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]

Joel Robinson

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>

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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."

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[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 

When buying an apartment, most people compare the big-ticket items first. Floorplans. Kitchens. Balcony size. Natural light. The view.

But there's one everyday consideration that often doesn't come up until after moving in: how parcels are delivered.

As online shopping has become part of everyday life, parcel deliveries have shifted from an occasional event to a regular occurrence. Australians spent a record $82.6 billion shopping online in 2025, with almost one in every four retail dollars now spent digitally.

For apartment residents, that can present a challenge.

If nobody is home to accept a delivery, parcels may be redirected to a nearby Post Office, left in a building lobby or common area, or require building management to step in. In higher-density buildings, where dozens or even hundreds of residents may receive deliveries each day, parcel management has become an increasingly important part of everyday living.

That can create a range of frustrations. A missed delivery often means making time to collect a parcel elsewhere, while packages left unattended in foyers or mail areas can create clutter and increase the risk of theft. What seems like a minor inconvenience can quickly become a recurring issue for residents who shop online regularly.

It's one of those details that rarely features in a display suite but can have a noticeable impact once residents move in.

As a result, buyers are beginning to look beyond traditional apartment features and consider how a building supports day-to-day convenience, including whether there are secure options for receiving deliveries.

Australia Post's Parcel Lockers provide one solution.

<iframe allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" allowfullscreen="" frameborder="0" height="315" referrerpolicy="strict-origin-when-cross-origin" src="https://www.youtube.com/embed/CkF2oKmlACg?si=C50sDaoUUn2nuLmq" title="YouTube video player" width="560"></iframe>

Rather than having a parcel delivered directly to an apartment, eligible deliveries can be sent to a nominated Parcel Locker. Once the parcel arrives, residents receive a notification through the AusPost app or SMS and can collect it using a QR code or one-time PIN at a time that suits them.

The Parcel Locker network now includes more than 1,500 locations nationwide, with installations at Post Offices, shopping centres, transport hubs and an increasing number of residential developments. By providing a secure collection point, Parcel Lockers help reduce missed deliveries and avoid parcels being left unattended in common areas.

For developers, parcel infrastructure is becoming another way to improve the resident experience. Rather than relying on concierge staff or leaving parcels in communal spaces, secure collection points help streamline deliveries while preserving the presentation and functionality of shared areas.

For buyers, it's a reminder that the best apartment features aren't always the most obvious.

A generous floorplan or quality finishes might help narrow the shortlist, but the conveniences that simplify everyday life, whether that's EV charging, secure bike storage or reliable parcel delivery, often become the features residents appreciate most once they're living there.

The apartment feature many buyers don't think about, until their first missed delivery

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>

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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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Credit Corp Group, an Australian listed company, has committed to a new lease of circa 3,000 square metres at 201 Kent Street, Sydney.
Savills Australia national leasing director Rob Dickins says the deal highlights the Barangaroo effect which has firmly taken hold as corporate users are seeing this now as a firmly established precinct.
"If not moving into Barangaroo they are setting their sights on premium buildings within very close proximity."
201 Kent Street, which forms part of the Maritime Trade Towers Complex, is a 40,000 square metre A-Grade building strategically located within the western CBD fringe bordering the new Barangaroo precinct.
According to Savills National Leasing Director Rob Dickins who brokered the deal, Credit Corp Group have taken the whole of levels 15 &amp; 24 of 201 Kent Street. 
Credit Corp Group’s current HQ are over four floors at 10 Barrack Street and this new move will amalgamate the Group over two whole floors with a brand new fit out.
The 3000 square metre lease was signed for an initial period of five years with a further five year option. Although the rent has not been disclosed rents in 201 Kent Street have been in the order of $675 per square metre net.  
Mr Dickins said that demand for office space at 201 Kent Street had been significant. 
“As at November of last year there was circa 7,000 square metres of vacant space at 201 Kent Street and within less than six months we have leased all available space.”
In three separate leasing deals in May, Savills leased approximately 2,300 square metres of space at 201 Kent Street, tenants included an education provider, a childcare facilities group and a property consulting group.
“The Barangaroo effect has firmly taken hold as corporate users are seeing this as a firmly established precinct and, if not moving into Barangaroo, are setting their sights on premium buildings within very close proximity,” added Mr Dickins.
201 Kent Street, which forms part of the Maritime Trade Towers Complex, is a 40,000sqm A-Grade building jointly owned by Investa Property Group.  It is strategically located within the CBD and the new Barangaroo precinct.
Rob Dickins advised Credit Corp Group have taken the whole of levels 15 &amp; 24 of 201 Kent Street. 
"Credit Corp Group’s current HQ are over four floors at 10 Barrack Street and this new move will amalgamate the Group over two whole floors with a brand new fit out.
The 3000 square metre lease was signed for an initial period of five years with a further five year option.
Although the rent has not been disclosed rents in 201 Kent Street have been in the order of $675 per square metre net.  
Mr Dickins said that demand for office space at 201 Kent Street had been significant. 
“As at November of last year there was circa 7,000 square metres of vacant space at 201 Kent Street and within less than six months we have leased all available space.”
In three separate leasing deals in May, Savills leased approximately 2,300 square metres of space at 201 Kent Street, tenants included an education provider, a childcare facilities group and a property consulting group.
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jchancellor-FAypfDUnLy

Barangaroo effect in Sydney office lease deals

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Bistro Maison has been sold by local chef Bernard McCarthy and his operations manager wife, Rachel.
The husband-and-wife restaurant couple have sold their business in Mt Eliza on Victoria’s Mornington Peninsula.
Colliers International’s Will Connolly secured the leasehold sale of Bistro Maison as the McCarthys look towards a new establishment on the peninsula.
It sold within a month of listing, with the leasehold purchased by local couple, Hans and Annette Went, who plan to transform the space into a traditional Italian restaurant.
The McCarthys had the bistro in the Mt Eliza Village for the past five years.
They are now focusing on their new venture in Balnarring, Barn &amp; Co, which will be a cellar door winery and friendly bistro. 
Will Connolly said there hospitality venues were changing hands quite rapidly on the Mornington Peninsula, with venues such as the Rye Diner and McCrae Pavilion also being sold recently,” he said.
“It’s no secret that people on the Mornington Peninsula are passionate about their food, and this is clearly demonstrated in the high standard of service and quality venues in this region are currently providing.”
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Bistro Maison, Mt Eliza sells through Colliers

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Everglory Energy, a subsidiary of Everglory China, has agreed terms on a three year lease at One Margaret Street, Sydney.
It was the last remaining suite available on level 17, according to Savills leasing agent Chris Rowe who brokered the deal.
The office space was let on a three year term at an average gross yearly rental of around $136,000.
DEXUS, the owners of One Margaret Street, had implemented a new suites strategy on level 17 of the building, creating seven small fitted suites, designed to suit occupiers from 150 to 210 square metres.
One Margaret Street is an 18 level A-Grade office tower located in the Western corridor of the Sydney CBD.  
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DEXUS secures Everglory Energy as One Margaret Street tenants

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The Bayside family has bought the Woollahra pub, The Light Brigade Hotel, for about $9 million.
It comes two months after they sold the Newport Arms to Justin Hemmes.
"When we sold the Newport Arms, we did so knowing that it would not only serve as a chapter in our family's history in the hotel industry closing, but equally, would serve as a precursor to the next chapter; a new chapter," hotelier Kaine Bayfield told the Australian Financial Review.
Ray White Hotels' Andrew Jolliffe and Joel Fisher brokered the deal on behalf of Haritos Hotels ending an eight-year association with the hotel.
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Light Brigade Hotel, Woollahra sold

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It would be fair to say I’ve lost count of the number of times people ask me about the secrets for a successful negotiation.
Once you know how to negotiate… this will provide you with your ultimate passport to success.
You see, the success of every negotiation is based upon these elements. However, you also need to master various strategies, tactics and nuances… in order to truly become a master negotiator.
But the good news is… all of these are teachable skills — which you’re able to quickly and easily learn, with little or no effort.
Naturally, over a career of 40+ years… you tend to see and use virtually every negotiating technique there is. And one by one, I have tested them and noted down those that work.
Agendas
Everyone going into a negotiation will have an agenda. But the mistake most people make is in assuming that your agenda is the same as theirs.
You know, in all my years as a negotiator… I’ve never seen two identical agendas. Sure, there may be a few common items — but they never appear in the same order of importance, on both agendas.
As such, the No. 1 item on their agenda may well be No. 7 on yours. And the secret lies in uncovering just how to determine that… which is one of the other 25 techniques.
Because, once you know what’s on their Agenda … you are then in a far stronger position to trade your “lesser” items, on the way to achieving your ultimate objective.
In fact, the biggest mistake you can ever make is to allow your negotiation to reach the point where price becomes the only item under discussion. From there on, one party has to lose… in order for the other to win.
As you will soon realise, there are only four outcomes for every negotiation …
 
<img src="/images/2015/06/24/Neg-Chart.png" alt="">
 
Therefore, your aim ought be to take control of the negotiation and steer it towards a win-win result. That way, it ensures the deal will ‘stick’ … while the documentation is being prepared.
CHRIS LANG is an advisor to commercial property investors, sell-out author and regular speaker on how to invest in commercial property. You can contact Chris <a href="https://commercialpropertymadeeasy.com/" target="_blank">here</a>.
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chrislang-EQKojcgJPV

The secret lies in discovering a hidden agenda: Chris Lang

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GUEST OBSERVER
The NSW government handed down its first <a href="https://www.budget.nsw.gov.au/" target="_blank">budget</a> after the March state election, promising new infrastructure, jobs, housing developments and four more years of back-to-back budget surpluses.
The budget papers <a href="/news">said</a> the NSW government would deliver “an underlying $713 million surplus in 2015-16 and strong surpluses in each of the following three years.”
The budget sets aside $591 million for new schools, hospitals upgrades and light rail projects in Sydney, and $400 million to accelerate land release and housing development.
The transport infrastructure goodies are welcome, and targeted to support commercial and residential development in growth areas like the harbour side Barangaroo precinct and the North West.
Yet, with the booming housing market alone delivering in excess of $5 billion to the state’s revenue in 2014-15, big project spending is easy. Enacting reform that reduces the state’s reliance on property taxes is hard.
<h2>Missed opportunity for reform</h2>
Gladys Berejiklian’s first budget as NSW Treasurer misses an opportunity to make bold and much needed economic reform in a touchy area: stamp duty.
Killing off stamp duty would be a bold but ultimately good reform.
South Australian Premier Jay Weatherill has shown stamp duty reform is possible. The SA government has moved to abolish stamp duty on commercial property transactions by 2018. It will also immediately stop charging stamp duty on the non-property part of business transfers.
Scrapping stamp duty has subsequently been supported by the Property Council of Australia. But with federal grant money falling and stamp duty receipts growing as a proportion of budget revenue, the NSW government’s addiction to it will continue.
<h2>Bad news for prospective homeowners</h2>
The planned budget surpluses through to 2019 rely on the hot housing market persisting, with revenue from stamp duty forecast to continue to grow through to 2019. So, unfortunately for current and prospective homeowners in NSW, the budget’s increasing reliance on stamp duty revenue means the government has no interest in reform that will cut off this source of funds through lower property prices.
While there are budget measures that target increasing the total supply of property in NSW and particularly growth centres in and around Sydney, there will be little change to the “effective” supply of property without a reconsideration of property taxes.
Effective supply is the part of the market that is actually available for purchase. All else equal, restricting effective supply drives higher prices.
As a tax charged on every real estate transaction, stamp duty acts as a drag on the real estate market that lowers the effective supply. Notwithstanding the current bubble-like atmosphere, stamp duty discourages housing turnover, reducing the efficiency of the way property assets are distributed, as well as the broader economy by limiting labour force mobility.
Someone selling a house in Sydney at the median price would currently have to pay over $35,000 in stamp duty; enough to dissuade many homeowners looking to move from selling altogether - including those wishing to downsize - and penalising those who need to move, such as for work or because of divorce.
The government has offered an <a href="/news">increased commitment</a> to the Housing Acceleration Fund towards the provision of infrastructure and planning to facilitate housing development in target areas and plans for 664,000 new dwellings in greater metropolitan Sydney over next 15 years, but these measures alone will have little impact on prices.
Rethinking stamp duty
A key risk to the state’s forward budget now is the possibility that property prices and turnover go down. It’s hard to remember, but house prices can and do fall.
It would have been refreshing to see the NSW government demonstrate leadership by taking an innovative approach to property taxes that achieves a good outcome for those left behind in the current boom while the opportunity is available.
Rather than abolish stamp duty altogether, the government could consider a “stratified” reform that applies the duty differently depending on an individual’s existing housing investment. Remove it when the homeowner is selling one property to move to another. Apply it when the seller has multiple properties. Scale it to match the size of the property portfolio. Add a premium when the property is vacant. There are many possible permutations – determine the right balance and the revenue source is still there while the efficiency and accessibility of the market for those looking to enter it improves.
As an example, a tiered stamp duty system operates in Singapore. The Singaporean system charges an <a href="https://www.iras.gov.sg/IRASHome/Other-Taxes/Stamp-Duty-for-Property/Working-out-your-Stamp-Duty/Buying-or-Acquiring-Property/What-is-the-Duty-that-I-Need-to-Pay-as-a-Buyer-or-Transferee-of-Residential-Property/Additional-Buyer-s-Stamp-Duty--ABSD-/" target="_blank">Additional Buyers Stamp Duty</a> based on the residency status and number of properties owned by the buyer.
State and federal leaders are meeting at a July retreat hosted by Prime Minister Tony Abbott. Perhaps there, NSW Premier Mike Baird will learn from his South Australian counterpart that reforming stamp duty is not the end of the world.
Danika Wright is a finance lecturer at the University of Sydney. She can be contacted <a href="https://sydney.edu.au/business/staff/danikaw" target="_blank">here</a>.
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po-LsXgBTHBmX

New infrastructure but a missed chance to fix stamp duty

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National house prices rose 1.6 per cent in the three months to March, the latest Australian Bureau of Statistics figures show.
<div class="cq-article-content-paras section">
Sydney was streets ahead with home values up 3.1 per cent, the latest official figures show.
Canberra had the next strongest quarter-on-quarter growth, with values rising 1.1 per cent in the March quarter.
Prices rose 0.7 per cent in Adelaide, 0.6 per cent in Melbourne, 0.5 per cent in Hobart and 0.4 per cent in Brisbane.
They fell 0.1 per cent in Perth and 0.2 per cent in Darwin. 
Across the eight capital cities values rose 6.9 per cent, with Sydney jumping 13.1 per cent. 
APM senior economist Dr Andrew Wilson noted recent ABS data also reported increased activity by investors as a key driver of Sydney’s red-hot housing market. 
"Despite the distractions of Easter and ANZAC Day, $6.2bn in residential investor finance was approved over April in NSW – the third highest monthly total on record and just behind the record $6.3bn set over March. 
"The proportion of investor finance to total residential has however set a new record at 61.8 percent.
 
<div>"First home buyer lending activity in NSW however fell sharply over April for a market share of just 6.5 percent, the second lowest on record and well below the long-term average of 13.6 percent," Dr Wilson noted.</div>
 
</div>
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ABS confirms Sydney streets ahead of other capital cities in March quarter house price growth

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Last week we addressed some of the key issues facing younger homebuyers. This week, as promised, we’ve got some practical solutions.
Home buying and these suggested solutions are not for all young people (sub 45). But sitting on your backside, doing another tertiary course, or hoping a magical answer will come from your iPhone is also not the way for every young homebuyer either.
Yes, Australian society is presiding over a system that is unfair on you as young homebuyers.
Australian Society is taking away young people’s housing supply and increasing competitive demand through negative gearing, wealthy immigration and through paying no attention to regional infrastructure. Young people need to push forward a new batch of leaders with ‘we’ ideas instead of ‘me’ ideas and demand change. You need to get out on the streets and protest until you find leaders who can even up the ledger between older and younger Australians but the revolution may take 20 years and you as a young homebuyer can’t afford to wait forever to enter the property market.
Waiting for the market to ease never works.
No easing of the market will assist you to any noticeable degree. If you wait for any future government intervention to save you, your now 6-year-old child may be 26 before you can afford to buy. Your 16-year-old may be a 36-year-old.
You have to take action yourself. Wait for the market to change and you’ll pay the price. Please don’t confuse this statement with passing on buying the wrong home and then continuing to look for the right one in a patient, logical manner.
So our suggestion is don’t focus on the unfairness of negative gearing, super funds, Asian investing, well-off Baby Boomers and private family wealth. Focus on the fact that, this weekend, there are 300 people out there trying to buy the 30 good homes in inner to middle Melbourne on offer.
Yep 270 of those people are going to be unhappy – you need to be one of the winning 30 buyers this weekend or next weekend or later in the year.
So in Inner Melbourne right now; you as a young homebuyer are in a fight, like the wildebeest of Serengeti in a drought. There is limited grass and you need to avoid the predators (dodgy buying and selling agents, dodgy financial planners, dodgy brokers and dodgy advice which may come from well-intentioned people like your friends and relatives). Other predators are negative gearers, super funders and wealthy overseas migrants – not to mention your fellow young homebuyers.
Ok, all this negative and hard stuff is there, but don’t let it overwhelm you. Acknowledge it and move on. Many wildebeest see bad things, but the strong and the smart live on.
<a href="https://marketnews.com.au/2015/06/solutions-for-young-homebuyers/number-of-melbourne-homes-597x437/" rel="attachment wp-att-51096"><img class="aligncenter size-large wp-image-51096" src="https://marketnews.com.au/wp-content/uploads/number-of-melbourne-homes-597x437-597x437.jpg" alt="number-of-melbourne-homes-597x437" width="597" height="437"></a>
Our Bidderman statistics (bidders per auction) show that on good homes there are consistently 6 to 10 bidders per well-priced suburb median Inner Melbourne home above a million dollars. It’s the same or even more below $1M.
Not every young homebuyer can be a winner – there are simply not enough good quality Inner Melbourne homes to satisfy demand. This is the mindset I think, or I hope Joe Hockey was trying to espouse. It’s up to you.
So get the right mindset – it’s up to you or you’ll be living in Whoop Whoop West. And when you try and sell in Whoop Whoop West in 10 years, to be closer to schools, the prices in Inner Melbourne could be even more unattainable.
Get the right plan and then go after the right position, right home and right price. 
Get a deposit and get multiple funding sources – banks, relatives, tenants, partner and so on.
I’m not a great saver, more a forced one and I care little about superannuation – which may or may not be a wise move now I’m hitting the twilight years!
I’ve think I’ve worked hard (bought over 1000 homes), had good jobs, lived in secure housing near the city, travelled, raised some great kids, had good family support and a good life (lot more to come I hope). I’ve lived off good income, at times overdrafts, parental help in the early days and growth allowed by negative gearing in the latter days. Our family has been lucky, but we’ve also made our own luck. The one money thought that stands out for me: good capital growth and a good job has given us a good good life and covered over a lot of my life mistakes and money sins.
Saving is good for many and recommended, but my point is there is more than one way to skin a cat (isn’t that an awful saying) and to fund a home. Such as:
*Parents (1) – They are your best chance for help with a deposit and loan guarantees. But you may have to sell them on the idea of helping you as they’ll want to protect themselves as they get older as well. Tell them if they don’t want to drive a hour to see the grandkids then you will need help buying closer (ok, not next door but maybe only 15 minutes away) – pull on the heart strings and then pull on their purse strings.
*Parents (2) – Start hassling them to buy investment homes. They can make their retirement better by buying and renting back to you. These investments build wealth and income and you help each other. It’s the Greek/Italian, Chinese and Jewish way and it works. If you are worried about family arguments, get a written legal agreement, such as a formal lease.
<ul>
<li>* for both of the above, you can’t expect (well you can, but why should they) your parents to do it all. You have to help yourself; to save, maybe get a second job and yes, you may have to move further out (just not too far and good 3P’s), to buy your first home and live in it for 5 to 10 years.</li>
</ul>
Get a good job. Joe Hockey is right–please, I don’t barrack for any political party–unless Pendles or Clokey are running for PM. If you want to be a Buddhist, vegetarian, charity-giving monk then hats off to you; but in all likelihood you won’t be living with three kids in a Hawthorn semi-detached period home. Please I know this sounds harsh–but there is validity to Joe Hockey’s comment – get a job that pays. Sales, Real Estate, Marketing, Small Business...or get a second job, or do this plus ask your parents for help and maybe negatively gear. Do what it takes, and do it sooner rather than later, if buying a good home is an important goal of yours.
 Get creative. Buy the home you can’t afford to live in now by buying and negatively gearing now. Put a tenant in and live at home with Mum and Dad. Or buy a home and live in somebody else’s home while they rent your property. Make sure agreements meet tax laws, but negative gearing on a good capital growth home is such a powerful tool. You need it to beat overseas bidding and if you can get some growth in the next ten years before you can afford to move in, you will have put hundreds of thousands of dollars into your back pocket. And it’s legal and mostly tax free (if you’re smart about it). Yes, of course there are risks, but sometimes to get into the housing market you need to take some risks, even if there is no real safety net.
Get a plan and a process that works.
Price, property and position. These are the three ‘Ps’ you need to keep in mind when planning to buy a property.
Median Price for Precinct, Home with Land, House with a liveable floor plan and all in a position that is near infrastructure.
The knowing is not rocket science – the rocket science, in 2015, comes in the getting.
Have clarity on what you want. Is a particular property really the home for you?
List the financial and emotional outcomes you want from your home under the price, property and position headings. At the end your PPP plan, as a starting point, shouldn’t be more complicated than three sentences. It’s simple but many people don’t work out what they want before buying – they don’t have a plan.
However, avoid plans from financial planners, bankers and seminars – if they involve high risk deals such as off the plans and new apartments – these do not work for young homebuyers.
Remember the FFFs too – five-year, flexible and future-proof. In 2000, a young buyer bought a Docklands apartment for $507,500. They sold it in 2014 for $576,000. At the same time another young buyer spent $493,000 on a family home in Glen Iris. They sold it in 2014 for $1.5 million. <a href="https://www.james.net.au/jba_mhbguide_20_web.pdf"> </a>
Once you have your plan, assess, value and negotiate – eg follow a proven process.
But, just as they don’t plan, many people don’t stick to a process either. And many people can’t negotiate.
Get a professional
My next piece of advice is the advice I would give you if you were having an operation, going to court or starting a business and that is to get a professional. The facts prove themselves. A good professional property advisor will help you.<a href="https://marketnews.com.au/documents/May_Results.xlsx.pdf"> </a>
People think you simply buy a house by sticking your hand up at auction. But only 25%-30% of the properties we bought in May were bought under the hammer. 70-75% weren’t. They were negotiations.
People baulk at paying a 1% fee for an advocate’s services, but while you wait and wait to buy a home, the market goes up. In the past few months some house prices have gone up 10-20% and many buyers are:
<ol>
<li>still not in a home </li>
<li>having to find 10% to 20% more</li>
</ol>
This is all because they felt they couldn’t afford good professional help – when indeed it would have paid for itself 10 or 20 times over in the last few months and perhaps 100 times over a 7 year period. Include it in your bank loan.
Buyer advocates are widely – and wisely – used in Europe and the US.  But most Australians think they can buy a home by themselves because that’s what Mum and Dad did. That was a different time and a different market. It might have worked in 1985 but, for many, it doesn’t work in 2015. You either don’t buy, or you end up buying a home nobody else wants at a price that nobody else was prepared to pay for it.
This week I met Hard Luck Harry and his wife, Hard Luck Harriet. They’ve bid 5 times on homes in the last two years and felt nothing was going right. I made one suggestion – when nothing is going right – go left. Try something different. Hire an experienced, reputable buyer advocate / buying agent.
Yes, we mainly buy properties in the $2m to $6m bracket, but most of the issues are similar for young homebuyers. Most of our clients have affordability issues. Almost everybody we work with has a limited budget, too.
Make good decisions and take action.
Good decisions. It’s all about the decisions you make. Isn’t all of life like that? If you decide not to make a plan, not to get some professional help, not to work hard and not to do your research they are your decisions – and they are bad decisions if you want to buy a good home.
This is what a James Report contains. You need to build your own excel databases to be able to do something like this.
<ol>
<li>Ask questions of your plan</li>
<li>Assess the property (due diligence)</li>
<li>Work through values, not just what the agent says</li>
<li>Get a negotiation strategy that works</li>
</ol>
<a href="https://marketnews.com.au/documents/James_Report_2015.pdf"> </a>
<a href="https://marketnews.com.au/documents/James_Report_2015.pdf" rel="attachment wp-att-51099"><img class="aligncenter size-large wp-image-51099" src="https://marketnews.com.au/wp-content/uploads/JamesReportResults-379x448-379x448.jpg" alt="JamesReportResults-379x448" width="379" height="448"></a>
Finally, I’ll leave you with home-buying wisdom from the Melbourne Homebuyers Guide:
1. Happy spouse, happy house.
2. History repeats itself unless you break the cycle by breaking your habits.
3. Good decisions and bad decisions take the same amount of time and angst – only the quality of the prep is different. Get those 3P’s (price, property type and most importantly position) spot on.
4. Time heals or hides nothing in Melbourne property, it only accentuates.
5. No definition of value maintains its rigour for all people, except value to you; and
6. In negotiation, the closer you get and the more you talk about money, the further you drift from getting what you want.
 and my new No 7. Get the right mindset – its up to you.
Mal writes weekly auction reports, advice and in-depth market analysis on <a href="https://www.jamesbuyeradvocates.com.au/" target="_blank">James' website</a>.
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High risk new apartments should be avoided by young homebuyers: Mal James

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Commentary on the affordability issue has become so twisted that media is quoting Sydney’s median house price as a relevant topic.
We recently had the Australian Financial Review, which should know better, writing about the level of income needed by a first-home buyer to afford the median Sydney dwelling, as well as the median-priced dwelling in the other capital cities.
My question is: how is this in any way relevant to the issue of affordability?
First-home buyers don’t buy at the median price, not in Sydney, nor in Melbourne, nor anywhere else in Australia. First-home buyers buy below the median, indeed well below it. Always have done – and, I dare say, always will.
The median price for dwellings in the major cities at the moment are $750,000 in Sydney, $570,000 in Melbourne, $465,000 in Brisbane and $510,000 in Perth. According to CoreLogic RP Data, the median across the eight state and territory capital cities is $570,000.
But the average first-home-buyer loan at present is $334,800, according to the latest figures from the Australian Bureau of Statistics. Assuming the typical first-timer has a 10% deposit, this means the median dwelling price for a first-home buyer is around $370,000.
Given that 25% of all residential sales are being made to first-time buyers, there’s are a lot of novice buyers out there acquiring properties at the lower end of the market. In the past year, around 120,000 Australians have made a first-time purchase.
Those numbers are relevant to the discussion. The median price in our most expensive city is not.
The Real Estate Institute of Western Australia published some numbers this week that also have some relevance to the topic. Good to see those people putting out material that’s actually useful to a sensible debate, unlike some of their recent talk-down-the-market nonsense.
REIWA president David Airey said, quite rightly, that it was important not to use the median price as the guide for the costs of getting into the market for first-home buyers and others.
Airey said the median was the middle point in the market and that half of all sales were under it. This means buyers don’t need to be able to afford the median-priced dwelling to enter the market.
I think it’s sad that anyone needs to make this point, which is so obvious it should be a given in the debate. But the media coverage of the issue has become so irrational that industry people have to go back to kindergarten levels to try inject some balance.
“It’s also important to recognise that first-home buyers, in particular, usually purchase homes well under the median price, with Office of State Revenue data for May showing the median point for entry-level buyers being $450,000 in Perth and $366,000 in the WA regions,” Airey said.
“Even the median purchase price for first-home buyers means that half of all entry-level buyers are paying under these city and country median prices for their demographic.”
Airey said it was more useful for first-home buyers to look at the lower quartile, or bottom 25%, of the more affordable homes in an area to get a better perspective of what was available at more accessible prices.
REIWA data for the year to March shows that the south-east sub-region of Perth through Gosnells, Armadale and Serpentine-Jarrahdale had the most affordable lower quartile, with  houses selling around $370,000. 
Apartments and land were most affordable in the south-west sub-region through Cockburn, Kwinana and Rockingham.
Airey said even within the various sub-regions around Perth there were individual suburbs which were under the lower quartile for their local area.
“For example, the central sub-region has a lower quartile of $550,000, but it’s possible to find houses in Balga priced at around $385,000.
“Similarly, while the median price for units in the south-west sub-region is $277,000, you can find them in Orelia at around $196,000.”
Airey said that buyers should not be put off by the median price for a region or suburb, and look to the lower quartile for opportunities in areas they might initially think are out of their price range based on the overall median.
So true, so bleeding obvious and so sad that anyone needs to stand up and say it. 
 
TERRY RYDER is the founder of <a href="https://www.hotspotting.com.au/" target="_blank">hotspotting.com.au</a>. You can <a href="https://mailto:ryder@hotspotting.com.au" target="_blank">email him</a> or follow him on <a href="https://twitter.com/hotspotting" target="_blank">Twitter.</a> 
Terry was recently joined by Property Observer editor at large Jonathan Chancellor for a webinar on why research is the key to successful property investing in 2015. You can download slides and audio from the webinar here.
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Just stand up and say it: Terry Ryder

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<div class="cq-article-content-paras section">
South Australia is moving to abolish stamp duty on commercial property sales over the next the three years.
Treasurer Tom Koutsantonis said he was deliberately seeking to stimulate the business sector in the state with the highest unemployment in the nation. 
The scrapping of stamp duty on the 6,000 commercial and industrial property transfers that happen annually in South Australia will cost the government about $389 million over the three years from July 1, 2016. 
The first stage is a one-third cut in stamp duty in mid-2016. 
The Weatherill government has thrown down an unexpected tax reform challenge to other states as it phases out stamp duty on commercial property transactions.
It does not apply to farms.
By 2018-19, the state will have stripped a $48,830 duty from a $1 million South Australian commercial deal.
It will save $543,830 after a $10 million acquisition or a $2,589,915 million cost on a $10 million transaction.
</div>
<div class="cq-article-content-media section">But stamp duty expert, Joanne Seve, told the Australian Financial Review other mainland states were unlikely to follow as the cost of abolishing stamp duty on non-residential, non-primary production commercial property transfers would be at a much greater cost and likely require a replacement source of revenue.</div>
<div class="cq-article-content-paras section">
 
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