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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Seemingly focussed on the old proverb "the more the merrier", Harry Triguboff’s Meriton group has a record eight cranes on its mega inner Sydney development site Mascot Central.
Given that the number of cranes to dot a skyline has long been an economic barometer, it seems that Sydney is abundantly healthy.
The crane craze is a result of Meriton’s decision to develop the master planned project as a single venture rather than over stages. 
It will have 1000 apartments, 255 serviced apartments, a 3,200 square metre Woolworths and 16 other retailers. There will also be a lap pool, kids pool, a gymnasium and childcare centre.
 
<img src="/images/2014/10/1/Mascot-Central-1.jpg" alt="">
Above: An artist's impression of Meriton's Mascot Central. 
Harry Triguboff said: "We can build all at once here because 60% of the site we will sell; 20% will be serviced apartments; and 20% will be leased residential." 
"So we don’t have to find so many buyers at once. We will not depress the market. To do all this, we put up four tower cranes and when necessary, we also have mobile cranes,” said Triguboff.
The site was purchased last year for $100 million from the Goodman Group.
The company was responsible for 0.03% of the nation’s GDP in 2013.
Picture supplied. 
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andreadixon-oif3j7eKne

Eight cranes for Meriton's Mascot Central

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Commercial Property Group is supporting the event ‘Ride For Kalydeco’.
Alex Strachan is riding his jet ski from Cronulla to Port Macquarie in order to raise money to increase awareness for Kalydeco – a drug that targets the cause of Cystic Fibrosis.
Strachan plans to raise $25,000.
The Commercial Property Group staff will be at South Cronulla beach from 7am on October 4 to see Alex off.
For more information you can visit the website: <a href="https://www.rideforkalydeco.com.au" target="_blank">www.rideforkalydeco.com.au</a>
Donate <a href="https://www.chuffed.org/project/ride-for-kalydeco" target="_blank">here</a>.
Kalydeco is the first medication that fixes the underlying CF defect. Kalydeco represents a major breakthrough in CF research as current medications only treat the symptoms, not the cause.  Kalydeco adds approximately 18 years to life expectancy of a CF sufferer; the less damage there is when Kalydeco is started, the more years that can be added to lives. 
Doctors in Australia have found that cystic fibrosis patients who surfed had healthier lungs than non-surfing CF patients. 
They found that the inhalation of a sterile saltwater mist helps clear the thick, sticky mucus from the lungs and therefore a beneficial therapy to CF patient.
As a result of this discovery, hypertonic saline was developed to mimic a “surf session” for CF patients.
 
Main image courtesy of Ride For Kalydeco.
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jchancellor-FAypfDUnLy

Commercial Property Group supporting cystic fibrosis treatment awareness

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A Chinese developer has paid $7.6 million for a 1334 square metre property in Kew.
Savills brokered the tender sale of 140-142 Cotham Road.
<a href="https://www.realcommercial.com.au/property-land+development-vic-kew-501264539" target="_blank">It has a permit to develop 33 apartments and four stores</a>.
The property sold at $4.76 million in 2010.
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Kew development site sold at $7.6 million

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The underlying demand for office markets fell in August 2014 to just 125,000 square metres nationally, according to BIS Shrapnel’s latest statistics.
The decline that had been expected by BIS Shrapnel has seen underlying demand remain modest in recent quarters and far below the long-term average.
The 10-year average demand is 660,000 square metres.
<img src="/images/2014/10/1/Picture%2018.png" alt=""> Source: BIS Shrapnel
Net absorption may, however, improve, according to senior project manager Maria Lee.
“Underlying demand is usually a lead indicator of net absorption (the change in occupied floorspace from one period to the next). We haven’t yet seen the improvement in underlying demand after the slump in 2013 fully feed through to net absorption. As such, we should see net absorption move back into positive territory by the end of 2014,” said Lee.
She noted that underlying demand is expected to pick up in the November 2014 quarter as the November 2013 data drops out of the calculation.
Employment, obviously a key data set for individual industry areas, has seen property and business services rebounding, a decline in public administration and safety, and stability in the financial and investment services sector.
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Demand for office space falls across August: BIS Shrapnel

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The Real Estate Institute of Western Australia (REIWA) have recorded a small uptick over September in the median house price, despite a softening sales volumes.
The new $544,000 median, up 1% in the three months to September, is largely due to first home buyers holding out of market, according to REIWA’s president David Airey.
He noted that a compositional shift in sales had occurred, with an increase in turnover closer to the CBD and weakness in the outer suburbs.
“This may be a result of the numbers of first home buyers slipping away,” he said.
Notably, September is usually a seasonally slow sales month.
“Although there was a pick-up in sales at the end of September, numbers overall for the September quarter were down by 7% on the June quarter and down 15% on the same time last year,” he said.
“Despite some modest monthly variations, there has been very little movement in the Perth median house price between recent quarters, with Landgate data, for example, indicating a revised median for the June quarter of around $541,000.”
Western and eastern parts of the City of Stirling, as well as Fremantle, Vincent and Melville all saw sales pick ups.
Weaker sales were recorded in Joondalup and Belmont.
Rents were recorded as dropping since June, despite the overall metropolitan rent remaining at $450 per week at present. This is $10 down on houses from three months ago, with units and villas $15 down to $430.
There were 150 fewer rentals recorded over September than the month prior for Perth, but it maintains a 4% vacancy rate.
{mijopolls 44}
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Perth price uptick a “compositional shift” due to lack of FHBs: REIWA

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While it seems that the national growth rate has moderated somewhat, a number of capitals are still recording solid growth figures.
However, the month of September was largely flat across the board, according to RP Data. Over the three months to September 2014, Sydney remained the stand out, recording 4.1% price growth, while Hobart dropped by 1.0%.
RP Data national research director Tim Lawless said that September’s overall growth across Australia, at 2.9%, was indeed driven by Sydney and Melbourne. Melbourne recorded 3.7% growth, while Adelaide also saw a strong uptick of 3.1%.
"The annual rate of appreciation in dwelling values has actually been moderating since reaching a peak in April this year," said Lawless.
"The fact that the annual trend of capital growth has been trending lower is an important factor to note as it highlights that the rate of capital gain is no longer accelerating," he said.
He did not that housing market conditions remain buoyant, but said that the 12 month trend is drifting lower since an 11.5% peak in April. 
"A moderating annual trend, as well as the relatively flat September result, is likely to be welcome news to policy makers and potential buyers after the winter months recorded the largest capital gain since 2007.
"The softer September result is also likely to be seen as a positive indicator by the Reserve Bank which has recently raised concerns about the level of value growth and speculative investing in the Sydney and Melbourne housing markets," Lawless said.
CAPITAL CITY SEPTEMBER MONTHLY GROWTH, MEDIAN DWELLING
 Sydney Month: 0.8% Quarter: 4.1%  Year on year: 14.3%  Median: $655,000 Melbourne Month: -0.8% Quarter: 3.7%  Year on year: 8.1%  Median: $535,000 Brisbane Month: 0.7% Quarter: 0.6%  Year on year: 6.4%  Median: $440,000 Adelaide Month: 0.9% Quarter: 3.1%  Year on year: 5.8%  Median: $390,000 Perth Month: -0.4% Quarter: -0.6%  Year on year: 3.2%  Median: $515,000 Hobart Month: -0.3% Quarter: -1.0%  Year on year: 4.6%  Median: $300,000 Darwin Month: -1.0% Quarter: 1.4%  Year on year: 1.7%  Median: $545,000 Canberra Month: -0.5% Quarter: 1.4%  Year on year: 1.7%  Median: $500,000 
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Capital gain no longer accelerating, slowdown will be welcomed by policy makers: RP Data’s latest statistics

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With interest rates low and property prices high, particularly in Sydney and Melbourne, Residex’s John Edwards has warned property purchasers to be diligent about overpaying.
He noted that while interest rate increases will only cause problems to a limited extent for investors, due to tax deductibility of the interest, home buyers will be impacted more.
“Will there be people who are going to get into trouble as a consequence of the current high house price growth cycle and the low interest rates?
“Yes, there are always people who over leverage and have changes in personal circumstance which cause issues,” he said.
He said it’s crucial to recognise that house price growth is, indeed, slowing.
“It is easy to overpay for a property at this point in time, and over payment will not be covered by increasing property values over the balance of this growth cycle,” he said.
His word of warning to those tempted to stretch to borrow more than they can justify to themselves is simple. Don’t.
“This is not the time to do that. Buy a lower cost investment property and avoid the stress,” he said.
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Residex’s John Edwards warns against overpaying in current market

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One of Victoria's most impressive pastoral homestead, Mount Mitchell at Lexton, 40 kilometres northwest of Ballarat, has been listed for sale.
The five bedroom 100 squares bluestone home with 14 open fire places, that dates back to the Robertson family pioneering connection, has been listed through Pat Rice &amp; Hawkins.
Offers on the 310 hectare holding <a href="https://www.realestate.com.au/property-lifestyle-vic-lexton-7684059" target="_blank">close November 11 with $4.5 million plus hopes</a>.
Constructed around the central courtyard with its historic horizontal elm tree, the Mount Mitchell homestead was designed by the Charles Webb, who was the architect for a number of Melbourne’s foremost buildings including Tasma Terrace in East Melbourne. 
The bluestone homestead, of Italian conservative classical design, sits within a four hectare garden.
The vendors, the fourth owners, have been there thirty plus years, buying it in a neglected state in 1981. 
Construction of the homestead began in 1860 and was completed some twelve months later with a further replica section added in 1910. 
Peter Hawkins, director of Pat Rice &amp; Hawkins, advised 766 acres was currently let under contract for cropping to a local farmer and also comprises highly productive red loams to heavier and darker soils considered to be volcanic in origin. 
The land is on a corner with the Sunraysia Highway and Dawson Road.
The building of the homestead commenced in 1860 and was completed during 1861 for Thomas Robertson senior and his eldest son James. Thomas lived there until his death in 1873 with James and his family remaining at Mt Mitchell until James death in 1893. In 1910 Thomas Robertson senior's grandchild engaged another architect to design the additions which almost doubled the size of the original homestead. 
In 1926 Mt Mitchell was sold to the new owner, Thomas Barrett who extended the garden and planted the pine trees which still grow along the full length of the driveway.
 In 1936 Thomas Barrett sold Mt Mitchell to the Muller brothers and for a period of time the homestead was left neglected and in disrepair until it was purchased by the current owner Richard Salter.
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Ballarat district bluestone Mount Mitchell homestead listed

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Vendor discounting figures are regularly collected by research house SQM Research. Now, they’ve compiled the 10 most discounted individual properties in Western Australia.
They note that Western Australia is a locality that has undergone substantial change in recent years for residential property, with the mining boom and subsequent downturn.
“Many of the properties we see below can be easily recognized from our national top ten most discounted properties, as over the past few months, Perth properties (and other properties from Western Australia) have made up the bulk of the list,” their research notes.
Just one of the homes on SQM Research’s Western Australian list had an initial asking price below $1 million, which is certainly not the norm for discounted properties across the country. After discounting, just two dropped of the Western Australian properties dropped below the seven figure mark.
Across the entire list, two were from South Perth, with the top two in Carabooda.
<a href="https://www.realestate.com.au/property-residential+land-wa-carabooda-200627671%20" target="_blank">292 Carabooda Road, Carabooda</a>
<img src="/images/2014/10/1/1.jpg" alt="">
Initial asking price: $1,650,000 Now asking: $1,032,000  Discount: 37%  Days on market: 404 <a href="https://www.realestate.com.au/property-house-wa-carabooda-114289451" target="_blank">219 Bernard Road North, Carabooda</a>
<img src="/images/2014/10/1/2.jpg" alt=""> 
Initial asking price: $3,500,000 Now asking: $2,272,000  Discount: 35%  Days on market: 404 In terms of the dollar figure, this has been reduced by the most on the list – copping a $1,228,000 reduction on asking price. <a href="https://www.realestate.com.au/property-unit-wa-bicton-115389839">28a Malsbury Street, Bicton</a>
 <img src="/images/2014/10/1/3.jpg" alt="">
Initial asking price: $1,500,000 Now asking: $1,000,000  Discount: 33%  Days on market: 308 <a href="https://www.realestate.com.au/property-house-wa-doubleview-116544475" target="_blank">1 Princess Road, Doubleview</a>
<img src="/images/2014/10/1/4.jpg" alt="">
Initial asking price: $2,700,000 Now asking: $1,800,000  Discount: 33%  Days on market: 175 <a href="https://www.realestate.com.au/property-house-wa-yanchep-115004491" target="_blank">48b Brazier Road, Yanchep</a> 
 <img src="/images/2014/10/1/5.jpg" alt="">
Initial asking price: $985,000 Now asking: $699,000  Discount: 29%  Days on market: 350
This article continues on the next page. Please click below to continue.
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 <a href="https://www.realestate.com.au/property-apartment-wa-south+perth-113923551" target="_blank">12/4 Scott Street, South Perth</a>
<img src="/images/2014/10/1/6.jpg" alt="">
Initial asking price: $3,650,000 Now asking: $2,600,000  Discount: 29%  Days on market: 481 <a href="https://www.realestate.com.au/property-duplex+semi+detached-wa-burswood-116984079" target="_blank">21b Hampton Street, Burswood</a>
<img src="/images/2014/10/1/7.jpg" alt="">
Initial asking price: $1,400,000 Now asking: $1,000,000  Discount: 29%  Days on market: 126 <a href="https://www.domain.com.au/property/for-sale/townhouse/wa/perth/?adid=2010865160" target="_blank">211 Bulwer Street, Perth</a>
<img src="/images/2014/10/1/8.jpg" alt="">
Initial asking price: $1,500,000 Now asking: $1,100,000  Discount: 27%  Days on market: 930 Of all the properties on the list, this one has been on the market for longest – at 930 days. <a href="https://www.realestate.com.au/property-house-wa-sorrento-116607811" target="_blank">2 Marine Terrace, Sorrento</a>
<img src="/images/2014/10/1/9.jpg" alt="">
Initial asking price: $3,990,000 Now asking: $3,000,000  Discount: 25%  Days on market: 161 <a href="https://www.realestate.com.au/property-apartment-wa-south+perth-114534271" target="_blank">32/39 South Perth Esplanade, South Perth</a>
<img src="/images/2014/10/1/10.jpg" alt=""> 
Initial asking price: $1,295,000 Now asking: $990,000  Discount: 24%  Days on market: 406
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The top 10 most discounted properties in Western Australia: SQM Research

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Guest observation
Is there a national housing supply problem? No, but there is a problem of access to affordable housing in certain regions.
Last month, Reserve Bank Governor, Glenn Stevens commented on the need for “<a href="https://www.rba.gov.au/speeches/2014/sp-gov-200814">animal spirits</a>” to respond to the exceptionally accommodative monetary policy setting and boost the supply of housing. More than 12 months have passed since the RBA last adjusted the cash rate to the current record low of 2.5%. This has stimulated investor demand, particularly in metropolitan Sydney and (to a lesser extent) Melbourne. Yesterday’s <a href="https://www.rba.gov.au/statistics/frequency/fin-agg/2014/fin-agg-0814">Reserve Bank of Australia aggregate credit demand figures</a> show loans to investors rose 9.2% year-on-year.
Housing supply, however, is “sticky” and lags in responding to changing demand. The resulting mismatch between demand and supply has led to a year-on-year increase in the <a href="https://www.rpdata.com/research/monthly_indices">RP Data residential property index</a> for Sydney of 16.20%, relative to a long-term average of closer to 4% per annum.
This in turn is affecting people’s ability to pay for their housing needs and places vulnerable households at risk of affordability stress. Housing affordability is a complex issue, affected by housing market and economic conditions as well as labour force and demographic trends.
Federal and state governments have for a number of years recognised the need to address the joint issues of housing affordability and supply, having introduced at the 2008 COAG meeting a multibillion dollar National Affordable Housing Agreement. Yet housing affordability and supply remain on the political agenda with no clear policy response.
Can’t we just build more houses?
A simplistic approach to the problem advises increasing the stock of housing. However this ignores the myriad frictions in property development. Vacant land itself is costly and takes a significant amount of time to develop, including provision of infrastructure and transport.
An additional factor that must be considered is the asymmetry between incomes and property types. In other words, the “right” properties must be built to supply the people who are looking.
Currently, there is a lack of suitable land for residential property expansion that is also accessible and suitably positioned for instance, near employment opportunities and social and physical infrastructure.
Traditional models of housing costs argue that houses are expensive as a consequence of the land they are built on being expensive. More recently, housing economists have studied the effect of government regulation on house prices and property development. Research from the US-based <a href="https://www.nber.org/papers/w8835.pdf?new_">National Bureau of Economic Research</a> identifies zoning laws, and the barriers to development that such regulation creates as a more significant factor driving prices and affordability stress than undeveloped land values.
For many Australians looking to purchase a property, the transaction costs and duties are a major impediment to an efficient property market. Furthermore, fragmented government policies on land use and development, with separate rules at each level of government and typically involving a range of regulatory bodies further compound this.
In Australia, it has been identified that the current lack of a “<a href="https://dd8gh5yx7k.scholar.serialssolutions.com/?sid=google&amp;auinit=M&amp;aulast=Berry&amp;atitle=Why+is+it+important+to+boost+the+supply+of+affordable+housing+in+Australia%E2%80%94and+how+can+we+do+it%3F&amp;id=doi:10.1080/0811114032000147430&amp;title=Urban+policy+and+res">whole of government approach to housing</a>” needs to be addressed in order for an effective response to housing supply shortages.
This article continues on the next page. Please click below.
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Time to consider other options
In the mean time, regulators should consider their other policy options to increase the supply of affordable housing.
On Thursday, the RBA will appear in front of the Senate Standing Committee on Economics investigating the issue of housing affordability. One expected proposal is <a href="https://theconversation.com/macroprudential-regulation-where-central-bankers-stand-depends-on-how-they-think-32093">a tightening of lending standards to property investors</a>. There is only cautious support for any such measure. Renters are among the most exposed groups to housing affordability stress. Reducing the availability of rental properties through constraining investment activity will further exacerbate the effect of price pressures and record low vacancy rates.
An alternative policy may reconsider regulation of foreign investment and stronger regulation of the flow of cash through the “grey economy”. The research is mixed as to the national impact of relaxed foreign investment rules, though growing evidence suggests the current rules, intended to help stimulate those animal spirits and increase supply, has seen foreign investors effectively push potential local homeowners out and keep them in the rental market. The government could look to adapt these policy incentives so as to promote co-investment in affordable developments.
Surplus bedrooms
Another possibility may be exploring how to better utilise the existing housing stock. The ABS’s <a href="https://www.ausstats.abs.gov.au/ausstats/subscriber.nsf/0/F7B1C824CA185E15CA257BD40015751E/%24File/41300_2011-12.pdf">2013 Survey of Income and Housing</a> found that over three-quarters of Australian households had surplus bedrooms. Share housing picks up some of this space and now account for around 1-in-10 households. Legal and taxation uncertainties may reduce this as an option, following recent reports of local governments threatening <a href="https://www.smh.com.au/nsw/councils-threaten-home-owners-with-1-million-fine-for-renting-rooms-20140926-10mchq">$1 million fines for households</a> offering short-term share accommodation service through Airbnb.
There is no single solution to the range of issues relating to housing supply. Government at all levels and regulators need to work together.
<img src="https://counter.theconversation.edu.au/content/32278/count.gif" alt="The Conversation" width="1" height="1">
Danika Wright is affiliated with Sirca, as a member of the Sirca-RP Data Advisory Board. She is a lecturer in Finance at the University of Sydney.
This article was originally published on <a href="https://theconversation.com">The Conversation</a>. Read the <a href="https://theconversation.com/its-too-simple-to-argue-lack-of-supply-pushes-up-house-prices-32278">original article</a>.
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