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.

&nbsp;

&nbsp;

&nbsp;

&nbsp;

&nbsp;

[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

<html><body>
Sweetwater, a world class winery located in the rolling hills of the Hunter Valley, has been listed for sale.
<a href="https://jurds.com.au/listings/rural_sale-319321-pokolbin/" target="_blank">The 48 hectare Pokolbin property</a> is being marketed by Jurds Real Estate as the most significant country vineyard estate in Australia.
Inspired by southern European vineyard estates, in it is a planned hamlet with a series of interlocking properties of differing eras.
Producing Cabernet Sauvignon and Shiraz on 16 hectares, there is also a cellar door.
<img src="/images/2015/02/18/sweetwater-feb-17-three.jpg" alt="">
There is private owners and guest wing accommodations, entertaining loggia and plunge pool. There is also an olive grove.
Sweetwater Wines, part of the Hardie Holdings group, purchased the land in 1997 in Belford from Belford Pastoral Company, which was originally granted to the pioneering Richard Jones, a merchant and pastoralist.
In 1829 Jones had received 10,000 acres at Singleton in the Hunter Valley from where he established one of his finest vineyards in the Patrick Plains Shore at Sweetwater Creek off Old North Road. 
In 1844 from Jones’s first plantings, his vineyard produced a total of 2,000 gallons of wine. 
<img src="/images/2015/02/18/sweetwater-feb-17-one.jpg" alt="">
When Sweetwater Wines purchased the property, there was clear evidence of several vineyards, which at that stage consisted of rows of mainly dead, but in some cases struggling vines with huge old knarled bases and the odd spindly vine struggling to survive. These were being grazed by cattle, and on advice from our viticulturist, dozed and burnt, as a precaution against plant disease.
Sweetwater Wines had Brian McGuigan give early advice on the layout and planting, having worked on the vineyard when he was about 18 years old.
Alan Jurd at Jurds Real Estate has Sweetwater for sale with $30 million plus expectations. "The enquiry levels of 2007 have started to return given the current exchange rate," he said.
{qtube vid:=LfAHBt8Sf8M}
</body></html>

jchancellor-FAypfDUnLy

Sweetwater, the world class Hunter Valley vineyard estate has $30 million plus hopes

<html><body>
GUEST OBSERVATION
Dear Premier Palaszczuk,
As you meet with <a href="https://www.couriermail.com.au/business/business-looks-for-economic-diversity-infrastructure-stability/story-fnihsps3-1227220692715" target="_blank">Queensland business leaders</a> on Tuesday and get down to the business of governing, you’re sure to face many immediate preoccupations and challenges. But considering <a href="https://www.propertyobserver.com.au/https://www.abc.net.au/news/2015-01-23/regional-queenslanders-worried-about-downturn-of-state-economy/6035220" target="_blank">the economy was the dominant issue</a> of this election, I would like to provide three pieces of advice for your new Labor minority government.
The economy is ultimately about people
First of all, I would encourage you to remember that the ultimate objective of economic policy is to promote inclusive economic growth and welfare. I use the word inclusive here to mean that all individuals, especially those at the bottom end of income distribution, should be guaranteed access to the benefits and opportunities arising from the increasing pace of economic activity. It is only by being inclusive that growth can effectively generate “development”.
Budget, taxes, debt and expenditure are only tools that the government can use to achieve the fundamental goals of inclusive growth and welfare. Unfortunately, in the recent past both the federal and Queensland governments have mistaken tools for objectives.
This has led to a policy of “minimisation”: to minimise debt, minimise deficit, and minimise expenditure. This is hardly a good way to run fiscal policy. On the contrary, inclusive growth and welfare become more difficult to achieve when the only purpose of policy is to shrink the size and scope of government, thus compromising its ability to supply public goods and to stabilise the economy against cyclical shocks.
There are two important features that should instead characterise good fiscal policy.
One is the synchronisation of expenditure with the business cycle. Cutting expenditure just to balance the budget in a time of economic contraction will only make the contraction worse. Conversely, when the economy slows down, the government should increase expenditure and possibly run a deficit. This will help the economy recover.
That is not just theory: my own research on Australia indicates that one extra dollar of government expenditure generates <a href="https://www120.secure.griffith.edu.au/research/file/dd80d33e-ccac-46f9-ac58-d9ff7d41b5b7/1/2014-08-does-government-expenditure-multiply-output-and-employment-in-Australia.pdf" target="_blank">more than one dollar</a> of gross domestic product (GDP). I have done similar research for Queensland, which is yet to be published but which found a similar result.
Of course, the increase in expenditure and deficit in time of contraction must be offset by expenditure cuts and surpluses in time of economic expansion. This counter-cyclical pattern of government expenditure and deficit will ensure that the economy is stabilised in response to shocks, and there is no accumulation of debt in the long-term.
The second feature of good fiscal policy is attention to quality considerations in public investment. It is rather common to think that economic growth is just a matter of investment, and hence that the best (and possibly only) way in which governments can support growth is by throwing money into some infrastructure projects.
But the quality of investment and spending is as important as its quantity. Quality, for instance, means that upgrading the curriculum or promoting work-integrated learning is as important as building a new school.
Similarly, the growth payoff from building a tunnel that does not really address any transport bottlenecks or does not facilitate connectivity between market nodes is going to be small. I guess that the general message here is: public investment in infrastructure is not a panacea, and there is more that the government should/can do to promote inclusive growth.
Obsession with debt
My second bit of advice Premier is to get some perspective on the “debt problem” of Queensland.
There is no question that <a href="https://theconversation.com/the-true-state-of-queensland-debt-36345" target="_blank">Queensland debt has grown considerably</a> since 2006-07, and that today the debt to GDP ratio in Queensland is higher than in the rest of Australia, as I showed <a href="https://theconversation.com/the-true-state-of-queensland-debt-36345">in a recent article</a>.
But from a policy perspective, what matters is not much the comparison with other states, but instead the extent to which debt is sustainable. Sustainability refers to the dynamics of the debt to GDP ratio in the long-term. It is a simple matter of algebra to show that debt is sustainable as long as the economy grows sufficiently fast.
So, the issue of sustainability is essentially a question of economic growth. If in the attempt to reduce debt you were to undertake cuts or actions that undermine the growth potential of the economy, then the debt problem would simply get worse.
Now, this does not mean that Queensland should take a course of fiscal profligacy. It means, however, that there is no need at this stage to make drastic measures to repay debt. The type of counter-cyclical fiscal policy previously described, coupled with sound interventions in support of growth, will be enough to prevent further debt accumulation and hence to ensure its sustainability.
I welcome your government’s decision to re-consider the proposed plan of asset privatisations. It is the wrong response to a problem that does not require any such strong choice.
From an economic perspective, there is simply no evidence to support the notion that the private sector always does it better. Certainly, there are several examples of successful privatisations of public assets. But there are also many instances where privatisation has not resulted in a decrease in price and/or an increase in consumer’s satisfaction.
What does the economic data tells us?
And this brings me to the last bit of advice: make sure that your team takes a comprehensive look at the economic data before making any big decisions.
If good fiscal policy means that government expenditure must be synchronised to the business cycle, then the government must be able to identify and even predict the phases of the cycle. This in turn requires making the most efficient use of the large volume of statistical information that is available today. That is, good economic policy must be guided by a good understanding of the economic data.
A good look at the data is also important in terms of communication. I do not think that it helps the cause of any government to advertise a strong economy when – as is the case in Queensland today – gross domestic income per capita <a href="https://theconversation.com/the-true-state-of-queenslands-economy-without-the-spin-35959">is declining</a>, the only jobs that are being created <a href="https://theconversation.com/what-unemployment-figures-really-say-about-queensland-36305" target="_blank">are part-time</a>, and the unemployment rate <a href="https://theconversation.com/what-unemployment-figures-really-say-about-queensland-36305" target="_blank">is higher</a> than what it was three years ago (with or without seasonal adjustment).
Fabrizio Carmignani is a professor at the Griffith Business School at Griffith University.
This article was originally published on <a href="https://theconversation.com">The Conversation</a>.
</body></html>

FabrizioCarmignani-GxUevkhNYc

Queensland’s biggest economic challenge isn’t debt – it’s growth

<html><body>
The extent to which the Abbott government’s woes have effects in the real world of Australian lives was on display in last week’s January unemployment numbers from the <a href="https://www.propertyobserver.com.au/https://abs.gov.au/ausstats/abs@.nsf/mf/6202.0?OpenDocument" target="_blank">Australian Bureau of Statistics</a> (ABS).
First, the good news: the number of aggregate hours worked in January was up a lot — 0.5% seasonally adjusted. And part-time employment rose nearly 16,000 jobs, seasonally adjusted.
But nationally, unemployment rose 0.3 points to 6.4%, the highest in over 12 years. That more than reversed the surprise fall in December to 6.1% from 6.2% in November. In trend terms, unemployment remained steady at 6.3%. Participation was steady at 64.8%, seasonally adjusted, so the big rise in unemployment was not due to participation. It was driven by a fall of 28,000 in full-time jobs.
There was a 0.3 point rise in unemployment in NSW to 6.3%, where participation dropped 0.1 of a point. It dropped the same in Victoria, where unemployment rose to 6.6% from 6.5%. In Queensland, the final legacy of the Newman government was a 0.3 point rise in unemployment to 6.5%, off the same small fall in participation as in NSW and Queensland. South Australia saw a big rise in unemployment, from 6.6% to 7.3%, but the numbers in smaller states are always more volatile, and it was accompanied by a 0.7 point jump in participation. Western Australia recorded a fall of 0.3 points to 5.9% unemployment, off another 0.1% fall in participation, while unemployment was flat in Tasmania at 6.6%.
Overall, the numbers show that, as forecast, the jobs market slowed at the start of 2015 after a strong finish to 2014. That strong quarter coincided with problems around the accuracy of the ABS jobs data. But in a note with the release, the ABS made it clear those recent problems had no impact on the January figures:
“The increase in unemployment in January 2015 in original and seasonally adjusted terms has not been caused by the recent changes to the ABS supplementary survey program.
“Historically, the ABS had not conducted supplementary surveys in the December and January months, and no supplementary surveys were conducted in December 2014 and January 2015.”
It continued:
“The increase in unemployment in original terms is due to:
<ul>
<li>a net increase in unemployment in persons who responded to the labour force survey in both December and January (the ‘matched sample’),</li>
<li>a contribution from the incoming rotation group compared to the group it replaced, and</li>
<li>a contribution from persons who responded in December but not in January and vice versa.”</li>
</ul>
“Overall response rates for both December and January were in the ABS’s target range of 93% to 95%,” the ABS added. Adding to the need for caution about the jobs data was the number of jobs added to the economy in December being revised upwards from 37,400 to 42,300. A downward revision would add to any feeling the jobs data for January was showing a weakening demand for labour.
The overall result bears out the RBA’s obvious concerns about the fragile state of growth in the economy. And the concerns of the rest of us that the Abbott government doesn’t have the wherewithal to address it.
This story originally appeared on <a href="https://www.crikey.com.au/2015/02/12/unemployment-lurches-up-while-government-navel-gazes/">Crikey</a>.
</body></html>

po-LsXgBTHBmX

Unemployment lurches up while government navel-gazes

<html><body>
The prospect of including the family home in the pension assets test was not being seriously considered by the Minister for Social Services, Scott Morrison.
He reportedly discussed it with two seniors groups, National Seniors Australia and Council on the Ageing (COTA) Australia last month, but ruled it out this morning.
It was suggested the government had agreed that Baby Boomers, whether retired or approaching, would be exempt from any asset test changes that would be transitional to allow ample time to prepare.
The discussion comes ahead of the upcoming intergenerational report, the five-yearly public service exercise containing the 40-year budget forecasts.
Morrison, who was put in charge of the welfare system in the late 2014 Abbott Government ministerial reshuffle, sounded out seniors groups during talks late last month, according to the report by Phil Coorey at The Australian Financial Review.
But today Scott Morrison said the idea of restricting wealthier retirees' access to the pension by means-testing their homes was not something he was considering. 
"The idea that this Government would put the family home in the assets test for the pension is just not under consideration," he told ABC Radio National this morning.
Instead Scott Morrison said he wanted to encourage older people to move into smaller homes using the money to fund their own retirement.
"There is a big penalty at the moment for people who want to choose to sell the family home and to use income to support them as they age," he said.
"We do have an ageing population and at the moment the system penalises people for doing that."
The 2010 intergenerational report estimated that by 2049-50, age-related pension payments would increase from 2.7% of GDP to 3.9%.
The Grattan Institute estimated in 2013 that including some of the value of the home in the assets test could raise $5 billion a year given pensioner-age households with a $1 million in net assets. 
Labor opposes including the family home in the assets test on the basis that the value of the home depends on where people live.
"A lot of people would live in Sydney, for example, in a house they bought a long, long time ago, which has increased in value. Doesn't mean they are cash rich. It just means they are living in a house in which they have raised their family and which now has a considerable value to it because they live in Sydney," shadow treasurer Chris Bowen said.
</body></html>

Scott Morrison re-considering family home inclusion in pension assets test

<html><body>
 Is NSW building a property crisis?
Well there are many arguments to this equation although I don’t really believe we will see a major downturn from a real estate collapse. 
Parts of Australia are doing exceptionally well and other parts such as Western Australia (which are not reported) are experiencing massive corrections. The heart of the problem is that Australia is now into its sixth year of a low cash rate that looks to go even lower.
It was not a good week with the Australian Bureau of Statistics (ABS) releasing the jobless rate this week which showed that the jobless rate had jumped from 6.1% to 6.4% between January and December. Australia now has the second highest unemployment rate in the English speaking world. 
Of course the Abbott government will point to the Senate blocking key budget measures which is in part true however those measures are not going to resurrect the jobless rate. As I wrote last week – <a href="https://www.rwm.com.au/2015/02/06/kick-start-the-economy-and-abolish-payroll-tax/" target="_blank" title="Kick start the economy and abolish payroll tax">kick start the economy and abolish payroll tax</a> given for years Treasury officials and commentators have expressed opinions that this tax is slowing down business growth and jobs.
NSW faces an election next month so imagine what would happen if NSW Labor announced that if elected they would abolish payroll tax? The NSW government has an extra $20 billion in the bank following the sale of poles and wires so it would be fair to see concessions made to their ugly taxes of stamp duty and payroll tax.
In 2013, 14 more than 860,000 real estate transactions were undertaken in NSW which in real terms equates to a windfall in stamp duty receipts. So what we have is the NSW government making hay whilst the sun shines, although I would issue a warning to them in that NSW will see fewer transactions given a large proportion of these transactions went to investors who are long-term investors. 
The other point that needs to be raised is that NSW and Victoria have the highest rates of stamp duty in the country where the rates have only ever gone up. In NSW the stamp duty paid on a median – priced home has grown to around 25% of annual disposable income per household, from close to 10% in 1991.
NSW is in the fortunate position that it has amazing upside with investors clamoring to buy bricks and mortar largely within a 15 kilometre radius of the CBD. These suburbs are gold plated where for the very first time they have multiple buyer demographics – overseas buyers, investors, home owners and first home buyers to a lesser degree.
One Mosman real estate agent incorrectly reported this week (no surprises there) that Asian buyers accounted for around 20% of Mosman house sales in 2014. Like most things we have read about real estate in recent times there is much more fiction than there is fact. 
I went to CoreLogic RP Data and noted that Mosman recorded 353 house transactions in 2014 and looked at the vendors names and noted that on 36 occasions the buyers had Asian names. So 36 transactions from 353 sales shows a market share of 9.8% and the vast majority of these would be Australian residents – although we will never really know.
You see it’s very easy for an overseas buyer to transfer money to an Australian resident to buy a property which is placed in the resident’s name. Down the track, when the overseas party is granted Australian residency, so long as they show proof that the buyer of the property was acting as their “trustee” and all the monies paid was theirs, then at a cost of $50 they can transfer the property into their name – it’s that easy. 
The Foreign Investment Review Board never hear or even see these stealth property transactions, but the state government does receive stamp duty from the transaction although many would argue that this loophole needs to be closed as a matter of urgency. The other problem is that the appointed authorities have no idea that this even exists or for that matter happening. If it’s a loophole then it should be closed.
So back to the cash rate, which has now been at record lows for six years and will in all probability stay at these lows for probably another six years. The average term for a mortgage is 25 years so what we are seeing is half that term (12 years) at record lows where nearly all are not on interest only repayments. So theoretically, when the cash rate does start increasing those households would have paid down the greater share of their respective mortgage.
A NSW Greens candidate has weighted into next month’s election by proposing significant changes to the rights of those renting:
<ol>
<li>Allow landlords to impose one increase in rent per year.</li>
<li>
Cap rent rises at the rate of inflation (or the CPI) which is usually around 2 to 3% each year.
</li>
<li>Not allow landlords to evict tenants without a valid reason.</li>
</ol>
So when it comes to property and taxes in NSW, we all must remember that our politicians know best.
</body></html>

robertsimeon-hRNTwJyXkQ

Is NSW building a property crisis?

<html><body>
Prices for residential property in Australia’s major capitals will continue to rise but at a slower pace than in previous years and there will be variation across different parts of the cities, the head of Mirvac has forecast.
Demand for housing is outstripping supply in many locations, while low interest rates are continuing to support residential markets and housing finance is up in all major states, Mirvac chief executive Susan Lloyd-Hurwitz said at the company’s half-year results briefing.
“We expect housing credit to continue to grow,” Lloyd-Hurwitz said.
The value of dwelling finance commitments excluding alterations and additions rose 4.7% from November 2014 to December in seasonally adjusted terms, the latest Australian Bureau of Statistics (ABS) data shows.
Building approvals increased by 8.8% in seasonally adjusted terms in the December quarter of 2014 compared with the same quarter of 2013, according to ABS figures.
“Sydney in particular is supported by entrenched undersupply,” Lloyd-Hurwitz said. “Over the next 20 years an additional 1.6 million people will live in Sydney and to accommodate that population growth the market needs to supply over 33,000 new dwellings per annum and that’s a level [of construction] that has never before been sustained.”
All major states had experienced strong population growth, although this has slowed in Queensland and Western Australia.
Demand for housing coupled with limited supply is expected to drive property prices higher.
Mirvac expects modern, higher density dwellings with access to infrastructure and amenities to be most in demand, particularly in the south eastern states. The company secured nine new residential projects in the first half of the 2015 financial year with most of the lots in NSW.
Overall, the company’s residential portfolio is dominated by properties in Sydney and Melbourne, with more than half apartments.
“While overall vacancy rates are low across all capital cities there are pockets of oversupply which requires us to be very disciplined about which submarkets we pursue,” Lloyd-Hurwitz added.
Mirvac has walked away from residential development opportunities when the risks were too high or the rewards too low, she said.
The company reported a $279 million profit attributable to security holders for the first half of the 2015 financial year, up 13.4% compared with the previous first half. Operating profit after tax increased to $231.2 million, up 15.5% compared with the half to December 2013.
It has forecast full year earnings per security will be between 12.2 and 12.3 cents, and distributions will be 9.2 to 9.4 cents per security.
</body></html>

zfielding-GvX3Uq9KTa

Mirvac expects slowing in price growth

<html><body>
Residential property prices along the eastern seaboard will continue to grow for the next few years supported by strong population and employment growth, low interest rates and an undersupply in many housing sub-markets, Stockland Property Group chief executive Mark Steinert has predicted.
Stockland reported a 55.1% increase in statutory profit for the first half of 2015 compared with the prior corresponding period. The huge increase was largely due to revaluations of its commercial property assets, but underlying profit was also up by 8.5%, driven by a 73% improvement in its residential business.
“Growth [in the residential business] came not only from supportive market conditions but more particularly from launching new projects, activating our land bank and also improvements in [sales] volume, in particular in Victoria and Queensland,” Steinert said in announcing the half year result.
The company sold 22% more residential lots in the first half of 2015 than during the same period of 2014. It has entered the second half of the financial year with a record 3700 contracts on hand, up 550 compared with the previous six months.
“The Western Australian market is slowing – we’ve been talking about that for well over a year – but overall we expect, particularly on the eastern seaboard, an elongated residential cycle that will continue to show reasonable levels of growth for the next couple of years,” Steinart said,
Stockland’s residential division specialises in producing affordable low and medium density homes. More than 45% of its residential properties are sold to first home buyers.
The company plans to continue to boost profits in its residential division by developing more of its land reserves and buying additional development land adjoining or close to its successful projects to take advantage of brand awareness in the local markets.
Residential property makes up around 20% of Stockland’s business. Steinert said its other divisions had also performed well.
Underlying profit from the retail business was up 3.3%, logistics and business parks was up 5.7%, and office was up 7.8%. The retirement living business reported a 5.8% increase in operating profit.
The company tighten its guidance range from 6.5 to 7% earnings per security growth to 6.75 to 7% EPS growth for the full year. It forecast distributions would be maintained at 24c, assuming conditions remained reasonable. 
DISCLAIMER: Zoe Fielding owns shares in Stockland.
</body></html>

Western Australian housing price growth slowing: Stockland results 

<html><body>
The Australian economy will drop out of the G20 by 2050, according to research published by PwC.
And the slide will continue unless the nation’s leaders fundamentally change the way they think about investing in science, technology, engineering and mathematics (STEM) skills, says one of the country’s leading technology entrepreneurs, <a href="https://www.smartcompany.com.au/legal/politics/45612-why-australia-keeps-getting-it-wrong-on-employee-share-schemes" target="_blank">Matt Barrie</a>.
The <a href="https://www.pwc.com.au/consulting/assets/publications/World-in-2050-Feb15.pdf">PwC The World in 2050 report</a> predicts the Australian economy will drop 10 places in world rankings by the middle of the century, dropping from its current rank of 19 to 29.
This would put the Australian economy behind the likes of growing economies such as Bangladesh, Pakistan and the Philippines and far behind economic powerhouses China, India and the US, which are predicted to stay at the top of the rankings over the next 35 years.
According to PwC, the end of the Australian mining boom, and a lack of investment in other parts of the economy, will cause the Australian economy to fall behind.
The PwC rankings are determined by comparing the purchasing power parity of each economy and this year’s result shows a broad shift from developed economies to emerging economies.
While China is predicted to remain the largest economy by 2050, India is expected to overtake the US for second place, and Indonesia, Mexico and Nigeria could push the UK and France out of the top 10.
The Philippines, Vietnam and Malaysia are expected to shoot up the rankings, while Colombia and Poland will grow at a faster rate than the large economies of Brazil and Russia.
PwC Australia economics partner Jeremy Thorpesaid the research indicates the Australian economy will “revert to trend” and we “won’t see the mining boom in the same way”.
While Thorpe says PwC is not trying to predict exactly what the Australian economy will look like, the takeaway from the research is that “we know the economy is going to be different and STEM will be important wherever it goes”.
“The Australian economy is not going to be as large in relative terms and so our companies are not going to be competing on scale,” Thorpe says.
“They will be competing at the smarter end.”
Thorpe says this represents an opportunity for “smaller, nimble companies”, especially those built on digital disruptive technology, and that is why it is essential to make long-term investments in STEM capabilities.
“Many of these things don’t pay off immediately,” says Thorpe.
“You can’t cut the ribbon in the same way you can for a new bridge, you have to look beyond the political cycle. But as the events of the past week have shown, it can be heard to divert attention from the here and now.”
Freelancer founder Matt Barrie agrees with Thorpe’s analysis, said he fears the Australian economy will follow the same path as the resource-rich Argentina, which saw a dramatic decline in its wealth because of government policies that did not alter the composition of the economy.
Barrie has spoken out regularly about the need for investment in STEM skills in Australia, including to <a href="https://www.linkedin.com/pulse/20140627074014-921366-australia-technology-policy-points-in-letter-to-malcolm-turnbull" target="_blank">Communications Minister Malcolm Turnbull last year</a>.
“We have actually gone backwards in our thinking about the tech industry or science,” says Barrie, who lays the blame with “successive Australian governments”. 
“There have been rampant cuts. I don’t think it would be possible to do more damage.”
Barrie points to cuts to funding for science research, declining university enrolments in STEM subjects and courses, the “dumbing down” of curriculum in primary and secondary schools, as well as the “screwing up” of remuneration schemes for technology companies, as just some of what he believes are damaging policies.
“It just goes on and on and on,” he says. “We’re at risk of becoming a shipwreck … It’s death by a thousand cuts.”
If given the chance, Barrie says the first thing he would change is the K-12 curriculum taught in Australian schools.
“Every little kid wants to design the next Facebook … the next mobile phone app but they don’t know how,” he says.
“We need to help them connect the dots.”
He would also encourage more people to work in STEM fields and appoint a national chief technology officer who would be responsible for setting longer-term goals.
But as long as the topic remains off the table in Canberra, Barrie says he “is at a loss”.
“There is fundamentally something wrong in the way our country is governed,” he says.
This artiocle first appeared on <a href="https://www.smartcompany.com.au/" target="_blank">SmartCompany</a>.
</body></html>

ekeating-PWvazjYE25

PwC forecasts what Australia’s economy will look like in 2050

<html><body>
Frasers Centrepoint achieved a 55% surge in first-quarter profit from the corresponding period, after a boost from new contributions following the acquisition of Australand in Australia.
FCL reported the increase came primarily from contribution from Australand Property Group, which was acquired in August 2014.
Australand’s residential business received a boost from a significant level of completions at the Clemton Park and Discovery Point residential projects. 
For the three months ending 31 December, net profit totalled S$186.9 million (A$177.58 million), up from S$120.8 million (A$114.77 million) in the same period earlier, as revenue nearly doubled to S$1.07 billion (A$1.02 billion) from S$552.1 million (A$524.55 million), Frasers Centrepoint said.
<div>The listing of Frasers Hospitality Trust in July last year resulted in new income streams from the six hotels acquired by the trust from Thailand’s TCC Group, it said.</div>
Frasers Australand, comprising Australand that was acquired last August and Frasers Property Australia, almost doubled its year on year profit before interest and tax to S$127 million (A$120.66 million), mainly as a result of a significant level of completions at the Clemton Park and Discovery Point residential projects.
“This first quarter of FY14/15 marks the maiden full-quarter contribution from Australand, which has not only enlarged our income base but also enhanced the sustainability of our earnings through an increase in recurring income,” Frasers Centrepoint chief executive Lim Ee Seng said.
The Australian residential market continued to be strong, providing a positive environment for Frasers Australand’s planned release of around 1,500 dwellings over the remainder of the fiscal year.
Lim Ee Seng said it was important to continue to focus on the smooth integration of Australand into the group. 
Bob Johnston heads the combined Frasers Property Australia and Australand Property Group operations.
The report noted completion and settlement of over 750 apartments in 1Q FY14/15, including at two major residential projects – Clemton Park and Discovery Point
Released 658 land lots and apartments across five projects for sale in 1Q F14/15.
Frasers Australand, comprising Australand and Frasers Property Australia (“FPA”), recorded 156% and 99% year on year increases in revenue and PBIT to S$692 million (A$657.47 million) and S$127 million (A$120.66 million), respectively, in 1Q FY14/15.
Of these, Australand contributed S$568 million (A$539.66 million) in revenue and S$108 million (A$102.61 million) in PBIT mainly as a result of a significant level of completions at the Clemton Park and Discovery Point residential projects during the reporting quarter.
Gains from Australand were partially offset by lower contributions from FPA as sales at the One Central Park and Parklane projects in Sydney, which were completed in 2014, tapered off.
FPA’s lower revenue and PBIT in 1Q FY14/15 was also due to the absence of a one-off gain from the sale of an undeveloped site in the previous corresponding quarter. 
</body></html>

Frasers Australand provides strong profit for Frasers Centrepoint

<html><body>
GUEST OBSERVATION
Prime Minister Tony Abbott <a href="https://www.pm.gov.au/media/2015-02-11/government-tightens-rules-foreign-purchases-agricultural-land" target="_blank">has announced</a> long-promised changes to the rules for foreign land purchases and ownership in Australia.
There are two key changes. First, the Foreign Investment Review Board (FIRB) threshold will be reduced from A$252 million to A$15 million and be applied to cumulative purchases. Second, the Australian Taxation Office (ATO) will be tasked with creating a “stocktake” of foreign-owned agricultural land, which may lead to a national register.
Media reports of last week’s announcement have largely focused on the merits of lowering the FIRB’s screening threshold. But the foreign-owned land stocktake and register should be equally scrutinised.
Spearheaded by high-profile land (and water) sales to non-Australians, such as <a href="https://www.propertyobserver.com.au/https://www.abc.net.au/news/2012-10-12/sale-of-cubbie-station-confirmed/4310256" target="_blank">Cubbie Station</a>, the issue of foreign investment in agriculture has generated much discussion in recent years. Central to this sensitive issue is that no one knows exactly how much agricultural land foreign companies and governments own. And while there is uncertainty, the public debate seems locked to a dualism between “we are selling the family farm” and “overseas capital can only benefit agriculture”.
<a href="https://theconversation.com/lost-in-the-paddock-australia-flying-blind-on-farm-ownership-23836" target="_blank">Last year,</a> my colleague and I called for better national data sets that clearly document who owns agricultural land and at what rate it is changing hands. A land register documenting foreign ownership of agricultural land would likely address this data deficiency, but only partially.
Details of what the ATO will produce are yet to be delivered. But, it seems the ATO will start to record new foreign land purchases from 1 July 2015 (irrespective of value). This may then be matched with the development of a national foreign-owned land register that draws on the land titles registers kept by state and territory governments.
It’s not just about land
So far, media reports indicate the register will be focused on land. But what about investment in agricultural businesses separate from direct investment in land? In the most recent <a href="https://www.abs.gov.au/AUSSTATS/abs@.nsf/allprimarymainfeatures/32E9BB779DABA3C1CA257905001453BC?opendocument" target="_blank">Agricultural Land and Water Ownership survey</a>, the Australian Bureau of Statistics reported that almost 90% of farmland was fully Australian owned and just under 99% of farm businesses were fully Australian owned.
Although that survey was <a href="https://parlinfo.aph.gov.au/parlInfo/search/display/display.w3p;query=Id%3A%22committees%2Fcommsen%2Ff49f61d7-23de-4f6f-b807-735c752ebcfa%2F0002%22" target="_blank">widely criticised</a>, the distinction remains important if efforts to document foreign land ownership are to prove as useful as possible. This is because although land ownership and the ownership of farm operations may or may not align, each is shaped by the other.
So, a register of foreign-owned land addresses only part of the huge data deficiencies related to foreign investment in the Australian farming sector. Despite the difficulties of untangling business structures, the ATO is perhaps best placed to align data collection and reporting on foreign ownership of both agricultural businesses and land.
What about water?
Australia’s water market and the legal separation of land and water titles further complicate the issue. It’s unclear whether a comparable register for foreign water ownership will be part of the ATO’s mandate.
Questions about who owns water access rights and at what rate they are changing hands are equally – or perhaps more – significant. This is especially in light of the Australian Bureau of Statistics’ results that showed agricultural water entitlements with some degree of foreign ownership increased by <a href="https://www.abs.gov.au/AUSSTATS/abs@.nsf/allprimarymainfeatures/32E9BB779DABA3C1CA257905001453BC?opendocument" target="_blank">55% between 2010 and 2013</a>. In contrast, Australian land with some degree of foreign ownership remained largely unchanged.
Like land, the state and territory governments manage their water registers, so similar integration between the state/territory systems and any national register would be required.
It’s time to broaden the debate
The debate about foreign ownership of agricultural land and the means used to document it need to be broadened.
Whether it’s ownership of land, water or agricultural businesses, non-Australian sources of capital are only part of the picture. The foreign ownership debate needs to evolve to – or be merged with – a broader debate about the future of the agricultural sector.
Too often the future of agriculture is reduced to a binary logic of <a href="https://theconversation.com/who-will-be-the-next-round-of-investors-in-australian-farming-23773" target="_blank">family farmers and corporate farms</a>. However, the reality is there are many different ways to organise agricultural business and production.
Foreign investment is only one of the drivers of change. Australian institutional investment or private equity partnerships and their relationships with land and water ownership are also shaping the agricultural sector and rural communities. How these alternative business models may be changing will slip through the gaps of any land register focused exclusively on foreign ownership.
More data will not resolve the issue of foreign ownership. It also won’t magically set the future direction of agriculture. But, good data sets that capture the full spectrum of agricultural business and asset ownership models can better inform these debates.
If the ATO stocktake of foreign-owned land becomes a formal register, the prime minister’s announcement is a positive step. But it doesn’t go far enough. It’s time to move beyond the foreign- versus Australian-owned dichotomy. Expanding a national foreign-owned land register to include other agricultural assets and ownership changes among domestic investors will enable more informed discussion on what Australians really value about economic development, land and water resources and food production.
<img src="https://counter.theconversation.edu.au/content/37517/count.gif" alt="The Conversation" width="1" height="1">Erin Smith is post-doctoral research fellow at University of the Sunshine Coast.
This article was originally published on <a href="https://theconversation.com">The Conversation</a>.
</body></html>

Latest Investing Insights

Safari Group offers low-touch investment proposition in Queenstown’s popular ski fields district

Editor's Picks

Developments

New apartments

New townhouses

News

Latest Investing Insights

Safari Group offers low-touch investment proposition in Queenstown’s popular ski fields district

Editor's Picks

Receive the latest news stories to your inbox

Developments

New apartments

New townhouses

News