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 auction battle for 3-5 Fourth Street, Black Rock highlighted the escalating buyer intensity along the Melbourne sand belt and inner east suburbs today.
It fetched $1,010,000 over its reserve price setting a new $3.81 million record for a residential property in the suburb. 
"The previous highest that we could find being $3,775,000 for a contemporary home with pool and tennis court on around 1650sqm of land in May 2010," <a href="https://www.jacobsba.com.au" target="_blank">said buyers agent Nicole Jacobs</a>. Bidding began at $2,450,000, swiftly going past $2,800,000 when it was announced on the market (below) at the Marshall White auction.
<a href="https://www.realestate.com.au/photogallery_new.ds?id=119054395&amp;theme=rea.sold" rel="photos" data-id="119054395"><img src="https://i3.au.reastatic.net/456x342/27c32b444fe77d755cfdb4ba1ec7ada742d91d315297878cea0ded67ba6e0cdf/image2.jpg" alt="3-5 Fourth Street, Black Rock" title="3-5 Fourth Street, Black Rock" data-index="2"></a>
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Once the $3,000,000 barrier was exceeded the increments started to decrease but the pace of bids didn’t, Jacabs noted as at $3,060,000 a third bidder joined the fray.
Selling agent Barb Gregory thought its architectural features including a large open fireplace in the family room, extensive use of cedar, wide eaves had Frank Lloyd Wright influences.
The final $3.81 million sale price was withheld, so it didn't feature in the REIV's top five sales.
A clearance rate of 78 per cent was recorded this weekend compared to 70 per cent last weekend and 72 per cent this weekend last year.
There were 939 auctions reported to the REIV today, the REIV chief Enzo Raimondo advised, the resumption of the auction market after last weekend's Labour Day holiday.
The Black Rock auctioneer Peter Kakos cheekily asked the two final bidders if there was any chance of the two of them moving in together, to which the second bidder quipped “not after this” – a light moment breaking the auction tension. 
It was a 1440 square metre corner block with <a href="https://www.youtube.com/watch?v=2IrDlh0C4Zk" target="_blank">a large 1980’s architect designed home</a>.  
Meanwhile Malvern results topped both house and apartments on the REIV results.
Late week several parties gathered inside <a href="https://www.realestateview.com.au/Real-Estate/106-stanhope-street-malvern/Property-Details-buy-residential-8312666" target="_blank" style="line-height: 1.3em;">106 Stanhope Street, Malvern</a> (pictured above) for a private auction, which ranked as the week's highest house sale. 
Midlothian, the 1891 Malvern property had been renovated by the current vendors by Rosenthal, Munckton and Shields in 1997 and then further enhanced by the addition of a superb pool-side studio, with sub-floor heating, from the same architects in 2006.
Langley says just about every premium offering now has multiple buyers running on it, which is a sign of the depth and heat in the market.
Other Malvern sales included 6 Claremont Avenue at $2.51 million.
 
  
TOP 5 HOUSES 
1. 106 Stanhope Street, Malvern $5,080,000 2. 28 Rowland Street, Kew $3,840,000 3. 11 Collington Avenue, Brighton $3,520,000 4. 13 Springfield Avenue, Toorak $3,225,000 5. 42 Bogong Avenue, Glen Waverley $2,925,000 
TOP 5 BARGAIN HOUSES 
1. 43 Vista Drive, Melton $190,500 2. 1 Argyll Circuit, Melton West $223,000 3. 71 Hilton Way, Melton West $245,000 4. 19 Kynoch Street, Deer Park $291,000 5. 44 Mulberry Pass, Craigieburn $330,000
TOP 5 APARTMENTS
1. 17 Fraser Street, Malvern $3,690,000 2. 26B Shoobra Road, Elsternwick $1,500,000 3. 204/55-62 Beach Street, Port Melbourne $1,480,000 4. 2/48 Albany Road, Toorak $1,320,000 5. 5/20 Yarra Grove, Hawthorn $1,300,000 
TOP 5 BARGAIN APARTMENTS 
1. 501/2 Eastern Place, Hawthorn East $95,000 2. 5/160 Grange Road, Carnegie $240,000 3. 1/156 Station Street, Fairfield $270,000 4. 4/11 Wallarano Drive, Noble Park $275,000 5. 18/46 Baker Street, Richmond $290,000
<a href="https://www.reiv.com.au/Property-Research" target="_blank">Source REIV </a>
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Black Rock $3.81 million auction record, while Malvern makes clean sweep

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Sydney auctions stayed above 80% for the sixth consecutive weekend.
There was an 84% preliminary success rate at auction today, according to Australian Property Monitors.
Last weekend's revised figure was 81%.
A Kent Road, Rose Bay house (pictured above) at $6.5 million was the top notified sale amid the 525 results.
It was the first time it had been offered in 25 years when it sold through Hamish Robertson and Joe Aboud at McGrath Estate Agents.
The 22 Kent Road house had been updated by John Crawford in 1970s, then Michael Suttor in the early 1990s.
The Domain Group's senior economist Andrew Wilson described the weekend results as "Sydney's unstoppable auction market".
The Sydney market with 628 auctions scheduled was similar to the 625 conducted over the same weekend last year.
The most popular Sydney suburb for auctions this weekend is Surry Hills with 13 followed by Mosman 12, Maroubra and Epping each with 9, Drummoyne and Yagoona 7 each and Chatswood, Redfern, Baulkham Hills and Alexandria each with 6 auctions listed this weekend.
Auction listings will continue to rise with the pre-Easter Super Saturday of auctions now looming for the 28 March election day.
Well over 1,000 auctions are likely that day which might go close to challenge the all-time Saturday record of 1,111 set over the same weekend last year under threat. 
"Big auction numbers however are likely to continue to be a snack for a ravenous Sydney home buying public," Wilson suggested.
Strong weekend results included 1 Stansell Street, Gladesville which sold at $2.85 million through Paul Tassone &amp; Ahmad Malas of Professionals Ermington
Auctioneer Rob Trovato of Auction Services saw a huge crowd of around 300 people with 28 registered bidders for the small cottage nestled between a unit block and a service station.
It had a zoning of R4 Mixed Use for its 714 square metre holding.
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Ravenous Sydney buyers keep auctions above 80% for sixth consecutive weekend

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Consecutive Victorian governments have done nothing about real estate underquoting over the last decade, Miriam Sandkuhler, founder of buyer's agency Property Mavens says.
"The newly elected Victorian government is still mute in regards to this ongoing problem in Victoria," she told Fairfax Media.
"It seems the financial and indirect marketing support the Labor government received from the Real Estate Institute of Victoria during the election campaign last year has rendered it deaf and blind to the problem," she claimed noting the NSW Premier recently pledged a crackdown on rogue real estate agents.
"Underquoting is a bipartisan issue as it affects all consumers.
"Both sides of politics need to work together to develop a solution to this problem.
She claimed rogue agents who breached regulations often do so because they have an "exceptionally high chance" of getting away with illegal activity simply because Consumer Affairs Victoria (CAV) doesn't have adequate skilled staffing to police it or a satisfactory complaint handling process. 
"Given this and the 30,000-plus auctions held in Victoria every year, the onus of investigation, policing and enforcement needs to be removed from CAV and handed to an independent body in the form of a real estate ombudsman."
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Victoria needs tougher underquoting laws and enforcement: Miriam Sandkuhler

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To date the No Land Tax political party has only been evident with bright yellow campaign signs on roadside telegraph poles, but that has all changed as the single issue party as won the coveted first spot on the ballot paper for Legislative Council election.
The No Land Tax party drew position A, giving it a reasonable chance of getting its candidate elected. It is running 93 lower house candidates which ought generate assistance for the upper house prospect.
<a href="https://www.nolandtax.com.au/" target="_blank">The party</a> wants a full restructuring of the state's taxation system, including land tax, stamp duty and payroll tax.
A total of 24 groups are contesting the Upper House election. No Land Tax has 16 candidates on its upper house list.
Candidate Peter Jones hopes land tax can be abolished just like death duties were in 1981.
Land tax is levied on investment residential and commercial property and holiday homes in NSW regardless of the income generated by the property. 
The party's website says over 150,000 people are hit with land tax every year in NSW. 
"There is no equivalent tax on share investors," it notes.
"With high property prices in Sydney and NSW, it’s not difficult to be dragged into paying land tax.
"Land tax is calculated on the 'highest permissible use' of the property, so for example, a warehouse that has been rezoned for residential development is taxed at the higher valuation, even if the warehouse tenant has a long term lease.
"It is not uncommon for some property investors to pay more in land tax than they receive in rent."
In 2003 the NSW government collected over $1.1 billion in land tax. The figure is almost $2.4 billion now and it is expected to increase to almost $3 billion by 2017.
Over the years Peter Jones has caught the attention of Fairfax and News Ltd journalists, with 2GB broadcaster Ray Hadley suggesting the party was an interesting invention that would secure plenty of colourful coverage.
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No Land Tax party puts the $2.4 billion issue atop the NSW election agenda

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GUEST OBSERVATION
2015 has kicked off with an abundance of off the plan apartment enquiry on <a href="https://urban.melbourne/apartment-register?utm_source=um_editorial&amp;utm_medium=link&amp;utm_campaign=AR_UM_register" target="_blank">Apartment Register</a>, across Melbourne’s inner city suburbs.
Apartment Register’s 400 enquiry sample has been 90% local owner-occupier, comprised of first home buyer (FHB) and first time off the plan buyers; the remaining 10% is local and overseas investors who typically own more than one property.
The common theme is the preference to purchase in the inner ring suburbs considered to be within 10 kilometres of Melbourne CBD: close to their place of work, friendships groups and public transport. For the most part, the buying experience is overwhelming, navigating through pricing, floor plans and marketing material with the average purchaser enquiring between five and 15 projects over a three to six month search timeline.
The trend for owner-occupier enquiry is the desire to live in what they phrase as a ‘boutique development’, considered to be that of less than 80 apartments with the ideal preferred number at 50 apartments. Owner-occupiers prefer lower annual body corporate fees, as they have existing recreation memberships and wish to settle within a six to 18 month settlement time line from date of enquiry, with an 18 month settlement period the maximum amount of time prepared to wait, prior to moving in.
Single first home buyer enquiry is 70% female (age bracket of 25-35) and 30% male (age bracket of 28-40) with a budget of $400-$450,000 for a one bedroom, one bathroom with car park (preferred over car stacking systems) at a minimum size of 45 square metres. 50% of the first home buyers currently reside at their parent’s residence and have assistance from the parents, with the remaining currently renting with a partner or friend and have saved the 10% deposit without family assistance.
First home buyer couples in the 28-34 age bracket have a product preference for two bedroom, one and a half bathrooms with car park configuration in the $500-$700,000 price bracket. Selection criteria includes natural light to bedrooms, ample ventilation and security system.
First time local investors selection criteria is for two bedroom, two bathroom and car park due to rental yield and flexibility to rent to a couple or friends. The proximity to transport and the number of the apartments within the developments mimics that if they were buying to live in.
The enquiry for over 55 year old downsizers is a healthy demand for two bedroom and study, two bathroom and car park at a minimum size of 80 square metres, with a budget of $700,000 to $900,000. The attraction is the cost of apartment entry, comparable to a townhouse product with lower entry cost and lack of stairs. Half of the enquiry of over 55 year olds still have a child living on premise, which does not deter their timing to sell the family home and downsize within the next 12-24 months.
At a suburb level, the trend in our enquiry data indicates buyers look for suburb corridors and are prepared to choose between three to four suburbs within that corridor area. For example, first preference for many is Fitzroy and Carlton, which depending on available products, clients are prepared to extend their criteria to North Melbourne or Collingwood.
On a suburb level, South Melbourne is the number one requested suburb - with Fishermans Bend gathering momentum with potential buyers - communicating that a complete suburb is not required for venturing beyond for schools, amenities and other services.
First time overseas investors prefer the Melbourne CBD as an investment, or for potential future use by the family when studying in Melbourne for tertiary education. Experienced overseas investors prefer the North Melbourne and Carlton precinct for proximity to Melbourne University and the Southbank precinct apartments for the Crown Entertainment Complex, along with access to the Botanical Gardens and Arts Precinct. Our enquiry indicates the even trend for one bed, one bathroom products up to $500,000 and two bed, two bathroom products up to $650,000.
Cameron T. Clarke is founder and principal of <a href="https://myrealestatemate.com.au/" target="_blank">myrealestatemate</a>.
This article first appeared on <a href="https://urban.melbourne/" target="_blank">Urban Melbourne</a>.
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The first time investor property selection criteria: Cameron T. Clarke

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GUEST OBSERVATION
Home ownership is an important protection against poverty in retirement, and it has been suggested superannuation should be accessible to fund a deposit to help people enter the property market.
Proponents of such a scheme point to the Canadian and New Zealand models, which allow withdrawals to purchase property. These comparisons need to be made carefully.
The Canadian retirement income model does not require mandatory superannuation, and HSBC reports that currently about half of Canadians do not contribute to a Registered Retirement Savings Plan. In the case of New Zealand, the NZ Kiwisaver is a relatively new retirement savings plan, and the default rate of contributions is 3% compared to 9.5% in Australia.
There are two reasons why withdrawing superannuation for a home deposit can be counterproductive.
Firstly, the property market is unregulated and the current housing boom is a direct result of competition for a scarce resource. If first home buyers are allowed to withdraw from superannuation funds, the effect would be to increase competition, thus driving prices up further. This was the effect of the first home stamp duty subsidies that were available over the last decade.
Secondly, accessing superannuation balances would negate the effect of compounding returns over the years to retirement. The average balance of an Australian aged 30 to 34 years in 2011-12 was A$27,772. The Canadian model allows a person and their partner to each withdraw C$25,000 from their superannuation, repaying it over 15 years. If adopted here, this would effectively wipe out the superannuation balance of each of them and would still be less than 10% of the median house price in the major Australian cities. Repayments would need to be in addition to mandatory contributions, and after mandatory contributions, HECS repayments and mortgage repayment, this could result in financial distress for borrowers.
Capital growth could give some protection from lower superannuation balances, but in the context of the family home, the gain would not be realised until the owner(s) downsized, as the usual pattern of home ownership is to sell and repurchase in the same market.
Despite widespread discussion about the proposal, government representatives have said they have “no plans” to change the rules on accessing super.
Lack of reform
The superannuation system is linked to both taxation and the pension system, but since 2007 it has been effectively quarantined from reform.
Contributions and investment earnings in a complying, taxed, superannuation fund are taxed at 15%. Withdrawals are also taxed at reduced rates, and since 2007 have been tax exempt for persons over the age of 60.
Conceptually superannuation is a form of long-term savings that displaces other forms of savings and, according to the ABS is the major financial investment held by most Australians. Our superannuation system is mandatory for employees, so employees earning more than A$450 per month have no choice as to whether they will save through superannuation.
The legal requirement is placed on the employer, but the economic reality is that superannuation is imposed on employees: it is reflected in the take-home pay of employees, notwithstanding the 1987 trade-off between award wages and superannuation.
In the case of a high income earner, the 15% tax rate on superannuation encourages savings into superannuation. However, low income earners who pay income tax rates less than 15% find that most of their savings are locked up in superannuation without any tax concessions. This affects their ability to save for a deposit on a house, or to have funds available in an emergency.
Superannuation and tax incentives
The Henry Review considered the problem of investment bias, although the government excluded tax exempt payments to persons over 60 from the terms of reference. It identified a clear incentive for a high income earner to put money into superannuation, displacing other investment, and a disincentive for low income earners.
Contribution caps limit the amount that can be contributed in superannuation that can subsequently be withdrawn tax free. However they are much higher than the SGC rate giving room for a high income earner to divert savings into superannuation: at the current mandated SGC level of 9.5%, a person would have to earn over A$300,000 pa to breach the non-concessional cap. A member can also contribute up to A$180,000 pa of non-concessional (tax paid) contributions. The tax benefit is that income earned by the superannuation fund on that investment is also taxed at 15% instead of the member’s marginal tax rate. In a self managed superannuation fund the member can then direct the investment strategy personally while taking advantage of the tax shelter.
Since 2013 contributions by very high income earners have been taxed at 30%, but the threshold of A$300,000 (including superannuation) ensures this only applies to a minority of taxpayers.
Balancing super and the pension
The balance between superannuation and the Age Pension is critical to funding retirement income. The mandatory superannuation system was proposed as a means of supplementing, not replacing the pension, and the 2015 Intergenerational Report predicts that by 2055 spending on the Age Pension will be at similar levels to now, but higher numbers of pensioners will be receiving a part pension. In 2011-2012 the average superannuation balance at retirement was A$197,000 for males and A$105,000 for women. Although it is increasing most retirees will at some stage need some support from the Age Pension.
Retirees can game the system by taking substantial tax exempt lump sums remaining eligible for higher rates of pension. When a superannuation fund goes into pension phase, the member is required to withdraw a minimum amount, based on the age of the retiree, but there is no cap. The Murray Report echoed the Henry Review when it again recommended the development of more comprehensive income based retirement products.
While superannuation balances generally are low, lump sum withdrawals can be ascribed to paying down debt and transition to retirement costs, and there is a growing concern that people approaching retirement take on additional debt in the expectation that they will be able to pay it off when they receive their superannuation.
The tax exempt status of superannuation pensions is a more pressing concern. When the member retires and a superannuation fund goes into pension phase both the income of the fund and the amount paid to the recipient are exempt from income tax. In the 2014 year this cost the budget bottom line A$16.3b in foregone revenue and was the 3rd highest tax expenditure. It is difficult to see how this tax expenditure can be maintained indefinitely.
Where to from here?
The fiscal risk inherent in the superannuation system is clear, as highlighted in the Intergenerational Report and the Murray Report.
The options for reform include equalising tax rates across the accumulation and pension phase of superannuation; imposing tax on superannuation accounts with a high balance; taxing contributions by applying a rebate to the member’s marginal rate of tax; lifetime caps on non-concessional contributions to superannuation funds;and making a regular income stream more attractive than lump sums.
The political issue is that governments are not willing to propose reforms that will impact on the current generation of retirees, and continue to quarantine the retirement system from serious review. Until we can openly talk about the lack of sustainability in the retirement income system, we will continue to impose a fiscal burden on future generations.
<img src="https://counter.theconversation.edu.au/content/38165/count.gif" alt="The Conversation" width="1" height="1">Helen Hodgson is associate professor at Curtin Law School, Curtin Business School at Curtin University.
This article was originally published on <a href="https://theconversation.com">The Conversation</a>.
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We need to talk about super, not just first home buyers: Helen Hodgson

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Allowing young buyers to withdraw their superannuation savings to buy their first home would trigger a $31 billion federal budget hole by mid-century, according to indicative modelling by PwC.
Changing super rules to fund housing would cost the government between $500 million and $1.1 billion a year in lost revenue.
Treasurer Joe Hockey has triggered debate since last weekend's reported comments about making super more "flexible" in the wake of the intergenerational report.
The analysis by PwC was provided to The Australian Financial Review based loosely on a similar scheme in Canada, which allows a withdrawal of $25,000 for a first home.
PwC partner Paul Abbey said he assumed that an Australian scheme would be limited to people below 35 years, with around half of those eligible choosing to withdraw $25,000 for a 10-year period.
The loss to government – which taxes earnings on super balances at 15% – would be $1.1 billion in 2016-17, and fluctuate between $611 million and $993 million over the next nine years.
By 2049-50, the figure would hit $2.1 billion, taking the accumulated hit to government to $31 billion, according to the PwC estimate.
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FHB super access would blow hole in federal budget

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The NSW Treasurer Andrew Constance says the Labor Opposition's home buyers stamp duty relief policy was merely reheating a failed Labor government stamp duty policy.
“The Stamp Duty Deferral Scheme is just that – a deferral – which will have to be paid back as a $561 first home buyer tax every month,” Constance said.
“Under Labor’s plan, new home buyers who purchase a $750,000 home and defer paying $29,240 in stamp duty will then be slugged every month, when they can least afford it.”
Labor’s Stamp Duty Deferral Scheme was originally introduced in the mid-1990s, then scrapped by former NSW Labor Treasurer Michael Egan because it was becoming a financial burden on those entering the housing market.
Egan told Parliament in his 1998 Budget Speech: ”The current option of deferring stamp duty… is not working. Only 25 per cent of first-time buyers are taking it, it is more costly to them than the discount option, and many who do take it find that they are creating a later financial trap, with almost 48 per cent of them in arrears.”
“Those who fail to learn from history are bound to re-live it,” Constance said.
“Under Labor’s plan, first home buyers will pay two mortgages instead of one."
The Baird government has first time buyers has receiving a $15,000 grant on new homes worth up to $750,000, with stamp duty exemptions and discounts available for new builds valued between $550,000 and $650,000,” Mr Constance said.
NSW Labor leader Luke Foley told 2GB broadcaster Alan Jones that Sydney needs more land release.
"Part of the answer is supply," said Foley.
"Sydney will have 5.9 million people by 2031, so we need greenfield and infill housing supply."
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NSW Treasurer attacks Labor staggered stamp duty scheme

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The winners of the Le marché international des professionnels de l'immobilier (MIPIM) awards were announced overnight at the annual Cannes property exhibition.
The Frasers Property Group-Sekisui House Australia project, One Central Park won the award for best innovative green building in the 2015 awards.
<a href="https://www.mipim.com/?utm_source=clnr-presse&amp;utm_medium=md_emailing&amp;utm_campaign=mipim2015_live_day3_12032015" target="_blank">MIPIM</a> is attended by 21,000 property professionals from across the globe, organised by Reed Midem. Now in its 26th year, 1000 delegates attended the 25th award ceremony, at which 12 awards were granted from 160 plus initial submissions to MIPIM (Le marché international des professionnels de l'immobilier).
The residential towers at Sydney's One Central Park have won many awards since One Central Park was completed in December 2013.
Designed by French architecture practice Jean Nouvel with Australian firm PTW, the skyscraper’s standout feature is its plant covered walls.
<img src="/images/2015/03/13/central%20mar%2013%20on.jpg" alt="">
<a href="https://www.youtube.com/watch?v=L_9h3BDAOZQ&amp;feature=youtu.be" target="_blank">The other finalists</a> up against One Central Park were:
<ul>
<li>Kastelli Community Centre, Lifecycle Project (Oulu, Finland)</li>
<li>Powerhouse Kjørbo (Oslo, Norway)</li>
<li>The Edge (Amsterdam, The Netherlands)</li>
</ul>
Frasers Australia chairman Dr Stanley Quek's vision for Central Park was not just to create great architecture, but also to create a sense of place – a destination for the entire city, where people can say, ‘Let’s meet at Central Park’.
"This is a rare opportunity to design a new neighbourhood from the ground up, on a grand scale, with the future of Sydney in mind,” he foresaw.
In November 2014, One Central Park was declared the Best Tall Building Worldwide by the esteemed Council for Tall Buildings and Urban Habitat, in Chicago.
All photos supplied. Representing the joint venture partners at MIPIM were: 
Ken'ichi Ishida, Sekisui House 
Lisa McCutchion, Frasers Property 
Patrick Blanc
Elisabeth Kather, Ateliers Jean Nouvel, France 
Philippe Stanfield Pinel, Ateliers de Yann Kersale, France Full list of winners is on the next page. Please click below.
<hr class="system-pagebreak">
<img src="/images/2015/03/13/central%20mar%2013%20three.jpg" alt="">
BEST INNOVATIVE GREEN BUILDING One Central Park Sydney, Australia Architect: Ateliers Jean Nouvel Developer: Frasers Property Australia, Sekisui House Australia Other: PTW Architects 
BEST HOTEL &amp; TOURISM RESORT  Center Parcs Woburn Forest Bedfordshire, United Kingdom Architect: Holder Mathias Developer: Center Parcs Other: WTI, Schletterer, Edmond Shipway, PBA BEST INDUSTRIAL &amp; LOGISTICS DEVELOPMENT Würth Svenska AB Örebro, Sweden Architect: White Developer: Würth Svenska AB BEST OFFICE &amp; BUSINESS DEVELOPMENT Selcuk Ecza HQ Istanbul, Turkey Architect: Tabanlioglu Architects: Melkan Gürsel &amp; Murat Tabanlioglu Developer: Selcuk Ecza Holding BEST REFURBISHED BUILDING Dreischeibenhaus Dusseldorf, Germany Investor/Developer: MOMENI Group Developer: MOMENI Projektentwicklung GmbH  Architect: HPP Hentrich – Petschnigg &amp; Partner GmbH + Co. KG Other: Black Horse Investments GmbH (Joint-Venture Partner) BEST RESIDENTIAL DEVELOPMENT Krøyers Plads I  Copenhagen, Denmark Architect: Vilhelm Lauritzen Architects &amp; COBE Architects Developer: NCC Bolig A/S BEST SHOPPING CENTRE Markthal Rotterdam Rotterdam, The Netherlands Architect: MVRDV Developer: Provast Other: Corio (investor market floor), Vesteda (residential investor), Amo Coenen and Iris Roskam (artists art piece) BEST URBAN REGENERATION PROJECT Boulevard Euromediterranée – Marseille’s new waterfront Marseille, France Architect: Ateliers Lion – Ilex – Kern et Associés Developer: Euromediterranée BEST FUTURA PROJECT Cité musicale départementale de l’Ile Seguin Boulogne-Billancourt, France Architect: Shigeru Ban Architects Europe – Agence Jean de Gastines Architectes Developer: Bouygues Bâtiment Ile-de-France Other: OFI InfraVia – Sodexo – TF1 BEST FUTURA MEGA PROJECT New North Zealand Hospital Hilleroed, Denmark Architect: Herzog &amp; de Meuron + Vilhelm Lauritzen Architects Developer: The Project Organization “New North Zealand Hospital” Client : Capital Region of Denmark PEOPLE'S CHOICE AWARD Oxygen Eco-tower Jakarta, Indonesia Architect:  Progetto CMR Engineering Integrated Services S.r.l. Developer/Client : Bimantra Citra  Other: Tecnimont Civil Construction &amp; Permasteelisa Group (project management), Cimolai (construction company), Peia Associati (support interior design concept) SPECIAL JURY AWARD Queen Elizabeth Olympic Park London, UK Architect: Erect Architects with LUC landscape architect, James Corner Field Operations with Make Architects Developer: London Legacy Development Corporation Other : MACE, LDA Design with Hargreaves Associates, Atkins and Arup, Buro Four, BAM Nuttall, Balfour Beatty, Lagan, H. And J. Martin, ISG, Skandska, and Buckingham  
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Frasers-Sekisui House's One Central Park project among the 2015 MIPIM winners

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Breen Property will be selling some of the first lots of its highly anticipated stage one at Shearwater Landing by 15 March auction.
<a href="https://shearwaterlanding.com.au" target="_blank">Shearwater Landing</a>, in Sydney’s newest beachside suburb, Greenhills Beach is a masterplanned development with a total of 160 lot sites, in the coastal region near Cronulla.
Stage one will consist of 50 lots, including six iconic Ocean View Lots with auction price guides in excess of $1.7 million. 
<img src="/images/2015/03/13/8x10-Shearwater-20.jpg" alt="">
Nigel Napoli, at Savills Residential Projects, says more than 2,300 enquiries had been received.
“These spectacular, never to be built out lots boast expansive views over the Pacific Ocean and Greenhills Beach, and offer direct access to Don Lucas Reserve and to the water’s edge," said Tom Breen, executive chairman of Breen Property. 
"They are the first truly beachside precincts to be created in the last three decades in the Sydney metropolitan area."
<img src="/images/2015/03/13/home-01.jpg" alt="">
The stage one sales launch will also consist of 44 Hill Side Lots to be launched by private treaty offering on 28 March.
These lots will range in size from 560 square metre to 1,109 square metre.
Greenhills Beach, which is located on the eastern seaboard of the Shire of Sutherland, makes up just one sector of Sydney’s longest continuous surfing beach, encompassing over five kilometres of uninterrupted sand and surf, and extending north from the popular and patrolled Cronulla, Elouera and Wanda Beaches.
The Shearwater Landing site was formerly a Breen Group sand mine. The sand was used in infrastructure such as houses, city buildings and the Sydney Opera House.
Shearwater’s name comes from the Shearwater birds that can be found in the Kurnell Peninsula.
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