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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Back in my distant and naive past, I regarded Time Magazine as a quality publication. It had the aura of authority and integrity in the presentation of global news. Until one day it published an article on a subject I knew well. I was appalled at the inaccuracies and the sensationalism.
It was the worst kind of tabloid journalism in a publication with pretensions to quality. I could never again see the magazine in the same light, because I began to wonder about the authenticity of its information on other subjects.
I’ve just had a similar experience with GetUp. I’ve admired the achievements of the GetUp movement as an expression of people power and I’ve supported many of its campaigns, particularly those related to environment. My support of some of these campaigns was based on the assumption that the arguments they presented were anchored in facts.
That all changed this week when GetUp launched a campaign against negative gearing. I received the GetUp email letter asking for my support and could scarcely believe what I was reading. It was a dishonest and emotive rant littered with falsehoods and unsubstantiated claims.
Sadly, it was based on the kind of misinformation that is rife in real estate media. The people who wrote it are either unethical or incompetent - probably a mix of both.
Everything the organisers of this movement tell me on any subject henceforth will be tainted by the suspicion the information has been distorted or fabricated.
Because that is certainly the case with the “information” presented on negative gearing.
The people who wrote the GetUp statement smelled the blood of Joe Hockey following his alleged gaffe about housing affordability. I say “alleged” because there is nothing in Hockey’s statements (that the key to affording a home is a good job that pays well and enhances your chances of getting a loan) that justifies the media hysteria that followed. Further proof that a rational debate on any subject is beyond the scope of Australian media.
The GetUp statement began with the claim that there are “millions of frustrated first home buyers priced out of a skyrocketing housing market”.
This is plain wrong and easy to disprove. Australia has 8.6 million households, of which 6 million are home-owners and much of the rest (according to the research) are renters by choice. The research shows that 25% of all current residential sales are to first-time buyers, which means around 120,000 households bought their first property in the past 12 months. The two affordability indexes published quarterly indicate affordability overall is strong and, if you remove Sydney from the equation, the best it’s been in 12 years.
It’s impossible on those numbers to substantiate the claim that there are “millions of frustrated first-home buyers” across Australia.
The claim about “a skyrocketing housing market” is patently absurd, given that only one of the eight capital cities has a boom market. Of 16 major markets (eight cities, each with a house market and a unit market), based on the latest annual price data, six are going backwards (prices decreasing), seven have price growth below 3.5% and only one has double-digit growth. One big growth market out of 16 does not, by any definition, constitute a skyrocketing property market.
This suggests the campaign is based on two false premises: that we have a skyrocketing market and that there are millions trying to buy who can’t.
And the GetUp argument goes downhill from there.
It takes a further leap of imagination in claiming that negative gearing is “one of the root causes” of the alleged affordability problem. This, like all the sweeping statements in the GetUp letter, is not supported by any factual evidence.
An 18-month federal parliamentary inquiry was unable to produce any evidence that negative gearing had any bearing on the cost of housing for first-home buyers. The final report said they suspected it might, but couldn’t provide any definitive evidence that it did. After 18 months of inquiry, which included four time extensions.
Then there’s this statement: “Negative gearing forces everyday Aussie home buyers to compete with investors armed with generous tax breaks looking to buy their second or third property. It reduces home ownership and locks many out of the housing market, increasing the gap between the haves and have-nots.”
The claim that investors are commonly buying second or third investment properties is contradicted by ATO data showing that three-quarters of investors own only one property. The statement also assumes that all property investors are negatively-geared, whereas the ATO evidence shows that 640,000 Australians own investment property but don’t claim negative-gearing deductions. I’m one of them.
It further claims: “A massive $4.2B in negative gearing tax breaks per year go to the top 10% of income earners.” That is another lie. There are many different figures bandied about in terms of how much is claimed in negative gearing benefits - the Green have quoted two different figures this week, $2.9 billion and $4.2 billion, but to suggest it all goes to the biggest income earners is, once again, clearly false. The ATO data shows that most Australians who own an investment property earn less than $100,000.
The GetUp statement also lies when it claims: “There's consensus among housing experts and economists that negative gearing is one policy area driving unaffordable housing in Australia.” No such consensus exists, nor anything remotely like it. In my reading of media, those who see a link between negative gearing and housing affordability are very much in the minority, albeit a very noisy one populated by people from the lunatic fringe, like dodgy forecaster Saul Eslake.
Beyond the inaccuracies and sweeping political statements, the GetUp campaign is based on the notion that eliminating negative gearing will somehow make housing cheaper. The process by which that would occur is not explained - possibly because it makes no sense.
There is also the furphy that increasing housing supply will somehow, again miraculously, bring down the cost of housing. There’s evidence that a massive oversupply will cause prices to fall but how we convince large numbers of developers and builders to be willing to lose money to create such a scenario is not explained. There’s no evidence that an orderly increase in supply, which is what we’ve had in Australia for three years now, will lower prices.
There’s also this statement: “The thing about bubbles is that they eventually burst. If we don't take some heat out of the property market now, we could see a crash that would devastate homeowners and investors alike – with dire implications for the Australian economy.” 
Well, actually, no. Media has been writing about alleged bubbles in our property markets – constantly - for the past 15 years but there has been no property crash - which suggests those bubble claims were false. What we have seen throughout history is that boom markets eventually stop growing and prices level out. But we have never seen a crash, not in the history of this nation.
Finally we have this statement: “It’s high time we saw Government leadership to make housing more affordable for all Australians.” But eliminating negative gearing simply won’t achieve it. The tax benefits of a small number of people are not the problem, if indeed there is one.
GetUp has been an interesting experiment in ordinary people using modern media resources to lobby for worthy causes. But they’ve crossed the line with this dishonest and misguided anti-investor campaign and I wonder how many people, like me, will withdraw their support.
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 is presenting a free webinar with Property Observer editor at large Jonathan Chancellor on Tuesday June 16 at 12.30pm titled on why research is the key to successful property investing in 2015. Sign up here.
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terryryder-YECXbqmri2

Present arguments anchored in facts: Terry Ryder

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A week after Treasury boss John Fraser said the Sydney housing market was unequivocally in a housing bubble, the Reserve Bank boss Glenn Stevens suggested some house prices were “crazy”.
“Yes, I am very concerned about Sydney. I think some of what’s happening is crazy,” he told a business lunch in Brisbane yesterday.
"But we have a national focus to manage as well, that just increases the complexity," he advised.
He said the steep rises in property prices in Australia’s biggest city were “acutely concerning” and that the issue was a social problem.
"Do you want me to comment on the housing market?" he jested before embarking on his startling insight.
The Reserve Bank governor Glenn Stevens left open the possibility of a further interest rate cut but warned against expecting monetary policy to do too much of the work in boosting economic growth.
The craziest price Property Observer has spotted was at <a href="/news/spot-the-460-000-two-year-price-difference-in-maroubra-sale">33 Parer Street, Maroubra</a> which fetched $1.46 million at April auction through N G Farah agent Cameron Airlie.
The two bedroom semi on 310 square metres had previously sold at $1 million in March 2013, so unchanged barring a coat of paint over the two year gap.
<div id="tt-wrapper1edaf36" class="tt-wrapper inread ">We asked readers: Could you spot the $460,000 difference? 
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jchancellor-FAypfDUnLy

Crazy, complex and concerning, RBA Glenn Stevens' frank views on house prices

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The initial report card for the Australian and NSW governments’ $3.6 billion, 10 year Western Sydney Infrastructure Plan has been released.
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It advises significant progress had occurred in delivering the Western Sydney Infrastructure Plan in the past three months. 
Roads and Maritime have commenced construction on 7.7km of the 57km of Western Sydney Infrastructure Plan roads between January and March 2015 on the Werrington Arterial Road and Bringelly Road upgrade Stage 1 sites.
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About 75 intersections will be built or upgraded for the Western Sydney Infrastructure Plan projects in the next 10 years. 14 of these intersections are now under construction. 
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Ten kilometres of the 63km of shared pedestrian and cyclist paths were being built between January and March 2015.
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Of the $3.6 billion Western Sydney Infrastructure Plan the Australian Government will fund $2.9 billion by the end of this quarter.
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<a href="https://www.rms.nsw.gov.au/documents/projects/sydney-west/infrastructure-plan/wsip-report-card-2015-jan-mar.pdf" target="_blank">The report</a> said the Australian and NSW governments were delivering road projects to "support an integrated transport solution for the western Sydney region which will capitalise on the economic gains of building an airport for western Sydney."
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Western Sydney is expected to undergo unprecedented growth with about one million additional people living in the region by 2031.
The plan upgrades major corridors including Bringelly Road (construction underway) and The Northern Road, and upgrades existing roads between the M4 Motorway and the Great Western Highway to form the Werrington Arterial Road (construction underway). 
It will also deliver a new $1.2 billion M12 Motorway providing direct airport access.
 
<img src="/images/2015/06/10/700_Chart.jpg" alt="">
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Western Sydney infrastructure report card

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Prime Sydney harbourside retail space becomes available in July with the former site of restauranteur 'Peter Doyle's at the Quay' offered up for lease by tender. 
Situated within the Overseas Passenger Terminal, Circular Quay at Tenancy 5, under the existing Quay restaurant, the lease includes 1,000 sqm of internal space and 400 sqm of external dining.
Manager of Colliers Retail Leasing, Matt Hudson, said demand is expected to be strong.
"We’ve already spoken to several well-known restaurateurs and other retailers who have shown interest in this location,” Mr Hudson said.
Expressions of Interest close noon, July 10.
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mick.cee-iDmgDDAmu8

Prime Sydney Harbour restaurant site up for lease

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The Reserve Bank of Australia governor Glenn Stevens has given a speech calling for extra infrastructure spending by governments.
The speech noted the economy has followed a different track from the one expected a couple of years ago.
"That is partly because conditions in the world economy were different from what had been expected and partly because several domestic factors were different," he said.
"As things stand, the economy could do with some more demand growth over the next couple of years.
"As often remarked, infrastructure spending has a role to play in sustaining growth and also in generating confidence.
"I am doubtful of our capacity to deploy this sort of spending as a short-term countercyclical device.
"The evidence of history is that it takes too long to start and then too long to stop.
"But it would be confidence-enhancing if there was an agreed story about a long-term pipeline of infrastructure projects, surrounded by appropriate governance on project selection, risk-sharing between public and private sectors at varying stages of production and ownership, and appropriate pricing for use of the finished product.
"The suppliers would feel it was worth their while to improve their offering if projects were not just one-offs.
"The financial sector would be attracted to the opportunities for financing and asset ownership.
"The real economy would benefit from the steady pipeline of construction work – as opposed to a boom and bust. It would also benefit from confidence about improved efficiency of logistics over time resulting from the better infrastructure.
"Amenity would be improved for millions of ordinary citizens in their daily lives.
"We could unleash large potential benefits that at present are not available because of congestion in our transportation networks.
He said the impediments to this outcome were not financial.
"The funding would be available, with long term interest rates the lowest we have ever seen or are likely to.
"And it is perfectly sensible for some public debt to be used to fund infrastructure that will earn a return.
"That is not the same as borrowing to pay pensions or public servants.
"The impediments are in our decision-making processes and, it seems, in our inability to find political agreement on how to proceed.
"Physical infrastructure is, of course, only part of what we need.
"The confidence-enhancing narrative needs to extend to skills, education, technology, the ability and freedom to respond to incentives, the ability to adapt and the willingness to take on risk.
"It is in these areas too, where there are various initiatives in place or planned, but which often do not get enough attention, that we need to create a positive dynamic of confidence, innovation and investment."
While he left open the door to further official interest rate cuts, Glenn Stevens said policy makers expected too much from monetary policy, warning that it could lead to "much bigger problems".
He told an audience of economists in Brisbane today that economic growth was likely for the year to June to be "a bit below" than what the central bank's forecast two years ago for growth of between 2.5% and 4%.
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RBA Governor says government needs to address transportation congestion

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GUEST OBSERVER
Leasing commercial office space can be a tricky business. You need to find office space that will suit the needs of your business and match the projected vision for your business growth, at the right price.
Leasing an office or commercial space is likely to be one of the most costly overheads for your business, so it’s crucial to secure the right property, and know what you’re doing in the process. This is, after all, a business transaction, so take your time and get to know some of the ‘lease speak’. Here are our 7 top tips for tenants when negotiating a commercial lease.
Tip 1
Never agree to an upwards only market review – this is known as a ‘ratchet review’ and it moves in one direction only - upwards.
Tip 2
Always ensure that you have flexibility in your market reviews. You can achieve this through a ‘Cap and Collar’ review whereby the rent can go up by a fixed amount, as much as it can go down by a fixed amount.
Tip 3
Never agree to a ‘make good clause’ in your lease until you know all of the details. A ‘make good cause’ refers to a tenant’s obligations at the end of a lease such as removing their fit-out and reinstating back to “Base Building.”
Always request a ‘make good scope’ from the landlord and ensure that your independent tenant rep has reviewed the scope so that you know the extent of your liabilities before you sign your lease.
Tip 4
Don’t sign your lease until you have had it independently reviewed by an independent tenant rep which may result in greater savings.
Tip 5
Always ensure that your tenant rep is independent, not a property company who could have business relationships with landlords. 
Tip 6
Don’t run out of time in your lease negotiations – some landlords play slowly on purpose to corner you. Start early and leave enough time so that you can walk away from the deal and leverage off other options.
Here are some timeframes
●     200Sqm to 500Sqm (9 Months before lease expiry)
●     1,000Sqm to 2,000Sqm (18 months before lease expiry)
●     Over 3,000Sqm (18 to 24 months before lease expiry)
Tip 7
Understand the real estate and financial needs of your landlord. A landlord will want to keep their Face Rent at market to maintain or increase the value of the property.
It makes sense to negotiate harder on incentives, annual increments, fit out etc, and a rent abatement to reduce the overall annual rent despite the market Face Rent – this keeps both parties happy.
 
Mark McGrath is Principal of Tenant Representation Services. He can be contacted <a href="https://tenantrep.com.au" target="_blank">here</a>.
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Seven leasing tips for potential tenants

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The listed developer Payce Consolidated, and its Japanese partner Sekisui House, have sold their Wentworth Point site on Sydney's Parramatta River for around $100 million. 
Payce advised on Friday that a put and call option had been executed with a non-refundable call option fee.
It is suggested the buyer is Piety Investments, the boutique developer and asset manager.
The site has concept plan approval for 678 units. 
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The Piety deal was brokered by James Bellew of Colliers International, according to the Australian Financial Review.
Piety managing director Bilal El-Cheikh owns and manages WK Quantum Quartz, the wholesale and distribution company in Australia specialising in marble and granite products. 
Piety, backed by a Malaysian-based partner, has a $210 million development at Lane Cove, due for completion in December, will comprise 270 apartments.
There is also a $200 million mixed-use project at Hurstville, known as Imperial.
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Payce and Sekisui sell Wentworth Point site to Piety Invesments

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A Melbourne private investor has paid $4.85 million for a modern distribution centre at Cheltenham in Melbourne’s south-east.
The former Grays Online premises, located at 19 Hewitt Street, was sold with vacant possession in a deal brokered by Savills Australia.
It comprised a 3785 square metre quality office and high clearance warehouse on a large 12,300 square metre site with significant concrete and bitumen hardstand areas. 
Savills’ Senior Industrial Executive, Chris Telley said the quality of the building, the extensive hardstand, the location, and the potential to add value were key considerations. 
There was currently only 30% site coverage.
The Moorabbin/Cheltenham industrial precinct is viewed as one of the most tightly held precincts in the south-east due to easy access to both the CBD, Melbourne’s bayside suburbs, freeway network and a skilled workforce. 
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Former Grays Online premises sold at $4.85 million at Cheltenham

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China’s largest developer Greenland Group has bought a Parramatta development site.
It was the second property with development potential bought from Sam Arnaout’s hospitality and development group Iris Capital.
Greenland is buying the Crown Hotel, which has the potential to be developed into apartments.
Combined with the Crest Hotel, Kings Cross acquisition the purchase cost an unconfirmed $170 million.
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Greenland buys Crown Hotel, Parramatta site from Iris Capital

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Australand has secured CEVA Logistics at its West Park Industrial Estate, recently commencing construction of a new 90,000 sqm campus-style warehouse and office facility for the world leading supply chain company. 
The Ceva Logistics deal – one of the largest in Australia in years – takes the total industrial space transacted by Australand in Melbourne over the last six months to around 200,000 sqm, equating to approximately $200 million in value.
The new facility will be the centrepiece of CEVA’s growth plans in Australia and New Zealand once completed in mid 2016. It will have an end value of over $80 million and CEVA has committed to an initial 10 year lease over the site.
Anthony Maugeri, Australand General Manager – Southern Region, said the CEVA deal caps a period of intense industrial activity in Australand’s Melbourne estates.
“We have secured a number of significant deals with some of Australia’s largest industrial occupiers in Melbourne recently, at a time when there’s a relative shortage of good quality industrial space readily available,” Mr Maugeri said.
“It is encouraging to see demand remain resilient given the current economic environment and the shortage of quality industrial facilities available at short notice, particularly in west Melbourne, has supported strong activity in our estates.
“The strategic location of West Park, our capacity to deliver and our longstanding strong relationship with CEVA were the core ingredients in converting this project.”
As the largest CEVA facility in Australia, the new office and warehouse will enable CEVA customers to benefit from excellent access to Melbourne’s road and rail network, the Port of Melbourne and Melbourne International Airport.
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CEVA’s commitment represents the culmination of an active few months for Australand and the West Park estate, where Australand has just converted a 14,330 sqm speculative facility for long term customer Schenker in a deal valued at $14.3 million. 
“We will continue to employ our speculative strategy where it makes sense to do so, as we have the unique benefit of an industrial land bank focused in Melbourne’s key industrial sub-markets,” Mr Maugeri said. 
“However we have noticed the pre-lease market beginning to unlock again, which is positive news. There are signs that leasing activity is picking up and occupiers are willing and able to forecast their accommodation needs out a bit further. 
“Evidence of this is securing major pre-leases to Miele, Austrans and MaxiPARTS in recent times.” 
The 15,000 sqm Miele pre-lease at The Key was secured in a deal valued at $17 million, based on the facility’s estimated end value. At West Park, the Austrans pre- lease was for 14,570 sqm ($14.6 million) and the MaxiPARTS facility covers 12,505 sqm ($12 million). 
Other recent deals include the Ive Group Australia’s commitment to a 6,789 sqm facility developed speculatively at The Key. 
Australand has also recently completed the development of its Access Altona estate in Melbourne, having executed deals with Godfreys for 12,333 sqm and Cosmic for 9,077 sqm. The facilities for Godfreys and Cosmic, valued at $12.4 million and $8.5 million respectively, were further examples of Australand’s speculative development strategy paying dividends. 
Sean McMahon, Australand's Executive General Manager - Commercial &amp; Industrial, said the Melbourne industrial market remains the most affordable market in Australia, 20-30% cheaper than the other capital cities. 
“The relative affordability of quality industrial space in Melbourne continues to attract a broad array of international logistics and domestic industrial occupiers alike,” Mr McMahon said. 
“Incentives do remain elevated, as is the case with most markets, however they should stabilise over time as economic and demand conditions gradually improve. 
“We have a strong market position in Melbourne particularly focused in the west and south east, and we are well positioned with our land banks to convert new demand as it emerges. We are currently servicing a further 40 hectares in these key markets to ensure we provide speed to market for new transactions. 
“We are very focused on our market leadership position in the sustainability space and we have committed to a 6 star Green Star rating for the new campus-style facility for CEVA."  
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