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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Economist Paul Bloxham is worried about the Sydney property market.
Speaking at the Australian Mortgage Innovation Summit, HSBC’s chief economist, Paul Bloxham, said the only housing market that the RBA and APRA needed to be cautious of was Sydney.  "In Sydney, this is going to be quite a challenge.
"The rest of the market doesn’t look over inflated. 
"I don’t think there is a housing bubble in Australia. 
"I think that if Sydney sees the same trends as we have seen over the last year or two, that is house prices is running at an annual inflation rate of 13% year on year, then if that continues for very much longer than you will need to see prices at some point will come down.”
The summit was hosted by Asia-Pacific Banking &amp; Finance, and reported on by <a href="https://www.brokernews.com.au/news/breaking-news/economist-doubts-macroprudential-tools-will-cool-off-housing-197298.aspx" target="_blank">Australian Broker Online</a>.
Bloxham said the Reserve Bank should follow New Zealand's macro-prudential policies, in the form of LVR caps. “Those tools were effective for a very short period of time, but then the RBNZ followed up with lifting interest rates,” he said.  “We had the RBNZ lift interest rates by 100bps last year between March and July. It was really probably that lift in interest rates that was the main thing that kept the housing market contained in the end.”
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jchancellor-FAypfDUnLy

No Australian housing bubble, but watch Sydney: HSBC's Paul Bloxham

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The Australian Prudential Regulation Authority (APRA) released data earlier on residential property exposures by Australian Authorised Deposit-taking Institutions (ADIs). The data was published up to the end of December 2014. The information provides additional insight into the nature of mortgage lending by Australian banks, building societies and credit unions.
<img class="aligncenter size-full wp-image-4309" src="https://blog.corelogic.com.au/wp-content/uploads/2015/02/Chart-11.jpg" alt="Chart 1" width="500" height="178">
According to APRA’s data, at the end of 2014, there were $1.278 trillion in residential term loans with $839.8 billion in owner occupied loans (65.7%) and $438.9 billion in investor loans (34.3%). Over the 12 months to December 2014, the value of residential term loans to owner occupiers increased by 7.4% compared to a 12.2% rise in loans to investors. Note that in December, APRA raised concerns about annual growth in investor loan books above 10%. Based on this data, many ADIs would be growing that segment of their book above that benchmark.
<img class="aligncenter size-full wp-image-4310" src="https://blog.corelogic.com.au/wp-content/uploads/2015/02/Chart-21.jpg" alt="Chart 2" width="500" height="180">
Focusing on the characteristics of these loans shows a growing appetite for loans with an offset facility and interest-only loans. Meanwhile, the prominence of low documentation loans and other non-standard loans is reducing. 
Based on the value of lending, loans with an offset facility increased by 18.4% year-on-year to December 2014, interest-only loans were 15.1% higher, reverse mortgages had increased 1.9% while low documentation loans and other non-standard loans had reduced by -18.6% and -20.2% respectively. 
At the end of 2014, a record high 37.5% of outstanding loans had an offset facility and a record high 36.9% were interest-only. Just 0.2% of loans were reverse mortgages, a record low 2.5% were low documentation and just 0.1% were other non-standard loans.
<img class="aligncenter size-full wp-image-4312" src="https://blog.corelogic.com.au/wp-content/uploads/2015/02/Chart-31.jpg" alt="Chart 3" width="500" height="183">
At the end of December 2014, the Australian Bureau of Statistics (ABS) estimated that there were 9,448,300 households, while APRA reported that there were 5,213,000 mortgages to Australian ADIs. This indicates that 55.2% of Australia’s housing stock was mortgaged to Australian ADIs. The 55.2% figure is the highest on record, noting that records have only been calculated from the September quarter of 2011. 
The ABS also reports the value of residential housing stock at $5.4 trillion and given the $1.258 trillion in outstanding mortgages to Australian ADIs, 23.3% of the value of all housing stock is mortgaged.
<img class="aligncenter size-full wp-image-4313" src="https://blog.corelogic.com.au/wp-content/uploads/2015/02/Chart-41.jpg" alt="Chart 4" width="500" height="179">
The average value of the outstanding mortgages, according to APRA’s data, was $241,400 at the end of 2014, with the average loan size having increased by 3.4% over the past year.  Loans with offset facilities ($285,900) and interest-only mortgages ($311,300) had much higher average loan sizes which have increased by 2.1% and 2.8% over the past year. 
Reverse mortgages had an average size of $93,100, having increased by 3.8% over the year. Low documentation loans had an average outstanding amount of $204,800 and other non-standard loans had an average of $211,900, outstanding loan sizes have fallen over the year -2.9% and -7.1% respectively.
<img class="aligncenter size-full wp-image-4314" src="https://blog.corelogic.com.au/wp-content/uploads/2015/02/Chart-51.jpg" alt="Chart 5" width="500" height="179">
Over the December 2014 quarter, there were 93,231 new loans written by Australian ADIs. 
Of these loans, 23,183 (24.9%) had a loan-to-value ratio (LVR) of less than 60%, 38,964 (41.8%) had an LVR of between 60% and 80%, 20,464 (21.9%) had an LVR of 80% to 90% and the remaining 10,620 (11.4%) had an LVR of more than 90%. 
Year-on-year, the number of loans with an LVR of more than 90% have fallen by 6.9%.  Over the same period, loans with an LVR of less than 60% have increased by 10.8%, loans with an LVR of 60% to 80% have increased by 13.1% and loans with an LVR between 80% and 90% have increased by 17.7%.
Given APRA had concerns of the rate of growth in the investment segment of the market, this latest data is likely cause APRA some discomfort.
Not only is this data showing the investment segment growing at a rate much higher than 10% annually, but also interest-only lending which tends to be reflective of investment lending is also increasing substantially. 
On a more positive note, although investment lending is increasing it is encouraging to see the drop in higher LVR lending above 90%, which suggests that ADIs are being somewhat more cautious around higher risk lending especially considering the overall number of loans being written has continued to grow.
We can expect the regulator will be monitoring lending standards with more focus after the release of this data, particularly from the perspective of investment lending and interest only mortages.
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ckusher-ujnxiKuFQs

Increasing investor interest-only borrowing likely causing APRA discomfort: Kusher

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An Ashfield, Sydney boarding house fetched $2,555,000 at auction, reflecting a 5.75% rental yield.
It sold through <a href="https://www.domain.com.au/real-estate-agent/Con-LaSpina-1082844">Con La Spina</a> at Elders Inner West-Ashfield.
It is currently a 10 room boarding house returning $146,000 per annum.
There are approvals to extend it to 19 rooms.
"And potentially more than double the return," Con La Spina said.
The Victorian era home sits on a 727 square metre block with train station and bus services nearby.  
"This grand Victorian money spinner offered high income, low vacancy and plenty of potential," the marketing said.
The 30 Chandos Street offering sold at $1.7 million in 2011.
It sold this time to an investor whose family owns another boarding house in the area.
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Ashfield boarding house sells for $2,555,000 at auction

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Pepper Home Loans has announced rate reductions across its non-conforming loan products.
 Brokers will now be able to access non-conforming home loans offering unlimited debt consolidation, unlimited credit impairment, and the ability to payout ATO debts with rates from 5.75% per annum for full documentation and 6.19% per annum for alternative documentation. 
Mario Rehayem, Pepper’s director of sales and distribution, said the pricing was competitive.
The lender was named Australia’s 2015 ‘Best Specialist Lender’ for a third consecutive year at last the 2015 Australian Lending Awards. 
Pepper also took out the 2015 Best Self-Employed Lender award.
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Pepper Home Loans reduces rates for non-conforming borrowers

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GUEST OBSERVATION 
If the media is to be believed, the reason the real estate market is so hot is due to foreigners, especially Chinese, turning up with blank cheques buying everything in sight.
Apparently Australians are no longer able to get a foothold in the housing market because the playing field is not level. How much of this is true and how much of this is sensationalism and headline grabbing? Let’s explore the facts as they currently stand.
WHO CAN BUY WHAT?
<table style="width: 460px;" border="1" cellspacing="0" cellpadding="0"><tbody>
<tr>
<td>
Australian citizens and permanent residents
</td>
<td>
Can buy any property, new or second hand.
There are no limitations of any kind.
</td>
</tr>
<tr>
<td>
Temporary resident
</td>
<td>
A temporary resident (such as those on student visas of more than 12 months or those who have applied for permanent residency and are on a bridging visa) may acquire one established dwelling only and it must be used as their residence (home) in Australia.
There is a condition which stipulates that the temporary resident must sell the property when it ceases to be their residence.
Temporary residents are not permitted to buy established dwellings as investment properties.
Temporary residents may buy new dwellings, or vacant land to build new dwellings, because these latter purchases increase the available housing stock in Australia.
Temporary residents need to apply to the Foreign Investment Review Board (FIRB) to buy in Australia.
</td>
</tr>
<tr>
<td>
Foreigners / short-term visa holders
</td>
<td>
Only allowed to purchase brand new, off the plan properties, or vacant land for immediate development. 
Foreign residents cannot buy established or second-hand dwellings as investment properties or to live in. 
Foreign residents need to apply to the FIRB to buy in Australia. Such proposals are normally approved without conditions.
</td>
</tr>
</tbody></table>
ARE CHINESE BUYERS REALLY DOMINATING?
There is no doubt that many people of Asian heritage are seen each week at open inspections and auctions everywhere in Sydney. It is easy to jump to the assumption that anyone looking remotely East Asian must be a ‘rich Chinese’.
The reality is that Asian buyers are easy to spot because they look different in a crowd of Caucasians. Nobody really spots the Kiwi or the Brit – but Asians do stand out in physical appearance. However, it is often the case that people of Asian appearance may be second, third or even fourth generation Australians. 
Even if they are newly arrived immigrants who do not speak English, they are as entitled as any other Australian citizens or long-terms resident to buy a property. In addition, many people have difficulty identifying the different Asian backgrounds and lump Koreans, Japanese, Singaporeans, Malaysians, Vietnamese, Thai, Indonesians, etc. all as ‘Chinese’.
Having said this, there has definitely been a significant increase of buyers from mainland China. Many factors have contributed to this rise: cheap Australian dollar, increasing middle class, fear of future instability in China and therefore the need to invest the money offshore, seeking a safe haven for the family by having children educated in Australia, etc. For many mainland Chinese buyers, buying a property is much more than just about having a roof over their head. It is about an insurance policy – and something they are willing to pay a premium for.
SO WHAT IS THE PROBLEM?
The main issue is the lack of tracking system to ensure the rules as outlined above are being adhered to. There have been many claims of foreigners breaching the rules of investment. However, last year's parliamentary inquiry heard that the FIRB had not prosecuted a single case since 2006, rendering it essentially ineffective.
WHAT DOES THE GOVERNMENT PROPOSE TO DO?
Yesterday, <a href="/expert-insights/investing/10-000-firb-fee-to-buy-1-million-plus-home-tony-abbott-policy-unveiled">the Treasury released a proposal </a>on “Strengthening Australia’s Foreign Investment Framework”. It is a discussion paper which is open for public comments until the 20 March 2015.
This discussion paper forms the basis of the government’s consultation on reforms to the foreign investment framework. The proposed reforms include:
<ul>
<li>increasing compliance and enforcement activities around foreign investment in residential real estate through the creation of a specialised investigative and enforcement area within the Australian Taxation Office; and</li>
<li>introducing new civil penalties and increased criminal penalties for foreign investors and third parties who breach the foreign investment rules.</li>
</ul>
The government is looking at setting up a new register of foreign investors in both residential and agricultural real estate, with fines of up to 25% of the value of the property for any breaches.
Consideration is also being given to the introduction of an application fee on all foreign investment proposals – this is expected to raise $200 million a year. This is not to act as a deterrent to foreign investment, but to fund the costs of better data collection, screening, compliance and enforcement activities. A more sophisticated data matching systems drawing information from various government agencies such as the Treasury, Tax Office and Immigration is desperately needed and needs to be funded.
For residential real estate and rural land acquisitions, the proposal is for a fee of up to $5,000 that would apply to properties valued under $1 million. Applications to purchase a property equal to or greater than $1 million would be subject to a fee of up to $10,000. This would then increase in increments of up to $10,000 for each additional $1 million in property value. (e.g. For a property up to $2 million, the fee payable would be $20,000. For a property up to $3 million, the fee payable would be $30,000, etc.)
The proposed fees are much higher than the $1,500 recommended by last year's parliamentary inquiry into foreign investment.
IS THIS GOING TO WORK?
Foreigners who have the discretionary funds to purchase a property in Australia will probably not even blink at needing to pay this extra fee. So this is certainly a good fundraising opportunity for the government. For the majority of our foreign buyers, they are purchasing in cash. So a fee of $5,000 or even $30,000 for that matter is really small change for them. We anticipate this will have near zero deterrent effect – but then again, the government has stated that this is not intended to be a deterrent but a fundraising activity.
However, in addition to better enforcement of the current FIRB restrictions, there needs to be a more rigorous review of the current stamp duty structure. A very good model to learn from is the tiered stamp duty that Singapore recently phased in. To kerb overwhelming foreign interest in Singaporean residential properties which skyrocketed prices, the government introduced differing levels of stamp duty payable by citizens, permanent residents and foreigners. What is particularly interesting about the Singapore model is that they also charge additional stamp duty for those who own more than one to two residential properties. There is also special stamp duty on properties sold within three years: 10 to 20% of purchase price, depending on when sold. This was intended to prevent speculative buying.
So while the proposed enforcement reforms are certainly much needed, the separate question which needs to be asked is whether the current rules and tax structure are effective enough to begin with?
<a href="https://www.propertyobserver.com.au/https://plus.google.com/110172465327488162875?rel=author" target="_blank">Shane Oliver</a> is head of investment strategy and economics and chief economist at <a href="https://www.ampcapital.com.au/home" target="_blank">AMP Capital</a> and is responsible for AMP Capital's diversified investment funds. 
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soliver-smf6LQXgW9

New fees are small change for FIRB buyers: Shane Oliver

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In the wake of yesterday's federal government announcement, industry figures are jumping in to give their thoughts on the proposed new laws.
Veronica Morgan of the Real Estate Buyers’ Association of Australia said her organisation supported better enforcement and widening of penalties for foreigners who failed to comply with local laws.
“It’s a hot market for loads of reasons but you can’t blame the Chinese,” Morgan told The New Daily.
There were concerns about foreign developers buying Australian land, building apartment blocks and then marketing those properties to overseas buyers with little oversight by local authorities, she acknowledged.
But she said it would be foolish to conclude the Chinese buyers were responsible for soaring pricess across the residential property market.
“It’s a hot market for loads of reasons but you can’t blame the Chinese,” Morgan said.
“It does appear that this debate appeals to some latent racism that exists in Australia.
“At the bottom of it all is fear and the reporting of it in the media needs to improve.”
The buyer's agent and managing director of Propertyology Simon Pressley said a tax of sorts on foreign property buyers had long been on the cards.
"There is absolutely no doubt that increased foreign buyer activity in Sydney and Melbourne have contributed to price growth", said Simon Pressley. "Developers already fork out rebates in the order of $40,000 for third parties to spruik properties worth $500,000.
"Absorbing a $5,000 fee to a foreign buyer on an $800,000 apartment or a $10,000 fee on a property worth $1 million plus isn't a drop in the ocean to them." "The principle of the fee proposal is sound and has likely come about with some influence from the RBA.
"But if legislators are seriously trying to cool Sydney's market they'd need to add another zero to the fee," Pressley said.
Ray White Real Estate chairman Brian White told Fairfax Media the proposed fees had the potential to "shock the market".
"And no market appreciates or responds well to shocks. It has connotations back to the aborted vendors tax proposed by the NSW Treasurer Michael Egan that needed to be abandoned due to market response," he recalled.
CBRE residential projects chairman Justin Brown told Fairfax Media the new taxes were counterproductive and ill-thought through.
"There is significant global evidence from recent times including Canada, Singapore and Hong Kong where these types of taxes on foreign investment have been totally counterproductive, caused significant corrections within the markets and harmed the construction industry," Brown said.
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Don't blame the Chinese for soaring house prices: Buyer's agent Veronica Morgan

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Glen Waverley pipped Mount Waverley to top the 10 most searched Australian suburbs for Chinese buyers in 2014.
The latest data came from property portal myfun.com built and designed by REA Group to showcase Australian property to Chinese buyers.
The neighbouring eastern Melbourne suburbs of Glen Waverley and Mount Waverley sit at the top of the list for most clicked neighbourhoods in Australia.
There's often a distinct price footprint left that identifies the buyer ancestry, the use of the lucky number 8 in the price.
Earlier this month a house on <a href="https://www.realestateview.com.au/Real-Estate/5-st-albans-street-mount-waverley/Property-Details-buy-residential-8299104" target="_blank">St Albans Street, Mount Waverley</a> (pictured above) sold by private treaty through Jellis Craig at $1,502,888.
It was sold by vendors of Chinese descent who had bought in 1999 for $286,000, indicating the heightened presence of the Chinese in the suburb actually has long standing origins.
Indeed the house's previous sale in 1988 was similarly to buyers of Chinese descent.
<ol>
<li>
<a href="/news">Glen Waverley</a>, VIC 
</li>
<li>
<a href="/news">Mount Waverley</a>, VIC 
</li>
<li>
<a href="/news">Doncaster</a>, VIC 
</li>
<li>
<a href="/news">Balwyn</a>, VIC 
</li>
<li>
<a href="/news">Southport</a>, QLD 
</li>
<li>
<a href="/news">Box Hill</a>, VIC 
</li>
<li>
<a href="/news">Carindale</a>, QLD 
</li>
<li>
<a href="/news">Toowong</a>, QLD 
</li>
<li>
<a href="/news">South Yarra</a>, VIC 
</li>
<li>
<a href="/news">Chatswood</a>, NSW</li>
</ol>
Source: myfun.com.
The local agents say among the attractions are two of Victoria’s best state schools, Glen Waverley Secondary College and Mount Waverley Secondary College, along with two of Melbourne’s best private schools, Wesley College and Caulfield Grammar helps.
“It’s also halfway between the city and the hills, but retains a cosmopolitan atmosphere with over 100 cafes and restaurants in the area,” one agent told News Ltd.
Just the two recent auction sales at Glen Waverley, according to the REIV.
<table style="width: 460px;"><tbody>
<tr>
<td>5  Sagan  Court</td>
<td>$2,020,000 </td>
<td>Ray White Glen Waverley </td>
</tr>
<tr>
<td>17  Lindwall  Street</td>
<td>$1,200,000 </td>
<td>Stockdale &amp; Leggo Waverley</td>
</tr>
</tbody></table>
Source: REIV.
There were four auction sales at Mount Waverley.
<table style="width: 460px;"><tbody>
<tr>
<td>64  Alice  Street </td>
<td>$1,950,000 </td>
<td>Jellis Craig </td>
</tr>
<tr>
<td>3/ 8  Edna  Street</td>
<td>$758,000 </td>
<td>Jellis Craig </td>
</tr>
<tr>
<td>1/ 3  Morrison  Court<a href="https://www.realestateview.com.au/Real-Estate/1-3-morrison-court-mount-waverley/Property-Details-sold-residential-8266672"> </a>
</td>
<td>$792,000 </td>
<td>hockingstuart </td>
</tr>
<tr>
<td>2  Vila  Court</td>
<td>$1,310,000 </td>
<td>Noel Jones</td>
</tr>
</tbody></table>
Source: REIV.
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Chinese buyers' property love affair with the Waverley's - Glen and Mount

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The increasing concentration of homes in the inner-suburbs of our capital cities is presenting a range of big challenges, and opportunities, for architects.
The influx of apartment development, particularly in Melbourne, has some concerned about apartment oversupply. <a href="/news/vic/exclusive-does-melbourne-have-an-oversupply-problem">Economists and property pundits</a> are worried about rental yields diving and the degrading value of real estate. Architects are worried about falling design standards and <a href="/expert-insights/buying/no-more-shoebox-apartments-37-square-metre-minimum-size-under-victorian-government-consideration">increasingly cramped low quality apartments</a>. Much of the public is worried about increasing pressure on local infrastructure and whether there will be anything to do in the city apart from look at big, shiny, apartment-filled skyscrapers.
Some, like former <a href="/news/vic/10-quotes-from-planning-minister-matthew-guy-on-changes-in-victoria">Victorian Planning Minister Matthew Guy</a>, who approved many of the high rise towers under currently under construction in the Melbourne CBD. say that the recent apartment boom is tackling the housing undersupply. But whether the stock coming onto the market is appropriate for those who need it is unclear.
Indeed, Prosper Australia estimates that <a href="/news/vic/over-64-000-melbourne-properties-sit-vacant-prosper-australia">17% of properties in the Docklands</a> are functionally vacant.
So is there a way to improve housing affordability through increased supply, without creating (wind tunnel-ridden) inner-city ghost towns?
Hayball director Sarah Buckeridge says part of the solution is to diffuse new housing stock, rather than concentrating development in the inner city.
Buckeridge notes that Melbourne's population growth has putting "a lot of pressure" on the need to provide housing options at an affordable level.
"So I think that it's important to keep providing options not just at a central city location, or suburban locations," says Buckeridge, but to consider the "middle zone": areas that are well served by transport and infrastructure, but not in the immediate inner city.
"High density isn't just happening in the inner city in those tower forms," she says.
"A lot of activity is happening in middle ring suburbs, which is very interesting.
"We've had a lot of <a href="https://www.hayball.com.au/projects/john-street-apartments/" target="_blank">work in the Whitehorse area</a>, in Box Hill and the other suburbs there.
"And I think that's a really positive development for those areas. It's bringing renewal for underutilized housing stock."
<img src="/images/2015/02/26/hayball-feb-26-four.jpg" alt="">
Above: John Street Apartments. Photo: Rhiannon Slatter. Source: Supplied.
As for the inner city, despite <a href="/expert-insights/buying/are-studio-apartments-a-good-pick-for-first-home-buyers">dwindling square footage in CBD studios</a> and concerns over the quality Melbourne's "affordable" developments, Buckeridge says good design doesn't have to be sacrificed for affordability – in fact, architects have an important role in delivering affordable projects.
"It's not a matter of losing out, but obviously you need to be inventive about how you use building technology and materials," she explains.
"It's not about doing a compromised amenity for those apartments at all. I think there's actually a good opportunity to build in a diversity of different price points, even within single developments.
"What we're finding more and more in the inner city locations, there's going to be a market at the affordable end, perhaps at one bed units, through to bigger units attracting a premium price point."
Beyond diversifying the available stock in particular developments or areas, to avoid a concentration of one particular type of resident or an oversupply of one particular type of home, Buckeridge says engaging with a development's location is vital.
"We're advocates of always looking at the site and thinking about what suits those particular locations," says Buckeridge, citing <a href="https://www.hayball.com.au/projects/my80-2/" target="_blank">MY80</a>, a 55 level, 487 residence tower in the Melbourne CBD.
"That's a case where on quite a small site, a high tower form can still provide a good streetscape outcome, and good amenity. It really capitalises on its impact," says Buckeridge.
<img src="/images/2015/02/26/hayball-feb-26-three.jpg" alt="">
Above: MY80 exterior. Photo: Peter Clarke. Source: Supplied.
<img src="/images/2015/02/26/hayball-feb-26-two.jpg" alt="">
Above: MY80 interior. Photo: Shannon McGrath. Source: Supplied.
The project has a variety of communal spaces to draw residents out of their individual apartments and to foster a "vertical neighbourhood", including a dining area, a swimming pool, a cinema, a business area and a rooftop bar.
According to Buckeridge, as architects Hayball attempts to encourage communities in high-density environments by providing opportunities for residents to interact.
<a href="https://www.hayball.com.au/projects/bravo-apartments/" target="_blank">Bravo, in Carlton</a>, is <a href="/expert-insights/buying/carlton-parkside-project-bravo-sells-24-apartments-in-first-three-weeks">another Hayball project</a> which has seen the architects use social spaces, including a roof deck, to create what Buckeridge calls "communities at the building scale".
<img src="/images/2015/02/26/hayball-feb-26-five.jpg" alt="">
Above: Bravo. Photo: Henry Lam. Source: Supplied.
On the street level, architects and developers can work together to create socially active sites as well. Mixed-use tenancies – recreation centres, restaurants or shops – on the street level can engage both residents and passers-by. When street-level engagement is done right, it can stop residents from flooding out of their local areas in search of better food, entertainment or social spaces – leaving apartment-dense districts "soulless", as <a href="/news/vic/docklands-finding-its-feet-after-a-difficult-conception">some have described</a> Melbourne's Docklands.
"Melbourne's CBD is rightly renowned as having a really strong urban realm environment", says Buckeridge. As the density of housing increases, it will be architects who ensure that this remains the case.
Feature photo: MY80 interior. Photo: Shannon McGrath. Source: Supplied.
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How to do high density - keep it affordable and diverse: Hayball's Sarah Buckeridge

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The profile of private rental tenants in Australia has changed dramatically over the past 30 years, with an increasing number of families with children and older people renting for the long-term, an academic study has found.
The research by the Australian Housing and Urban Research Institute (AHURI) at Swinburne University of Technology is being used to inform government policy, but private landlords may find it useful when deciding what type of property to buy or how to renovate.
The absolute number of households in the private rental market doubled to 1.8 million over the past 30 years with the biggest growth in Queensland and the ACT, according to a bulletin based on the research released in February.
Families with children represented more than 40% of renting households in 2011, a much higher proportion than in earlier decades, the bulletin noted.
The number of group households has also risen, with more than one in 10 private properties being rented by unrelated housemates in 2011, up from just over one in 25 in 1981.
Traditionally, single tenants and young families made up the largest proportion of renters. But rentals to lone person households fell to one quarter in 2011 from just over 40% in 1981.
Renting households are also getting older. More than half of renters were over 35 years of age in 2011 compared with around 40% in 1981, the bulletin reported.
“While the age profile of households in private rental housing remains young relative to all households, the median age of household heads is growing more rapidly than for households in general. This is likely to lead to the private rental sector being home to larger proportions of elderly households in the future,” the bulletin noted.
For investors, the findings suggest properties that would suit families with children, or appeal to older people will be the ones most in demand, perhaps increasingly so in future.
But be careful not to limit the range of potential tenants that a rental property will appeal to.
A location near to shops, schools and transport, as well as cafes and restaurants will be attractive to a broad range of tenants.
Features such as a second bathroom, parking or a lock-up garage, an internal laundry and a good-quality, functional kitchen will also have wide appeal.
Apartments v houses
High density housing and apartments are popular investment choice for many landlords as they tend to be cost less and offer higher yield, and maintenance is often managed by a strata company, which makes them less work for owners.
However, the AHURI research shows the proportion of private renters in apartments and high density dwellings fell to 44.8% in 2011 from 48.9% in 1981. That is in spite of a 400% increase in the number of private rentals that were apartments and a 79% increase in rental properties that were in high density housing.
By number, 80% of all growth in private rental housing has been in detached and semi-detached properties mostly in the suburbs, the research bulletin noted.
The advantages for investors in buying a house rather than a unit are that the additional land offers an opportunity for capital growth, while there’s a better chance of attracting some tenant types, such as families to rent a freestanding home with extra space for children.
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Average tenant becoming more likely to be older and have families

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The Prime Minister’s clampdown on foreign investors in Australian real estate has been revealed as little more than a revenue raising exercise.
After all the posturing, this is what it comes down to: a cash grab. Politicians doing to real estate what they always do to real estate: using it as a cash cow.
Overseas buyers will be charged hefty fees for the privilege of buying Australian real estate and Australian developers will be charged the same hefty fees for the right to sell to them.
Otherwise nothing will change in the national property landscape. Not a single sale price will be reduced or not one first home buyer will be better off.
As well as a cash grab, the Tony Abbott move on foreign investment is also a push for popularity by appearing to be doing something for the ordinary bloke. But the thinking is so fuzzy and the policy delivery so confused that it won’t achieve even that shallow objective.
I listened to Abbott announcing and justifying the proposed policy and it was clear he had not sorted out his thinking. The arguments simply didn’t stack up.
He was still trying to infer that somehow this will help battlers achieve the 'Great Australian Dream' but couldn’t explain how this policy will achieve that.
He maintained that foreign investment was important to Australia and that foreign buying increased supply and therefore made dwellings more affordable for the ordinary bloke, but couldn’t explain how these new punitive measures would help to achieve that, when they appear set up to discourage and curtail foreign investment.
It’s all rather bizarre.
There are measures to clampdown on developers who focus their marketing overseas without trying to sell their high-rise apartments locally. But foreign investors are the sole reason most of these highrise buildings are being planned. This is particularly true in over-supplied markets like inner city Melbourne and downtown Brisbane.
They’re not designed for local consumption. Without most, if not all, of the units being sold offshore, these projects will not be built.
That will reduce supply, which theoretically places upward pressure on prices. And it will reduce construction activity, which is deemed the economic savior of the nation at a time when resources investment is declining.
The bottom line is that restraining foreign investment won’t make Australian dwellings more affordable. It will do nothing to change the situation for first time buyers.
Foreign investors are a very small component of the Australian buying market. Their activity is primarily focused on Top End properties in the prestige suburbs of Sydney and Melbourne, and on highrise apartments in the inner city areas of our major cities.
They are not competing with local first time buyers. Restricting foreign buyers won’t change the price on a single house anywhere in Australia. It won’t stop people of Asian appearance (dubbed foreign buyers by disgruntled under-bidders) from winning bidding wars at Sydney and Melbourne auctions of prestige property.
It’s a Yes Minister scenario, designed by Sir Humphrey Appleby and delivered by a befuddled Jim Hacker, who somehow got the pages of the script mixed up - again.
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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