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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Prospective buyers saving for a home must save longer, as savings account interest rates are already starting to take a dive following the Reserve Bank cash rate drop at the February meeting.
Finder.com.au listed nine providers, including three of the four major banks, who have dropped interest rates on some of their savings accounts since the cash rate cut, with some by more than the Reserve Bank's 0.25 percentage points according to finder.com.au.
"This is compared to 33 lenders announcing variable home loan rate drops," Michelle Hutchison, money expert at<a href="https://www.finder.com.au/personal-loans" target="_blank"> finder.com.au</a> said.
"While it's expected that savings accounts will fall in line with the cash rate movements, it's interesting to see many of them falling before these lenders have passed on rate cuts to their lending products like home loans and personal loans.
"It's also interesting to see that these lenders have missed off any announcements about the bad news for savers of dropping their savings account rates but happy to announce the good news for lenders with dropping variable rate home loans.
"Financial institutions shouldn't feel like they can't disclose these rate changes like they do with their variable home loan announcements.
"It's a shame that they are potentially hiding these rate cuts by not announcing them. What this means is that savers need to keep track of their accounts and they can't assume that if they haven't seen a rate announcement that their rates won't be dropping. 
"It also shows that more savings accounts could fall before the majority of variable rate home loan changes come into effect from 20 February."
Here are the savings accounts found that have fallen since the RBA rate cut:
<ul>
<li>UBank dropped its savings accounts by 0.25 percentage points on 18 February</li>
<li>NAB dropped its savings accounts by 0.25 percentage points on 18 February</li>
<li>Commonwealth Bank's Goal Saver Account bonus interest dropped 12 February, by 0.25 percentage points: base rate of 0.01%, bonus is now 3.19%</li>
<li>Citibank dropped its Ultimate Business Saver by 0.35 percentage points on 15 February</li>
<li>ME Bank First Home Saver Account: dropped 12 February by 0.25 percentage points from 2.75% to 2.5%</li>
<li>ANZ Online Saver and Progress Saver: both dropped by 0.25 percentage points on 7 February</li>
<li>ING Direct Savings Accelerator: dropped its base rate by 0.25 percentage points to 2.25% on 7 February</li>
<li>ME Bank Online Savings Account: dropped its base rate by 0.25 percentage points to 2.5% on 7 February</li>
<li>RaboDirect High Interest Savings Account DIY Super: dropped its base rate by 0.05 percentage points to 3.15% on 5 February</li>
<li>People's Choice Young Saver Account: dropped its bonus rate by 0.10 percentage points to 1.40% on 5 February</li>
<li>Commonwealth Bank Business Online Saver: also dropped its base rate by 0.15 percentage points to 2.10% on 4 February</li>
</ul>
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jchancellor-FAypfDUnLy

Frustrated home buyers face lower, longer task while saving for home: finder.com.au

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Australia's falling dollar and the promise of a recovering market is drawing New Zealanders back to the Gold Coast, according to one agent.
Russell Barker, a licensee of First National Southport, tells Property Observer that the agency is seeing "very strong enquiries" through its New Zealand offices.
He believes the renewed enthusiasm is in part due to a general increase in foreign interest in the area on the back of the upcoming Commonwealth Games.
"It started about nine months ago," says Barker. After a flat market, stretching back to 2008, and negativity from Queensland's floods, he says new infrastructure built to support the 2018 games is attracting media coverage and buyer interest.
He notes an uptick in development in the area, which can accommodate foreign buyers who are only allowed to purchase new properties. But while much has been made of Chinese investment in the Gold Coast, he says the Chinese market only contributes to about 5% of sales.
Barker believes that New Zealanders aren't simply drawn to the Gold Coast because of the associated lifestyle, but because of investment opportunities.
"Apart from Auckland and Queenstown, there aren't really many places with strong capital growth in New Zealand," he explains.
With the earthquake's impact on the Christchurch market and few solid investment opportunities in Wellington, Barker says investors turn to the Australian market – and the falling Australian dollar, now worth NZ$1.03, is only increasing the appeal.
"When the market crashed, a lot of Australians were buying in America," he notes.
"And now with the dollar changing, we're seeing the reverse," with New Zealand and European buyers considering our market."
Barker says New Zealanders' interest in Australia will "only get stronger and stronger".
"They're really the extra state of Australia," he says. "We openly accept New Zealand, the same as they accept us."
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jrichardson-uRX5hFdKfN

New Zealanders return to Gold Coast as dollar nears parity, says agent

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More than half of the 37 experts surveyed by comparison website <a href="https://finder.com.au">Finder</a> predict that the Reserve Bank will keep the official cash rate on hold at today's meeting.
The 21 respondents who believe the cash rate will stay at its record low of 2.25% include National Australia Bank's chief economist Alan Oster, who said the effects of last month's 25 basis point cut will "take some time" to become apparent.
Although Oster believes that the interest rate will stay on hold, economists from the other big four banks don't agree. Warren Hogan from ANZ, Michael Blythe of Commonwealth Bank and Bill Evans of Westpac all predict that the cash rate will be cut this month.
In general, the experts surveyed predict a low interest rate environment will continue until June 2016.
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Experts split on Reserve Bank's March rate move: Finder 

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For the past three years, dwelling construction nationwide has been rising at an unprecedented rate.
New home construction was up 11% in FY2013, up a further 12% in FY2014 and is on track for another 8% rise in the current financial year.
The Housing Industry Association expects almost 200,000 new homes to be built this financial year or be under construction by June. This is a national record.
Across the nation, residential building approvals have risen 12% in the past 12 months, including a 19% rise in Victoria, a 14% rise in Western Australia and a 34% rise in Tasmania.
We’re at the point where we’re building too many new homes in some locations – and in particular far too many inner city apartments.
But, rather incredibly, the developer lobby is still crying shortage.
Last week the Daily Telegraph, never one to let the facts get in the way of a cheap headline, claimed Sydney is facing “a housing crisis with a staggering 190,000 shortfall in homes needed to house the growing population”.
The newspaper claimed it had obtained “an exclusive report” which revealed the breathtaking news that “Sydney councils have failed to approve new dwellings fast enough to meet demand, and were now partly responsible for the sharp rise in home prices in Sydney”.
Where did this priceless document come from? Yes, you guessed it, it was another press release from the developer lobby, represented in this case by the Property Council of Australia, singing its usual mantra.
In case you’ve forgotten how the manta goes, here it is: We have a chronic housing shortage crisis, despite all the contradictory evidence. And there’s only one way to fix it: give us our wish list and we can make the crisis go away. It’s purely coincidence that all the measures we’re recommending are highly advantageous to developers and builders. No, really, we’re serious.
Here’s the Sydney newspaper’s take on these stunning “research” findings: “More alarming was the finding that over the next decade, families would struggle to find anywhere to live, with an estimated shortfall of almost 20,000 homes a year being approved at current rates.”
So the “staggering” shortfall isn’t a fact, but a forecast concocted by people with a vested interest in having the claims believed.
“Sydney councils need to turbocharge housing supply because right now home buyers and our economy are paying the price,” NSW Property Council executive director Glenn Byres said, if you can believe the Daily Telegraph.
But the Newcastle Herald stretched the truth even further with the ludicrous claim that the Hunter region had a serious shortage of housing.
This region’s property market has been in rapid reverse for the past two years for the opposite reason: an alarming oversupply.
So how did the Newcastle Herald come to this stunning conclusion in the face of all the evidence? It was, once again, the Property Council, which has obviously been pumping out press releases all over the country as part of its relentless, remorseless and baseless campaign to pressure governments into concessions.
The newspaper wrote: “The supply of new housing in the Lower Hunter has fallen short of government targets by more than 23,000 homes in the past decade, with the deficit set to worsen to nearly 30,000 by 2024, a report done for the Property Council says.”
It would be hilarious were it not so serious. The reality is that developers, seeking to exploit the coal mining boom, flooded the Hunter region with far too many new homes – and, with that unerring ability of developers to get their timing wrong, this coincided with a collapse of resources-related demand.
In Singleton, residential vacancies rose from around 1% in early 2012 to about 8% in mid-2013, and remain high at close to 6%. Prices have dropped 15% and it takes six months on average to sell a house in Singleton.
In Muswellbrook, vacancies went as high as 15% and are currently close to 10%. It takes six months on average to sell a house, but only if you’re willing to knock 12% or so off your asking price. Prices are down 7% in the past year.
Cessnock got off relatively lightly, with vacancies going only as high as 6%, but in Greta they were close to 10% and remain above 5%. According to Domain, the average time on market to sell a Greta house is about eight months.
And in Branxton, vacancies hit 15% in 2013, were still 12% in mid-2014 and are currently 6%.
But, hey, don’t be fooled. There really is a shortage. The Property Council wouldn’t say it if it wasn’t true.
Indeed, it made the same sinister warning as the Sydney-based crowd. “Home buyers will pay the price if changes aren’t made to ensure the provision of more housing, the industry group has warned,” intoned the faithful Newcastle Herald, not one to rock the local boat by asking a tough question or two.
One possible question might have been: “Are you out of your freaking minds?”
The Newcastle Herald report, similar to the Daily Telegraph one, talked about the need to “turbo-charge” housing supply in the Hunter region. So clearly the Property Council has spewed forth the same basic press release everywhere, regardless of the local situation.
Hence the farcical outcome in Newcastle, with the local rag claiming that a grossly oversupplied market has a shortage.
TERRY RYDER is the founder of <a href="https://hotspotting.com.au/" target="_blank">hotspotting.com.au</a>. You can <a href="https://mailto:ryder@hotspotting.com.au" target="_blank">email him</a> or follow him on <a href="https://www.twitter.com/hotspotting" target="_blank">Twitter</a>.
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terryryder-YECXbqmri2

The development lobby is still crying shortage: Terry Ryder

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GUEST OBSERVATION
Australia is in the midst of a structural economic change with the mining boom coming to an end as <a href="https://www.macrobusiness.com.au/2015/02/australian-investment-pipeline-falls/" target="_blank">investment in the sector falls</a>. Tourism has been <a href="https://www.budget.gov.au/2011-12/content/bp1/html/bp1_bst4-03.htm" target="_blank">promoted by government</a> as a key source of future economic growth, with some <a href="https://www.professionalplanner.com.au/featured-posts/2015/02/08/winners-and-losers-as-economy-changes-gears-34162/" target="_blank">media reports</a> already stating that tourism has started to recover. But will it really be that easy to shift back from a resource-dependent to a tourism-led economy?
Tourism and the resources sector have cyclically been key exports and drivers of economic growth in Australia. However, the last decade’s mining boom has <a href="https://www.tra.gov.au/documents/Economic-Industry/Economic_Impact_of_the_Current_Mining_Boom_on_the_Australian_Tourism_Industry_FINAL.pdf">negatively impacted</a> on the sector by inflating the exchange rate, increasing competition for labour and delivering a <a href="https://www.sciencedirect.com/science/article/pii/S016073831300159X" target="_blank">‘two-speed’ economy</a>.
During this boom, Australia’s resources sector has encroached on protected areas with iconic tourism attractions and protected areas, such as the <a href="/news">Great Barrier Reef</a>, increasing the risk of the region losing key assets that attract visitation. Importantly, the mining boom has heralded significant structural change in Australia’s economy, with little to no long-term planning for growth once it comes to an end.
A report by the <a href="/news">Griffith Institute for Tourism</a> has found that the transition back to tourism - particularly in regions that have become resource dependent - may be very difficult. Investigating two resource dependent regions in Queensland (Gladstone and Roma), the research found that the regions have become dependent on the resources sector and this has impacted tourism in many ways.
The key impacts of the boom in these regions include: reducing the tourism industry’s ability to attract and retain staff; increasing costs of accommodation, food and fuel for visitors and tourism employees; influencing tourism businesses to adapt to cater for the more lucrative resources sector workers (that is, installing dongas (portable buildings), building up-market motels, offering fine dining); reducing traditional tourism businesses profitability leading to their closure; and straining local infrastructure and support services upon which tourism depends.
The regions have reportedly suffered a decline in their aesthetics, reducing their appeal as tourism destinations. Combined with the busyness and limited amount of affordable accommodation, the traditional leisure markets now avoid or pass through the towns. In Gladstone the resources sector activity has also restricted visitor access to certain areas of the region and impacted on key natural assets that attract tourists, including the harbour and the Great Barrier Reef.
But probably the most concerning impact occurred in Roma, where there was a change in the strategic direction of the local council following the regional council amalgamations in 2008. Prior to the amalgamation, Roma was an example of regional tourism best practice, with a local tourism development officer working with the industry to develop products and market the region. Following the amalgamation, the council decided to grow the resources sector, which strengthened the sector’s capacity to do business in the region.
At the same time, the council struggled to understand and quantify the benefits of tourism, resulting in the revenue generated by tourism being viewed as inferior to the resources sector. The council’s shift in focus away from tourism led to a loss of tourism skills, advocacy and policy from the region. Since then, been very few new tourism developments and the existing tourism products have declined, deteriorated or adapted to service the resources sector.
Fortunately, the Council in Roma is now anticipating the end of the mining boom and have commenced efforts to rejuvenate tourism. However, this rejuvenation process might not be so simple or easy. <a href="https://www.propertyobserver.com.au/https://www.sciencedirect.com/science/article/pii/0261517794900892" target="_blank">Prior research </a> considering the rejuvenation of tourism following an oil and gas boom indicates that it can take a decade of significant product development and extensive marketing to attract the leisure tourist back to a region.
Another issue is that previously resource-dependent regions commonly attempt to attract high-yield tourists and <a href="https://www.propertyobserver.com.au/https://www.sciencedirect.com/science/article/pii/0160738395000615" target="_blank">re-image the region</a> by marketing the destination as dynamic and multi-cultural. This can reduce differentiation between destinations and undermine competitiveness.
This regional picture gives a glimpse to the challenges facing tourism nationally. Shifting the economy back towards tourism may be more difficult than expected. It’s not enough to just market Australia – significant reimaging will need to occur to change the perceptions tourists now have of Australia and its resource-dependent regions.
In addition, without good products and services, which have declined during the mining boom, the tourism industry will not be able to adequately service growing demand and there will be low levels of satisfaction.
Perhaps the most effective policy for ensuring tourism rejuvenation would have been to take a long-term perspective to development that recognised the value of tourism and developed strategies at the start of the mining boom to avoid the loss of valuable products, policy, expertise and skills. As it is, Australian tourism now faces an uphill battle.
Char-lee McLennan is research fellow, sustainable tourism at Griffith University.
This article was originally published on <a href="https://theconversation.com">The Conversation</a>.
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Char-leeMcLennan-qzrkbjqmWu

Moving from resources to tourism is a bigger leap than we think: Char-lee McLennan

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GUEST OBSERVATION
The CAMA RBA Shadow Board is a project by the Centre for Applied Macroeconomic Analysis, based at the ANU, which asks industry and academic economists what interest rate the Reserve Bank of Australia should set. Timo Henckel is the non-voting chair of the board.
<hr>
Timo Henckel is lecturer, Research School of Economics, ANU, and research associate, Centre for Applied Macroeconomic Analysis at Australian National University:
Last month, the Reserve Bank of Australia surprised many by lowering the cash rate from 2.5% to 2.25%, pointing to a likely fall in economic growth over the next 12 months – around 2.25%, well below trend of 3%. Some analysts are calling for another cut tomorrow.
(The RBA Shadow Board had on balance recommended <a href="https://theconversation.com/interest-rates-decision-could-boil-down-to-oil-rba-shadow-board-37037" target="_blank">a policy of no change</a>. Read a further explanation by Shadow Board member and UNSW Australia Business School Professor James Morley <a href="https://theconversation.com/the-rba-cut-rates-we-said-it-shouldnt-heres-why-37666" target="_blank">here</a>.)
Weak labour market data confirms the soft economic outlook, and financial markets are anticipating another possible rate cut during the next few months. The CAMA RBA Shadow Board, however, on balance prefers to hold rates and still considers it necessary that the cash rate is lifted in six-12 months.
In particular, the Shadow Board recommends with confidence that the cash rate be held at its current level of 2.25%; the Board attaches a 64% probability to this being the appropriate policy setting. The confidence attached to a required rate cut equals 14%, while the confidence in a required rate hike stands at 22%.
Recent labour market data underline the cracks in the Australian economy: according to the Australian Bureau of Statistics the unemployment rate jumped to 6.4%, its highest since 2002. The seasonally adjusted labour force participation rate remained at 64.8% but wage growth is weak, 2.5% in nominal terms. Stagnant real wages will put the brakes on consumer spending and make it less likely that GDP growth ticks up again.
The fall of the Aussie dollar has halted at around 78 US¢. There are clear signs the weaker dollar is helping the domestic economy. However, the danger is that Australia is becoming embroiled in the global currency war, whereby countries loosen monetary policy in an attempt to gain international competitiveness.
While feasible for countries individually, collectively the world as a whole cannot devalue (exchange rates are relative prices, not absolute prices), and consequently the world economy becomes inundated with liquidity, leading to all sorts of false price signals and economic dislocations. Such concerns underlie the scepticism towards further rate cuts.
Confidence measures remained mixed. Consumer confidence bounced back in February, with the Westpac Consumer Sentiment Index coming in at 100.70 this month (93.2 in the previous month). Business confidence measures remain largely unchanged, but the most recent estimate of capacity utilisation dropped from 80.53% in December to 79.96% in January. As the economy is rebalancing and trying to come to terms with the many domestic and international uncertainties, consumer and business confidence measures will continue to lack clear direction.
The picture for the global economy looks much the same as in the previous month: Europe is weak while working through a plan to restructure Greek debt, China is steadying, while the US economy remains the only relative highlight in the world economy.
<h2>What the CAMA Shadow Board believes</h2>
The consensus to keep the cash rate at its current level of 2.25% equals 64%. There is little confidence (only 14%) that another rate cut is appropriate whereas the Shadow Board considers it more likely (22%) that a rate hike, to 2.5% or higher, is the appropriate policy decision for this month.
The probabilities at longer horizons are as follows: six months out, the estimated probability that the cash rate should remain at 2.25% equals 31%. The estimated need for an interest rate increase lies at 56%, while the need for a rate decrease is estimated at 13%. A year out, the Shadow Board members’ confidence in a required cash rate increase equals 63%, in a required cash rate decrease 12% and in a required hold of the cash rate 26%.
<img src="https://62e528761d0685343e1c-f3d1b99a743ffa4142d9d7f1978d9686.ssl.cf2.rackcdn.com/files/73395/width668/image-20150302-16172-4vux6y.png" alt="">
<img src="https://62e528761d0685343e1c-f3d1b99a743ffa4142d9d7f1978d9686.ssl.cf2.rackcdn.com/files/73397/width668/image-20150302-16185-112ii66.png" alt="">
<img src="https://62e528761d0685343e1c-f3d1b99a743ffa4142d9d7f1978d9686.ssl.cf2.rackcdn.com/files/73396/width668/image-20150302-16157-7mpd07.png" alt="">
<hr>
<h2>Comments from Shadow Reserve bank members</h2>
Mark Crosby, Associate Professor, Melbourne Business School:
<img src="https://62e528761d0685343e1c-f3d1b99a743ffa4142d9d7f1978d9686.ssl.cf2.rackcdn.com/files/73403/width237/image-20150302-16163-1mthovw.png" alt="">
<img src="https://62e528761d0685343e1c-f3d1b99a743ffa4142d9d7f1978d9686.ssl.cf2.rackcdn.com/files/73402/width237/image-20150302-16182-12nndmc.png" alt="">
<img src="https://62e528761d0685343e1c-f3d1b99a743ffa4142d9d7f1978d9686.ssl.cf2.rackcdn.com/files/73401/width237/image-20150302-16185-1wjhvf9.png" alt="">
“The RBA could use up all its ammunition.”
Having unexpectedly cut last month, it would seem to make sense to hold and wait before moving again. International developments remain uncertain but are stable, and I have a concern that the RBA is using up all of its ammunition before it becomes absolutely necessary.
At longer horizons it still seems likely that raising to more neutral levels rather than cutting rates would seem desirable.
<hr>
Bob Gregory, Professor of Economics at Australian National University:
<img src="https://62e528761d0685343e1c-f3d1b99a743ffa4142d9d7f1978d9686.ssl.cf2.rackcdn.com/files/73405/width237/image-20150302-16188-8dzguj.png" alt="">
<img src="https://62e528761d0685343e1c-f3d1b99a743ffa4142d9d7f1978d9686.ssl.cf2.rackcdn.com/files/73406/width237/image-20150302-16172-197rcfm.png" alt="">
<img src="https://62e528761d0685343e1c-f3d1b99a743ffa4142d9d7f1978d9686.ssl.cf2.rackcdn.com/files/73404/width237/image-20150302-16160-15tliwf.png" alt="">
I did not support the interest rate change last month. Still worried about housing and think we gain very little else from a cut.
<hr>
Guay Lim, Professorial Fellow, Deputy Director, Melbourne Institute of Applied Economic and Social Research at University of Melbourne:
<img src="https://62e528761d0685343e1c-f3d1b99a743ffa4142d9d7f1978d9686.ssl.cf2.rackcdn.com/files/73409/width237/image-20150302-16157-196pwjp.png" alt="">
<img src="https://62e528761d0685343e1c-f3d1b99a743ffa4142d9d7f1978d9686.ssl.cf2.rackcdn.com/files/73407/width237/image-20150302-16172-tv5kb6.png" alt="">
<img src="https://62e528761d0685343e1c-f3d1b99a743ffa4142d9d7f1978d9686.ssl.cf2.rackcdn.com/files/73408/width237/image-20150302-16175-gh1jx2.png" alt="">
“It’s unclear that further cuts would stimulate real spending.”
It would be difficult to make the case for another cut in the cash rate following so soon after the cut last month. This is not to detract from real concerns that growth remains below trend, but one reason for pause is that it is unclear that further cuts would stimulate real spending.
This is not the appropriate forum to discuss economic research, but it is apposite to note that the relationship between spending (in real terms) and the cash rate appeared to have changed post-global financial crisis. From 1993-2007, lowering the cash rate appeared to have had the desired effect of stimulating growth in real GNE, but post GFC, the evidence is not so apparent.
Unless there are clear signals of worsening economic conditions, it seems prudent to keep rates steady rather than risk fuelling asset-price inflation. And there are signs of improvement! The US economy is recovering steadily and growth in China, though slower, is still robust. Meanwhile, the exchange rate has depreciated and consumer confidence has picked up.
<hr>
Jeffrey Sheen, Professor and Head of Department of Economics, Macquarie University, Editor, The Economic Record, CAMA:
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<img src="https://62e528761d0685343e1c-f3d1b99a743ffa4142d9d7f1978d9686.ssl.cf2.rackcdn.com/files/73412/width237/image-20150302-16157-1j2ncz2.png" alt="">
<img src="https://62e528761d0685343e1c-f3d1b99a743ffa4142d9d7f1978d9686.ssl.cf2.rackcdn.com/files/73413/width237/image-20150302-16172-mwkeu5.png" alt="">
“In the absence of a fiscal response, monetary policy carries the burden.”
The Australian economy continues with below-normal activity. There is little on the horizon that might restore normality: the labour market weakened in January with the unemployment rate reaching 6.4% and wage rises showing moderation at 2.7%; planned capital expenditures are showing significant declines, particularly in mining and manufacturing; the TWI appreciated by 3% in February despite continued weakening in commodity prices; and the weighted growth of Australia’s major.trading partners remained modest.
The main downside risk to a further easing of monetary policy is asset price inflation, but this is not an obvious problem at this stage - for example only Sydney and Melbourne housing prices are growing much faster than Australia’s 5%.
The RBA Board judged the evident weaknesses last month to merit a relaxation of monetary policy, and the data releases this month give further support to that judgment. In the apparent absence of a cogent fiscal response, monetary policy needs to carry an even bigger burden for the time being.
This article was originally published on <a href="https://theconversation.com" target="_blank">The Conversation</a>.
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TimoHenckel-dMcwuZpzVD

Labour market weakens, but RBA Shadow Board recommends against further rate cut

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A north-facing home in Sydney's Bellevue Hill was the most expensive sold last week, according to CoreLogic RP Data.
The four bedroom house was sold through Raine &amp; Horne Double Bay for $5.5 million.
Set on a 720 square metre parcel, the three storey contemporary home has views of the city. Various living areas open through bi-fold doors to outdoor entertaining zones, which include a courtyard, gardens, multiple terraces and a gas heated pool.
The home includes an open plan library at the top of the stairs.
The vendors purchased <a href="https://www.domain.com.au/property/for-sale/house/nsw/bellevue-hill/?adid=2011531949" target="_blank">14 Arthur Street in Bellevue Hill(</a>pictured above) for $4.8 million in 2010. In five years, its sale price increased by $700,000.
The home was one of nine from Sydney that appeared in this week's top 10 list. Just one Melbourne home got a look in – a five bedroom house on Kew's Cotham Road was the 10th most expensive Australian home to sell this week at $3.61 million.
CoreLogic RP Data's top 10 sales of the week ending 1 March:
<ul>
<li>
14 Arthur Street, Bellevue Hill, NSW
</li>
</ul>
4 bed, 3 bath, 2 car house 
$5,500,000 
Raine &amp; Horne 
Double Bay
<ul>
<li>
2A Mount Street, Hunters Hill, NSW
</li>
</ul>
5 bed, 4 bath, 3 car house 
$5,060,000 
First National 
Hunters Hill
<ul>
<li>
190 Barrenjoey Road, Newport, NSW
</li>
</ul>
6 bed, 5 bath, 3 car house 
$5,000,000 
L J Hooker 
Mona Vale 
<ul>
<li>
60 Portland Street, Dover Heights, NSW
</li>
</ul>
4 bed, 6 bath, 5 car house 
$4,800,000 
Position Realty
<ul>
<li>
54 Cammaray Road, Castle Cove, NSW
</li>
</ul>
5 bed, 6 bath, 3 car house 
$4,620,000 
Belle Property 
Glebe 
<ul>
<li>
34 Yanko Avenue, Bronte, NSW
</li>
</ul>
4 bed, 3 bath, 3 car house 
$4,082,000 
Richardson &amp; Wrench 
Bondi Beach 
<ul>
<li>
31 Le Vesinet Drive, Hunters Hill, NSW
</li>
</ul>
3 bed, 2 bath, 3 car house 
$3,850,000 
BresicWhitney Estate 
Agents Hunters Hill 
<ul>
<li>
139 Military Road, Dover Heights, NSW
</li>
</ul>
6 bed, 5 bath, 3 car house 
$3,825,000 
Laing + Simmons 
Double Bay
<ul>
<li>
10 Carrington Parade, Freshwater, NSW
</li>
</ul>
5 bed, 3 bath, 4 car house 
$3,750,000 
Clarke &amp; Humel Property 
Manly
<ul>
<li>
266 Cotham Road, Kew, Vic
</li>
</ul>
5 bed, 3 bath, 4 car house 
$3,610,000 
Marshall White 
Hawthorn
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$5.5 million house on Bellevue Hill tops week's sales: CoreLogic RP Data

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The $588,000 Sydney median unit price is dearer than the house median in seven other capital cities, according to RP Data.
It is cheaper to buy a median house in Melbourne Brisbane, Perth, Canberra, Hobart, Adelaide and Perth, according to the latest CoreLogic RP Data report, than an apartment in Sydney. 
The nearest is Canberra where houses have a $575,000 median price.
CoreLogic put the Sydney house median at $780,000, after a 1.6% jump during January. There was an overall 1.4% increase in January for all dwellings to a $680,000 median.
Despite a 2.7 per cent surge in January, Melbourne dwelling values rose just 0.2 per cent in February, according to the CoreLogic RP Data figures.
Adelaide prices rose 0.2 per cent in January, with Canberra’s up by 1.3 per cent and Darwin up 0.9%.
But Perth, Brisbane and Hobart fell, down 2.2%, 0.5% and 0.9% respectively.
<a href="/images/2015/03/02/Picture%2018.png" target="_blank" style="line-height: 1.3em;"><img src="/images/2015/03/02/Picture%2018.png" alt=""></a>
Click above to open in new window.
Source: CoreLogic RP Data Home Value Index
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Sydney unit prices dearer than houses in all other capital cities: CoreLogic RP Data

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GUEST OBSERVATION
Sydney is a city grinding to a halt, with the worst traffic congestion anywhere in Australia.
Our new analysis reveals that over the decade to 2012, the proportion of full-time employees in Sydney who commute for more than 10 hours a week rose from 22% to 29%. Those workers are spending almost three full weeks a year just to get to and from work.
That is one of the new findings in our book, <a href="https://www.propertyobserver.com.au/https://www.mup.com.au/items/154135">City Limits: why Australia’s cities are broken and how we can fix them</a>, published today. It also shows that residents of large areas of outer Sydney have little choice about long commutes - and congested roads and crowded trains and buses are only symptoms of a much deeper problem facing Australia’s most populated city.
Broken cities
While some people are able to commute to their local area, a lack of local jobs means many have to travel further afield. In some suburbs, only <a href="https://grattan.edu.au/wp-content/uploads/2014/04/188_productive_cities.pdf">14% of the jobs</a> available in Sydney can be accessed in a 45-minute car trip. The situation is even worse if you’re reliant on public transport: many outer suburbs of Sydney offer access to <a href="https://grattan.edu.au/wp-content/uploads/2014/04/188_productive_cities.pdf">fewer than one in 10</a> of the city’s jobs within an hour on public transport.
<a href="https://62e528761d0685343e1c-f3d1b99a743ffa4142d9d7f1978d9686.ssl.cf2.rackcdn.com/files/73371/area14mp/image-20150301-16172-11rezwo.JPG"><img src="https://62e528761d0685343e1c-f3d1b99a743ffa4142d9d7f1978d9686.ssl.cf2.rackcdn.com/files/73371/width668/image-20150301-16172-11rezwo.JPG" alt=""></a>
There is a visible different in labour force participation in Sydney, depending on where you live. Grattan Institute, Who lives where: Sydney Productive Cities: Supplementary Maps, May 2013, <a class="license" href="https://creativecommons.org/licenses/by/4.0/">CC BY</a>
Commuting can be stressful and unpleasant. Long drives caused by limited access to jobs and transport <a href="https://transportreform.org/file.php?fileID=143">add thousands of dollars a year</a> to household bills, and makes those households especially vulnerable to <a href="/news">petrol price rises</a>.
Poor access to jobs especially restricts the choices available to women. Because women still do most of the work looking after children or frail older people in Australian households, they are more likely than men to be constrained in how long they can commute for.
These pressures are opening up a big divide between women in the inner suburbs and those on the fringe.
Our research has shown that men and women in the eastern suburbs and inner west participate in the workforce at relatively similar levels. But in parts of Sydney’s outer west and south-west, women’s workforce participation falls to <a href="https://grattan.edu.au/wp-content/uploads/2014/04/189_who_lives_where_sydney.pdf">more than 20% below that of men</a>.
<a href="https://62e528761d0685343e1c-f3d1b99a743ffa4142d9d7f1978d9686.ssl.cf2.rackcdn.com/files/73370/area14mp/image-20150301-16182-1vmviyf.JPG"><img src="https://62e528761d0685343e1c-f3d1b99a743ffa4142d9d7f1978d9686.ssl.cf2.rackcdn.com/files/73370/width668/image-20150301-16182-1vmviyf.JPG" alt=""></a>
 The gap between how many men are in paid work versus women in much greater in some parts of Sydney, especially in the west. Grattan Institute, Who lives where: Sydney Productive Cities: Supplementary Maps, May 2013, <a class="license" href="https://creativecommons.org/licenses/by/4.0/">CC BY</a>
Taking the heat out of Sydney’s housing market
Along with traffic, housing is a hot topic of conversation almost anywhere you go in Sydney.
High prices mean many younger people are locked out of home ownership that their parents took for granted.
One in four Australian households now rent their home, and many face punishing rents and some of the <a href="https://grattan.edu.au/wp-content/uploads/2014/03/800_Renovating_Housing.pdf">worst security of tenure in the developed world</a>.
<a href="https://62e528761d0685343e1c-f3d1b99a743ffa4142d9d7f1978d9686.ssl.cf2.rackcdn.com/files/73374/area14mp/image-20150301-16188-x3qrul.JPG"><img src="https://62e528761d0685343e1c-f3d1b99a743ffa4142d9d7f1978d9686.ssl.cf2.rackcdn.com/files/73374/width668/image-20150301-16188-x3qrul.JPG" alt=""></a>
Australian renters typically have fewer rights and less security of tenure than in comparable nations. Grattan Institute, <a class="license" href="https://creativecommons.org/licenses/by/4.0/">CC BY</a>
For years, even decades, politicians have surrendered responsibility for addressing the rising pressures on city life. Yet they have a vital role to play. Most importantly, the state government can make it easier to build new homes in all parts of Sydney, especially established areas that have good access to jobs.
Making it much easier to build new homes would help improve access to jobs, and give people more meaningful choices about where they live and the kind of home they live in. Less convoluted planning and zoning rules and decision-making processes are essential.
But it’s also vital to have transparent standards for appropriate development, so that residents and communities know what is planned for their community and can have their say about it.
Politicians need to ensure their commitments have effective implementation mechanisms and are followed through.
Over the years, state governments from both sides of the political divide have made and broken too many promises to tackle housing affordability.
Similarly, Sydneysiders have lost count of how many promises to tackle traffic congestion, improve access to public transport or build new transport infrastructure have then not been delivered. Failing to deliver on commitments is a guaranteed way to let Sydney’s problems get worse.
Thinking beyond our own backyards
One reason that promises have fallen by the wayside is because delivering them has required trade-offs between different members of the community. Such trade-offs are inevitable anywhere there is a finite amount of land, and finite amounts of money to spend on transport.
One such trade-off is between local residents of inner and middle suburbs close to employment centres, who may prefer fewer new homes being added in their area, versus residents further out who face longer commutes, along with more traffic on the roads that everyone uses.
Trade-offs are required because the city can’t simply build its way out of this problem. Improving public transport and roads can make a big difference to many people’s lives. But there are limits to what the transport system can do, and new roads and train lines are very expensive.
There’s no perfect way to balance the kinds of difficult trade-offs involved in improving Sydney’s complex traffic, housing and other urban planning challenges.
But it is possible to do better. As overseas experience in cities such as Seattle, Vancouver and Portland shows, genuinely involving residents in making the trade-offs facing cities is essential to making improvements endure, and see <a href="https://grattan.edu.au/wp-content/uploads/2014/04/052_cities_who_decides.pdf">promises get delivered</a>.
State and local governments have a critical role in involving all residents in shaping their city’s future. So it’s incumbent on whoever wins this state election to involve the community more in making the hard decisions that are inevitable in tackling the challenges Sydney faces.
But Sydney’s problems are not just for politicians to solve.
Often people know that the status quo isn’t working, but resist the kinds of change in their local area that could turn things around. Sometimes that’s because residents feel it is being imposed on them, without having a say, and the only response is to resist, or pretend it can be avoided.
Yet resisting all change, such as opposing new apartment blocks in well-established suburbs blocks (regardless of their quality), risks backfiring on residents in the long-term. People are now seeing their own children and grandchildren forced to live far from where they grow up – and in a city as congested as Sydney, that means seeing family less often.
* City Limits: why Australia’s cities are broken and how we can fix them is <a href="https://www.propertyobserver.com.au/https://www.mup.com.au/items/154135" target="_blank">published today</a> by Melbourne University Press. <a href="https://grattan.edu.au/events/city-limits-book-launch-melbourne-and-sydney-events/" target="_blank">Register here</a> to attend a free launch event in Sydney on Thursday March 5.
Paul Donegan is a fellow at Grattan Institute.
Jane-Frances Kelly is program director, cities at Grattan Institute.
This article was originally published on <a href="https://theconversation.com">The Conversation</a>.
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po-LsXgBTHBmX

Sydney’s stuck in traffic, putting the brakes on women and the west

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Cabramatta secured the weekend's cheapest auction result when $325,000 was paid for a two bedroom unit.
<a href="https://www.realestateview.com.au/Real-Estate/1-11-gilbert-street-cabramatta/Property-Details-buy-residential-8285788" target="_blank">The Ray White marketing</a> advised its annual rent return was $17,680 at $340 a week, reflecting a 5.4% yield.
The sale was secured pre-auction.
Located just a minutes walk from the Cabramatta CBD, the first floor, freshly painted, street facing unit came with an updated kitchen and two balconies.
The 1976 apartment had a lock up garage.
It last sold in 2007 at $175,000, reflecting 8.3% annual price growth, and at $185,000 in near-boomtime 2003.
The Ray White Green Valley selling agent was Scott Whittle. 
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