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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The growing issue of affordability has seen former Prime Minister Paul Keating weigh in with his thoughts at MaxCap Group’s Developers and Dealers Forum last week, saying that the current situation cannot persist.
Keating said that there is a huge need for increased housing supply and a financing system to support developers in bringing those properties to fruition.
“We cannot persist with this position we are in where our children cannot afford to house themselves,” Keating said.
“No amount of demand is going to improve affordability without a supply response, which will determine a price equilibrium over time,” he noted.
In fact, the financing for the supply may just be the evolution of superannuation funds, the assets of which may at some point outshine those of the banks. He said that they could eventually be used to fund developments.
“Superannuation funds will have to do things in the spaces traditionally left to banks, such as property development, and we will see a shift in the balance in financing this industry,” he said.
Meanwhile, the banks suggested future partnerships with offshore banks, with specific reference to the Asia Pacific region.
Colin Robertshaw, the Commonwealth Bank of Australia's national head of property finance, business and private banking, said Chinese banks may be the alternative needed when banks hit full capacity.
MaxCap Group chief investment officer Brae Sokolski, said one thing was for certain: something will need to be done.
“There is no doubt that the traditional one-size-fits-all approach to finance is not the optimal solution in the current development environment and has in fact resulted in a shift towards utilising specialist consultants that can bridge the gap between development and finance,” said Sokolski.
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Paul Keating says current housing situation cannot be allowed to persist

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For the first time since July 2011, CommSec’s quarterly economic ranking of the states and territories has shown New South Wales lead the pack.
The ranking takes into account economic growth, retail spending, equipment investment, unemployment, construction work, population growth, housing finance and commencements.
Closely following New South Wales is Western Australia, which has fallen from top spot, and the Northern Territory.
Here’s the ranking:
<ol>
<li>New South Wales 
</li>
<li>Western Australia 
</li>
<li>Northern Territory 
</li>
<li>Victoria 
</li>
<li>Queensland 
</li>
<li>South Australia 
</li>
<li>ACT 
</li>
<li>Tasmania</li>
</ol>
New South Wales recorded top rankings for population growth and dwelling starts, while it scored second for retail trade, business investment and unemployment, third on housing finance and fourth on overall construction work and economic growth.
Western Australia, while still ranking strongly, lost on retail trade, equipment investment and population growth as the mining boom fades. Housing finance, however, was strongest in the state.
While the Northern Territory ranked third, it is the top on five of the indicators, but third on dwelling starts, and even further down the list for population growth and housing finance.
Victoria and Queensland ranked very closely.
In Western Australia, Victoria, New South Wales and the ACT trend housing finance commitments were recorded as above decade averages.
CommSec’s report notes that the simple reason for New South Wales being propelled to the top of the ranks is “housing”. It suggests the state is playing catch up after years of underbuilding, with demand exceeding supply and pushing the vacancy rate down to record lows. In Western Australia, housing was noted to be the crucial ingredient, along with construction, to sustain the economy.
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New South Wales leads the pack: Where the states and territories’ economies rank

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Time for an abridged gallop to sum up what's going on in Aussie housing markets.
Interest rates and inflation
First up, I have believed for some time that due to rising unemployment and inadequate jobs growth interest rates may need to fall further, which will in turn continue to support demand for housing. A recent Bloomberg survey of economists found that not a single one of them agreed with me on that point, however slowly but surely they are falling back into line.
Wages growth nationally remains sluggish at 2.6%, and, with evident slack in the labour market, non-tradables inflation has been declining as recorded in the chart below.
Although we haven't had an official Australian Bureau of Statistics (ABS) inflation reading since last month, the monthly TD-MI gauge is easing back towards the bottom of the 2% to 3% target band.
<img src="/images/2014/10/20/GRAPH14br-tradeinf-small.gif" alt="">
If this is followed by something similar in the official quarterly consumer price index that would leave the door wide open for another interest rate cut in 2015.
Note how futures markets now concur that there is more than a sporting chance of a rate cut in the first six months of 2015, and effectively zero chance of a hike.
<img src="/images/2014/10/20/GRAPH2.gif" alt="">
Demand: population growth
Our analysis of the latest quarter's population growth revealed our expected rotation away from the mining states with population growth slowing significantly in Queensland and Western Australia, but exploding higher in financials and services-focused New South Wales to nearly +115,000 over the year. And how:
<img src="/images/2014/10/20/GRAPH3.jpg" alt="">
The long term trend in our chart below continues to show that almost all of the material growth in population takes place in only the four main states.
One of several challenges facing South Australia in particular is a brain drain, a demographic scourge involving the best and brightest heading to Sydney and Melbourne which becomes evident through analysis of the net migration sub-indices.
To date, this net interstate migration from South Australia has been countered by net overseas immigration. But this will only work effectively and sustainably for the state if new jobs are created, which has not been happening for the past half decade, hence rising levels of unemployment. Something needs to change in this regard.
<img src="/images/2014/10/20/GRAPH4.jpg" alt="">
South Australia may rise to and overcome this challenge, I merely note the risks facing the local economy here, which seldom seem to be mentioned elsewhere.
Demand: jobs growth
The Labour Force survey is presently suffering from a major credibility deficit and has led to the ABS to be something of a figure of fun over recent months (harsh, given recurring budget cuts) with the apparent largest jobs 'gain' in history followed next month by a total reversal.
As a long term buy-and-hold investor I would always advise following the longer term trend anyway, but this is even more so now the case given that the seasonal monthly data has been proven to be so wildly volatile.
The data below underscores the point about the problem child that is the South Australian economy, with close to zero jobs having been created on a net basis for nearly five years.
The strongest economy for the past two years, as discussed here frequently, has been that of New South Wales, while the mining states are now transitioning from construction to production.
<img src="/images/2014/10/20/GRAPH5.jpg" alt="">
Below the long term growth in employment chart shows New South Wales to be in relatively good shape, but the southern states – and now to a lesser extent the mining states – struggling.
<img src="/images/2014/10/20/GRAPH6.jpg" alt="">
But perhaps the real story in the jobs market is the alarming gulf in fortunes being experienced between the prospering capital cities such as Sydney and Melbourne and the simultaneous hollowing out of the respective regional economies, as I explored here.
The total number of full-time employed in the regions of the main states now sits below 2006 levels, and this casualisation of the workforce may have surprisingly harsh negative impacts for regional housing markets in the decades ahead.
This article continues on the next page. Please click below.
 
<hr class="system-pagebreak">
 
Demand: housing finance
The August Housing Finance data showed a slight decline on the preceding month, leading to a predictable knee-jerk response from commentators, but monthly data rarely rises (or falls) in a straight line and the trend in housing finance still looks to be strong overall.
<img src="/images/2014/10/20/GRAPH7.jpg" alt="">
The owner occupier housing finance data may have revealed the first signs of weakness in some states, but saw Queenslander financing looking particularly strong. Good times are ahead in Brisbane in 2015, it appears, after a lengthy wait.
<img src="/images/2014/10/20/GRAPH8ROLLING.jpg" alt="">
Last week the ABS Lending Finance data was also released, which details where investors are buying. It's a clear cut Sydney boom which we anticipated long ago.
<img src="/images/2014/10/20/GRAPH94c%20inv%20loans.jpg" alt="">
Supply: building 
Rather than regurgitate our extensive chart packs, just a few takeaway points here on dwelling supply.
At this stage of the property cycle plenty of new supply should be coming online, rental growth should be easing and property investors need to be wary of areas with a looming oversupply of dwellings.
Melbourne and Victoria continue to approve thousand of houses for construction, as has been the case for more than a decade.
<img src="/images/2014/10/20/GRAPH10.jpg" alt="">
However, it is actually apartments which generally represent the greater oversupply risk in this cycle.
Note that after an approvals boom, we now see Sydney approvals and construction rolling over and the risk of oversupply easing back, except in a few specific suburbs.
<img src="/images/2014/10/20/GRAPH11.jpg" alt="">
Apartments commenced are picking up very strongly in Queensland.
<img src="/images/2014/10/20/GRAPH12.jpg" alt="">
The apartments completed chart below underscores a key point – New South Wales has completed a meagre 17,500 units (as well as 19,100 houses) in the year to June 2014, which compares to state population growth of somewhere approaching 115,000 across the same time horizon.
<img src="/images/2014/10/20/GRAPH13.jpg" alt="">
The raw numbers should tell you straight away that the risk of a massive Sydney oversupply in aggregate is tenuous unless approvals and construction get a second wind, with the Greater Sydney population set to leap higher by almost 90,000 heads in only one year.
It is true that there is plenty more to come in the pipeline - Greater Sydney has approved just over 26,500 units in the year to August 2014, but this uptrend has already peaked some six months previously on a rolling annual basis, and is set to ease back to around 20,000 in due course.
House approvals also have risen very steadily in Greater Sydney to above 12,500 on a rolling annual basis, but even if 100 percent of these approvals in the pipeline make it through to commencement and then completion (which they won't) there is no pressing risk of a huge oversupply at this juncture.
Melbourne on the other hand already has a clear oversupply problem in existence in some inner locations, while the commencements data also shows that inner Brisbane is steadily getting around to constructing thousands of apartments.
Investors in attached Brisbane dwellings should steer away from those city locations with an oversupply risk and in particular purchase only properties with a point of scarcity (e.g. great outlook/river view/exceptional location).
This article continues on the next page. Please click below.
<hr class="system-pagebreak">
 
Supply: stock and vacancies
Penultimately, Melbourne has absolutely stacks of stock on the market, about double that of Sydney, with an unprecedented 1800 Melbourne auctions coming right up on Cox Plate weekend. This will likely slow the market. Sydney has the opposite problem with a dearth of stock on the market while demand remains strong.
<img src="/images/2014/10/20/GRAPH14.jpg" alt="">
When markets move into the increasing supply phase vacancy rates should eventually rise, and this has happened to some extent in Melbourne and Perth with vacancy rates up at 2.5% on a city-wide basis. Perth investors should look for well-located houses over units and apartments, in our opinion.
Meanwhile Brisbane and Canberra have vacancy rates sitting around the national average of 2.2% on SQM Research's measures.
<img src="/images/2014/10/20/GRAPH15.jpg" alt="">
For all the expert talk of a Sydney oversupply, the harbour city's vacancy rate slipped back to just 1.7% in August.
Meanwhile, in further proof that real estate markets do cycle, the years of flat markets, lack of price gains and therefore moribund levels of dwelling construction in Adelaide and Hobart has resulted in low vacancy rates, and these markets could in turn pick up a little as a result.
Although I used to live in Darwin I haven't been up that way lately, so will just note here that there are just a few worrying indicators in the "Top End", with sliding prices, rising stock on market, signs of quite rapidly rising vacancy rates and a resources boom which is threatening to roll over.
The Darwin property boom may risk follow the mining boom back down from whence it came, so watch this space.
Dwelling prices
By this time of year most of the year's property market predictions have normally been conveniently forgotten about or subtly amended. Not ours! Let's see what we got right and what we didn't.
Our Adelaide 2014 market forecast was +0% to +3% capital growth, and RP Data's index has a year to date gain of 3.39% with a couple of months still to run.
<img src="/images/2014/10/20/16.jpg" alt="">
Brisbane and Gold Coast tracking nicely for our +2% to +5% capital growth prediction. Brisbane has some of the best prospects for 2015 and beyond after a lean half decade.
<img src="/images/2014/10/20/GRAPH17.jpg" alt="">
Melbourne looks set to do better than the top end of our +5% gain forecast, though from a macro perspective it does now seem likely that the market is set to slow up, with whispers afoot of the much-vaunted "buyers market" returning.
<img src="/images/2014/10/20/graph%2018.jpg" alt="">
The Perth market is holding up OK, and notably houses are faring much better than apartments on most indices. Our forecast is on track.
<img src="/images/2014/10/20/graph19.jpg" alt="">
The Sydney market has been rock solid and will finish 2014 ahead of our +6% to +9% capital growth forecast.
SQM Research believes that the Sydney market will replicate this capital growth once again with another 8% to 12% growth in the year ahead too. We'll release our own 2015 forecasts in due course as well as our 2015 <a href="https://allenwargent.com/" target="_blank">Buyers Eye</a> housing market outlook reports for London, Sydney and Brisbane.
<img src="/images/2014/10/20/graph20.jpg" alt="">
Overall we could yet score a hit with our forecasts on all five markets, but the Melbourne data needs to start slowing for that to be the case, which it just never quite seems to do.
Watch out for sliding unit rents at this stage in the cycle as new supply comes online. Owners of properties with a unique appeal, in an outstanding location or with a key element of scarcity value will of course have few problems with rental vacancies in 2015, but lower quality stock in other locations could see asking rents getting dropped or have issues securing tenants.
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pwargent-M4siyDbqQY

Australia's macro markets: the numbers you should know

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A preliminary weighted average clearance rate of 68.5% was recorded this week across capital cities compared to 67.8% last week and 70.4% this time last year.
This result is consistent with the year's trend. The year to date clearance rate for capital cities was 68.3% before this week.
In Sydney a preliminary clearance rate of 75.5%  was recorded compared to 71.9% last week and 79.5% last year. Despite the clearance rate not being higher than a year ago the auction market has improved with more homes being sold.
In Melbourne there was a preliminary clearance rate of 68% recorded compared to 70% last week and 68.6% this time last year. Concerns the auction market was beginning to weaken have not been added to this week.
Next week will prove an interesting test, with a record of around 1800 auctions scheduled.
In Brisbane a preliminary clearance rate of 50.5% was recorded compared to 48.8% last week.
Adelaide recorded a clearance rate of 50%  compared to 55.8% last week.
In Canberra a clearance rate of 50% was recorded.
In Perth a clearance rate of 60% was recorded.
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rlarocca-zWhvjay44N

Capital cities land on trend: RP Data's national auction wrap

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Guest observation
Australian Senator Nick Xenophon continues his push to allow first-time home buyers to tap into their retirement savings to come up with a mere deposit for a home loan, and a life time of exorbitant fortnightly loan repayments.
What Senator Xenophon utterly fails to address is the reckless lending standards of the Australian banking system.
It is hard to find a banking system in this world willing to lend such large sums of debt to home buyers relative to the incomes they earn. Only instances were in countries such as Ireland prior to the global financial crisis.
Xenophon, in a recent interview on The Panel, said "in the order of $30,000 to $40,000 as a maximum," would be allowed for first-time home buyers to take out of their retirement funds to make a deposit for home.
Recent history suggests that every time Australian regulation allows or gives home buyers access to funds originally void, it has propelled property prices.
Clear examples are the various home owner grants and access to self-managed super funds to invest in property.
When property bubbles pop, housing becomes affordable again and first home buyers would need no artificial assistance beyond their means to purchase a property. Its as simple as that – and Senator Xenophon has no clue the level of risk he is trying to make young Australians take on.
The reason property prices are as high as they are in Australia is due to a chronic oversupply of debt. The abnormal willingness of Australian banks to lend large sums of debt to home buyers is clearly visible in the table below.
<img src="/images/2014/10/20/Picture%206.png" alt="">
Hence Australia is experiencing a credit-fuelled property bubble that Xenophon should address in parliament, rather than trying to prop up a bubble that makes Australia look utterly insane.
You might also want to read: 
<a href="/expert-insights/buying/exclusive-the-experts-on-super-access-for-first-home-buyers">Exclusive: The experts on super access for first home buyers</a>
Lindsay David is a co-founder of clean technology company GreenRigCo and a former strategy &amp; business development consultant. Lindsay holds an MBA from IMD Business School. He is the author of <a href="https://blog.australiaboomtobust.com/" target="_blank">Australia: Boom to Bust</a>.
 
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jrichardson-uRX5hFdKfN

Nick Xenophon continues to inflate our property bubble

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I've been going through some personal challenges lately. While it's been emotionally very hard, it's made me realise something I was totally unaware of.
I treat and deal with my personal obstacles in the same way I do the challenges I encounter in property developing.
I hadn't thought too much about the way I work and the way I live and kind of assumed they were separated by an invisible line in the sand. But the longer I've been running my business, the blurrier the line has become.
Yesterday I had to go into a very unfamiliar space. I had to negotiate something of upmost importance to my family's future, but it was personal and highly emotive stuff.
To get through it, I put on my business hat and approached it in the same way I would if I was negotiating a property deal or managing a development issue.
By doing this I could emotionally remove myself from the situation and make some very straight calls. This helped me get through the day but more importantly, the result I had visualised for a few weeks leading into this actually materialised.
I felt that this mental preparation gave me a guideline or goal for an acceptable outcome. Let me explain what I mean by 'preparation'.  I'm literally talking about only a few minutes every couple of days thinking about what I wanted to happen. That's all.
I'm not sure if I'm noticing this more as I get older or it's because I'm more 'tuned in' but this whole visualisation thing works for me, in work, at home and in business. 
I'm certainly not a 'new age' type but I've found if you open yourself up to an outcome and allow some emotion reasoning behind why you want that outcome, then magical things can happen.
Apart from my personal results, I've also been very pleased with some business results this week. Property Bloom has completed a few developments for our clients, we've found some very good development sites and had tenants literally jumping to sign a lease on a completed dual occupancy project.
In order for these enthusiastic tenants to move into their new homes, we needed to handover the project. This means the final drawdown has to be paid by the developers bank into the builder's account before keys will be released. This process can sometime take weeks, but we didn't have weeks, only days.
Our ducks were lined up after we held an open house a few weeks before completion knowing that tenants will need to give two weeks' notice before they could move into the new villas.
We conducted our Practical Completion inspection on the duplex instructing our client to put the final invoice to the bank for payment – at the same time we managed some small items still to be finished on the build.
The bank's valuer inspected the duplex on Tuesday, the bank paid the final builder's invoice on Wednesday, funds hit the builder's account on Thursday and keys were delivered to the agent ready for the tenant to move in on Friday. This precise timing means our client has a rental income from the day after handover.
So how did visualising help?  Well I knew three weeks prior the day the tenant had to move in and while you cannot control this part of the development as we are relying on banks and payments to hit accounts, all we could do was ensure everyone had all the information they needed to do their jobs and 'know' (hope) that all would be well.
In this case it worked, but there has been others where it hasn't.  Where I've had a feeling someone is going to drop the ball, whether it's an impression I got from the bank or the builder or the valuer or the agent or the tenant. Whatever it is, you need to act on this feeling and adjust the finish line. It's about using your gut feel, intuition, experience or whatever you want to call it.
So refocus, and get your eye back on the prize.
<a href="https://www.propertybloom.com.au">www.propertybloom.com.au</a>
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Playing the property game, keep your eyes on the prize

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Property flipping is when an investor purchases a property with an intent to sell, or ‘flip it’, quickly to make a profit.
How they go about this varies from investor to investor, but essentially if someone tells you they’re looking to flip a property then it means they’re looking to buy and sell quickly.
You might also see it referred to as house flipping, or as a quick flip.
Usually, to generate a profit, some form of renovation or improvement is involved in flipping properties. A few years ago the term became notorious after investors purchased US properties on the cheap, made a basic cosmetic fix, and then sold on to Australian investors as good yield options at inflated prices.
Not every market can sustain a flip
Property flipping has become increasingly popular, often replacing the mantra of “buy and hold”. However, it doesn’t work in every market. Fast moving “boom time” conditions are far more likely to allow investors to on-sell for a greater price – especially as the market pushes the price up – however, slow moving markets provide little room for making mistakes.
If the market is slow, and fewer buyers are looking, you may be facing a longer waiting period to generate your profit. Similarly, buying and planning on a quick sell that may not eventuate could see you holding a property in a downward market. The same due diligence still applies.
It’s risky business
Observer Mark Armstrong has <a href="/expert-insights/investing/property-flipping-is-risky-business">been plain about property flipping</a> – it offers a good opportunity to make a quick buck, but it comes with a hefty amount of risk.
Due to high in-costs and out-costs of property in Australia, and the likelihood you’ve borrowed to invest, you’ll have to crunch your numbers to make a profit.
To start with, you’ll have the property vacant without income while paying the loan’s interest repayments during the renovation period.
You’ll pay the real estate agent around 2% to 3% in commissions to sell, Armstrong explains, and another 1% on advertising costs.
Not to mention stamp duty when you initially purchased the property.
Your renovation needs to push your purchase price up by those holding costs and buying/selling fees, as well as by a substantial profit to make it worth your time and the funds spent on the renovation itself.
No small feat.
While for some areas the buy/flip strategy can be successful, particularly for those building capital earlier on in their investing years, Armstrong recommends that most consider holding the asset or reconsidering entirely.
“If the holding, transaction and time costs add up to more than the property’s likely sale price, you may need to reconsider whether it’s worthwhile undertaking the project,” he said.
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What is property ‘flipping’? Investment terms explained

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The InterContinental Hotel is getting ready to fling open the elegant entry of its newest Australian operation in Double Bay.
Having languished as the boarded up Ritz Carlton Hotel-turned-Stamford Plaza since closing in 2009, the new property may put some pizazz into the sluggish centre.
During its golden days, the hotel was a hotspot for visiting royalty such as Princess Diana, Madonna, Sir Elton John and former President of the USA Bill Clinton. 
It was also where pop icon Michael Hutchence died in 1997, after a night in the bar.
Next month it will open as the <a href="https://www.ihg.com/intercontinental/hotels/gb/en/sydney/sydic/hoteldetail?cm_mmc=OSMAE-IC2-MEA-EN-visitaustralasia_vanity" target="_blank">InterContinental Double Bay</a> following a $25 million renovation and aim to resume its post as Sydney’s most glamorous inn with 140-rooms and a chic rooftop pool with curtained cabanas. 
Architectural firm Bates Smart has overhauled the mock-European-styled structure.
The Cross Street property was bought in 2013 for $57 million by Singaporean funded group Royal Hotels Australia. It had previously sold to the Valad Property Group for $81.5 in 2008. It will be Royal Hotels’ fifth in Australia.
The new operation will sleep 360 people when full, have a late night gin bar, a restaurant and Sydney’s only fully separate Kosher kitchen in a hotel of this standard. Michelin-starred French chef Julien Pouteau will head the restaurant.
It has also joined the Double Bay wedding collective in an attempt to tap the lucrative nuptial market.
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Double Bay's InterContinental set to turbocharge village renaissance

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Recently, 116 people were surveyed by Certified Practising Real Estate Agents (CPREA), with 73% saying that they would expect a lower price from a private seller compared to a property listed by an agent.
CPREA chairman Geoff Baldwin said it’s not uncommon for buyers to negotiate even harder when they know that an agent isn’t representing the vendor, resulting in the buyer usually achieving a lower price.
“When confronted with a lower offer from a buyer, private sellers tend to think, well I’m not paying an agent and hence are more likely to accept a lower price,” said Baldwin.
“In fact listing the property with a proven, experienced negotiator can not only justify the agent fees but in many cases will result in a sale price thousands, if not tens of thousands higher than if sold privately,” he said.
He also noted that many property owners can find it difficult to deal directly with buyers, particularly those that are negative about a property, and can struggle to assess the financial capacity of buyers, deal with “subject to sale” offers, write solid contracts, get meaningful deposits and other aspects.
Property Observer readers – what’s your take?
{mijopolls 54} 
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 Do you expect a reduction in price if home is sold without an agent?

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Melbourne City Council has secured the $76 million purchase of a 6462-square-metre property site opposite the Queen Victoria Market, although there were bids above $80 million from offshore buyers.
The vendor Robert Munro's family had owned <a href="https://www.commercialrealestate.com.au/property/2011417217/for-sale/vic/melbourne/development-land" target="_blank">the Munro site, as it's known, for 104 years</a>.
The Queen and Therry Street warehouse industrial property last sold in 1910 when bought by Robert Munro’s grand­father James Munro for 19,000 pounds from McEwen’s Hardware Co. The property has been retained by his family ever since, with the exception of occasional sales of smaller components such as the site now occupied by McDonalds on Elizabeth Street, in 1989. Ironically, the under-bidder for the site in 1910 was the Melbourne City Council who bid 15,000 pounds. According to marketing agents Clinton Baxter and Nick Peden of Savills, the property offers development potential virtually unrivalled and no longer obtainable within the Melbourne CBD.  
With 160 metres of main street frontage directly opposite the world famous Queen Victoria Market, the property has Capital City 1 zoning. "This property represents the single best redevelopment opportunity to be offered to the Melbourne market in many years. "The most significant in 20 years,’’ Mr Baxter said. “We were inundated with interest from across Asia, and in particular Mainland China, but after significant consideration, the vendor family elected to leave a legacy by selling to the City of Melbourne at a discount to higher bids.  
"The family is keenly aware of its 104 year history at the site and decided that its future was best handled by the City of Melbourne.”
It was bought from McEwan’s hardware business for the Munro family to run its automotive, manufacturing and spring businesses after James went to Paris to secure the agency for ­Clément-Bayard cars.
The sale adds a major element for the unfolding Town Hall plans to ­revitalise the market precinct.
The council will control the site eventually bringing in a private sector developer.
Commentators suggests buying the Munro site ought allow the council to convert the existing car park into public open space.
Five of the top six bids for the property were from mainland Chinese developers.
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