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 most affordable property reported sold at Melbourne weekend auction was a one bedroom Essendon unit.
The 10/29 Raleigh Street offering sold for $260,000 by Considine Real Estate.
It is leased at $999 a month until October, reflecting a 4.6% yield.
Chauntel Considine at Considine Real Estate marketed the top floor one bedroom apartment as a "fantastic first home or investment opportunity in the heart of Essendon".
It sold to an investor who aims to update the unit.
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jchancellor-FAypfDUnLy

Essendon unit was the most affordable auction offering across Melbourne

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The 1860s Pommy Lodge, the former church and manse, was passed in at $1.4 million at its weekend North Willoughby auction.
It was the home of the late artist John Butler, whose family owned the property for around four decades.
Forsyth agents Di Burcham and James Snodgrass had <a href="https://www.realestate.com.au/property-house-nsw-willoughby-119184479" target="_blank">th</a><a href="https://www.realestate.com.au/property-house-nsw-willoughby-119184479" target="_blank">e 1860s sandstone offering</a>.
The enchanting cottage is located at 105 Penshurst Street.
The site contained a two roomed wooden school building, which Eliza Davies opened as a Bush Mission School in June, 1862, the first school on the north side.
The following year in July, it was relaunched as the North Sydney National School, when it came under the government school ­system.
The building of Willoughby Public School in 1863 made it redundant.
The North Sydney Congregational Church was officially opened in 1872. In the late 1880s the Congregationalists built a larger church on the corner of Church Street and the old church became the manse.
In 1896 George Leafe, owner of a general store in Penshurst Street, bought the manse and converted it into a residence.
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Pommy Lodge, the 1860s North Willoughby enchanting cottage, passed in

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National auction success rates have racheted down from levels, according to CoreLogic RP Data.
A preliminary weighted average clearance rate of 77.4% was recorded this week across capital cities compared to 77.2% last week and 69.4% this time last year.
<img src="/images/2015/03/23/auctio-mar-24-two.jpg" alt="">
Source: CoreLogic RP Data
Last week there was a preliminary weighted average clearance rate of 78.3%, a six year high.
A 79.7% clearance rate was recorded in September 2009. 
<img src="/images/2015/03/23/auctio-mar-24-one.jpg" alt="">
Source: CoreLogic RP Data
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National auction success rates rachet down from recent levels: CoreLogic RP Data

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Sydney’s residential market currently reflects a trifecta of settings driven by lack of supply, population growth and low interest rates (cheap money).
In combination these factors are impacting affordability, partly because the current market is very competitive.
Then we see interest rates at lifetime lows and a very mixed picture concerning employment that I think extends beyond the headline numbers, and so each has a big influence on the make up of current demand.
When looking at affordability, I think we also need to look at the competition that exists in the market because of population growth and the impact that this has on demand. 
First let’s just recall the fact that there has been a big gap in the supply of new dwellings in the Sydney market since 2001-2002 with supply at their lowest levels in 2007-2008 and again in 2008-2009. Looking at net migration numbers during this same period there are some figures that further help to explain why demand for housing was so strong.
The last time the number of net migrants to Australia was below 100,000 plus per annum was in 1999 at 96,500 new arrivals, but since then there has been strong growth in numbers at a time when our own domestic birth rate has also been on the increase.
In 2006-2007 net migration increased by 58%, peaking at almost 300,000 new arrivals in 2008-2009, and at that time supply was in free-fall. Currently for 2015 we are looking at approximately 215,000 new arrivals and we also need to remember that the birth-rate is also increasing. The combination of falling supply and strong population growth was always going to impact affordability because of rising prices.
<ul>
<li>Age Profile Adds Pressure</li>
</ul>
Affordability is, I suggest, also tied into the fact that currently Australia’s age profile adds to the pressure of demand because, I think its reasonable to suggest that by 35-40 most potential buyers would already like, if they could, to be established in the housing market.
Australia’s median age currently stands at 37.3 years of age and when you look at the average age profile of the top four countries of origin we see that those arrivals from the UK are aged 54, from New Zealand 40, from China 35 and from India 33, and in each case for varied reasons these are prime ages in the housing market.
A report published late last year by website, realestateview.com.au showed that 60% of first home buyers were now married and having children before they could afford their first home, and the same report also found that 57% of first home buyers are now in their 30s or 40s. This all makes for a very crowded peak of demand in these various age brackets.
<ul>
<li>Affordability &amp; The Deposit Gap</li>
</ul>
Low interest rates look like they are going to be with us for sometime yet and this is good news for anyone with an existing loan, and there is no doubt that low rates are a key driver of demand. So much so that there are suggestions that investors might soon face some form of loan restriction, which would be a major shift in policy for a ‘free-market’ government.
However while low rates do continue to drive demand, affordability is a real hurdle more associated with buyers having to have their traditional 10% deposit, which would currently have to sit (in the Sydney market at least) around $80,000 – $100,000, plus an allowance for other costs, and while there is some limited stamp duty relief, a deposit at this level requires pretty good earnings and saving capacity, or a big helping hand from mum and dad.
Help from parents in helping to fund their kids into a home is now very common, and it’s a trend being experienced in many countries. However with parents dipping into their capital or savings this might impact retirement plans, and in the USA as one example this impact on retirement plans has raised the question, 'are your kids ruining your retirement’ – so it’s a more complex picture.
Weekend reports suggesting, yet again, that first time buyers should have access to their superannuation, does merit more thought, in particular if buyers are in the age brackets above. It seems overly simplistic to dismiss this suggestion, because really it simply moves money from one asset class, super, into another, housing and in doing so helps create many social benefits.
I think this also goes some way to clearly show how complex an issue affordability is across the housing market, and we have not even touched upon what might be done with the actual physical built product to help. Such as smaller homes and the idea of more use of pre-fabricated homes.
<ul>
<li>Employment &amp; Interest Rates</li>
</ul>
No matter what the state of the market is, stable secure employment is a vital element. Currently the economy is in a state of transition and last year we saw some very big job losses in manufacturing, and now falling commodity prices are also impacting some areas of mining.
If we have a combination of rising interest rates and higher unemployment then house prices would respond, but that combination looks unlikely. Currently the rate in January was 6.40% however there is a degree of debate going on about the ABS figures and some private sector polls, such as that conducted by Roy Morgan Research suggest the rate is much higher.
However for many years between the mid-1970’s to the early years of the 2000’s the rate was more commonly near 7.5%, if we returned to that sort of figure then the housing market would change dynamics. To prevent this we will continue to see the need for structural reform, which is a hot topic for government. We will continue to keep a very keen eye on these figures.
Alongside unemployment rates, we know that we have home loan rates that are now for variable loans well below 5%, and while loans will always vary between lenders, among the big banks we are looking at around 4.73%, but then if we look at five-year fixed rates, again dependant upon loan term rates as low as 4.29/4.39%, which seems to indicate we are locked into low rates for a while yet.
I think that the market is clearly very active. I do not need to tell anyone that fact, development in Sydney, Melbourne and Brisbane continues at a solid pace and we have many new players coming into the medium-density market.
Then if we look at all of the dynamics at play for buyers, for the economy generally and the seemingly difficult path of government policy reform, I think that the housing market is more complex than it has ever been, but the fact is demand remains. We have to work with the shifting demographics and ensure we deliver the best product where people wish to live, be they owner-occupier or investor.
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pchittenden-eLqUUC8TWW

The Sydney market trifecta - lack of supply, population growth and interest rates: Peter Chittenden

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A house in the Trillium Estate will be auctioned off for this year's Royal Children's Hospital Good Friday Appeal.
The Sahara Belle Q1 house by Henley Properties will be sold with all proceeds going <a href="https://www.gfacharityhouse.com.au/#charity-auction" target="_blank">towards the appeal</a>.
No reserve will be set at the auction of the four bedroom, three bathroom house. The home, set on a 448 square metre plot in Villawood Property's <a href="https://trillium.villawoodproperties.com.au/" target="_blank">Trillium development at Mickleham</a>, in Melbourne's north.
The double storey house has five living areas and opens through timber stacking doors to an outdoor entertaining space with merbau decking.
The kitchen includes a walk-in butler's pantry and a 900mm cooktop, twin wall ovens and a built in coffee machine, as well as a dishwasher. It also includes Caesarstone benchtops, as do the bathrooms and en suite.
There is timber flooring throughout some living areas, with carpeted bedrooms.
The house also includes ducted refrigerated air-conditioning and 5 star zoned heating.
It will be auctioned on Good Friday, 3 April at 2pm at 16 Melody Way, Mickleham. The home is being marketed by Alex Kundevski and Troy Apostolopoulos of Oliver Hume. It will be open for inspection from 5pm til 6pm on Wednesday 25 April.
The auction event will include appearances from Channel 7 personalities and a sausage sizzle hosted by the CFA. A range of suppliers, including Austral Bricks, Hisense, Deckable Decking, All Green Nursery all donated their services or materials towards the home.
The <a href="https://www.henley.com.au/new-home-collections/clendonvale/sahara-series/belle-q1" target="_blank">Sahara Belle Q1</a> house usually costs $297,900 (not including land). The Trillium development is located 32 kilometres north of the Melbourne CBD, just north of Craigieburn. Last year, <a href="/news/henley-and-villawood-team-up-again-for-good-friday-appeal-children-s-charity-house-auction-offering">Henley and Villawood raised $717,000</a> for the Good Friday Appeal when they auctioned off a house in the Aspire community in Plumpton. 
This Easter marks the Good Friday Appeal's 85th year of contribution to the Royal Children's Hospital.
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jrichardson-uRX5hFdKfN

Mickelham house and land package to be auctioned for 2015 Royal Children's Hospital Good Friday Appeal

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New home buyers are paying more for less with lot sizes falling and median prices rising around the country, a report from the Urban Development Institute of Australia (UDIA) has revealed.
The median size for a new lot nationally fell by 3.6% over 2014 while the average price for a new lot in Australia’s five largest capitals rose by 4.2%, according to the latest UDIA State of the Land Report.
The seventh annual edition of the report noted an ongoing trend of falling lot sizes over recent years. It put the declines down to limited land supply, the high cost of land and affordability constraints felt by new home buyers.
At 474 square metres, the median size of a new lot is now 11.4% smaller than in 2009.
Prices for land in the five biggest cities are up by 22.5% since 2009 with the median price for a new lot now at $246,300.
Nationally, new home buyers paid an average of $527 per square metre in 2014, up 9.5% from the previous year, and up 40% since 2009.
The research, conducted in partnership with Charter Keck Cramer and Research4 using data from the National Land Survey Program, also showed a marked increase in the number of new lots released in 2014 compared with the previous year.
Melbourne saw a 60% increase in lot releases, the largest rise of the capital cities, with 4791 more new lots offered in 2014 than in 2013.
The number of new lots released in South East Queensland rose by 55% compared with 2013.
The strong lift in supply in both Melbourne and South East Queensland constrained price rises in the areas, despite strong buyer demand, the report showed.
In Sydney, prices continued to rise despite a 29% increase in the number of new lots released. The UDIA noted that new supply had consistently been unable to keep up with in demand in the city.
As demand outstripped supply, lot prices in Sydney rose by 5% in 2014. Prices have risen by 15% since 2012.
Lot sizes in Sydney have also shrunk the most. The average lot in Sydney was 450 square metres in 2014, down by 11.6% compared with the year before when the average lot was 509 square metres.
In line with rising prices and falling lot sizes, land prices per square metre in Sydney increased by the largest margin of the capital cities. Price per square metre rose by 18.7% from $636 to $755.
New lot prices in Perth rose by 9.4% spurred by demand. The report noted population growth in Perth continued to be the strongest of the states despite having slowed as mining investment recedes.
Prices were flat in Adelaide where the market remains depressed. 
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zfielding-GvX3Uq9KTa

New home buyers paying more for less: UDIA

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Over the second half of 2014 capital city home sales fell, with the decline in-line with a softening in growth in home values. Interest rate cuts in 2015 may result in a rebound in sales activity this year.
Based on CoreLogic RP Data’s estimates of residential sales transactions to December 2014, there were 471,932 dwelling sales nationally. Despite the growing trend to more units being constructed, house sales still account for the overwhelming majority of sales. 
Over the year there were 339,902 house sales (72% of all sales) and 132,030 unit sales. Based on these figures, house sales were 0.2% higher over the year unit sales were -6.4% lower. Keep in mind that although we attempt to estimate for off the plan unit sales, they are likely to be revised higher as they settle. The settlement period for off the plan unit sales can take more than 12 months as the project is constructed. Off the plan sales ultimately get recognised at their contract date upon settlement.
 
Rolling annual dwelling sales, Nationally
<img src="/images/2015/03/23/rp-mar-23-one.jpg" alt=""> 
 
If we take a look at the capital city housing markets we see similar trends. Over the 12 months to December 2014, there were 218,479 house sales and 99,707 unit sales.
Compared to annual sales in 2013, combined capital city house sales were 2.8% higher while units were -7.0% lower resulting in a -0.5% overall fall in capital city sales.While at a national level house sales accounted for 72% of all sales, across the capital cities they accounted for a lower 68.7%. Again, we may see the number of unit sales revise higher as off the plan settlements take place.
 
Rolling annual dwelling sales, Combined capitals
 
<img src="/images/2015/03/23/rp-mar-23-two.jpg" alt="">
The trend both at a national and combined capital city level was that the number of sales fell away over the second half of 2014. The same trend was noted in terms of home value growth. After the annual rate of capital city home value growth peaked at 11.5% in April 2014, the rate of growth slowed to 7.9% annual growth by the end of 2014. Value growth has re-inflated over the first two months of 2015 and the recent interest rate cut may also contribute to faster growth, this is also likely to result in a rebound in sales transactions.
Across the individual capital cities, the number of house sales was higher in 2014 than in 2013 across most cities. The exceptions were the markets where value growth has slowed most markedly in 2014; Perth (-9.4%), Darwin (-4.8%) and Canberra (-2.7%).
Elsewhere, house sales have increased by 3.4% in Sydney, 5.1% in Melbourne, 8.9% in Brisbane, 6.9% in Adelaide and 8.0% in Hobart. Although house sales were generally higher in 2014 than in 2013, most cities have seen an easing in transactions over the second half of 2014 with Melbourne and Hobart the only cities where sales volumes have continued to trend higher.
 
Rolling annual house sales, major capitals
 <img src="/images/2015/03/23/rp-mar-23-three.jpg" alt="">
Turning to the unit market where across the combined capital cities the number of sales has actually fallen over the past year. Across the individual cities, only Melbourne (1.0%), Adelaide (5.7%) and Darwin (24.2%) recorded an increase in transactions over the year. Elsewhere, unit sales fell -13.8% in Sydney, -2.6% in Brisbane, -16.1% in Perth, -1.0% in Hobart and -14.5% in Canberra. 
 
Rolling annual unit sales, major capitals
 <img src="/images/2015/03/23/rp-mar-23-four.jpg" alt="">
It is also interesting to look at the proportion of house sales across each city. It shows that units are much more prevalent across the east coast capital cities as well as Darwin and Canberra. Over the year, the proportion of total sales that were houses across the capitals were recorded at: 60.8% in Sydney, 68.9% in Melbourne, 70.3% in Brisbane, 75.9% in Adelaide, 82.6% in Perth, 77.1% in Hobart, 62.1% in Darwin and 59.9% in Canberra.
The sales volume data also reveals that despite ongoing strong rates of population growth and buoyant housing market conditions over recent years, the number of dwelling sales has not risen by a commensurate amount, with the number of sales well below what was recorded over previous growth periods. 
Across the individual capital cities, the peak in annual sales were recorded at: April 2002 in Sydney (136,925), December 2007 in Melbourne (105,264), September 2003 in Brisbane (74,941), January 2008 in Adelaide, May 2006 in Perth (56,850), October 2003 in Hobart (7,425), July 2006 in Darwin (4,469) and June 1992 in Canberra (13,655).
Across all cities, the number of home sales over the past year has been significantly lower than these peaks. This suggests that for one reason or another, despite a higher population, a smaller proportion of people are buying and selling homes.
The high entry and exit costs of homes in Australia are likely the major reason, the two biggest costs are stamp duty and agent commissions both of which are higher as home values increase as they are levied off the purchase (stamp duty) and sales (commission) prices. Other factors might include less participation from first home buyers and the high rate of savings where more households are focussing on debt reduction.
 
Annual house and unit sales, year to December 2014
 
<img src="/images/2015/03/23/rp-mar-23-five.jpg" alt="">
Sales volumes eased over the second half of 2014 in-line with a slowing of home value growth. With mortgage rates moving lower in February 2015 and expected to reduce further during 2015, there may also be a rebound in sales activity. Despite a potential rebound, transaction volumes are likely to remain below historic peaks.
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ckusher-ujnxiKuFQs

Will lower mortgage rates reinvigorate the taper in dwelling turnover? Cameron Kusher

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There were 35 sales at $600,000 or under at weekend auction across Sydney.
APM had the house median at $1.2 million and the unit median at $800,000.
There were just the four Sydney sales in the $400,000s among the 600 results.
A $385,000 Marrickville flat was the cheapest, excluding one cheapie at Gorokan in the Central Coast. But the Marrickville sale reflected a 4% yield based on its September 2014 rental asking price.
The sale was achieved pre-auction when an investor secured the 39 square metre flat at 4/3 Ann Street, Marrickville (pictured above).
The freshly painted, first floor one bedroom apartment was marketed as ideally suited to the first home buyer or investors. 
The First National Iskandar Real Estate agents Taylor Spratt and Tony Iskandar advised its rental was around $300 per week
The strata levy was $554 per quarter, the water at $176 per quarter and council at $276 per quarter.
The super strong Sydney weekend auction market recorded its highest ever clearance rate for a regular weekend on Saturday with APM's result of 86.1%. The previous highest was an on federal election in September 2013 when 86.5% was achieved on slim 200 volumes.
Four suburban regions reported clearance rates in excess of 90%.  The best was the north west with 94.7% followed by Canterbury Bankstown 92.9%, the city and east 92.2% and the northern beaches with a clearance rate on Saturday of 91.1%.
The inner west had a still strong 88.2% clearance rate, the same recorded by the south. Next best was the lower north with 85.5% followed by the upper north shore 83.2%, the south-west 77.4%, the west 75% and the central coast 64.7%.
The most expensive property reported sold at auction was <a href="/expert-insights/buying/sandringhams-7-8-million-versace-inspired-trophy-home-tops-sydneys-weekend-auctions">22 Primrose Avenue, Sandringham</a> for $7.8 million by McGrath.
"Sydney’s extraordinary home auction market is starting to defy superlatives but will face its biggest ever test next weekend," Andrew Wilson, the Domain Group senior economist said.
The pre-Easter super Saturday of auctions is set to break the all-time record of 1111 auctions as sellers rush to take advantage before the Easter break of the strongest market in Sydney’s history, he advised.
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Investor secures cheapest sale in Marrickville on record clearance rate weekend

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In August 2014 during what turned out to be the last few months of the Napthine Liberal Government it had become very apparent that Victorian State politics had gone from being design smart to design stupid in a matter of a few of years.

<blockquote>
Within a single term of government from 2010 to 2014 we have gone from a design-intelligent and architecturally progressive State Government, to one which has marginalized those best able to advise it. The public who voted in the Architect Premier in 2010 have every right to feel let down by the party politics that has led to this point.
<cite>Red + Black Architect, Architecture and Politics 25 August 2014</cite>
</blockquote>

In late November, change was upon us as the a new Victorian State Government led by Daniel Andrews swept to power. It has now been over 100 days since the election which is a good time to check in with what is happening or not happening with built environment politics. The following is a report card with a score out of 10 possible marks.

<h2>Consultation with the Australian Institute of Architects</h2>

First up on the checklist is government consultation with architects and the key organisations. Last year it was quite astonishing and very concerning to report that in Matthew Guy’s 4 years as Planning Minister he had only one face-to-face meeting with the Australian Institute of Architects. It is therefore very pleasing to be able to report that within 10 days of taking his office, the new Planing Minister, Richard Wynne has already equaled Matthew Guy’s total number of AIA meetings.

Red + Black Architect (R+BA) score: 1 mark (out of 1 available)

<h2>Consultation with the Architects Registration Board of Victoria</h2>

In 2012 the Liberal Government made the unexpected announcement that the Architects Registration Board would be merged into a new body the Victorian Building Authority.

At the time The Red and Black Architect covered this most contentious issue in three posts:

<ul>
<li>Architect Registration Board to be abolished</li>
	<li>A Red and Black Investigation into the future of the Architects Registration Board of Victoria</li>
	<li>The Case To Retain the Architects Registration Board of Victoria</li>
</ul>
Despite the talk of pushing this change through, the draft legislation was never passed through the parliament, due in part to the 2014 Geoff Shaw political crisis. This has left the Architectural profession guessing as to how registration and the Architects Act will be administered in the future.

The good news however is that this uncertainty is very likely to be resolved in the next few weeks. At this stage it also appears most likely that the ARBV will retain it’s current structure as a stand alone entity as it has since its inception in 1923.

This has the additional benefit of aligning with stand alone registration boards in other States and Territories. It is sincerely hoped by R+BA that in the future a National Architects Registration Board could be developed to facilitate a more interconnected and mobile profession.

R+BA score: 1 mark (out of 1 available)

<h2>Office of the Victorian Government Architect</h2>

The next organisation to address is the Office of the Victorian Government Architect. Here there have also been very positive meetings with Richard Wynne discussing the importance of the OVGA to Victoria’s future.

First the good news. It appears likely that the OVGA will be moving back to where it belongs, reporting directly to the office of Premier and Cabinet. This is where the OVGA can undertake its best work, independent of undue influence with a direct line to the most powerful office in the government. Discussing this exact issue, Michael Bleby recently wrote <a href="http://www.afr.com/business/construction/victoria-planning-minister-wynne-hints-at-greater-authority-for-government-architect-20150311-141boa">this piece</a> for the Australian Financial Review.

<iframe allowfullscreen="" frameborder="0" height="315" src="https://www.youtube.com/embed/JK0CbayWZDQ" width="560"></iframe>

However there is more to fixing the OVGA than just its place in the family tree of influence. It has been almost 12 months since the last Victorian Government Architect, Geoffrey London who is featured in the video interview above, gave notice of his resignation of the role. Since September 2014 the chair has been empty. Now is the time to appoint the next Victorian Government Architect. It would be a very simple step to take and would immediately help the process of finalizing the controversial yet urgently needed minimum apartment standards. The solution could even be to promote Jill Garner the (brilliant) Associate Government Architect to the position of VGA and then hire a new replacement associate.

The other urgent piece of business at the OVGA is to address the funding of the Victorian Design Review Panel. Since 1 July 2014 the OVGA has been forced to go to a watered down ‘user pays’ service which limits the availability of this important review process.

<blockquote>
While a formal cost benefit analysis has not been undertaken due to the difficulty quantifying the benefits conferred by the VDRP, where these have been able to be quantified the benefits considerably outweigh the costs. Feedback from program stakeholders and reviewed project case studies supports this assessment, with 96% of surveyed case study participants indicating that the benefits of participating in the design review process outweighed the costs.
<cite>Victorian Design Review Panel: Program Evaluation, <a href="http://www.ovga.vic.gov.au/images/VDRP_Evaluation_Report_Exec_Summary.pdf">independent review by SGS Economics and Planning</a></cite>
</blockquote>

The cost of bad design can be extreme and persists for the life of the building. If we can design buildings better by subjecting them to thorough expert scrutiny, we can substantially reduce these negative consequences.

R+BA score: 1 mark* (out of 3 available)

* This presumes the OVGA is in fact restructured into reporting directly to the office of Premier and Cabinet

<h2>Flinders Street Station</h2>

<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/1160_26-07-2013_6297.jpg" rel="gallery-all" title="HASSELL + Herzog &amp; de Meuron's winning bid"><img alt="" class="image-article-full-width-580px" height="336" src="/sites/urban.melbourne/files/styles/article_full_width_580px/public/pictures/article-images/1160_26-07-2013_6297.jpg?itok=uFMSIT49" title="HASSELL + Herzog &amp; de Meuron's winning bid" width="580"></a>

<figcaption>HASSELL + Herzog &amp; de Meuron's winning bid</figcaption></figure>In 2013 Melbourne’s most important landmark was the subject of a major international architecture competition to scope the future possibilities for improving the site. This was a fantastic initiative by the Liberal government which enabled a genuine discussion about real possibilities for the future. Despite subsequent criticism from some quarters, the competition was very good value for the taxpayer and generated thousands of response from an engaged public.

Since then it has been left as an unanswered question as to if the winning design will be built. The Liberal Government never promised that there would be funds available and as time passed it seemed more and more likely that the project would not get off the ground.

With the change of government came the predictable move to permanently shelve the redevelopment plans. This decision is a real win for small picture, short term thinking. This building is not just a piece of infrastructure like a power station or toll road. It is our most iconic and identifiable piece of architecture that holds far more value as an icon than as a train station.

In the only upside to this saga the new government has committed $100 Million in funds to seal the leaking roof, restore the facade and upgrade the most talked about toilets in Melbourne. Casual observers of this announcement may have been misled into thinking that this funding would also extend to restoring the ballroom and other interior spaces. Upon reading the fine print however, this funding will only extend to preparing a business case for interior restoration.

The final point to address with Labor’s less than ideal handling of Flinders Street Station’s future are the unfortunate comments that were spoken by both Daniel Andrews and Jacinta Allan aimed to discredit the former Government.

<blockquote>
The Liberals held an indulgent colouring-in competition while the station fell apart. We’re actually getting on with the job.
<cite>Jacinta Allan Minister for transport and employment</cite>
</blockquote>

Describing the enormous effort of some of the world’s very best architects including Pritzker Prize winners as mere ‘colouring-in’ is an absurdly offensive attack on both Architects and Architecture. It is hard to recall an instance where an entire industry or profession has been so needlessly dismissed as frivolous in order to score political points.

R+BA score: 1/2 a mark* (out of 2 available)

* half a mark was deducted for the ‘colouring-in’ remarks

<h2>Infrastructure</h2>

<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/western-portal-copy_1.jpg" rel="gallery-all" title="East West Link"><img alt="" class="image-article-full-width-580px" height="317" src="/sites/urban.melbourne/files/styles/article_full_width_580px/public/pictures/article-images/western-portal-copy_1.jpg?itok=67DUiq3w" title="East West Link" width="580"></a>

<figcaption>East West Link</figcaption></figure>The change of government has seen a most significant change to the State’s infrastructure policy. The 2014 Victorian State Election was described by the Prime Minister as “a referendum on the East West Link”. This has turned out to be quite true with the Labor Government standing firm on their pre-election promise of not building the toll road.

This measure alone is undoubtedly a game changer and a lifeline for Victoria. At a price of $1 million per metre and returning just 45 cents of benefit for every dollar contributed, the East West Link would have crippled Melbourne financially whilst destroying several communities and devastating Royal Park. Whilst the political decision seems to have been finalized there is still much work to be done to permanently prevent this poorly conceived project from making a comeback.

Firstly the Government is still in negotiations with the East West Consortium to cancel the contract without paying for the $1 Billion + super profits that the previous government was so happy to sign away in their morally bankrupt side letter. If this negotiation fails Daniel Andrews has implied strongly that he will take action in the Parliament to legislate a solution. Obviously the consortium should be reimbursed for expenses already incurred. As for claiming to be eligible for profits on a project that they never built, this is exactly the kind of big corporate behavior that sickens hard-working, honest individuals.

The entire East West Link saga can be traced back to politicians bypassing crucial expert analysis to fast track a project for political gain. In order to reduce the undue political interference from future infrastructure investment, the Andrews Government has already begun setting up Infrastructure Victoria. This new body was one of the six issues lobbied for by the Australian Institute of Architects Victorian Chapter prior to the election. The idea of this body will be to act as an independent adviser to the government, which will hopefully also see a logical prioritization of projects based on actual publicly released and positive business cases.

In the final piece of good infrastructure news, the Melbourne Metro Rail Tunnel has been given the new Government’s backing to proceed. According to <a href="http://www.infrastructureaustralia.gov.au/project_assessments/files/2013/VIC_Melbourne_Metro_Brief.pdf">Infrastructure Australia</a> the Melbourne Metro Rail tunnel has a Benefit Cost Ratio (BCR) of 1.2 meaning that for every dollar spent we can expect $1.20 benefit. There has also been public comment by the Premier suggesting that the preferred procurement method may also be shifting from Public Private Partnerships to having construction funded by the Government and then sold off to private operators. Given the currently very low interest rates it seems difficult to fault that logic.

R+BA score: 3 a marks (out of 3 available)

<h2>The Red + Black Scorecard</h2>

All in all it has been a solid start for the new government. Having spoken with various stakeholders who have been dealing directly with senior members of the Government it seems that there is a cautious optimism about the direction we are heading.

The Red+Black Scorecard is as follows:

<table border="1" cellpadding="1" cellspacing="1" style="width: 100%">
<thead><tr>
<th>Action</th>
			<th>Score</th>
		</tr></thead>
<tbody>
<tr>
<td>Consultation with AIA</td>
			<td>1</td>
		</tr>
<tr>
<td>Consultation with ARBV</td>
			<td>1</td>
		</tr>
<tr>
<td>OVGA reporting to Premiers Department</td>
			<td>1*</td>
		</tr>
<tr>
<td>Appoint Victorian Government Architect</td>
			<td>-</td>
		</tr>
<tr>
<td>Fund Victorian Design Review Panel</td>
			<td>-</td>
		</tr>
<tr>
<td>Funding the Restoration of Flinders Street Station</td>
			<td>1</td>
		</tr>
<tr>
<td>Flinders Street Station Design Competition</td>
			<td>-0.5</td>
		</tr>
<tr>
<td>Cancel East West Link</td>
			<td>1</td>
		</tr>
<tr>
<td>Create Independent Infrastructure Body</td>
			<td>1</td>
		</tr>
<tr>
<td>Work towards Melbourne Metro Rail Tunnel</td>
			<td>1</td>
		</tr>
<tr>
<td>Total</td>
			<td>6.5/10</td>
		</tr>
</tbody>
</table>
* This presumes the OVGA is in fact restructured into reporting directly to the office of Premier and Cabinet

<h2>Issues and questions for the next 100 days</h2>

Whilst it has been a breathe of fresh air to have a government willing to have intelligent consultation with architects, there is much work to do over the coming years to address several areas of concern. Minimum apartment standards continue to be a very hot topic which will require real leadership to see through. The OVGA will have significant role to play here, which is why the appointment of a new Government Architect must be a priority.

The Labor Government has also flagged potential changes to the Victorian Civil and Administrative Tribunal appeal process for planning decisions. This will be a very interesting discussion to have on where the line in the sand is. On the one hand is the right of an individual or company to build a project and on the other hand is the right of an individual or company to object.

Perhaps one of the biggest issues we will have to face up to is housing affordability. The current system is pricing families out of the inner and middle suburbs, pushing them to the limits and forcing a high dependence on car travel. Single people and those in creative or caring industries are also finding quality housing difficult or impossible to obtain. The last thing Melbourne needs is a city like London where only the very wealthy are welcome to reside. If the new Labor Government can make inroads with this, they will well and truly deserve a second term.

Michael Smith is Director of Melbourne architecture firm Atelier Red + Black. This article originally appeared on <a href="https://theredandblackarchitect.wordpress.com/">The Red and Black Architect blog</a>

Lead image courtesy thecourier.com.au.
</body></html>

redblackarchitect

The Andrews Government, 100 Day Report Card

<html><body>
A dilapidated home with soiled carpets and hazard tape hanging across its doorways on Melbourne’s foreshore has sold for $4.51 million, during another strong auction weekend in the city.
<a href="https://www.heraldsun.com.au/realestate/news/run-down-home-sells-for-18-million-over-reserve-price/story-fni0ckoj-1227272835908%5D" target="_blank">The Herald Sun reports </a>the Saturday auction of 208 Beaconsfield Parade, Middle Park, attracted around 80 spectators who watched the home soar $1.8 million above its reserve price of $2.5 million.
Five bidders pushed the sale price to $4.05 million in the first 90 seconds, before a Melbourne couple placed the winning bid. The couple plans to demolish the bay-front home and start again, according to the Herald Sun.
But RP Data Victorian housing market specialist Robert Larocca said the result was “not surprising in the least” given the location.
“Middle Park and Albert Park are on a per square metre basis, the most expensive residential properties in Melbourne,” says Larocca, who believes forking out $4 million for land facing the Port Phillip Bay is “not outrageous”.
Larocca says as a seller of a home found in such a premium location, it may not be worth renovating it or doing much work before listing it for sale.
“In some respects you can easily over capitalise, so you may as well leave develop dream to the next person,” he says.
“For the buyer, if you can afford $4 million for land, building the property will hardly be an issue.”
The Beaconsfield Parade home was one of 1,322 properties that went under the hammer across Melbourne at the weekend, ending in a strong preliminary clearance of 78.1%, according to RP Data.
Larocca says volumes are “a touch higher” than this time last year in Melbourne, but the clearance is 10 points higher than the same period last year.
Melbourne contributed to a solid national clearance rate of 77.4%, alongside the continued strength of the Sydney market, which logged a clearance of 84.7% off 1,042 auctions.
The national clearance has remained in the mid- to high-70s for six consecutive weeks now.
Larocca says lower interest rates have clearly had their desired impact across the market.
“At the end of last year, we were entering a diminishing cycle, and I thought we’d see that trend continue, but quite the reverse has been true,” he says.
“Just interest rates alone have had quite a substantially large impact. An impact all those vendors who have listed their homes for sale will be very happy about.”
“The results just speak to very strong market right across the south-eastern seaboard – Melbourne, Sydney and Canberra, and even Adelaide are seeing excellent outcomes.”
Larocca says this weekend will be another strong weekend in terms of volumes, with more than 1000 properties again listed in both Melbourne and Sydney.
This will be ahead of a slow-down for Easter and the school holidays, which traditionally has a significant impact on the Melbourne market.
This article first appeared on <a href="https://www.smartcompany.com.au/" target="_blank">SmartCompany</a>.
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