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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Architecture group Rothelowman are expanding their services across the east coast, opening new offices in Sydney.
The group specialises in highrise developments and are hoping to tap into a new market after the recent multi-residential boom in New South Wales and ACT.
Three years ago they opened offices in Queensland after the state's extended property slump. The Brisbane offices make upwards of 25% of the practice's income.
Last year RotheLowman designed 10,000 apartments in Melbourne. Managing principal Kim Lowman believes Sydney is primed to take on just as much development.
“Sydney is undergoing a development boom similar to the one experienced in Melbourne during the last five to 10 years,” says Lowman. 
Lowman anticipates Sydney offices will produce 30% to 40% of the firm’s revenue in less than three years. He predicts a sharp growth in Sydney’s property development after a recent slow period. Factors such as a prolonged post-Olympics and post-global financial crisis property slump “have led to pent-up demand for multi-residential development in Sydney.”
According to the Housing Industry Association, New South Wales building approvals for units in four plus storey buildings are currently at an historic high, despite a 36% drop in the September 2014 quarter. 
Rothelowman were granted approval of a $30 million dollar mixed-use, multi-residential development in Burwood and expect several other New South Wales projects to be approved in the coming months.
Newly appointed principal of Rothelowman in New South Wales and the ACT Ben Pomroy says the long-term trend of housing construction delivery of 18,000 dwellings per annum in New South Wales is consistently falling short of baseline demand of 22,000 to 25,000 dwellings per annum.
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owisniewski-RiYLqnXfKH

Rothelowman expand to Sydney

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Sydney’s newest laneway retail precinct, Kensington Street, has been launched on the eastern boundary of the $2 billion masterplanned Central Park project in Chippendale.
Kensington Street by Greencliff is seeking 26 tenancies, including 14 food and beverage and 12 specialty retail, comprising 3,000 square metres of gross floor area spanning 160 metres of direct street frontage in the heritage-conversion lane way precinct.
Part of the precinct includes the Unlisted Collection’s boutique hotel, The Old Clare, which has secured top UK chef, Jason Atherton (Pollen Street Social, Equina) to head up a line-up including Clayton Wells (Momofuko Seiobo) and Sam Miller (Noma).
Greencliff executive director, in charge of leasing, Marcus Chang says it presents a rare opportunity to showcase talents.
“Greencliff are in the midst of carefully curating a melting pot of some of the edgiest and highly acclaimed talents in the world,” said Chang. 
“Tenancies range from intimate and affordable 25sqm spaces which offer really cool unique opportunities for someone like a barista, chic pastry chef or even a cocktail bar – to spaces within soaring warehouses with graffiti on the walls, exposed beams and hundreds of years of history etched in every crevice," he said.
"This is inner-city retail gold dust.”
<img src="/images/2014/11/26/kensington-nov-26-two.jpg" alt="">
The community of Central Park is already 2,000 plus residents now living at the precinct with a further 3,000 set to move into the precinct by 2015.
The Greencliff CEO Dr Stanley Quek said that the concept was developed as a major drawcard for innovative and ambitious retailers looking to contribute to the newest vibrant ‘eat street’ in the heart of Sydney’s new downtown.
“Visitors will be reminded of the streets of Brooklyn in New York, Abbot Kinney Boulevard in Venice Beach, LA or Brick Lane in East London. It will be quite unlike any pedestrian laneway precinct currently in Australia,” he said.
The Kensington Street precinct is expected to be open in early 2015.  
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jchancellor-FAypfDUnLy

Kensington Street, Chippendale seeking edgiest retail tenants

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GUEST OBSERVATION
The property funds management industry for individual investors has undergone significant change over the past six years as a result of corporate activity and restructuring. Stability and continuity of sound management is an attribute sought by all investors and alignment of interest.
Table one, below, shows the ranking of the five syndicate and unlisted property trust managers with largest funds under management in 2008, 2011 and 2014.  It shows a total change from 2008 to 2014.
Table one - Ranking of Property Syndicate and Unlisted Retail Fund managers (click to open in new window)
<img src="/images/2014/11/26/atchison-nov-26-one.png" alt="">
Source: PIR
In addition to changes in the list of largest managers the emergence of new managers has been a feature of the industry.  This has been driven in part by regulatory changes and by departure of smaller managers thorough poor business management.
Basle III requirements have encouraged the exit by banks from property investment management.
Demands by superannuation regulators for liquidity have hampered the offering of property funds by major platforms.
Inability by owners and managers in arranging recapitalisation of funds and businesses has prompted total departure of some managers.
Many investors prefer unlisted funds over listed REITs. Investors in unlisted property have included high net worth individuals, family offices, SMSFs, dealer group syndicates and individual investors.  Significant investment visa applicants are also participating in this sector.
Offerings of property funds or syndicates in 2014 have been made by 15 different investment managers including the large managers in table one and many new managers.
When assessing new property investment products, sustainability of the investment management business has become a more significant factor.  Alignment of interest between investors and managers are sought.  Real estate attributes, performance prospects and level and structure of fees remain significant.
Ken Atchison is managing director of <a href="https://atchison.com.au/" target="_blank">Atchison Consultants</a>.
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katchison-p6oi8fSFSF

How new property fund managers are changing the industry

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The Victorian Greens are the only party that have committed to a review of the retirement housing sector in the next political term.
Ahead of this weekend's state election, the Consumer Action Law Centre has been lobbying political parties to commit to a review of the Retirement Villages Act 2010 and retirement housing sector more generally.
According to the Consumer Action Law Centre, the major parties are yet to promise any reform or review of retirement housing policy. Neither Victorian Labor nor Liberal have advertised any policies regarding retirement housing ahead of the election.
The Greens, however, have promised to launch a parliamentary inquiry into the housing retirement sector and act on subsequent recommendations.
They claim their actions will "ensure older people are not ripped off".
"The Greens will act on the recommendations of the inquiry to reform retirement housing legislation to ensure it reflects the diversity of retirement housing types and includes proper consumer protections, dispute resolution procedures, fair pricing, and consistent, simplified management standards and regulations across the sector", states the <a href="https://greens.org.au/vic" target="_blank">Victorian Greens website</a>.
The Consumer Action Law Centre claims current retirement housing practices include "overly complex contract terms and unfair fee structures".
Denise Boyd, director of Policy and Campaigns at Consumer Action, said: "We've heard from residents who'd chosen certain retirement accommodation because it offered stability for their later years. But, in fact, many contracts include deferred management fees of up to 40% of the total cost. Hiding the cost of accommodation in high fees to be paid upon departure is unfair – these costs can surprise family members or limit aged care options when leaving the retirement accommodation."
She also said the centre has seen contracts requiring residents to pay for capital improvements when they leave their rented retirement accommodation.
"Refreshing the properties is reasonable, but this is being used by village owners to charge departing residents upwards of $50,000 for entirely new kitchens and bathrooms," said Boyd.
"These are capital works, not refurbishment, and should be paid for by the owners, not residents."
According to Boyd, personal briefings with Liberal and Labor Party members did not result in any commitments to improve the sector after the election.
"This issue affects thousands of Victorian voters and we'd hoped all parties would make clear statements of intent to sort out this unacceptable and unfair situation," she said.
 
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jrichardson-uRX5hFdKfN

Victorian Greens commit to retirement housing review ahead of state election

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Tasmania and Western Australia dominate <a href="https://www.sqmresearch.com.au/" target="_blank">SQM Research</a>'s list of the most discounted homes in the country.
Despite price cuts of up to 40% and months (for some, years) on the market, buyers just won't bite.
SQM Research's top 10 discounted homes:
<a href="https://www.realestate.com.au/property-house-tas-wattle+grove-116035107" target="_blank"><img src="/images/2014/07/04/yellow-one.jpg" alt="" style="float: left;">78 Walters Road, Wattle Grove, Tasmania</a>
 <img src="/images/2014/11/26/1.jpg" alt="">
Vendors have cut the price guide for this property by 40%, making it the most discounted home in the country. There is a three bedroom, two bathroom house on the 10 acres, along with a separate two bedroom cottage.
Set over two titles, the Wattle Grove property was initially listed for $1.15 million, but now comes with a $685,000 price guidance after 279 days on the market.
<a href="https://www.domain.com.au/property/for-sale/rural/nsw/leppington/?adid=2011255071" target="_blank"><img src="/images/2014/07/04/yellow-two.jpg" alt="" style="float: left;">61 Woolgen Park Road, Leppington, New South Wales</a>
 <img src="/images/2014/11/26/2.jpg" alt="">
The price of this 5.24 acre block has been cut from $1.55 million to $950,000, a 39% discount. Running parallel to Camden Valley Why, the property has a two bedroom cottage, currently rented for $300 per week by a horse owner. If the home eventually sells for its $950,000, the current rent would reflect a 1.6% yield.
It has been on the market for 148 days.
<a href="https://www.realestateview.com.au/Real-Estate/28a-malsbury-street-bicton/Property-Details-buy-residential-7962768" target="_blank"><img src="/images/2014/07/04/yellow-three.jpg" alt="" style="float: left;">28a Malsbury Street, Bicton, Western Australia</a>
<img src="/images/2014/11/26/image3.jpg" alt=""> 
A two bedroom, one bathroom strata unit is on the market for $950,000, after a 37% price cut. The home celebrates its first anniversary on the market today –one year ago, it was listed at $1.5 million.
The vacant property is currently listed for rent at $480 per week. If tenanted and sold at its current advertised price, it would return a 2.6% yield.
<a href="https://www.realestate.com.au/property-house-tas-battery+point-108230936" target="_blank"><img src="/images/2014/07/04/yellow-four.jpg" alt="" style="float: left;">1/23 Albuera Street, Battery Point, Tasmania</a>
<img src="/images/2014/07/09/6.jpg" alt="">
This luxury renovated apartment in Hobart is situated in the former Albuera Art School.
Vendors are seeking offers over $1,400,000. Its price has been cut by 36% – when it was first listed on the market, more than three years ago, it was listed for $2.2 million. The property has three double bedrooms, with polished timber floors throughout and pressed metal ceilings.
<a href="https://www.realestateview.com.au/Real-Estate/2-wellington-street-richmond/Property-Details-buy-residential-6093682" target="_blank"><img src="/images/2014/07/04/yellow-five.jpg" alt="" style="float: left;">2 Wellington Street, Richmond, Tasmania</a>
<img src="/images/2014/07/09/2.jpg" alt="">
Vendors lopped a cool million off the asking price of this Tasmanian heritage property. It was originally listed at $2.8 million, with its price cut by 36% after 391 days on the market.
The historic property has a four bedroom, four bathroom main residence, with a formal living and dining area, sunroom and cellar.
There is also a self-contained cottage on the property, and vendors will consider selling the adjoining plot.
 
<hr class="system-pagebreak">
<a href="https://www.realestate.com.au/property-house-sa-strathalbyn-107584093" target="_blank"><img src="/images/2014/07/04/yellow-six.jpg" alt="" style="float: left;">21 Cotton Court, Strathalbyn, South Australia</a>
<img src="/images/2014/04/30/strathalbyn.jpg">
This Strathalbyn home has seen a price cut of 35%. It was initially listed at $498,000, and currently has a $325,000 price guide. The house was listed 1198 days ago, making it the longest-listed house in the top 10.
The vendors purchased the c1900s house for $118,000 in 1995.
<a href="https://www.realestate.com.au/property-unit-wa-cottesloe-113421415" target="_blank"><img src="/images/2014/07/04/yellow-seven.jpg" alt="" style="float: left;">4/134 Marine Parade, Cottesloe, Western Australia</a>
<img src="/images/2014/11/26/cottesloe.jpg" alt="">
A three level home in Cottesloe has been on the market for 596 days – a bit over a year and a half. Its price has seen a 35% cut, from $2.75 million to $1.8 million.
The three bedroom, three bathroom unit has panoramic ocean views from its balcony.
<a href="https://www.realestateview.com.au/Real-Estate/76-tinderry-road-michelago/Property-Details-buy-residential-3186525" target="_blank"><img src="/images/2014/07/04/yellow-eight.jpg" alt="" style="float: left;">76 Tinderry Road, Michelago, New South Wales</a>
<img src="/images/2014/07/09/4.jpg" alt="">
This 710 hectare property was first listed in October 2011 at $1.9 million. Since then, its price has dropped by 34% to $1.25 million.
The original 1925-era home still stands on the rural property and requires significant renovations. Permanent water is supplied by the Michelago creek, with two dams on the land.
<a href="https://www.realestate.com.au/property-house-sa-belair-116283343" target="_blank"><img src="/images/2014/07/04/yellow-nine.jpg" alt="" style="float: left;">40 Hawker Avenue, Belair, South Australia</a>
<img src="/images/2014/11/26/belair.jpg" alt="">
This contemporary home was originally advertised at $1.69 million in March this year. Its price has since dropped by 32%, and the home is now listed at $1.69 - $1.79 million.
The house has re-entered the market due to a contract that fell through. It has four bedrooms, three living spaces, a 15 metre lap pool and a triple car garage.
<a href="https://www.realestateview.com.au/Real-Estate/2-stockdale-road-kewdale/Property-Details-buy-residential-7820108" target="_blank"><img src="/images/2014/07/04/yellow-ten.jpg" alt="" style="float: left;">2 Stockdale Road, Kewdale, Western Australia</a>
<img src="/images/2014/11/26/stockdale.jpg" alt="">
The third West Australian home on the top 10 list was originally put on the market three months ago. Since then, the price guidance on the three bedroom house has dropped 31%, from $870,000 to $600,000. It is set on a 685 square metre block.
The listing information, which says the price is "reduced for quick sale", notes the City of Belmont has indicated it will consider selling the adjoining 200 square metre plot.
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The 10 most heavily discounted homes in Australia

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With Victorians heading to the ballot box this Saturday, the Coalition has pledged to bring in new laws to stop underquoting. But the plans have polarised many in the real estate industry.
The legislation would be introduced to Parliament next year if the government is re-elected.
The proposed legislation would move to ensure that the reserve price would be within the advertised range, make it mandatory to advertise houses with a listed price or price range and make it compulsory to include a reserve price when signing a sales authority with an agent.
Under the proposal, a reserve price could be changed up to three days prior to the auction and any change to the reserve price would need to be reflected in advertising for the property.
Agents that failed to adhere to the rules would face fines up to $29,000.
“The Australian dream is to own your own home, but over recent years underquoting has become a routine part of Victoria’s real estate market, leading to bitter disappointments for people searching for their own home,” said the Coalition’s plan.
Labor says that rather than introducing new legislation, existing laws that prohibit underquoting need to be properly enforced.
The Real Estate Institute of Victoria have <a href="/expert-insights/investing/victorian-election-real-estate-dramas-underquoting-and-election-stunts">not been positive about the announcement, calling it an “election stunt”</a>.
The REIV’s Enzo Raimondo said that, given the fine for underquoting is $29,522 at present and one of the initiatives is to impose a $29,000 fine for underquoting, he isn’t sure “what this government is playing”.
"My experience with the Napthine government is they don't do that, they work in blissful isolation of the industry ... and this is just an election stunt because everything regarding underquoting is already in place," Raimondo said.
SQM Research’s Louis Christopher is one who has vocalised his support for the plan.
"This is a positive development but the Victorian Liberal party, and I welcome this election promise. Let's hope they stay committed to this promise and they are not scared off by the protests of the REIV, who are unashamedly against this reform,” said Christopher.
The Victorian Coalition’s proposed crackdown has prompted Christopher to invite other <a href="https://www.change.org/p/the-honourable-matthew-mason-cox-mlc-nsw-government-make-it-compulsory-to-advertise-auction-reserve-prices-to-stamp-out-underquoting-and-dummy-bidding" target="_blank">supporters of ending underquoting in New South Wales to sign an online petition</a>.
In Queensland, laws to ban auction price guides in a bid to stamp out underquoting are set to come into force on 1 December.
Real estate expert <a href="/news/qld/dark-ages-descending-on-queensland-as-auction-price-guide-ban-defies-common-sense-john-mcgrath">John McGrath has called the Queensland price guide bans a move that could take the industry “back 50 years”</a>. However, the Real Estate Institute of Queensland has been in strong support for the changes.
 
 
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jduke-EHk3XBmHkn

Victorian Coalition's planned underquoting crackdown stirs industry debate

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We are all living longer and that fact alone is having a big impact on the housing market as the population grows and ages.
However, it is the baby boomers that right now are shaping many areas of the housing market. As life expectancy among the boomers continues to rise, a more complex housing market is evolving.
There has been a 100% increase in the numbers of people living beyond 55 plus and a 150% increase in the numbers of people aged 75 plus. At the same time as the baby boomers age, their health has improved, and a longer life span is leading to pressures on aged welfare payments and health care costs. There are also longer term pressures building on how superannuation savings are managed and invested and how public pensions are funded.
As a result the traditional idea of retirement and retirement housing has shifted and continues to do so with some very dramatic consequences for the housing market.
Where and how the baby boomers live in retirement looks nothing like the retirement plans and hopes of their parents. The idea of moving to a sleepy coastal town, or traditional retirement village is being replaced with an appetite for lifestyles as diverse as living on a luxury liner (for the lucky few) or the more accessible idea of moving to a lifestyle resort with apartments and villas clustered around a golf course and access to a cinema, resort style pool and other amenities.
A key idea driving retirement living is the desire to stay connected. As people live longer and stay in good health they want to stay connected to family, the kids, the grand kids and lifelong friends, the idea of moving away from all of these connections has no appeal. Those living in retirement, or soon to retire, are no longer heading towards accommodation in clusters, they are aging in place and that means possibly staying longer in the current family home in metro, regional and country locations.
Existing homes are being renovated in greater numbers to accommodate their needs, by for example improving access to bathroom facilities and by reorganising accommodation so that stairs are eliminated.
Of course some people do move house, either trading up or down the price ladder and many new homes now feature a ground floor bedroom and bathroom. There’s also a continued trend towards boomers moving into CBD apartments, or apartments that a very well connected to local facilities. Sydney’s Double Bay and Bondi Junction are just two areas where this trend is evident. It’s all a part of being connected to the community and people's health care is also better managed when they are close to established medical facilities, a point not wasted on federal and state Treasurers.
More Flexibility Requires More Income
Recent federal budgets have started to directly address retirement issues, the retirement age is being increased, yes we are living longer, but we are also working longer by choice and by necessity.
As part of the housing equation income planning is now a central concern, people want to have more control when they retire and this is leading to a greater trend towards semi-retirement, with more lifestyle flexibility. By moving into retirement slowly, people are able to retain the family home longer, or plan their move to say a new apartment project, in an orderly fashion and possibly over a number of years. This is often an appealing solution for those who are asset rich, but cash poor.
If people do not want to sell their homes and move to fund part of their retirement income, staying local looks to be a long-term trend. Staying connected also means more boomers are looking for flexibility in their housing options and moving to semi-retirement may well have the impact of delaying the possible turnover of some existing housing stock. However it appears that it is quality of life that will drive retirement housing options. It is interesting to note that it’s the more highly paid who work longer and those that retire early usually do so not for financial reasons, but for health reasons as their ability to work is diminished.
Somehow that retirement cottage on the beach has lost its appeal, while a CBD apartment gains appeal and boomers weigh up how best to fund their future lifestyle and housing needs.
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How Baby Boomers retirement plans are impacting the housing market

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GUEST OBSERVATION
The recent <a href="/expert-insights/investing/pie-face-bakery-chain-collapses-into-administration">voluntary administration of Pie Face</a> has highlighted the uncertainty faced by franchisees if their franchisor goes into administration.
Here are 10 key risks to franchisees of insolvent systems:
1. The risk of little useful information
Many insolvency practitioners do not understand franchising and the nature of the franchise relationship.
Administrators will apply considerable effort to keep staff and creditors informed during an insolvency – the first to ensure they keep the business operating or provide access to records while the administrators sort out the business’ position, and the second to ensure continuity of key supplies. However, franchisees are generally given the bare minimum of information.
Because staff and suppliers are recognised as creditors, they are usually better-informed than franchisees, who may be circulated a form letter when the business is placed in administration, and then hear no further meaningful information until a sale or winding-up announcement is made. Franchisees of insolvent chains often learn more from the media about the future of their livelihoods than they do from the administrators.
2. Loss of consumer confidence
In previous franchise insolvencies such as that of book retailer Angus &amp; Robertson in 2011 and whitegoods retailer Kleenmaid in 2009, the loss of consumer confidence when the businesses went into administration was so great that it accelerated the final collapse.
Angus &amp; Robertson customers were outraged when administrators announced that gift vouchers (many of which were given as Christmas presents only a couple of months earlier) would no longer be honoured, prompting a consumer backlash. During this highly damaging PR, the remaining company-owned and franchised stores were expected to trade on as usual.
When Kleenmaid went under, its franchised and company-owned stores were besieged by angry customers trying to claim the goods for which they had collectively paid more than $25 million in deposits. In rare cases, some were able to buy their goods all over again in liquidation sales to ensure that their newly-built or renovated kitchens or laundries could be completed without further modifications, but many swore they would never buy Kleenmaid again, and actively campaigned against the brand in revenge.
3. Disruption to supply chains
Some franchise systems have preferred supplier arrangements, and others are the primary supplier to their franchisees themselves.
A manufacturer may supply its retail network of company-owned and franchised stores with the majority of their product lines. If the manufacturing facilities are scaled-back, closed or sold separately from the retail network, then a significant risk of disruption to normal supplies exists. A new buyer of the group could decide to close the factory and outsource manufacturing altogether, in which case it is likely that teething problems with a new set of arrangements could also result in supply issues for franchisees.
While it is possible for a franchisee to continue to operate when a franchisor goes bust in networks that have preferred supplier arrangements, the franchisee might find that creditors will become more risk averse and tighten their credit terms, insist on cash up front, or otherwise cap franchisee purchases to a low limit to reduce future risk.
4. Stock dumping
Franchisees of fashion accessory chain Kleins, which collapsed in 2008, found themselves selling goods at cost or below as the administrator sought to liquidate inventory held by the franchisor that could not be returned to suppliers.
In any group where the franchisor has embedded itself into the supply chain and provides inventory to the franchisees, there is the risk that administrators will seek to liquidate inventory as quickly as possible through the network to generate cash, and this may be done at the expense of franchisee margins or in breach of the brand’s established price positioning.
Either way, this can be damaging to a franchisee’s business.
5. Diminished franchisor support
Administrators will question all costs in a business, particularly labour costs. Franchisor head office staff who survived the franchisor’s descent into administration may still be made redundant by the administrators in an attempt to restore profitability and improve the saleability of the business as a going concern, but in doing so often reduce the very resources for which franchisees pay royalties.
Consequently, franchisees of an insolvent system might find that their field support officer has been let go, or now has two or three times more franchisees to support as his colleagues have left.
A reduction in field support is likely to occur concurrently with a reduction in marketing personnel and other head office functions that directly or indirectly provided support, meaning that franchisees will be left more and more to their own devices, and while some may see this as a good thing, it further exacerbates damage to the brand (and therefore, network value) as inconsistencies develop in the group.
At its worst, this could lead to open revolt by franchisees, as happened with Angus &amp; Robertson in 2011 when nearly half the franchisees sought to leave the group en masse while it was under administration.
This article continues on the next page. Please click below.
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6. Pursuit of outstanding royalties
Administrators have no capacity to offset debts owed by an insolvent franchisor to its franchisees, against the royalties owed by the franchisees.
In other words, franchisees have to claim their debt owed by the franchisor like any other creditor, and end up with whatever cents in the dollar might be paid at some future point, but in the meantime must pay 100% of all outstanding royalties to the administrators on demand without argument.
If franchisors have allowed franchisees to fall behind in their royalty payments, administrators will ditch such arrangements and demand full payment immediately as they scrape together cash to keep the business afloat. Unfortunately, this can result in considerable financial pain to any franchisees who owe royalties, and whose business may also be struggling (the reason why they fell behind in their royalties in the first place).
7. Disclaiming of leases or other agreements
When Kleins was placed into voluntary administration in 2008, it was subsequently revealed that the franchisor held the leases on all the stores in the network, including the franchised outlets. Franchisees would then sub-lease the stores from the franchisor, to whom they would pay rent, and then the franchisor in turn would pay rent to the landlord (many of which were major shopping centres).
However, under this arrangement, the rents paid by the franchisees to Kleins were not being passed to the landlords, and the store rents fell behind.
When the administrators took control of the business, they exercised their unique power to disclaim (i.e. terminate) the leases, to reduce their ongoing liabilities in operating the business. The unfortunate byproduct of this action was that the franchisees in terminated outlets were suddenly left with two choices: close the shop and wear the losses caused by the premature ending of their business, or negotiate new leases directly with the landlords and attempt to continue trading.
Many chose to negotiate new leases with the landlords, but found this to be a double-whammy.
In some cases their rent increased because they were now independent operators, and no longer part of a national chain. In all cases, the franchisee would have had to find the cash to lodge the usual rental guarantee (up to three months rent in advance), plus invest in new signage and fitouts, etc, to trade as independents, while at the same time writing-off as unrecoverable large sums of money owed to them by the franchisor under Kleins’ unique income guarantee.
Administrators can and will disclaim leases and other commercial agreements if they feel it is in the best interests of the insolvent entity, even if it is not in the best interests of the franchisees.
However, the reverse does not apply to franchisees, who usually have no rights to terminate their franchise agreements even if their franchisor is in administration.
8. Loss of business value
It goes without saying that any franchisee who might have been planning to sell their business before their franchisor goes into administration will subsequently find it almost impossible to complete a sale until the system recovers from this emergency.
Such a recovery, if one is possible at all, could take years.
Even if the system does recover, a franchisee’s business in future may be worth less than it would have been prior to the administration. This loss of business value can cause major problems for franchisees who are heavily geared and may ultimately sell at a loss, or who planned to fund their retirement using the proceeds from the sale of their business, which may now be insufficient.
Unless franchisees themselves are creditors (which is rare), this loss of franchisee business value, or the imperative to maintain franchisee business value, is incidental to administrators whose sole focus is to maximise the returns to creditors.
9. Significant ongoing personal liabilities
If a franchisor collapses, franchisees may be left without a business to trade if their supply of unique products ceases to exist.
Because Kleenmaid stores sold only Kleenmaid products, when these were no longer available following the collapse of the franchisor, the stores could not switch suppliers and continue to trade.
If this occurs, franchisees may have no choice but to close their stores, while continuing to pay the significant ongoing costs of shop leases, business loan repayments, and chattel mortgages for shop fit outs, fixtures and fittings. These ongoing liabilities can be a blight that weighs down a franchisee long after the collapse of their franchisor.
10. Radicalisation of corporate culture
If a buyer is found for an insolvent franchisor, the new owner will inevitably want to put their own stamp on the business and make changes to ensure its ongoing survival.
The nature of the buyer, and the changes they will seek to implement, might clash with franchisees and appear at odds with the corporate culture under the former owners. For many franchisees, a change of ownership will require them to adapt to new management and new ways of doing things. These changes can be relatively minor, incremental and easily adaptable, or can be major, radical and disruptive to the organisational culture and brand values.
Conclusion
This is not an exhaustive list, but should give pause for thought to any existing franchisee concerned about the future of their network, any potential franchisee who needs to asses the risks of what might happen in a worst-case scenario, and any insolvency practitioner who might one day find themselves managing a franchise network in administration.
Most importantly, this list should also serve as a reminder to franchisors that an inability to adapt to a changing market and poor management has consequences for those around them, especially their franchisees.
Jason Gehrke is the director of the <a href="https://www.franchiseadvice.com.au/" target="_blank">Franchise Advisory Centre </a>and has been involved in franchising for 20 years at franchisee, franchisor and advisor level.
This article first appeared on <a href="https://www.smartcompany.com.au/" target="_blank">SmartCompany</a>.
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10 risks to franchisees when companies go bust

Victorian election real estate dramas: Underquoting and "election stunts"

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Most property investors only own one property and fall into the category of middle class, according to Ed Chan, the founder of Chan &amp; Naylor Property Accountants.
"They certainly are not considered 'rich'," he said.
"In fact they should be applauded for the sacrifice to their lifestyle (due to the shortfall created by negative gearing) as they attempt to invest for their future and in so doing, reducing the government's burden in providing them an old age pension when they retire."
Chan said these investors saved the government billions of dollars by not having to provide public housing for those unable to buy their own homes currently. 
Supply is a very important factor as successive governments have not provided the policies to generate more supply in past years, said Chan.
"You may recall that the Keating government attempted to remove negative gearing in the eighties but reversed their decision when the queues for public housing doubled."
"Whilst taxpayers have claimed a total of $13 billion in losses in their tax returns the actual revenue forgone by the government is calculated at their individual tax rates. 
"Thus at an average tax rate of 35% the lost revenue is only $4.5 billion.
"So the government has not lost $13 billion dollars by allowing negative gearing but rather $4.5 billion is the actual dollars forgone.
"Public housing provided by the government only accounts for around 4% of investment properties.
"The other 96% of housing is provided by the private investor," he argued.
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