Article summary

<ul data-end="785" data-start="311">
	<li data-end="459" data-section-id="5hbcyr" data-start="311">Pikos Group has released the five-penthouse collection at Skye Kangaroo Point, headlined by a two-storey sky home spanning more than 1,000 sqm.</li>
	<li data-end="561" data-section-id="1p7lq8n" data-start="460">Early buyer interest suggests the residences could set a new Queensland apartment price record.</li>
	<li data-end="667" data-section-id="1y70z0l" data-start="562">The collection includes four move-in ready penthouses and the highly customised Skye One residence.</li>
	<li data-end="785" data-section-id="yvm0y1" data-start="668">The release caps one of Bri​sbane's most ambitious luxury apartment developments overlooking the Brisbane River.</li>
</ul>

<hr data-end="790" data-start="787" />
Pikos Group has released the five-penthouse collection at its <a href="https://www.apartments.com.au/buildings/skye-residences-by-pikos-kangaroo-point-8-river-terrace-kangaroo-point-qld-4169">Skye by Pikos</a> development in Kangaroo Point, with early buyer interest indicating the flagship residences could eclipse every apartment sale previously recorded in Queensland.

The collection crowns the luxury riverfront development with five residences, including four completed penthouses and Skye One, a two-level sky home spanning more than 1,000 sqm that will be tailored to its eventual owner.

[smartcode_project:default project_id=90059 project_image_fid=374075]

Wanting to offer a fully customisable home, Pikos is offering Skye One as a blank canvas, allowing the buyer to work alongside the developer's design team to customise the home's layout, finishes and internal spaces.

The residence will feature a 247 sqm private rooftop terrace with its own swimming pool, sauna, steam room, outdoor kitchen and multiple entertaining areas overlooking the Brisbane River and CBD skyline.

The remaining four penthouses have been completed and are ready for immediate occupation, each offering four bedrooms, expansive open-plan living areas, soaring ceilings and private lift access.

[smartcode_project:default project_id=90059 project_image_fid=374059]

One of the defining features throughout the project is its use of Roman Classic Travertine, with more than 20,000 sqm of the natural stone imported from Italy after being personally selected by Pikos Group Founder and Executive Director Pedro Pikos, interior designer Julie Williamson and third-generation stone specialist Mario Caucci.

Pikos said the penthouse collection represented the culmination of the company's long-term vision for Skye.

"True legacy isn't measured by what we build today, but by what endures tomorrow," Pikos said.

"Our ambition is to create places that become more valuable with time, enrich the lives of generations, and stand as timeless landmarks long after we've stepped away."

[smartcode_project:default project_id=90059 project_image_fid=374060]

Williamson said the interiors were inspired by the natural character of Kangaroo Point and the Brisbane River rather than international design trends.

"Materiality tells the story of a place," Williamson said.

"We looked to the movement of the Brisbane River, the texture of the cliff face and the warmth of the surrounding landscape to create interiors that feel understated, enduring and unmistakably Brisbane."

Positioned above the Kangaroo Point cliffs, Skye places residents within walking distance of Howard Smith Wharves, South Bank and James Street while offering uninterrupted river and city views.

[smartcode_project_cta:default project_id=90059]

Joel Robinson

Brisbane's next apartment price record? Pikos unveils Skye's exclusive penthouse collection

Article summary

<ul data-end="888" data-start="289">
	<li data-end="442" data-section-id="8tsh6o" data-start="289">DVB Projects is preparing to launch its second Gold Coast apartment development, with demolition now underway at 137 Old Burleigh Road, Broadbeach.</li>
	<li data-end="573" data-section-id="1nyxl3e" data-start="443">The 34-level tower will comprise just 49 ultra-luxury residences, including half-floor, full-floor and penthouse apartments.</li>
	<li data-end="717" data-section-id="oiyimj" data-start="574">The launch follows strong demand at DVB's nearby Sea Glass project, which is more than 50 per cent sold and currently under construction.</li>
	<li data-end="888" data-section-id="epk9o9" data-start="718">The development adds to the transformation of Old Burleigh Road, with premium beachfront apartment projects continuing to reshape the tightly held Broadbeach strip.</li>
</ul>

<a href="https://www.apartments.com.au/developers/dvb-projects">DVB Projects</a> is preparing to launch its second Gold Coast apartment development, with demolition now underway on the Broadbeach site as the Sydney developer moves closer to bringing the ultra-luxury project to market.

The 34-level tower at <a href="https://www.apartments.com.au/new-apartments/137-old-burleigh-road-broadbeach-qld-4218">137 Old Burleigh Road</a> will comprise just 49 residences, ranging from half-floor apartments through to full-floor homes and a penthouse. The launch follows the strong sales performance of DVB's nearby Sea Glass development. More than half of the apartments at Sea Glass, on the other side of Broadbeach, have been snapped up, well ahead of its late 2027 completion

<img alt="DVB Projects to commence demolition on $320m Broadbeach luxury tower" data-entity-type="file" data-entity-uuid="2944b4be-c84e-4b54-8dc1-c712e76704c0" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/E02_Exterior_Street%20Level%20Entrance.jpg?VersionId=YoNig7pRdrE3HCue7sUj78LzJteeQf3H" />

The start of demolition at 137 Old Burleigh Road signals DVB Projects’ underlying confidence in the Gold Coast’s luxury beachside apartment sector.

“We see the Gold Coast as one of the most compelling lifestyle markets in Australia, particularly at the premium end where demand continues to deepen,” said Dean Brown, Managing Director of DVB.&nbsp;

“This project has been carefully designed to respond to that demand - delivering large-format residences with a level of quality, privacy and amenity that is still relatively rare in the apartment market on the beachside."

Brown says the site itself is "exceptional."

"Old Burleigh Road is one of the most tightly held beachfront strips, and opportunities to deliver a project of this scale and calibre in this location are extremely limited.”

<img alt="DVB Projects to commence demolition on $320m Broadbeach luxury tower" data-entity-type="file" data-entity-uuid="398f377a-c037-455e-9250-0c5e0d84c35b" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/I12_FF%20Balcony.jpg?VersionId=NwOiRWGMubR1c8wthuEfggklcja7al9." />

The project will comprise 40 half-floor residences of approximately 260 sqm, alongside eight full-floor residences spanning around 524 sqm.

A single penthouse will crown the building, featuring a private pool, barbecue area, indoor gym and dedicated entertaining spaces.

Residents will have access to a resort-style suite of amenities, including a 20-metre pool with daybeds, a gymnasium, hot and cold plunge pools, a sauna, and private residents’ lounge and dining facilities.

<img alt="DVB Projects to commence demolition on $320m Broadbeach luxury tower" data-entity-type="file" data-entity-uuid="d1642bb0-9a66-4427-a022-dfc0988c6287" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/A02_Pool%20to%20View.jpg?VersionId=c0IXPyn_Gp_Kn3XCwzMrqIVkAdCEwVXP" />

Sales agent Todd Matheson, of <a href="https://www.apartments.com.au/project-marketer/pezet-matheson">Pezet Matheson</a>, which is marketing both 137 Old Burleigh Road and Sea Glass, said 137 Old Burleigh Road would address a clear gap in the market for genuine luxury products.

“There are very few opportunities on the Gold Coast where buyers can secure a residence of this size and quality in a new building,” Matheson said.

“What we’re seeing is a growing cohort of downsizers and interstate buyers who still want space - they’re not willing to compromise on living area, entertaining or finishes.

“This project has been designed with that buyer in mind. It offers the scale of a home, combined with the convenience and security of apartment living, in one of the coast’s most desirable positions.”

<img alt="DVB Projects to commence demolition on $320m Broadbeach luxury tower" data-entity-type="file" data-entity-uuid="59aae0ca-5639-4320-8aca-d0bf60f48e43" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/E01_Exterior%20Hero.jpg?VersionId=DS8Zfy2WtgUEtdfe0TEUuf1W1GfcZq8S" />

Located on a 1,156 sqm site one block from the beachfront, the development will replace an ageing walk-up building and is expected to contribute to the ongoing transformation of the Old Burleigh Road strip into one of the Gold Coast’s most prestigious residential corridors.

With the development moving into the delivery phase, 137 Old Burleigh Road is slated to hit the market later this year.

[smartcode_project_cta:default project_id=145141]

DVB Projects to launch second Broadbeach apartment tower as demolition commences

A proposal to redevelop one of North Sydney's ageing commercial buildings has taken another step forward, with plans for a 38-storey mixed-use tower adding momentum to the long-awaited transformation of the Alfred Street precinct.

Now on public exhibition through the NSW Government's Housing Delivery Authority-led State Significant Development pathway, the proposal for 271-273 Alfred Street would replace an underutilised commercial building with 95 apartments, ground-floor retail, commercial space and affordable housing. The proposal was submitted by&nbsp;Tara Shore Pty Ltd, acting for the John Taylor Family Trust.

While the project will deliver much-needed housing on the southern edge of the North Sydney CBD, it also represents another piece of a broader precinct that has spent years in planning limbo.

<img alt="First look: New public domain vision underpins 95-apartment North Sydney tower on Alfred Street" data-entity-type="file" data-entity-uuid="7e1ce1b4-38df-48ab-992f-386814d86308" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Alfred%20St%20da%20podium.png?VersionId=sC_h6w.A9VEoB98qsqowPlIoz__sBZBt" />

Despite its proximity to both North Sydney Station and the Victoria Cross Metro, redevelopment of Alfred Street has progressed slowly over the past decade as broader planning controls, zoning and building heights remained unresolved. The introduction of the Housing Delivery Authority pathway has provided a new avenue for projects to progress, allowing rezoning and development assessment to occur concurrently and unlocking sites that have long been earmarked for renewal.

Designed by Office of Cortese &amp; Gilder, the proposal seeks to do more than replace an ageing office building. The architects have positioned the project as the first stage of a wider public domain vision that would improve pedestrian connectivity and create a more cohesive mixed-use precinct as neighbouring sites are redeveloped over time.

The proposal includes a widened Alfred Street setback, new street trees, landscaping and outdoor seating, along with a landscaped through-site pedestrian link connecting Alfred Street with Little Alfred Street. The connection is intended to become the first section of a future east-west pedestrian network extending across the precinct.

<img alt="First look: New public domain vision underpins 95-apartment North Sydney tower on Alfred Street" data-entity-type="file" data-entity-uuid="8ea39ac3-46ad-4562-b4a0-b862e91c2dda" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Alfred%20St%20da%20site.png?VersionId=K7umCd21KpetEFuVfsPlnJKhUOsmTTdV" />

The mixed-use tower would comprise retail space at ground level, commercial uses on level two and apartments from level three upwards.

In total, the development would deliver 95 apartments, including nine one-bedroom, 28 two-bedroom, 56 three-bedroom and two four-bedroom residences. Twenty-one apartments, representing 15 per cent of the residential gross floor area, would be secured as affordable housing and managed by a registered community housing provider for at least 15 years.

Nine basement levels would provide 133 resident car spaces, seven motorcycle spaces and 111 bicycle spaces.

According to the Architecture and Urban Design Report, the public domain strategy is designed to transform what is currently an inward-facing commercial edge into a more active and connected pedestrian environment, creating a stronger relationship between the commercial core and surrounding residential neighbourhoods.

Office of Cortese &amp; Gilder has also prepared a broader public domain framework spanning neighbouring properties between 263 and 283 Alfred Street, arguing that a coordinated approach to redevelopment will deliver better public spaces, improved tower separation and a more connected streetscape as the precinct evolves.

The proposal comes at a time where North Sydney is slated for future residential growth. Commercial developer FiveX has residential plans for the neighbouring site at 275 Alfred Street. They've proposed a 39-storey mixed-use tower with 184 apartments, while Freecity was recently approved for nearly 300 apartments across a 51-storey building on Walker Street.

Read more:&nbsp;<a href="https://www.apartments.com.au/news/nsw/first-look-freecity-gets-green-light-for-mixed-use-apartment-and-hotel-tower-in-north-sydney">First look: Freecity gets green light for mixed-use apartment and hotel tower in North Sydney</a>

Read more:&nbsp;<a href="https://www.apartments.com.au/news/nsw/first-look-fivex-plans-39-storey-residential-tower-in-booming-north-sydney">First look: Fivex plans 39-storey residential tower in booming North Sydney</a>

&nbsp;

Alfred Street the latest North Sydney pocket to be transformed by residential development

Buyers considering a residence at boutique Gordon townhouse development <a href="https://www.apartments.com.au/new-townhouses/lume-gordon-43-47-dumaresq-street-gordon-nsw-2072">Lume</a>&nbsp;now have another reason to bring forward their decision.

For a limited time, purchasers of a residence at Lume will receive a BMW iX3 50 electric SUV, valued at more than $120,000, as part of their purchase. The offer is designed to add value for buyers while complementing the lifestyle envisioned for the architecturally designed Upper North Shore development.

Scott Timmins, Development Manager at <a href="https://www.apartments.com.au/developers/winim">WINIM</a>, said the partnership was created to provide buyers with a compelling reason to act.

"In today's market, buyers need a compelling reason to act now, and the BMW partnership was designed to create that catalyst. We wanted to add genuine value for our future purchasers. Choosing the all-electric BMW iX3 50 also reflects the values behind LUME, forward-thinking design, innovation and a more sustainable way of living. It's a premium incentive that complements the lifestyle our buyers aspire to and rewards those who commit early."

[smartcode_project:default project_id=7354 project_image_fid=374893]

Delivered by WINIM in partnership with Burtonwood Investment Partners, Lume comprises 14 architecturally designed two, three and four-bedroom townhomes created for families seeking the space of a freestanding house with the ease of modern, low-maintenance living.

The three-storey residences, designed by award-winning architecture practice <a href="https://www.apartments.com.au/architects/rothelowman">Rothelowman</a>, have been tailored for families and multi-generational living, featuring private internal lifts, flexible lower-level spaces, generous open-plan living and entertaining areas, media rooms, and landscaped outdoor spaces with custom outdoor kitchens.&nbsp;

Inside, engineered oak flooring, bespoke dining joinery with integrated wine fridges and backlit bars, sculptural porcelain bathrooms, Parisi freestanding baths and Astra Walker tapware create interiors that balance functionality with refined finishes.

Each townhome has been designed to combine generous internal spaces with sustainability initiatives such as EV charging infrastructure, while <a href="https://www.apartments.com.au/landscape-architect/arcadia-landscape-architecture">Arcadia</a>'s landscaped communal areas, centred around a restored creek line and native planting, encourage residents to connect with nature and spend more time outdoors.

[smartcode_project:default project_id=7354 project_image_fid=269527]

Rothelowman's Gary Tsui said the architecture was conceived to respond carefully to its Upper North Shore setting.

"Our vision was to create elegant, uplifting homes that draw on and positively contribute to the local character through meticulously considered design and an interaction with the surroundings."

The communal landscape has been designed as more than an open space between homes. Arcadia's Ben Newell and Kate Phillips said the adjoining reserve provided an opportunity to create a distinctive natural retreat for residents.

"Just as waterways carve their way through Ku-ring-gai's landscape, a raised boardwalk weaves through the reserve, connecting the homes to this tranquil oasis."

[smartcode_project:default project_id=7354 project_image_fid=374892]

Located just 300 metres from <a href="https://www.apartments.com.au/developments/gordon-nsw-2072">Gordon</a> Village and Gordon railway station, Lume offers convenient access to Sydney's CBD while placing residents close to some of the North Shore's leading schools, including Ravenswood, Pymble Ladies' College and Knox Grammar. Lane Cove National Park, Gordon Golf Club and a range of cafés and restaurants further reinforce the family-focused lifestyle on offer, with the BMW iX3 50 complementing everything from local trips around Gordon to weekend drives and city commutes.

Construction is underway with completion expected in mid-2027.

[smartcode_project_cta:default project_id=7354]

Boutique Gordon townhomes now come with a BMW iX3 50

Two apartments have sold for more than $10 million at EADE Byron Bay, setting some of the highest apartment prices ever achieved in the coastal town and underlining the growing appetite for luxury beachfront apartments in Australia's most popular coastal locations.

The $210 million project by Vitale Property Group has now secured more than $70 million in sales, led by residences that changed hands for $12.75 million and $11.75 million.

The record-breaking transactions reinforce the shift occurring in Byron Bay's premium property market, where affluent downsizers and lifestyle buyers are increasingly opting for high-end apartments over large beachfront homes.

<a href="https://www.apartments.com.au/new-apartments/eade-byron-bay-29-shirley-street-byron-bay-nsw-2481">EADE Byron Bay</a> occupies a rare 6,000 sqm absolute beachfront site on the corner of Shirley and Milton Streets overlooking Main Beach and The Wreck surf break, just 350 metres from Byron Bay's town centre.

The 25-residence development is the first beachfront apartment project approved in Byron Bay in more than a decade and is currently under construction, with completion expected in May 2027.

[smartcode_project:default project_id=145590 project_image_fid=359521]

The project has attracted a mix of local Byron Shire residents downsizing from larger homes, alongside interstate buyers from Sydney, Melbourne and Brisbane seeking a permanent coastal lifestyle without compromising on space.

Designed by <a href="https://www.apartments.com.au/architects/hayball">Hayball</a> and with interiors by <a href="https://www.apartments.com.au/interior-designers/alexander-co">Alexander &amp; Co</a>, EADE comprises&nbsp;10 garden apartments ranging from 284 sqm to 622 sqm, nine with private pools, five full-floor apartments and 10 rooftop residences with private plunge pools, expansive outdoor entertaining areas and uninterrupted ocean views.

[smartcode_project:default project_id=145590 project_image_fid=359527]

<a href="https://www.apartments.com.au/developers/vitale-property-group">Vitale Property Group</a> Managing Partner Chris Vitale said the project's combination of scale, location and limited future supply was driving buyer demand.

"There isn't another beachfront holding in Byron Bay of this size and position that could be developed again," Vitale said.

"Buyers are responding to the scarcity and the irreplaceability of a site of this calibre and to floorplans they can't find elsewhere in the market.

"We are seeing buyers place significant value on quality, space, design, resort-style amenities and the rarity of the location. The sales achieved to date demonstrate that discerning purchasers recognise the long-term significance of what is being created at EADE Byron Bay.

"Many are coming from larger homes in the Byron region, or from Sydney, Melbourne and Brisbane, and are after the space, security and convenience, without the upkeep of a house."

&nbsp;

[smartcode_project:default project_id=145590 project_image_fid=359523]

The Byron Bay project follows Vitale Property Group's delivery of the Mondrian Hotel and Private Residences at Burleigh Heads, with EADE continuing the developer's focus on luxury coastal developments.

Residents will have access to a resort-style swimming pool, gymnasium, sauna, cold plunge pool, concierge services and dedicated workspaces, while the project is targeting an 8-Star Green Star rating.

EADE Byron Bay is being exclusively marketed by Projx Australia in conjunction with WHITEFOX Projects.

WHITEFOX National Projects Director Phillip Rand said demand had been driven predominantly by owner-occupiers.

"We are seeing buyers at EADE place significant value on quality, space, design, resort-style amenities and the rarity of this location," Rand says.

"The sales achieved to date demonstrate that purchasers at this level recognise the long-term significance of what is being created at EADE Byron Bay."

Residences at EADE Byron Bay are currently priced between $4.75 million and $15.95 million.

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[smartcode_project_cta:default project_id=145590]

Vitale breaks Byron Bay records with EADE sales flurry 

Sydney’s property market is known for high prices, competitive bidding, and mounting pressure on first home buyers. But change is on the horizon.

From late 2025, eligible first home buyers in New South Wales will have access to a new federal government initiative aimed at addressing affordability: the Help to Buy Scheme.&nbsp;

<h2>What is the Help to Buy Scheme?</h2>

The program introduces a shared equity model intended to reduce the upfront cost of entering the property market, particularly in high-demand urban areas such as Sydney.

The scheme operates under a shared ownership structure in which the federal government takes an equity stake of up to 40 per cent for new homes, or 30 per cent for existing dwellings. This arrangement allows eligible buyers to significantly reduce their loan size and avoid the added cost of Lenders Mortgage Insurance (LMI).

Under this model, purchasers can enter the property market with as little as a two per cent deposit, well below the traditional 10 to 20 per cent usually required. The government’s contribution is not a loan but a co-ownership stake in the property. As such, there is no interest or rent charged on its portion.

Because the government’s equity combined with the buyer’s deposit typically meets or exceeds the 20 per cent threshold, LMI does not apply. The remaining balance, generally between 60 and 70 per cent of the property’s value, is financed through a standard home loan with a participating lender.

The government's equity in the property remains in place until the buyer chooses to repay it voluntarily or until the property is sold. Buyers can buy back the government’s share over time, in increments of at least five per cent, depending on their financial situation.

There is no fixed repayment timeline, but the amount to be repaid will be based on the property's market value at the time of repayment, not the original purchase price.

<h2>How do you qualify for the&nbsp;Help to Buy Scheme?</h2>

To qualify for the Help to Buy Scheme, applicants must meet the following conditions:

<ul>
	<li>Be an Australian citizen at least 18 years of age.</li>
	<li>Be a first-home buyer who does not currently own property.</li>
	<li>Intend to live in the property as their primary residence.</li>
	<li>Earn less than $100,000 per year for individuals, or $160,000 for couples.</li>
	<li>Purchase a property within the regional price caps, currently $950,000 in Sydney, though this is expected to rise to approximately $1.3 million ahead of the program’s launch.</li>
</ul>

While the Help to Buy Scheme does not solve affordability challenges across the board, it does offer a more accessible pathway for a defined segment of the market, particularly younger buyers with moderate incomes who have been priced out of traditional lending routes.

The scheme is expected to commence in NSW in late 2025, as part of a national rollout.

Under the new model, purchasers can enter the property market with as little as a two per cent deposit, well below the traditional 10 to 20 per cent usually required

Help to Buy Scheme: What first home buyers in NSW need to know

The First Home Owners Grant (FHOG) is a government initiative designed to help eligible first-time home buyers by offering financial assistance towards the purchase or construction of a new home.

While the FHOG is a nationwide program, it is administered separately by each state and territory, meaning the eligibility criteria, grant amounts, and property requirements can vary depending on your location. This means that the amount available and the conditions attached to the grant will differ, so it is important to check the specific guidelines for your state or territory.

It’s important to note that the FHOG is just one of several incentives available to first home buyers. In most states and territories, the grant is not linked to stamp duty exemptions or concessions, with the exception of the Australian Capital Territory (ACT). The FHOG is typically a one-off payment, reducing the overall cost of purchasing or building a new home before any stamp duty concessions are applied.

Below, we provide a breakdown of the First Home Owner Grants available across Australia, outlining the specific details for each state and territory.

<h2>New South Wales First Home Owner Grant</h2>

First Home Owner Grant: Offers a $10,000 grant for new homes valued up to $600,000. For land purchases and owner-builders, the threshold extends to $750,000.

Stamp Duty Benefits: Provides full stamp duty exemption for homes valued up to $800,000, with concessions available for properties up to $1 million.

<h2>Victoria South Wales First Home Owner Grant</h2>

First Home Owner Grant: Provides a $10,000 grant for first-home buyers purchasing or building new homes valued up to $750,000.

Stamp Duty Benefits: Offers full stamp duty exemption for properties up to $600,000, with concessions available up to $750,000.

<h2>Queensland First Home Owner Grant</h2>

First Home Owner Grant: Offers $30,000 for contracts signed between 20 November 2023 and 30 June 2025. The FHOG applies to new homes valued up to $750,000.

Stamp Duty Concessions: Provides additional concessions for properties valued up to $800,000.

<h2>Western Australia First Home Owner Grant</h2>

&nbsp;

First Home Owner Grant: Offers a $10,000 grant for new homes valued up to $750,000 in the southern regions and up to $1 million in the northern regions.

Stamp Duty Concessions: Available for homes valued up to $600,000 for transactions entered into on or after 9 May 2024.

<h2>Australian Capital Territory First Home Owner Grant</h2>

First Home Owner Grant: Replaced by the Home Buyer Concession Scheme, offering full stamp duty concessions for eligible buyers.

<h2>South Australia First Home Owner Grant</h2>

First Home Owner Grant: Provides up to $15,000 for new homes, including houses, apartments, and townhouses. As of 6 June 2024, there is no property value cap for eligibility.

Stamp Duty Relief: Available for new homes and vacant land purchases.

<h2>Tasmania First Home Owner Grant</h2>

First Home Owner Grant: Offers a $10,000 grant for new homes and off the plan purchases.

Stamp Duty Exemption: Between 18 February 2024 and 30 June 2026, first home buyers of established homes valued up to $750,000 receive a full exemption on property transfer duty.

<h2>Northern Territory First Home Owner Grant</h2>

First Home Owner Grant: The Northern Territory provides a $10,000 grant for new homes only. Additional government grants and concessions are available for first home buyers.

Stamp Duty Exemption: The only stamp duty exemption available to property buyers is the House and Land Package Exemption (HLPE).

Eligibility criteria and application processes differ across states. Prospective buyers should refer to their respective state revenue offices for full details on grant availability, conditions, and additional concessions.

Every First Home Owner Grant for new property by state

In the ever-evolving landscape of sustainable architecture and environmentally conscious design, systems and ratings in place can help determine the energy efficiency of residential buildings in Australia.

Australia has multiple building rating systems that evaluate energy efficiency and sustainability in existing and new building designs.

Some systems assess individual building components, while others provide an overall rating for the entire structure.

A rating system ensures that homes are comfortable and energy-efficient, whether you are buying, renovating, or building.

NatHERS (Nationwide House Energy Rating Scheme) is a common way for new homes to meet energy efficiency requirements.

As new developments continue to shape the urban environment, understanding NatHERS ratings becomes essential for developers and homeowners. This article delves into the concept of NatHERS ratings, their significance, and how they contribute to creating energy-efficient homes.

<h2>What is NatHERS?</h2>

NatHERS is a national initiative implemented by the Australian government to promote energy efficiency in residential buildings. The scheme aims to provide a standardised method for assessing the thermal performance of homes, considering factors such as insulation, orientation, ventilation, and building materials.&nbsp;

NatHERS ratings are the most common way new homes meet the National Construction Code's (NCC's) minimum energy efficiency requirements.&nbsp;

NatHERS assessments provide thermal and whole-home ratings for new homes, townhouses, and apartments.

The rating helps evaluate the energy performance of buildings, guides homeowners and developers to make informed decisions about the energy efficiency of their properties, and encourages the construction of more sustainable, comfortable, and cost-effective homes.

<h2>How NatHERS Ratings Work</h2>

NatHERS ratings are determined through four accredited software tools (AccuRate, BERS Pro, FirstRate5, HERO) using a calculation engine CSIRO developed to predict building temperature based on various factors.

The tools can model complex effects of building mass, insulation, window size, and other elements.

The outcome is a star rating that reflects the building's overall thermal efficiency, indicating how well it can maintain a comfortable indoor temperature without excessive reliance on heating or cooling systems.

The star rating scale ranges from 0 to 10, with a 6-star rating being the minimum requirement for compliance with the National Construction Code (NCC).&nbsp;

Achieving a higher star rating demonstrates a commitment to energy efficiency and sustainability, as the building is better equipped to minimise its environmental impact and reduce long-term energy costs.

Anyone can use NatHERS tools, but accredited assessors can provide certified ratings and professional advice.

<h2>Benefits of Higher NatHERS Ratings</h2>

Energy Efficiency: Buildings with higher NatHERS ratings are more energy-efficient, requiring less heating and cooling energy. This reduces the structure's carbon footprint and lowers occupants' energy bills.

Cost Savings: Homes with higher NatHERS ratings are generally more energy-efficient, resulting in reduced energy consumption for heating and cooling. This translates to lower energy bills for homeowners, making sustainable living environmentally friendly and economically viable in the long run.

Environmental Impact: Lower energy consumption directly translates to a reduced environmental impact. Buildings with higher NatHERS ratings contribute to the overall goal of mitigating climate change by lowering greenhouse gas emissions associated with heating and cooling systems.

Improved Comfort: Buildings with high NatHERS ratings offer better thermal comfort to occupants. Proper insulation, well-designed ventilation, and optimal orientation maintain a consistent and comfortable indoor temperature, providing occupants with a more enjoyable and healthier space.

Market Value and Desirability: Higher NatHERS ratings can enhance the market value of a property. As energy efficiency becomes a more significant consideration for homebuyers, a well-rated building may attract a premium price and stand out in the real estate market.

Compliance with Building Codes: NatHERS ratings are a vital component of the National Construction Code (NCC), and compliance with these ratings is often a mandatory requirement for new developments. Local councils and planning authorities may set minimum energy efficiency standards that must be met to obtain development approval.

The Nationwide House Energy Rating Scheme (NatHERS) is a crucial initiative shaping the future of energy-efficient, resilient, and cost-effective homes. With its recent upgrades, NatHERS has evolved into a world-leading tool for the building sector, supporting the global commitment to achieving net-zero emissions by 2050.

Staff Writer

What is a NatHERS rating in new off the plan apartment developments?

Mixed-use developments have gained significant popularity across Australia in recent years due to their unique blend of residential, commercial, and recreational spaces.

Unlike traditional single-purpose developments, mixed-use projects offer a harmonious integration of various functions within a single locale.

Residential units seamlessly coexist with commercial establishments, retail outlets, dining venues, entertainment hubs, and recreational facilities, with the combination not only enhances convenience but also fosters a vibrant lifestyle and a sense of community.

<h3>Convenience and accessibility</h3>

Mixed-use developments are designed with convenience in mind. They often integrate residential units with commercial spaces, retail outlets, restaurants, and recreational facilities, creating a self-contained community.

[smartcode_project:default project_id=114215 project_image_fid=204874]

The proximity allows residents to enjoy the convenience of having essential amenities and services within walking distance. Whether it's grabbing a cup of coffee, going grocery shopping, or accessing healthcare services, everything is conveniently located, saving residents time and effort.

<h3>Vibrant lifestyle and community</h3>

One of the major advantages of mixed-use developments is the vibrant lifestyle they offer. With a diverse range of amenities and communal spaces, residents have ample opportunities to interact, socialise, and build a sense of community.

[smartcode_project:default project_id=107714 project_image_fid=214122]

The presence of parks, community centres, and shared spaces fosters a lively atmosphere, encouraging residents to engage in various activities and events. The vibrant lifestyle within these developments creates a unique sense of belonging and camaraderie among the residents.

<h3>Potential for higher rental yields and property value appreciation</h3>

Mixed-use developments tend to attract a broad range of tenants and buyers due to their versatile nature. This high demand can result in higher rental yields for investors and potentially lead to property value appreciation over time.

[smartcode_project:default project_id=139989 project_image_fid=212887]

The integration of commercial and retail spaces attracts businesses, which can provide a stable rental income stream. Additionally, the popularity of mixed-use developments often drives up property values, making them a potentially lucrative investment in the long term.

<h3>Enhanced security and maintenance</h3>

Mixed-use developments typically have comprehensive security measures in place. With controlled access points, CCTV surveillance, and professional security staff, residents can enjoy enhanced safety and peace of mind.

[smartcode_project:default project_id=108019 project_image_fid=212658]

Additionally, these developments often have dedicated maintenance teams responsible for the upkeep of common areas, landscaping, and infrastructure. This ensures that the overall appearance and functionality of the development are well-maintained, creating a pleasant living environment for residents.

<h3>Live-work-play balance</h3>

One of the key attractions of mixed-use developments is the ability to achieve a desirable live-work-play balance. The integration of residential and commercial spaces allows residents to live closer to their workplaces, reducing commuting time and improving work-life balance.

The proximity to various amenities and recreational facilities encourages an active and healthy lifestyle. Residents can easily access fitness centres, parks, restaurants, and entertainment options, all within the same development, leading to a more fulfilling and convenient way of life.

alisonwarters@gmail.com

The top five reasons to buy in a mixed-use development

When buying a property, everyone needs to be aware of the additional costs that come as part of the buying process.

Often the largest outlay, after the deposit which goes to the bank, is stamp duty.

<h2 style="line-height: 1.38;">What is Stamp Duty?</h2>

Stamp duty is an extra tax to pay the government when you buy land, a property, and other certain assets.

It happens when the legal ownership is transferred. It can also be known as property transfer duty or transfer duty.

<iframe allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture" allowfullscreen="" frameborder="0" height="415" src="https://www.youtube.com/embed/C32BWkB5--c" title="YouTube video player" width="660"></iframe>

<h2>Who pays Stamp Duty?</h2>

In some circumstances, you may get an exemption. For some states, you won’t have to pay for stamp duty if you are a first home buyer or a pensioner for houses under a particular price. There are also stamp duty concessions, where you may be entitled to a discount.

<h2>How much does Stamp Duty cost?</h2>

Each state has different rules which affect how much you need to pay. These rules can affect the rate you pay, and the timeframe you will need to pay in. Before you buy land or a property, make sure you check the up-to-date information for your state’s stamp duty.

You can use a free stamp duty calculator online to see approximately how much you’ll need to pay. Find out if you’re eligible for an exemption by enquiring on a project via Urban!

Overall, the stamp duty you need to pay will depend on:

<ul>
	<li aria-level="1">How much your land/property is worth</li>
	<li aria-level="1">Where your land/property is located</li>
	<li aria-level="1">What type of land/property it is</li>
</ul>

Want to find out more? <a href="https://www.youtube.com/@UrbanAustralia?utm_source=YouTube&amp;utm_medium=Video&amp;utm_campaign=Subscribe&amp;utm_id=Subscribe">Subscribe to our YouTube channel</a> for more property videos.

Ellen Walker

Off-the-plan property explained: What is stamp duty?

When buying an apartment, most people compare the big-ticket items first. Floorplans. Kitchens. Balcony size. Natural light. The view.

But there's one everyday consideration that often doesn't come up until after moving in: how parcels are delivered.

As online shopping has become part of everyday life, parcel deliveries have shifted from an occasional event to a regular occurrence. Australians spent a record $82.6 billion shopping online in 2025, with almost one in every four retail dollars now spent digitally.

For apartment residents, that can present a challenge.

If nobody is home to accept a delivery, parcels may be redirected to a nearby Post Office, left in a building lobby or common area, or require building management to step in. In higher-density buildings, where dozens or even hundreds of residents may receive deliveries each day, parcel management has become an increasingly important part of everyday living.

That can create a range of frustrations. A missed delivery often means making time to collect a parcel elsewhere, while packages left unattended in foyers or mail areas can create clutter and increase the risk of theft. What seems like a minor inconvenience can quickly become a recurring issue for residents who shop online regularly.

It's one of those details that rarely features in a display suite but can have a noticeable impact once residents move in.

As a result, buyers are beginning to look beyond traditional apartment features and consider how a building supports day-to-day convenience, including whether there are secure options for receiving deliveries.

Australia Post's Parcel Lockers provide one solution.

<iframe allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" allowfullscreen="" frameborder="0" height="315" referrerpolicy="strict-origin-when-cross-origin" src="https://www.youtube.com/embed/CkF2oKmlACg?si=C50sDaoUUn2nuLmq" title="YouTube video player" width="560"></iframe>

Rather than having a parcel delivered directly to an apartment, eligible deliveries can be sent to a nominated Parcel Locker. Once the parcel arrives, residents receive a notification through the AusPost app or SMS and can collect it using a QR code or one-time PIN at a time that suits them.

The Parcel Locker network now includes more than 1,500 locations nationwide, with installations at Post Offices, shopping centres, transport hubs and an increasing number of residential developments. By providing a secure collection point, Parcel Lockers help reduce missed deliveries and avoid parcels being left unattended in common areas.

For developers, parcel infrastructure is becoming another way to improve the resident experience. Rather than relying on concierge staff or leaving parcels in communal spaces, secure collection points help streamline deliveries while preserving the presentation and functionality of shared areas.

For buyers, it's a reminder that the best apartment features aren't always the most obvious.

A generous floorplan or quality finishes might help narrow the shortlist, but the conveniences that simplify everyday life, whether that's EV charging, secure bike storage or reliable parcel delivery, often become the features residents appreciate most once they're living there.

The apartment feature many buyers don't think about, until their first missed delivery

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A mix of local owner occupiers and investors have purchased 70% of the 136 apartments in Doncaster's Gardenhill development, within three months of its launch.
The development is a joint venture between Melbourne's Beulah International and Malaysia's Fajarbaru Builder Group. Woods Bagot designed the project, with a curved façade and sliding panels on both the exterior and in the apartments' interiors.
<img src="/images/2015/02/24/doncaster%20two_0000_1.jpg.jpg" alt="">
The internal movable panels allow residents to rearrange the layout of their apartment.
The rooftop garden has been designed by Jack Merlo and includes a teppanyaki BBQ, an edible garden, deck and grassed entertainment area.
<img src="/images/2015/02/24/doncaster%20two_0002_3.jpg.jpg" alt="">
Prices for one bedroom apartments in <a href="https://www.gardenhill.com.au" target="_blank">Gardenhill</a> (pictured above) begin at $390,000. Both one and two bedroom apartments are available.
Fajarbaru-Beulah International (Melbourne) executive director Jiaheng Chan says the flexible interiors have attracted buyers, which include both downsizers and investors.
"We've found the project's flexible interior spaces and moveable sliding panels along with the impeccable architectural design and stunning uninterrupted views to be some of the biggest draw cards for the project so far," said Jiaheng.
The development, currently under construction, is one of a number currently being marketed to buyers in <a href="/news">Doncaster</a>.
The nearby <a href="https://imperialdoncaster.com/" target="_blank">Imperial Doncaster</a> (pictured below) is offering a Chinese New Year special, with developer AFX covering stamp duty costs for buyers until 28 February. The medium-rise, 10 storey development has 93 apartments.
<img src="/images/2015/02/24/doncaster_0000_1.jpg.jpg" alt="">
Designed by Buchan Group Architects, the apartments are priced from $547,000 for a two bedroom apartment, but some apartments exceed $2 million. There are currently 12 apartments available.
The AXF Group, which began developing property in 2005, ranked among the busiest developers in Melbourne's outer eastern suburbs, <a href="/news/vic/chinese-developer-asx-property-selling-imperial-the-crown-of-doncaster">Property Observer reported in 2013</a>.
<img src="/images/2015/02/24/doncaster_0005_6.jpg.jpg" alt="">
In 2011, the group completed another Doncaster project, The Berkeley, a 116-apartment block. 
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jrichardson-uRX5hFdKfN

Doncaster's latest Gardenhill 70% sold as Imperial reaches tail end

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Lower interest rates may do nothing more than inflate property prices, according to Bank of America Merrill Lynch's Australian economist Saul Eslake.
Eslake suggests further cuts to the cash rate "may be relatively ineffective in directly stimulating improved levels of activity in the economy over the short-term".
However he is tipping a second 25 basis point cut to 2%.
Eslake predicts an increase in the median national dwelling price from an average $469,000 to $497,000 in 2015, along with debt metrics at levels not seen since the heady days before the onset of the global financial crisis.
"Indeed, on the majority of measures and metrics Australia's household debt level is already high compared to our own history and other developed nations," he said.
"The household sector holds more debt than the non-financial business sector and all levels of government combined.
"And as a proportion of GDP [it holds] more than any other comparable developed economy," he said.
Constraints on fiscal spending, the federal government's inability to push through budgetary reforms, and state governments' reluctance to sell public assets had added to pressure on the RBA, Eslake said.
"The RBA finds itself in a difficult position," he told the Australian Financial Review.
"Households with a mortgage continue to pay the same mortgage amount each month with only the principal and interest proportions altered," he said.
"In this way, lower interest rates have largely been cashflow neutral."
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jchancellor-FAypfDUnLy

Saul Eslake tips another RBA rate cut, but wonders on its effectiveness

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A $3.35 million Vaucluse home was the most expensive sold last week, exceeding the sale of $3,225,000 Mosman house.
The house at <a href="https://www.domain.com.au/property/sold/house/nsw/vaucluse/?adid=2011702484" target="_blank">9 The Crescent in Vaucluse</a> (pictured above) had remained in the same family for 53 years. It has four bedrooms, two bathrooms and a powder room, with separate living and dining rooms.
The home also includes two sunrooms, with timber flooring and decorative ceilings. The house, sold through Richardson &amp; Wrench Double Bay, is located just across the road from waterfront parklands.
A renovated Federation home at <a href="https://www.propertyobserver.com.au/https://www.mcgrath.com.au/buy/house-mosman-nsw-2088/225370" target="_blank">131 Middle Head Road, Mosman</a> was the second highest sale of the week. Sold through McGrath Estate Agents, the c1910 home with a rear north orientation has four bedrooms and rear access.
The top 10 sales of the week ending 22 February
<ol>
<li>9 The Crescent, Vaucluse, NSW, 2030, four-bedroom house, sold on February 17 by Richardson &amp; Wrench Double Bay for $3.35 million </li>
<li>131 Middle Head Road, Mosman, NSW, 2088, four-bedroom house, sold at auction on February 18 by McGrath Estate Agents for $3.225 million </li>
<li>6 Alton Avenue, Concord, NSW, 2137, five-bedroom house, sold at auction on February 17 by McGrath Estate Agents for $2.99 million </li>
<li>63 Wharf Road, Gladesville, NSW, 2111, five-bedroom house, sold on February 17 by McGrath Estate Agents for $2.9 million </li>
<li>4A Bellevue Garden, Bellevue Hill, NSW, 2023, three-bedroom house, sold prior to auction on February 18 by Phillips Pantzer Donnelley for $2.79 million </li>
<li>5 Linkmead Avenue, Clontarf, NSW, 2093, five-bedroom house, sold at auction on February 21 by Clarke &amp; Humel Property Manly for $2.715 million </li>
<li>37 Windsor Street, Paddington, NSW, 2021, three-bedroom house, sold prior to auction on February 21 by BresicWhitney Estate Agents Darlinghurst for $2.7 million </li>
<li>369 Esplanade, Mount Martha, VIC, 3934, five-bedroom house, sold on February 17 by Harcourts Mornington for $2.65 million </li>
<li>44 Nelson Road, Lindfield, NSW, 2070, four-bedroom house, sold at auction on February 21 by L J Hooker Concord for $2.643 million </li>
<li>36 Bourne Road, Glen Iris, VIC, 3146, four-bedroom house, sold at auction on February 21 by Marshall White Real Estate for $2.54 million</li>
</ol>
Source: CoreLogic RP Data 
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After 53 years of ownership, Vaucluse home pips Mosman: CoreLogic Top 10 sales

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GUEST OBSERVATION
Perth is not high in the national consciousness, although its growth has sparked some interest.
The latest Australian Bureau of Statistics <a href="https://www.abs.gov.au/ausstats/abs@.nsf/Latestproducts/3222.0Main%20Features112012%20%28base%29%20to%202101?opendocument&amp;tabname=Summary&amp;prodno=3222.0&amp;issue=2012%20%28base%29%20to%202101&amp;num=&amp;view=" target="_blank">projections</a> about its population growth are remarkable – three million by the early 2020s, passing Brisbane later that decade, five million by 2050, bigger than Sydney now: the prospect of becoming Australia’s second “global city” megalopolis beckons.
It is not hard to deconstruct these projections, and they may be overstated. Perth has always grown in fits and starts depending on the mining industry. But in-between the spurts it continues to grow, because people find interesting things to do and a good place to live. So Perth will keep growing at a fair clip.
On The Gruen Transfer a few years ago, the ABC’s chosen marketing gurus were asked to sell the idea of a “bogan-proof fence stopping Western Australians from crossing to the east”.
I was amazed by how seriously they took it.
The view from across the Nullarbor is that Perth is a “Wild West” town with few of the features of a cultivated and civilised society. There is some truth in this, as our treatment of the Noongar would indicate, and we have little of the iconic architecture or memorable townscapes of the European ideal.
But this is a city with a very strong civil society, especially in environment and planning. I study cities around the world and find that idealism about environment and planning is the basis of a strong city, essential to any potentially sustainable future.
From my professional point of view, I know that self-satisfied cities are in trouble. The best are full of people who are dissatisfied with what their cities are doing about the future, and who set up organisations to change this.
Perth is much more than a relic of the Wild West, its civic sensibilities are strong and it is setting the pace towards building a sustainable future. The American–Pacific states threw off their Wild West past to become the epicentre of sustainability, innovation and cool, confounding preconceptions. Perhaps the analogy can be applied here.
Maybe the better challenge for The Gruen Transfer would be to sell the sustainability lessons that have been learned in the Indian Ocean state.
The “Wild West” should not care for its environment – it should just exploit its forests. But that is not our long-term or recent history.
People noticed the amazing wildflowers very early on, and now we know that the south-west corner of Australia is one of the world’s biodiversity hot spots.
Preserving bushland has had a strong scientific and popular base. The early settlers could find no suitable agricultural land in the sandy soils of the Swan Coastal Plain, nor was there much on the adjacent Darling Scarp with its jarrah forest and ancient, eroded soils. But there were good soils inland, so the great Wheatbelt was created and some of the most biodiverse countryside in the world was used to produce grain.
As the population grew and water became the most limiting resource, jarrah forests were set aside for water catchment and the Swan Coastal Plain groundwater systems for water supply. Much bushland was saved by these decisions, and is now mostly preserved in perpetuity.
Further south, however, both jarrah and karri were easy prey for export and the local market. The forest campaigns began early, as people realised how special these forests were, but it was not until the 1960s that their conservation campaign really got going. The civil society movements generated over the next 40 years became more and more sophisticated, and began to eat into the political landscape.
Finally, in the 2001 election, “stopping the logging of old growth forests” became the mantra of the ALP government, after much internal lobbying and a famous campaign involving Mick Malthouse (the coach of the West Coast Eagles AFL team), fashion queen Liz Davenport, and other famous public figures including the artist Robert Juniper.
It was the time of the “men in suits” protests, where protesters gathered outside the premier’s office and jammed the switchboard with mobile calls.
Geoff Gallop won the election. Polls showed that not only were all his Australian Labor Party supporters wanting to set aside these forests, but 92% of Liberal voters as well.
Never before had there been such a complete whitewash of the opposing forces – led by captains of industry including Michael Chaney, the former CEO of Wesfarmers. WA was the first state to make such a decision; it was not a “Wild West” decision.
During the 1990s, alarming predictions were made that Perth would have to be abandoned in the near future because its water supplies were not sustainable. All the climate change models demonstrate a drying climate in the South West, and this has been observable during more than 40 years of reduced rainfall. Dams and groundwater were never going to be enough, and the Water Corporation decided well before climate change became a political football that the predictions were real.
In 2001, a crisis emerged when it did not rain. Apart from immediate conservation measures, the long-term solution was thought to lie in a large deep aquifer called the Yarragadee in the South West. But civil society objected: stressing a natural system in a drying climate was not sustainable. The result was a decision to build wind-powered desalination.
In the eastern states, desalination became a dirty word for wasted public expenditure: the plants built at the end of the last big drought have hardly been used. Not in Perth. Over half of the water supply comes from the Indian Ocean, and soon recycled, treated sewage will recharge depleted aquifers.
Perth is now climate-proofed – the first Australian city to successfully introduce wind-powered desalination. A remarkable turnaround from the earlier dire predictions.
This journey began when CSIRO scientists and others demonstrated that reduced rainfall was likely be a permanent reality. People in Perth and the South West were highly sensitive to the issue, and pushed the politics of resilience planning to the limit by saying an emphatic no to using the Yarragadee aquifer as the next major water source.
Desalination and recycling of sewage were the only real options, and despite being the first city to attempt it, the politicians moved quickly to affirm desalination and get it into the water supply system. They have been proved right. As the Pacific Ocean moves into another El Niño drought cycle, the eastern seaboard cities will move to use the mothballed desalination plants that were built just as it started raining again.
Perhaps the politicians and their technical advisors who thought it was a good idea to buy them will finally be recognised for their resilience planning, just as they are in Perth. Being a leader in climate adaptation is definitely not “Wild West”.
Article continues on the next page. Please click below.
<hr class="system-pagebreak">
Perth 25 years ago had virtually no railway system.
Only seven million passengers a year trundled along in the old diesel trains. The new suburbs to the north and south had no prospect of good quality public transit.
Now, there are more than 70 million passengers a year travelling on fast, quality railways to the north and south. Perth’s public transport has become the envy of other Australian cities. It needs to double this again, but this is not the Wild West when it comes to public transport.
Perth is a very beautiful city, but it has always been a car-based city. The processes that began to reverse this, and build railways instead of freeways, were not the result of public-sector plans – they were shaped by civil society action, through the political system. The almost 200 kilometres of modern electric rail built since 1990 would not have happened if the public sector had had its way.
The railway to Fremantle was closed in 1979 after a government report claimed Perth would never need a rail system. A four-year grassroots campaign resulted in the removal of a government, and a period of rebuilding. Extending the rail into new areas was the subject of at least four elections, and at each one the same public-sector advice suggested that car-based suburbs would never work with a rail system.
The public disagreed, and hence fast rail was introduced into the long northern and southern corridors with spectacular patronage results. The “Perth model” of building rail into car and bus-only suburbs is now being adopted in many cities around the world, including all the main cities on the east coast. It was not a Wild West culture that did that.
Perth has had a long history of idealistic planning since early days, from John Septimus Roe through to Gordon Stephenson. Professor Stephenson, Britain’s most eminent planner, drew up a plan in the late 1950s that created a long-term land use, infrastructure and open-space strategy girded by a statutory process with real legislative teeth. It also produced a land tax-based fund, hypothecated to providing regional infrastructure reserves and nature reserves.
The planning system in Perth has had bipartisan support now for more than 60 years. No regional decisions can be made without going through the Planning Commission with representatives from across government and all the local government corridors and regions.
One of the great achievements of the planning system is that 90 per cent of the land along the river and the coast was acquired. It has enabled reclamation of this priceless amenity for public use.
Perth’s main planning problems are due to car-dependent urban sprawl. The Stephenson Plan was created when car ownership and use were rising dramatically, so building a city to accommodate this seemed to make sense.
Cities are shaped by their dominant transport mode, as housing and jobs cluster around the means of transport. Thus, we have central cities of Perth and Fremantle (the old walking city fabric) and the traditional railway suburban corridors (the transit city fabric from the 1880s to 1950s) that are rather thin, as they did not grow in the periods of intensive commitment to these modes like Melbourne and Sydney, and most European cities.
Perth’s growth has mostly been in the automobile city period from the 1950s on. We did it well. Perth, Brisbane and the Gold Coast are the most American of cities: in Perth, this is due to the planning system.
Each boom has fed into further growth of the car-dependent suburbs. For those seeking a safe and easy suburban lifestyle, Perth has everything.
But the city now stretches for 120 kilometres along the coast; predictions for 2050 suggest the sprawl will extend more than 270 kilometres from Myalup to Lancelin. The resulting lifestyle does not suit everyone.
Indeed, the latest boom lured a clutch of young professionals west, eager to take up some of the opportunities that growth provides. They were not just seeking the delights of suburbia, but wanted an urban lifestyle with all the benefits of being able to walk, cycle or take the train to work, with nearby bars and entertainment precincts, top-end restaurants and interesting places to stroll. They brought a taste for the urban from Melbourne and Sydney, New York, London and Shanghai.
And Perth has begun to provide it. Car use per capita has peaked, and the city has witnessed a dramatic growth in rail and cycling. And those thin bones of the walking city in Perth have been strengthened to create a much more interesting city centre. The streets are now filled with pedestrians day and night, footpaths host coffee shops and bars spilling out in ways that were never imagined, even a decade ago. Young immigrants of the iron ore boom have given Perth a new urbanity.
The next phase of filling in centres across the inner and middle suburbs has been planned, and stresses the need for more redevelopment and less sprawl. But it is still tentative and most local governments are not so keen.
At Curtin University we have developed a Plan for Perth, which suggests the next 30 years of urban growth should be filling in the gaps rather than sprawling. The development will need new rail extensions and a series of 20 to 30 cities within already existing suburbs.
Such centres would need European densities and should also be demonstrations of green infrastructure and design, following the leadership of developments like <a href="https://joshshouse.com.au/" target="_blank">Josh’s House</a>. It’s a plan to save money, petrol, greenhouse emissions and bushland – but will it happen?
“Perth people don’t like living in flats” has always been the cry, and this remains a feature of the city’s culture. But now, a large and young group seek dense, green urbanism and want to live in such centres. A more sustainable urban form beckons if we can overcome the fear of density. As the processes of planning are based on community engagement and the NIMBY (not in my back yard) reactions of local groups, convincing people of the benefits of the new green urbanist market is a challenge.
It is feasible to imagine Perth being a far more interesting, lively and sustainable city. Not a bogan hang-out, but the model of a sustainable future. Civil society has demonstrated how this can be done in relation to the environment and transport – the challenge is to have the same impact on the way we live. Planning for city centres rather than endless sprawl is the next step. Perth can become a sustainable, polycentric city, and a model for the 21st century.
Cities are always much more complex than their popular perceptions. But as populations grow, planning is more important than ever. It is worth remembering the lessons of the recent past: we saved the forests, provided a sustainable water supply and built a rail system. I was surprised that they actually happened, but not that they worked. I hope I will be surprised again, and Perth becomes an urban centre of sustainability.
Peter Newman is professor of sustainability at Curtin University.
This essay was originally published in <a href="https://griffithreview.com/editions/looking-west/">Griffith REVIEW 47: Looking West</a> and at <a href="https://theconversation.com">The Conversation</a>.
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PeterNewman-wk2epPjdFr

Perth could become a model for 21st-century urban planning: Peter Newman

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Most investors never make it past one investment property. The research indicates most Australians who buy an investment property no longer own that property - or any investment properties - within five years.
Sadly, many investors have bad experiences. They start from a base of little knowledge, compound it by failing to conduct (or pay for) quality research and ultimately make poor decisions.
I recently hosted a webinar which featured David McMillan, director of Performance Property Advisory, who said many investors fall victim to a series of myths and pitfalls.
They include:
<ul>
<li>Believing that property doubles every seven to 10 years on average. 
</li>
<li>Listening to mainstream media. 
</li>
<li>Failing to carry out proper research or being unwilling to pay for research. 
</li>
<li>Preferring, instead, to access free advice, which ultimately can be costly. 
</li>
<li>Failing to realise that the goal is not to buy property, but to build wealth. 
</li>
<li>Buying negatively-geared property in areas where values are not rising. 
</li>
<li>The “location location location” mantra, “an excuse for people to be complacent”. 
</li>
<li>Wanting to own local property so they can drive past to check on it. 
</li>
<li>Believing extreme bull or bear predictions.</li>
</ul>
“The property market does not double every seven to 10 years on average,” McMillan said. “This is one of the biggest myths in real estate. The agents have been very good at persuading the market that this is what happens. But doubling cycles are between 10 and 15 years.”
I agree with him. A 10% annual growth rate average was required for property to double every seven years, but the national capital city average for the past decade is 5.4% per year.
McMillan also shares my views about the real estate content of metropolitan newspapers. “A lot of what appears in mainstream media is what I call ‘noise’, which can distract investors and cause them to make mistakes by making decisions based on misinformation,” he said.
McMillan said people should never buy property unless it had a good chance of achieving at least 25% capital growth in the first three to four years of ownership.
“The only way to grow your portfolio is by owning property which gives you short-term growth,” he said. “As one example, investors should avoid Melbourne’s inner-city apartment market. The chances of any growth in the next three to  years are minimal. If an investor is spending $500,000 in this market, in three years it will still be worth $500,000 or possibly $480,000 or less.”
McMillan said Performance Property Advisory considered Sydney, Melbourne, Brisbane, Perth and Adelaide to be the primary markets for investors, while Newcastle, Canberra, Sunshine Coast, Wollongong, Hobart, Geelong, Townsville, Cairns, Ballarat and Bendigo were good secondary markets.
He said land content was a significant driver of capital growth, while dwellings on the land were drivers of cash flow. “Buy property that has at least 65% land value,” he said.
McMillan advised investors to avoid small towns, mining towns, markets with poor capital growth records, and areas with an abundance of land able to be developed. “I would avoid mining towns altogether, especially if you are a first time investor,” he said. “The returns may be there in some years, but mining towns will always be boom and bust markets.”
Factors to avoid with individual properties include locations on main roads, being next to commercial uses including offices and service stations, and being close to train lines. “Buy close to train stations, certainly, but not abutting train lines,” he said.
McMillan urged buyers to avoid properties with noise issues, safety concerns and privacy issues. He also opposed “generic property” which lacked a scarcity element, such as modern highrise apartments.
He said investors should shun apartment buildings with more than 20 units and lots of common amenities such as pools, gyms and lifts - which increase liability and strata fees.
He said new developments often had low ceiling heights, small bedrooms, poor natural light, limited car parking and poor storage. “Owner occupiers will never want to live in them long-term. They will always be traded investor to investor.”
He preferred smaller boutique unit blocks, preferably with only half a dozen units, with individual character and good features. “Unit blocks built before the 1980s tend to have the best features,” he said. “In addition, you should aim for body corporate fees to be about 0.5% of property value.”
Generally, he recommended investors buy established property rather than new. “Established property is better value from a land content viewpoint and from a scarcity viewpoint. Units have land content but the land content with new high-rise units is very low, whereas with the older-style boutique buildings it’s high.”
This is reinforced by individual research showing that units in boutique blocks show much higher capital growth than units in generic highrise buildings.
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>.
If you missed our free webinar with Terry Ryder, 'The Best and Worst for 2015: Top 5 Hotspots and 5 Places to Avoid', you can <a href="https://propertyobserver.us2.list-manage.com/track/click?u=24bd0766a834290948593f5aa&amp;id=2e37cb3570&amp;e=035e81ff9a" target="_blank">watch the video or download the slides here</a>. 
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The greatest property investment myths and pitfalls: Terry Ryder

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Is investing (or should one say, "speculating") in single industry towns a good idea?
In a word – no.
Single industry towns are typically offer a poor risk versus return equation and can represent excessively perilous locations in which to purchase an investment property.
Two of the main advantages of residential property are that everyday investors can generally use greater leverage than they can in other asset classes, and due to only a small percentage of the housing stock turning over in any given year, price movements generally tend not to be volatile.
However, just as a sportsman's greatest strength can also be his Achilles heel, so it is in real estate investment.
Using high levels of debt in an illiquid asset where there is a sustained or drawn-out price reversal means that punters can be stuck with a leveraged investment which is steadily declining in value, which is just about the worst thing an investor can do.
That's why I only recommend investing relatively close to the centre of the largest and growing capital cities for the long-term.
Risk v return
Of course, the concept of risk v return holds that if you pick the right town and you are not using excessive leverage, then it is possible to make fast gains in single industry regions.
Massive price gains in the Pilbara during the mining construction boom proved this to be true.
But the flip side is that if you don't get out again before the market peaks, there may be very few willing buyers on the way back down the price curve.
We have seen this in the Pilbara too, plus plenty of other regions which were tipped as hotspots in 2012 based upon the false premise of a mining construction boom that was - somewhat ridiculously – supposedly going to go on for decades.
Cash buyers or those with 50% plus deposits may be more willing to take on such a risk, but generally speaking, it is too risky a proposition.
Macroeconomic environment
OK, with all the above caveats and disclaimers out of the way, are there any towns or regions which are set for such a boost in 2015 and beyond?
Indeed there are.
If you study and have a basic understanding of Australia's macroeconomic environment then the answer to this question should write itself.
Australia is now coming down the other side of the mining construction boom with intention surveys suggesting a capex bust which could be one for the ages.
Meanwhile, as engineering construction collapses globally bulk commodities markets have been flooded with supply as the new mines come online and pump export volumes out at a record pace.
What does this mean for property markets?
Two things – a cash rate set to decline to a record low of perhaps 1.75% by 2016 – which will fire up some of the investor-heavy inner ring capital city markets - and a currency which has rapidly dropped off a cliff from around 110 US cents to below 78 cents.
 <img src="/images/2015/02/23/usd.png" alt="">
What about regional towns and cities?
Summarily, the towns and regions which are likely set for a property market boost include tourism regions and those with a heavy emphasis on dollar-exposed industries.
There are several regions which immediately spring to mind.
Firstly, these include a couple of Queensland's major coastal tourism regions.
Secondly, there is also a conurbation in tropical north Queensland which is long overdue to pick up after suffering a diabolical property market performance for the past decade and a half.
Be wary, however, as unemployment rates are elevated up in parts of the north, and these can be both volatile and illiquid markets.
And thirdly, while parts of Tasmania were clobbered by the dollar as it soared towards 110 cents against the US dollar, there should correspondingly be some relief as the dollar has  been dumped all the way back to 78 cents.
A word of warning, though – some of Tasmania's industries such as forestry will never regain their former glories - one of Australia's most established companies Gunns was thrust into administration an subsequently there were suggestions by the administrator of the grand old company having traded while insolvent.
Hobart's property market appears to be tightening considerably, which suggests a "landlords' market" is finally arriving after no price growth in real terms over the past decade.
There are several such regions and towns which could well see a 20% or more uplift in property valuations.
But I still wouldn't recommend investing in them. Sure you might get a 20% uplift, or perhaps even more, but then what?
Article continues on the next page. Please click below.
<hr class="system-pagebreak">
Investment strategy
Investing in residential property in growing capital cities can work well over the very long-term as an inflation hedge since new properties must be built to house the immigrant population and they will always be built in today's dollars and at today's construction and labour costs.
High transaction costs and capital gains taxes upon subsequent sale reflect that property does not generally work well as a regularly traded asset.
Over the long-term dwelling prices can be driven higher by:
<ul>
<li>a growing population; and</li>
<li>the growing wealth of that population.</li>
</ul>
While you might see either or both of these in a single industry town for a period of time, it is unlikely to be a sustained dynamic, and much of the wealth from an economic boom tends to filter back to capital cities in any case,
If property prices do genuinely take off in region then land is often released for development resulting in a glut and a corresponding market crash, as we have seen in some of Queensland's coal towns, including Moranbah.
Ask yourself how would you cope with a four week vacancy? Or a 4four month vacancy? If the answer is "not too well" then steer clear.
Furthermore if you hear vested interests in a market using phrases such as the following, alarm bells should probably begin to chime:
"Only 15-20% of employment in this region is employed in mining/tourism/forestry/other industry" – directly perhaps, but what about indirectly in related services industries.
And anyway, if unemployment rates are rising, 15-20% is a very significant figure.
"It's only a blip, this will blow over" – is the commentator qualified to opine on the industry outlook? Particularly if until only recently they thought the boom times would last for decades?
Timing the market is tough
Of course, like most markets, residential property is chock-a-block full with folk who think they are smarter than the market.
But, just as most drivers on the roads believe they are "better than average", by definition they cannot all be correct.
And indeed, they aren't.
You only have to look at some of the recommendations by expert advisors in the media over the past six or seven years – in fact, even over the last three - to know that picking regional property hotspots can be a hit-and-miss game.
Since the market bottomed in 2009, meanwhile, we have seen capital growth of around 78% in London on the Office for National Statistics indices.
In Sydney we have seen capital growth of around 60 since that time, with another massive year of price growth ahead.
For long-term sustainable capital growth - and a more accessible price entry point - investors should also consider inner ring Brisbane, in those suburbs with constrained supply (there are several which are not) and very low unemployment.
Instead as a property investor you should leave the single industry towns for the gamblers and construct a plan to compound or snowball your wealth for as long as you live.
The wrap
Remember, businesses and industries tend to have a life cycle, which is why for most average investors it is much safer to acquire assets which they can onto hold forever, such as an index fund.
This "all caps" approach works because all industries will not simultaneously decline, and if one company falls upon hard times, then another business from a different industry steps up to take its place.
And it's a bit like this when investing in property in capital cities.
The majority of jobs in the modern era are in the services sphere, with finance, banking, insurance and healthcare likely to be amongst the most thriving sectors.
Basic common sense dictates that investors should acquire property within easy commuting distance of where the great bulk of those jobs are located, in landlocked and supply-constrained suburbs, and hold on to them for the very long-term.
PETE WARGENT is the co-founder of <a href="https://allenwargent.com/" target="_blank" rel="nofollow">AllenWargent</a> property buyers (London, Sydney) and a best-selling author and <a href="https://petewargent.blogspot.com/" target="_blank" rel="nofollow">blogger</a>.
His new book '<a href="https://www.bigskypublishing.com.au/Books/General-Interest/Four-Green-Houses--and-a-Red-Hotel/1015/productview.aspx" target="_blank" rel="nofollow">Four Green Houses and a Red Hotel</a>' is out now.
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Risk v return: Is investing in a single industry towns a good idea? Pete Wargent

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Sydney’s median residential land price increased by 19.7 percent over 2014 to $390,000, he most expensive of all the state capitals, according to data from the Domain Group. 
The $390,000 December quarter median land price was well ahead of Melbourne at $245,000 and Brisbane $237,950.
With Sydney residential land prices now rising faster than booming house prices, the task for first home buyers is becoming increasingly difficult, said Andrew Wilson, senior economist at the Domain Group.
“Sydney’s annual land prices increased at the fastest rate in over a decade and recorded stronger growth than the booming house prices which increased by 14% over the same period.”
Sydney’s outer suburban residential land market recorded strong growth over 2014.  Prices in the south-west increased by 25% to a median of $350,000 while prices in the west rose by 8.3% to a median of $410,500. 
The median residential land size sold in the west over the six months ending December was 564 square metres  at $759 per square metre.  In the south-west, the median land size sold was 500 square metres at $652 per square metre.
The most popular outer west suburbs for land sales over the six months ending December 2014 were Riverstone, Colebee, Pitt Town, Kellyville and Glenmore Park. 
The most popular outer south west suburbs for land sales were Harrington Park, Campbelltown, Moorebank, Appin and Edmondson Park.
Kellyville recorded the highest median land price over the second half of 2014 at $643,000 with a median land size of 701 square metres at $912 per square metre. Land prices in Kellyville increased strongly by 38.2% over 2014.
Kellyville land estate prices on realestate.com.au regularly exceeded the APM advisory such as <a href="https://www.realestate.com.au/property-residential+land-nsw-kellyville-200988363" target="_blank">Chelsea on the Park</a> where prices started at $730,000 for 700 square metre blocks, and were priced up to $860,000.
There were prices advertised last year as $400,000 plus on <a href="https://www.realestate.com.au/property-residential+land-nsw-kellyville-201014799" target="_blank">Hillview Ridge Estate</a>, ranging from 667 square metres to 826 square metres.
The blocks priced from $465,000 at the <a href="https://www.realestate.com.au/property-other-nsw-kellyville-119089259" target="_blank">Ashmore Park</a> estate are 363 square metre to 847 square metre in size. 
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Kellyville leads Sydney in fastest residential building block price escalation in over a decade: APM

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Stamp duty on property conveyancing, insurance and motor vehicle sales should be scrapped and the goods and services tax (GST) lifted to make up any funding shortfall, accounting professional body CPA Australia has proposed.
<a href="/expert-insights/finance/how-stamp-duty-varies-state-by-state">Pressure has been mounting for changes to stamp duty</a>, which is charged when properties change hands, with representatives from various state branches of the Real Estate Institute, the Property Council of Australia and other industry commentators calling for the tax to be reviewed.
CPA Australia chief executive Alex Malley described stamp duty and taxes on property conveyancing, which often run to tens of thousands of dollars, as “inefficient and unpopular”.
He said modifications to the GST could raise enough revenue to allow government to eliminate the charges.
“Additional GST revenue can be used to abolish a number of inefficient state taxes and also provide for personal income tax cuts and compensation for low income households, while also boosting economic growth,” Malley said.
The accounting body commissioned KPMG to prepare a report comparing four scenarios involving changes to the base and rate of the GST, along with the removal of stamp duties.
Under the existing system, a 10% GST is applied to a wide range of products and services in Australia. Food, health and education are excluded.
One scenario looked at maintaining the level of the GST but extending it to include food, health and education. The report estimated an additional $12.1 billion could be raised in the first year through this course of action.
Another scenario examined retaining current exemptions while increasing the GST to 15%. This would raise an extra $26 billion, the report estimated.
A third case considered lifting the GST and extending it to cover health and education but not fresh food, which was reckoned to bring in $36.8 billion in extra revenue.
The final scenario involved increasing the GST to 15% and broadening its reach to include food, health and education. The modelling found this would raise $42.9 billion additional revenue.
“The additional revenue raised in each of the scenarios can be used to retire or reduce inefficient and unpopular taxes, including stamp duties on insurance, motor vehicles and conveyancing on residential and commercial properties,” Malley said.
“The modelling reveals that there is also sufficient revenue to return to households as income tax cuts or as compensation for low income households who would not benefit from changes in income taxes.
“The net outcome in all the reform scenarios we’ve looked at is that households across the income spectrum can be better off.”
Previous reviews of the taxation system have excluded the GST, which was introduced by the Howard government in 2000, more than 20 years after a consumption-based tax was first proposed for Australia.
{mijopolls 92}
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Raise the GST to abolish stamp duty: Accountancy group

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GUEST OBSERVATION
According to preliminary auction results, there were a reported 852 residential properties auctioned in Melbourne at the weekend, 76% or 494 of these selling.
Total auction volumes included 520 houses and 316 apartments, with clearance rates of 81% and 71% respectively. The balance of auctions consisted of vacant land sales.
The highly anticipated unofficial opening of Melbourne’s real estate auction calendar occurred at the weekend, and, as predicted by WBP’s property advisers, with as much ferocity as it closed in December last year.
The keen interest observed at open for inspections and the market’s handful of auctions in January and early February converted to participation at the weekend, with a multitude of bidders driving strong outcomes for many properties across Melbourne. And, the results are telling.
A clearance rate of 76% signifies over three quarters of vendors received an offer to purchase their property either equal to or exceeding their expectations. This demonstrates high confidence levels among both buyers and sellers – a factor that will continue to drive market performance until the Easter period, in the least, particularly following the RBA’s surprise cut to already record low interest rates earlier this month.
It’s interesting to note the consistency of performance across Melbourne’s metropolitan market. All residential markets, ranging from the city’s outer east to the west are clearing at rates higher than this same time last year. But still, Melbourne’s litmus suburbs experienced mixed results – Richmond showed a strong clearance rate, commanding strong prices for quality properties, while Reservoir cleared at lower rates with just half of auctioned properties transacting.
Other standout performer was St Kilda, due partly to a proportion of properties selling prior to auction. It’s not unusual for many properties to transact prior to auction in January and February amid concerns the market may not meet vendor price expectations prior to buyer interest peaking. This trend is likely to dissipate over coming weeks as markets heat up and vendors feel more at ease.
The Melbourne market has opened strongly overall, however, micro level analysis continues to demonstrate not all properties perform the same. Don’t rely heavily of macro property statistics when selecting a home or investment property. Instead, investigate the individual asset’s long-term performance as a gauge of future expectations.
Greville Pabst is CEO of <a href="https://www.google.com.au/url?sa=t&amp;rct=j&amp;q=&amp;esrc=s&amp;source=web&amp;cd=1&amp;ved=0CEAQFjAA&amp;url=http%3A%2F%2Fwww.wbpproperty.com%2F&amp;ei=Jb4hUevODOyamQX6mIGYDQ&amp;usg=AFQjCNH0u8Ji9ymluq8AKARfB-KjHZ-aFA&amp;sig2=DNsIKQR7tQj4PtYuiJOHPA&amp;bvm=bv.42553238,d.dGY" target="_blank" rel="nofollow">WBP Property Group.</a>
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Melbourne's auction season swings back into action with ferocity: Greville Pabst

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An incredibly strong auction weekend set the scene for a remarkable auction in Sydney’s north at the weekend, when a house in the suburb of North Epping, 19 kilometres from Sydney’s CBD, sold for nearly $200,000 above reserve.
A combination of the <a href="https://www.smartcompany.com.au/growth/economy/45528-what-does-the-rba-interest-rate-cut-mean-for-your-business" target="_blank">interest rate cut</a> and a greater volume of properties on offer saw the national clearance rate hit a high not seen since October 2009, according to RP Data Victorian housing market specialist Robert Larocca.
Twelve registered bidders pushed the price for the five-bedroom home at 9 Narelle Street, North Epping, to $1,616,000 – a whopping $191,000 above the reserve price, <a href="https://news.domain.com.au/domain/real-estate-news/epic-epping-auction-nets-seller-almost-200000-above-reserve-20150221-13l158">according to Domain</a>.  
A local couple made the winning bid after going head-to-head with a Chinese investor, according to the reports, who jumped the price by $1,000 increments over the phone.
Larocca said lower interest rates clearly had a connection to such outstanding results.
“That was the point [of lowering rates], in many respects. The Reserve Bank wanted people to open their wallets, or their bank loans, just a bit more,” says Larocca.
Larocca says if the market continues with such strength, we will likely see more exceptional results.
“But I think what’s more interesting is the overall national clearance. That speaks more about the market than those people who do get hundreds over their reserve,” he says.
The national clearance rate reached 77.7%, according to RP Data preliminary data, and Larocca says even if that is adjusted down, the result points to a very strong weekend.
“It was a remarkable outcome really,” says Larocca.
Sydney was again the country’s star performer, scoring an 87.8% clearance off 839 auctions.
It’s the third week in a row the Sydney market has delivered a result above 80%, but Larocca says this is not against the trend at this time last year.
Melbourne did not disappoint despite the higher volumes, logging a clearance rate of 74.9% off 1,049 homes sold under the hammer.
Even Brisbane delivered a stellar result of 68.9% off 113 auctions.
Larocca says the coming weekend will be “interesting” to watch, as the weekend before a long weekend brings even more properties on the market.
“It will be interesting now the momentum has built significantly. Seeing as it was admittedly a slow start to the year,” he says.
“Buyers are clearly back out,” Larocca adds.
This article first appeared on <a href="https://www.smartcompany.com.au/" target="_blank">SmartCompany</a>.
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