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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Myer will make decisions about the future of each of its stores when it discusses lease renewals with landlords in 2012, the department store group has said as part of its interim results announcement to January 28. 
“In the current environment it is not unexpected that our discussions with landlords highlight adjustments in the timing of new stores and redevelopments,” said Myer chief executive Bernie Brookes. 
“We have recently taken the decision not to proceed with a planned new store at Watergardens [Victoria], as significant delays in this development led to Myer exercising its right to exit the agreement. 
“We will continue to provide updates on new store openings when we have certainty from developers. 
“We will continue to review the merits of all new and existing stores particularly in the context of lease renewal discussions,” says Brookes. 
Myer will open two new stores at Fountain Gate (Victoria) and Townsville later this year, and construction is also underway at a new store at Shell Harbour (NSW). 
Over the six-month reporting period ending January 28, Myer closed its store at Forest Hill (Victoria), and more recently Tuggeranong (ACT) as the leases at these stores expired. 
Brookes identified “improved store lease terms” as factors that Myer can influence over the next six month to improve the business in what will be a “challenging trading environment”. 
Myer profits fell 17.5% in the second half of fiscal year 2012 with the retailer reporting net profit of $88 million. 
The retail giant recorded sales of $1.43 billion in the six-month period – a 1.7% reduction on the previous period. Comparable store sales were down 3%. 
 
 
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lschlesinger-FZcF9M3vE6

Myer looking for improved lease terms from landlords as it reviews store viability  

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After three difficult years, the real estate agents industry stabilised in 2010-11, in line with improvements in domestic economic and financial conditions and growth in residential property prices in much of Australia.
Growth in the demand for commercial (i.e. retail, office and industrial) property strengthened property investment. However, this was offset by weakening residential demand since the beginning of 2011. As a result, IBISWorld estimates that revenue for the real estate agents industry will increase by about 0.9% in 2011-12, to reach $9 billion.
The growth in 2010-11 followed three years of declines. Over the past five years, industry revenue fell by 1.1% per annum due to reduced demand for properties from investors, commercial businesses and homeowners. Deteriorating economic conditions, rising debt levels and tighter access to finance directly affected property investment.
Growth in industry revenue from 2011-12 is likely to stem from increasing commercial property, which accounts only for a minority of revenue. IBISWorld expects that improvements to economic and financial conditions and steady population growth through 2016-17 will drive domestic property investment. Residential and property sales and leasing volumes are forecast to diverge, with residential demand decreasing temporarily. As a result, industry revenue is expected to grow by 1.6% per annum over the next five years, to total $9.8 billion in 2016-17.
<img src="/images/stories/ibismarch151.gif">
<img src="/images/stories/ibismarch152.gif">
Industry outlook
IBISWorld forecasts that industry revenue will increase by 1.6% per annum over the next five years, to total $9.8 billion in 2016-17. The industry is expected to slow in the short term as consumer sentiment creates an even more cautious environment.
The carbon tax is expected to dampen consumer sentiment and disposable income in the next five years, with it expected to lead to an increase in inflation of 0.7%, according to Treasury.
Nonetheless, improvements across a range of economic, financial and demographic conditions will drive demand over the medium-term and will bring the industry out of a minor slump quite easily.
In the bigger picture, the ongoing transformation of the Chinese economy is a major driver of the Australian market, bringing export earnings, foreign investment and taxation revenue, which directly and indirectly bolster domestic real estate conditions.
The residential market
Residential property market conditions will influence industry growth significantly over the next five years. The residential property market is expected to experience growth and reallocation in investment activity due to rising interest rates and government restrictions on housing supply, which will lower housing affordability and raise rental prospects.
<img src="/images/stories/ibismarch153.gif">
Improvements in the domestic economy, such as employment conditions, income levels, recovering confidence from the resources industries and the recovery of the Brisbane market from flooding, are expected to strengthen both foreign and local investor confidence and encourage property investment.
Urban growth boundaries, high-density development planning approval processes, stamp duty costs and housing supply, all administered by state governments, will be major determinants for residential real estate in the next five years.
Although, currently, real incomes are outpacing increases in housing prices, persistently increasing urbanisation and slow expansion from governments will lead to strain in relation to housing affordability. The NSW Government is moving to address this problem by releasing 10,000 new housing blocks over the next four years.
Steady population growth is also expected to stimulate market investment activity over the next five years. When combined with a decrease in the average household size, this will lead to a rise in the number of households in Australia. Data released by the ABS indicates that the average household size is expected to decline from 2.6 people in 2001, to 2.5 people by 2016. The growth in population, combined with reduced household sizes, will lead to increased demand for residential housing, which will drive sales and leasing volumes.
The commercial market
The strengthening commercial property market is expected to assist industry growth. The industrial and office markets are expected to experience a steadier level of demand for property space from 2011-12 due to improving economic, demographic and financial conditions that are anticipated to encourage property investment.
The retail market stabilised in 2009-10 and improvements to employment conditions and income levels through 2016-17 are expected to lead to growth in retail sales volumes. This increase will lead to growth in demand for property space and drive sales and leasing volumes as a result.
The industrial market is expected to reach a more stable level of property investment, as a steadier demand for property space returns to the market. Growth in the demand for industrial products is likely to be driven by the China-based commodity boom and improvements in the domestic economy and business conditions. This growth will encourage expenditure on industrial products and strengthen manufacturing production, import volumes and inventory levels. As a result, IBISWorld expects that demand for industrial property will increase through 2016-17, leading to growth in property sales and leases.
The impact of technology
Although real estate agents are becoming more proactive in the use of technology to carry out their work, there remains a long way to go.
Online property portals, such as realestate.com.au and domain.com.au, will entrench their position as the agents' front window of the 21st century, listing hundreds of thousands of properties for sale or lease. Improving technology will increase the popularity of virtual tours of properties through the internet and new applications will be developed to take advantage of the rapid uptake of smartphones by customers. Agencies will dedicate a greater percentage of their advertising and marketing budgets to online initiatives in the next few years, as they move from traditional media channels.
In this vein, REA Group, owner of real estate advertising website realestate.com.au, has angered the industry greatly by raising advertising costs, using its data towards free property valuations and approaching vendors directly to up-sell advertisements. These moves by REA Group affect the industry due to its dominant share (about 70%) of real estate online advertising.
Furthermore, REA Group is not the only website engaging in such behaviour. As a result, the job of the real estate agent is being undermined, and this is expected to lead to a more competitive market. The moves by REA Group have attracted the ACCC, which is currently investigating industry claims. Some property franchises have responded by either undermining the valuation data through entering false sales prices or withholding advertisements from the website entirely.
This new environment will require agents to reassess their business models in order to guarantee their need in selling and managing property. Websites are evolving, with real estate information aggregator Onthehouse.com.au launched recently, making information for vendors and buyers much easier to access. Already some new business models have arisen in response, such as Refund Real Estate, which aims to share sale commissions with vendors, buyers and the agent to help guarantee that buyers are satisfied with the real estate agency's service.
Agent-assisted companies like BuyMyPlace and PropertyNow have also popped up, serving a more advisory role to property vendors in sales or leasing as opposed to taking on the services completely, at a fraction of the cost. Established companies in the United States are known for directly contacting consumers to place ads, cutting out the real estate agent in the process.
Key success factors
IBISWorld identifies 250 key success factors for a business. The most important for this industry are:
<ul>
<li>
Aggressive marketing/franchising - given the high level of competition: A significant amount of time and effort should be devoted to marketing and promotional activities. It is also important to develop a referral base and centres of influence.</li>
<li>
Management of portfolio: The effective management of assets and tenants enables agencies to maintain a continuous leasing revenue stream.</li>
<li>
Having contacts within key markets: For commercial real estate agencies, it is important to establish strong relationships with institutional and private investors, banks and international real estate agencies.</li>
<li>
Market research and understanding: Property research activities can bolster revenue from sales and property management.</li>
<li>
Proximity to key markets: The position of the agency office is important; it should be close to the customers it intends to serve.</li>
<li>
Access to highly skilled workforce: Performance of staff should be regularly assessed. Low performers should be cautioned and/or re-trained or quickly replaced by new sales staff.</li>
</ul>
This article originally appeared on <a href="https://www.smartcompany.com.au/index.php" target="_blank">SmartCompany</a>.
 
 
 
 
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cknowlton-QnEa6ntUYP

Spark of growth lifts property industry hopes

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In the  excitement of finding  your  (potential) dream home, the job of checking for all the  necessities, and  some niceties, can easily  be overlooked. I will cover some basic items you should look for in just  about every room or space in an average house or flat.
Checking for these key things will help  avoid  any last-minute panic when  you’re  signing  the  contract to buy  the  home, desperately trying to remember whether you checked the  water pressure or if the  oven  worked properly.
1. Kitchen
You spend a lot of time  in the  kitchen, so it’s vital to ensure this  area in your  new home is going to meet your  specific needs (even if you end  up renovating later). Here’s  a list of some key kitchen features to look for as you hunt around an open house:
Benchtops and splashbacks: Do you prefer granite benchtops and  glass  splashbacks, or laminate and  tiles? Check  the  condition of the  benchtops and  of the  grout and sealant around the  tiles,  sinks  and  splashbacks. Also check the  amount of bench space and  whether it provides you with  enough preparation room.
<ul>
<li>Cooktop  and oven:  How will you heat your  food  — gas? electricity? induction heating? thermonuclear power? (Keep  in mind  electricity is more expensive than gas.)</li>
<li>Extraction  fan/range hood:  Check  for an extraction fan – you’d  be amazed how  many  homes don’t  have  one,  and you often  can’t  install one  retrospectively. Also check the effectiveness of the  fan — and  the  noise level</li>
<li>Fridge space:  Have a look at the  space for the  fridge.  Is it wide  or high  enough to fit the  fridge  you already own?</li>
<li>Floors: What  are  the  floors covered with? Are you happy to care for a wooden floor,  or would  you prefer to quickly  mop tiles?  Avoid carpet!</li>
<li>Hidden extras: Does the  kitchen come with  a dishwasher already installed — or at least have  a space (preferably next to the  sink)  to install one  easily?  What  about some standing room? I don’t  know about you,  but  people at my dinner parties always end  up hanging around while I finish preparing the  food.</li>
<li>Power  and phone points:  How many  power points have been installed, and  where are  they  placed? Are there enough points to accommodate a fridge,  toaster, kettle, microwave and  other less-frequently used appliances?</li>
<li>Is there somewhere to plug in a phone or modem?</li>
<li>Storage  solutions: There’s lots  to store in a kitchen, so inspect the  pantry and  the  number (and size)  of the  cupboards. Make sure you don’t  lose  too  much cupboard space to a hot-water service, dishwasher pipes or sink plumbing.</li>
</ul>
2. Bathroom
<ul>
<li>The  bathroom in your  new property might  have  last  been renovated in the  1950s, meaning every item  is a fetching shade of pink.  But if your  budget won’t stretch to renovating the bathroom as soon as you move  in, you’ll be stuck with  the current fittings for a little  while.  Examine  this  list of features to see  whether the  bathroom is functional for your  needs:</li>
<li>Bath/shower: Does the  bathroom come with  a bath, shower, both or a “shub”  (shower over  a tub)? If there’s only a shower, can  you live without long baths after  a hard day  at work? Or are  you more of a “four-minute shower” person? (And congratulations if you are,  given the  droughts we tend to have  in Australia!) If you have children, or are  planning to, having  a bath might  be a must-have. If a short but  sharp shower is important to you, remember to check the  water pressure.</li>
<li>Bathroom vanity:  No, I’m not  talking  about spending too much time  in front  of the  mirror! I’m referring to the  sink and  cupboard unit  that’s fairly standard in a bathroom. Does it come with  a mirror? If the  vanity  doesn’t have in-built  drawers or cupboards, is there additional storage, or at least room to install a stand-alone set  of drawers to house all your  essential bits  and  pieces?</li>
<li>Power  points:  Even if you’re  pretty low-maintenance, you probably use  a few electric appliances in the  bathroom, such as a hairdryer, electric toothbrush, shaver or hair straightener. Check  the  availability and  placement of power points. Or you might  be into  the  bare essentials and  not need any of this  at all.</li>
<li>Steam clearing: You’ll need something to remove the steam while you’re  bathing, to prevent mould from appearing on the  bathroom walls.  Is there an extraction fan? At the  very  least, you’ll want  a window that opens — but  if the  bathroom’s on the  ground floor,  make  sure the window has  a lock to prevent unwanted visitors (human and  otherwise) from  creeping inside. Also check what  the window looks  out  on.</li>
<li>Washing  machine taps: If there’s no separate laundry in the  house, or no communal laundry in the  apartment block, then you’ll probably find some washing machine taps in the bathroom. Check  that there’s enough space to fit your washing machine, and  some room to sort your  washing. In modern properties or renovations, you might  come across what’s  known  as a European laundry, which  usually means space for the  washing machine (and perhaps dryer) is tucked away  in a cupboard or in the  kitchen. Check  the space provided is sufficient.</li>
</ul>
3. Lounge
The  lounge is the  perfect place for entertaining guests and spending time  with  family. But what  if you move  in and  find there’s not  enough room for your  lounge suite? Here  are  some features to look for before you commit to buying a property:
<ul>
<li>Extra space:  Lots of lounges flow on to balconies or into the  backyard. Does the  property have  doors or windows that allow you to bring  the  outside in?</li>
<li>Heating  and cooling: Do you swelter in summer without air-conditioning or do you really feel the  cold  in winter? Or do you prefer to keep  your  gas and  electricity bills down?  Numerous heating and  cooling options are  available: Reverse-cycle or split-system air-conditioners, ducted heating and  cooling, open fire places, ceiling  fans,  hydronic heating, bar  heaters and  gas wall panels are  all possible. Check  out  the  heating and  cooling options provided and whether they  fit in with  your  requirements. If the  property doesn’t come with  any heating or cooling options, you can  always buy  a free-standing floor  fan and  heater.</li>
<li>Flooring: Tiles,  floor  boards or carpet are  the  main  flooring options in a living area;  think  about what  works  best for your  location and  lifestyle (and whether you can  afford  to change the  current flooring, if it doesn’t suit  your  needs). </li>
<li>TV and phone connections: Some people prefer to keep the  TV out  of the  lounge, but  if this  isn’t the  case for you, check for an aerial plug.  Paid  TV services may also  be a non-negotiable in your  household; if so, you’ll want  to see if the  cabling has  already been installed. (Don’t forget  to check for aerials and  satellite dishes outside!) Similarly, you may want  a phone in the  lounge and,  given the  rise of internet television, an internet connection in this  room could be very  handy too  if you want  to avoid  cables trailing through the  house or apartment.</li>
</ul>
4. Dining room
Older  properties usually have  a separate, or formal,  dining  room. If you do a lot of entertaining and  have  a large  dining  table, take some measurements of your  table and  chairs before  you head off to the  open home, to ensure it will fit into  the  dining  area.
If formal  dining  isn’t really your  style,  check whether another use  of the  separate dining  room is possible and  practical.
More  modern homes or renovations will often  have  open plan dining  areas, usually adjoined to the  kitchen, lounge or both. This  means that the  space is not  (usually) as restricted as a separate dining  room. Check  that the  flow of the  open plan space fits in with  your  lifestyle.
5. Bedrooms
When  looking  at the  main  bedroom of the  property, check the following:
<ul>
<li>Clothes  storage:  You’re going to need to hang  up your clothes (unless you’re  a teenage boy  — in which  case, plenty of floor  space is probably your  best bet). Some wardrobes come with  built-in  shelving units, but  if the wardrobe installed only has  hanging space, check you can  fit a chest of drawers in the  room. If the  room has  no storage (sometimes the  case in older properties), you may need to purchase a free-standing wardrobe.</li>
<li>Ensuite: For some, not  having  an ensuite isn’t a deal- breaker, but  if you have  children or often  have  guests staying, you may consider it to be. If this  is the  case, check whether the  bedroom has  an ensuite and  that it meets your  needs.</li>
<li>Flooring: Carpet? Wooden floorboards? Remember that this  will affect  the  temperature of the  room throughout the  year,  so take  the  climate of your  location into consideration.</li>
<li>Heating  and cooling: For maximum comfort in the  summer months, and  to stop you from  freezing in winter, don’t forget  to look for heating and  cooling systems, in whatever form  you prefer (air-conditioning, ceiling  fans,  under-floor heating and  so on).</li>
<li>Phone and TV connections: If you like to watch the  TV in bed  or while you’re  getting dressed in the  morning, ensure the  bedroom has  an aerial plug.  You may also  want  a phone jack near the  bed.</li>
</ul>
For properties with  more than one  bedroom, apply most of the preceding points to the  second and  subsequent bedrooms.
If you’re  planning to turn one  of the  bedrooms into  a study, make  sure to check for sufficient power points for all your computer equipment.
6. Laundry
Many older and/or larger homes have  a separate laundry, and you may feel having  this  extra space is an added feature. If the property you’re  inspecting has  a separate area for laundry, here’s a list of what  to look for:
<ul>
<li>Bench  space:  If you’ve  got a top-loading washing machine, then you may want  to look for extra bench space for folding  clothes, storing washing powders and  hosting a central repository of unmatched socks (where do the  other halves of the  sock  pairs go?!).</li>
<li>Dryer brackets and ducting:  Bringing  your  own dryer? Investigate whether there are  brackets to attach the machine to the  wall, and  ducting to move  the  hot air outside.</li>
<li>Sink and cabinet: A deep sink in the  laundry is useful for soaking and  rinsing — or bathing small  children if the property doesn’t have  a bath!  If you do have  children, check whether the  cabinet can  be secured, so you can store nasty liquids and  powders out  of harm’s way.</li>
</ul>
7. Garage
The  number of cars/bikes/jet skis  you own, or intend to own, will determine the  suitability of the  garage (if the  property comes with one). When  looking  at parking options, keep  the  following in mind:
<ul>
<li>Parking  that comes with  apartment blocks:  In this situation, the  parking is usually shared, and  the  options will be allocated parks, or first-in,  first-serve. If you’re lucky,  there might  also  be a storage cage  for all those odds and  ends, like the  fake Christmas tree and  the  bicycle that you really must start using  more often… Check  the security and  lighting  in this  shared space.</li>
<li>Parking  that comes with  houses or units: In a stand-alone property, the  parking options might  include a covered garage or a driveway. If the  property includes a covered garage, check how  secure it is and  whether it provides internal access. In some older properties, the  covered garages are  quite narrow, so check whether the  car  you have will fit, along  with  everything else  you’d  like to keep locked up and  under cover. If the  only parking option is the driveway, check how  many  cars it’s possible to fit.</li>
<li>No parking  at all: If on-street parking is the  only option, check the  parking regulations in the  area — you might  need a permit to park  outside your  home, which  is an additional annual cost.</li>
</ul>
8. Backyard or balcony
Having a backyard is part of the  Great  Australian Dream,  right?  If the  property you’re  considering has  a backyard (or  a balcony), work  your  way through this  checklist of features:
<ul>
<li>Barbecue: Another quintessential Australian feature — the barbie. If there isn’t a plumbed-in gas pipe  attached to the house, then you’ve  got a bit of freedom to move  your  barbecue around the  backyard. Check  what  options are  available. If you’re  looking  at cooking on a balcony, make  sure that it is well ventilated.</li>
<li>Fences:  Whether you’ve  got pets or children, it’s essential to have  the  backyard fenced to stop runaways. Check  the condition of the  fence  and  find out  how  old it is. If the property has  a balcony, ensure that railings are  sufficient and  secure.</li>
<li>Lighting  and power  points:  To enjoy  long summer evenings out  in the  backyard, you’ll need some lights  outside the house, or an easily  accessible power point to set  up some temporary lighting. After all, how  else  are  you going to string up fairy lights  at Christmas?</li>
<li>Maintenance requirements: Do you dream of creating a backyard escape and  being  surrounded by trees and  plants, or do you prefer low-maintenance decking or pavers? Check  whether enough space is available, and  whether you’re  happy with  the  level of maintenance required.</li>
<li>Somewhere to sit: Does the  property come with  a deck or paved area to put  some outdoor furniture? Or, at least, a flat bit of grass?</li>
</ul>
Washing  line: Having a washing line will save  you hundreds of dollars — sunlight is free,  and  dryers cost money to purchase and  operate. If a washing line is already provided, check that it’s not  only unobtrusive but  also  positioned to catch good  sunlight — north facing is ideal.  If a washing line isn’t already set  up, check that there’s somewhere you could install one.
9. Street appeal
Everyone knows  that you shouldn’t judge  a book  by its cover, and the  same goes  for a house. But when  you’re  making  such a large  purchase, it’s natural to want  to make  sure everything is perfect, inside and  out.  Here  are  some ideas of what  to look for when  you’re  approaching (or  leaving) the  open home inspection:
<ul>
<li>Facade: First  impressions count, and  in the  case of a house or apartment block,  it’s the  facade that creates this  impression. Is the  paint fresh or starting to peel?  Is the  colour scheme a bit dated? If the  house has  wooden cladding, check it’s not  showing signs  of rot.</li>
<li>Landscaping:  Is the  front  yard  a jungle  of overgrown weeds? If you’ve  got green thumbs, a challenging garden project may be exciting for you.  But if you’re  a novice with plants and  a lawnmower, and  have  little  interest in learning how  to do these chores, are  you willing to pay  someone to bring  the  front  yard  to a suitable standard, and  to maintain it afterwards?</li>
<li>Privacy:  Do you like a front  yard  or apartment block  that is quite open to the  street, or do you prefer more privacy? The  type  of plants and  fence  used in the  front yard  or outside the  apartment block  can  affect  how  much passers-by can  look in, and  how  secure the  property is.</li>
</ul>
If you prefer more privacy and  security, look for higher fences in good  condition.
<img style="border-style: initial; border-color: initial; float: left; margin: 5px;" src="/images/stories/buyingdummies.jpg">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 <a target="_blank" href="https://www.dummies.com/store/product/Buying-Property-For-Dummies-2nd-Australian-Edition.productCd-0730375560,navId-322442">Buying Property for Dummies</a>, 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 Buying Property for Dummies.
 
 
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Nine areas of a home to check at open for inspections: Karin Derkley

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There’s little doubt that 2012 will be a year of economic crises around the world.
But what is certain in these times of uncertainty is that a group of successful property investors will be quietly growing their wealth by taking advantage of the opportunity the market is presenting them.
While many Australians will sit on the sidelines waiting for someone to ring the bell heralding the property market has hit bottom, savvy investors will be out looking for and buying investment opportunities created by the current buyers’ market.
So let’s look at some of the time-tested rules these successful investors use to make their fortunes.
1. They invest, not speculate
Even though they think they are investing, many property investors are actually speculating.  They buy a property emotionally, often near where they live, where they holiday or where they want to retire. Then they hope that the market will appreciate. This makes them dependent on outside market conditions to produce a profit.
Smart investors do it differently.
They make educated investment decisions based on research, buy property below its intrinsic value in an area that has above-average long-term capital growth and then add value through renovations, thereby “manufacturing” extra capital growth.
2. It’s about the property 
Wise investors never forget the age-old fundamental of buying the best property they can afford in proven locations and don’t allow themselves to get sidetracked by glamorous finance or tax strategies.
3. Property is a high-growth, low yield-investment
While the argument about capital growth or cashflow will rage forever, savvy investors know that the fastest way to build a substantial property portfolio is through capital growth.
 
4. Land appreciates
While it’s true that land appreciates in value, it’s not really as simple as that. Not all land is made equal, and not all land appreciates at the same rate.
There’s lots of land (ample supply) in the outer suburbs of our cities, but much of the demand there comes from a small segment of the market – first-home buyers (restricted demand). This keeps a lid on capital growth and makes these areas poor investment prospects.
Even worse, the land component, the bit that appreciates, usually only makes up about half of the total value of the property. However, in the inner suburbs the proportion of the land value to the total property price is usually considerably higher.
Remember it’s the scarcity of land that causes property values in these locations to keep rising and currently there is strong demand from a wide range of owner-occupiers for properties in our inner suburbs. This trend is likely to continue as more of us chose to live close to our workplaces in locations that offer better access to infrastructure like public transport, shopping and entertainment facilities.
As demand looks set to outstrip supply in the inner- and middle-ring suburbs for many years to come, these areas are where successful investors will buy for long-term capital growth.
5. They buy properties that will be in continuous strong demand 
Of course not every property in a given suburb will make a good investment or have similar capital growth. Savvy investors understand that investment-grade properties are the type that will appeal to a wide range of owner-occupiers, since they make up the vast majority of buyers.
That’s why they avoid studios, student accommodation, holiday accommodation and serviced apartments. After all it’s owner-occupiers, not tenant or investor demand, that push up property values in the long term.
6. Demographics holds the key
Long-term demographic trends – where and how people want to live – will determine the type of property that will be in demand in the future.
As our cities mature there will be more one- and two-people households, meaning that secure medium-density apartments and townhouses will become the preffered style of living for more Australians as we swap our backyards for balconies.
7. They have a great team
If you are the smartest person in your team, you’re in trouble. Successful investors surround themselves with a team of top consultants and know how to discern an advisor – who is independent – from a salesperson.
8. They understand where the risk really lies
Most investors believe there is a direct relationship between risk and reward – the higher the reward, the more the risk must be. But that’s not really true.
While most investors think the risk lies in the property or the markets or factors outside their control, the biggest investment risk actually lies with the investor – in knowledge, experience and mindset.
9. They don't diversify
The best defense is a good offence. Wise investors educate themselves and develop a level of financial fluency to make their investment journey as safe as houses.
Interestingly, most successful investors don’t diversify. They specialise by becoming good at one thing, or an expert in one area or niche, thereby getting great results.
10. They understand the property market moves in cycles
During a boom everyone is an optimist and expects the good times to last forever, just as we lose our confidence during a downturn.
Truth is, our property market behaves cyclically and each boom sets us up for the next downturn, just as each downturn paved the way for the next boom. Just as it is doing right now.
Something to think about.
Michael Yardney is the director of <a href="https://www.metropole.com.au/">Metropole Property Investment Strategists</a> , a best-selling author and one of Australia's leading experts in wealth creation through property. He also writes the <a href="https://www.propertyupdate.com.au/">Property Investment Update</a> blog.
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Ten rules for successful property investment

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<img style="border-style: initial; border-color: initial; float: left; margin: 5px;" src="/images/stories/flagtitletat.jpg">Shoe designer Gary Castles has listed his radiant Whale Beach property (pictured below). He’s had the Malo Road property for three decades. It’s a-four bedroom house on a hillside 1,160-square-metre block that has an approved dual occupancy. There’s also approval for another level to the main residence that includes the addition of a three-car garage. David Edwards and Peter Robinson from LJ Hooker Palm Beach have the listing in conjunction with Ken Jacobs at Christies International. More than $7 million is being sought.
{yoogallery src=[images/stories/march16castles]}
<img style="border-style: initial; border-color: initial; float: left; margin: 5px;" src="/images/stories/flagtitletat.jpg">Warren Johns and his wife, Joan, have secured $8.6 million for their apartment in Sydney Wharf at Pyrmont. It’s Sydney’s highest known apartment sale this year. The official paperwork shows it cost $6.45 million in 2010. It first sold at $5.4 million in 2006 off the plan before its completion by Charter Hall, Babcock &amp; Brown and AMP Capital Investors. The sale was reported by Feldi Real Estate. The property developer and yachtsman and his wife will presumably make The Boatshed, the Wally Barda-designed David family-built Palm Beach residential triplex on Snapperman Beach their Sydney base. 
<img src="/images/stories/eurek.jpg">
<img style="border-style: initial; border-color: initial; float: left; margin: 5px;" src="/images/stories/flagtitletat.jpg">Yet another high floor has been listed in Melbourne’s Eureka Tower (view from window pictured above). It’s the empty shell on the 85th floor. It’s been listed by two vendors, who’ve decided to offer their spaces as a combined 500-square-metre offering in the 2006 completed tower. One is Bruno Charlesworth, the France-based entertainment industry lawyer and movie producer. The other half is being sold by Melbourne businessman Alex Piccinini. The 85th-floor offering has been listed through  Richard Mackinnon and Sean Cussell  at Marshall White, who’ve been saying $5 million plus. It was previously listed at $7.5 million in 2009. <a href="https://www.propertyobserver.com.au/international/eureka-tower-penthouse-hoped-to-fetch-sky-high-price/2011083051361" target="_blank">Last August the entire 84th floor fitted out with four bedrooms and five bathrooms was listed</a> with $13 million plus hopes by Eureka's co-developers Tab and Eva Fried and the building’s architect Nonda Katsalidis through Cussell. In September Daniel Grollo and wife Kat listed their penthouse with an $8.2 million asking price. It occupies the entire 80th floor in the Southbank tower he built. No details have yet emerged to indicate the sale of either listing.
<img src="/images/stories/edwardsbay.jpg">
<img style="border-style: initial; border-color: initial; float: left; margin: 5px;" src="/images/stories/flagtitletat.jpg">Former editor-in-chief of Elle and now co-owner of the Hush public relations company Debbie Coffey and husband, photographer Ross Coffey, have traded again in Mosman. Their latest buy is a four-bedroom contemporary house (pictured above), which sold through McGrath agents Michael Coombs and Nicky L’Green for $3.9 million, having sold five years earlier at $4.07 million. The couple bought their redundant house for $3.85 million in 2009 and sold it for $4.35 million to Meian Sun and Zhi Tan. The Coffey's first home in Mosman cost $975,000 back in the late 1990s, Title Tattle seems to recollect.
<img style="border-style: initial; border-color: initial; float: left; margin: 5px;" src="/images/stories/flagtitletat.jpg">Having failed last year, Vivian King, the chairman of the CH Warman Group, and his wife, Wendy, have relisted their 3,268-square-metre Wahroonga estate. It’s been scheduled for April 14 auction. Last year it had been listed with price hopes of $8 million through agents Don MacLennan of Richardson and Wrench Lindfield and Tracey McDonald of Chadwick Real Estate. The Water Street property cost $6.1 million in 2002. Set in gardens designed by two landscape luminaries, Peter Fudge and Gordon Sykes, the circa-1905 Federation mansion has five bedrooms, a billiard room, study and multiple formal and informal living and dining areas. The grounds have lawns, a championship-size north-south tennis court and 12-metre heated pool.
Last year’s highest sale in Wahroonga was also on Water Street when Queensland-bound software entrepreneur Paul Phillips secured $6.9 million from tech company entrepreneur Dominic O'Hanlon. An Illoura Avenue property, Cedarbank, surrounded by rhododendrons on its 4,624-square-metre Wahroonga site, has been the suburb’s biggest sale settlement so far this year. Listed for sale with $6 million-plus expectations, it fetched $5.36 million when bought by the Wang family in January. The six-bedroom house last traded in 1993 when Susan Clare, wife of car dealer Robert Clare, sold the F. Glynn Gilling-designed house for $4.35 million in 2008 to Paul Greenhalgh, a former managing partner of Accenture's Asia/Pacific business strategy practice, and his wife, Annette. The Clares had paid $1.6 million in 1993 when it was bought from tie manufacturer David Klippel and his wife, Myra, who purchased it in 1957 for £23,000. The Illoura Avenue grounds come with a pool, tennis court and a self-contained, one-bedroom flat adjacent to the four-car garage.
{yoogallery src=[images/stories/march15toadie]}
<img style="float: left; margin: 5px;" src="/images/stories/flagtitletat.jpg">
Neighbours veteran Ryan "Toadie" Moloney has listed his Malvern East house (pictured above) with $1.2 million hopes. It's been the home of Moloney and his wife, Alison, for about five years. The four-bedroom house sits on a 664-square-metre block that comes with jet pool, studio/workshop and space for four cars. Bennison Mackinnon agent Andrew Luke and Will Trenchard are holding the auction on March 24. Inspectees have commented that Moloney likes his horse racing and cards judging by his attic-style retreat in the house. Moloney, who never followed the Neighbours trend and released a pop single, became a regular on the show in 1996.
 
<hr class="system-pagebreak">
 
{yoogallery src=[images/stories/march14pulse]}
<img style="border-style: initial; border-color: initial; float: left; margin: 5px;" src="/images/stories/flagtitletat.jpg">Kate Aujard from Pulse Pharmacies has snapily sold her imposing Hawthorn residence (pictured above). With a tennis court in its 2,800-square-metre grounds, the five-bedroom, four-bathroom English-style house is set on Scotch Hill. It last traded at $9.1 million in 2007 when bought from head hunter David Dick and wife Sandra, so it represented a good test of Melbourne’s prestige market. Tim Picken and Scott Patterson at Kay and Burton haven’t revealed the sale price, but Title Tattle reckons its likely to have sold at around the realistic quote price of $8 million in quick time – within two days of offers being due earlier this month.
{yoogallery src=[images/stories/march12pendlebury]}
<img style="border-style: initial; border-color: initial; float: left; margin: 5px;" src="/images/stories/flagtitletat.jpg">Collingwood’s 2011 Best and Fairest winner, Scott Pendlebury, still hasn’t sold his Newport cottage (pictured above) through Barry Plant Yarraville agent Niels Geraerts. And he’s committed to a $1.3 million Albert Park cottage, which was snapped up post-auction last spring. His two-bedroom Douglas Parade property – just a stroll to Williamstown’s cafes – <a href="https://www.propertyobserver.com.au/residential/magpie-scott-pendlebury-on-the-move-but-not-to-greater-western-sydney-title-tattle/2011110452216" target="_blank">went to late November auction</a> with $780,000 to $840,000 expectations. Pendlebury bought it for $657,000 around 2007. His latest price guide is between $780,000 and $820,000. The house is being advertised with a sale by set date marketing campaign – with a March 29 desired sale date.
<img src="/images/stories/pendlesnew.jpg">
His Albert Park purchase (pictured above) had previously sold at $1.28 million in 2010. The Albert Park cottage came with the former local dairy outbuilding that had been converted to self-contained office.
{yoogallery src=[images/stories/march12chalabian]}
<img style="border-style: initial; border-color: initial; float: left; margin: 5px;" src="/images/stories/flagtitletat.jpg">Celebrity interior designer Tina Chalabian from Channel Ten show The Renovators has sold her Willoughby home pre-auction for a record price. It was on the market for about three weeks and sold to a family from Mosman, who were among the 160 inspectees. There were 72 inspectees on its first Saturday open. “While we can’t disclose the exact price, we can say it certainly eclipsed the previous suburb record of $2.855 million for a house in Chiltern Avenue,” selling agent Mark O’Brien from Richardson &amp; Wrench Castlecrag. “But it wasn’t beyond expectations, as we were quoting high $2 millions to low $3 millions.” Title Tattle gathers about $2,955,000 was secured for the Remuera Street house. The five-bedroom, four-bathroom house was just a few years old with a huge, level yard and European-style swimming pool. Built by Meadowbank to a <a href="https://www.tinac.com.au/">Tina C design</a>, it sits on a 911-square-metre block, which cost $1.18 million in 2006. The Chalabians, the 34-year-old interior designer and mother of three who appeared on The Renovators television series and her lawyer husband Sevag, are moving to Northbridge, where they will renovate their $2.2 million acquisition. Since Tina bought her first house 11 years ago, she has renovated five houses and says each sold for a profit. The one in Castlecrag sold for $2,525,000 in 2006 with the block costing $899,000 in 2002. The Killarney Heights property was a closer call having cost $525,000 in 2001 and sold for $610,000 in 2002.
<img style="border-style: initial; border-color: initial; float: left; margin: 5px;" src="/images/stories/flagtitletat.jpg">Title Tattle aims to tell its readers first – and if possible before the Radicalterrace blog – so the word from Bondi Beach is that Mark Blumberg has spent $4.75 million buying a two-apartment amalgamation in Pacific Terraces on Notts Avenue. Its a good buy at that price being 232 sq m internal space plus 62 sq m carparking. The units were consolidated in 1989 at a $1.15 million acquisition cost. The latest sale equates to $20,000 an internal square metre in the block where the top priced sale of $3.1 million was paid in 2010, equating to $27,000 an internal square metre. The late Kerry Packer helped finance the Pacific Terraces development by Bill Shipton in the early 1980s. Longtime Bondi Beach agent Ron Doff once recalled that initial sales were difficult. ``The apartments were Surfers Paradise-style, with overly ambitious asking prices,” he said. And there was a credit squeeze.
<img style="border-style: initial; border-color: initial; float: left; margin: 5px;" src="/images/stories/flagtitletat.jpg">And don’t say that Title Tattle told you, but Sean Bartholomew, sometimes referred to as Australia’s biggest punter, has listed in Dover Heights. The four-bedroom oceanfront cost $4.8 million in 2006. It’s going to March 29 auction through Michael Pallier at Raine and Horne Double Bay.
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Shoe designer Gary Castles lists in Whale Beach: Title Tattle

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The lawyer spearheading a class action against Bankwest has welcomed the announcement of a broad-ranging parliamentary inquiry into the banking sector.
Slater &amp; Gordon commercial litigation lawyer Van Moulis, who is working on a class action on behalf of dozens of aggrieved borrowers, says he looks on with “great interest” to see what the Senate investigation uncovers.
“I’m very pleased,” Moulis said.
The inquiry, announced yesterday, will look into:
<ul>
<li>the impact of borrowing and lending practices in the banking sector both during and since the global financial crisis;</li>
<li>the need for further consideration of the state of the broader finance and banking sector;</li>
<li>the impact of international regulatory changes on the Australian banking sector;</li>
<li>the impact on relative shares of specific banking markets; and</li>
<li>the current cost of funds for lending purposes.</li>
</ul>
The Slater &amp; Gordon case is centred on the idea that Bankwest customers were victimised by "improper" lending and recovery practices in 2008.
Of particular interest is a provision that allowed buyer Commonwealth Bank to “claw back” bad and doubtful debts from vendor HBOS.
Bankwest has vehemently defended its actions, saying it had assisted many customers between 2008 and 2011.
The Senate inquiry has been spearheaded by Nationals Senator John Williams, who raised the alarm at reports that banks were pulling loans to small business clients, including farmers, leading to assets being sold at rock-bottom levels.
He said yesterday the inquiry would allow “developers and investors who have complaints about the way they have been treated a chance to have their say.”
“This inquiry will also be able to scrutinise the role of receivers and valuers to see whether they are doing the right thing when valuing and selling properties.”
“I have heard some horror stories about their actions.
“We need to know if everyone is and has been treated fairly. We need to know the vulnerable are protected.
“Ultimately we need our banking sector to be strong, but if there are concerns they need to be addressed.”
The Australian Bankers’ Association said it would “provide a submission to the Senate Inquiry and will seek to appear to give evidence."
"It will be a good opportunity for the ABA to explain why banks’ funding costs have increased relative to the Reserve Bank’s cash rate and why that has meant home loan interest rates have increased."
"Also we will be talking about why solid, reliable and profitable banks are important for the Australian economy.”
This article originally appeared on <a href="https://www.smartcompany.com.au/index.php" target="_blank">SmartCompany</a>.
 
 
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Class action lawyer welcomes Senate inquiry into banking sector

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Shareholders of Charter Hall Office REIT have today voted in favour of the privatisation bid by a consortium of institutional investors including Singapore government affiliate Reco Ambrosia Pte Ltd, The Public Sector Pension Investment Board of Canada, and a member of the Charter Hall Group.
The vote was 96% in favour of the takeover.
Goldman Sachs REIT analyst Peter Zuk says the deal is not yet over the line with a number of conditions still to be met.
“[These include] completion of US asset sales by the end of March 2012. Second Judicial Advice has now been delayed and will not be obtained until after the last US asset sale has completed.
“The proposal will not proceed unless all conditions precedent are satisfied by 17 May 2012 – or such later date as the parties may agree,” he says.
Under the agreement shareholders will receive $2.49 per share comprising a cash consideration of $1.84 per share and implementation distributions of $0.65 per share.
Shareholders will also receive 96c per share for US sales distributions, 49c of which has already been paid.
Should everything proceed as per the agreement, the trust will delist from the ASX in mid-April.
In its December 31 interim results released in February, Charter Hall Office REIT had an Australian office portfolio valued at $1.85 billion with an occupancy rate of 97%.
The trust reported a statutory loss of $59.9 million, “significantly impacted by offshore asset sales and various non-cash items”.
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Charter Hall Office REIT shareholders vote in favour of privatisation

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Rental vacancies in the Perth metro region dropped to 2.3% in February, according to Real Estate Institute of WA figures for the three months to February. 
This is down from 2.8% at the end of last year. 
As a result of the tighter market median asking rent for units, apartments, villas and townhouses increased by $10 a week to a median of $390 per week. 
Rents for houses remained steady at $420 per week. 
Demand for rental accommodation was particurlarly high along Perth's north coastal market from Scarborough upwards, which recorded a vacancy rate of just 1.2% for February and 1.5% for the three months to February. 
In the western suburbs the rate remained steady at 2.3%. 
“The vacancy rate has tightened in Perth's outer southwest corridor where the monthly vacancy rate for Kwinana-Rockingham has fallen one percentage point from 2.5% in January to 1.5% in February, which means that in the three months to February the vacancy rate was 2.2%,” says REIWA president David Airey. 
Airey says the fall in the vacancy rate is not surprising because the volume of property listed for rent has fallen 24% since the start of the year, from 2,900 homes to 2,200 at the end of February. 
“It’s also the case that there is strong seasonal demand for rental property in the March quarter,” he says. 
Airey the rental pressure is coming from those who are opting to rent rather than buy and from the growing demand for accommodation from new migrants flowing into WA, which caused a solid upturn in rents in 2011. 
“The long term equilibrium vacancy rate in Perth is 3%, and the lowest point we have recorded was just 0.8% in the March quarter of 2007,” he says. 
Metropolitan rents could tighten further in the coming months with the “volatile” month-only reading for February showing a vacancy rate of just 1.6%. The last time a reading of 1.6% was recorded was four years ago for the December quarter of 2007.
Property Observer readers can secure free tickets for the Perth Home Buyer and Property Investor Show by<a target="_blank" href="https://www.homebuyershow.com.au/special-offers/propertyobserver-ticket-offer/"> clicking here</a>.
 
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Perth unit rents rise as vacancies tighten to 2.3%

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The Napoleon Perdis Makeup Academy has leased space on Queen Street, Woollahra.
It’s the former post office premises whose closure was shut down in controversial circumstances in early 2011 by Australia Post.
The space has been empty since then.
The Perdis lease is for 112 square metres of ground-floor space.
The rent has been struck at $156,000 a year with options through to 2019 typically with 4% annual rental increases.
The share of outgoings total 40%, which includes council rates, sewerage and water charges, land tax, garbage disposal and insurance. Perdis opened in first store in 1995 in nearby Oxford Street, Paddington and now has 72 concept stores and over 4,500 point-of-sale locations in Australia and New Zealand.
The latest tenant on Queen Street is Anna Thomas, one of Australia's newest luxury women's fashion labels hailing from Melbourne, taking space in the former Howell and Howell building. The prestige shopping precinct attracted subdued interest ever since June 2011 when Alasdair MacLeod and his wife, Prudence, bought the Howell and Howell antique premises fetched $4.25 million post auction through Richardson and Wrench agent Ben Vaughan in conjunction with Laing and Simmons agent John Knott.
Wholefoods House is set to swap sides of the road moving almost adjacent to the Woollahra Hotel. The landlord had been seeking $210,000 a year tenants for the former CBA premises/Gary Castles premises on the Moncur Lane corner, but its not known what rent leasing agent Ben Vaughan secured.
Pauline Goodyer from GoodyerDonnelley Real Estate has listed the <a target="_blank" href="https://www.gdrealestate.com.au/includes/property/search.asp?f_propertyID=1861441&amp;f_ct=1&amp;f_st=1&amp;f_ps=2&amp;xsl=2421&amp;stylename=2421_">retail premises of fashion designer Lisa Ho</a> and her husband, fashion fabric importer Philip Smouha. The three-storey building on Queen Street has operated as a hotel, a newspaper distribution company and a bookshop, and then trading as G.L. Auchinachie and Son Antiques until ins 2004 sale.
The 400-square-metre retail site premises is a 1905 building with rear lane access. It cost $4.5 million in 2004.
Offers are due by April 14.
Woollahra's Queen Street<a target="_blank" href="https://www.propertyobserver.com.au/new-south-wales/fashion-royalty-boosts-queen-street-s-leasing-pedigree/2011062250571"> is fast becoming fashion central as its Dickensian antique dealers depart</a>.
Martyn Cook, the street's most ubiquitous antique dealer, and the interior decorator Thomas Hamel, relocated last year to an 1891 heritage building, the Redfern Electric Light Station, with 1,042 square metres of space.
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Napoleon Perdis takes Woollahra post office and Anna Thomas adds to Queen Street fashionistas 

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On the back of yesterday’s news that consumer confidence has fallen to levels last seen before the November and December rate cuts CommSec chief economist Craig James says Australians “risk talking ourselves into a growth recession”.
“[This is] a period of sub-trend economic growth, which feels in many respects like a recession but doesn’t involve the economy actually going backwards,” says James.
The <a target="_blank" href="https://www.propertyobserver.com.au/trends/slight-improvement-in-housing-sentiment-defies-drop-in-consumer-confidence-in-march-westpac-index/2012031453826">March Westpac–Melbourne Institute Index of Consumer Sentiment</a> showed a slight increase in housing sentiment but an overall five-point drop in consumer confidence to a level of 96.1, meaning pessimists outweigh optimists.
It also revealed that tenants were a lot more pessimistic (down 10.8%) than households with a mortgage (down 6.8%) and those who own their homes outright (flat).
“Then there is the weak housing market with new home sales at 11-year lows, dwelling starts slumping almost 7% in the December quarter and home loans falling in January,” James says.
“And then there is retail spending – up just 0.3% in January with chain store sales up only 2% on a year ago,” he says.
Adding to the gloom will be the release of new US home sales for February on Friday, which James forecasts will continue “bumping along the bottom” although the annual rate is tipped to rise from 321,000 to 327,000 in February.
To turn things around, James suggests: “Better times abroad would help, lifting our share market, and causing us to re-assess our conservative attitudes. “Aussies need to focus again on the opportunities, not the risks. And a rate cut from the RBA wouldn’t go astray either. Inflation is not a threat and the economy is stagnating.
“So there are few risks about trimming rates another quarter of a percent. And if conditions started to lift quicker than expected, a rate cut could always be reversed,” he says.
“It gets down to the fact that the majority of Australians live outside the areas that are affected by the mining boom. And in those non-mining areas, the news flow has been overwhelmingly negative, not positive,” he adds.
Commonwealth Bank economist James McIntyre says the consumer sentiment index shows the economy to be “muddling along” at a below-average level, though some parts of the economy remain “very bright”.
“The RBA has recently highlighted the importance of developments in the labour market for the course of interest rates whilst the current level of structural change and economic shocks are rendering other readings of the economy less useful.
“In that vein, there is little new information between now and the April RBA board meeting.  Our expectation is that the RBA will remain on hold in April, with the first-quarter CPI figures (due April 24) the next major marker for monetary policy,” he says.
 
 
 
 
 
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