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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Managing your own investment property has its advantages. You get to maintain control of the process and it can save on agent costs but there are traps that investors need to watch out for.
Property Observer talked to NSW Department of Fair Trading senior customer service officer Hollie McPherson about the common mistakes that self-managing landlords make.
<ol>
<li>
Access One of the most common complaints the NSW Department of Fair Trading receives about self-managing landlords relates to accessing the property without permission. “Because it’s a significant investment that people make when they buy and investment property, sometimes the landlord will not let go of the property and turn up without providing sufficient notice,” McPherson says. Retaining control over management does not mean you can ignore the rules about access. Landlords need to remember that tenants have rights and must obtain permission to access the property, except in some special cases. Landlords often face problems with tenants failing to grant access for the landlord or others to come to the property to carry out repairs, for example. If the tenant fails to provide access after the landlord has given the proper notice, the next step for the landlord would be to go to the dispute service offered by the Department of Fair Trading. 
</li>
<li>
Bonds Another common mistake that self-managing landlords make is not lodging rental bonds with the Department of Fair Trading, McPherson says. Landlords in NSW must lodge bond money with Fair Trading. Some landlords keep rental bonds in their own personal bank accounts, which can make it difficult for tenants who are leaving a property to recoup their bond. That’s not allowed. Landlords sometimes request more than four weeks’ worth of rent to be held as a bond but that’s also against the rules. 
</li>
<li>
Documentation “Sometimes landlords forget [a rental property is] like a business,” McPherson says. “You do need to have things in writing. It’s a protection for the tenant and for the landlord.” There’s no requirement in NSW to have a written tenancy agreement in place when renting out a property. When there’s no rent agreement, the lease reverts to a six month agreement that applies to both landlord and tenant. The landlord can’t increase the rent during that period and the tenant can’t stop paying the rent. While it’s not a requirement to provide a written tenancy agreement, it’s a good idea to have one. It’s difficult to prove that someone is a tenant and not a guest if there’s no tenancy agreement in place, McPherson warns.  A tenancy agreement should show what’s included under the lease agreement. It should also include a condition report that documents any damage or flaws in the property when the tenant moves in and out. “It’s an investment property so you want to keep track of what condition the property was in at the start of the lease,” McPherson says. Take photos for evidence. When the tenant moves out agree a time to inspect the property. If there’s damage the landlord can get works done and show receipts to the tribunal to have the repairs paid for out of the bond money. “Without that it’s really hard for the landlord to prove who caused the damage,” McPherson says. With rental payments, McPherson says it’s wise to provide rent receipts to the tenant or keep a tenant ledger, although some landlords fail to do this. “Keeping a tenant ledger is good for the landlord because it shows if the tenant is up to date also it’s good for the tenant because they can use it for future rental applications,” McPherson says. As a landlord, you’ll probably need to keep track of rental payments for your own tax records anyway. 
</li>
<li>
Charging for utilities Landlords sometimes make the mistake of trying to charge for utilities when they are not allowed to. “There are clear rules for when you can and can’t charge for water usage,” McPherson says. If there’s only one water meter for multiple residences, such as in an apartment building, you can’t charge utility bills, for example. 
</li>
<li>
Staying in touch Another common mistake is that landlords will only provide a mobile number to their tenants which can make it difficult for the tenant to get in touch with them. “It’s important for the landlord to give [the tenant] their full name, address to write to, telephone number or email address,” McPherson says. If something goes wrong, it’s important to try to contact the tenant to try to have a discussion about the problem. Keep a written record of what was discussed, including a diary of conversations and communication with the tenant. Record details such as when repair works will be completed, or why modifications won’t be made if the landlord chooses not to do work that the tenant requests. “It doesn’t matter how good the relationship was at the start things can go sour,” McPherson says. 
</li>
<li>
Seeking help If landlords are not sure of what to do, they can contact the Department of Fair Trading for advice, McPherson says. There are also fact sheets on the website that can assist. Fair trading can negotiate with the tenant on the landlord’s behalf, free of charge. Mediation is mostly conducted by telephone but if required Fair Trading can facilitate to face-to-face meetings. “If [landlords] make an effort to resolve issues, keep records in writing, then the service we offer is quite effective in negotiating the outcome,” McPherson says. If the problem can’t be solved through mediation, the next step is to go to the NSW Civil and Administrative Tribunal for a binding decision. It costs $47 to lodge a case with the tribunal.
</li>
</ol>
Note that this story refers to processes and rules in NSW only. The details will be different in other states and territories but the basic principles are still the same.
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zfielding-GvX3Uq9KTa

The six most common mistakes self-managing landlords make

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GUEST OBSERVATION
<ol>
<li>The agency which sold you the investment property is not necessarily the best to manage it – it is worth actively reviewing your choices in the local area, rather than just taking the most obvious option. </li>
<li>The person who signs you up at an agency may not manage your property. This means you have limited opportunity to assess the calibre of the people who will actually manage your hard-won asset. </li>
<li>Even if you go to a great deal of effort to select an individual property manager, it’s also vital to assess their agency as a whole. Many agencies have high rates of staff turnover but good business systems help ensure consistency regardless of which manager looks after you. </li>
<li>The best property managers do more than collect the rent and organise repairs. For example, they can alert you to the benefits offered by depreciation schedules, suggest high-return improvements and make sure you are aware of your options when it comes to insurance. </li>
<li>Property agencies should be judged on quality not just price. The advantage of a slightly lower management fee will quickly be eroded if there’s an unnecessary vacancy or a badly-prepared tribunal appearance. Don’t forget to ask how many properties each manager has to handle when comparing agencies, and whether they hold open for inspections on weekends. Examine all their ancillary fees as these can really add up. </li>
<li>While it’s important not just to focus on price when selecting an agency, it’s also worth remembering that you can negotiate – the higher end the property, the more room there usually is to manoeuvre. Those with a larger portfolio also have more power to strike a better deal. </li>
<li>Consider doing some mystery shopping before deciding on an agency. Inspect the quality of “for lease” ads and photography, checking how long it takes for calls to be returned and even turn up to an open for inspection. </li>
<li>While property managers are on “your side”, they also have a professional duty of care towards tenants and a responsibility to ensure relevant legal rules are followed. Property managers need to be able to negotiate in a firm but personable manner with tenants and landlords – so when they say you can’t make DIY electrical repairs, for example, don’t take it the wrong way! </li>
<li>Property management is not an easy job. Think twice before taking on the role yourself – poor quality tenants often target DIY landlords because they know a professional will screen them out. It’s no coincidence that the landlords in tears in current affairs television over their “trashed house” are almost always managing their property themselves. Even with professional managers, there are no guarantees but, if worst comes to worst, they are better equipped to deal with the eviction process. </li>
<li>Property managers usually have access to a network of quality, responsive tradesmen. These may not always be the cheapest in town, but have proven their ability to get the job done reliably. If the quote provided really is over the top, take the time to do some research on alternatives – and be polite in raising the matter. Set aside some of the rent you receive so that you can afford repairs. </li>
<li>Read your annual rental statements with an eye for what’s missing as well as what’s there – has money been taken out for pool maintenance, gutter clearing and the like? If not, ask why. </li>
<li>Property managers can make your investment journey easier and smoother, but the buck stops with you – it’s up to you to carefully select your property manager, respond to their queries, monitor their performance and proactively change managers if necessary.</li>
</ol>
Sharon Fox-Slater is the General Manager of EBM Insurance Brokers’ <a href="https://www.rentcover.com.au/" target="_blank">RentCover </a>landlord insurance division.
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sfoxslater-oVy9VUHSz9

The 12 must-know tips for dealing with property managers

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RP Data’s statistics revealed four suburbs across Australia where the median price was listed under $100,000. 
Property Observer couldn’t help but ask “Why are they so cheap?”
Digging a little deeper, we decided to discover just why these median recording prices were so suppressed.
Of course, small regional areas – as these tend to be – are usually more volatile in their medians due to the infrequency of transactions, particularly when looking at units. Some of these areas have very few apartment blocks. Investors are always urged to understand what the median price is, and how it is affected by the type of properties that transact over a period. Here are four things to know about the figure before relying on it.
Some areas will be cheap due to their location - far from any employment hubs - while others will have a different makeup that ensures their prices are recorded low. There's a reason that you're unlikely to have heard of some of these four areas - they're not all bustling hubs that property investors are used to looking at. However, this doesn't mean they don't have their opportunities - while re-sale may be a tricky situation and something to consider, the yield figures are strong on paper and at least one listing seems to suggest that rental returns may be attractive.
<ul>
<li><a href="/news">Gin Gin</a>, Queensland: $41,000</li>
</ul>
The tiny rural township Gin Gin, about 48 kilometres inland from Bundaberg, is the cheapest across the country when looking at the area’s median price for units, according to RP Data.
Houses in the area were recorded at $216,000.
Current listings suggest that it may have been a month of cheaper sales for Gin Gin, with apartments on the market for around the $200,000 mark. The cheapest offerings are blocks of land from $33,500 – including some in an eco-park.
According to the 2011 Census, the suburb of Gin Gin had just 157 people, while the state significant area had around 5,000.
It seems that infrequent sales are skewing the median - with just seven recorded by RP Data to calculate their most recent median.
<ul>
<li><a href="/news">Mission Beach</a>, Queensland: $69,000</li>
</ul>
Tourist township Mission beach in the Cassowary Coast Region is the lowest priced beachside apartment currently listed at $150,000.
The median house price is set at $342,000.
Property Observer did find a number of $60,000 sales on Sandy Close and Iluka Close for blocks of land that had been tagged as units over June and July that may have skewed the median. There was also a $50,000 sale on Sandpiper Close. These appear to be part of Oasis Mission Beach – Iluka Close was part of Stage Two.
Again, just five sales were recorded for Mission Beach units. It appears that this figure is highly unusual, and not indicative of what you'd be paying for a unit - with a gross rental yield statistic at 25.34% and rent at $335 per week (which aligns with what is currently seen in rental listings), it was a struggle to find a unit under $100,000 that would return this figure.
As a state suburb, the 2011 Census recorded just 765 people in residence
<ul>
<li><a href="/news">Risdon Park South</a>, South Australia: $84,000</li>
</ul>
It appears that sub-$100,000 options are certainly on the cards for those looking to buy in Risdon Park South’s surrounding suburbs in <a href="/news">Port Pirie</a>.
At present no listings for the immediate Risdon Park South area were found. Current listings include an $89,900 “maisonette home” or three-bedroom, one-bathroom unit in Port Pirie. However, it is under offer at the moment.
Meanwhile, also in Port Pirie, a one-bedroom, one-bathroom offering for $99,000, which markets itself to investors or retirees, is available.
Port Pirie is the larger township, and as of the 2011 Census Risdon Park South was home to 1,975 people.
It seems a number of duplexes, including one on Hutchinson Street for $75,000 and one on Plenty Street for $80,000, may be keeping the median price down. One property listed in the area, for $85,500, is a solid brick maisonette offering.
In total, 12 unit sales were noted by RP Data. They recorded the median house price at $275,000.
<ul>
<li><a href="/news">Hamilton</a>, Victoria: $85,000</li>
</ul>
Currently, in Hamilton, there is one listing under $100,000 – a one bedroom, one bathroom flat asking for $95,000 on Moore Street, currently rented at $120 per week. Two-bedroom units span from $122,000 upwards.
Hamilton’s median house price sits at $197,000.
Located 300 kilometres west of Melbourne, or a three to four hour drive, it’s best known as a sheep grazing and agricultural area, however as a state suburb is recorded as housing 10,104 people in the 2011 Census data.
Just 12 unit sales were recorded. Suggesting a 13.46% gross rental yield, on $220 weekly median advertised rent for units, it appears that while in reality the yield may still be strong - you'd be looking for closer to the $200,000 bracket in a purchase to achieve the $220 rent.
Keen for more data? You can peruse our free suburb data here.
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jduke-EHk3XBmHkn

Why so cheap? The four suburbs with median unit prices sub $100,000

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CFS Retail Property Group has booked a $400 million net profit for fiscal 2014, up 35% on the prior year.
The retail property trust has $14.2 billion of assets under management, including $8.9 billion held on balance sheet.
It is cautious on retail sales in the short-term given the 2015 federal budget impact but expect specialty store sales to steadily improve, chief executive Angus McNaughton forecasted, as Emporium Melbourne comes on line.
It officially opened its $1.2 billion Emporium Melbourne<a href="/expert-insights/investing/the-emporium-melbourne-officially-opens-its-doors"> in Baz Luhrmann-produced extravaganza</a>.
The Emporium comprises 45,000 square metres of retail space.
It is forecast to deliver 5% yield on cost.
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jchancellor-FAypfDUnLy

Emporium Melbourne forecast to deliver 5% yield on cost for CFS Retail

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Tuesday night's episode of Location Location Location saw two buyers toss up between the two values every property player holds dear: property and location.
Bryce spent the episode helping out Laura and Marcus from Melbourne. The retro loving couple have been together for almost 11 years and have a three year old son, Archie. 
Formerly restless, with 10 moves in 10 years, the couple were keen to put some roots down - preferably in <a href="/news">Altona North</a>, where they were renting. They required a two to three bedroom house, with a big backyard for Archie. But most importantly, Marcus needed a sizable garage for his latest acquisition - a 1971 Valiant Regal, which he is in the process of restoring.
Unfortunately, after two years of looking, they'd had no luck. With both Laura and Marcus working for not-for-profit organisations, they were on a tight budget of $540,000. 
Bryce's first move is a trip to <a href="/news">Seabrook</a>, a new suburb 15 minutes further out from the CBD from Altona North, in Melbourne's west. Laura was skeptical of the area from the very start, despite a good school within walking distance. The new build house they visited had an asking price of $470,000, well within the couple's budget, and had a covered entertaining area with a small grassy backyard for Archie and garage space for the Valiant.
Although the house itself had plenty of pros, the distance from the city was a big con, especially for Laura - and so it became apparent that for this couple, it really was all about location, location, location.
Next stop was Altona, <a href="/expert-insights/investing/julia-gillard-set-to-move-back-to-adelaide-but-not-leave-altona-imminently">the one-time home of Julia Gillard</a>. Bryce had found a single storey three bedder with a large loungeroom, dining anrea and kitchen, with plenty of space for Archie. The house, which needed a little work, was also offered at $470,000 and was set to go to auction.
He also tracked down a house very close to home, in Altona North. The three bedroom house with separate dining and a garage preserved the home's original 60s features (a big plus for Laura and Marcus), but was in the shadow of a large refinery - no doubt a factor in the home's relatively modest $520,000 asking price. Though the couple were keen, they decided in the end that the backyard view of the refinery wasn't for them.
In the end, Bryce brought Laura and Marcus to another Altona North home - this time, far away from the refinery. With three good sized bedrooms, a garage and a substantial backyard, the single storey brick home on a 535 square metre block ticked all the boxes. The vendor was after no less than $510,000, but Bryce put in a strategic unconditional offer of $501,000, which did the trick, <a href="https://www.realestate.com.au/property-house-vic-altona+north-115977407">securing the home for Laura and Marcus</a> (pictured below).    
<img src="/images/2014/08/21/1.jpg" alt="">
Sydney sisters Jackie and Juliet found that house trumped location in their search for a home for Juliet. The sisters, originally from England, were hunting for a house for Juliet, with Veronica's help. Juliet has scoured the market for a house but is nervous about buying and hates auctions.
Five years on from the removal of a life-threatening brain tumour, she decided that it's finally time to settle down and get on with her life, and wanted to put down some roots. She was after a two bedroom home in an inner-western Sydney suburb with a village feel. She was keen on period homes, and dead set on a bath, with a $910,000 budget. 
Veronica first took the sisters to Luluville, a terrace cottage in <a href="/news">Rozelle</a> which dates back to the early 1900s. Outside, the home had a split level garden for entertaining, and was a snug fit. Jackie ruled that the home was too small, although it did fall within the budget, with a $800,000 price guide and a $850,000 plus estimate from Veronica. The sisters tossed up some renovation ideas, but couldn't figure out a price efficient way to make the house bigger.
Next they went to <a href="/news">Enmore</a>, where another terrace house offered a little more space. The solid double-brick home home made a good first impression for Juliet, and had original fireplaces. Currently occupied by tenants for another six months, the house had two bedrooms, a separate lounge and large eat in kitchen, with a $850,000 price tag. Unfortunately, with the auction only 48 hours after the sisters made the inspection, the home didn't make a strong enough impression to force them into action. 
The sisters also inspected a home in <a href="/news">Leichhardt</a>, another terrace. Unlike the other properties Juliet had walked through, this one had been renovated, with an extension upstairs. There was a "functional" backyard, a rather spartan, minimalist affair. Upstairs, the "spare room" was really a little mezzanine with a balcony, with no door but room for a single bed. According to Veronica, the questionable functionality of the upstairs spare room could just make the home's price attainable. It came with an $800,000 price guide.
Finally, the sisters travelled to <a href="/news">Erskineville</a>, only five kilometres from the city centre. The recently renovated home preserved some period features, with two upstairs bedrooms, and an open plan living and dining area downstairs, with a courtyard. However, the home had a small, galley style kitchen with limited storage - a major negative for Juliet. 
Vendors were accepting offers over $800,000 for the Erskineville home.
After some umming and ahhing, the sisters settled on Leichhardt, thanks to its good sized kitchen and small private balcony. Veronica put in a strong $850,000  bid after waiting til they arrived at the second week of the auction campaign, securing the home and saving Juliet from the dreaded auction process.
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jrichardson-uRX5hFdKfN

Location Location Location: The crucial compromise

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GUEST OBSERVATION
I never in my wildest dreams thought that I would be able to buy quality property in Sydney under $300,000…
But the GFC awarded me this moment in time that we absolutely took advantage of it. <a href="/news">Campbelltown </a>(Macarthur Shire) was the spot.
But why Campbelltown? It made for some great buying, simple!
The south-western Sydney location had all the ingredients of a great investing location with a fast growing population, great accessibility to employment in Sydney CBD or growing commercial and industrial sectors in Minto and Hoxton Park through either the M5 freeway or by train.
The last key ingredient was the GFC. This caused house prices to drop dramatically and consumer confidence to go out the window, allowing me to have no competition with other buyers and allow for some pretty low offers to secure some great deals.
This all happened for us in 2009. I was that confident in the area that I purchased eight properties there. Well, that’s all the past and now is what we want to all hear about, the results.
I am glad to say that we have had a few investors recently sell their properties in Campbelltown for what I would call “very impressive” results.
We were that confident, we even filmed the first property to be auctioned and it went better than expected!
The reason for some of our clients selling is to grab the profits they made from their investment property and pay down their home loan in a lump sum. Imagine having a home loan for $300,000, being able to drop $100,00 plus onto it in one go, making it $200,000.
Wouldn’t that increase your cash flow dramatically?
With a quick loan re-adjustment, it sure would!
But, you don’t stop there – now your cash flow has increased along with the available equity in your home, you go back out and buy two or three properties.
When two of those properties mature in value, you do the same and pay off your home loan in full!
Since this, we’ve had another great result with a client selling their house we purchased for $298,000 and sold for $412,000. 
Back to the story, I congratulate these investors doing what most wouldn’t – invest when everyone else ran away and they will reap the rewards for doing so.
TODD HUNTER is buyer’s agent, director and location researcher for Sydney-based <a href="https://www.wheregroup.com.au/" target="_blank">wHeregroup</a>.
He reached a personal investment portfolio of 50 properties in 2006 and has also started building an SMSF portfolio.
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The investors who bought when everyone else was running away are now reaping the rewards

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This week is full of announcements from some big Australian companies. Things are changing.
Two announcements come from BHP Billiton and AGL and both will have a big impact on the Hunter Region of NSW. Hopefully a positive change that will strengthen the local economies and translate to the housing market.
As you all know, property is my number one choice of investment strategy. In contrast, my share market investment experience is pretty limited. In fact, I can nail it down to two things; watching what my managed superannuation fund does and sitting around a table with a group of girlfriends drinking wine and having a little bit of input into the allocation of my investments in our Kash Kow funds.
The Kash Kows was formed about 10 years ago when a few women decided we should build our investments and have a bit of fun trying to figure out how the stock market works. We all throw in $25 per month then when there is enough money in the kitty, make some (usually) dodgy decisions on what we buy. We do try and get in 'guest speakers' ply them with alcohol and nibblies then hit them up for a tip. Other times we will actually do some real  research to work out what company to invest in. We started as 'share traders' which quickly turned to 'share investors' when none of us had time to watch the daily fluctuations of the share market and actually do the trades.
Luckily for us we had purchased BHP long ago at about $12 a share. While I can safely say we are nowhere near their major shareholders, I do take an active interest in what BHP do, particularly in the Hunter.
'BHP's demerger sees it keep it's Hunter Valley coal mines' read one headline that caught my eye this week.  With the big company deciding to split their interests and assets into two, I wondered what was their criteria in choosing which would stay with BHP and which would be 'spun out'.
Recently BHP was able to boost exports and cut costs sufficiently to overcome the slide in commodity prices. Its current share price is reflecting this. So are the vacancy rates in <a href="/news">Muswellbrook </a>and <a href="/news">Singleton</a>. Cutting costs meant letting go of contractors and downsizing some divisions.  However productivity so it seems, has never been so good.
I read it's the first time in three years that BHP has improved profits year-on-year. This has been achieved despite prices for some of BHP’s most important commodities – particularly iron ore and copper – trending lower during the 2014 financial year.  They seemed to have ramped up their volume in coal.
BHP has said it would include its Illawarra metallurgical coal business in NSW in the demerged group, but would be hanging on to its thermal coal assets in the state’s Hunter Valley. Metallurgical coal is less abundant than thermal coal and is primarily used in the production of coke, which is an important part of the integrated steel mill process. 
“In a single step, we will significantly increase BHP Billiton’s focus on the exceptionally large resource basins that underpin its competitive advantage. As we move towards a simpler portfolio, comprised of our pillars of Iron Ore, Copper, Coal, Petroleum and potentially Potash, we will become a higher-margin, higher-return business..." said BHP Billiton Chief Executive Officer Andrew Mackenzie.
My interpretation of this change is a sign of confidence from the company in the coal mines of the Hunter Valley.
The other big 'change' announcement this week was the AGL and Macquarie Generation (MacGen) owned by the NSW State Government acquisition. The deal covers the Bayswater and Liddell power stations near Muswellbrook, the Liddell solar farm, the Hunter Valley gas turbine near Liddell, the development site ‘‘Bayswater B’’ for a new base load power station four kilometres west of Bayswater, and the Tomago generation development.
From the proceeds, about $700 million is expected to go into the government infrastructure fund Restart NSW to fund high priority future infrastructure projects across NSW like schools, rail, roads and hospitals. The <a href="https://www.hunterinfrastructure.nsw.gov.au/About.aspx" target="_blank">Hunter Infrastructure &amp; Investment Fund</a> will benefit from this.
AGL says there are many strategic benefits to this purchase and plans to spend $405 million over four years on revised maintenance and upgrades at its Liddell and Bayswater plants.
Hopefully this change and investment will also trickle down into the local economies.
And so I ponder on these two large change projects and have to agree with George Bernard Shaw that "Progress is impossible without change".
<a href="https://www.propertybloom.com.au" target="_blank">www.propertybloom.com.au</a>
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Change is coming to the Hunter Valley

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It’s fair to say that the name Baz Luhrmann is not exactly synonymous with restraint.
The Australian director best known for pulling off meticulous and extravagant displays of debauchery in films such as The Great Gatsby, Moulin Rouge and Romeo + Juliet, brought his trademark touch to the grand opening of Melbourne’s Emporium shopping centre last night.
The $1.2 billion centre in the shell of the former Lonsdale Street Myer building was looking suitably glamourous for the event's 1,500 attendees.
The opening came at a great time for the centre’s owners, CFS Retail Property Group, who just announced a $400 million net profit for the 2014 financial year.
International retailers Top Shop and Uniqlo are among the tenants who have been welcoming customers for a few months preceding the launch. Though a few of centre's tenants are still waiting to open, the 225 retail spaces at Emporium are fully leased.
Luhrmann's vision for the opening was a "reimagined" Melbourne. While the opening event's giant tennis ball, beneath a cavorting acrobat, was a nod to the Australian Open, and a pink and purple horse sculpture a tip of the fascinator towards the spring racing carnival, other features of the launch had more tenuous links to the city.
<img src="/images/2014/08/21/26.jpeg" alt="">
Choreographed dancers wearing soldier and nurse costumes? A stretch.
<img src="/images/2014/08/21/3.jpeg" alt="">
A slick band seemingly swimming amongst a sea of gladioli? Not so sure…
<img src="/images/2014/08/21/2.jpeg" alt="">
Roller skating waiters eager to top up your glass of champers? I’ll roll with it.
The efforts certainly impressed attendees, including swimmer Michael Klim, singer Natalie Bassingthwaite and pyjama designer Peter Alexander. Property Observer also noted the attendance of The Block Glasshouse’s Darren and Dee.
However, Luhrmann was undoubtedly the star of the show. On a tour of the party, the director was mobbed by attendees, who had no doubt forgotten the nearly three hour ordeal that was Australia.
<img src="/images/2014/08/21/10625049_10152411629248640_3586282144434533793_n.jpg" alt="">
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Baz Luhrmann opens Melbourne's Emporium in a riotous glitzy affair

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Super Retail Group, owner of brands including Rebel Sport and Supercheap Auto, has reported a 5.6% jump in profits for 2014.
The retail group’s net profit after tax rose to $108.4 million, while revenue lifted by 4.6% to $2.11 billion.
Super Retail Group managing director and chief executive Peter Birtles said in a statement the result, while in-line with forecasts, reflected mixed performance across the group.
Birtles said the auto retailing division was an outstanding performer with around 10% growth, but the company’s leisure and sports retailing arms had lagged.
“In the leisure retailing division, the BCF business was impacted by a slowdown in sales in stores that had previously benefited from investment in the mining industry,” said Birtles.
“The sports retailing division had a solid start to the year but performance was impacted by inventory supply challenges resulting from the implementation of new merchandise and supply management systems in October and from a slowdown in customer demand following the federal budget and a warmer start to winter.”
This article first appeared on <a href="https://www.smartcompany.com.au/" target="_blank">SmartCompany</a>.
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Super Retail Group reports 5.6% jump in profits

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Australia’s million dollar property club hit new heights this year in what can only be described as an explosion in the number of suburbs nationally with a median value in excess of $1 million over the past year.
Sales data to June 2014 confirmed that there are now 417 suburbs nationally which boast a median value of $1 million or more, up from a healthy 312 for this time in 2013.
While Sydney claimed majority market share to make it to the million dollar club with 22 suburbs ranked in the top performing list out of 25, while Perth had two suburbs and Melbourne had just one.
<img src="/images/2014/08/21/rp-data-aug-21-one.png" alt="">
RP Data’s July combined capital city home values index shows that values increased by 10.2% over the 12 months to July 2014. As a result of robust growth, the cost of housing has increased and subsequently, there was a significant increase in the number of suburbs with a median value of $1 million or more.
As at June 2014, there were 397 suburbs nationally with a median house value of $1 million or more and 20 suburbs for units. The 417 total suburbs with a median value of $1 million or more is the highest number over the past five years.  
The number of suburbs with a million dollar price tag for houses increased by 104 over the past year while for units; the number is up by five. New South Wales in particular recorded the most substantial increases in million dollar suburbs over the past year.  
The number of New South Wales suburbs with a median value of $1 million or more is up 42% over the year.  Across the other states, there’s been a 24% rise in Victoria, 25% rise in Queensland, 44% rise in South Australia, 22% rise in Western Australia, no change in the Northern Territory and a -11% fall in the Australian Capital Territory. Tasmania has zero suburbs with a median value of $1 million or more.  
The large rise in the number of suburbs with a median value of $1 million or more in New South Wales is reflective of the strong home value growth in the Sydney over the past year.  
Over the 12 months to July 2014, Sydney home values have increased by 14.8%. Proportionately, Sydney suburbs comprise 61% of all $million plus suburbs nationally followed by Melbourne at 14% and Perth at 12%.
Of most significance from today’s million dollar findings, is the rise in the number of suburbs with a median value of more than $2 million. Last year 37 suburbs had a median value of $2 million or more while in June of this year, the number of suburbs had increased to 42.
Clearly, low mortgage rates are creating a surge in market activity. This encourages people to look to upgrading to bigger homes and in more ideal locations. We’re seeing a large slice of this activity taking place within the higher-end of the housing market and as a result, propelling home values higher and into the million dollar realm.
Looking at the suburbs with the highest national median value, Sydney’s <a href="/news">Point Piper</a> remains as the nation’s most expensive housing market.  As at June 2014, houses in Point Piper had a median value of almost $5.7 million. <a href="/news">Woolwich </a>in Sydney was not far behind with a median value of $5.5 million.
Of the 25 suburbs with the highest median value, all suburbs listed were for houses rather than units.  Twenty two of the 25 suburbs listed were in Sydney with one in Melbourne and two in Perth.  
<img src="/images/2014/08/21/rp-data-aug-21-two.png" alt="">
The results show that higher values, particularly in Sydney is becoming more prevalent.  With mortgage rates low and tipped to remain low we would expect that in 12 months’ time we will have even more suburbs with a median value of $1 million or more.  Although we anticipate the rate of value growth is likely to slow over the coming year, we do expect further increases.
A rise in suburbs with a million dollar plus price tag is great for those who own a home in these areas. For those that don’t, it highlights that these buyers have fewer housing options and continue to be pushed further away from the city centre where most of these homes in excess of $1 million are located. 
Photo courtesy of Wikimedia Commons.
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