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 Urban Development Institute of Australia has called on government to remove stamp duty on property and support foreign investment into residential real estate, which it says will help boost the supply of land for development and improve housing affordability.
The calls follow the release of the UDIA’s latest State of the Land Report which showed the supply of new development land jumped by 30.8% in 2014 to 50,150 new lots, up from 38,350 lots released in 2013.
UDIA National President Cameron Shephard welcomed the increase but warned governments against complacency on land supply.
“Nationally, Australia still suffers from a marked undersupply of new housing stock, caused by inadequate investment in urban infrastructure, slow planning and approvals systems, and high taxes and charges on new housing supply,” Shephard said.
“Even now, we’re still not building enough new homes to meet underlying demand.”
The UDIA has urged the federal government to:
<ul>
<li>Assist state governments with replacing stamp duty on property with other forms of taxation.</li>
<li>Provide additional funding for investment in new urban infrastructure.  </li>
<li>Link funding for state governments to their performance on key land supply measures. </li>
<li>Cease plans to shift the cost of providing the National Broadband Network to new home buyers through up front connection, network and backhaul charges.  </li>
<li>Continue to encourage foreign investment into residential real estate, by supporting Australia’s existing foreign investment policy framework.</li>
</ul>
It has also called for state and local governments to:
<ul>
<li>Reform their planning systems to increase the supply of urban land and reduce delays and uncertainty associated with zoning, planning and approvals processes.  </li>
<li>Reduce upfront charges and levies on new housing and to instead recover costs over long time frames.</li>
</ul>
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zfielding-GvX3Uq9KTa

Removing stamp duty, supporting foreign investment will boost affordability: UDIA

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A family from Shanghai has paid the lucky sum of $8,888,888 for the Melbourne CBD freehold at 415 Collins Street.
The four level freestanding office and retail building is located near the corner of Collins Street and Market Street.
<a href="https://www.smh.com.au/business/property/collins-street-building-sells-for-the-right-number-20150326-1m8cb0" target="_blank">Fairfax reports</a> that more than 200 people attended the auction at the foot of the heritage listed building, but the bidding came down to two buyers of Chinese origin.
Bidding began at $5 million for the property, which had a sub $10 million price guide and a reserve of $6.3 million.
In total, 12 buyers reportedly made 51 bids. The locally based bidders, who eventually lost out on the property, made a $8,884,000 bid, but auctioneer Philip Kingston urged the bidders to reach $8,888,888 – eight is a traditionally lucky number for some Chinese people.
The winning $8,888,888 bid was made by the Shanghai-based Ry family.
The sale was marketed by CBRE agents Josh Rutman, Mark Wizel and Lewis Tong. Three investors, Phil Mehrtens, Ted Yencken and Wayne Judson, paid $2.28 million for the 750 square metre property in 1999. The three investors are all associated with construction firm Probuild. Mehrtens is the founder, Judson is a former Probuild business partner and Yencken is a director. Previously, the building had sold for $6.2 million 1990.
The partially vacant property sold yesterday at 2.2% yield. The Reserve Bank recently <a href="/expert-insights/investing/watch-your-yields-rba-warns-as-commercial-property-risks-rise">sounded a warning on commercial property investment</a>, saying: "Although the Australian banking system's exposure to the commercial property sector declined following the global financial crisis, and the recent lending has not increased its share of banks' domestic assets, risks in this area appear to be building."
The Sherlock Holmes Inn is currently located in the basement of 415 Collins Street. The heritage listed building, known as as both Rochelle House and Evans house, was constructed in 1929 as a mixed use building for Thomas Evans, a canvas goods retailer. Designed by Hare Alder Peck &amp; Lacey, the building has a distinctive terracotta detailing in the Moderne style.
An office on the building's first level is currently available to lease, at <a href="https://www.realcommercial.com.au/property-offices-vic-melbourne-501489035" target="_blank">$291 per square metre</a> including all outgoings.
 
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jrichardson-uRX5hFdKfN

Chinese buyer snaps up 415 Collins Street for lucky $8,888,888

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A Cherrybrook six-bedroom home with a tennis court has sold for a reported $1.72 million record.
The cul de sac 1990s property at 20 Rossian Place was inspected by 65 groups with 13 contracts issued through David Choy from McGrath Estate Agents.
It last sold at $990,000 in 2004, having failed to sell when listed for 20 December auction late last year. It sits on a 1,227 square metre holding.
The previous record was $1.68 million for 8 Norwich Place in October 2014. It was a 1995 built five bedroom house on 1,000 square metres that previously sold in 2005 at $945,000.
Set within the Cherrybrook Technology High zone, it was bought by a family seeking the school.
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jchancellor-FAypfDUnLy

Cherrybrook record as school zoning underpins price growth

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SQM Research's top 10 most discounted properties list shows the homes around the country that have been untouched by any recent growth in our property markets.
The 10 homes just can't seem to budge, despite price cuts and months – sometimes years, on the market.
One property that can't seem to secure a buyer is <a href="https://www.realestate.com.au/property-house-nsw-oberon-112406507" target="_blank">118 Queen Street in Oberon</a>, New South Wales.
The modest one bedroom house on a 585 square metre plot is now priced at $149,000, after a 50% price cut. The Blue Mountains house has been on the market for 800 days, according to SQM Research, although CoreLogic RP Data places the home's current campaign at 1011 days long.
<a href="https://www.sqmresearch.com.au/" target="_blank">SQM Research</a>'s top 10 most discounted properties:
<ol>
<li>1/35 Empire Drive, Kincumber, NSW Initial listing price: $889,000 Now asking: $400,000 Reduction: 55% Days on market: 366 
</li>
<li>2 Louisa Street, Ranelagh, Tas Initial listing price: $2 million Now asking: $995,000 Reduction: 50% Days on market: 730 
</li>
<li>118 Queen Street, Oberon, NSW Initial listing price: $299,000 Now asking: $149,000 Reduction: 50% Days on market: 800 
</li>
<li>202-204 Gymea Bay Road, Gymea Bay, NSW Initial listing price: $1.8 million Now asking: $900,000 Reduction: 50% Days on market: 100 
</li>
<li>6 Gatumba Street, Myora, Dunwich, QLD Initial listing price: $1.5 million Now asking: $825,000 Reduction: 45% Days on market: 247 
</li>
<li>8/109 Mitchell Street, Brunswick, Vic Initial listing price: $670,000 Now asking: $390,000 Reduction: 42% Days on market: 156 
</li>
<li>114 Attfield Street, Maddington, WA Initial listing price: $629,950 Now asking: $385,000 Reduction: 39% Days on market: 499 
</li>
<li>292 Carabooda Road, Carabooda, WA Initial listing price: $1.65 million Now asking: $1,032,000 Reduction: 37% Days on market: 581 
</li>
<li>1 Dunraven Court, Sydenham, Vic Initial listing price: $780,000 Now asking: $490,000 Reduction: 37% Days on market: 317 
</li>
<li>219 Bernard Road North, Carabooda, WA Initial listing price: $3.5 million Now asking: $2,272,000 Reduction: 35% Days on market: 581</li>
</ol>
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Oberon, NSW home on the market for over two years: SQM Research's top 10 most discounted list

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Thornbury tied Reservoir as the busiest Melbourne suburb for auctions last weekend, according to CoreLogic RP Data.
Both northern suburbs had 21 auctions scheduled on the weekend of 21 March.
<a href="https://www.realestate.com.au/property-house-vic-thornbury-119173103" target="_blank">99 Hutton Street</a> (pictured above) was one of the homes auctioned in Thornbury last weekend. The Californian style period house sold for $1.15 million through Nelson Alexander's Grant Leonard and Peter Egan.
The three bedroom, one bathroom house has timber flooring throughout and is set on a deep plot, with a garage, shed and cubby house at the back of the property. At $1.15 milion, the home is valued above the suburb's median price of $827,500 (as of February, according to CoreLogic RP Data).
<a href="/news">Thornbury's median price </a>has been gradually increasing since 2011 as the suburb gentrifies. CoreLogic RP Data recorded a 15% growth in Thornbury's median house price over 2014, after 5% growth the year prior.
While Thornbury is largely associated with period cottages, the suburb is increasingly offering renovated or new contemporary homes. <a href="https://www.realestate.com.au/property-house-vic-thornbury-119179815" target="_blank">195 Gooch Street</a> (pictured below) also sold at auction this weekend, for $820,000.
<img src="/images/2015/03/27/thornbury%20mar%2027%20two.jpg" alt="">
The three bedroom, two bathroom contemporary home is brand new, and has open plan living areas with glass doors opening onto a north facing courtyard. Each of the bedrooms has built in robes, and one includes city views. The house sold through Michael Divito and Gino De Iesi of Barry Plant Northcote.
The two bedroom townhouse at <a href="https://www.domain.com.au/property/sold/house/vic/thornbury/?adid=2011800315" target="_blank">6/42 Swift Street in Thornbury</a> (pictured below) sold on Saturday 21 March through Gino De Iesi and Luke Brizzi of Barry Plant Northcote for $567,500.
<img src="/images/2015/03/27/thornbury%20mar%2027%20three.jpg" alt="">
The new residence, one in a block of six, was designed by Cornetta Partners Architects. Another in the block, <a href="https://www.barryplant.com.au/property/208341/1-42-swift-street-thornbury/" target="_blank">1/42 Swift Street</a> (pictured below), is currently listed for sale.
<img src="/images/2015/03/27/thornbury%20mar%2027%20four.jpg" alt="">
CoreLogic RP Data recorded Thornbury's median unit price as $285,000 for February 2015, but the previous month it was at $460,00. The suburb's unit prices were up 3.9% over 2014, after 13.9% growth in 2013.
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Thornbury's busy auction weekend

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This week we did a little back flip on a development project and I thought I'd talk about what to do when things don't necessarily go your way.
We found a wonderful property for our clients well located right in the CBD of a town.  The project would eventually end up as a three unit development which would include the existing house. Our plans are to renovate the house (which we have now completed) and build a duplex (two attached dwellings) behind the house. It's termed 'three unit' by council as when you lodge your development application (DA) they assess the house as one of the units.
We had a few options to explore on this before we lodged our DA. The property backed onto a laneway which for all purposes is used as a road. It's bitumen sealed with kerbing and used mainly by retailers for deliveries and to access the shopping centre nearby.
We met with council with the proposal to face the duplex to the laneway and have direct vehicle access onto the laneway considering it's condition. Mostly laneways in this suburb are gravel tracks unsealed with no kerbing or drainage.
A few weeks after an over the counter meeting at council, we finally received feedback from the town planner we'd met with. She explained that council probably would not support vehicle access to the laneway as they didn't want to set a precedent. Whilst disappointing, we switched to our back- up plan of a 'battleaxe' style development with vehicle access from the road. This is more costly due to the long driveway. There were also added  costs to fill and retain the rear of the site to get the right fall for the stormwater to drain to the street.
We lodged the DA and received a letter from the planner requesting some ridiculous changes around our stormwater drainage. Without going into all the detail, it would have a big impact on costs.
I pondered over this for a few days, we can argue and fight but thinking about this particular site and its location and my client's goals which are to build their investment portfolio and create as much equity as possible in the process.
I set up a meeting with our clients to present an idea I had. Our DA is still in council, but I wanted to present another development strategy to them. The strategy included withdrawing the DA and building a granny flat on their property. The granny flat tenants are allowed to use the laneway for access and so we could have it completed quickly - within three months - and their yield would be increased. Then, to replace the equity creation that the three unit project was to deliver, I presented a dual occupancy project to them on land we'd just located. This project would actually create more equity than we estimated the three unit project would for them.
They were happy to change tact. But we are still investigating whether we complete the DA and then they sell the property in a few years time with a DA approval in place or whether they proceed with the granny flat construction. Either may have good outcomes for them.
So when an unexpected hurdle pops up, it's important to investigate other options and not just stay with the original plan for the sake of it. By looking at a different project to deliver one of their goals we are still fulfilling the goal of building a portfolio. There can be many hurdles to jump as property developers but sometimes investigating a different path is better than trying to jump a hurdle that keeps moving.
<a href="https://www.propertybloom.com.au" target="_blank">www.propertybloom.com.au</a>
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jochivers-wq5Bp59R5a

What to do when a development doesn't go to plan: Jo Chivers

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If you look back at the history of Richmond Station's proposed redevelopment, it begins to sound altogether very familiar - much like the proposed deck over the Jolimont Railyards which it abuts - and altogether very average. The sustained inability of successive governments to achieve anything more than chatter about the project is a poor reflection on the State's inability to deliver on this particular project.

Talk of the redevelopment has intermittently surfaced over the last decade, with seemingly no concrete process in place to advance the cause. Multi-disciplinary firm GHD produced the ZERO concept (seen below) for the site during 2007/2008, it was placed <a href="http://www.heraldsun.com.au/news/victoria/all-change-at-richmond-station/story-e6frf7kx-1226007837931">on the agenda</a> by then minister Matthew Guy during 2011, and <a href="http://www.theage.com.au/victoria/richmond-station-lined-up-for-major-revamp-20140526-38zdb">once again</a> during 2014.

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/855253-richmond-station-revamp_0.jpg" rel="gallery-all" title="Zero by GHD"><img alt="" class="image-article-full-width-580px" height="387" src="/sites/urban.melbourne/files/styles/article_full_width_580px/public/pictures/article-images/855253-richmond-station-revamp_0.jpg?itok=ok41psUP" title="Zero by GHD" width="580"></a>

<figcaption>Zero by GHD</figcaption></figure>The Property Council of Australia consider it as one of their 20 best and most crucial development sites in Victoria, yet a sweep of the Major Projects Victoria, VicTrack or Places Victoria websites has it absent from all three. Granted the project is not the highest priority on the State to-do list, but nor is it a project worth disregarding by Spring Street; at least that's the impression garnered from the distinct lack of public activity surrounding the project.

<h2>Enter another concept</h2>

In what seems to be a creative exercise Fraser Paxton Architects have recently added a design for a renewed Richmond Station to their website. While nothing more than a concept, the design does explore the possibilities of adding any potential development bulk west of the station in what would be the likely positioning of any high-rise towers, should any development occur down the track… so to speak.

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/image1fpx.jpg" rel="gallery-all" title="Richmond Station redevelopment concept. Image courtesy Fraser Paxton"><img alt="" class="image-article-full-width-580px" height="170" src="/sites/urban.melbourne/files/styles/article_full_width_580px/public/pictures/article-images/image1fpx.jpg?itok=oScCHLi8" title="Richmond Station redevelopment concept. Image courtesy Fraser Paxton" width="580"></a>

<figcaption>Richmond Station redevelopment concept. Image courtesy Fraser Paxton</figcaption></figure><blockquote>
Long will this site be argued about by the bureaucrats. One of the most underused and under developed sites in Melbourne, we thought it would be a good idea to give it a kick start and have a crack at designing what it needs.

450 residential units soar toward the city in a horizontal skyscraper filled wih amenity and retail through it's belly that scrapes the rail below.

Homage to the MCG by not blocking any view to it, this building would be magnificent, stretching, trying to reach the city and in it's finest moment, accessing 12 train lines to different part of metropolitan Melbourne right at it's door step.
<cite>Fraser Paxton Architects</cite>
</blockquote>

As is the case with the many times spoken of deck and civic space over the Jolimont Railyards, any revamp of Richmond Station looks like little more than a pipe dream at this stage. Maybe it's time Major Projects Victoria look a leaf out of the <a href="/news/jewell-stations-redevelopment-a-step-closer">Jewell Station redevelopment</a> book which sees a State-owned enterprise partner with a private developer to create a viable redevelopment plan for a key infrastructure asset; after all managing complex public private partnership construction projects under the Partnerships Victoria framework is part of Major Projects Victoria's charter.

Under a public private partnership Richmond Station's proposed redevelopment could be pushed through at a much quicker pace whilst in theory still maintaining key public design features such as amenity and public permeability etc. that are often neglected by purely private developments.
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silvermb

Has Richmond Station's revamp disappeared into the ether?

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GUEST OBSERVATION
The old adage is that it is time in the market, not market timing. And that adage certainly applies to the wealth of Australians. Not only has household wealth levels lifted to fresh record highs but generational-low interest rates are also reducing borrowing costs across an array of sectors.
The global financial crisis caused the biggest ever drop in wealth for Australian households, however wealth levels have been repaired over the past couple of years and have hit new highs. In short, we aren’t as badly off as it may seem. Average financial wealth per person stands at just over $333,000.
Australia’s financial wealth lifted by almost $190 billion in the December quarter. Interestingly the improvement in wealth levels and low interest rate environment over the past year has supported a lift in consumer activity. Interestingly almost 23% of total household assets are being held in cash and deposits - well above the decade average of 20%.
As the Reserve Bank has highlighted on many an occasion, the improvement in household balance sheets certainly bodes well for future spending. And given that a low interest rate environment is likely to be part of the economic landscape over the coming year, it is likely to see households continue to invest in other asset classes and spend a little bit more freely.
The strength in share markets has certainly been the key driver of the turnaround in wealth and more importantly the pickup in wealth is expected to continue. We expect an ongoing improvement in wealth over coming quarters. The cheap cost of debt will support corporate Australia and over the coming year as the economy lifts, we expect Aussie businesses (outside of mining) to feel more confident to kick-start investment plans.
Australian superannuation funds are holding well over one and a half times the ‘normal’ proportion of money in defensive assets like cash and bank deposits. That is not to say that super funds have not been investing in equity markets, rather that equity investments have been less than the cash inflows recorded by fund managers. The risk for fund managers is being caught with too much money on the sidelines while equity markets track higher. With term deposit rates offering lower returns than growth assets, it is likely pension funds will allocate a larger proportion of inflows to listed property funds and equity markets
Population growth is healthy although in recent quarter it has eased – largely due to a slowdown in migration. Importantly population growth is still amongst the fastest across the OECD nations and as such more people coming to Australia means greater demand for houses, cars and retail items. Clearly faster population growth is good news for builders and retailers.
Some people aren’t convinced that faster population growth is a good thing. It is all about striking the right balance. If we need more workers and we can’t get them locally, it makes sense that we bring them in from abroad. It is vital that supply and demand for workers is brought into balance.
An ongoing lift in migration is also positive from a longer-run point of view in that it flattens out the ageing profile. We will need more in the way of younger people over time to support the growing ranks of pensioners.
What do the figures show?
Total household wealth (net worth) stood at a record $7,884 billion at the end of December 2014, up $189.7 billion or 2.5% over the quarter. In per capita terms, wealth rose to a record $333,061 in the December quarter, up $6,769 over the quarter. In real terms, the value of land and dwellings rose by $85.6 billion in the December quarter while financial assets rose by $41.8 billion. Net saving plus real wealth rose by $160.5 billion in the quarter. Households held a record $903.1 billion in cash and deposits at the end of December. Cash and deposit holdings represented 22.8% of financial assets, above the decade average of 20%. Pension fund (superannuation fund) assets rose by $52.7 billion to $1,721.3 billion in the December quarter. Cash and deposits stood at 15.0% of financial assets, still well above the long-term average of 9.3%.
Foreign holdings of Australian sharesrose by $10 billion in the December quarter to a record $731.6 billion. Foreigners held 46.3% of Australian listed shares at the end of December, down from 47.0% in the September quarter although above the long-term average of 42.7%.
Australian non-financial private companies held $431.7 billion in cash and deposits at the end of December. Cash and deposits were 40.5% of all financial assets in the quarter, down from 41.1% of financial assets in the September quarter and below the 14-year high of 42.5% recorded in the September quarter 2013. The long-term average is 37.4%.
Population Statistics:
Australia’s population expanded by 354,600 people over the year to September 2014 to 23,581,000 people. Overall, Australia’s population growth rate eased from 1.58% to 1.53% – a three year low.
Australia’s population grew by 90,300 people over the September quarter. Population growth hit a 5-year low of 1.39% in the year to March 2011 before lifting to 1.78% in December 2012 and has since eased to now hold at a three year low.
A total of 203,900 people migrated to Australia over year to September, well off the low of a gain of 172,100 in the year to December 2010. The record high was 315,700 in-bound migrants over the year to December 2008.
There were 303,100 babies born in the past year, just shy of the record 312,200 births in the year to September 2013. And deaths (152,200) were at a record high.
Over the past year population growth was the strongest in Western Australia (2.12%) followed by Victoria (1.77%), Queensland (1.49%), NSW (1.43%), the ACT (1.15%), Northern Territory (1.14%), South Australia (0.85%), and Tasmania (0.31%).
Population growth is above decade averages in just NSW (17% above decade averages) and Victoria (4% above decade averages). Population growth eased in the Tasmania over the September quarter, but growth had lifted for the prior eight straight quarters after hitting 12 year lows in September 2012. Population growth in Queensland was at a 15-year low and in the ACT was at an eight-year low.
What is the importance of the economic data?
The Australian Bureau of Statistics releases the Financial Accounts publication each quarter. The data covers assets, liabilities and financial flows for the key sectors of the economy. Figures on financial wealth help reveal the true state of household finances.
Demographic Statisticsare issued by the Bureau of Statistics each quarter. The figures include estimates of births, deaths, in-bound and out-bound migration movements and estimates of population change by State.
The Australian Bureau of Statistics (ABS) and Federal Treasury release the Modellers’ Database each quarter. The ABS notes: “the Modellers' Database consists of over 500 quarterly times series constructed from the NIF and TRYM econometric models. They are useful to economists, econometricians, financial analysts and students.
What are the implications for interest rates and investors?
Household and company balance sheets remain strong, and it is likely that more money will be put to work in the low interest rate environment over the coming year.
The Reserve Bank would be hoping that the lift in wealth levels continue to entice consumers and businesses to spend a little bit more freely – driving activity and helping to absorb the weakness in mining investment. Interest rates are still likely to fall over the next couple of months. We expect the Reserve Bank to cut interest rates in May.
The slowdown in population growth is having a detrimental effect on some states. Queensland and the ACT are amongst the weaker states when it comes to activity and growth levels and the result also shows up in the latest population statistics. Population growth in Queensland is holding at a 15-year low, and partly explains the contraction in economic growth over the past two quarters.
Craig James is the chief economist at <a href="https://www.comsec.com.au/default.aspx" target="_blank">CommSec</a>.
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cjames-5S2v74qSNK

Population growth is all about striking the right balance: Craig James

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GUEST OBSERVATION
The NSW Baird Government’s recent ‘blitz’ on real estate agents , and specifically underquoting, is political grandstanding of the highest order.
By their own admission there were only 82 complaints to NSW Fair trading last year on under quoting – coming from over 200,000 property transactions.
All this in a rising market where it is extremely difficult to very accurately price property based on historical comparable sales.
The current Fair Trading Minister and Premier Baird should be consulting with the industry to arrive at the best long term solutions rather than their current actions obviously designed to win a few more votes. If they are serious about taking appropriate action to avoid any possibility of underquoting there are three steps they should take;
<ul>
<li>Eliminate the growing trend of ‘offers from’. This does no favours for the real estate industry, frustrates consumers and gives the impression the agent hasn’t a clue on assessing the value of a property. Traditionally, there are three main methods of sale – private treaty with a firm asking price; public auction and tender or expressions of interest , both methods, with a firm deadline and a concealed price. The government should insist on one of these 3 methods being employed by agents with no mention of price in an auction or tender process. 
</li>
<li>The NSW government and the Real Estate Institute should be heavily promoting buyers agents in every transaction. This would mean all purchasers had professional representation in the transaction thereby eliminating disputes surrounding price levels, gazumping and the general belief that ,an agent being paid by the vendor, is also acting for the purchaser. This initiative would almost entirely eliminate disputes and ensure a purchaser had advice on market research, price levels, buying strategies and professional negotiating. 
</li>
<li>Increase the education requirements for agent licensing. It is now well documented that the current education requirements are at their lowest levels in NSW history . The entry requirements must be increased and preferably aligned to the best education levels of other States. In addition, the Continuing Professional Development rules should be modified to being less prescriptive and broaden the annual learning requirements.</li>
</ul>
The government’s current actions where they recently ‘raided’ numerous agents in the Sutherland Shire and announced a blitz on under quoting has to be seen very cynically so close to an election. It is akin to taking a chainsaw to a small bonsai plant.
Tony Brasier is managing director of <a href="https://www.prdnationwide.com.au/" target="_blank">PRDnationwide</a>.
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po-LsXgBTHBmX

Baird's underquoting blitz just political grandstanding: Tony Brasier

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Iconic homewares retailer Homeart is set to be liquidated, with all 103 stores nationwide set to close and around 550 staff to lose their jobs.
The news comes after Daniel Austin Walley, Phil Carter and Mark Robinson of PPB Advisory <a href="https://www.smartcompany.com.au/finance/cashflow/45441-homeart-collapse-homeware-retailer-up-for-sale-after-being-placed-in-administration">were appointed administrators of Homeart on January 23</a>. Rumours of a possible liquidation had <a href="https://www.smartcompany.com.au/finance/cashflow/46203-homeart-liquidation-fears-grow-with-103-stores-and-550-jobs-on-the-line">circulated among staff in recent days</a>.
SmartCompany understands the only Homeart stores still trading in Victoria are the outlets at Broadmeadows and Northland, with all other stores closing and their staff made redundant as of Wednesday.
Staff were told by store and state managers that administrators PPB Advisory had not found any buyers for the chain and have decided to close all its stores in Australia.
Along with a redundancy letter, employees were given an information sheet from the Australian Securities and Investments Commission about insolvency.
“We advise that your store has ceased to trade and the company no longer requires your services under your contract of employment. Accordingly, your employment is hereby terminated as at the date of this letter,” the redundancy letter said.
“Your payment summary will be forwarded to you at the end of the financial year.”
One of the chain’s Victorian employees, who asked not to be named, told SmartCompany yesterday was her last day with the company.
“Just before the administration our pay was late, which we realise now was probably due to a lack of funds and we were receiving emails telling us to pre-bank as much as we could during the day so that our pay would go through,” the employee says.
“The staff at my store were told all of the stores in Victoria would be gone before Easter, so Broadmeadows and Northland don't have long left,” the employee says.
<a href="https://www.smartcompany.com.au/images/letter-1-2448.jpg" title="Bluewire Media"><img src="https://www.smartcompany.com.au/images/letter-1-2448.jpg" width="600"></a>
<a href="https://www.smartcompany.com.au/images/letter-2-2448.jpg" title="Bluewire Media"><img src="https://www.smartcompany.com.au/images/letter-2-2448.jpg" width="600"></a>
Click to enlarge.
The employee says high shopping centre rents may have contributed to the company’s financial woes.
“There have been lots of complaints about the rent [in my centre] from the GPT Group being too high,” the employee says.  
“Other shops in the centre have vacated like Equip and Rubi Shoes, now Homeart. The Gloria Jeans franchise near us is rumoured that it will be bought back soon because the store isn't performing well, the hairdressers have apparently got plans to leave the centre because the GPT Group put a competitor directly in front of their store.”
In early February, PPB Advisory closed Homeart’s 13 worst performing stores, with Walley at that point still holding out hope the administrators could find a buyer for the chain.
“While this is a very regrettable development, our priority at this time is to reshape Homeart into a sustainable retail business, which ultimately may help to protect the interests of the remaining employees. The closure of these underperforming stores is a necessary step to achieving this,” Walley said at the time.
“The remaining 100 stores will continue to operate on a business-as-usual basis whilst a review of the business continues. PPB Advisory is engaging with a number of potential purchasers to ensure we achieve the best possible outcome for the business.”
The iconic homewares chain was launched as Copperart by Amy Van Roest and her husband Aart in 1978 and its first store was located on Canterbury Road in the eastern Melbourne suburb of Blackburn.
Between 1999 and 2001, the company rebranded as Homeart to indicate it has shifted from selling copper and brass ornaments to a full range of cookware, manchester, electrical goods, toys and fitness products.
Before its collapse, Homeart had total revenues of $61,430,000 according to IbisWorld, with Van Roest continuing to serve as its managing director, and its headquarters having moved to New South Wales.
This article first appeared on <a href="https://www.smartcompany.com.au/" target="_blank">SmartCompany</a>.
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