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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I just love my job and sometimes it feels like the universe is aligning with me.
This seemed to happen the other day when I was delivered an awesome development site right into the palms of my hands.
Not only did no one else know about this land but I'd been focussed on securing a site in this very location for some time. It's a great suburb on the east side of Maitland, one of the large cities of the Hunter that we develop in. This city has experienced the highest population growth of any inland city of New South Wales and is earmarked for more growth with a new major hospital and $350 million upgrade to the local shopping centre in the pipeline to name just two of the infrastructure upgrades happening in this location.
Today, I thought I'd share how we 'attract' a development site.  For those not too sure about the Law of Attraction, I have to admit that whilst it's nice to be all 'spiritual' around this, it is actually the result of years of hard work setting up contacts and developing almost 100 properties over the past 12 years.  But I'm happy to credit the universe too.
So here's what happened: The phone rings, it's one of my builders, let's call him 'Bob'.
"Jo, I've just heard about a good dual occupancy site coming up" Bob tells me. My ears prick, "Fabulous, tell me more please" and Bob my wonderful builder went on to share the location and address. He'd recently constructed a duplex in the same street and so he knew it well. He'd had a chat with the owner and they mentioned they were thinking of selling and explained which agent they were going to list with. 
This land is over 1,000 square metres and will nicely fit two freestanding, three bedroom, two bathroom homes with double garages. We will subdivide by way of Torrens tile.  There will be good yard space and being able to build freestanding dwellings with Torrens title and double garaging will add more to the end values.
As we talk, I jot down the agent's name and ask more details about the project he recently completed. "What were the build costs?" I asked Bob. Once I knew these, I added in a margin for the additional costs to build freestanding and upgrades that we generally add to our developments.
Before I had said goodbye and hung up the phone, I had a good idea of what this dual occupancy project would cost and the amount of equity we were likely to create. I'd been tracking sales in this location and knew of two very recent comparable sales that would support the estimated end values.
I rang the agent and he gave me more details on the land and promised to email me the contract so I could check the sewer diagram, survey, 88B Instrument, planning certificate and make more enquiries.
I pulled the land up on one of my online platforms that shows me high resolution imaging of the land - much better than Google Earth and more recent satellite images. What's more I can add labels such as lot and deposited plan (DP) numbers to the images and include the lot boundaries so I can get an idea of the shape and estimate boundaries (which helps when there is no survey of the land available).  These tools we happily share with our clients so they can also learn and take advantage of what we've set up.
After viewing the land from outer space and my computer, I will now go and physically inspect it. I'll get an idea of the fall on the land and drainage pits and services available. I can measure the boundaries and get an idea of where I will position the dwellings on the lot. I'll drive around and see the type of housing already built in the area and the community facilities and public transport available and in close proximity. All this will help me determine the rental returns and again confirm estimated end values. I'll check the recently sold properties that we will base our estimates on.
All this information will be delivered to our client who has already signed up with us. Our job is to present every development site we locate and our client has a choice of projects. These are presented in a detailed report and analysis on the development project. If they like what they see, and after getting clearance from their accountant and lender, we will move to make an offer on the land before it even hits the open market next week. 
I can't wait to walk all over this site and take a million photos and while I'm there I'll let the universe - and my builder - know just how much we appreciate them.
<a href="https://www.propertybloom.com.au" target="_blank">www.propertybloom.com.au</a>
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jochivers-wq5Bp59R5a

How to attract a great development site: Jo Chivers

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An AFL footballer syndicate has listed the Waterside Hotel on Flinders Street with $15 million hopes.
The syndicate includes former Richmond players Wayne Campbell, Stuart Wigney and Brendon Gale (who is also the club's current CEO).
Wigney was its general manager after its 2004 purchase.
The freehold at 508 Flinders Street, on the corner with King Street, will be sold with a two to three year leaseback to the pub's operators.
There is no confirming paperwork with 508 Flinders Pty Ltd, but Nathan Brown and St Kilda captain Nick Riewoldt are reportedly other members of the syndicate that owns the three-storey brick pub with two bars.
They purchased the 1850s hotel for $3.85 million in 2004.
It has been listed by CBRE, Fairfax Media advised.
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jchancellor-FAypfDUnLy

Waterside Hotel listed by AFL players syndicate

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GUEST OBSERVATION
Conventional real estate wisdom says you should always sell your home first then buy. The wisdom follows that you need to know exactly what price you will achieve for your home to be able to set your budget for the next home.
This has been our advice in the past to ensure that clients don’t get caught out having two mortgages or require bridging finance during the changeover period in selling houses.
However, in the current Sydney property market, convention does not apply. The market is exceptionally strong and finding a suitable buyer at a solid price is almost assured. 
Sydney’s auction clearance rate on the weekend was 83% from 677 auctions, according to CoreLogic RP Data, and the clearance rate has been running at above 80% since the market re-ignited in February.   
There are frequent reports of properties going well over the reserve price at auctions in Sydney and we have witnessed many sales going above a reasonable price as two or more bidders battle it out.  With continuing low interest rates and Sydney’s chronic undersupply situation, there is nothing to suggest that the market will slow down anytime soon.
Buying a property first is a strategy that only works in a hot market.  It will give you certainty about your next address and will also help motivate you to get out there and find something suitable. As for selling your existing place, you can have confidence that there are plenty of other frustrated buyers out there looking for a home.  
The latest figures show that it takes just 29 days to sell a house in Sydney and 26 days for apartments. Compare this with Melbourne at 43 days for houses and 61 days for apartments (or Darwin with 106 days for houses and 117 days for apartments).
Which leads us to the next question: What happens if you just stay out of the market for now and wait till the buying frenzy subsides? 
Many buyers are no doubt questioning what will happen to prices in the future and wistfully hoping prices will drop at some point.  Over the past 25 years, research by Residex has shown that Sydney’s median house price has increased from $175,000 to $911,500 which represents an average rate of growth of almost 7% per annum.
Sydney tends to have very strong spurts of growth followed by slow growth or flat line pricing.  Even massive external shocks like the global financial crisis only put a small dent in Sydney’s long term upward trajectory – prices retracted just 5% then recovered significantly in subsequent years.
The frustration of Sydney home buyers is widespread.  A quality home in the inner and middle rings of Sydney may attract 50 to 100 groups inspecting and 10 to 15 registered bidders on auction day.  Yet just one of them will walk away smiling, while the others feel despondent wondering if they will ever find a property. 
The hassle of organising your solicitor to review the contract, getting pest and building inspections completed in time and arranging finance all goes to waste each time you miss out.  Then, you may well come up against other frustrated buyers on the next property.
Buyers are getting “buyer fatigue” having to inspect so many properties that end up out of reach. It’s tough out there!  Here’s my perspective on the range of emotions that buyers are feeling at the moment: it can be a roller coaster ride.
We are also seeing some buyers having to re-think their original plan.  If you have been out of the market for over a year, you may be very surprised to see just how much prices have moved.  Buyers and sellers are having to re-calibrate their expectations on pricing.  If you had your heart set on a specific suburb close to the kids’ schools and walk to shops, you may have to compromise now as the market has jumped (or find those extra dollars).
Our team of buyers agents have recently helped a number of clients find their next home and navigate this hot Sydney property market.  The common thread in their feedback was that they would not have been able to find the number of properties we shortlisted, work out fair value and then exchange with speed without our help.
The message is clear; Don’t be afraid to enter the market, do your research and be cautious about what you buy and how much you pay.  Many people are forward paying capital growth now just to get a foothold.  Think about the long term value of the property and who will buy it after you.
Rich Harvey is founder and managing director of <a href="https://www.propertybuyer.com.au/" target="_blank">www.propertybuyer.com.au</a>.
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In this Sydney market you need to rethink your strategy: Rich Harvey

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Property industry pay increased at an annual 3% median - slightly above the ABS figure of 2.7% annual increase for the general workforce, and the annual CPI rise of 1.7%, according to the latest report by Rita Avdiev, managing director of the Avdiev Group.
The latest Avdiev Remuneration Report 2015, the product of a formal Australia wide survey of property, investment and construction employer companies, finds that business conditions have remained stable or improved for the majority of survey respondents.
But for companies which operate Australia wide, conditions vary from state to state, with the east coast reported to be doing better than elsewhere.
“Business conditions in the property industry will continue to fluctuate and possibly deteriorate the longer the country remains on hold” said Avdiev.
"While the new state governments continue to review the committed decisions of their predecessors, new projects are languishing on drawing boards and in boardrooms.
“The results of two recent state elections have introduced a note of caution and uncertainty into the previous positive sentiment in the majority of property and construction companies.
"A return of the current NSW government at the upcoming election may see a rapid influx of investment and new projects into the state.
“Many contributors to the Avdiev Report are affected by the hesitation of their clients to proceed with decisions which they made in 2014.”
She said forecasts for next pay reviews are 3% overall, but may be tempered by fluctuating business conditions.
Junior staff who are in a rapid career development phase are flexing their muscle, getting bigger rises than the seniors from companies pushing for new skills and staff renewal. 
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State government elections unsettling property companies: Rita Avdiev 

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Co-working spaces are growing rapidly and are feeding the demand for flexible and collaborative working environments, according to a report examining “liberated” work in Australia.
The white paper, which was released by Third Spaces Group, found three quarters of co-working participants considered a shared hub to be important to their overall success.
In addition, the vast majority of respondents felt their professional networks and overall efficiency at work was improved thanks to being part of a co-working space.
Brad Krauskopf, founder and chief executive of Third Spaces Group, says the workplace is evolving and organisations should be taking notice.
“We’re seeing this shift towards the user being able to make the decisions about where they work, how they work and with whom they work,” he says.
“We will rely on co-working spaces to be the spaces in between and rely on our home offices to be another space. We certainly don’t see that the head office goes away… if anything, it’s important that the head office is a communication hub and sets the culture of the company. But we’ll definitely see that a co-working space becomes part of the property piece.”
Krauskopf says startups are naturally leading the charge when it comes to embracing co-working spaces.
“Culturally, we still like line-of-sight management and there is actually a shortage of management experience around how to manage a distributed workforce,” he says.
“The truly disrupted nature of working has been talked about for a couple of decades now except it is only in the last few years with the emergence of the cloud and fast internet that it’s actually possible. To think that we were suddenly going to develop the management expertise overnight was simply never going to happen… it’s going to take time.”
Murray Hurps, the general manager of Fishburners, said there has been “an explosion” of co-working spaces in Australia.
“Co-working by itself is good but having focused co-working is I think potentially more impactful,” he says.
“If you have for example a fin tech hub and you are going to focus on attracting fin tech startups and share your network and experience… you can create so much value just by having that critical mass.”
The major thing standing in the way of co-working spaces, according to Hurps, is high property prices and crippling rent.
“To continue expanding at the rate we are – which is one thousand square metres every few months – is just impossible at Sydney prices,” he says.
“But that’s a problem every company in Sydney has. If there’s one thing that could really improve it, I would say there’s a lot of residential development going on in Sydney and there’s an opportunity for councils… to approve more space for co-working spaces. The spaces that are being allocated at the moment just aren’t enough for the demand we have at Fishburners personally.”
This article first appeared on <a href="https://www.startupsmart.com.au/" target="_blank">StartUpSmart</a>.
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Co-working spaces are taking hold in Australia but rent a major stumbling block

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Buoyant residential property markets helped Australia’s stock exchange-listed home builders deliver strong interim results in the first half of the financial year, February’s reporting season revealed.
The largest listed residential developer, Stockland Property Group, reported a 73% improvement in its home building business in the first half of 2015, which lifted group profit by 55.1% to $462 million.
Stockland chief executive Mark Steinert said the residential business was bolstered by improved market conditions and strategies the company had put in place to increase speed to market and broaden its customer target markets.
Improving market conditions and higher production levels also helped AV Jennings increase its profit. The company reported $11.9 million net profit after tax, up 42.1% compared with the same period in 2014. Chief executive Peter Summers said residential markets in Sydney, Brisbane and Melbourne were stable to strong, while South Australia’s market was more subdued.
Mirvac chief executive Susan Lloyd-Hurwitz forecast continuing growth in residential property prices with Sydney in particular supported by an “entrenched undersupply” of homes. Mirvac, which like Stockland develops and invests in both residential and commercial property, reported a 13.4% increase in profit to $279 million, with operating profit after tax rising by 15.5% to $231.2 million compared with the half to December 2013.
Analysts at Morningstar said that while surging residential prices and volumes have driven earnings for residential developers, they believe the sub-sector is operating close to peak profitability.
“The significant improvement in mortgage affordability has driven a spike in household approvals. Part of this increase will alleviate pent-up demand in some markets (mainly Sydney) but we believe a material part of the increase reflects the “bringing forward” of dwelling purchase decisions,” the analysts noted.
“The issue for developers is any rise in interest rates, which doesn’t appear likely in the near term, will result in a double hit to margins because of lower volumes and softer prices. As in past down cycles, the developers who add to their land banks late in the cycle are most at risk.”
Other listed residential developers including Peet and Villa World also boosted profits, while Cedar Woods forecast record performance for its full year despite a weaker first half.
Villa World reported a $13 million first-half profit, up from $7.6 million in the prior corresponding period and predicted its full-year before-tax profit would hit $28.5 million.
Peet Group reported a first-half profit of $13.2 million, 30% higher than the same period of 2014. Chief executive Brendan Gore forecast continued improvement in the second half.
“The Australian housing market fundamentals remain positive with a sustained period of record low interest rates, low inflation rate and continued population growth,” Gore said in a statement to the ASX. “However, the factors putting pressure on official cash rates – weaker jobs market, slow wages growth, and lower commodity prices – are also having some impact on consumer and business confidence, particularly in Western Australia.”
Another Western Australian developer, Cedar Woods Properties, reported a $9.1 million first-half profit, 55.8% lower than in the previous first-half, but it also issued profit guidance for the full-year of $41 million, which would be a record for the company.
Cedar Woods said strong pre-sales and a solid delivery program would help it achieve its forecast result, assuming markets remained sound.
Finbar, which is also based in Western Australia, reported a worse result than in the first half of 2014. Managing director Darren Pateman said the $11 million first-half profit was due to project completion timing not working in the company’s favour but said it was still expecting a solid full financial year with the completion of other projects anticipated in the second half.
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zfielding-GvX3Uq9KTa

Buoyant market helps residential REITs deliver strong February results

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The Continental Hotel at Sorrento has been listed for sale by the Di Pietro family with $15 million expectations.
The four storey limestone building sits on a 3,580 square metre holding. 
<a href="https://www.continentalhotel.com.au/History.htm" target="_blank">The "Conti"</a> stands tall at its hillside 1-21 Ocean Beach Road position.
The hotel will be sold with freehold and business with offers due 16 April through Sothebys International agent Rob Curtain, in conjunction with CBRE.
The pioneer thespian and entrepreneur George Coppin built the mansard-capped hotel in the 1870s. The seaside spruiker shipped wealthy Melburnians to the Mornington Peninsula on his paddle steamers, and then put them on his tramway to stay at his Hotel Continental.
In 1890 the hotel was bought by Isaac Edward Bensilum for £6,000, the original cost of the hotel being £14,000.  
Bensilum who ran the hotel with his wife Nellie, built The Athenaeum in 1894.  
Owners and Licensees:
<table style="width: 460px; height: 247px;" border="4" cellspacing="0" cellpadding="10" align="center"><tbody>
<tr>
<td bgcolor="#ffffff">
1875 – 1890 
</td>
<td bgcolor="#ffffff">
George Coppin – licensee John Crawford 
</td>
</tr>
<tr>
<td bgcolor="#ffffff">
1890 – 1913 
</td>
<td bgcolor="#ffffff">
Isaac Edward Bensilum 
</td>
</tr>
<tr>
<td bgcolor="#ffffff">
1913 – 1921 
</td>
<td bgcolor="#ffffff">
T E Hawkins 
</td>
</tr>
<tr>
<td bgcolor="#ffffff">
1921 – 1923 
</td>
<td bgcolor="#ffffff">
L Fitzgerald 
</td>
</tr>
<tr>
<td bgcolor="#ffffff">
1923 – 1953 
</td>
<td bgcolor="#ffffff">
L De Vine 
</td>
</tr>
<tr>
<td bgcolor="#ffffff">
1953 – 1960? 
</td>
<td bgcolor="#ffffff">
N &amp; G Fernhead 
</td>
</tr>
<tr>
<td bgcolor="#ffffff">
1960 - 1990 
</td>
<td bgcolor="#ffffff">
tbc 
</td>
</tr>
<tr>
<td bgcolor="#ffffff">
1996 - current 
</td>
<td bgcolor="#ffffff">
 Di Pietro Family
</td>
</tr>
</tbody></table>
Source: The Continental Hotel
It was on the toss of a coin - a choice between Australia and America - that Coppin sailed from Sussex on the Templar, arriving in Sydney in 1843 with his partner, Maria Watkins Burroughs, where he was to perform at the Royal Victoria Theatre on Pitt Street.
Coppin briefly owned the Clown Hotel, directly opposite the theatre, which failed as Sydney's first permanent musical entertainment venue, before he moved south.
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Sorrento's Continental Hotel for sale

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A crowd of more than 150 people were drawn to Melbourne CBD’s when local and offshore bidders competed for a Chinatown retail property.
With a $4 million opening bid, it was sold to a local investor for $5.01 million on a tight 3.87% yield through Clinton Baxter and Nick Peden of Savills.
The 30 minute auction saw 95 registered bids after more than 220 pre-auction enquiries. 
The 166 Russell Street property sold well in excess of price expectations. The vendors, Lai Meng Wong, Mui Chun Cheew and Kok Leong Lee, through Australiawide Melbourne Pty Ltd paid $1,927,000 in mid-2008. It sold at $237,500 in 1986. 
Located on a 136 square metre site, the four level, 295 square metre, retail building was sold with a five year lease to long standing tenant, Cats Hair and Beauty, at a net annual rental of $194,182. 
Clint Baxter said the tight yield set a new benchmark for CBD retail properties.
Investors were now fully prepared to accept below 4% yields for prime retail assets, he said.
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Savills Melbourne Chinatown retail auction affirms sub 4% yields

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A Lakemba development sold at auction last weekend at $1.86 million.
The 15-17 Quigg Street offering was zoned R4 high density residential.
<a href="https://www.propertyobserver.com.au/https://www.homely.com.au/lakemba-canterbury-sydney-greater-new-south-wales/listingdetails/893187" target="_blank">The block size was 976 square metres,</a> suitable for unit development, according to selling agents, Knapton &amp; Co.
Lakemba is 12 k milometres to the Sydney CBD.
Last year a 1024 square metre potential development site zoned R4 High Density Residential, with very large four bedroom full brick home, was sold at 23 Quigg Street North for $1,925,000.
At 78 Quigg Street South, a 1,144 square metre site remains for sale at $1.25 million<a href="https://www.richardmatthews.com.au/buying/NSW/Canterburyorbankstown/Lakemba/House/1P0576" target="_blank"> through Richard Matthews Real Estate</a>.
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Lakemba unit development site sells at $1.86 million

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Research analyst PIR is advising clients to sell their holdings of Australian real estate investment trusts after prices for the companies rallied and many in the sector performed well in the latest reporting season.
Listed Australian property companies <a href="/expert-insights/investing/reits-deliver-strong-results-in-february-reporting-season">delivered strong results in the latest reporting season</a>. The S&amp;P/ASX 200 A-REIT index, which tracks stocks in the sector, gained 30% over the year to the end of February compared with a rise of 10% for the broader S&amp;P/ASX 200 index.
“The A-REIT sector has rallied hard, and the listed market is pricing in strong earnings growth, strong NTA [net tangible asset] growth, or (the simplest and most probable explanation, given the rally in other “yield” stocks such as banks) very low interest rates,” PIR analysts noted.
“The risk is that the market may rotate out of yield stocks, prompting a sell-off in REITs. Take profits now and re-enter at a better level,” they advised.
REITs are considered to be yield stocks because they typically pay stable streams dividends to shareholders from rent collected on properties.
Charter Hall Retail REIT, which reported its half-year results on 19 February, paid out 13.7 cents per share on earnings of 14.87 cents a share for the first half. It forecast it would achieve full-year operating earnings per share of 29.6 to 30 cents, of which 90% to 95% would be paid to investors.
PIR recommended clients reduce their holdings of Charter Hall Retail REIT, commenting that at $4.53 at the time of the report, the stock was “getting pricey”.
Other analysts have different views on the stock and the REIT sector more generally. According to opinions tracked on Yahoo Finance, one analyst says sell Charter Hall Retail REIT and seven expect it to underperform but four recommend holding.
Commentators, including Atchison Consultants analyst Ming Niu, <a href="/expert-insights/investing/will-areits-remain-attractive-once-interest-rates-start-to-rise-ming-niu">believes REITs will continue their strong performance</a>, perhaps with marginal price falls. 
PIR analysts are also recommending clients reduce their holdings of Arena REIT, which invests in social infrastructure sectors such as childcare, healthcare, education and government tenanted facilities. Arena said in its half-year results that it would deliver distributions of 10 cents per share for the full financial year.
PIR’s recommendation stands apart from other analysts’ assessments with two of those whose opinions are listed on Yahoo Finance saying hold and one saying buy.
Folkestone Education Trust is another stock PIR is recommending clients reduce. The company trades on a forecast price earnings ratio of above 17 times, against a P/E ratio of 15.7 times for the wider sector. The analysts noted the stock is trading at a premium of about 30% to its NTA and its distribution per share yield is about 6%.
“The listed market is pricing in strong earnings growth, strong NTA growth and yield compression, or – more likely, given the rally in other “yield” stocks such as banks – very low interest rates,” the analysts noted.
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