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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When entrepreneur Dr Catriona Wallace wanted to grow her tech start-up and saw there were no shared workspaces specifically catering to women, she came up with a whole new business idea. 
That business is The Ventura, Australia’s first co-working space designed specifically for the needs of female entrepreneurs in the early stages of their careers in business.
The first such co-working space is located on Sussex Street in Sydney, with hopes to expand to other spaces across Sydney and Australia. It aims to provide an opportunity for entrepreneurs to enjoy a shared workspace without the heavily male-dominated culture that so many co-working spaces currently feature. 
“I currently own three businesses and one of them, Flamingo, is a tech startup. Last year we reached a stage where we needed our own space, but because rental prices in Sydney are very hard to manage in the early stages of a business I thought I would do what other startups do and investigate co-working spaces,” Wallace toldWomen’s Agenda.
“But when I started investigating our options, I just found them all to be very masculine – the majority of the people working in them were men and the culture felt very male-dominated. So I thought to myself, if I’m not comfortable here, where can the girls go?”
Wallace believes women entrepreneurs face unique challenges in the startup world, and need spaces that specifically cater to such needs. 
“We studied co-working spaces all over the world and found there were so few dedicated to women. So we decided to set up The Ventura based on the principles we think will help women entrepreneurs find success,” Wallace said. 
Those principles include providing a physical space that enables women to feel connected, while also offering access to capital networks and technological advice.
“So many women entrepreneurs are very isolated when beginning their startups, they often work from home, have children, have very little steady income and are transitioning out of a corporate role, so they are not well connected to the entrepreneurial community,” Wallace explained.
“One of the most important things The Ventura will do is provide a physical space for these women to work away from their kitchen bench and be surrounded by other women trying to do the same thing as they are. Also, we are dedicated to having a space for children so that women can bring their children to work and keep them close.”
“Another key factor is access to capital – when women enter the startup world, they often have very few connections to investors, so The Ventura will build relationships between members of the capital community and the women entrepreneurs who use the space.
Wallace added that it's important to provide access to tech specialists, as so many startups involve a technological element but many women entrepreneurs do not have expertise in the tech field. This results in women losing money in early stages due to poor decision making when it comes to technology. 
The Ventura is aimed at women in the early stages of starting their business – those with fewer than 10 employees that have been operational for less than three years. Most importantly, the business must have a female founder, co-founder, CEO or leader. This does not mean, however, that the space will not involve men.
“Even if all the people the CEO or founder employs are men, that’s fine, as long as it is led by a woman. We are clear about the fact that we are not exclusive of men, we are simply catering specifically to the needs of women,” Wallace said.
“We expect about half of the employees using our space will be men.”
Another important part of Wallace’s vision for The Ventura is that it will support women from groups that are largely underrepresented in the startup and business worlds, such as Indigenous women, lesbian and transgender women, women with disabilities, asylum seekers and women from remote areas of Australia. The Ventura will dedicate 20% of its office space to these women.
Wallace also aims to support younger women aiming to become social entrepreneurs.
The Ventura has brought on “guardians of the Ventura” – high profile women such as Anne Summers, Emma Isaacs and Carla McGrath to ensure that the space is doing everything it can to support women who are largely under supported in the startup community.
The Ventura will officially launch next Tuesday, 31 March.
This article first appeared on <a href="https://www.womensagenda.com.au/" target="_blank">Women's Agenda</a>.
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po-LsXgBTHBmX

Introducing the new co-working space for female entrepreneurs

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A Melbourne based developer has paid $3.6 million for a prime residential development site at Bentleigh in Melbourne’s inner south-east.
It was in a private treaty sale brokered by Savills Australia on behalf of two neighbours.
The 24-26 Vickery Street site, located close to the Centre Road retail strip and Bentleigh railway station, sits within the McKinnon High School zone.
The Residental Growth Zone allows for a four level development under recently amended planning laws.
Savills’ Julian Heatherich and Jesse Radisich said the consolidation of neighboring residences sold on the very strong rate of $2,652 a square metre.
"The sale price reinforces the market’s appetite for well located suburban development sites,’’ Heatherich said.
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jchancellor-FAypfDUnLy

Neighbours unite in Bentleigh to offer residential development site

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Global investment levels will remain strong for the next three years with “darker clouds” gathering in 2018, according to CBRE’s head of global capital markets Christopher Ludeman.
Ludeman said that upcoming future economic cycles were unlikely to be as severe as that in 2008.
“We have developed a tendency now to judge everything by the correction during the great financial crisis. But that’s like the 100-year flood. We don’t see many of those and so the market will continue to remain strong globally through 2015, 16 and 17. It is 2018 when the clouds get a little darker,” he said.
Ludeman added that global capital flow will continue to increase as investors and developers look to hedge their assets.
Marc Giuffrida, CBRE’s executive director for international capital markets in Asia, agreed that this is certainly the case in Asia.
“We are seeing the amount of money coming out of Asia accelerating as the cycle here is at the upper echelon. So the developers are looking at how to expand. Last year we did $40bn (£27bn) in outbound Asian investment compared to $8bn-$10bn in 2008,” Giuffrida told journalists at the recent MIPIM conference.
Last year Asian real estate buyers looking abroad tend to favor cities that they know well through reputation or travel, said Giuffrida.
"Asian investors continue to show a strong preference for trophy assets in global gateway cities," he said.
New York and London are top choices for buying existing properties, but now Chinese developers are targeting the U.S. West Coast and east coast of Australia for new construction, he said.
In downtown Los Angeles, Shanghai-based Greenland Group recently broke ground on the first phase of a $1-billion condo, hotel and retail project called Metropolis
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CBRE sees dark clouds ahead for global investment levels, but not until 2018

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For some investors, the question is: "Where do I start?" And that's a reasonable question when buying commercial property is not your mainstream activity.
So, let's quickly dissect the process.
<ol>
<li>Shortlisting your Possibilities This involves both market research, as well as matching up your investment objectives. And to help you <a href="https://itunes.apple.com/au/app/hireturn-filter/id716495090?mt=8" target="_blank" style="font-size: 12.1599998474121px; line-height: 1.3em;">I've put together a free app</a>, which walks you through how to do this in a flash. </li>
<li>The Final Judgement This is where you take the 18 components behind a thorough financial analysis, and distil them down into a single figure — being the internal rate of return. This then enables you to quickly compare your opportunities, on an after-tax basis. </li>
<li>
Ensure you don't Overpay Unlike with residential, commercial property doesn't always value up at what you pay for it. Therefore, you need a mechanism in place to provide you with the correct figure before you commit to purchase. 
</li>
<li>Negotiating the Best Deal Once again, this can prove difficult for most people — particularly, when you're not purchasing property every day. So, here's something that will <a href="https://commercialpropertymadeeasy.com/negotiating-secrets3/" target="_blank" style="font-size: 12.1599998474121px; line-height: 1.3em;">help you become a master negotiator</a>. </li>
<li>
Validating your Purchase You may think you've just bought a really great property. But you should still reserve the right to confirm that — particularly, for properties worth around $1 million or more. 
</li>
<li>
Locking in your Loan Terms Many investors tremble at the thought of applying for finance. That's purely because they haven't discovered one simple trick — how to take control of the valuation. That way, you can turn the tables; and have the lenders competing for your business. 
</li>
<li>
Setting up your Tax Benefits Depreciation is a very handy non-cash deduction, to help in reducing your taxable income. Therefore, knowing how to maximise your claims each year is vital. 
</li>
<li>
Adding Value Once settlement has taken place, you now need to start implementing the plans you devised — when carrying out your earlier analysis for that property. This is where you beginning to generate your super growth.
</li>
</ol>
Bottom line: None of this is overly complicated; in fact, it's really just common sense.
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chrislang-EQKojcgJPV

Eight key steps in acquiring commercial property: Chris Lang

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New research from Onthehouse.com.au has forecast their selection of the top 10 investor suburbs set to deliver during 2015.
There are some surprises with coastal ugly ducklings. Nine were for houses, with Byron Bay the only one selected for possible strong growth in units.
Tweed Heads South was top of the list for houses., while Byron Bay units were expected to deliver a total return of 13% this year.
Nine out of the 10 top investment areas, concluded when considering both projected growth and rental yield, are located along the regional coast of New South Wales and Queensland, while the remaining suburb is located in Western Australia.
The below table lists the top 10 suburbs, in order. 
Click to open in new window:
<a href="/images/2015/03/25/Top_10_Investments_2015_Table1.jpg" target="_blank"><img src="/images/2015/03/25/Top_10_Investments_2015_Table1.jpg" alt=""></a>
Source:<a href="https://www.onthehouse.com.au/" target="_blank"> Onthehouse</a>
The median value in Stratton is more than $160,000 cheaper than the city area of Perth.
Queensland’s Allenstown was the most affordable on the list with a median home value of $267,500.
Surprise NSW South Coast entrants included Sussex Inlet and Mollymook Beach.
The relative affordability of quiet coastal suburbs makes them ideal locations for retirees or young families, Onthehouse.com.au analyst Eliza Owen suggested.
"A perfect example of this is Morisset, which is ideally located on the shore of Lake Macquarie as well as being a short drive from the beach - and during the last Census it was found that 39% of the suburb's population was aged 65 years or over," said Owen.
"Many young health professionals have also found the area to be extremely affordable and a good place to rent and save while they attain work experience in the health sector.
"Due to continued rising levels of unaffordability in major cities, regional areas have become more enticing for businesses, as well as home owners.
"Businesses have found it cheaper to relocate their manufacturing and processing outside of metro city areas, creating jobs in regional areas.
"This is again evidenced around Morisset, but is also a case for the outer Perth suburb of Stratton, which is located just 20 kilometres from the Perth CBD."
{mijopolls 102}
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Onthehouse's top 10 investor town tips are mostly on the comeback coastal trail

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GUEST OBSERVATION
Strengthening first home owner incentives should be towards the top of the political agenda for the Palaszczuk government in 2015 ahead of the year’s first state parliamentary sitting.
This is an important issue out there in the community, with so many Queenslanders wanting to see first home owner grants made available to all buyers.
We believe it was a short-sighted move to restrict first home owner grants to new home purchases, but there’s a real opportunity now to put that right.
We’ve already held some very positive discussions with Treasurer Curtis Pitt on this issue and we’ll continue to make the case for this important economic reform.
Reinstating the full spectrum of first home owner incentives would unlock of millions of dollars in investment, delivering an important boost to the Queensland economy.
It would also greatly assist Queensland’s residential housing recovery and help thousands of extra Queenslanders to realise their dream of home ownership.
There was no sound basis for the preferential treatment which currently exists for purchasers of newly built properties.
There needs to be a level playing field for all first home buyers in Queensland.
When grants for existing housing were abolished in 2012 first home owner rates experienced a marked decline, but this could be reversed with the reinstatement of a more even-handed scheme.
The current two-tiered system favouring one class of home buyer over another has simply resulted in thousands of Queenslanders being locked out of the residential real estate market.
We acknowledge there is a need to create more housing supply, but first home owners shouldn’t be limited in their choice as they are under the current system.
Antonia Mercorella is CEO of the <a href="https://www.reiq.com/" target="_blank">REIQ</a>.
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AntoniaMercorella-nT7yP9uTWn

We need to level the playing field for first home buyers: REIQ's Antonia Mercorella

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The Reserve Bank of Australia governor Glenn Stevens has urged the Federal government to stay the course on meaningful budget repair or it will face consequences as the debt blows out.
"We're not on the correct path for the long run and we need to get onto a better path I think during benign times," RBA governor Glenn Stevens said on Friday.
We don't have a budgetary crisis, he added.
But during questioning Glenn Stevens told an Australia America Chamber of Commerce lunch that the budget repair should happen during "benign times" to build resilience for the next downturn.
"We should be taking early measured steps that build up in their effect over the long term so that we sustain the position we have," he said.
"If God forbid a large negative shock came along right now, we still have macroeconomic scope to respond to that" with the fiscal firepower to respond, he said.
"A deficit that's 3% of GDP right now that would be at 5 or 6 or 7% very quickly if we had a significant recession. If you were then thinking we'd like to do some discretionary stimulus on top of that then you are talking about pretty big deficits," Stevens said.
But scope for discretionary stimulus on top of that could be limited, if the deficit was already high. 
"When you go into a downtown the deficit gets bigger anyway because the government does nothing because of the so-called automatic stabilisers and that's appropriate," he said.
His formal notes advised that looking back at the history: "If we come through this terms of trade event with neither a major outbreak of inflation in the upswing nor a major crash in the downswing, even if we have a period of sub-average growth in the process, we will have done far, far better than in any previous event of this kind, let alone one of this magnitude."
"I still think that is the most likely outcome.
"Even so, the lower terms of trade mean that, all other things equal, the path of future incomes is not as high as it might have looked a few years ago.
"Even allowing for the fact that we all knew, intellectually, that at least part of the boom was not permanent, there is a human tendency to project what we see now (good or bad) into the future. Eventually reality intrudes and we have to re-evaluate.
"That has happened countless times before and will again, no doubt."
Glenn Stevens noted while that the economy continued in its adjustment to the end of the investment phase of the ‘mining boom’. 
"The massive run-up in resources sector capital spending that was a natural response to earlier very high prices is reversing, causing a drag on demand. 
"So we hope for other sources of demand to speed up to help make up the difference. 
"Some of them are, though not as seamlessly as any of us would like. 
"It is a major transition. 
"We can hope to assist it, and the Reserve Bank is doing that, and will continue to lend what support it can, within the limits of its powers and consistent with its mandate.
"The decline in the exchange rate is assisting the transition (as it assisted in absorbing the earlier phase of the mining boom). 
"But we have always said we cannot hope to fine-tune this transition, however much we may wish otherwise."
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There's hope if a large negative shock hits Australia: RBA's Glenn Stevens

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With construction beginning on more than 50,000 dwelling units in the September 2014 quarter, up almost 20% on the previous year, is the construction sector all that's holding Australia back from a recession?
That may certainly be the case, according to comments from BIS Shrapnel economists at its Melbourne business forecasting conference earlier this week. And the Reserve Bank (RBA) board may just agree.
In its March meeting minutes, the RBA board noted further softening in the mining sector, with "steep declines" in mining investment contributing to below-trend gross domestic product (GDP) growth in the December quarter.
"The ABS survey of capital expenditure intentions implied further large falls in mining investment, as current projects were completed and few new projects were likely to proceed," the minutes read.
Meanwhile, income growth stayed low by historical measures and "the unemployment rate had continued its gradual upward trend".
Aside from low oil prices, the RBA board didn't see much that would continue to support consumer demand – except for residential investment.
"The current strength of housing construction and the increase in housing prices were expected to provide a measure of support for consumption," read March's minutes.
"A range of indicators, including residential building approvals, suggested further strong growth of dwelling investment in the near term."
The Reserve Bank's comments crediting construction investment with supporting the domestic economy are supported by the Australian Bureau of Statistics' (ABS) December quarter GDP figures. The ABS noted that: "In seasonally adjusted terms, the main contributors to GDP growth were Construction and Health care and social assistance each contributing 0.1 percentage points to the increase in GDP."
According to the ABS, $50.35 billion worth of construction work was done (on a seasonally adjusted basis) in the final quarter of 2014. While the figure is slightly down from its previous peak in the final quarter of 2012 (<a href="https://petewargent.blogspot.com.au/2015/02/construction-holds-up-well-thanks-to" target="_blank">as noted by Pete Wargent</a>), on a historical basis, the pace of Australia's construction industry in the past few years has been unprecedented.
<img src="/images/2015/03/23/bis-mar-23-one.jpg" alt="">
The value of total construction work done in the December 2014 quarter was also down on the figure recorded in the same period in 2013, by 4.8%. However, the decline can be attributed to engineering work and commercial construction, down 12.3% and 4.8% respectively over the year.
In fact, BIS Shrapnel managing director Robert Mellor noted on Tuesday that the state with the strongest relative commercial property construction sector currently was Tasmania, thanks to the Royal Hobart Hospital redevelopment.
Nationally, the value of residential work was up 12.7% from the December 2013 quarter.
<img src="/images/2015/03/23/bis-mar-23-two.jpg" alt="">
The Reserve Bank has also acknowledged the weak commercial property construction figures, noting in the March minutes that:
"Overall, survey measures of business conditions had remained around their average levels, while the trend in non-residential building approvals was at a low level and conditions in the commercial property market remained weak, with office vacancy rates in all capital cities at high levels."
But while residential investment has been able to buoy a flagging commercial property market, can it continue to uphold the entire economy as the mining sector slows further?
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jrichardson-uRX5hFdKfN

Has the apartment construction boom saved Australia from recession?

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The ABS released its <a href="https://www.abs.gov.au/AUSSTATS/abs@.nsf/allprimarymainfeatures/3685CE437B16298ACA257AFC000E9FB3?opendocument" target="_blank">Detailed Labour Force</a> figures for February 2015 and for the quarter, and the news was somewhat mixed.
This data series is not seasonally adjusted, and total jobs growth over the past 12 months was surprisingly strong, with the total number of employed persons surging to 11,762,700. Employment growth was driven overwhelmingly job gains in Melbourne, Sydney, Perth and Brisbane.
It will be interesting to see whether this strength is ultimately mirrored in the seasonally adjusted Labour Force data in due course. Let's take a look in four short parts.
 Part 1 - Mining and manufacturing jobs go
While it can hardly be a surprise, the fall in the number of employees in the mining sector has been dramatic, tailing all the way from 270,000 to just 220,400, with nearly 50,000 positions cut in just 12 months.
Manufacturing industries have also shed -23,500 jobs over the past year.
It has long been my contention that the end of the mining investment boom will represent adverse news for many of Australia's regional property markets, a number of which had performed surprisingly well through a once-off decade long resources investment boom.
The decline in manufacturing employment is also in my opinion likely to represent a significant headwind for the city of Adelaide, though for the purposes of balance I do note that a number of other commentators strongly disagree with me on this point.
 Part 2 - Services employment increases
On the positive side of the employment ledger there now is some evidence of rebalancing over the past 12 months, with construction and services jobs helping to more than offset the jobs losses in mining and manufacturing.
As I noted <a href="https://petewargent.blogspot.com.au/2015/03/sydney-construction-boom" target="_blank">in by blog post last week</a>, despite the inevitable contraction in the resources sector, total construction employment is still pumping with a net +45,800 jobs added over the past 12 months.
Meanwhile professional, scientific and technical services employment surged by +98,800 from 889,000 to 997,800.
Other non-trivial gains were seen in accommodation and food services (+43,500), arts and recreation (+31,300) and media and telecoms (+24,500).
Generally speaking this is good news for the four largest capital cities, and not such happy news for regional Australia or Adelaide.
Part 3 - Employment by region
Over the past year the greatest absolute employment growth has been seen in Melbourne (+94,800) and Sydney (+49,600).
<img src="https://2.bp.blogspot.com/-2x2GN1SDvR4/VQstUPtkehI/AAAAAAAAT2U/1I5VHfnHuFQ/s1600/dlf3.jpg"> <a href="https://2.bp.blogspot.com/-2x2GN1SDvR4/VQstUPtkehI/AAAAAAAAT2U/1I5VHfnHuFQ/s1600/dlf3.jpg"></a>
By contrast, regional employment growth has been weak leading to a divergence in unemployment rates in New South Wales in particular - a dearth of employment growth on a net basis over the past two years has seen regional unemployment in NSW rising to above 8%.
This has partly been driven by mining jobs losses in the coal sector, and on a smoothed moving average basis, the unemployment trend becomes clear.
<img src="https://3.bp.blogspot.com/-VRGNTMkVQ_k/VQstS3JQr7I/AAAAAAAAT10/g1Y5NxzVWvQ/s1600/DLF6.jpg"> <a href="https://3.bp.blogspot.com/-VRGNTMkVQ_k/VQstS3JQr7I/AAAAAAAAT10/g1Y5NxzVWvQ/s1600/DLF6.jpg"></a>
In other states, both Perth (+35,700) and Brisbane (+33,200) have recorded robust employment growth over the year to February 2015, with residential property construction having a key role to play.
However, regional employment growth has been weak in Queensland and Western Australia too.
Meanwhile over the past two years total employment in Adelaide has declined (-11,900), with further job losses expected due to Holden's departure.
<img src="https://3.bp.blogspot.com/-j5Fbcz5JmlA/VQstTP_yWKI/AAAAAAAAT14/_IwGI2MHbT8/s1600/DLF4.jpg"> 
Looking at these results across a range of time horizons shows how the bulk of employment growth has consistently been seen in the four largest capital cities plus regional Queensland.
<img src="https://1.bp.blogspot.com/-H0qMSobbRjc/VQstUFb7chI/AAAAAAAAT2M/TqSSOhV5yzo/s1600/dlf5.jpg">
 Part 4 - Unemployment The month to month unemployment figures are very volatile, but for completeness here they are.
<img src="https://4.bp.blogspot.com/-h4KjNZbSYBw/VQstSpeAdvI/AAAAAAAAT1w/tiQH1F2qcbo/s1600/DLF2.jpg">
In order to make some kind of sense of the capital city unemployment rates (which are not seasonally adjusted) I've run them below on a smoothed moving average basis.
One key takeaway point here for mine is that the unemployment rate in Perth has been trending upwards fairly sharply since 2013, continuing a trend away from near full employment in the period leading up to 2008.
There has been some talk of weakening employment markets in Darwin, though in truth there has not been much evidence of this in the data to date.
On the other hand, the outlook in Tasmania is improving with the unemployment rate beginning to decline and a number of other positive data releases being recorded here on this blog over the past 12 months, including for <a href="https://petewargent.blogspot.com.au/2015/03/retail-trade-lifts-in-january" target="_blank">retail trade</a> and <a href="https://petewargent.blogspot.com.au/2015/03/economy-grows-by-25-percent-in-2014" target="_blank">state final demand</a>.
<img src="https://4.bp.blogspot.com/-BY7T7X-PgAY/VQstTtPwl8I/AAAAAAAAT2A/hpM-pOCOLeY/s1600/dlf1.jpg">
In fact, while I don't recommend on this blog that anyone dashes out to invest in property in Hobart (or for that matter, anywhere), the Tasmanian capital could well be the surprise package property market of the next few years.
Firstly, this is because so many years of inertia have seen the <a href="https://petewargent.blogspot.com.au/2015/03/vacancy-rates-tighten-in-february" target="_blank">rental market tightening considerably</a>.
And while population growth and employment growth have certainly been very weak in Tasmania over recent years, the "X factor" could be Chinese investment capital, with record numbers of Chinese visitors enjoying the fresh produce and fresh air of the Apple Isle.
I haven't been down to Tassie since spending a month there while the dollar was busily crippling the forestry industry, but I've heard from more than one source this week that Chinese tourism is dribving a rebound.
I even received a Tweet to that effect:
<img src="https://4.bp.blogspot.com/-ZhgL4zMboQM/VQtGIsykihI/AAAAAAAAT2o/NzT7qlnfH-I/s1600/TAS.jpg">
Moreover, Tasmania has a small enough population that new investment could impact markets more materially at the margin.
Regional unemployment
I'll cover the regional unemployment rates data in a separate blog post, but the areas of concern include:
<ul>
<li>Central Coast</li>
<li>Hunter Valley ex-Newcastle (now 12.4% unemployment in February 2015 as coal mining job losses bit)</li>
<li>Newcastle and Lake Macquarie</li>
<li>Richmond Tweed</li>
<li>Logan-Beaudesert</li>
<li>Moreton Bay North</li>
<li>Mackay</li>
<li>Wide Bay</li>
</ul>
 
PETE WARGENT is the co-founder of <a href="https://allenwargent.com/" target="_blank" rel="nofollow">AllenWargent</a> property buyers (London, Sydney) and a best-selling author and <a href="https://petewargent.blogspot.com/" target="_blank" rel="nofollow">blogger</a>.
 
His book '<a href="https://www.bigskypublishing.com.au/Books/General-Interest/Four-Green-Houses--and-a-Red-Hotel/1015/productview.aspx" target="_blank" rel="nofollow">Four Green Houses and a Red Hotel</a>' is out now.
 
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pwargent-M4siyDbqQY

Employment rebalances to capital cities and services: Pete Wargent

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Hong Kong's Far East Consortium will develop the first Ritz-Carlton hotel in Melbourne.
It will be atop the 79 level high-rise tower to be built at 250 Spencer Street, the former site of The Age.
The hotel will have 250 rooms on the highest 15 floors. 
Yesterday’s announcement follows the news that Ritz-Carlton had partnered with FEC to develop a new hotel at Elizabeth Quay in Perth.
Australia's first Ritz-Carlton was established when property veteran Sid Londish, the chairman of Comrealty, developed the Ritz-Carlton on Macquarie Street in the late 1980s for a Japanese millionaire singer, Masao Sen.
That was around 140 years after Cesar Ritz, a shepherd's son, was born in Switzerland.
Described as "the hotelier of kings and the king of hoteliers" by King Edward VII, Ritz opened his first hotel in Paris in June 1898 with finance from Marnier La Postolle, an old friend and the originator of the liqueur Grand Marnier, and culinary wizardry from Auguste Escoffier.
His idea was not to create a "grand hotel" but a new and original one - a home that would equal the comforts, security and service that discriminating patrons would provide for themselves.
Both Ritz and Escoffier had an interest in the Carlton Hotel in London and they combined their efforts to establish a Ritz-Carlton management company.
In 1910, the Ritz-Carlton opened in New York City.
Sydney's Ritz-Carlton was the 15th member of The Ritz-Carlton group and the first in the Pacific Basin.
Double Bay was the brief the location of the second Australian Ritz-Carlton.
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