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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For years I’ve encouraged analysts and commentators to avoid using the performance of property in the unique areas in which they live – e.g., Mosman, Toorak, Whale Beach, or the Mornington Peninsula – as a proxy for Australia’s diverse, $4 trillion housing asset class.
The behavioural tendency to extrapolate out from our immediate environs to the 8.5 million homes not located in our street leads to what psychologists might call an “anchoring bias”. It is no different to taking a micro-cap listed on the ASX and assuming that its returns are a good guide for the ASX All Ordinaries Index. If anything, individual homes, and specific suburbs, are even more heterogeneous.
This anchoring bias is arguably exacerbated by the fact that media organisations tend to focus the bulk of their efforts on covering $1 million-plus properties. But as my first chart below shows, these homes are irrelevant to 95% of all Australian property buyers. In particular, this diagram depicts the distribution of all sales over the last 12 months sorted by price. You can see that homes worth more than $1 million accounted for just 5.7% of total sales. For what it is worth, 90% of all Australian homes sales were for dwellings worth less than $800,000.
Click to enlarge
<a href="/images/stories/march151.gif" rel="shadowbox" title="Click to enlarge"><img src="/images/stories/march151thumb.gif"></a>
Anyone familiar with Australia’s housing market will intuit that this makes sense. The median dwelling price across all regions and property types was only $400,000 in December 2011. As I reported earlier in the week, Australia’s dwelling price-to-disposable household income ratio has now fallen 12% from a peak of 5.2 times to its current level of around 4.5 times.
Notwithstanding these facts, the property lift-outs in most newspapers and magazines dedicate an inordinate amount of space to the tiny minority of homes that trade for more than magical million-dollar mark.
We also know that by dint of their incomes, many of the analysts, economists, retail bankers, fund managers, investment bankers, accountants and financial planners who are called on to proffer comment on Australian house prices live in its more salubrious suburbs. In this respect, they are especially ill-placed to make inferences about the broader market.
This is likely why during downturns, such as in 2008 or 2011, one frequently finds investment bankers amongst the most “bearish” on conditions, with shrill claims they are down 10% to 30%. Ironically, the bankers are probably right if they are talking about Bellevue Hill, Bondi or Point Piper. But these statements are meaningless when it comes to the 450,000 homes that sell each year that are not located in these areas.
Of course, if the bankers’ communities were representative of the national market there would be no bias. But they are not. In fact, they have systematically underperformed during these corrections. My next chart shows the change in the value of homes situated in Australia’s “cheap”, “expensive”, and “mid-priced” suburbs since the housing market started flat-lining in April 2010. The chart beneath it presents the same data in a slightly different way by comparing Australia’s most expensive suburbs with all others.
Click to enlarge
<a href="/images/stories/march152.gif" rel="shadowbox" title="Click to enlarge"><img src="/images/stories/march152thumb.gif"></a>
Click to enlarge
<a href="/images/stories/march153.gif" rel="shadowbox" title="Click to enlarge"><img src="/images/stories/march153thumb.gif"></a>
If you happen to live in the most affordable 20% of suburbs, the value of your dwelling drifted by only a trivial 1.5% over the last 1.5 years. If you inhabited the price cohort above, which we classify as the “middle 60%” of suburbs ranked by price, your home’s value declined, on average, by a still fairly modest 3.7%.
It is, by way of contrast, the affluent who have suffered the worst. The most expensive 20% of suburbs across Australia have registered much more substantial price falls of about 6.5% over this period. And you can bet that if you broke this group down further, into, say, the dearest 10% of suburbs, you would find steeper losses again.
So what explains the inferior performance of Australia’s most expensive localities over the last year or two? I would argue one candidate is post-GFC structural adjustment.
The financial services industry, which was one of the principal drivers of demand in the dearest suburbs in Australia’s non-resources states, has now quite radically altered its future growth expectations.
The retail banks, investment banks, and stock broking firms are not shelling out anything like the pay packets that were prevalent in the period preceding 2007. The abysmal performance of the share market more generally has weighed heavily on the portfolios of wealthier individuals, who were often loaded up with equities by their advisors. If only they had more cash and fixed-income!
I would venture that this new “air pocket” in housing demand is most relevant to non-resources states, and to homes valued at between, say, $3 million and $10 million. Australia is still creating extraordinary wealth, with the list of billionaires now numbering in excess of 20. And private sector wages growth –  and total disposable household income growth – have been expanding at normal rates.
In the last one to two years, home buyers have received a tremendous affordability dividend, with the circa 4% decline in house prices accompanied by healthy disposable income growth of around 5% per annum. And now due to the RBA’s benevolence, mortgage rates are 0.4 percentage points lower than they were in October 2011.
So I suspect the housing market will remain healthy for most Australians. RP Data-Rismark’s new daily house price index, which is quoted by the ASX, has reported small capital gains over February and March. There is nevertheless likely to be a fundamental downward adjustment in that specialised $3 million to $10 million segment that was once dominated by financial services professionals.
On the other hand, it is questionable whether demand at the extreme heights of the market, where estates trade for more than $20 million, and buyers typically have little debt, will be much affected.
Australia will keep on producing individuals worth hundreds of millions, if not billions, of dollars. For the time being, however, fewer will do so in financial services.
Christopher Joye is a leading financial economist and a director of Rismark International and Yellow Brick Road Funds Management. The above article is not investment advice.
 
 
 
 
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chrisjoye-JYhJsTrNRC

It's a millionaires' malaise, but housing market healthy for most Australians: Christopher Joye

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House prices rose by 0.8% in February and while that might not sound like much, it is the biggest monthly increase in 18 months.  Prices rose in six of our eight capitals and in almost every major regional city, highlighting the underlying strength of Australian residential property.
The future looks bright too, with auction clearance results now hovering around the low 60% mark.  Remember clearance rates over 50% means that prices should continue to grow.  In addition the amount of resale stock on the market continues to fall.  Stock levels have fallen since the beginning of the year.
Underlying demand for new property is also set to improve with a big lift in permanent settlement in Australia.  The number of people settling Down Under hit the highest levels in 3½ years in January.  Close to 14,000 people are now arriving each month, compared with the lows of 9,500 per month in late 2010.  Over the past year 146,500 people moved permanently to Australia.
To quote Craig James of CommSec “Population is power, lifting economic growth and momentum”.
More people means greater demand for homes, cars, household appliances and heaps of other stuff.
It is anticipated that just 135,000 new dwellings will be built across Australia this financial year.  This is against the 10-year average of 155,000 new homes built each year.  The slowdown is warranted given the drop in overseas migration during 2009 and 2010 and the oversupply of new housing in Victoria, South Australia and to some degree in Western Australia too.
But the recent lift in migration is expected to see new housing starts increase in coming years.  Our forecast is for 155,000 new starts across Australia during fiscal 2013 and up to 175,000 starts during 2013/14.
Queensland looks set to benefit the most.  Despite reports to the contrary, new housing is undersupplied across much of the state.   At present Queensland has a 16% market share of total residential building across Australia.  Our historic average is closer to 25%.  We forecast that new housing starts in Queensland could double (up 46%) over the next two to three years, rising to 38,000 new starts during 2014.
With close to $135 billion worth of new resource projects underway across the state, coupled with $29 billion worth of new infrastructure projects being delivered across the south-east corner of the state, the need for new housing is on the increase.  And much of this new supply – close to 70% – will be needed in the triangle between Noosa, Coolangatta and out to Toowoomba.
Michael Matusik is the director of independent property advisory Matusik Property Insights. Matusik has helped over 500 new residential developments come to fruition and writes the weekly  <a href="https://matusikmissive.wordpress.com/" target="_blank" title="Matusik's Missive">Matusik's Missive</a>. The Matusik Missive is free, however, reprinting, republication or distribution of any portion of this material, or inclusion on any website, is strictly prohibited without the written permission of Matusik Property Insights and may incur a charge.
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michaelmatusik-49YzLvdmNv

The future of Australian property markets looks bright – especially in Queensland

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There were 887 sales in Perth for the week ending March 14, according to the Real Estate Institute of Western Australia. This is up from 727 sales last week.
<img src="/images/stories/reiwamarch14.gif">
Property Observer readers can secure free tickets for the Perth Home Buyer and Property Investor Show by<a style="font-size: 14px; text-align: left;" href="https://www.homebuyershow.com.au/special-offers/propertyobserver-ticket-offer/" target="_blank"> clicking here</a>.
 
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cknowlton-QnEa6ntUYP

Perth sales up 35% on same week last year: REIWA

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The total land value of the 2,475 properties in Harden was $535 million according to NSW Valuer-General Philip Western.
The figure slipped 0.5% from the 2008 valuation of $538 million.
Residential land prices in the twin towns of Murrumburrah-Harden had a moderate decrease.
This decrease includes a median residential price drop of 5% from 2010’s figure $25,700.
Commercial land prices also experienced a moderate decrease over the three years but from 2010 to 2011 business land prices remained constant.
Industrial land in the area had a slight decrease since the last valuation although prices remained constant from 2010 to 2011.
Rural and hobby farm land prices in Harden Shire remained generally steady over the three years, although hobby farms towards the southern part of the shire had a moderate increase in value, while larger hobby farms towards the north and west of the  shire experienced a slight decrease.
<img src="/images/stories/hardenmap.gif">
Year on year, rural land prices in Harden increased 5% from $177,000 in 2010.
Village land values generally remained steady except for a slight increase in Galonga and a strong increase in Wombat.
Landowners and rate-paying-lessees received a notice of valuation this month.
The valuations are used to determine rates and land taxes on investment properties.
Typical residential land values were:
<ul>
<li>1,012 square square metres at Binalong Street, Harden valued at $22,600 </li>
<li>1,897 square square metres at Ward Street, Harden valued at $32,400 </li>
<li>1.993 hectares at Doolan Road, Harden valued at $67,500</li>
</ul>
Typical commercial land value was:
<ul>
<li>550 square metres at Neill Street, Harden valued at $17,700</li>
</ul>
Typical industrial land values were:
<ul>
<li>2,023 square metres at Vernon Street, Murrumburrah valued at $28,500 </li>
<li>7,653 square metres at Jack Ward Drive, Harden valued at $17,700</li>
</ul>
Typical rural land values were:
<ul>
<li>529 hectares at Bogolara Road, Berremangra valued at $582,000 </li>
<li>211 hectares at Fairview Road, Galong valued at $644,000 </li>
<li>242 hectares at Cullinga Mines Road, Harden valued at $663,000 </li>
<li>157 hectares at Back Demondrille Road, Murrumburrah valued at $576,000 </li>
<li>303 hectares at Jugiong Road, Harden valued at $670,000 </li>
<li>224 hectares at Moppity Road, Young valued at $680,000</li>
</ul>
Typical rural residential land values were:
<ul>
<li>6.8 hectares at Hume Highway, Jugiong valued at $38,100 </li>
<li>2 hectares at East Street, Harden valued at $80,000 </li>
<li>2 hectares at Barwang Road, Harden valued at $55,000 </li>
<li>8.4 hectares at Race Creek Road, Wombat valued at $96,800</li>
</ul>
Typical hobby farm land values were:
<ul>
<li>40.1 hectares at Jugiong Road, Harden valued at $194,000 </li>
<li>49.4 hectares at Ellerslie Road, Wombat valued at $260,000</li>
<li>25.5 hectares at Currawong Road, Murrumburrah valued at $208,000 </li>
<li>63.4 hectares at Kalangan Road, Galong valued at $200,000 </li>
<li>14.4 hectares at Cunningar Road, Galong valued at $50,000</li>
</ul>
Typical village land values were:
<ul>
<li>1,100 square metres at High Street, Galong valued at $16,500 </li>
<li>2 hectares at Stapylton Street, Jugiong valued at $38,400 </li>
<li>1,366 square metres at Parkes Street, Jugiong valued at $17,200 </li>
<li>1,265 square metres at Rose Street, Wombat valued at $23,300</li>
</ul>
 
 
<ul></ul>
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awalsh-7Ub9EypybQ

Land values flat in NSW region of Harden in past three years: NSW Valuer-General

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The pace of decline in residential construction picked up notably in the final quarter of 2011, with residential starts falling to their lowest level since the GFC led by a 21% drop in Queensland, according to the latest ABS figures.
December quarter dwelling commencements fell 13.4% (compared to the same period in 2010) to a seasonally adjusted total of 33,653.
This is more than double the 5.8% quarter-on-quarter decline recorded in the September 2011 quarter.
Over the December quarter, housing starts fell 2.7% to 21,845 following a fall of 1.7% in the September quarter while the more volatile unit starts sector fell by 13.9% to 10,739 following a fall of 10.7% in the September quarter.
Apart from the big drop in Queensland dwelling starts there was 7.8% fall in Victoria and smaller falls in South Australia, WA, NT and the ACT.
NSW and Tasmania recorded small rises in dwelling starts.
 
Seasonally adjusted dwelling starts 
 
<table style="width: 459px;" border="0" cellspacing="0" cellpadding="0"><tbody>
<tr>
<td width="76" nowrap></td>
<td width="51" nowrap>
 NSW
</td>
<td width="52" nowrap>
 Vic
</td>
<td width="47" nowrap>
 Qld
</td>
<td width="55" nowrap>
 SA
</td>
<td width="44" nowrap>
 WA
</td>
<td width="44" nowrap>
 Tas
</td>
<td width="39" nowrap>
 NT
</td>
<td width="52" nowrap>
 ACT
</td>
</tr>
<tr>
<td width="76" nowrap>
Dec-10
</td>
<td width="51" nowrap>
7628
</td>
<td width="52" nowrap>
14028
</td>
<td width="47" nowrap>
6603
</td>
<td width="55" nowrap>
2553
</td>
<td width="44" nowrap>
5276
</td>
<td width="44" nowrap>
746
</td>
<td width="39" nowrap>
261
</td>
<td width="52" nowrap>
1683
</td>
</tr>
<tr>
<td width="76" nowrap>
Mar-11
</td>
<td width="51" nowrap>
8483
</td>
<td width="52" nowrap>
13957
</td>
<td width="47" nowrap>
7218
</td>
<td width="55" nowrap>
2494
</td>
<td width="44" nowrap>
5051
</td>
<td width="44" nowrap>
760
</td>
<td width="39" nowrap>
456
</td>
<td width="52" nowrap>
1072
</td>
</tr>
<tr>
<td width="76" nowrap>
Jun-11
</td>
<td width="51" nowrap>
7421
</td>
<td width="52" nowrap>
15075
</td>
<td width="47" nowrap>
6253
</td>
<td width="55" nowrap>
2425
</td>
<td width="44" nowrap>
5087
</td>
<td width="44" nowrap>
649
</td>
<td width="39" nowrap>
159
</td>
<td width="52" nowrap>
1397
</td>
</tr>
<tr>
<td width="76" nowrap>
Sep-11
</td>
<td width="51" nowrap>
7301
</td>
<td width="52" nowrap>
12937
</td>
<td width="47" nowrap>
6824
</td>
<td width="55" nowrap>
2540
</td>
<td width="44" nowrap>
4782
</td>
<td width="44" nowrap>
574
</td>
<td width="39" nowrap>
296
</td>
<td width="52" nowrap>
1290
</td>
</tr>
<tr>
<td width="76" nowrap>
Dec-11
</td>
<td width="51" nowrap>
7342
</td>
<td width="52" nowrap>
11993
</td>
<td width="47" nowrap>
5605
</td>
<td width="55" nowrap>
2149
</td>
<td width="44" nowrap>
4626
</td>
<td width="44" nowrap>
607
</td>
<td width="39" nowrap>
236
</td>
<td width="52" nowrap>
1051
</td>
</tr>
</tbody></table>
 
Source: ABS
 
 
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lschlesinger-FZcF9M3vE6

Residential building starts plummet to lowest since GFC: ABS

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Property group Stockland has continued with its plans to reweight the business in favour of retail assets, announcing an agreement to sell its 55% stake in the Moorebank Industrial Property Trust (MIPT) for $123 million.
It will sell its stake in the trust to Qube Logistics, one of the MIPT joint venture partners, with settlement expected before June 30 2012.
According to Goldman Sachs REIT analyst Peter Zuk, the Moorebank site is Stockland's second largest industrial asset (by book value) representing 14.2% of its industrial portfolio.
The proposed industrial sale follows Stockland announcing its <a target="_blank" href="https://www.propertyobserver.com.au/retail/stockland-buys-centro-townsville-directly-opposite-current-stockland-centre/2012031253806">purchase of Centro Townsville for $36.5 million earlier this week.</a>
Stockland has also announced it would extend its on-market security buyback to up to 10% of issued capital, “reflecting its commitment to increasing returns through active capital management”.
Stockland CEO of commercial property John Schroder says the sale supports Stockland’s strategy to reweight its commercial property portfolio from office and industrial to higher-returning retail assets.
“While the proposed Moorebank Intermodal terminal remains a key NSW infrastructure project, it is not aligned with our strategy and its sale supports our active capital management program,” he says.
“This brings our total asset sales so far in the 2012 financial year to $918 million – funding we use to improve security holder returns through our security buyback and investing for future growth as well as maintaining low debt.”
Schroder’s comments echo those made by Stockland CEO Matthew Quinn at its interim results briefing last month when he said the property group <a target="_blank" href="https://www.propertyobserver.com.au/retail/stockland-continues-to-focus-on-higher-yielding-retail-commercial-property/2012020953322">would continue to sell its commercial and industrial assets and use the proceeds to reinvest in higher-yielding and less volatile retail assets.</a>
Retail assets have generated returns of 10% for Stockland, while industrial assets have generated 8.3% and office assets 7% return.
Following the latest announcement, Quinn says Stockland remains committed to growing its return on equity by selling lower-yielding assets to invest accretively in its own securities and fund future growth.
“Our securities are trading at a level that in our view does not reflect the underlying value of our business nor our strong capital position,” he says.
“With our conservative balance sheet and ongoing asset sales, we are well placed to continue to fund our buyback up to 10% of issued capital while retaining our strong financial position with low gearing and long-dated debt.”
Stockland’s gearing at December 31 2011 was 23%. Taking into consideration the asset sales program and the full cost of the extended buyback, pro forma gearing will remain around this level.
A minimum liquidity buffer of at least $500 million will continue to be maintained.
Stockland announced on August 19 2011 that it would undertake an on-market buyback of up to 5% of its issued capital (119.2 million securities). So far Stockland has bought back 4.75% of securities (113.2 million) at an average price of $3.02.
 
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Stockland to sell stake in industrial trust as reweighting towards retail continues

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A 22% drop in first-home buyer numbers in January, most of which occurred in NSW, indicates that talk of a housing market recovery in December last year might have been premature, says AMP chief economist Shane Oliver.
In absolute terms ABS figures show the number of NSW first-home buyers fell from 4,280 to 2,686 (the lowest number since September 2011), while the size of the average first-home buyer mortgage dropped slightly from $297,000 to $295,000.
In comparison, in Victoria, where there have been recent changes to stamp duty concession rules, first-home buyer numbers fell relatively modestly from 2,276 to 1,905. Western Australia was the only state where the number of first-home buyers increased (rising slightly from 1,263 to 1,278).
The fall in NSW first-home buyers was accompanied by a 6.3% drop in NSW mortgage commitments following a 7.6% rise in December as NSW first-home buyers rushed to buy homes ahead of the December 31 cut-off for stamp duty concessions on existing properties.
Overall, the mortgage market dropped 1.2% over January, well below CommSec expectations of a 2% gain over the month.
Oliver says the December figures were heavily distorted by the NSW stamp duty concession deadline.
“Virtually all that has happened is demand has been pulled forward, and we’re still looking for the fundamental recovery to come,” he says.
SQM Research managing director Louis Christopher is also bearish about a recovery, currently “neutral to negative about any type of rebound in approvals for February”.
“We believe the independent rise in lending rates by the major banks dented sentiment for the month, which has transpired into soft auction clearance rates in Sydney and Melbourne for this time of year. It is possible though that there may be a continued recovery in housing finance approvals for states such as Western Australia,” he says.
According to Christopher, when you exclude refinancing from the equation NSW mortgage commitments actually fell by greater than 6.3%.
“Unfortunately the ABS does not provide a state breakdown excluding refinancing, so there is a bit of guess work there,” he says.
December quarter figures released by Real Estate Institute of Australia (REIA) today show the two rate cuts of November and December helped push up house prices by 0.7% over the three months (0.1% for other dwellings), with Melbourne the biggest beneficiary with a 1.9% gain in house prices to $550,000.
However, the Australian weighted average median house price of $522,696 was 3.2% lower compared to the December quarter 2010.
Over the year, median prices declined for both types of dwellings. Compared to the same quarter of 2010, the median house price decreased 3.2%, while the median house price for other dwellings recorded a 1.0% decline.
Click to enlarge
<a title="Click to enlarge" rel="shadowbox" href="/images/stories/reiamarch14.gif"><img src="/images/stories/reiamarch14thumb.gif"></a>
Source: REIA
All other key figures in the January ABS figures indicate momentum has dropped out of the mortgage market.
The value of new home loans in January fell by a seasonally adjusted 2.3% following rises of 3.8% in December and a 2.1% rise in November helped by the two RBA rate cuts.
Loans for investment housing fell 7.1% after rising strongly by 7.5% in December and by 1.8% in November.
Loans to owner-occupiers were stagnant in January, following a rise or 2.3% in December and a 1.4% gain in November.
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Talk of housing market recovery premature: AMP’s Shane Oliver

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The market capitalisation of <country-region><place>Australia</place></country-region>’s listed A-REIT sector is $75 billion and comprises 54 companies. Of these, 20 are included in the A-REIT 300 Index. The total market capitalisation of these 20 A-REITs is $65 billion, or 86% of the total. 
The A-REIT sector is further comprised of four sub-sectors. The diversified sub-sector contains A-REITs such as GPT, Stockland and Mirvac. These funds comprise assets that include any combination of retail, office and industrial and may also have significant exposure to other asset classes such as residential development or retirement. The retail sub-sector is dominated by the two <city><place>Westfield</place></city> entities, Westfield Group and Westfield Retail Trust, which together comprise 83% of the retail sub-sector and 39% of the broader Index. The office and industrial sub-sectors each comprise 8% of the Index, as shown in chart 1.
<img src="/images/stories/wistfeb281.png" width="470">
 The office sub-sector outperformed on a total return basis in 2011, as shown in chart 2. While all office A-REITs provided positive total returns, Charter Hall Office REIT was the strongest performer driven largely by the expectation of privatisation. The 2011 retail sub-sector total return was driven by Westfield Group’s underperformance as American consumers slowed spending and muted rental growth prospects in its domestic portfolio weighed heavily.
<img src="/images/stories/wistfeb282.png" width="470">
The prognosis for A-REITs in 2012 is positive. Partial closure of a persistent and material gap between price and underlying asset values will provide positive returns. Diversified A-REITs with portfolios aligned to the residential markets are expected to provide positive returns commensurate with the ongoing supply shortfall and the anticipated modest recovery in housing markets later in 2012. Net office space absorption in a market without excess vacant space is expected to provide positive growth among the office A-REITs.
<table border="0" cellspacing="0" cellpadding="0" width="413"><tbody>
<tr>
<td width="81" nowrap valign="bottom">
 
</td>
<td width="216" nowrap colspan="3" valign="bottom">
Total Returns - A-REITS 2011
</td>
<td width="52" nowrap valign="bottom">
 
</td>
<td width="65" nowrap valign="bottom">
 
</td>
</tr>
<tr>
<td width="81" nowrap valign="bottom">
 
</td>
<td width="94" nowrap valign="bottom">
A-REIT Index
</td>
<td width="79" nowrap valign="bottom">
Diversified
</td>
<td width="42" nowrap valign="bottom">
Retail
</td>
<td width="52" nowrap valign="bottom">
Office
</td>
<td width="65" nowrap valign="bottom">
Industrial
</td>
</tr>
<tr>
<td width="81" nowrap valign="bottom">
Sub-sector
</td>
<td width="94" nowrap valign="bottom">
-7%
</td>
<td width="79" nowrap valign="bottom">
2%
</td>
<td width="42" nowrap valign="bottom">
-9%
</td>
<td width="52" nowrap valign="bottom">
22%
</td>
<td width="65" nowrap valign="bottom">
-5%
</td>
</tr>
</tbody></table>
 
Retail A-REIT performance will be dominated by the Westfield entities. Retail turnover growth is muted. Rental growth in <country-region><place>Australia</place></country-region> will be negatively impacted but will remain positive as a consequence of the quality of the underlying portfolios. Westfield Group will continue to recycle capital and redevelop assets to support security price growth.
Industrial A-REIT performance will be determined by Goodman Group, with positive prospects despite its exposure to European development activities.
 Mark Wist is senior asset consultant at <a href="https://www.atchison.com.au/" title="Atchison Consultants" target="_blank">Atchison Consultants</a>.
 
 
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markwist-Vaq6S8Xoby

Office A-REITs outperformed all other sectors in 2011 

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Rosslea has the fastest-selling houses in Queensland, with houses taking an average of just 27 days to sell, according to RP Data. It just edged ahead of Mornington and Pallarenda. Property Observer notes there were just 12 sales over the last year in Rosslea.
<table width="331" cellpadding="0" cellspacing="0" border="0"><tbody>
<tr>
<td width="91">
Locality
</td>
<td width="240">
Average number of days on market
</td>
</tr>
<tr>
<td width="91">
<a target="_blank" href="/news">Rosslea</a>
</td>
<td width="240">
27
</td>
</tr>
<tr>
<td width="91">
<a target="_blank" href="/news">Mornington</a>
</td>
<td width="240">
28
</td>
</tr>
<tr>
<td width="91">
<a target="_blank" href="/news">Pallarenda</a>
</td>
<td width="240">
28
</td>
</tr>
<tr>
<td width="91">
<a target="_blank" href="/news">Millmerran</a>
</td>
<td width="240">
31
</td>
</tr>
<tr>
<td width="91">
<a target="_blank" href="/news">Sun Valley</a>
</td>
<td width="240">
41
</td>
</tr>
<tr>
<td width="91">
<a target="_blank" href="/news">The Gap</a>
</td>
<td width="240">
42
</td>
</tr>
<tr>
<td width="91">
<a target="_blank" href="/news">Basin Pocket</a>
</td>
<td width="240">
45
</td>
</tr>
<tr>
<td width="91">
<a target="_blank" href="/news">Dysart</a>
</td>
<td width="240">
46
</td>
</tr>
<tr>
<td width="91">
<a target="_blank" href="/news">North Booval</a>
</td>
<td width="240">
46
</td>
</tr>
<tr>
<td width="91">
<a target="_blank" href="/news">Spring Hill</a>
</td>
<td width="240">
46
</td>
</tr>
</tbody></table>
 
Source: RP Data
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Rosslea leads fastest-selling localities in Queensland: RP Data

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<img src="/images/stories/480.gif">
The median asking rent for units in Sydney in January 2012, according to Residex. This is up 6.7% on the same time last year.
 
<hr>
 
<img src="/images/stories/450.gif">
The median asking rent for units in ACT in January 2012, according to Residex. This is up 4.7% on the same time last year.
 
<hr>
<img src="/images/stories/425.jpg">
The median asking rent for units in ACT in January 2012, according to Residex. This is down 1.2% on the same time last year.
 
<hr>
 
<img src="/images/stories/385.gif">
The median asking rent for units in Perth in January 2012, according to Residex. This is up 6.9% on the same time last year.
 
<hr>
<img src="/images/stories/375.gif">
 
The median asking rent for units in Melbourne in January 2012, according to Residex. This is up 7.1% on the same time last year.
 
<hr>
<img src="/images/stories/365.gif">  
The median asking rent for units in Brisbane in January 2012, according to Residex. This is up 1.4% on the same time last year.
 
<hr>
 
<img src="/images/stories/290.gif">
The median asking rent for units in Adelaide in January 2012, according to Residex. This is up 1.8% on the same time last year.
 
<hr>
<img src="/images/stories/275.gif">
The median asking rent for houses in Hobart in January 2012, according to Residex. This is exactly the same as the same time last year.
Photograph of Mosman block by Brian Yap, courtesy of <a target="_blank" href="https://www.flickr.com/">Flickr</a>.
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