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 C.inc hotel group, headed by Christopher Cheung, is close to securing a $27 million sale of the Kings Cross icon, The Bourbon Hotel.
It is being bought by the apartment developer and hotel operator Iris Capital's Sam Arnaout.
The Bourbon was marketed last October with having capacity for around 80 apartments (artist's impression below) with bar facilities at street level.
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<div class="innerCont"><a href="https://www.realcommercial.com.au/photogallery_new.ds;jsessionid=8BACA75B866AB8E413A411C2208B0A10?id=501351075&amp;theme=rca.buy" rel="photos" data-id="501351075"><img src="https://i1.au.reastatic.net/456x342-resize/df6906ae430714632f38eb3b97d89585b7b6116e2eb1c2d174f074ae855b67e8/main.jpg" alt="The Bourbon Hotel and former Sydney Swans Club, 22-28 Darlinghurst Road, Potts Point, NSW 2011" title="The Bourbon Hotel and former Sydney Swans Club, 22-28 Darlinghurst Road, Potts Point, NSW 2011" data-index="0" data-resizable="true"> </a></div>
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The Bourbon and the adjoining former Sydney Swans Club in Kings Cross had been listed after Cheung told the SMH the lockout laws in the inner city had influenced his decision to sell and focus on his other assets, including the Coogee Bay Hotel and Cruise Bar, Circular Quay.
No asking price was disclosed but more than $30 million was initially tipped for the November tender through JLL hotels national director John Musca and James Aroney.
They optimistically suggested the buyer would be "part of the area's Covent Garden/Soho transformation."
Cheung bought the Potts Point properties that sit on 6,300 square metres from the former ING Real Estate Entertainment Fund in 2010, after a hailstorm caused the roof of the Swans club to collapse. 
Cheung spent about $10 million upgrading the landmark Bourbon hotel, which boasts 30 gaming machines and hotel licence with a separate $4 million realisation value.
The site was being marketed as potentially accommodating apartments, with retail and or a wine bar at street level.
The Bourbon arose from the ashes of the famed Bourbon and Beefsteak in The Cross.
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jchancellor-FAypfDUnLy

Kings Cross Bourbon Hotel close to $27 million sale

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<div class="cq-article-content-paras section">
The NSW Land and Environment Court has made a ruling on minimum apartment sizes which developers dread could have implications for project profits.
The decision, Botany City Council v Botany Developments Pty Ltd (No 2), was handed down by Justice Sheehan last week after council was represented by L&amp;E Court veteran Tim Hale SC.
It ruled that the larger sizes set out in State Environmental Planning Policy 65 were the most appropriate for residential flat design for the 72-86 Bay Street project. The property had been bought from UNSW for $7.1 million in 2011.
It shocked the industry as smaller apartment sizes have been typically accepted by the industry and consent authorities.
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<div class="cq-article-content-paras section">
Currently developers operate under the "rule of thumb" that the minimum size for a one-bedroom apartment internal space is 50 square metres.
But the court ruled the minimum was too small.
Bigger apartment rules will affect unit mix and apartment types, project feasibilities, and the general layout and design of apartment projects.
The Botany case was over a proposed development of 158 apartments, where some apartments fell below the official rules by a square metre or two.
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<div class="cq-article-content-paras section">
The proposed apartment sizes, with one-bedroom units at between 50.7 square metres (internal and 8 square metre balcony) and 67.5 square metres plus balcony, did not meet the minimum standards of Botany City's Development Control Plan and Botany City rejected the proposal.
The developer went to the Land and Environment Court and won in January 2014 because the sizes exceeded those set out in the state environmental planning policy's rules of thumb.
But Botany Council then appealed that decision, arguing at the May 2104 hearing that the key metric was the residential flat development code table, not the rules of thumb. 
Their appeal asserted that the Commissioner erred in granting consent for a development in which the unit sizes did not meet the minimums prescribed in The City of Botany Bay Development Control Plan 2013 (“the DCP”) where dwellings within residential flat buildings must be designed to provide the following minimum internal areas:
<ul>
<li>studio: 60m²</li>
<li>1 bedroom: 75m²</li>
<li>2 bedrooms: 100m²</li>
<li>3 bedrooms: 130m²</li>
<li>4 bedrooms: 160m²</li>
</ul>
Dwelling size means the area inside the enclosing walls of a dwelling but excludes wall thickness, vents, ducts, staircases and lift wells.
It was common ground that the apartments do not meet these unit sizes as the development was comprised of 1 bedroom units of areas between 50.7m² and 67.5m², its two bedroom units between 78.1m² and 93.8m², and the bedroom units between 98.1m² to 98.9m².
The so-called rule  of Thumb for Apartment Layout in the [RFD Code] state:
 
<div>
<table border="1"><tbody>
<tr valign="top">
<td valign="middle" width="203">Apartment Type</td>
<td valign="middle" width="127">Area</td>
<td valign="middle" width="103">m²</td>
</tr>
<tr valign="top">
<td valign="middle" width="203">
03.01 Studio</td>
<td valign="middle" width="127">Internal Area</td>
<td valign="middle" width="103">38.5m²</td>
</tr>
<tr valign="top">
<td valign="middle" width="203"> </td>
<td valign="middle" width="127">External Area</td>
<td valign="middle" width="103">6m²</td>
</tr>
<tr valign="top">
<td valign="middle" width="203">
03.02 One bedroom,</td>
<td valign="middle" width="127">Internal Area</td>
<td valign="middle" width="103">50m²</td>
</tr>
<tr valign="top">
<td valign="middle" width="203">cross through</td>
<td valign="middle" width="127">External Area</td>
<td valign="middle" width="103">8m²</td>
</tr>
<tr valign="top">
<td valign="middle" width="203">
03.03 One bedroom</td>
<td valign="middle" width="127">Internal Area</td>
<td valign="middle" width="103">62m²</td>
</tr>
<tr valign="top">
<td valign="middle" width="203">Masionette(sic)/loft</td>
<td valign="middle" width="127">External Area</td>
<td valign="middle" width="103">9.4m²</td>
</tr>
<tr valign="top">
<td valign="middle" width="203">
03.04 One bedroom</td>
<td valign="middle" width="127">Internal Area</td>
<td valign="middle" width="103">63.4m²</td>
</tr>
<tr valign="top">
<td valign="middle" width="203">single aspect</td>
<td valign="middle" width="127">External Area</td>
<td valign="middle" width="103">10m²</td>
</tr>
<tr valign="top">
<td valign="middle" width="203">
03.05 Two bedroom</td>
<td valign="middle" width="127">Internal Area</td>
<td valign="middle" width="103">80m²</td>
</tr>
<tr valign="top">
<td valign="middle" width="203">corner</td>
<td valign="middle" width="127">External Area</td>
<td valign="middle" width="103">11m²</td>
</tr>
<tr valign="top">
<td valign="middle" width="203">
03.06 Two bedroom</td>
<td valign="middle" width="127">Internal Area</td>
<td valign="middle" width="103">89m²</td>
</tr>
<tr valign="top">
<td valign="middle" width="203">cross through</td>
<td valign="middle" width="127">External Area</td>
<td valign="middle" width="103">21m²</td>
</tr>
<tr valign="top">
<td valign="middle" width="203">
03.07 Two bedroom</td>
<td valign="middle" width="127">Internal Area</td>
<td valign="middle" width="103">90m²</td>
</tr>
<tr valign="top">
<td valign="middle" width="203">cross-over</td>
<td valign="middle" width="127">External Area</td>
<td valign="middle" width="103">16m²</td>
</tr>
<tr valign="top">
<td valign="middle" width="203">
03.08 Two bedroom</td>
<td valign="middle" width="127">Internal Area</td>
<td valign="middle" width="103">121m²</td>
</tr>
<tr valign="top">
<td valign="middle" width="203">corner with study</td>
<td valign="middle" width="127">External Area</td>
<td valign="middle" width="103">33m²</td>
</tr>
<tr valign="top">
<td valign="middle" width="203">
03.09 Three bedroom</td>
<td valign="middle" width="127">Internal Area</td>
<td valign="middle" width="103">124m²</td>
</tr>
<tr valign="top">
<td valign="middle" width="203"> </td>
<td valign="middle" width="127">External Area</td>
<td valign="middle" width="103">24m²</td>
</tr>
</tbody></table>
</div>
 
 
</div>
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57 square metre Botany one bedders ruled too small by NSW Land & Environment Court

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The determination by the NSW Land and Environment Court about minimum apartment sizes has created industry confusion, says the Urban Taskforce.
“The Land and Environment court has determined that a table of nine apartment types takes precedence over a ‘rule of thumb’ in the Residential Flat Design Code,” says Urban Taskforce CEO, Chris Johnson.
 “But the NSW Government issued a draft Apartment Design Guide in September 2014 that defined minimum apartment sizes in accordance with the earlier ‘rules of thumb’.”
“While the court may well be deciding on a technical interpretation in the current Residential Flat Design Code it is clear that the Government supports the ‘rule of thumb’ in the proposed replacement document.”
The Taskforce wants the new Minister for Planning, Rob Stokes to clarify the matter saying NSW now has planning legislation being redefined by "court decisions to the detriment of those looking to buy a new dwelling.”
“Some councils have argued for larger apartment sizes than the Government’s minimums and included these in their Development Control Plans. 
"All this does is increase the cost of apartments by up to $200,000 in some areas. 
"Sydney is already one of the most expensive cities in the world for housing and the NSW Government must do all it can to minimise costs. 
"One way to do this is to ensure that all councils conform to the same minimum apartment sizes.”
“The state’s planning system was going to be reformed four years ago but it became too difficult to achieve this."
“The Urban Taskforce believes the new Minister for Planning has an opportunity to begin sorting out the states complex planning system by clarifying the legal interpretation of minimum apartment sizes before Sydney’s 41 separate councils start setting their own standards now that the rules seem to have been changed by the court.”
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Botany apartment size court decision needs ministerial intervention: Urban Taskforce

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The RBA’s February interest rate cut had given the most apparent boost to the Melbourne auction market, according to Westpac senior economist Matthew Hassan.
"Perhaps the most notable development since the start of the year though is the rise in Melbourne clearance rates," he said today.
"These were notably more subdued in 2014, both compared to Sydney and to previous peaks in 2009-10 and 2007. 
"However, they have surged 7-9ppts since Feb to be within striking distance of those previous peaks.
<img src="/images/2015/04/14/westpac-april-14-one.jpg" alt="">
"This suggests the RBA’s Feb rate cut has given a material boost to activity that should be most apparent in the Melbourne market where price growth had been travelling at a more subdued 5% annual pace compared to double digit growth in Sydney."
Matthew Hassan noted his belief that weekly auction market indicators are easily the most timely housing market data available, preceding most other measures by a good four to five weeks.
<img src="/images/2015/04/14/westpac-april-14-two.jpg" alt="">
 
He added caution must be applied in their interpretation especially as coverage issues mean auctions are only valid gauges for the Sydney and Melbourne markets and even then are skewed to particular parts. 
He suggested clearance rates also exhibit clear seasonality that must be adjusted for to provide a cleaner read of conditions.
<img src="/images/2015/04/14/westpac-april-14-three.jpg" alt="">
He highlight whereas seasonality was flattering clearance rates with 1½-3½ppt boosts in Feb and Mar, this effect has dropped back to about ½ppt in April;
"Seasonally adjusted clearance rates are unambiguously strong with April on track for a record high in Sydney."
<img src="/images/2015/04/14/westpac-april-14-four.jpg" alt="">
He added that conditions appear to be weakening more rapidly in markets not well covered by auction statistics.
<img src="/images/2015/04/14/westpac-april-14-five.jpg" alt="">
 
"Annual price growth has stalled flat in Perth and slipped to just 2.5% in Brisbane. 
"Auctions account for less than 3% of transactions in these cities. 
"As such conditions on a national ‘average’ basis have likely improved by much less than the rise in Sydney and Melbourne clearance rates indicates."
<img src="/images/2015/04/14/westpac-april-14-six.jpg" alt="">
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Melbourne auction spike on back of February rate cut: Westpac's Matthew Hassan

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GUEST OBSERVATION
Auction volumes increased this week, albeit from a low base due to the Easter long weekend, with 1,568 auctions scheduled across the combined capital cities this week.
A total of 1,014 results were recorded with the preliminary clearance rate remaining stable at 79.0%, up only slightly from 78.9% last week. At the same time last year, 67.2% of all capital city properties taken to auction recorded a successful sale, while volumes were much higher at 3,534; however volumes were elevated in what was last year’s lead up to the Easter long weekend.
<a href="https://blog.corelogic.com.au/wp-content/uploads/2015/04/20150412-Capital-City.jpg" rel="wp-prettyPhoto[g4501]"><img class="aligncenter size-full wp-image-4507" src="https://blog.corelogic.com.au/wp-content/uploads/2015/04/20150412-Capital-City.jpg" alt="Capital City" width="1140" height="852"></a>
As Australia’s largest auction market, Melbourne’s preliminary auction clearance rate was recorded at 77.7% this week, more than 10% higher than at the same time last year, when over the week the auction clearance rate was recorded at 64.4%.
The number of Melbourne homes taken to auction this week was 674, compared to just 63 last week and 1,530 over the same week in 2014. Across Melbourne’s sub-regions, the strongest performers this week were the Outer East region (91.7%), followed by Melbourne’s Inner East, where the clearance rate was recorded at 84.9%.
<a href="https://blog.corelogic.com.au/wp-content/uploads/2015/04/20150412-Melbourne.jpg" rel="wp-prettyPhoto[g4501]"><img class="aligncenter size-full wp-image-4503" src="https://blog.corelogic.com.au/wp-content/uploads/2015/04/20150412-Melbourne.jpg" alt="Melbourne" width="1145" height="758"></a>
Sydney vendors continued to experience strong conditions across the auction market this week, with the preliminary auction clearance rate recorded at 84.8% with 619 auctions held across the city.
In comparison, over the previous week, 427 Sydney auctions were held with a highly comparable clearance rate of 84.7%, while one year ago, Sydney’s auction clearance rate was recorded at 74.8% across 1,496 auctions.
This is the ninth week in a row where Sydney’s auction clearance rate has been recorded above the 80% mark. An exceptional result was recorded across Sydney’s Eastern Suburbs this week, with 35 auctions reported to CoreLogic RP Data and 34 of these recording a sale.
<a href="https://blog.corelogic.com.au/wp-content/uploads/2015/04/20150412-Sydney.jpg" rel="wp-prettyPhoto[g4501]"><img class="aligncenter size-full wp-image-4504" src="https://blog.corelogic.com.au/wp-content/uploads/2015/04/20150412-Sydney.jpg" alt="Sydney" width="1148" height="770"></a>
Brisbane saw 111 auctions take place this week, with just over half of all results collected recording a sale (50.9%). This week’s preliminary clearance rate is stronger than both last week, when 40.0% of Brisbane auctions sold and at the same time last year, when the final auction clearance rate was recorded at 45.3%. Across the Gold Coast, 57 auctions were held this week, with the preliminary clearance rate recorded at 56.5%.
<a href="https://blog.corelogic.com.au/wp-content/uploads/2015/04/20150412-Brisbane.jpg" rel="wp-prettyPhoto[g4501]"><img class="aligncenter size-full wp-image-4506" src="https://blog.corelogic.com.au/wp-content/uploads/2015/04/20150412-Brisbane.jpg" alt="Brisbane" width="1132" height="750"></a>
A total of 80 Adelaide homes were taken to auction this week, with a strong preliminary clearance rate of 88.5%, up from 69.4% at the same time last year, and higher than the 83.3% recorded last week.
<a href="https://blog.corelogic.com.au/wp-content/uploads/2015/04/20150412-Adelaide.jpg" rel="wp-prettyPhoto[g4501]"><img class="aligncenter size-full wp-image-4505" src="https://blog.corelogic.com.au/wp-content/uploads/2015/04/20150412-Adelaide.jpg" alt="Adelaide" width="1145" height="765"></a>
Perth’s preliminary clearance rate this week was recorded at 77.8%, up from 60.0% the previous week and also higher than the 43.5% recorded at the same time last year.
76.0% of Canberra auctions were successful this week, which leaves the clearance rate relatively stable when compared to last week (71.8%) and much higher than at the same time last year (55.8%).
There were 10 Tasmanian auctions this week. 7 results were reported to CoreLogic RP Data, with four sales recorded.
Shana Miller is a research analyst at <a href="https://www.myrp.com.au/" target="_blank" rel="nofollow">RP Data</a>.
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smiller-vwPjRHTkST

Strong national auction clearance rate maintained: Shana Miller

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GUEST OBSERVATION
With interest rates at or near-record lows and the recent release of the 2015 Australian government Intergenerational Report, people nearing retirement may well be evaluating their retirement investment decisions.
Retirees who invest in increasingly conservative assets, such as reallocating their capital from equities to bonds and/or cash, are under threat. If current low bond yields and cash rates persist, which looks likely, the lifecycle method of investing, with all its benefits, will fall short in meeting retirees’ income needs.
Lifecycle investing is the conventional idea of allocating capital into risky assets (equities) during your working life and then de-risking your super savings into more conservative assets (bonds and/or term deposits) as you approach retirement.
A glidepath is the relationship between a fund’s asset allocation and an individual’s age. While equity investment do not typically fall to zero at retirement for lifecycle strategies, many advisors justify the concept of a declining equity glidepath on the basis that retiree’s horizon decreases with increasing age.
Put simply, the young investor is assumed to be able to accept more risk than the older investor. Hence the young investor should invest a large proportion of their savings in equities at the onset and gradually reduce the allocation to equities over time.
Although recent studies suggest otherwise, financial planners are resolute in reducing their clients’ asset allocation in equities when their clients approach retirement. Why? Because it seems right! Conventional thinking suggests that retirees with a moderate nest egg will look to protect their savings in retirement and deploy their lifetime savings in low risk investments.
A big challenge to the lifecycle strategy in an era of low interest rates is accumulating enough lifetime savings to fund your longevity risk. This is the risk of individuals living for an unusually long time and thereby outliving their retirement incomes.
In Australia, many funds use the Strategic Asset Allocation (SAA) framework as a default investment strategy. This strategy is representative of the optimal combination of different asset classes. These assets are periodically rebalanced to the target allocations as investment returns skew the original asset allocation proportions.
With the masses of Australians paying their Superannuation Guarantee (SG) into their fund’s default strategies, the Australian government introduced a cost-effective product called <a href="https://www.apra.gov.au/Super/Publications/Documents/20141002_MySuper_selected_feature_overview.pdf">MySuper</a>.
There are currently 116 MySuper products, 88 of which have a single investment strategy with the remaining having a lifecycle investment strategy. The static strategy has up to 49% of assets invested in equities while the lifecycle strategy holds approximately 31% of wealth in growth assets (equities) at retirement age 65 and the remainder in conservative assets.
<a href="https://aatheory.blogspot.com.au/2007/12/dynamic-allocation-strategies-for">Research</a> has shown that the SAA outperforms portfolios with decreasing asset allocations in equities. More importantly, <a href="https://papers.ssrn.com/sol3/papers.cfm?abstract_id=2324930">recent studies</a> find evidence to support an increasing (that’s correct, increasing) asset allocation to equity investments in retirement which challenges the conventional thinking in the financial planning profession.
The increasing equity glidepath has the potential to reduce both the probability of failure and the magnitude of failure for investment portfolios. The idea of an increasing equity glidepath in retirement may present some concerns for retirees from a risk tolerance perspective, and therefore require a very meticulous approach.
<a href="https://www.mercer.com.au/content/mercer/asia-pacific/au/en/newsroom/white-collar-workers-killing-average-life-expectancies">Life expectancy</a> among Australians is among the highest in the world today. Retirees have elongated life expectancies of up to 86 and 90 for males and females, respectively. There is a 15% chance that one person of a retired couple will live past the age of 95.
Some 20% of white collar male and females are now expected to live to age 94 and 96, respectively. And 5% of the male white collar cohort will live to age 99, with the females living beyond 100. These statistics suggest that if you’re planning to retire at 65, you potentially face a very long retirement period which you will need to fund. The current world of low interest rates means retirees investing in safe assets risk facing financial ruin over long retirement horizons.
These low interest rates in today’s financial markets may be the “nudge” financial advisors need to address the issues of longevity risk. One proven method is to consider these new equity-focused investment strategies that exhibit a higher probability of investment success. Although the past is not necessarily indicative of the future, it is illustrative for risk purposes.
Strategies that follow the concept of de-risking with increasing age under-performs <a href="https://www.researchaffiliates.com/Our%20Ideas/Insights/Fundamentals/Pages/F_2012_Sep_The_Glidepath_Illusion.aspx">contrarian strategies given 141 years of historical data</a>. When we lower our expectations and live in the present, with low yields and market uncertainties, the outcomes do not change. Equity-centric strategies perceived to be riskier provides more certainty with retirement outcomes.
The eminent economist John Maynard Keynes famously said, “When the facts change, I change my mind. What do you do, sir?” From a retiree perspective, when bond/cash yields change, let our investment and retirement advice change along with it.
Osei K. Wiafe is research fellow, Griffith Centre for Personal Finance and Superannuation (GCPFS) at Griffith University.
This article was originally published on <a href="https://theconversation.com">The Conversation</a>.
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Low interest rates set to stay, so what’s the best investment course for retirees? Osei K. Wiafe

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GUEST OBSERVATION
My most read and commented on blog was <a href="/news/i-d-rather-stick-a-fork-in-my-eye-than-buy-nras-todd-hunter">my thoughts on the NRAS “scheme</a>”.
Well, I can say I was right and the story of this “scheme” only gets worse I’m afraid.
Earlier this year I had a client call me and let me know her NRAS property in Sydney that she purchased through another property company had been trashed. She only found this out after not receiving rent for two months. This sparked her to inspect the house to find they had fled the house and left it damaged along with rubbish everywhere.
When she investigated it further, she found that four bedroom house had eight people living in the house. The lease agreement was only approved as having four people living there. The consortium managing the property had not done any of the required property inspections, like they had said they would do.
And funny enough, they now don’t return her phone calls.
So after spending several thousands of dollars in repairing and cleaning the house, they thought they may want to sell it. The bad experience had put a foul taste in their mouth. I offered to refer her to a friend who is an agent, who works in the area and they have done an inspection. Now the fun begins…
The agent gave them what they believed to be fair market value price in a strong Sydney market and this dollar figure was still $80,000 less than what they paid for the house.
So, now they have a house that has been trashed, now vacant and worth far less than what they paid for it.
Could it get any worse?
Yes it can.
Now I don’t know the reasons why, but it would appear that the government department responsible for NRAS has amalgamated with another government department and as a consequence many (and quite probably all) of the tax refunds for NRAS were not paid for the last financial year, due to a software glitch that they couldn’t repair.
These payments amount to close to $10,000 per annum that the investor is supposed to receive back in compensation for letting out their property 20% below market value.
To make it even better, they have no ETA on when the problem will be fixed, if at all.
This was money these investors could have really done with to help pay for the trashed and damaged property they have been left with.
So I am sorry, but have I missed the positives of NRAS?
TODD HUNTER is a buyer’s agent, director and location researcher for Sydney-based <a href="https://www.wheregroup.com.au/" target="_blank">wHeregroup</a>.
He reached a personal investment portfolio of 50 properties in 2006 and has also started building an SMSF portfolio.
This article was originally posted on <a href="https://www.wheregroup.com.au/blog/todd-hunter/" target="_blank">Todd's blog</a>.
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NRAS – you've got to be kidding me: Todd Hunter

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The low official cash rate and an increasingly competitive home loan market has prompted ME Bank to cut its three year fixed rate product by 29 basis points.
Its three year standard home loan is now offered with a 3.99% per annum interest rate. Its one year fixed loan rate was cut by 40 basis points to 4.29%, and its five year loan is now down 20 basis points to 4.39% per annum.
Although the Reserve Bank did not cut the official cash rate in April, ME Bank head of home loans Patrick Nolan says money markets have begun pricing in two more rate cuts.
He also attributes the bank's rate cut to increased competition in the market.
"With competition hotting up, many Banks will pass these fixed rate savings directly on to customers," says Nolan.
"Banks are fighting over a smaller slice of the lending pie which is helping to push fixed rates to never before seen lows."
The bank also now allows new borrowers to pay an extra $30,000 over the fixed term of their loan.
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ME Bank drops three year fixed rate below 4%

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First home buyers are increasingly turning to their families for financial help, National Australia Bank analysis shows.
It found that 6.7% of its first home buyers are now using the NAB Family Guarantee product to get on the property market ladder – up from 4.8% in 2010.
Customers in the Northern Territory and Tasmania accessed the NAB Family Guarantee the most, with 14.3% and 12.1% respectively of first home buyers taking up the offer in 2015.
The NAB Family Guarantee allows customers to use money, placed in a term deposit account, to support a fellow family member to buy, while allowing their family members to earn interest in a term deposit on the money they provided as security. NAB informs customers about the risks associated with acting as a guarantor.
NAB's family guarantee product allows family member to limit their exposure to a proportion of the loan, rather than the whole loan.
Family members' exposure was often around 20% of the loan, the point at which banks no longer require mortgage insurance.
“Our figures show this product is increasing in popularity because it allows parents to gain from their support for their child’s home loan,” NAB executive general manager consumer lending, Angus Gilfillan said.
The bulk of customers using the NAB Family Guarantee so far in the 2015 financial year were aged 20-29 (73%), but there was also a large portion were aged 30-39 (21%).
“Our data shows some customers are in their 30s or 40s when they buy their first home, while at the other end of the spectrum we have also seen 3% of first home buyers using the NAB Family Guarantee this year in their teens,” he said.
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First home buyers in their 30s still need parents help: NAB

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The No Land Tax Party candidate Peter Jones is ahead of the Liberal Party in the race for the final of 21 seats up for grabs in the NSW Legislative Council.
The Daily Telegraph report the Coalition on track to win nine, Labor seven, the Greens two and the Shooters and Fishers and Christian Democrats one each.
The final results should be declared on Friday with the veteran ABC election analyst Antony Green saying he was “confident” No Land Tax will take the 21st seat.
If No Land Tax does win a seat for the next eight years, it would leave the ­Coalition with 20 of 42 upper house seats. 
The party secured the prime Group A spot on the long Legislative Council ballot.
It secured about 80,000 upper house votes with 70% of the vote counted, representing about 2% of the overall vote. 
The party, which went close to imploding in the days before the 28 March election, owes money to a large number of the 3,600 people who worked by handing out how to vote cards on election day. 
The promised wage delivery had been revised, yet again, to be undertake this week.
"I profoundly apologise," party candidate Peter Jones told 2GB's Ben Fordham.
The No Land Tax Party was initially throught to be in battle with the Animal Justice Party for the 21st spot, with the election result feared set to be challenged.
Due to human error, the Animal Justice Party was left off about 19,000 iVote ballots in the early pre-poll voting.
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