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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Perth seventh most expensive CBD office market in the world, Sydney falls to 10th: Knight Frank

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Today I am going to dive into the latest affordability and daily house price data.
According to Rismark International analysis, <country-region><place>Australia</place></country-region>’s “all regions” dwelling price-to-disposable household income ratio stabilised at four times in the final quarter of 2011. This represents a 12% fall from the ratio’s post-GFC peak of 4.6 times in June 2010.
The December dwelling price-to-income ratio of four times is the lowest the benchmark has been since June 2003, and is yet another indication of the substantial improvement in housing affordability that materialised over 2011 (see chart).
Click to enlarge
<a href="/images/stories/joyemarch131.gif" rel="shadowbox" title="Click to enlarge"><img src="/images/stories/joyemarch131thumb.gif"></a>
Beyond the favourable conjunction of rising incomes and declining house prices, affordability has been boosted by the RBA’s bold decision to cut its cash rate twice in November and December 2011.
While banks subsequently clawed back circa 10 basis points of this interest rate relief in February, housing conditions nevertheless appear to be stabilising. This has been evidenced in better home loan approval volumes, with <place><country-region>Australia</country-region></place>’s largest mortgage broker, AFG, reporting its biggest February month on record.
There have also been some tentative signs of solidity in the new daily house price index data published by RP Data-Rismark in concert with the ASX. Following a fall in prices during the seasonally soft month of January, home values have staged a rebound in February and March (see chart).
Click to enlarge
<a href="/images/stories/joyemarch132.gif" rel="shadowbox" title="Click to enlarge"><img src="/images/stories/joyemarch132thumb.gif"></a>
In 2011 the median Australian dwelling price fell by 4.8% from $420,000 to $400,000, based on Rismark’s analysis of <country-region><place>Australia</place></country-region>’s largest database of home sales. In contrast, disposable incomes on a per household basis advanced by 5.3%.
In order to calculate total disposable income on a per household basis (i.e., accounting for multiple income earners per household as opposed to simply average earnings per individual), Rismark takes the ABS National Accounts’ aggregated estimate of disposable household income and divides by the number of households each quarter.
To compare like with like, Rismark produces a “trimmed mean”, or “average” dwelling price in addition to its standard median dwelling price (the household income estimates are quarterly averages rather than medians).
There are some non-cash line items in the National Accounts computations of disposable household incomes that may not be relevant to purchasing power. One of the principal non-cash variables is “imputed owner-occupied rents”. Stripping these out as best it can, Rismark’s research implies that the dwelling price-to-income ratio has fallen from a peak of 5.2 times to 4.5 times today (see final chart below).
Click to enlarge
<a href="/images/stories/joyemarch133.gif" rel="shadowbox" title="Click to enlarge"><img src="/images/stories/joyemarch133thumb.gif"></a>
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

House prices continue rising in March: Christopher Joye

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Gold Coast apartment prices improved by 5.3% during the December 2011 quarter to a median price of $350,000, according to the latest figures from Real Estate Institute of Queensland.
At the same time Ray White chairman Brian White reports that the group’s Surfers Paradise office, headed up by Mike Willems, was the top performer over the month.
White describes it as a “terrific achievement in such a tough market”.
“With the strengthening in buyer interest, the power of marketing continues to return great benefits to our sellers. Fewer days on market and so often a sale price to delight,” he says.
White says that a further 16 properties out of the 150 that were part of the “The Event” auction at the end of January had sold post-auction taking the total to 104.
Overall, <state>Queensland</state> was the most improved market, though White acknowledged this may be due to “the terrible conditions <place><state>Queensland</state></place> experienced in the first few months of 2011 because of floods and cyclones”.
“What was interesting was the strength of many of our regional businesses in <state><place>Queensland</place></state> – Rockhampton, Toowoomba and Gladstone being particularly prominent,” says White.
“Regional centres close to the massive investment expenditures through mining boom have seen their residential values increase nicely. For example, <place><placename>Gladstone</placename><placetype>City</placetype></place> median house price is up to over $482,000, 32% up from 12 months ago.” Ray White’s strongest <city><place>Brisbane</place></city> office was the riverside suburb of Bulimba.
REIQ figures show a 2011 median price of $510,000 for Bulimba, virtually unchanged from $509,500 recorded in 2011. Overall the median unit and townhouse price in <city><place>Brisbane</place></city> increased 2% to an even $400,000 during the December quarter.
According to the REIQ, median price reductions were recorded in some regional areas, however the unit and townhouse market in these regions is historically much smaller than their housing market and is more prone to median price fluctuations on a quarterly basis.
<place><placename>Fraser</placename><placename>Coast</placename></place>, for example, registered a median unit price fall of 15.6% to $270,000 over the December quarter, however this was because there was a reduction in the number of new and waterfront properties sold compared with the previous quarter. For the year ending December its median unit price was steady.
An increase in the preliminary numbers of unit sales was recorded on the <placename>Fraser</placename><placename>Coast</placename>, Bundaberg, Rockhampton, Townsville and <city><place>Cairns</place></city> during the quarter. With the exception of <city><place>Cairns</place></city>, all major regions posted either steady or increased median unit prices for the year ending December 2011.
‘‘What we are starting to see is that as 2011 progressed, so did confidence levels in our property market with prices beginning to strengthen,’’ says REIQ chief executive Anton Kardash. 
‘‘Many regions posted their most robust price results this quarter since prior to the natural disasters at the beginning of last year.
‘‘As we move into 2012, REIQ-accredited agencies are reporting healthier levels of enquiry, with first-home buyers and investors especially taking a keen interest in the more affordable unit and townhouse market.’’
According to reiq.com, there are more than 5,000 listings for <state><place>Queensland</place></state> units and townhouses currently for sale under $350,000. 
The numbers of first-home buyers continues to improve in <state><place>Queensland</place></state>, with the latest ABS figures showing they now represent about 20% of the market – the highest proportion for more than two years.
The softening of property prices over the past two years, as well as relatively low interest rates, is partially behind this increase in demand from first-time buyers. 
‘‘Thousands of first-home buyers brought their buying decisions forward when the first-home owners’ boost was available in late 2008 and 2009,’’ says Kardash. 
‘‘Their numbers then hit historic lows in 2010 once the boost was no longer available so what we are seeing now is a return to more normal levels of first-home buyer activity, which is very positive for our market.’’
 
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Ray White records strong February as Gold Coast apartment prices start recovery

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The government has offered many half-hearted incentives to encourage purchasers to choose regional towns over the more “desired” inner-city locations for their property purchases. Much of this encouragement has been via grants such as the first-home owners’ boost, which enabled some buyers to claim in excess of $30,000 if building or purchasing off the plan in an outer-suburban zone.
However the “fixes” have only been temporary and commonly when the incentive finished, overall turnover dropped along with the median house price. Calls for more permanent solutions such as heavy investment into infrastructure and the decentralisation of jobs have barely been heeded and consequently growth has been lacking.
However it now seems the government has unwittingly stumbled across its greatest and most successful incentive yet. The consistent squeeze and shuffling of cards in the inner- and middle-ring locations, causing median prices to rise disproportionably compared to over all affordability, alongside vain attempts to address shortages for renters and home buyers with mass approvals of high-rise accommodation or poorly facilitated new estates, is starting to force a dramatic shift in the way regional towns are viewed by our home buyer market.
You may remember the furore that was invoked early last year by Prosper <country-region><place>Australia</place></country-region>’s call for a “first-home buyer strike”.  At the time many in the industry viewed it as a joke, it was based on a preconceived idea that <place><country-region>Australia</country-region></place> was on the brink of a housing crash.  “Price falls are imminent – protect yourself. Don’t buy now!” was the slogan.  However as of writing, it’s yet another doomsayer prediction that has failed to eventuate with an upward turn in median prices already evidenced in various pockets of the country.
However, if you didn’t know any better, you could look back in retrospect and herald it a success, because over all turnover throughout the course of 2011 – according to data thus far released by the Valuer General – is more than 20% lower than can be recalled for over a decade. Due to our low unemployment rates and relatively healthy economic prospectus, the effect on prices wasn’t quite the demise Prosper <place><country-region>Australia</country-region></place> manager David Collyer desired. Prosper Australia had its sights set on a crash to make US vendors suffering a 40% drop in the value of their properties look like a walk in the park – thankfully we have better fundamentals.
However, while a drop in median house price won’t cripple a real estate agency – especially as on a national scale it was less than 5%  (Dec 2010 – Dec 2011) –  significantly lower turnover will. Throughout the year, larger real estate franchises shed staff and many smaller companies shut up shop. Those that held on survived only with the support of their rent roll which grew from the flood of first-ome buyers unable – or unwilling – to take a step onto the first rung of the property ladder.  Therefore, whether it was down to Prosper <country-region><place>Australia</place></country-region>’s’ campaign or not, buyers did indeed “strike” for want of a better word.
Of course, it wasn’t just first-home buyers who decided to abstain from the market in 2011; upgraders, downsizers and investors all kept their cards close to their chest either unwilling or unable to make a housing commitment.  However, we live in a welfare state and have a political and social responsibility to help those most in need. When it comes to purchasing property, there is only one demographic that fits this agenda and thus captures the media headlines – first-home buyers.
Not purchasing property in 2011 didn’t really help the first-home buyer cause.  Like it or not, “opting out” of the housing market just isn’t an option. We all require shelter and if we’re not buying, we’re living with family, renting, or one of the 105,000 nationwide with no permanent abode to call home. Inflation throughout the course of 2011 was roughly 3.1%, however due to the consequence of more than 20% lower turnover and the ensuing pressure on the rental market, yields in areas of high demand increased some 13% (according to research done by RUN property). Therefore even though median house prices have dwindled, which according to the HIA Commonwealth Bank Housing Affordability Index has improved housing affordability by 8.3% in December 2011 compared with December 2010 (something worthy of celebration), the impact certainly hasn’t assisted first-home buyers, who are struggling to save while paying exorbitant weekly rents.
Since the GFC banks have tightened their lending criteria falling hardest on the first-time buyer demographic. It’s now essential to show evidence of “genuine savings”, which should make up at least 5% of the deposit. Gifted, borrowed or inherited one- off lumps of cash don’t always fit the bill. According to Loan Market, 77% of the first-home buyers surveyed found themselves unable to meet the “genuine savings” criteria. It’s also evidenced in various other surveys, including one from ING that found only 21% of first-home buyers approached felt they’d be able to raise the required amount.
This should come as no surprise to those of us who have, at some point in our lives, had to work our way from the rental ladder to ownership.  However saving under the added pressures of a 21st-century “rich” lifestyle, which often requires possession of various big-ticket’’ items such as a car, computer, smartphone and so forth, upon commencement of employment, not to mention the pressures of population growth pushing house prices ever northwards, makes saving the required deposit harder now than ever before. This is one of the reasons I have greatly favoured encouragement of the first-home buyer’s savings account, which so far has had a relatively small take-up.
Due to the interest rate drop late last year and boost in consumer confidence, there has been a marked increase in buyer activity in the beginning of 2012 – most noticeably in the first home buyer sector.
What’s interesting however is where this activity has centralised. Since mid-2011 there’s been an increasing trend towards regional locations, which could have us changing the term “buyer strike” to “buyer vacation”. It seems a growing proportion of this demographic have finally decided to satisfy their need for ownership through a surge towards the substantially more affordable rural or outer-suburban zones. Last year, some of the biggest quarterly and yearly jumps in median value were experienced in regional locations.  Areas such as Ballarat, <city>Bendigo</city>, and Shepparton in <state><place>Victoria</place></state> showed rises in excess of 5%, while prices in more popular (and consequently over-populated) suburbs in the inner city dropped some 20% in certain pockets.  Meanwhile in <city><place>Sydney</place></city>, suburbs situated some 30 kilometres west of the city, which have historically suffered from low demand, are now showing signs of being future hotspots set for a potential boom in growth.  Of course, any location close to a mining town – such as Rockhampton and Toowoomba in <place><state>Queensland</state></place> for example – has also attracted healthy interest and consequent rises in their population and median value.
Recently, realestate.com.au conducted a “mood of the meeting” survey on its Facebook page asking first time buyers if they were interested in purchasing rural’ to gain entry into the property market.  The survey attracted an overwhelmingly positive response, with most replying either “yes, considering” or “already done”.
For example, in <city><place>Melbourne</place></city>, the population in outer-suburban Wyndham increased by 12,600 (8.8%) in 2010, which was both the largest and fastest increase of all Victorian local government areas. Strong growth was also experienced in Whittlesea (up 8,900 people or 6.1%) and Casey (8,100 people or 3.3%). The rises in median give weight to the assumption that they are gaining popularity with an increasing number of home buyers.
In <state>New South Wales</state> areas such as <city>Blacktown</city> (up 8,300 people), The Hills Shire, and <place>Liverpool</place> (both up by 3,400 people). In <state><place>Western Australia</place></state>, strong population growth has boomed in the outer-suburban fringes. The five local government areas of Wanneroo, Rockingham, <place>Stirling</place>, Swan and Armadale) accounted for more than one-third of the growth across the state in the year to June 2010.
 
<hr class="system-pagebreak">
 
The change is a positive move from a social and political perspective, and it’s vital we not only encourage it, but also prevent a reversal by following the population surge with significant investment in infrastructure and industry. Anyone who has experienced rural living or small-town society will vouch for the strength of community that often emanates from the resident population in these towns.  It’s highlighted best when there’s a disaster such as the recent floods. 
The neighbourly spirit, camaraderie and social blossoming that results as cleanup and support systems kick into action bring out the true Australian spirit – the same spirit that was witnessed during the early settlement period and which often lacks in inner urban vicinities where people have little connection with those who live in nearby surrounds.  Although some will vacate a town after a national disaster of significant proportions – such as the recent earthquakes in Christchurch NZ – many will develop a deeper connection and respect for the land and the community strengthens.  As a lifestyle option living regional has riches to offer, and yet continually plays the poor sibling to our more populated capitals.
In urban zones, initiatives such as “neighbour day” have highlighted how little we know about those who live around us.  In short, the best asset you can have as a vendor is contained in the community that surrounds your home.  A flourishing community encourages extended periods of residency resulting in a happier and healthier population, lower crime rates, and subsequently helps underpin house prices.
Previously the overwhelming trend for buyers has been to invest in city suburbs with vibrant night life and abundance of well established infrastructure.  However, while regional locations can’t always compete on the same level, they do offer a viable option to secure cheaper housing and a quality of lifestyle which is often more suited to raising a family. It won’t please David Collyer – who wants home buyers to abstain all together, but calling for a ‘home buyer ‘rural vacation’ for those who are willing and able, rather than a ‘home buyer strike’ should have overwhelming support from all of us who hold Australia’s future interests to heart. 
For years, state governments have been trying to improve affordability and address population growth somewhat unsuccessfully. However a gradual boost in the regional populous in small satellite towns with already well developed facilities, will hopefully encourage greater investment leading the way for larger institutions to take up shop and thus create opportunities for employment.  Other initiatives already underway, such as the National Broadband Network, will also have a positive influence. 
As for investors, the party line has always been to invest as close to the city as possible in order to gain the greatest capital returns, however our cities are now so well populated, it’s clearly not going to always be a desirable prospect for home buyers – particularly families - who are essentially the demographic which fuel capital growth.  Towering high rise developments and crowded polluted roads and transport systems, along with ever decreasing blocks of land, are limiting the larger proportion of our buyer market in inner-urban zones. Instead a view to investment in well established regional towns could be a step in the right direction for those who want to take advantage of what seems to be the start of  a mini boom.
All in all, instead of praying for a monumental bubble burst to improve options for home buyers, the call should be going out from organisations such as Prosper <place><country-region>Australia</country-region></place> to promote the regional agenda.
Catherine Cashmore is an experienced buyer advocate, property investor and market analyst.  She regularly appears as Channel Ten’s property expert on The Circle.
Photographs by Scott Davies and Mike Moody, courtesy of <a href="https://flickr.com/" target="_blank">Flickr.</a>
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catherinecashmore-6LXia3pPQj

Home buyers head for the hills, and the outer suburbs

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Last week, <a target="_blank" href="https://www.propertyobserver.com.au/commercial/how-to-market-and-sell-your-commercial-property-investment/2012030553685">I explored the various selling methods available to you</a>, which ones were the preferred, and why.
Plus, you were also given some initial insight into the benefits of using web (or "wealth") marketing techniques. But how does this differ from traditional marketing for commercial property?
Traditional marketing tends to adopt a "scatter gun" approach, which depends heavily upon expensive media advertising and a detailed information memorandum.
Whereas stealth marketing is more like using a "laser gun", focusing on your target market using a personalised direct-email campaign, plus a dedicated website, to explain everything about the property.
What else should you expect from your selling agent?
Your agent should be able to explain the current state of the market to you in detail, as well as providing a firm estimate of the likely price for your property.
But you're entitled to expect a whole lot more. And so, by way of a quick checklist, a good selling agent should also:
<ol start="1">
<li>Gather and collate all necessary information to ensure purchasers will be fully informed and capable of making a decision to buy;</li>
<li>Liaise with you and your lawyers to make sure the documentation is fully complete and correct; </li>
<li>Create a dedicated website (or at least several webpages) for your property – making everything available to prospective buyers, in exchange for their contact details;</li>
<li>Co-ordinate the overall marketing campaign: mailing out brochures and letters (or preferably, sending out personally addressed emails, with direct links for the website) to those potential purchasers known to be currently active in the market;</li>
<li>Try to secure editorial coverage within the various media being used;</li>
<li>Qualify and record all the enquiries that are generated throughout the marketing campaign;</li>
<li>Arrange for the various inspections to take place;</li>
<li>Prepare prospective buyers for the actual auction or tender;</li>
<li>Keep you advised as to progress, on at least a weekly basis;</li>
<li>Ensure all preparations are made, so that everything runs smoothly on the day of the auction or the close of tenders;</li>
<li>Conduct the auction (or open the tenders with you) and attend to signing of the contracts with the successful purchasers;</li>
<li>Depending upon local requirements, ensure an early release of the deposit;</li>
<li>Follow up with your lawyers to ensure that the documents have been executed to their satisfaction; and</li>
<li>Once the deposit has been released account to you with the deposit monies, 30 days after the sale, setting everything out in a detailed statement for the sale.</li>
</ol>
Bottom line: Unless your selling agent is proposing to undertake these vital 14 steps on your behalf, then you should be looking elsewhere.
Chris Lang is an advisor to commercial property investors and gives keynote speeches and regular seminars on the best way to invest in commercial property. He maintains a blog, <a href="https://his-best.biz/" title="Chris Lang's blog" target="_blank">his-best.biz</a>, which he updates regularly about the best way to get the most out of your commercial property investment.
 
 
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Fourteen steps a selling agent should take when selling commercial property

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The Telstra store premises on Collins and Swanston streets, reputed to be one of the busiest pedestrian city corners in Melbourne, will go to auction on March 22.
The shop at 220 Collins Street measures just 65 square metres and is situated on the ground floor of the 1932 Art Deco Manchester Unity building, whose completion was said to signal to Melburnians the end of the Great Depression.
It was subsequently subdivided and sold down as individual units in 1996. The Telstra store sits in the most prominent corner position of the building, providing dual exposure to both Collins and Swanston Streets.
It brings in estimated annual net income of $543,000 (with land tax recoverable from the tenant), equating to a yield of around 5%.
The vendors of the Telstra Store were swayed to offer the property to the market after the strong result achieved at Shop 1, 55 Swanston Street in mid-2011 which sold at auctionfor a tight yield of 5.55% with the understanding that Telstra is located on a better intersection in a much more populated segment of the street.
It stands on a prime piece of Melbourne CBD real estate opposite the Town Hall, with about 15 million pedestrians filing past every ear – 50,000 each day.
<img src="/images/stories/220collins.jpg">
The store is being marketed by Josh Rutman, Mark Wizel and Max Cookes of CBRE with a price tag of $9 million plus and a guaranteed 5% annual rent increase.
Wizel expects local private investors to compete with offshore investors for the asset.
A recent report by Savills Australia found the Melbourne’s CBD retail property market to be holding up well despite the slowdown in consumer spending, with the overall vacancy rate still under 4% and street-front vacancies in the main Swanston Walk precinct at a low 1.2%.
<img style="border-style: initial; border-color: initial; float: left; margin: 5px;" src="/images/stories/220collins2.jpg">According to Savills national head of research Tony Crabb, Melbourne CBD retail remains an attractive “defensive” asset offering relatively attractive yields of 4% to 7%.
“CBD retail, in particular, has attracted multiple buyers, not only for individual stores, but also for larger enclosed centres and arcades,’’ he says.
Recent nearby sales include 255 Swanston Street, which sold for $4.9 million on yield below 4%, and 303-305 Elizabeth Street, which went for $3.2 million on a 5% yield.
The retail spot is being offloaded by ASX-listed property fund manager Charter Hall, which has held it since 1997 in one of its small unlisted retail funds.
Telstra took over from Vodafone as its tenant last year. The shopfront has not been vacant in the last 40 years.
The Manchester Unity building was the tallest building in Melbourne when it was finished in 1932.
The corner tower is built in the commercial Gothic Modern style inspired by Raymond Hood’s competition-winning Chicago Tribune Tower.
Photographs by Alistair Walsh
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Telstra store premises in Melbourne CBD has $9 million price tag

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Mt Barker tops the list of WA's slowest-selling localities, with houses taking an average of 231 days to sell, according to RP Data. It takes more than 200 days to sell houses in five WA localities. Property Observer notes  there were just 13 sales in Mt Barker last year.
 
<table width="341" cellpadding="0" cellspacing="0" border="1"><tbody>
<tr>
<td valign="top" width="114">
Locality
</td>
<td valign="top" width="227">
Average number of days on market
</td>
</tr>
<tr>
<td valign="top" width="114">
Mt Barker
</td>
<td valign="top" width="227">
231
</td>
</tr>
<tr>
<td valign="top" width="114">
Highgate
</td>
<td valign="top" width="227">
228
</td>
</tr>
<tr>
<td valign="top" width="114">
Herne Hill
</td>
<td valign="top" width="227">
225
</td>
</tr>
<tr>
<td valign="top" width="114">
San Remo
</td>
<td valign="top" width="227">
217
</td>
</tr>
<tr>
<td valign="top" width="114">
Augusta
</td>
<td valign="top" width="227">
216
</td>
</tr>
<tr>
<td valign="top" width="114">
York
</td>
<td valign="top" width="227">
194
</td>
</tr>
<tr>
<td valign="top" width="114">
Oakford
</td>
<td valign="top" width="227">
187
</td>
</tr>
<tr>
<td valign="top" width="114">
Broome
</td>
<td valign="top" width="227">
186
</td>
</tr>
<tr>
<td valign="top" width="114">
Burns Beach
</td>
<td valign="top" width="227">
186
</td>
</tr>
<tr>
<td valign="top" width="114">
East Perth
</td>
<td valign="top" width="227">
178
</td>
</tr>
</tbody></table>
 
Source: RP Data
Property Observer readers can secure free tickets for the Perth Home Buyer and Property Investor Show by <a href="https://www.homebuyershow.com.au/special-offers/propertyobserver-ticket-offer/" target="_blank" style="font-size: 14px; text-align: left;">clicking here</a>.
 
 
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Mt Barker properties take longest to sell in WA: RP Data

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The serviced apartments sector is forecast to outperform the hotel sector over the next three years, according to the latest Serviced Apartments Review by Atchison Consultants.
Atchison Consultants is forecasting total returns of between 13% and 15% per annum on an ungeared basis for serviced apartments, while total returns for hotels are expected to range between 10% to 11% per annum.
“Rental growth in line with CPI is expected [for serviced apartments]. Occupancy rates will reflect growth in GDP, which will remain positive,” says the report.
However a seperate report by Jones Lang LaSalle Hotels (JLLH) says "mum and dad" investors are cautious about investing in serviced apartments due to the negative economic outlook and negative yield spread on new projects under construction.
According to JLLH there 3,712 hotel rooms under construction at the end of September last year of which about a third were serviced apartments.
JLLH's managing director of strategic advisory Troy Craig says serviced apartments would have to show a positive yield spread for at least three years to tempt back retail investors.
On the other hand he says the growth in the apartment-style product shows consumer eagerness to "trade location for space, if offered at a similar price point" representing "an important trend for the industry, particurlarly given Australia's ageing hotel stock".
Paul Constantinou, chairman of Quest Serviced Apartments, which has the largest share of a very fragmented market (6%), says investors collectively own more than 5,000 individual Quest apartments.
However, he says these investments have to date been “unstructured and very disparate”, sourced and sold through a channels ranging from real estate agents and financial planners to the developers themselves.
Quest has set up a specialist property investment arm called Quest Properties to help fund expansion of its portfolio and “wrestle back control.
“We are at the tipping point now where in order to grow at the rate required to meet corporate demand for our product we need a dedicated division to facilitate new investment in our business,” he says.
Constantinou says serviced apartments look and feel like residential investments, without the typical frustrations like vacancies, repair and maintenance obligations, body corporate charges and real estate agent and property management fees.
He says the Quest offering promises a fixed 6.5% income return plus capital growth, no management fees and with maintenance managed by Quest.
“It’s a true set-and-forget investment,” he says.
The appeal of serviced apartments has also caught the eye of Harry Triguboff’s Meriton group, which plans to build <a href="https://www.propertyobserver.com.au/developments/harry-triguboff-s-meriton-group-to-build-700-serviced-apartments-next-year-across-australia/2011120752737">700 serviced apartments across Australia in 2012</a> and has recently acquired two sites in Sydney, which will include serviced apartments in the mix.
The sector is also set to benefit from increasing numbers of business travellers to Australia, which according to Atchison Consultants now account for 50% of guests who stay in serviced apartments. 
Departure and arrival data from the ABS shows a 10% increase in the number of business travellers over the past year, with 845,000 coming in 2011 compared with 768,000 in 2010.
This is above the 10 year average annual rate of corporate traveller growth of 4.6%.
<img src="/images/stories/atchison1.gif">
This growth in corporate visitors <a href="https://www.propertyobserver.com.au/leisure/dollar-hurting-tourism-especially-queensland-coastal-hotel-occupancy-rba/2012030653721" target="_blank">was highlighted this month</a> by assistant RBA governor Philip Lowe, who said conditions were “noticeably stronger in the accommodation sectors in some of the large cities, which are benefiting from an increase in business travel and an apparent shift in preferences by overseas tourists for city-based experiences”.
According to BIS Shrapnel chief economist Frank Gelber, capital city hotels (which compete with serviced apartments) will be the best-performing commercial property sector in 2012.
“Why? In a nutshell because business travel has recovered. Both domestic and inbound,’ Gelber said in a column for The Australian.
“Performance of serviced apartments relies on continuing growth in corporate travel,” say Ken Smith and Ken Atchison, authors of the Atchison report. 
“[The serviced apartments sector] has a competitive cost advantage over hotels as its nearest competitor in corporate accommodation, which is beneficial at a time when both business and consumer sentiment is fragile,” they say. 
In line with a positive earnings trend, serviced apartments have attracted a growing share of the accommodation market.
<img src="/images/stories/atchison2.gif">
In addition, demand for serviced apartments as measured by room nights sold was significantly higher than hotels and motels for years between 1999 and 2008, with the exception of 2007. 
The number of room nights sold in serviced apartments as of 2011 was 3.3 million, representing a 72% increase since 2001.
Click to enlarge
<a title="Click to enlarge" rel="shadowbox" href="/images/stories/atchison3.gif"><img src="/images/stories/atchison3thumb.gif"></a>
The sector is highly fragmented, and no one player has a significant market share. 
The biggest players are Quest (6%), Oaks Hotels and Resorts (5.7%), the Mantra Group (5.1%) and Mirvac (3.2%). 
According to Atchison Consultants, since the beginning of 2009 occupancy rates have averaged above 80%, and this high occupancy is expected to continue in the absence of new supply. 
While the sector dates back to the 1970s, the real growth spurt occurred in the build-up to the Sydney Olympics with the number of establishments with 15 rooms or more growing from 479 in 1998 to 973 by March 2011. 
“Investment attributes of serviced apartments include direct property exposure with a relatively affordable price entry point usually on a long-term lease with contracted periodic rental uplift, tax and depreciation benefits and alternative use through conversion to residential,” says the Atchison Consultants review. 
Under most arrangements the business risk is borne by the accommodation business, which leases the apartment from the investor with average lease terms spanning five to 10 years.
 
According to IBISWorld, as of 2011, the industry comprised more than 1,200 operators with more than 1,300 establishments. At the end of the 2011 financial year, the industry employed over 16,000 people, generating approximately $2.3 billion of revenue.  The estimated value of the serviced apartment sector is $8 billion. 
Property investors can participate in the serviced apartments sector by purchasing a strata title and leasing it to an accommodation business. Serviced apartments can also be incorporated as part of a self-managed super fund.
Photograph courtesy of <a target="_blank" href="https://flickr.com/">Flickr</a>.
 
 
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Serviced apartments to outperform hotels in next three years: Atchison

The growing numbers of Chinese and Indian migrants in Australia means property investors need to consider the cultural sensitivity of the residential property they purchase to ensure they maximise the resell value, says demographer Bernard Salt.

Speaking at the WBP Property Outlook breakfast last week, Salt said that during the past decade around 500,000 Indians and 500,000 Chinese migrants have moved to Australia.

Salt says these ethnicities are starting to “shape the Australian residential property market” in the same way that the arrival of Italian immigrants in the 1970s created the Anglo-European culture of eating out on the pavement, emulating the “piazza and the plaza”.

“I live in eastern suburbs in Camberwell. Our local Safeway closed in 1998 for about two weeks for renovations. When I went back there when it opened again, I saw something I had never seen before: an entire bay had been given over to bok choy.

“It is used in Vietnamese cooking. My point is the Vietnamese arrived in Australia in the mid-1980s. In a single decade such had been their impact that they had shifted the palate of mainstream Australia to the point that Woolies now stocks bok choy.

“Over the years Woolies has added pak choy, choy sum … a whole family of choys.

“The point is it was never the plan to sell bok choy to the Vietnamese, it was the business acumen of saying that the Asian influence will shift by osmosis the palate of ethnic Australia,” says Salt.

“How might these Asian influences shape the residential property market?

“The Chinese for instance believe in the principle of feng shui … that you don’t have the front door aligned with the back door, that’s bad energy because the energy goes straight through the house.”

Salt says while he and other property investors might not be swayed by feng shui now, if you want to maximize the resale value of your property in 2018 you must configure your property to reflect the principles of feng shui.

“We could find by osmosis that the Australian property industry could reflect or absorb the cultural preferences and predispositions of these ethnic influences,” he says.

Salt says a salesperson with a housing group in Canberra told him that Indians will always ask if the cooktop is facing east and don’t like their bedhead facing west because it’s the same direction they bury their dead.

These follows the ancient Hindu principles of Vaastu, which says that the&nbsp;kitchen should face south-east, the direction of the God of Fire. (<a href="https://www.truthstar.com/vaastushastra/vaastuforhome.asp">For more on Vaastu click here</a>).

Salt also says the children Chinese and Indian migrants are highly “aspirational” and will be looking to acquire properties in sought-after areas.

The principles of feng shui are also having an impact on the commercial property market, with Savills Australia agents Daniel Kelly and Lynton Williams recently negotiating a lease to a Chinese bathroom supplies importer and distributor for an office and warehouse in Noble Park.

The Savills agents said the tenant was “also interested in the buildings’ capacity to achieve the good fortune attributed to feng shui design criteria”.

Chinese and Indian design principles will shape Australia’s property markets: Bernard Salt

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Stockland has increased its presence in the Townsville retail market after purchasing Centro Townsville shopping centre for $36.5 million. 
<a href="https://www.propertyobserver.com.au/retail/centro-seeks-buyer-for-townsville-centre/2011090651453" target="_blank">The 13,650-square-metre sub-regional Centro centre</a> stands on 4.2 hectares of land and includes Kmart, Coles, Commonwealth Bank and 25 specialty shops. 
The sale of the centre was negotiated by Peter Tyson and Jon Tyson of Savills in a joint campaign with Knight Frank Townsville's John Quinlan.
Tyson says the centre generated solid interest from the market.
"The asset was competitively sought by a number of institutional and private investors," he says.
“Over 100 buyer enquiries were fielded during the marketing campaign, with six competitive bids lodged, including two listed entities and four private investors.
“The primary attractions of the centre included the simplicity and compact nature of the asset, strong security of income underpinned by two blue-chip anchors, a favourable price point (under $50 million) and the obvious strengths of the Townsville economy."
Centro Townsville was valued at $35.5 million in April this year, up 4.5% from a December 2010 valuation of $34 million and last sold for $20.75 million in November 2001. 
CEO for commercial property John Schroder says Townsville is a key growth market and Centro Townsville is a strong strategic and complementary fit with Stockland’s existing centre, which is currently being redeveloped. 
“The purchase represents good value for Stockland with an initial yield of 8.3% and opportunities to create leasing, branding and operational synergies with our existing centre,” Schroder says. 
“When finished later this year the redeveloped Stockland Townsville will boast 46,000 square metres of lettable space including the region’s first Myer department store and many specialty shops new to Townsville. With this acquisition, we will be managing a precinct with 60,000 square metres of retail space, which will allow us to deliver a great community hub for customers,” he says. 
“Retail sales are projected to grow strongly in Townsville over the next decade.” 
The Centro stands directly opposite Stockland Townsville, which is currently being redeveloped into a 46,000-square-metre shopping centre at a cost of $175 million.
It will have an estimated completion value of $385 million and deliver an estimated internal rate of return of 11.5%. 
The diversified property group says the acquisition further strengthens its commitment “to this growing region in Queensland”.
In its interim results released last month, Stockland CEO Matthew Quinn said the property group would continue to sell its commercial and industrial assets and use the proceeds to reinvest in higher-yielding and less volatile retail assets.
Retail assets have generated returns of 10% for Stockland, while industrial assets have generated 8.3% and office assets 7% return.
 
 
 
 
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