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?

When buying an apartment, most people compare the big-ticket items first. Floorplans. Kitchens. Balcony size. Natural light. The view.

But there's one everyday consideration that often doesn't come up until after moving in: how parcels are delivered.

As online shopping has become part of everyday life, parcel deliveries have shifted from an occasional event to a regular occurrence. Australians spent a record $82.6 billion shopping online in 2025, with almost one in every four retail dollars now spent digitally.

For apartment residents, that can present a challenge.

If nobody is home to accept a delivery, parcels may be redirected to a nearby Post Office, left in a building lobby or common area, or require building management to step in. In higher-density buildings, where dozens or even hundreds of residents may receive deliveries each day, parcel management has become an increasingly important part of everyday living.

That can create a range of frustrations. A missed delivery often means making time to collect a parcel elsewhere, while packages left unattended in foyers or mail areas can create clutter and increase the risk of theft. What seems like a minor inconvenience can quickly become a recurring issue for residents who shop online regularly.

It's one of those details that rarely features in a display suite but can have a noticeable impact once residents move in.

As a result, buyers are beginning to look beyond traditional apartment features and consider how a building supports day-to-day convenience, including whether there are secure options for receiving deliveries.

Australia Post's Parcel Lockers provide one solution.

<iframe allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" allowfullscreen="" frameborder="0" height="315" referrerpolicy="strict-origin-when-cross-origin" src="https://www.youtube.com/embed/CkF2oKmlACg?si=C50sDaoUUn2nuLmq" title="YouTube video player" width="560"></iframe>

Rather than having a parcel delivered directly to an apartment, eligible deliveries can be sent to a nominated Parcel Locker. Once the parcel arrives, residents receive a notification through the AusPost app or SMS and can collect it using a QR code or one-time PIN at a time that suits them.

The Parcel Locker network now includes more than 1,500 locations nationwide, with installations at Post Offices, shopping centres, transport hubs and an increasing number of residential developments. By providing a secure collection point, Parcel Lockers help reduce missed deliveries and avoid parcels being left unattended in common areas.

For developers, parcel infrastructure is becoming another way to improve the resident experience. Rather than relying on concierge staff or leaving parcels in communal spaces, secure collection points help streamline deliveries while preserving the presentation and functionality of shared areas.

For buyers, it's a reminder that the best apartment features aren't always the most obvious.

A generous floorplan or quality finishes might help narrow the shortlist, but the conveniences that simplify everyday life, whether that's EV charging, secure bike storage or reliable parcel delivery, often become the features residents appreciate most once they're living there.

The apartment feature many buyers don't think about, until their first missed delivery

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For much of the past two years we have seen a great deal of hand-wringing and uncritical reporting of ABS first home buyer figures, with countless media articles noting the apparent disappearance of first time buyers due to their being crowded out of the market by greedy Baby Boomer speculators.
It has been a compelling narrative, to be sure, but has been shown either to be a partial misunderstanding of market dynamics by theorists, or a prolonged exercise in confirmation bias.
As documented here and elsewhere many times previously, first time buyers never really disappeared.
What can be said is that over recent times the marginal buyer of property in our largest capital cities has altered significantly.
Anyone who works in the Sydney property market would know that many of those so-termed "speculators" have in fact been first time buyers themselves, oftentimes choosing to buy an investment property as their first step on the housing market ladder.
I cannot realistically speak for the Melbourne market being an infrequent visitor south of the border, but can only imagine that similar trends have been playing out there.
If you want to reduce the argument to semantic debate, you might say that first time investors are not buying "homes", but, whatever, they never went on strike.
The most populous cities have also being our strongest property markets, so for those listening to the data then the conclusions should have been obvious enough.
Theorists schooled by NAB data
The latest <a href="https://business.nab.com.au/wp-content/uploads/2015/04/Quarterly-Australian-Residential-Property-Survey-Q1-2015-PDF202KB.pdf" target="_blank">NAB residential property survey</a> for Q1 2015 was released last week.
It confirmed that more than a quarter of established properties continue to be purchased by a combination of first home buyers (15.8% in Q1 2015, down from 16.1% in Q4 2014) and first time investors (making up 10% of purchases).
 <img src="https://2.bp.blogspot.com/-979URyOQ_HU/VT4KFx5oxdI/AAAAAAAAU4o/hfdfjzgW0e4/s1600/FHBs.jpg">
 
Source: NAB
Trends in new residential property developments were once again broadly similar, with first timer buyers also accounting for around a quarter of sales.
Even more damningly a recent Domain survey found that 16% of "Gen Y" folk own two or more properties, which is almost as high a share as the "Gen Xs" (17%), or even the Baby Boomer generation who had apparently locked them out of the market (17%).
So much for the greedy old farts "devouring their young"!
It has rather more been a case of dog eat dog, or what is otherwise known as a "market".
This merely underscores the fallacy of dividing up Australia into convenient generational groups and stereotypes.
In the real world there are at least two score and 10 shades of grey, and markets are infinitely more complex and granular.
What this means...consequences?
There was also a theory doing the round some years ago that the disappearance of the first home buyer could cause the property markets to collapse in upon themselves, as the base of the real estate pyramid dissipated.
This has not proven to be the case - at least, not yet - with many first time investors favouring lower priced property with its more affordable entry points and potentially stronger yields.
However, these shifts being seen in our capital city markets may yet have unforeseen consequences.
First and foremost, the increased roles of the investor and the first-time investor have the potential to amplify the property market cycles, both on the way up and on the way down.
Who and what drives prices?
It has long been argued that unemotional and calculating investors don't push up property prices, while emotion-driven home buyers do.
There was probably an element of truth in this in times past.
Certainly it can be said that countries with high home ownership rates have also historically been more prone to boom-bust cycles, for where the status of home ownership is considered to be an essential, would-be buyers can on occasion stretch themselves to extreme lengths.
However, the first hand evidence I have seen tells me that investors today can push home prices higher just as much as home buyers can.
Why would a rational and calculating investor be prepared to bid high for a property?
Simply because within an illiquid market it may be another month or three before they have a further opportunity to buy, and in a hot or rising market environment they may fear paying $5,000 more for the privilege of so doing.
Downturn phases
A greater number of investors in the market could amplify the downturn phase of the property cycle too with some investors inclined to dash for the exits when prices are declining.
In reality, trading property frequently as is so often recommended by investment advisers and property writers is highly impractical due to prohibitive transaction costs, and a large number of investors instead look to adopt a long term buy and hold approach.
Greater volatility is most likely to be experienced in smaller property markets where volumes are thin, and indeed we have already seen some extreme examples in certain mining towns.
<a href="https://petewargent.blogspot.com.au/2013/11/planning-land-prices-and-house-prices" target="_blank">Experienced</a> housing market economists have long recognised that the larger property markets can often be more stable and far less impacted by increases in supply - even dramatic increases in supply.
The property markets of Melbourne have been an excellent case in point, refusing to crash despite an oversupply of experts insisting that they must, due to overbuilding and an excess of high rise stock.
Another trend which we might expect to see is that of a shorter market cycles, particularly in this modern era of instant gratification.
Perhaps to a certain extent this is already true, with Australia having experienced a number of mini-cycles over the past decade.
That said, this is likely also in part illusory, with the ebbs and flows of property cycles in times past masked by an economy which was off to the inflationary races.
In today's era of low interest rates and low inflation we should expect to see property prices falling in nominal terms far more frequently than was ever the case in times of higher or even raging inflation.
PETE WARGENT is the co-founder of <a href="https://allenwargent.com/" target="_blank" rel="nofollow">AllenWargent</a> property buyers (London, Sydney) and a best-selling author and <a href="https://petewargent.blogspot.com/" target="_blank" rel="nofollow">blogger</a>.
His book '<a href="https://www.bigskypublishing.com.au/Books/General-Interest/Four-Green-Houses--and-a-Red-Hotel/1015/productview.aspx" target="_blank" rel="nofollow">Four Green Houses and a Red Hotel</a>' is out now.
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pwargent-M4siyDbqQY

NAB survey debunks first home buyer strike: Pete Wargent

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If someone with an aura of credibility told you city prices were growing at 2.4 times the rate of regional prices, you’d concentrate on capital cities for investment. Right?
Sure you would, particularly if you wanted to join the 75% of investors who have a bad experience in property investment. Absolutely you would, if you were among the vast majority of investors who are driven by the herd mentality and buy in the wrong places. Certainly you would, if you’re destined to be among the 73% of investors who never get beyond owning one property.
Through email, phone, webinars and face-to-face at workshops and seminars, I have a lot of contact with Australian investors. And most of them make their buying decisions based on impressions generated by media sound bytes. Very few do any genuine, independent research.
The information about capital city house prices versus regional prices is a timely case study in the media-created misinformation that causes people to make bad choices.
Here’s what it says: Capital city house prices are growing twice as fast as regional prices.  In NSW, the median metropolitan house price rose 13.4% in the past 12 months, while the median country house price rose 5.6% to $385,000. In Victoria’s median metropolitan house price increased 6.6% to $550,000, while the median country house price rose 2.5% to $200,000. In South Australian prices grew 5.1% to $426,000 in the city and 1.8% to $290,000 in the country. And so on, through the other states and territories. And this is what media reported, publishing the press release without any analysis or interpretation or alternative viewpoint.
I know, with great certainty based on decades of experience, that one day quite soon someone will send me an email or approach me after a seminar presentation and quote those figures as the reason they’ve decided to stick with big city investing.
The only useful thing this “research” shows us is that buying in the regions has appeal because it’s so much cheaper than capital cities. We know from other research that regional centres have much higher rental yields than the major cities (generally speaking – you need to delve deeper for specific data). The only area where reassurance is needed is capital growth prospects.
The published figures don’t tell us anything useful on that subject, because they portray results for one 12 month period (meaningless information to a switched-on investor) and because they are generalised figures which conceal the best performers in property.
I know from the regular analysis we do at Hotspotting that the best locations for long-term capital growth rates are in the regions. The top 10 locations for the best growth averages over 10 years are all regional centres. Some of them are resources-related centres, still leading the nation despite the decline in the past couple of years.
(I’m definitely not advocating investment in mining towns – just making the observation that some of the best long-term growth rates in the nation have been mining towns, most of which are no longer performing on price growth or rental returns).
A friend recently asked me for some figures about Adelaide to make a point to a colleague of his, who believed upmarket Unley would have a much better capital growth rate than outer suburbs, because it was close to the CBD. This encapsulates one of real estate’s most enduring myths.
I came up with a long list of middle ring and outer ring suburbs with much better capital growth rates than Unley - which, at 5%, has a modest growth average.
But I also confirmed that the best growth rates in South Australia were even further from the CBD. They were way out in the vast regions of that state, where numerous distant regional centres have capital growth rates above 8% per year, well in excess of those in the capital city. They include Ceduna, Coober Pedy, Port Augusta and the best performer in South Australia, Whyalla.
But if you took an average or median across all of regional South Australia, you would come up with a low figure, because there are plenty to depressed regional towns to drag down the generalised figure.
You could wallpaper a McMansion with all the articles written about Sydney’s boom, but you need to go outside the capital to find the best recent growth in NSW. In the City of Gosford, 10 suburbs have recorded median price growth above 15% in the past 12 months, including some above 20%. There has been exceptional growth, also, in locations in the Blue Mountains and around Wollongong.
In Queensland, where the Brisbane market is gradually rising, you need to head 1,700 kilometres north of the Brisbane CBD to find the state’s best growth of the past 12 months. Several suburbs of Cairns have recorded median price growth above 20%.
Other regional markets that have been out-performing Brisbane include the Sunshine Coast and Toowoomba. But an average figure across all regional cities and towns would be low, dragged down by the many resources-related centres which are currently in decline.
The generalised data spewed forth by the publicity-hungry research houses often deceives, because there’s no depth to the numbers and no analysis or oversight.
To be successful, investors need to dig beneath the shallow media numbers to find the best places to buy. Sadly, few do so and end up making decisions based on misinformation.
TERRY RYDER is the founder of <a href="https://hotspotting.com.au/" target="_blank">hotspotting.com.au</a>. You can <a href="https://mailto:ryder@hotspotting.com.au" target="_blank">email him</a> or follow him on <a href="https://www.twitter.com/hotspotting" target="_blank">Twitter</a>. 
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terryryder-YECXbqmri2

Investors need to dig beneath the shallow media numbers to find the best places to buy: Terry Ryder

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As a result of the Anzac Day commemorations on Saturday, which is traditionally the busiest day for auctions, it was a quiet week for auction activity.
There were 550 auctions held across the combined capital cities this week, with a preliminary auction clearance rate of 84.3%. While this is the highest auction clearance rate on record, it is likely that the clearance rate will revise down as the remaining auctions are reported.
Last week, a clearance rate of 78.9% was recorded across 2,603 capital city auctions. At the same time last year, auction volumes were higher than this week, but still low off the back of Easter, with 881 properties taken to auction and a clearance rate of 64.6%.
<a href="https://blog.corelogic.com.au/wp-content/uploads/2015/04/20150426-Capital-City.jpg" rel="wp-prettyPhoto[g4541]"><img class="aligncenter size-full wp-image-4543" src="https://blog.corelogic.com.au/wp-content/uploads/2015/04/20150426-Capital-City.jpg" alt="20150426 Capital City" width="974" height="738"></a>
In Melbourne, Australia’s largest auction market, a preliminary auction clearance rate of 87.4% was recorded across 169 auctions this week. Last week, Melbourne’s final clearance rate was recorded at 79.5% across 1,266 auctions, while this time last year, 373 properties were taken to auction across Melbourne and a clearance rate of 63.0% was recorded. The busiest Melbourne sub-regions this week were Melbourne’s Inner region and the Inner South region, where 27 and 26 auctions were held respectively.
<a href="https://blog.corelogic.com.au/wp-content/uploads/2015/04/20150426-Melbourne.jpg" rel="wp-prettyPhoto[g4541]"><img class="aligncenter size-full wp-image-4544" src="https://blog.corelogic.com.au/wp-content/uploads/2015/04/20150426-Melbourne.jpg" alt="20150426 Melbourne" width="978" height="661"></a>
Sydney’s preliminary clearance rate this week was 91.9% across 192 auction results. There were a total of 249 auctions held across the city. Excluding this week, last week’s clearance rate of 87.0% across 988 auctions was the highest clearance rate on record for the city. It will be interesting to track this week’s final auction clearance rate once the remaining results have been reported.
Looking back at this weekend last year, 361 auctions were held across Sydney and a clearance rate of 71.3% was recorded. Sydney’s Eastern Suburbs hosted the most auctions of any Sydney sub-region this week, with 62 properties taken to auction. The preliminary clearance rate for the region is 95.7% across 47 results.
<a href="https://blog.corelogic.com.au/wp-content/uploads/2015/04/20150426-Sydney.jpg" rel="wp-prettyPhoto[g4541]"><img class="aligncenter size-full wp-image-4545" src="https://blog.corelogic.com.au/wp-content/uploads/2015/04/20150426-Sydney.jpg" alt="20150426 Sydney" width="982" height="667"></a>
There were 39 Brisbane auctions this week and so far 11 results have been reported, with 10 sales. Last week, auction volumes across the city were much higher with 140 auctions held across the city and a 46.4% clearance rate recorded.
Much like Brisbane, the number of homes taken to auction this week fell across the Gold Coast with 32 properties up for sale this week. Of the 21 results reported, just over half (52.4%) were successful.
<a href="https://blog.corelogic.com.au/wp-content/uploads/2015/04/20150426-Brisbane.jpg" rel="wp-prettyPhoto[g4541]"><img class="aligncenter size-full wp-image-4547" src="https://blog.corelogic.com.au/wp-content/uploads/2015/04/20150426-Brisbane.jpg" alt="20150426 Brisbane" width="981" height="650"></a>
A total of 59 Adelaide homes were taken to auction this week, with a preliminary clearance rate of 55.0% across 20 results, down from 69.7% last week when 97 auctions were held across the city.
<a href="https://blog.corelogic.com.au/wp-content/uploads/2015/04/20150426-Adelaide.jpg" rel="wp-prettyPhoto[g4541]"><img class="aligncenter size-full wp-image-4546" src="https://blog.corelogic.com.au/wp-content/uploads/2015/04/20150426-Adelaide.jpg" alt="20150426 Adelaide" width="978" height="655"></a>
In Perth, just 10 auctions were held this week. So far, only 2 successful sales have been reported to CoreLogic RP Data. Last week, the final auction clearance rate for Perth was 28.6% across 36 auctions.
Canberra’s clearance rate was 78.6% this week, up from 65.6% last week.
There was only 1 Tasmanian auction held this week. The property was reported as sold.
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smiller-vwPjRHTkST

Auction volumes drop due to Anzac Day commemorations: Shana Miller

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Climbing home prices in Melbourne and Sydney have resulted in declines in Moody's home affordability measure despite low interest rates. Moody's also noted Melbourne and Sydney's "problematic" large loan sizes.
Households across Australia needed to use 27% of their income, on average, to make home mortgage repayments. The same ratio was recorded in March last year.
Click charts to open in new window:
<a href="/images/2015/04/27/moodys-april-27-one.jpg" target="_blank"><img src="/images/2015/04/27/moodys-april-27-one.jpg" alt=""></a>
In Sydney, however, households are using 35.1% of their income to make their mortgage repayments. In March 2014, Sydney households were putting 32.8% of their income towards their mortgage. March 2015's result is also higher than the city's 10 year average of 33.6%.
<a href="/images/2015/04/27/moodys-april-27-two.jpg" target="_blank"><img src="/images/2015/04/27/moodys-april-27-two.jpg" alt=""></a>
In Melbourne, mortgage affordability has also declined, with the share of income needed to make mortgage repayments increasing to 28.2% in March this year from 27.5% at the same time last year.
The Moody's Australian Housing Affordability Measure has remained constant on a national level, in part due to low interest rates. In Perth, affordability measures improved, due to declining home price, with the measure decreasing from 24.6% to 21.9%. Moody's noted Perth's exposure to falling commodity prices in its report.
The report called the affordability deterioration in Melbourne and Sydney "credit negative for new mortgage loans from these cities".
"The larger loan sizes and repayment obligations of new mortgages in Sydney and Melbourne are especially problematic since these mortgages are being underwritten at historically low interest rate," the report reads, noting an average Australian standard variable mortgage rate of 5.65%, while the 10-year average is 7.18%.
"Our forecast is for the RBA to cut the official cash rate - a key determinant of mortgage interest rates - by a further 25 basis points to 2% in 2015.
"However, borrowers who took out loans at historically low interest rates are at a greater risk of not being able to afford repayments when interest rates eventually rise.
"By contrast, mortgages underwritten at higher interest rates pose lower risk when interest rates rise, because borrowers' ability to service these loans has been assessed at higher interest rates."
Although there has been pronounced price increases in Melbourne and Sydney over the past two years, income growth has remained "modest", writes Moody's.
<a href="/images/2015/04/27/moodys-april-27-three.jpg" target="_blank"><img src="/images/2015/04/27/moodys-april-27-three.jpg" alt=""></a>
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jrichardson-uRX5hFdKfN

Affordability "deteriorating" in Melbourne and Sydney: Moody's

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Vendors shied away from auctions this weekend out of respect for Anzac day commemorations.
According to CoreLogic RP Data, there were 550 auctions across Australian capital cities in the week to April 26. Last week, there were 2,603 capital city auctions.
There were around 150 auctions actually scheduled across Australia on Anzac Day, with many sold before auction.
<img src="/images/2015/04/27/core-april-27-one.jpg" alt="">
This week's auctions saw a capital city clearance rate of 84.3%, up from last week's 78.9% clearance rate.
Sydney recorded an a particularly high clearance rate of 91.1% over the week. There were 249 auctions there in total, with RP Data collecting results for 192 of those auctions. The clearance rate, likely bolstered by the low number of auctions on the weekend, comes after a record breaking 87% clearance rate in Sydney last week, when 988 auctions took place.
On week last year, which did not have Anzac Day fall on a Saturday, Sydney recorded a 71.3% clearance rate.
There were 169 auctions in Melbourne this week, with a clearance rate of 87.4%. Last week, 1,266 auctions occurred across Melbourne, with a 79.5% clearance rate. Melbourne's inner city and the inner south region were particularly busy this week, despite the Anzac day commemorations, with around 26 auctions occurring in each area.
<img src="/images/2015/04/27/core-april-27-two.jpg" alt="">
Last week, Victorian premier Dan Andrews called conducting auctions on Anzac Day "<a href="/news/reiq-says-agents-ought-not-trade-on-anzac-day-while-victoria-likely-to-introduce-ban">pretty ordinary</a>", while the Real Estate Institute of Victoria discouraged agents from auctioning properties on the day.
In Brisbane, there were 39 auctions. Of the 11 results reported so far to CoreLogic RP Data, 10 were sales. The previous week, there were 140 auctions held across the city, with a 46.4% clearance rate. The Gold Coast recorded 32 properties up for sale, with sales comprising around half of the reported results.
The Real Estate Institute of Queensland also instructed members to avoid auctioning homes on Anzac Day.
Adelaide had 59 auctions scheduled for this week. So far, 20 results have been reported to CoreLogic RP Data, with a 55.0% success rate. Last week, there was a 69.7% clearance rate across the city's 97 auctions.
Just 10 auctions took place in Perth this week, with just two results reported. In Canberra, there were 23 auctions, with 11 of the 14 reported auctions resulting in success.
Just one Tasmanian property was auctioned this weekend, resulting in a sale.
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Buyers keen to bid on 550 capital city Anzac week auctions: CoreLogic RP Data

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There were 9,362 private treaty house sales and 4,973 private treaty unit sales across the capital cities in the past four weeks, according to CoreLogic RP Data.
<img src="/images/2015/04/27/Picture%2061.png" alt="">
Source: CoreLogic RP Data
Private treaty sales generally represent around 85% of all dwelling sales across the country. However, in the most recent period they may have made up a greater proportion sales, given that most avoided auctioning their homes on Anzac day. There were around 150 auctions actually scheduled across Australia on Anzac Day, with many sold before auction.
<img src="/images/2015/04/27/Picture%2062.png" alt="">
Source: CoreLogic RP Data
Only 550 auctions occurred this week, according to CoreLogic RP Data's preliminary figures.
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14,335 capital city private treaty sales in past four weeks: CoreLogic RP Data

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The four renovated Block South Yarra apartments that go to auction this week cost $5.69 million when bought in one line in March last year.
There were three bidders, who pushed it to $570,000 over reserve price.
It was bought by The Block production company, Watercress Productions who faced competition from the omnipresent buyer's agent Frank Valentic.
The onsite auction was conducted by Beller Residential's<a href="https://www.youtube.com/watch?v=p5-96mG0oLs" target="_blank"> auctioneer Robert German</a>.
{qtube vid:=p5-96mG0oLs}
The 27 Darling Street property was a three level brick apartment complex which includes 12 apartments (three two bedroom units, three one bedroom units) with 12 undercover parking spaces.
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jchancellor-FAypfDUnLy

The Block's South Yarra initial purchase auction

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The Surry Hills Shopping Village has been sold for around $100 million.
The vendor bought it for $6.3 million 30 years ago when it was a mall on the old Wunderlich factory site.
The redevelopment potential of the village at 2-40 Baptist Street and 397-399 Cleveland Street saw strong buyer interest, the Sydney Morning Herald commercial property editor Carolyn Cummins reported.
It was listed through Scott Timbrell and Jeff Moxham of <a href="https://www.realcommercial.com.au/property-land+development-nsw-surry+hills-501482783" target="_blank">Ray White Commercial</a> with a current gross passing income from a number of tenancies of $4.3 million a year.
It was marketed as a significantly underdeveloped parcel of land totalling approximately 12,322 square metres.
Sydney Local Environment Plan (LEP) 2012 provides for mixed use development (STCA) with a floor space ratio (FSR) of 2:1 for 2-38 Baptist St and 397-399 Cleveland St with an FSR of 1.25:1 for 40 Baptist St at the rear of the site anchored by a Coles supermarket.
It was 1992 when the shop owners at Redfern Mall voted to change the name to Surry Hills Shopping Village.
Although the site is technically in Redfern, shop owners believed they were missing out on business because of geographical confusion.
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Surry Hills Shopping Village sells for around $100 million

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The Australian Bureau of Statistics (ABS) released Consumer Price Index (CPI) data for the March 2015 quarter recently.
The data showed that over the quarter, headline inflation was recorded at 0.2% taking annual inflation to 1.3%. The Reserve Bank’s (RBA) preferred measures of underlying inflation, the trimmed mean and weighted median, were recorded at an annual rate of 2.3% and 2.4% respectively. Headline inflation is well below the RBA’s target range of 2% to 3% however, underlying inflation is towards the bottom of the RBA target range.
From a housing market perspective, it is useful to understand the real change in home values. We all know that the Sydney market is recording strong rates of value growth at the moment while most other capital cities are seeing more moderate growth. When you take the impact of inflation into consideration, growth is generally much more tepid.
<img class="aligncenter size-full wp-image-4534" src="https://blog.corelogic.com.au/wp-content/uploads/2015/04/Chart-14.jpg" alt="Chart 1" width="500" height="181">
Over the 12 months to March 2015, nominal home values across the combined capital cities increased by 7.4% however, including inflation, real home value increases have been recorded at 6.0%.
Across the individual capital cities, real home value growth over the past year has been below 1.5% in all cities except for Sydney (12.5%) and Melbourne (4.2%).
<img class="aligncenter size-full wp-image-4535" src="https://blog.corelogic.com.au/wp-content/uploads/2015/04/Chart-25.jpg" alt="Chart 2" width="500" height="498">
When you compare the annual change in real capital city home values to the 10 year real annual change it shows that only Sydney, Melbourne and Brisbane are outperforming the decade average. Elsewhere real home values have increased at a rate which is below the decade average.
<img class="aligncenter size-full wp-image-4536" src="https://blog.corelogic.com.au/wp-content/uploads/2015/04/Chart-33.jpg" alt="Chart 3" width="500" height="182">
Over the past five years, real combined capital city home values have increased by 1.2% per annum compared to 2.2% per annum over the past decade and 4.3%pa over the past 15 years.
Over the past five years, real home values have increased at a rate of 4.0% per annum in Sydney and by 1.3% per annum in Melbourne. Every other capital city has recorded real value falls over the period with values down -2.3% per annum in Brisbane, -1.3% per annum in Adelaide, -1.0% per annum in Perth, -3.9% per annum in Hobart, -1.6% per annum in Darwin and -1.2% per annum in Canberra.
Even over the past 10 years home values have fallen in real terms in Hobart whilst they have recorded gains elsewhere. Over the longest time frame shown, 15 years, Perth has recorded the strongest annual value increases at 5.5% per annum, followed by: Melbourne (5.0% per annum), Brisbane (4.8% per annum), Hobart (4.7% per annum), Canberra (4.6% per annum), Adelaide (4.5% per annum), Darwin (4.2% per annum) and Sydney (3.5% per annum).
<img class="aligncenter size-full wp-image-4537" src="https://blog.corelogic.com.au/wp-content/uploads/2015/04/Chart-43.jpg" alt="Chart 4" width="500" height="179">
One of the features of the capital city housing market has been the strength of growth in home values across Sydney and Melbourne since the end of 2008 following value falls during the financial crisis in 2008. From December 2008 to March 2015 nominal home values have increased by 40.2% however, in real terms value growth is much more moderate at 18.2% over the period. Over this period real home values have recorded falls in Brisbane, Adelaide and Hobart while Perth, Darwin and Canberra have each recorded real home value growth of less than 10%. Only Sydney (42.0%) and Melbourne (26.9%) have recorded any significant real increases in home values over the period.
Earlier this week RBA Governor Glenn Stevens noted that there is generally too much attention on the Sydney housing market which ignores the 80% of Australians that don’t live in that city. Looking at the real change in home values really highlights this point; value growth has been comparatively very strong over recent years in Sydney, while most cities have actually recorded real declines in values.
What’s also interesting is that although Sydney is seeing a strong rise in both nominal and real home values currently, over the past 15 years it has been the overall weakest performing capital city housing market.
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ckusher-ujnxiKuFQs

Inflation adjusted home value growth changes the narrative: Cameron Kusher

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Another day, another media article about over-building in Sydney which will apparently lead property prices to come crashing down.
This is something I discussed very <a href="https://petewargent.blogspot.com.au/2015/04/zinged" target="_blank">briefly here previously</a>, in response to an article on ABC which referenced my data. 
The problem in cities such as Sydney, is not an necessarily an undersupply of total dwellings per se.
We'll always manage to shoe-horn in enough new 50 square metre flats, no worries at all.
Rather, the issue is one of a gross <a href="https://petewargent.blogspot.com.au/2015/04/zinged" target="_blank">mismatch of supply</a>, and an <a href="https://petewargent.blogspot.com.au/2015/04/zinged" target="_blank">utterly chronic shortage</a> of land being made for development in relation to the demand for it.
Over the short term, nobody can say with any certainty what will happen to prices - there have certainly been enough dreadful predictions over the past 15 years to prove that to be true.
The longer term problem is that with so little land being made available for development, the replacement cost of housing is set to continue rising faster than household incomes growth. 
Land supply bites down hard in 2014
Indeed, a biting undersupply of land being made available for development is already launching land prices across Australia's capital cities into orbit. 
CoreLogic-RP Data released its excellent property capital cities markets report which you can read <a href="https://corelogic.com.au/resources/pdf/reports/capital-markets-report-march2015-online.pdf" target="_blank">here</a>.
It showed that over 2014 the median land price increased by a ripsnorting 17.4% to $283,000.
<img src="https://2.bp.blogspot.com/-tKOcqSbXJcY/VTh-65dEEHI/AAAAAAAAUw4/aGfTlmGDOoQ/s1600/land%2Bvalues.jpg"> 
Compounding land prices
CoreLogic-RP Data's analysis shows that land prices have continued to rise at a compounding annual rate of 8.2% per annum over the past two decades.
The nature of compounding growth is such that these increases over time can become outlandish, and in fact land prices have increased by 382% over the past 20 years, while median lot sizes are declining. 
This is partly a consequence of Australia's strong population growth, and also of employment growth which is focussed so overwhelmingly upon four capital cities plus regional Queensland.
20 years ago 684 square metres of land for residential development in a capital city would on average have cost you $58,750. 
Today, that same 684 square metre lot would set you back $365,256.
Not typically the dynamic one would associate with a longer term easing of dwelling prices, but you never know.
PETE WARGENT is the co-founder of <a href="https://allenwargent.com/" target="_blank" rel="nofollow">AllenWargent</a> property buyers (London, Sydney) and a best-selling author and <a href="https://petewargent.blogspot.com/" target="_blank" rel="nofollow">blogger</a>.
His book '<a href="https://www.bigskypublishing.com.au/Books/General-Interest/Four-Green-Houses--and-a-Red-Hotel/1015/productview.aspx" target="_blank" rel="nofollow">Four Green Houses and a Red Hotel</a>' is out now.
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