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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The last Census showed that across Australia we have ample bedrooms to cater to our population yet the lack of new housing supply over recent years along with increasing demand for homes has resulted in increases in home values. 
Particularly in Sydney and Melbourne the escalation in home values over recent years has been strong while most other capital cities have largely remained on the sidelines.
The 2011 Census showed that at that time there were 21,507,717 residents of the country. The data also showed that there were 7,760,320 private dwellings which were occupied at the time with a further 10.7% unoccupied. Given this, and if we assume that everyone has a dwelling to live in, each occupied dwellings would have an average of 2.77 residents.
<img class="aligncenter size-full wp-image-4530" src="https://blog.corelogic.com.au/wp-content/uploads/2015/04/Number-of-bedrooms.jpg" alt="Number of bedrooms" width="1349" height="680">
According to the Census data, on average occupied dwellings in Australia have 3.1 bedrooms which is theoretically more than ample bedrooms to house the population. 
The above table which is lifted from the Census shows that there are far more bedrooms than required across the country. In fact, if we exclude those labelled as ‘none’, assume the four bedrooms or more category is just four bedrooms and exclude those where the number of bedrooms aren’t stated there were 22,866,601 bedrooms at the time of the 2011 Census. When you consider that many married couples sleep in the same room there is actually a substantial oversupply of bedrooms nationally.
The problem is we have a housing market and taxation system which largely discourages home owners from moving to more appropriate accommodation as their lifestyle evolves. Furthermore, the high cost of housing makes it difficult for some younger home owners to move into more appropriate accommodation as their family grows.
 First of all, home owners are taxed via stamp duty when they buy a new home, if they also sell they incur agent commissions. Both of these factors act as a disincentive for home owners to move on a more regular basis. 
<img class="aligncenter size-full wp-image-4531" src="https://blog.corelogic.com.au/wp-content/uploads/2015/04/Chart-24.jpg" alt="Chart 2" width="500" height="180">
The disincentive for home owners to move on a more regular basis is highlighted when we look at the turnover of house and unit stock. On a monthly basis, the record-high number of sales occurred in July 2003 when there were 59,414 sales over the month. In comparison over the past 12 months there has been an average of 40,561 dwelling sales a month which is -32% lower than the peak.
While sales volumes peaked in July 2003, the national population was recorded at 19.7 million persons at the end of June 2003. The latest data to September 2014 shows that the national population was 23.6 million persons which is 3.9 million more persons than there were in June 2003. Despite the fact that the population is substantially larger than it was in 2003 there are now fewer homes selling. 
Housing is one of the most heavily taxed asset classes; the most recent data for the Australian Bureau of Statistics (ABS) showed that over the 2012-13 financial year, $35.931 billion in property related taxes were collected by state and local governments. Looking at the breakdown of this data, property related taxes were collected from the following sources: 17% was land taxes, 40% was municipal rates, 36% was stamp duty on conveyances, 3% was government guarantee borrowing levies and 4% was from other sources. 
Stamp duty in particular is the most contentious of these taxes because it is only collected from homes which are transacted rather than being broadly taxed on all homes. Over a typical year only around 5% to 7% of properties nationally are sold, given this more than a third of all property related revenue is collected based on how many homes are sold in a given year. As I have mentioned previously, in my opinion shifting away from a turnover dependent tax such as stamp duty to a more stable and broad tax such as land tax would seemingly make sense as well as potentially improve labour mobility and encourage residents to shift into more appropriate accommodation.
While investment properties incur capital gains tax, the sale of a home that is owner occupied doesn’t incur any capital gains tax. If the owner occupied home is sold, agent commissions are payable and if a new home is purchased stamp duty would be payable. This is probably one of the major reasons for the excess number of bedrooms across the country, after the children move out of home there is simply no real incentive to downsize. Furthermore, many homes have seen significant value appreciation over the past 25 years so there is substantial equity in these homes which can be withdrawn by the owners.
As owners of owner occupied property enter into retirement, their tax-free home is also currently not included in the pension asset test. Essentially this means that if an owner has held their home for say 25 years they have likely seen a significant rise in the home’s value and can then retire and still receive the pension. Again, if they were to sell and re-purchase they would incur stamp duty so there is little incentive to do so. Most people enter retirement with little or no mortgage so excluding the family home from the pension asset test seems counter-intuitive as it creates an additional cost to the government for people who can afford to sell or take out a reverse mortgage in order to fund their own retirement. On the other hand, there is the argument that some pensioners have very little other than their home to fund their retirement so there would likely need to be some balancing with regard to this policy. You also don’t necessarily want to put pensioners in a position where they have to sell their home to fund their retirement and as a result have to move further away from their support network.
Australia needs to investigate ways to encourage greater household mobility along with encouraging people to shift over time into more appropriate housing. The removal of stamp duty would seem like an easy place to start along with including the family home in the pension asset test for retirees. Stamp duty removal would make it easier for home owners to move into more appropriate and suitable accommodation as their family life cycle changes. Including the family home in the pension asset test may act as a disincentive for retirees to stay in their large tax-free homes and would also reduce the impost on the Government to pay a pension to these retirees, many of whom have the equity in their home to fund their own retirement or could release the equity to fund their retirement by moving to a smaller home.
The data clearly shows that there isn’t an undersupply of bedrooms, it is simply that many of these homes are locked away from the market because there is no incentive to move homes. Incentivising home owners to shift to more appropriate accommodation could go a long way to improving supply-side issues in the housing market.
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Australia has a glut of bedrooms but a dearth of policies: Cameron Kusher

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A Melbourne based developer has paid $2.5 million for a prime residential development site at Moonee Ponds in Melbourne’s inner north in a private sale brokered by Savills Australia. 
Located at 21-23 Norwood Crescent, the 841 square metre property is located in a Commercial 1 Zone within the Moonee Ponds Activity Centre, allowing a four level development. 
The property, combining neighbouring residential sites, sold on the very strong rate of $2,973 a square metre for the land through selling agents, Savills’ Julian Heatherich and Jesse Radisich.
Heatherich said the sale was another example of adjoining homeowners successfully combining to create a larger development site and significantly increasing the value of each property.  
"Home owners are increasingly jumping on board this trend towards joining forces to produce fantastic results which individually they would not have been able to achieve,’’ he said.
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jchancellor-FAypfDUnLy

Adjoining home owners secure Moonee Ponds development site sale through Savills

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RBA board members remained alert to the possibility that the low levels of interest rates could foster imbalances in the housing market, the latest minutes showed.
"The most recent data suggested that activity in the housing market had remained strong, but there had been little change to housing market conditions overall or in the growth of housing credit in early 2015," the minutes read.
"Although prices continued to rise rapidly in Sydney and, to a lesser extent, Melbourne, trends elsewhere were more varied. 
"Members noted that the Bank was working with other regulators to assess and contain risks arising from the housing market."
The minutes noted overall members considered that the current setting of monetary policy was accommodative and providing support to the economy. 
They also acknowledged that a lower exchange rate would help achieve more balanced growth in the economy. 
"Further depreciation of the Australian dollar was likely given the recent declines in key commodity prices."
In considering whether or not to reduce the cash rate further at this meeting, members discussed the various channels through which monetary policy was affecting the economy at present, including the asset price and exchange rate channels.
"In assessing the operation of the cash flow channel in particular, they noted that the responsiveness of borrowers and savers to changes in interest rates and asset prices was unusually uncertain in a world of very low interest rates and high household leverage.
"Members also saw advantages in receiving more data, including on inflation, to assess whether or not the economy was on the previously forecast path and allowing more time for the economy to respond to the reduction in the cash rate earlier in the year."
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RBA on watch for housing market imbalances and risks: RBA April meeting minutes

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Myer Centre Adelaide, the largest CBD shopping mall in the city, has been sold for $288 million through JLL.
It comprises a retail centre, three office buildings and four basement levels with 467 carpark lots.
It has a total area of 716,000 square feet in the city’s retail area along Rundle Mall, the city’s only retail pedestrian street which attracts 24 million shoppers annually.
The Singaporean REIT, YTL Starhill Global REIT Management Limited, as manager of Starhill Global Real Estate Investment Trust secured the freehold property located at 14- 38 Rundle Mall.
Its net income sits at $19 million.
Ho Sing, chief executive officer of YTL Starhill Global, said the asset fits its investment strategy of building a quality portfolio of properties in prime locations.
"At the purchase price of A$288.0 million, Myer Centre Adelaide provides an attractive yield of 6.6%, is 2.8% accretive to our DPU and is below the current replacement cost," he said.
It was listed two months ago by Novion Retail Partnership with price expectations for close to $270 million through JLL's Head of Retail Investments for Australia, Simon Rooney. 
 
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At 6.6% yield, Myer Centre Adelaide sells at $288 million to YTL Starhill Global

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Blackwater, Moranbah, Karratha, Emerald, Muswellbrook, Gladstone have been dubbed by the Propell advisory group as the six towns have been most affected by the mining boom and bust.
Gladstone is the largest, with 8,900 houses in the port city for the Bowen Basin, within which are also Emerald, Moranbah and Blackwater.
<img src="/images/2015/04/21/blackwater-april-21-bre.jpg" alt="">
Source: Propell 
 
These towns have been the worst affected.
For these six towns, the number of house sales has dropped by half.
There were almost 3,000 sales in 2011, as optimism about mine expansion and the dredging of the harbour to provide new port facilities reached its height.
Three years later in 2014 saw 1,225 sales, as mine expansion plans were reversed, environmental concerns dogged the harbour dredging, and commodity prices fell.
Moranbah saw 260 house sales in 2011 which dropped to 43 in 2014.
Price increases of 10% per anuum, 20% per anuum or more have been replaced by falls in the past two years of up to 38% per annum.
Blackwater has 181 house sales in 2011 which fell to just 12 last year. There are around 200 for sale, with Propell putting the sale time line for vendors out to 20 months.
Muswellbrook made the list as the most affected in NSW with a fall in volume of 13% in 2014 that Propell noted seems almost modest in comparison.
Karratha, at the hub of WA expansion, and with almost 3,400 houses, has seen turnover fall some 45% with prices down -12% in 2013 followed by -26% in 2014.
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House listing backlog at Blackwater mining town will take 200 months to sell: Propell

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Any vendor on Sydney's lower north shore on the weekend would have been virtually guaranteed of finding a buyer.
50 of the 51 homes in the region sold, which APM's senior economist Dr Andrew Wilson noted amounted to a staggering 98% clearance rate. 
It is the awakening sleeping giant, as it was quite slow in recovering from the global financial crisis slowdown.
The three reported Mosman sale were all small apartments, not the trophy homes that dominate the market. The three apartments sold for between $552,000 and $891,000.
Neutral Bay had a pricier $2.5 million apartment sale within the prestigious Residenza La Mare complex.
<a href="https://www.propertyobserver.com.au/https://www.mcgrath.com.au/buy/apartment-neutral-bay-nsw-2089/255739" target="_blank">The two level sub penthouse </a>with harbour views (pictured above) sold through McGrath agent Adrian Rae. The 253 square metre sold at $2,125,000 in late 2013 and $2,066,000 in 2009 off the plan with two year delayed settlement terms by Luxcon Developments.
The 43 Kurraba Road complex was initially marketed during construction as the Lower North Shore’s newest, most exclusive and privileged new address.
The next best weekend auction region in Sydney after the lower north shore was the regular engine room, the inner west with 92%, from the most sales at 102. 
This was followed by the northern beaches with 91%, the upper north shore with 89%, the city and east with 88%, the south with 87%, the north west with 86%, the west with 85%, Canterbury Bankstown with 83%, the south west with 81% and the Central Coast with 70%. 
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The lower north shore: Sydney's awakening property giant

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Mirvac's 224 apartment Ovo Sales at Green Square Town Centre went on sale on the weekend. They sold 221 of them. 
Pricing on the apartments in the 28-storey tower was equivalent to the last two towers the developer had sold in the same burgeoning new precinct.
Rates on level 12 were around $13,000 per square metre, with lower floors cheaper and higher floors dearer. 
There are three three bedroom apartments remaining for purchase.
Studios were priced from $650,000, with first home buyers paying more than $700,000 for a one bedroom apartment without parking, and two bedroom apartments with one bathroom in the $900,000 range and going up in Ovo, which occupies a prominent gateway location at 956-960 Bourke Street.
Designed by architect Richard Francis-Jones in an elliptical shape, the curving, 28-storey tower will be clad in coloured glass panels in rusty and yellow hues.
It features a larger mix of three-bedroom apartments with layouts designed to appeal to households with children.
Some apartments have a bathroom for every bedroom. 
Its release to the market was fast-tracked due to strong demand for apartments in the two previous 10-level blocks.  
Ovo is the third residential release from UrbanGrowth NSW and Mirvac over the past six months at Green Square and follows the sell-out success of Ebsworth and No. 8 Ebsworth.
“The strong interest in Green Square Town Centre is an endorsement of UrbanGrowth NSW’s commitment, perseverance and vision over many years to create a town centre at Green Square, and our strong partnerships with Mirvac and City of Sydney,” said UrbanGrowth NSW chief David Pitchford.
Mirvac Group's John Carfi said the landmark captured the attention of young professional and families at Green Square Town Centre, one of Australia’s most significant urban transformation projects.
Spanning 287 hectares, the precinct will see over $8 billion worth of investment over the next ten years to deliver a new global village for Sydney, including approximately 2,000 apartments.    
Ovo comprises six open plan one bedroom apartments, 46 one bedroom apartments, 152 two bedroom apartments, and 20 three bedroom apartments located at the northern end of Green Square Town Centre.
Construction of Green Square Town Centre’s first building, Ebsworth, is already underway. Construction at Ovo has an expected completion by early 2018. 
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Mirvac's near weekend sell-out of Ovo, Green Square

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AMP’s chief economist Shane Oliver says “Australian property prices are over-valued” and that “rising house prices” are making Australian households vulnerable. Should we be concerned? Should we be listening at all?
I’d suggest a resounding 'No' is an appropriate response.
Oliver’s analysis is so shallow it borders on embarrassing. It relies in part on a discredited report that no one in real estate takes seriously. But above all else, the man’s track record in reading real estate issues is among the worst in the nation.
In his position with AMP, Oliver has been getting it wrong consistently for the past dozen years.
How about this offering: Australian real estate has a “classic real estate bubble” and first-home buyers are being priced out of the market, notably in Sydney.
When did Oliver say this, predicting a bursting bubble and the disappearance of first-home buyers? It was way back in 2003. Since then, over half a million first home buyers have bought homes in New South Wales, most of them in Sydney. And despite three years of extraordinary growth from 2001 through 2003, there was no collapse in prices when the boom ran out of puff.
How about this one: House prices are at least 25% over-valued and may not start to rise again for another decade. It will take 10 years for rents and wages to catch up with house prices and there will be no rise in the housing market until they do so.
This pronouncement was made in 2005. A decade has passed and in that time capital city house prices have risen in eight out of those 10 years (based on the ABS House Price Indexes).
In fact, in 2006, the year after Oliver predicted prices would not rise for another decade, they rose 8.3% - and then 12.3% the following year. How could someone in such a senior position misunderstand the situation to such a degree?
Then in June 2012 he wrote about Australia’s “chronically weak house prices” and suggested we were facing either a crash or a long-term flat trend, caused by “excessive house prices and the excessive level of household debt”.  He said: “The bad news is Australian housing is still way over-valued”.
So what happened?  The following year, in 2013, capital city house prices rose 9.3% on average and then another 6.8% in 2014 (although most of that growth was generated by Sydney’s solo boom).
How does he keep misreading the real estate market so drastically? And why does media keep publishing his views?
The problem Oliver has, and he shares this problem with most of Australia’s underclass of chattering economists, is that he tries to squeeze real estate into his economic models. It’s an interesting study of someone trying to jam a square peg into a round hole, and if the hole doesn’t fit, there’s something seriously wrong with the peg.
Oliver latest pontification on real estate prices – comparing where they are with where he thinks they should be - is based in part on an alleged median multiple. Median multiples are the kindergarten of property price models.
I say “alleged” median multiple because Oliver has based his assessment on the Demographia report – which is a propaganda piece from a developer lobby group, designed to find that all of Australia is unaffordable because we over-regulate property developers.
His argument is based on the notion that Australia has a problem with rising house prices, when the latest figures depict six of the eight capital cities with prices stagnating or going backwards.
There’s also the contention that we’re all vulnerable because house prices are rising “well above trend”. But take Sydney out of the equation and the scenario looks very different.
We’re entitled to expect better from a national figure who lectures on real estate issues.
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

Why the economists keep misreading the real estate market: Terry Ryder

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Sydney prices – up by a third since 2012 – look rather exuberant, the Reserve Bank of Australia governor Glenn Stevens says.
But he added: "popular commentary is, in my opinion, too focused on Sydney prices and pays too little attention to the more disparate trends among the other 80% of Australia."
He noted the continued role of Australian Prudential Regulation Authority and Australian Securities and Investments Commission on addressing risks in the housing market.
"APRA has announced benchmarks for a few aspects of banks' housing lending standards and both APRA and the Reserve Bank will be monitoring the effects of these measures carefully; at this stage, it is still too early to judge them.
"We can only say that over the past few months, the rate of growth of credit for housing has not picked up further."
He said credit conditions are only one of several factors at work here.
"But credit conditions are very easy.
'So while the conduct of monetary policy can’t allow these financial considerations to dominate the ‘real economy’ ones completely, nor can it simply ignore them.
"A balance has to be found," he said speaking to business executives in New York on Monday, at a luncheon of The American Australian Association hosted by Goldman Sachs.
Stevens laid out why further interest rate cuts were possible, suggesting the economy was too soft to generate significant inflation and that weak employment growth meant there is very little prospect of a wages-driven prices breakout.
<div>
"Interest rates should be quite accommodative and the question of whether they should be reduced further has to be on the table," he said.
However, he indicated the bank's outlook on monetary policy was heavily complicated by the fact household debt is at record levels.
</div>
<div>"The extent to which further increases in leverage should be encouraged is not easily answered, but nor can it be conveniently side-stepped," Stevens said.</div>
<div> </div>
<div>"The Board has, moreover, clearly signalled a willingness to lower it even further, should that be helpful in securing sustainable economic growth."</div>
<div> </div>
<div>"A good deal of the effect of easier monetary policy comes via the housing sector – through higher prices, which increase perceived wealth and encourage higher construction, through higher spending on durables associated with new dwellings, and so on.</div>
<div> </div>
<div>"These are not the only channels but, according to research, together they account for quite a bit of the direct effects of easier monetary policy.</div>
<div> </div>
<div>"And they do appear to be working, thus far.</div>
<div> </div>
<div>"Housing starts will reach high levels this year and wealth effects do appear to be helping consumption, which is rising faster than income.
"But household leverage starts from a high level, having risen a great deal in the 1990s and early 2000s.
"The extent to which further increases in leverage should be encouraged is not easily answered, but nor can it be conveniently side-stepped.
"Even if we chose to ignore it, monetary policy's ability to support demand by inducing households to bring forward spending that would otherwise be done in future might well turn out to be weaker than it used to be.
"For a start, households already did a lot of that in the past and, in any event, future income growth itself looks lower than it did a few years ago."
</div>
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Disparate housing markets, but Sydney prices look rather exuberant: RBA Governor Glenn Stevens

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There were just 13 sales at $500,000 or less at weekend auction - when a record 88% clearance rate was secured.
And within what's commonly ascribed to Sydney, just the seven sales. There were 737 auctions scheduled on the weekend, with the initial results by Australian Property Monitors <a href="/expert-insights/buying/stellar-88-weekend-sydney-auction-success-rate-ensures-sales-from-a-to-z">including 626 results</a> analysed by Property Observer.
The cheapest weekend auction was $220,000 at Katoomba in the Blue Mountains, on Sydney's outskirts. It was a two bedroom unit at 3/67 Lurline Street which sold through McGrath Real Estate. It's last sale price in 2011 was at $220,000 and at $212,000 in 2010. It's most recent asking rent was $280 a week, so reflected a 6.6% rental yield.
The cheapest Sydney house was $380,000 when the three bedroom 42 Eton Road, Cambridge Park (pictured above) was sold by R&amp;W Rooty Hill.
The only other Sydney district house was $480,000 at 81 Warburton Crescent, Werrington County.
A Darlinghurst apartment sold for $390,000. It was a one bedder at 12/6 Farrell Avenue. And at nearby Potts Point a one bedroom unit at 3/114 Victoria Sreet fetched $441,000.
A Kirribilli studio fetched $460,000 at 32/33 Bues Point Road, (below) 22 sqm internal plus 8 sqm balcony. Currently tenanted on an expired lease receiving $395 per week, the furnished apartment was marketed by Perry Calkin at Blues Point Real Estate as having a proven track record of offering good solid returns.
The price guidance was over $400,000. It's $460,000 sale reflected a 4.4% yield, before costs that include $730pq strata, $160pq water rates and $210pq council rates.
A one bedroom Sutherland unit fetched $480,000.
The Central Coast secured four sales under $500,000 including two house sales at Blue Haven sold through R&amp;H Charnhaven  at $342,000 and $386,000, and a villa at Woy Woy that fetched $455,000. There was a $380,000 Point Clare house sale at 19 Wendy Drive.
There was a four bedroom house sale at $367,000 at Blue Bay near The Entrance too.
A two bedroom Bexley unit slipped in at $500,000.
The 11/65 Queen Victoria Street, Bexley flat sold through McGrath St George.
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