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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A CLSA analyst says interest rates in Australia will be less than 1% within two years and could even go to zero.
Christopher Wood, the managing director and chief strategist of the Asian-based equity broking and investment firm, made the forecast in an interview with The Australian Financial Review.
"I think less than 1% within the next two years. They are going to end up a lot lower than people still imagine," said Wood.
The AFR notes the most recent Bloomberg survey of economists indicates an average interest rate forecast of 2% for the end of the year and the first quarter of 2016.
Wood told investors to sell US mortgage securities before the subprime disaster.
"It's not whether interest rates go up, it's whether Australian interest rates go to zero," Wood said.
"When I was in Australia 15 months ago everyone thought that interest rates had bottomed and were going up. But now there is greater awareness among fund managers that it is going to stay lower for longer."
Wood said the drop in gross domestic product means the Reserve Bank of Australia needs to keep cutting interest rates, but it is caught in a difficult position.
"The issue from Australia's central bank standpoint is that it doesn't want to cut interest rates because of the housing market which, from a value point of view, is overextended," he said.
"You do have asset price rises driven by Chinese buying. But the bank is under pressure to cut rates, so I think it will have to come down to macroprudential controls and they are very political."
Wood is in Australia to meet with major fund manager clients. 
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jchancellor-FAypfDUnLy

Interest rates to zero forecast for Australia: CLSA's Christopher Wood

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GUEST OBSERVATION
Whatever one’s opinion on the Intergenerational Report (IGR), it is undeniable that Australia faces challenging economic and personal realities over the next 40 years. Treasurer Joe Hockey has <a href="https://www.smh.com.au/federal-politics/political-news/intergenerational-report-joe-hockey-warns-difficult-days-lie-ahead-20150220-13jnkx" target="_blank">emphasised</a> the IGR highlights the need for Australia to respond to <a href="https://www.pc.gov.au/research/completed/ageing-australia" target="_blank">demographic changes</a>. Proposed responses include extending the average working life and increasing participation by Australian seniors.
On April 14, the Senate Economics References Committee is due to deliver its <a href="https://www.aph.gov.au/Parliamentary_Business/Committees/Senate/Economics/Affordable_housing_2013" target="_blank">report on affordable housing</a>. This report is expected to highlight shortfalls in affordable and <a href="https://www.jchs.harvard.edu/research/housing_americas_older_adults" target="_blank">age-appropriate housing</a>.
These major demographic and housing issues are closely connected. The challenges they present must be tackled against a background of deteriorating economic conditions and an oversubscribed health system.
The issues the IGR raises are many and varied. They are also subject to a plethora of contingencies. However, one issue that cannot be denied is the inescapable impact – one way or another – of an ageing population on Australia’s economic future.
The danger is that the government seems to be emphasising (albeit crucial) issues such as employment and health without taking a broader view of factors, of which housing is pivotal, that will nourish and buttress these aspirations.
Housing is tied to health and productivity
If Australian seniors are to remain healthy and work longer, the importance of appropriate housing cannot be underestimated. Much attention is being paid to the rising cost of health care for an ageing population. However, the nexus between secure accommodation and better health and financial outcomes for older people, the broader community and the economy is <a href="https://whqlibdoc.who.int/publications/2008/9789241563703_eng.pdf" target="_blank">largely overlooked</a>.
If older Australians are more secure in their accommodation, they are more likely to remain employed and in good physical and psychological health. All of the consequential benefits of this flow to the economy and the nation as a whole. Therefore, improved provision of affordable senior housing is vital to enable people to remain employed into their 60s, 70s and even 80s, and thereby lift Australia’s productivity and sustain economic growth.
To pursue these goals in the IGR, the government’s attention must extend to ensuring an adequate supply of affordable and suitable housing for seniors. The population of older Australians is naturally diverse, so individual housing preferences vary significantly.
The major asset of most Australian households is the family home. For seniors, housing equity makes up approximately half of their wealth. However, <a href="https://apo.org.au/research/asset-rich-income-poor-australian-housing-wealth-and-retirement-international-context" target="_blank">research to date</a> suggests few of these households are drawing on this wealth during retirement.
Insecurity has multiple harmful impacts
For older people who do not own a home and must find affordable accommodation in a competitive market, life can be particularly daunting. As social policy researcher Bruce Bradbury <a href="https://www.sprc.unsw.edu.au/media/SPRCFile/25_sprp_41.pdf">has noted</a>: "Australia is unusual in that economic exclusion among the elderly is closely linked to a lack of home ownership (or access to public housing)."
Seniors have different housing requirements to younger people and families. Older Australians <a href="https://theconversation.com/affordable-housing-is-a-problem-for-older-australians-too-21555" target="_blank">often require</a> smaller and more accessible housing located close to services, care and support.
Transitions in later life are complex. These transitions, it has been observed: "…challenge older adults to make projections of a future self and to anticipate their emotional, medical and financial needs."
Older people who are secure in the knowledge that they can stay in their accommodation for an extended period – or permanently – exhibit demonstrably <a href="https://www.pubfacts.com/detail/19246417/Reasons-for-relocation-to-retirement-communities:-a-qualitative-study." target="_blank">better physical and psychological health</a> than those in less stable accommodation. Insecurity in one’s home environment <a href="https://www.researchgate.net/publication/231759516_Anticipating_Relocation_Coping_Strategies_and_the_Meaning_of_Home_for_Older_People">heightens the risks</a> to <a href="https://www.propertyobserver.com.au/https://www.ncbi.nlm.nih.gov/pubmed/17327545" target="_blank">physical and psychological health</a> in the short and longer term, including <a href="https://www.propertyobserver.com.au/https://www.ncbi.nlm.nih.gov/pubmed/17327545" target="_blank">feelings of powerlessness</a>.
Insecure accommodation may also impact on older people’s social situations. They may become reluctant to engage in their local communities. If they have to relocate, they may lose <a href="https://www.healthyhousing.org.nz/wp-content/uploads/2010/01/Housing-and-health-in-older-people-aging-in-place.pdf" target="_blank">support and friendship networks</a>.
The prospect of possibly having to move weighs heavily on older people. This is especially so where options for accommodation elsewhere are limited.
Finally, significant economic costs are attached to the heightened risk of physical or psychological illnesses.
Beyond the headlines, a concerted strategy for an older – but healthier and more productive – population must be crafted. A focus on secure, affordable housing for seniors is a cornerstone for any such aspirations.
Eileen Webb is professor, Faculty of Law at University of Western Australia.
Gill North is associate professor of Law at Monash University.
This article was originally published on <a href="https://theconversation.com">The Conversation</a>.
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po-LsXgBTHBmX

Suitable, affordable housing is key to our population ageing well: Gill North & Eileen Webb

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Hong Kong's Far East Consortium will develop the first Ritz-Carlton hotel in Melbourne.
It will be atop the 79 level high-rise tower to be built at 250 Spencer Street, the former site of The Age.
The hotel will have 250 rooms on the highest 15 floors. 
Yesterday’s announcement follows the news that Ritz-Carlton had partnered with FEC to develop a new hotel at Elizabeth Quay in Perth.
Australia's first Ritz-Carlton was established when property veteran Sid Londish, the chairman of Comrealty, developed the Ritz-Carlton on Macquarie Street in the late 1980s for a Japanese millionaire singer, Masao Sen.
That was around 140 years after Cesar Ritz, a shepherd's son, was born in Switzerland.
Described as "the hotelier of kings and the king of hoteliers" by King Edward VII, Ritz opened his first hotel in Paris in June 1898 with finance from Marnier La Postolle, an old friend and the originator of the liqueur Grand Marnier, and culinary wizardry from Auguste Escoffier.
His idea was not to create a "grand hotel" but a new and original one - a home that would equal the comforts, security and service that discriminating patrons would provide for themselves.
Both Ritz and Escoffier had an interest in the Carlton Hotel in London and they combined their efforts to establish a Ritz-Carlton management company.
In 1910, the Ritz-Carlton opened in New York City.
Sydney's Ritz-Carlton was the 15th member of The Ritz-Carlton group and the first in the Pacific Basin.
Double Bay was the brief the location of the second Australian Ritz-Carlton.
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Far East Consortium to develop Melbourne's first Ritz-Carlton

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The federal government’s proposed changes to the Significant Investment Visa (SIV) program has the potential to shut the program down, according to the property, finance and immigration firm Ausin Group.
From the 1 July the government is planning to force SIV clients into alternate asset classes, restrict investing in residential property and prohibiting the direct purchase of government bonds.
Joseph Zaja, the managing director of Ausin Group says the proposed changes are seeking allocations of up to 50% in venture capital and micro-cap companies, which are considered high risk investments. 
“The Australian venture capital and micro-cap sectors are very small," Zaja said.
"It would be difficult to find investment opportunities and the expertise to significantly increase this allocation which would be required under the proposed visa guidelines in the short-term.”
“Under the proposed rules Ausin’s immigration consultants expect investors to shun Australia’s SIV program and start to look for more viable alternatives such as business visas or the Investor Stream Visa.
"They also expect interest in Canada and the USA’s comparable visa programs to increase as their programs are more affordable when compared to Australia’s visas.”
Ausin noted that according to Australian Private Equity &amp; Venture Capital Association Limited’s (AVCAL) 2014 Year Book, over the last five years approximately $150 million per year was raised for venture capital funds in Australia by on average three or four managers. 
“The proposed changes to the complying investment visa requirements for SIVs has the potential to significantly impact on foreign investment in this country," said Zaja.
"Limiting the venture capital and mico-cap allocations to 10-20% will deliver a manageable increase in capital for these investment sectors. 
“Eliminating the small cap requirement and allowing clients to balance their remaining portfolio with assets of their choice would ensure SIVs remain a viable alternative in this country.”
The company is one of Australia’s largest privately owned companies providing property, immigration and financial services advice to both Australian and Asia Pacific markets.
Ausin sells properties for Australian Stock Exchange (ASX) listed companies and private property developers in Australia and New Zealand. Its offices are located in Sydney, Melbourne and 11 major capital cities in Asia. It employs over 350 staff across these offices.
Under the proposed rules, investors would also be forced to only invest up to 10% in residential property. 
Zaja says he agrees that the SIV complying investment guidelines should restrict the direct purchase of existing residential property, "however investing in residential real estate projects should be encouraged".
“The additional residential housing investment generated from the SIV program provides significant benefits to the real estate sector and country including creating jobs, increasing housing supply and generating revenue from stamp duty," he said.
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Changes to venture capital SIV rules will turn investors away from Australia: Ausin Group

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This week I experienced the hot Sydney property market from two different perspectives. The first perspective was from a friend buying her first home and the second from a friend selling one of her investment properties.
I'll start with my first home buyer friend who with her husband have a budget of around $750,000 and on Sydney's northern beaches this should buy them a two bedroom apartment. It wasn't that long ago that they'd get a small house for this budget but now we are seeing many median prices reach and exceed the magic million dollars. In the Hunter $750,000 would buy them a fabulous mansion or Property Bloom could build them two x three bedroom villas, but they want to live in Sydney.
They've attended several auctions and  seen sales achieved well over the agent's price guides. So they switched to only looking at properties for sale by private treaty. But alas, they are coming up against a similar situation.
My friend asked if I'd inspect a two bedroom apartment that she'd found and had her heart set on. It was a good apartment, two bedroom, two bathroom with a double garage, one with security caging, about 12 years old. It was the second open house and there were about 20 people inspecting when we went through. The property was advertised at 'offers over $690,000'. I did a little research and saw what the vendors had purchased for and found a comparable sale within the complex about four months prior. The sale was at $690,000. So of course the vendor wanted more. Much more we would soon find out.
The agent said the vendor would sell that day and the procedure was to go into the agent's office, write your offer on the front page of the contract and be prepared to exchange contracts if the vendor accepts your offer. They would have a five day cooling off period and pay .25% of the purchase price which is non-refundable. The cooling off period gives you time to complete a strata search, pest and building report and have the contract reviewed in detail by your solicitor or conveyancer.
The agent also explained they'd have a chance to increase their offer if there was a higher one. After the written offers were in, the highest purchasers were contacted by the agent to ask for an increase. My friend's offer was $720,000 and then a bidding war started and ran until 11pm that night when she and her husband bowed out at $780,000. Their budget was $750,000 and so it was lucky they missed out and shows what can happen when emotional buying is at play. The property sold for $785,000 or $95,000 more than the 'offers over' advertised price.
She was of course disappointed but more frustrated than anything else. Being a part of her journey gave me an insight into what owner occupier buyers are going through right now. They want to buy a place to live in and make their home but they are constantly missing out. This is causing people to push their offers higher that perhaps they should and perhaps they can afford.
My second insight came last night as a friend took her three bedroom apartment, an investment property she'd held a while in the inner city, to auction.  We'd spoken earlier in the week and she had decided on a price she wanted to achieve. I thought it was pretty fair considering the location and size of her property, it would appeal to those who couldn't afford a house.
The afternoon of the action she told me her 'expectations had been managed down' by the agent. She'd set her reserve a lot lower than what she actually wanted to sell for and what her research had told her the property was probably worth. She was losing some of her confidence.
She needn't have worried as her property sold within 5% of what she'd originally wanted yet 20% above the agent's recommended reserve price. So why did they want to set the reserve so low?  Was this the range they were quoting to potential buyers, a marketing ploy to attract buyers with lower budgets? Or just a safety net for themselves to ensure it sold at auction and then they could boast that their sale achieved 20% over the reserve?
What do these selling strategies achieve?  Confusion.
In both instances we have buyers trying to work out if a property is within their price range and whether to waste time and emotional energy on pursuing it.
I understand that the agent wants to target the widest market by underquoting or under listing but my first home buyer friend said "Jo, I wish they'd just tell us what they want for the property!"
My seller friend said "I just want to tell them what I want for my property!"  Maybe if she had of done this, she may have achieved another 5% by letting the market know? Nonetheless, she is happy with the result.
<img src="/images/2015/03/20/property_bloom_hi_res%20crop.jpg" alt="">
Whilst I don't understand some tactics, one thing I know for sure is that it's not a good time to be buying property in Sydney unless you absolutely have to. We have reached 'midnight' on the property cycle clock. We're seeing rents coming back as more renters convert to buyers due to the low interest rates and more apartment towers and new land is released.  
It reminds me of a game we played as kids....What's the time Mr Wolf?  How soon will we see an oversupply?  One o'clock?  Two o'clock? Only time will tell.
If you are an investor, look for markets that are still at or below the nine o'clock mark.  Ask me, I know a few.
<a href="https://www.propertybloom.com.au" target="_blank">www.propertybloom.com.au</a>
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jochivers-wq5Bp59R5a

What's the Time Mr Wolf? Sydney's property clock has struck midnight: Jo Chivers

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A new apartment complex developed by Kangoala is set to be located opposite Albert Park Golf Course.
<a href="https://www.queensdomainmelbourne.com.au/" target="_blank">Queens Domain</a>, designed by DKO architects, will have 238 one, two and three bedroom apartments set over 20 levels. The apartments include two penthouses which will be constructed to accommodate custom interiors.
The Queens Domain complex will include 252 car parks, and a variety of communal areas including a rooftop garden, a pool, gymnasium, lounge and dining room.
<img src="/images/2015/03/19/melbourne-march-19-three.jpg" alt="">
Set back from Queens Road, the development has something of a front yard, with its entrance, inspired by Copacabana beach, will also include outdoor seating.
The building's design was in part inspired by its neighbours – DKO Architects have taken their cue from the Frederick Romberg-designed modernist Stanhill and Newborn Flats, said principal Koos de Keijzer.
"The neighbouring Stanhill and Newborn Flats are traditional and functionalist buildings with sweeping open balconies and fine glass detailing," explained de Keijzer.
"Queens Domain takes up the next thread in this story reinterpreting existing elements, while showcasing the design and construction techniques of our time."
<img src="/images/2015/03/19/melbourne-march-19-two.jpg" alt="">
The curvaceous forthcoming building was designed with the intension of creating an impression of upward motion.
Interiors will be designed by Nexus, featuring Snaidero Kitchens and Pianca Wardrobes, with cut limestone flooring. One bedroom apartments <a href="https://www.domain.com.au/property-new-developments/new-apartments-off-the-plan/vic/melbourne-3004-/?adid=2011769242" target="_blank">begin at $389,000</a> and two bedroom apartments <a href="https://www.domain.com.au/property-new-developments/new-apartments-off-the-plan/vic/melbourne-3004-/?adid=2011769396" target="_blank">begin at $617,000</a>.
The development is managed by PDA, who also delivered Prahran's Emporia Apartments.
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jrichardson-uRX5hFdKfN

Queens Domain development to bring 238 new apartments to Melbourne

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CBRE has appointed of Ray Pittman (pictured above left) as president and chief executive officer of the firm’s Pacific operations.
In tandem, CBRE’s long-standing Pacific president and chief executive officer Tom Southern (pictured above right), has been promoted to a new role as executive chairman, Pacific with overall responsibility for the region. He will concentrate on strategy, recruitment and clients.
Pittman is its Colorado, US senior managing director, one of the 52,000 global staff.
He has 28 years' experience in commercial real estate, both in agency and development, having initially joined CBRE in 1985
He had his own Pittman Development Group before rejoining CBRE in 2011.
Photo: Supplied. 
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CBRE's Tom Southern becomes executive chairman as Ray Pittman appointed CEO

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The Garibaldi Inn commercial retail premises at 37 Alexandra Street, Hunters Hill have been sold for $7.8 million.
The landmark property comprises the original sandstone building and two substantial separate retail and commercial buildings. 
The centre has 14 retail and commercial tenants with a total lettable area of approximately 770 square metres and underground parking for 14 cars.
<a href="/expert-insights/investing/sandstone-garibaldi-hunters-hill-commercial-offering">Its full occupied net income was given as $555,885</a>.
It sits within what became known in the 1850s as The French Village, at Hunters Hill, Sydney's smallest and oldest municipality.  
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Sandstone Garibaldi, Hunters Hill commercial offering secures $7.8 million

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GUEST OBSERVATION
Housing is too big an issue to be left untouched in the lead-up to the NSW state election.
After weeks of relative inactivity, there has been a succession of announcements that could affect the NSW real estate market, covering housing supply, the practices of real estate agents and the transaction costs faced by first home buyers.
While claiming to target underlying affordability issues in the housing market, these promises are designed to appeal particularly to prospective home buyers - but could actually worsen affordability.
In fact, the one policy that could make the biggest difference is one that neither side of politics is likely to touch: axing stamp duty altogether.
Meek tweaks to existing policy
NSW Premier Mike Baird made the first move, announcing that if re-elected, his government would <a href="https://www.smh.com.au/nsw/nsw-state-election-2015/nsw-election-2015-baird-pledges-hed-double-land-release-for-new-housing-20150306-13x8un" target="_blank">“supercharge” new housing supply</a> around Sydney through increased land release.
But the reality is that most of the recent and proposed Sydney-based land releases are in areas that don’t match the needs of the target home buyers, especially employment opportunities. Around 30% of lots released in the first term of the Baird government have been in the Blacktown local government area, also covering future growth sites such as Schofields. Department of Employment figures show that this area also has the <a href="https://lmip.gov.au/default.aspx?LMIP/LFR_SAFOUR/NSW_LFR_LM_byLFR_UnemploymentRate" target="_blank">highest unemployment rate</a> in Sydney at 6.3% relative to a city-wide unemployment rate of 5.3%.
Another promise from the NSW Liberals has been to <a href="https://www.dailytelegraph.com.au/news/nsw/premier-mike-baird-pledges-crackdown-on-real-estate-agents-who-underquote-no-fines-issued-since-2004/story-fni0cx12-1227251897133" target="_blank">crack down on the practice of “underquoting”</a> by real estate agents. That’s where agents advertise a property at below what the vendor would reasonably accept, thereby boosting the pool of potential buyers who turn up to an auction.
Underquoting already attracts a fine of $22,000 in NSW, yet is poorly detected. It has been more than 10 years since a fine for underquoting was issued in NSW. Echoing promises made by Denis Napthine prior to his loss at the Victorian state election in late 2014, the Baird government has promised to target loopholes that permit agents to get away with underquoting, increase the penalty and possibly cancel agents’ licences.
For their part, Labor’s Luke Foley has <a href="https://www.smh.com.au/nsw/luke-foley-raises--stamp-duty-overhaul-during-second-election-debate-20150308-13ydxz" target="_blank">proposed</a> a policy that would allow first home owners to pay their stamp duty over five years instead of within three months of the property purchase.
Critics of NSW Labor’s plan question whether it really does help first home buyers to defer payments that will accrue interest in line with inflation.
And by removing this upfront cost, there is additional spending money available in the property search. Essentially, the Labor policy boosts demand in the short term at the longer term expense of first home buyers who will face increased repayment stress.
In fact, a more meaningful and positive impact on the entire housing market could be achieved through scrapping stamp duty on property transfers altogether.
Stamping out stamp duty
<a href="https://www.osr.nsw.gov.au/taxes/transfer-land/about" target="_blank">Stamp duty is a transaction tax</a>, and a significant one in real estate transactions in Sydney. Latest <a href="https://www.corelogic.com.au/research/monthly-indices" target="_blank">CoreLogic RP Data figures</a> show the median house price in Sydney is now over $900,000. On these numbers, a house selling at the median price in Sydney would attract a stamp duty bill of more than $35,000.
Transaction taxes affect all trading behaviour, but the impact is magnified in housing markets. The sheer size of looming stamp duty bills can limit opportunities for people to move house, locking them into a single property. This often hits hardest those in most need of relocation, like people whose living arrangements have changed because of divorce or who need to move for work.
Stamp duty also acts as a drag on the broader economy by restricting the efficiency of property prices, property supply and even labour mobility.
Why is the government too shy to touch stamp duty?
Put simply, the NSW government is addicted to stamp duty.
Current Minister for Planning, and former Minister for Community Services (under which other agencies such as NSW Housing sit), <a href="https://www.smh.com.au/act-news/goulburns-pru-goward-braces-for-a-huge-hit-at-nsw-poll-20150309-13yvw6" target="_blank">Pru Goward describes the situation perfectly</a>: "…We have a housing boom that of course is generating tremendous stamp duty revenue, so our revenue is back in the black and that has enabled us to make spending commitments that we otherwise would not be able to do."
NSW raised <a href="https://www.smh.com.au/nsw/stamp-duty-surge-bumps-nsw-surplus-to-12-billion-20141028-11czfw" target="_blank">more than $1 billion through stamp duty last year</a>. That is a very hard source of revenue for any government to let go of. Unfortunately for voters, it’s also incredibly inefficient.
The Henry Tax review <a href="https://taxreview.treasury.gov.au/content/FinalReport.aspx?doc=html/publications/Papers/Final_Report_Part_2/chapter_c2-4.htm" target="_blank">recommended switching away from stamp duty</a> to broad-based taxes, such as consumption tax or even land taxes. <a href="https://www.cpaaustralia.com.au/professional-resources/taxation/tax-reform-in-australia" target="_blank">CPA Australia</a> recommended something similar. The success of this switch would require cooperation between different levels of government.
More carrot, less stick
But is there a solution in the middle? A key flaw to Foley’s proposal is that it increases demand and is expected to further push up prices. Rather than incentivise first home owners to buy, why not offer an incentive for prospective sellers to put their property on the market?
The “empty nesters”, for example, now nearing retirement and with little need for the family home may be interested in downsizing to a smaller, more manageable property. Stamp duty is a cost that currently creates a disincentive for them to move.
Take away the stamp duty and the government could help create a more efficient housing market where home buyers have access to the right property for their needs.
<img src="https://counter.theconversation.edu.au/content/38536/count.gif" alt="The Conversation" width="1" height="1">Danika Wright is lecturer in finance at University of Sydney.
This article was originally published on <a href="https://theconversation.com" target="_blank">The Conversation</a>.
{mijopolls 97} 
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Killing off stamp duty - a good policy that no politician supports: Danika Wright

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It's not just investor activity, but changing benefits and an increased willingness to sit out of the property game that may be keeping first home buyers out of the market, according to one economist.
At BIS Shrapnel's Melbourne business forecasting conference earlier this week, managing director Robert Mellor commented that while investor activity did put upward pressure on prices, particularly in Sydney, there were other factors which are contributing to declining first home buyer numbers.
<img src="/images/2015/03/19/bis-mar-19-one.jpg" alt="">
He cited the change in some first home buyer benefits as a catalyst for a recent shift in purchasing activity among the demographic. In New South Wales, first home buyers formerly received full stamp duty concessions on established homes, which Mellor explained equated to about a $17,000 benefit on a $550,000 purchase. The scheme <a href="/expert-insights/investing/nsw-to-scrap-full-first-home-stamp-duty-concessions-for-existing-homes-from-2012">ended in January 2012</a>.
"So those sort of changes mean for many first home buyers, certainly in NSW, you suddenly had to find another $20,000," said Mellor.
"So I'd argue the point that one of the problems for potential first home buyers was the change in the rules where grants and stamp duty benefits were only provided for new dwellings, rather than established dwellings.
"They effectively had to find another $20,000 fairly quickly."
The change, Mellor said, may have encouraged potential first home buyers to "sit out of the market for another year" to save more – only to find home price growth eclipsing their increased savings.
"And you've suddenly found that instead of trying to buy a $550,000 property, you were paying $630,000," he explained.
"And that...increase in price obviously totally swamped the lost value of the grants."
First home buyers who were unable to anticipate recent price growth, particularly in Sydney, may have found themselves priced out of the market. After a period of suppressed house prices, Mellor explained, many inexperienced buyers would not have expected prices to escalate in Sydney as they have in recent years. He also acknowledged the Australian Bureau of Statistics' admission that its first home buyer figures may be inaccurate.
<img src="/images/2015/03/19/bis-mar-19-two.jpg" alt="">
"Everybody thought three years ago Sydney house prices were already very high. Well they weren't – they were undervalued in a long term context," said Mellor. However, he said that although Melbourne had not experienced the same price strength as Sydney, a similar situation had occurred when the Victorian government abolished its first home owner grant for established properties. Nevertheless, the declines in first home buyers numbers recorded in New South Wales and Queensland have been "much more severe".
The BIS Shrapnel head also attributed some of the lowered participation of first home buyers to a generational shift in attitudes towards home ownership, with uncertainty about future employment and lifestyles leading some to put off purchasing a home.
Mellor likened the relationship between investors and first home buyers to a "chicken and the egg kind of situation".
"Is it the investors forcing first home buyers out of the market? I would say they were out of the market simply because of the change in the conditions for them, and then once they sat on the sidelines, they couldn't purchase," said Mellor.
{mijopolls 100}
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