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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ANZ today announced that Mark Whelan will succeed Philip Chronican as CEO Australia reporting to chief executive officer Mike Smith.
Chronican, who joined the bank in 2009, intends pursuing a non-executive career following a 32-year career in banking.
Whelan is currently managing director global commercial banking and has been a member of the ANZ Management Board since October 2014. 
Previously at ANZ, Whelan was managing director commercial Australia and was formerly managing director institutional APEA based in Hong Kong where he was responsible for institutional, commercial and private banking across Asia Pacific, Europe and America.
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jchancellor-FAypfDUnLy

Mark Whelan to replace Philip Chronican at ANZ

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Frasers Centrepoint achieved a 55% surge in first-quarter profit from the corresponding period, after a boost from new contributions following the acquisition of Australand in Australia.
FCL reported the increase came primarily from contribution from Australand Property Group, which was acquired in August 2014.
Australand’s residential business received a boost from a significant level of completions at the Clemton Park and Discovery Point residential projects. 
For the three months ending 31 December, net profit totalled S$186.9 million (A$177.58 million), up from S$120.8 million (A$114.77 million) in the same period earlier, as revenue nearly doubled to S$1.07 billion (A$1.02 billion) from S$552.1 million (A$524.55 million), Frasers Centrepoint said.
<div>The listing of Frasers Hospitality Trust in July last year resulted in new income streams from the six hotels acquired by the trust from Thailand’s TCC Group, it said.</div>
Frasers Australand, comprising Australand that was acquired last August and Frasers Property Australia, almost doubled its year on year profit before interest and tax to S$127 million (A$120.66 million), mainly as a result of a significant level of completions at the Clemton Park and Discovery Point residential projects.
“This first quarter of FY14/15 marks the maiden full-quarter contribution from Australand, which has not only enlarged our income base but also enhanced the sustainability of our earnings through an increase in recurring income,” Frasers Centrepoint chief executive Lim Ee Seng said.
The Australian residential market continued to be strong, providing a positive environment for Frasers Australand’s planned release of around 1,500 dwellings over the remainder of the fiscal year.
Lim Ee Seng said it was important to continue to focus on the smooth integration of Australand into the group. 
Bob Johnston heads the combined Frasers Property Australia and Australand Property Group operations.
The report noted completion and settlement of over 750 apartments in 1Q FY14/15, including at two major residential projects – Clemton Park and Discovery Point
Released 658 land lots and apartments across five projects for sale in 1Q F14/15.
Frasers Australand, comprising Australand and Frasers Property Australia (“FPA”), recorded 156% and 99% year on year increases in revenue and PBIT to S$692 million (A$657.47 million) and S$127 million (A$120.66 million), respectively, in 1Q FY14/15.
Of these, Australand contributed S$568 million (A$539.66 million) in revenue and S$108 million (A$102.61 million) in PBIT mainly as a result of a significant level of completions at the Clemton Park and Discovery Point residential projects during the reporting quarter.
Gains from Australand were partially offset by lower contributions from FPA as sales at the One Central Park and Parklane projects in Sydney, which were completed in 2014, tapered off.
FPA’s lower revenue and PBIT in 1Q FY14/15 was also due to the absence of a one-off gain from the sale of an undeveloped site in the previous corresponding quarter. 
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Frasers Australand provides strong profit for Frasers Centrepoint

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Apartment number 18 at 85 Caroline Street in South Yarra - better known to the public as the apartment Josh and Charlotte renovated on The Block - was passed in at auction on the weekend.
<a href="https://www.domain.com.au/property/sold/apartment-unit-flat/vic/south-yarra/?adid=2011650147" target="_blank">The apartment</a>, owned by buyer advocate and upcoming Block judge Frank Valentic through his company Advantage Property Consulting on behalf of investor clients, was passed in at $390,000 and sold after auction for $445,000, according to Fairfax reports.
Valentic's company bought entire block of 18 one bedroom apartments at 85 Caroline Street – unrenovated – for $6.35 million in June last year, meaning that each apartment on average cost Valentic and his clients $352,778.
While apartment 18 is the first to sell after The Block renovations, it isn't the first to be offered to residents to live in.
Since the complex was purchased by Advantage Property Consulting (in December 2013, presumably settling in June 2014) half of the apartments have been listed to rent – some of which came with The Block makeovers, prior to the series even coming to air.
Here's how the apartments at 85 Caroline Street have paid off for investors:
<ul>
<li>2/85 Caroline Street:</li>
</ul>
The apartment renovated by Tim and Anastasia on The Block was advertised to rent on 4 December for $410 per week. It no longer appears on online rental listings, so has presumably been secured by a tenant. Taking an average price of $352,778, the apartment would yield 6.0% at $410 per week.
<ul>
<li>4/85 Caroline Street:</li>
</ul>
Advertised to rent at $380 per week in November 2014. Potential rental yield: 5.6%
<ul>
<li>6/85 Caroline Street:</li>
</ul>
Advertised to rent at $300 per week in November 2014. Potential rental yield: 5.6%
<ul>
<li>8/85 Caroline Street:</li>
</ul>
Advertised to rent at $350 per week in mid-July 2014. By the end of July, the asking rent had been adjusted to $290 per week. Potential rental yield: 4.2%
<ul>
<li>9/85 Caroline Street:</li>
</ul>
Advertised to rent at $390 per week in early December 2014. By 24 December, the asking rent had been lowered to $365 per week. Potential rental yield: 5.7%
<ul>
<li>11/85 Caroline Street:</li>
</ul>
Advertised to rent at $330 per week in November last year. Potential rental yield: 4.9%
<ul>
<li>13/85 Caroline Street:</li>
</ul>
Advertised to rent at $370 per week in October 2014. Potential rental yield: 5.4%
<ul>
<li>14/85 Caroline Street:</li>
</ul>
Advertised to rent at $360 per week in December 2014. Potential rental yield: 5.3%
<ul>
<li>17/85 Caroline Street:</li>
</ul>
The apartment made over by eliminated contestants Luke and Ebony is currently advertised to rent at <a href="https://www.domain.com.au/property/for-rent/apartment-unit-flat/vic/south-yarra/?adid=9563511" target="_blank">$400 per week on Domain</a>, though listed at<a href="https://www.realestate.com.au/property-apartment-vic-south+yarra-415048003" target="_blank"> $395 per week on realestate.com.au</a>. At $395 per week, it would yield 5.8%.
<ul>
<li>18/85 Caroline Street:</li>
</ul>
The apartment renovated by remaining contestants Josh and Charlotte. Passed in at auction and sold after auction for $445,000 - a gain of $92,222 or 26%, before taking into account renovation costs.
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jrichardson-uRX5hFdKfN

Curse of The Block? How the other Caroline Street apartments have performed

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Moonee Ponds had the weekend's top auction sale in Melbourne.
The $2.44 million trophy home - a simple Calirfornian bungalow at 26 Ardmillan Road - last sold at $915,000 in 2003.
The 1920s house came with 275 square metre one level space on its 805 square metre block.
It was renovated in 2004.
David Vaughan at Nelson Alexander secured the weekend sale having offered buyers a $2.2 million to $2.4 million price guidance.
The next highest was a likely knockdown house on a 1,736 square metre corner site at 112 Winmalee Road, Balwyn through Peter Dixon and William Chen of Jellis Craig.
A clearance rate of 74% was recorded on the Valentine's Day weekend compared to 65% last weekend and 70% the same weekend last year.
There were 458 auctions reported to the REIV, with 338 selling and 120 being passed in, 61 of those on a vendor bid.
TOP 5 HOUSES
<ol>
<li>26 Ardmillan Road, Moonee Ponds $2,440,000</li>
<li>5 Winmalee Road, Balwyn $2,344,000</li>
<li>6 James Street, Surrey Hills $2,218,000</li>
<li>38 Manning Road, Malvern East $2,115,000</li>
<li>37&amp;39 Bradley Street, Newport $1,850,000</li>
</ol>
TOP 5 BARGAIN HOUSES
<ol>
<li>24 Marie Street, Doveton $265,000</li>
<li>45 Middleton Drive, Woori Yallock $276,000</li>
<li>191 Werribee Street, Werribee $285,000</li>
<li>28 Piccolotto Drive, Melton West $315,000</li>
<li>20 Citronelle Circuit, Brookfield $330,000</li>
</ol>
TOP 5 APARTMENTS
<ol>
<li>1/721 Toorak Road, Malvern $1,620,000</li>
<li>36A Anne Street, Mckinnon $1,231,000</li>
<li>1/19-21 Ormond Esplanade, Elwood $1,230,000</li>
<li>17A Dickmann Street, Richmond $1,195,000</li>
<li>1B Hamilton Avenue, Blackburn $1,055,000</li>
</ol>
TOP 5 BARGAIN APARTMENTS
<ol>
<li>2/18 Third Avenue, Dandenong North $255,000</li>
<li>3/44 Type Street, Richmond $270,000</li>
<li>6/62 Snell Grove, Oak Park $290,000</li>
<li>340 Grand Boulevard, Craigieburn $310,000</li>
<li>9/52 Caroline Street, South Yarra $310,000</li>
</ol>
Source REIV
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Moonee Ponds tops Melbourne's Valentine's Day auctions

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GUEST OBSERVATION
With all of the growth that property in Sydney experienced last year, you would expect there to be a correction over the coming year. A halt, a significant slowdown, anything to balance out the growth that saw the New South Wales capital experience value growth far and away beyond any other capital city in the country.
However, it seem there may be more to come. For anyone who has bought investment property in Sydney or is thinking of doing so, the latest releases from several experts indicate that capital gains can still be made in droves in the Harbour City.
Boys cry wolf while Sydney carries on 
In the 27 January SQM Research newsletter from sterling commentator Louis Christopher, he put paid to those decrying the Sydney market and anticipating its failure.
"Sooner or later they will be right but right now, a slowdown currently happening in Sydney? Hardly," he wrote. He says he spent the entire Christmas period meeting and speaking with agents and industry experts, all of whom had a busy holiday period for property.
Christopher does not see property growth dropping below 8% this year, especially if the interest rates fall. And given the Real Estate Institute of Australia's enthusiasm for a cash rate cut from the RBA because of the Consumer Price Index, this may just happen.
However, Christopher doesn't expect heavy growth to go on forever. While the predicted downturn hasn't happened yet, it may still happen in the coming years. This suggests that the near future could still be a good time to engage a buyers' agent and make an investment in Sydney property, while there are still gains to be made.
Brisbane behind, but Sydney's growth unbeatable
According to the Domain Group Home Price Report for the December quarter, Sydney's median house price rose 4.1%, while the median unit price rose 2.9%. This brought the final annual growth figures for homes and apartments to 14.1 and 10.4% respectively, head and shoulders above the competition.
Andrew Wilson, senior economist with Domain also noted that Sydney shows no signs of stopping this growth. Wilson is forecasting growth of between 7% to 10% for 2015.  Sydney’s median house price is now $873,000 and median apartment price $597,000. 
Not all suburbs will experience significant growth.  While low interest rates continue to support strong borrowing activity, investors and home buyers need to be careful to look at the long term value of the property they are buying.  Look for suburbs where there are good transport options, excellent schools, close to shops and where there is limited potential for over-development.  Many suburbs in Sydney could be rezoned for higher density so you don’t want to buy in areas where there is any possibility of over-supply.
While increasing prices means great returns on dwelling investment, the flipside is that buying a property becomes more expensive. 
Rich Harvey is an economist, investor and the CEO and founder of buyer's agency <a href="https://www.propertybuyer.com.au%20" target="_blank">Propertybuyer</a>.
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rharvey-JMQneTqnM9

Is Sydney really still going strong?

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GUEST OBSERVATION
Prime Minister Tony Abbott <a href="https://www.pm.gov.au/media/2015-02-11/government-tightens-rules-foreign-purchases-agricultural-land" target="_blank">has announced</a> long-promised changes to the rules for foreign land purchases and ownership in Australia.
There are two key changes. First, the Foreign Investment Review Board (FIRB) threshold will be reduced from A$252 million to A$15 million and be applied to cumulative purchases. Second, the Australian Taxation Office (ATO) will be tasked with creating a “stocktake” of foreign-owned agricultural land, which may lead to a national register.
Media reports of last week’s announcement have largely focused on the merits of lowering the FIRB’s screening threshold. But the foreign-owned land stocktake and register should be equally scrutinised.
Spearheaded by high-profile land (and water) sales to non-Australians, such as <a href="https://www.propertyobserver.com.au/https://www.abc.net.au/news/2012-10-12/sale-of-cubbie-station-confirmed/4310256" target="_blank">Cubbie Station</a>, the issue of foreign investment in agriculture has generated much discussion in recent years. Central to this sensitive issue is that no one knows exactly how much agricultural land foreign companies and governments own. And while there is uncertainty, the public debate seems locked to a dualism between “we are selling the family farm” and “overseas capital can only benefit agriculture”.
<a href="https://theconversation.com/lost-in-the-paddock-australia-flying-blind-on-farm-ownership-23836" target="_blank">Last year,</a> my colleague and I called for better national data sets that clearly document who owns agricultural land and at what rate it is changing hands. A land register documenting foreign ownership of agricultural land would likely address this data deficiency, but only partially.
Details of what the ATO will produce are yet to be delivered. But, it seems the ATO will start to record new foreign land purchases from 1 July 2015 (irrespective of value). This may then be matched with the development of a national foreign-owned land register that draws on the land titles registers kept by state and territory governments.
It’s not just about land
So far, media reports indicate the register will be focused on land. But what about investment in agricultural businesses separate from direct investment in land? In the most recent <a href="https://www.abs.gov.au/AUSSTATS/abs@.nsf/allprimarymainfeatures/32E9BB779DABA3C1CA257905001453BC?opendocument" target="_blank">Agricultural Land and Water Ownership survey</a>, the Australian Bureau of Statistics reported that almost 90% of farmland was fully Australian owned and just under 99% of farm businesses were fully Australian owned.
Although that survey was <a href="https://parlinfo.aph.gov.au/parlInfo/search/display/display.w3p;query=Id%3A%22committees%2Fcommsen%2Ff49f61d7-23de-4f6f-b807-735c752ebcfa%2F0002%22" target="_blank">widely criticised</a>, the distinction remains important if efforts to document foreign land ownership are to prove as useful as possible. This is because although land ownership and the ownership of farm operations may or may not align, each is shaped by the other.
So, a register of foreign-owned land addresses only part of the huge data deficiencies related to foreign investment in the Australian farming sector. Despite the difficulties of untangling business structures, the ATO is perhaps best placed to align data collection and reporting on foreign ownership of both agricultural businesses and land.
What about water?
Australia’s water market and the legal separation of land and water titles further complicate the issue. It’s unclear whether a comparable register for foreign water ownership will be part of the ATO’s mandate.
Questions about who owns water access rights and at what rate they are changing hands are equally – or perhaps more – significant. This is especially in light of the Australian Bureau of Statistics’ results that showed agricultural water entitlements with some degree of foreign ownership increased by <a href="https://www.abs.gov.au/AUSSTATS/abs@.nsf/allprimarymainfeatures/32E9BB779DABA3C1CA257905001453BC?opendocument" target="_blank">55% between 2010 and 2013</a>. In contrast, Australian land with some degree of foreign ownership remained largely unchanged.
Like land, the state and territory governments manage their water registers, so similar integration between the state/territory systems and any national register would be required.
It’s time to broaden the debate
The debate about foreign ownership of agricultural land and the means used to document it need to be broadened.
Whether it’s ownership of land, water or agricultural businesses, non-Australian sources of capital are only part of the picture. The foreign ownership debate needs to evolve to – or be merged with – a broader debate about the future of the agricultural sector.
Too often the future of agriculture is reduced to a binary logic of <a href="https://theconversation.com/who-will-be-the-next-round-of-investors-in-australian-farming-23773" target="_blank">family farmers and corporate farms</a>. However, the reality is there are many different ways to organise agricultural business and production.
Foreign investment is only one of the drivers of change. Australian institutional investment or private equity partnerships and their relationships with land and water ownership are also shaping the agricultural sector and rural communities. How these alternative business models may be changing will slip through the gaps of any land register focused exclusively on foreign ownership.
More data will not resolve the issue of foreign ownership. It also won’t magically set the future direction of agriculture. But, good data sets that capture the full spectrum of agricultural business and asset ownership models can better inform these debates.
If the ATO stocktake of foreign-owned land becomes a formal register, the prime minister’s announcement is a positive step. But it doesn’t go far enough. It’s time to move beyond the foreign- versus Australian-owned dichotomy. Expanding a national foreign-owned land register to include other agricultural assets and ownership changes among domestic investors will enable more informed discussion on what Australians really value about economic development, land and water resources and food production.
<img src="https://counter.theconversation.edu.au/content/37517/count.gif" alt="The Conversation" width="1" height="1">Erin Smith is post-doctoral research fellow at University of the Sunshine Coast.
This article was originally published on <a href="https://theconversation.com">The Conversation</a>.
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ErinSmith-E4pdY7HUvR

Land ownership just the start in foreign investment debate

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GUEST OBSERVATION
I was reminded recently of an article I read about a jewellery store that chose not to display any of its prices. Buyers would stop, see a piece they liked and enter the store where the assistant would then be in a position to ‘sell’ the value. Or so the theory goes.
This scenario came into play for me recently when I was selling my house. On the advice of my real estate agent we elected to not include a price range for buyers, banking on the proposition that those interested enough would come to the property, fall in love with it and then be sounded out about what they would be willing to pay.
In behavioural terms, we are talking about the absence of a <a href="https://www.smartcompany.com.au/people/education/29921-the-price-is-stuck-shifting-the-price-anchor" target="_blank">price anchor</a>. In other words, not fixating people on a price point in the hope this unnerve and emotion will encourage them to offer more than you were hoping.
This strategy appeals to those who want to ‘control’ the value assessment discussion rather than defend against a low pitch. However, there are some risks with this play.
<ol>
<li>
People simply don’t engage I typically walk past jewellery shops that don’t display pricing because I want to avoid the power imbalance between the shop assistant and me. I don’t want to be embarrassed if the item I might fancy is out of my range. 
</li>
<li>
You create an information vacuum that they will fill somehow If you don’t provide it, buyers will look for the nearest comparable item against which to estimate price, so you’d do well to anticipate what that might be. In my case, a house very similar to mine had sold below expectation about six months prior. This caused an issue because people naturally used that price as a proxy for mine even though there were significant, albeit subtle, differences between the properties. This led to many prospective buyers being ‘anchored’ to the low value and meant my property was at risk of being passed in at auction. Thankfully my agent was able to overcome this during negotiations, but only because the eventual buyer had fallen in love with the house. Next time around I would insist a price range be specified to avoid this anchoring-by-proxy problem. 
</li>
<li>
You don’t filter your buyers By not providing pricing cues, the jewellery shop may well have had curious shoppers come in and talk with the assistant. But what good is that if they can’t afford the item? You’ve just swallowed up precious staff time. Likewise, attracting property buyers who are well out of range might generate a crowd on auction day but it’s no good if they are priced out of bidding. This wastes everyone’s time and is one of the pet irritations home buyers have.
</li>
</ol>
Should you list prices?
Your decision about whether to list prices and price ranges ultimately rests on your uniqueness in the market (i.e. whether and what will serve as proxy) and how you best want to use your sales staff.  
This is how I would approach it:
<ul>
<li>If I am the jewellery store, I might not list all prices but I would certainly include a few to help people get a feel for the price range. (In fact, this is what I do on my website – I list some services but not others that require a briefing.) 
</li>
<li>If I’m selling a house that has comparable properties that have sold well, I would not list a range because the market has created a favourable expectation amongst buyers. 
</li>
<li>If I’m selling a house that has comparable properties that have not sold well, I would definitely include a range to signal my differentiation and make buyers curious about why mine is worth more.</li>
</ul>
If I am selling a house without comparable properties, I would either not list a range and leave the discussion to those who viewed the property, or – if I needed to filter out ‘tyre kickers’ – list a vague starting price that signalled that only offers above that range would be considered.
Bri Williams runs <a href="https://www.peoplepattern.com/" target="_blank">People Patterns,</a> a consultancy specialising in the application of behavioural economics to everyday business issues.
This article first appeared on <a href="https://www.smartcompany.com.au/" target="_blank">SmartCompany</a>.
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BriWilliams-65XoyMd4Md

Should you list your prices?

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The ABS released its <a href="https://www.abs.gov.au/AUSSTATS/abs@.nsf/Lookup/5671.0Main+Features1Dec%202014?OpenDocument" target="_blank" style="font-size: 12.1599998474121px; line-height: 1.3em;">Lending Finance</a> data for the month of December, and the figures were a neat microcosm of the challenges facing the Reserve Bank of Australia. 
Commercial finance - a data series of which property investor loans are a subset - fell by another 2.9% in December and the trend has now moved beyond its November peak, with the trend in total lending looking increasingly weak.
Yet as we saw <a href="https://petewargent.blogspot.com.au/2015/02/housing-finance-straps-on-jet-pack" target="_blank">earlier in the week</a>, we know that owner-occupier housing lending had begun to pick up again, even prior to the February rate cut.
<img src="https://3.bp.blogspot.com/-xTRQNODakoc/VN3BJcOB5YI/AAAAAAAATHo/ZRrhvaa5jkQ/s1600/investor1.jpg">
And it was the dramatic pre-rate cut <a href="https://petewargent.blogspot.com.au/2015/02/housing-finance-straps-on-jet-pack" target="_blank">6% surge</a> in investor lending which really caught the eye, with investor lending surging by a massive 24.6% higher on a rolling annual basis over the past 12 months.
<img src="https://4.bp.blogspot.com/-e2ZnpHK7Kfc/VNrNgQSSKgI/AAAAAAAATDQ/Ewma_NojTxo/s640/HF2.jpg">
The detailed investment lending figures are hidden within the data above. Let's take a look to see where property investors are buying.
Sydney goes parabolic The Lending Finance data tells us where the investment loans are being written - in a word, Sydney.
And how! An extraordinary $5.7 billion of New South Wales lending in December was yet another all-time record month of lending, easily eclipsing the record $5.26 billion state record set in November (which itself beat records set in September and October respectively). This comes off the back of New South Wales owner-occupier commitments which ripped through a state <a href="https://petewargent.blogspot.com.au/2015/02/housing-finance-straps-on-jet-pack" target="_blank">record $6 billion</a> in the same month.
The accelerating rate of investor growth is the really astonishing point of note - another 8% surge even before interest rates were cut again suggests that the annualised lending volumes for New South Wales could now be anything...perhaps heading towards $65 billion or even $70 billion plus.
This is both extraordinary and unprecedented. Throw in the increasing weight of foreign capital as the Australian dollar depreciates and the inner Sydney housing market could be in for a blockbuster 15 months.
<img src="https://2.bp.blogspot.com/-WdOgEKF7_Hc/VN3BHX-6X_I/AAAAAAAATHs/ctzwK3pzKDs/s1600/Investor%2Bloans.jpg">
While this has already led to a predictable bout of "property bubble" hysteria, it is worth noting here that there has been no such surge in investor lending in South Australia (Louis Christopher of SQM Research described the Adelaide market as "dead as a door nail" - a touch harsh perhaps, but there's certainly no boom apparent), the Northern Territory, Tasmania or the Australian Capital Territory where prices are falling. Meanwhile the burst of activity in Western Australia is now clearly tapering off.
The <a href="https://petewargent.blogspot.com.au/2015/02/housing-finance-straps-on-jet-pack" target="_blank">housing finance</a> and lending finance data series do suggest that the Melbourne market appears to be having something of a second wind - but high volumes of construction and a material stock overhang should help act to keep a lid on dwelling price growth in the Victorian capital henceforth.
Sydney to boom - all bets are off, but for how long?
What is unfolding in Sydney is now a law unto itself - albeit not surprising to long-term readers of this blog - due to inner Sydney's inherent undersupply of dwellings which has allowed rents to rise in concert with prices, a dynamic which simply wouldn't have existed without an undersupply. Preliminary auction clearance rates on Saturday of a massive 83.3% reported suggest that a red hot Sydney market has kicked off once again in 2015. The monthly level of investor lending in this seasonal series is now incredibly more than 2.5 times the volumes we were seeing only 3 years ago, and still rising fast.
<img src="https://3.bp.blogspot.com/-kS-MNC7RSXA/VN3BHggxj9I/AAAAAAAATHY/ASCoIH0viGs/s1600/Investorsloans2.jpg"> It is imperative that those buying in the harbour city have a clear understanding of which suburbs have already blown off (cf. the inner west in particular) and which have yet to kick forward so materially in this cycle.
Buyers should also consider forthcoming transport and infrastructure links which will be key market drivers over the next five years.
Market defies gloomers
Not only have prices not crashed, activity in the market appears to be accelerating - how did Sydney's housing bears get it so unfathomably wrong?
On balance, the main reason is likely that they neglected to note the chronic undersupply of dwellings in inner Sydney caused by the best part of a decade of under-building, which only now is being addressed by <a href="https://petewargent.blogspot.com.au/2015/01/building-approvals-hit-record-high-we" target="_blank">record high unit approvals</a>.
Even in 2014 median apartment rents continued to increase by another 3.85 to 4.3% depending on your data source.
The median unit price in Sydney at the end of Q4 2014 was around $606,500, with median apartment rents of around $540/week implying gross yields of approximately 4.6%.
Vacancy rates in inner Sydney are <a href="https://www.reinsw.com.au/imis15_prod/web/Posts/Media_Releases/201412/MR_Sydney_residential_vacancy_rates_remain_low_APRA_findings_unfounded.aspx" target="_blank">still only around 1.5%</a> (despite the onset of an apartment construction boom with <a href="https://petewargent.blogspot.com.au/2015/01/record-high-for-dwelling-commencements" target="_blank">all-time record home starts</a>) which is a veritable world away from the elevated <a href="https://petewargent.blogspot.com.au/2014/04/vacancy-rates-tighten-further" target="_blank">vacancy rates which helped to pull up stumps on the preceding boom</a> in 2004.
Article continues on the next page. Please click below.
<hr class="system-pagebreak">
How much longer will this boom run?
One thing that we can now say with 100% certainty is that high interest rates will not be responsible for calling time on this property boom.
Just as in 2003/4 this market boom may simply have to die of "old age" when gross yields fall to unacceptably low levels, perhaps with vacancy rates rising significantly helping to drag down rents.
How low investors will be prepared to bid gross yields is unknown for we are now into uncharted territory, both in terms of the volume of loan approvals and in terms of mortgage rates.
By way of comparison the cash rate in December 2003 was hiked by 25bps to 5.25% - today the cash rate is just 2.25% with a 71% chance of it being cut by 25bps to only 2% as soon as 3 March.
Futures markets see a 2% cash rate this calendar year as getting close to a stone dead certainty.
<img src="https://1.bp.blogspot.com/-qWN-NRzeFA8/VN8Sx8UlcsI/AAAAAAAATIg/1jIH5gy08Xc/s1600/RBA1111.jpg"> 
 Consider a stylised example within which median apartment rents were to increase by another ~4% over the next five quarters to $560 per week. If this seemingly endless supply of investors was prepared to bid gross yields 0.5% lower - broadly reflecting expected shifts in the cost of borrowing - all the way down to 4.1%, then this simple model implies that the median apartment price would soar by another 17% or more than $100,000 to above $700,000 - which is a frankly terrifying prospect for first homebuyers.  Could this happen? With five year fixed rate mortgages available from under 4.7%, three year fixed rates from under 4.3% and 1 year fixed rates even advertised with a 3 handle, it is far from inconceivable, particularly with February's rate cut already adding further fuel to the fire. Whether or not this plays out will now be decided by how quickly apartment completions come online and whether APRA intervenes directly in the mortgage lending market.
Queensland 
Investor activity is also robust in Queensland, although commentators will in all likelihood be wrong-footed by this year's data for the Sunshine State.
While property viewings in the inner suburbs of Brisbane are increasingly crawling with interested buyers, this will be offset by a number of regions within which property markets are in a significant decline, particularly certain mining towns and regions impacted by the collapse in coal prices.
On the ground we are clearly seeing more and more evidence of interstate investor activity and buyers agents at work in inner Brisbane suburbs (as well as hearing of the same from agents with raised eyebrows).
<img src="https://1.bp.blogspot.com/-xwyjXfsgXnE/VN3BHj6frAI/AAAAAAAATHc/-E49cnxE3Dc/s1600/Investors3.jpg">
Queensland - affordable markets
While on the face of it the level of housing affordability is what causes our housing markets to ebb and flow, it's as likely to be demographic shifts, labour force trends, dwelling supply, the cost of borrowing and the availability of credit in Australia which drives property market movements. 
The unemployment rate has been at a historically low level but has been rising steadily through 2013 and 2014.
The issue of affordability is an ongoing one, and being an emotive issue, the dynamics of how housing markets actually work in practice are often not considered.
The great paradox of today's rising asset prices is that the prevailing low interest rate environment has improved affordability considerably for existing homeowners but made bridging the deposit gap correspondingly more challenging for first-time buyers as market entry prices rise.
Older hom eowners often come to me expressing wide-eyed surprise at the level of their surplus income, the driver of which has clearly been the structural shift to low inflation and lower interest rates over the past 25 years. 
Article continues on the next page. Please click below. 
<hr class="system-pagebreak">
Multiples of income The way in which housing markets from different countries are compared to each other is most often by taking the median price of a house and dividing it by an average measure of household income to produce a multiple. Looking at how long it would take to pay off an average house with an average income is a handy shortcut measure of housing affordability and a very easy means of comparison.
However this is not how capital city housing markets work in reality, since it flatly ignores the role of the cost of debt and the differing financial situations and stages of life that buyers and owners of property are in.
This widely favoured methodology fails to consider mortgage repayments - a housing market where prices are a lower multiple of incomes yet has mortgage rates of above 15% may still not necessarily be an affordable market.
In other words, the multiple of incomes method works on the flawed assumption that everyone is a first home buyer with a 80-100% loan.
There are essentially four different types of buyer, and issues of affordability affect each of them differently.
1 - No finance
The percentages fluctuate each year, by city, by state and by region, but between a quarter and a third of properties tend to be bought with no financing.
How so? Well, there are some lucky folk whose parents buy their homes for them, but most often this happens due to the sale of an existing home. Empty-nesters and downsizers form part of this phenomenon.
Other older buyers who are mortgage free opt to move to a similarly-sized home and thus require no debt financing.
The Reserve Bank's financial aggregates <a href="https://petewargent.blogspot.com.au/2015/01/strongest-credit-growth-since-2009" target="_blank">show that</a> Australia has approaching $1.5 trillion of outstanding housing credit, with the split allocated as 34.3% investors and 65.7% owner-occupiers. <img src="https://4.bp.blogspot.com/-hqJMoJFPS8U/VMtgAm0WtPI/AAAAAAAASw8/MInuRZXGuJE/s640/RBA2.jpg"> Yet even the sum total of all forms of household debt is comfortably dwarfed by the huge value of Australia's 9,448,300 dwellings <a href="https://petewargent.blogspot.com.au/2015/02/sydney-and-brisbane-lead-dwelling-price" target="_blank">as estimated by the</a><a href="https://petewargent.blogspot.com.au/2015/02/sydney-and-brisbane-lead-dwelling-price" target="_blank"> Australian Bureau of Statistics</a> at a massive $5.4 trillion.
Cash buyers are affected little by rising or falling interest rates, and often they remain unaffected by the base value of housing, since the asset which they are selling may rise in tandem with the asset they opt to buy.
2 - Investors
As our capital city housing markets mature and the population expands largely through immigration, it is expected that the number of properties owned by investors will also increase.
Australian Finance Group (AFG) consistently recorded that around 40% of loans written in Queensland in 2014 were for investors. In cities such as Sydney around half of loans presently written are investment loans.
Australia-wide one of the gauges or indicators over time of how much property is bought by investors is the rate of home ownership, which seems likely to slide in the decades ahead.
With some investors choosing to own multiple properties, investors tend to comprise a significant%age of capital city property purchases.
Affordability is not really an issue for most investors in the prevailing low interest rate environment, since rental income pays the bulk (if not all) of the mortgage, while there are tax deductions available for on-paper losses.
In Brisbane gross yields on apartments can be as high as 5.5%, although in some suburbs vacancy rates are clearly significant and unit rents may well ease in time as supply comes online.
Investors generally elect to buy property at times when rental yields are acceptable as compared to other available investments and in regions where they expect to see capital growth. Most property investors are looking for locations where the population is expected to grow over time and therefore they have been very heavily focused on capital cities such as the inner suburbs of Sydney, Melbourne, and next up, Brisbane. 
3 - Existing mortgagors
Again, the percentages fluctuate each year and by state, but around a third of the market of property buyers tend to be existing mortgagors who have equity in their home.
So the issue for these buyers of affordability is largely governed by interest rates and the price gap between the property they own and the one which they want to own.
Note therefore, that housing affordability for these buyers is correspondingly unrelated to the base value of their existing property, and is instead much driven by their own aspirations.
4 - First home buyers
The remaining 14% or so of property buyers are first home buyers according to the ABS (AFG has still not amended its reporting mechanisms which are recording first home buyers in Queensland at a nonsensical 3.7% of loans written), which is the one sector of the market for whom repayments versus household income is a genuinely important measure.
For this sector of the market the challenges to be overcome include the deposit gap and whether mortgage repayments can be well covered in the event of future interest rate hikes.
The first home buyer demographic which has access to a deposit and mortgage finance is driven by another equation: the cost of renting versus the expected mortgage repayments - which have plummeted - if a home is purchased.
The Wrap
The statistics show that housing affordability in Brisbane is relatively good for the majority of buyers since mortgage rates are now at previously unthinkably cheap levels.
In inflation-adjusted terms Brisbane prices are 13% below their March 2008 peak, so it would be no surprise in the current low interest rate environment to see median dwelling prices rise by 15 to 20% over the next three years.
That said, there are a great many new apartment developments coming online in the suburbs discussed on my blog previously, so price growth in generic unit stock is likely to be weaker. 
How long Sydney's boom will run for is anybody's guess, but it seems that only regulatory intervention will deter investors now. 
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 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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pwargent-M4siyDbqQY

Sydney investor activity turning parabolic - how long will the boom times run?

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Australia’s largest pension fund AustralianSuper has reportedly agreed to buy a 20% stake in King’s Cross Central for £200 million (A$396m) London.
AustralianSuper beat off competition from overseas sovereign wealth funds from the Middle East and investment groups in the Far East, Property Week revealed.
AustralianSuper has more than two million members and over $75 billion under management.
It is the second UK deal in two years following its purchase of a 50% stake in the Milton Keynes regional shopping centre for £270 million in 2013.
At 67 acres, King’s Cross Central is a large mixed-use development being developed since 2001.
On completion it will include Google’s new European head office. Argent, DHL and London and Continental Railways appointed Rothschild and GM Real Estate to sell the stake in late 2014, and it is believed the deal was agreed in the past few days.
Last year AustralianSuper signalled its intention to aggressively build a $10 billion property portfolio by 2016.
AustralianSuper head of property Jack McGougan currently manages just over $6 billion of real estate ­investments.
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AustralianSuper's $400 million King Cross, London deal

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The Blacktown, Sydney vendor - who advertised a $1 reserve price ahead of today's auction - secured $565,000 on his investment property.
Vendor Neil Tyagi purchased the four bedroom 1960s Blacktown home 11 years ago, for $310,000 in November 2004, reflecting 6% annual price growth.
It was $5000 more than what he wanted - $560,000 - when it was initially listed unsuccessfully in early November last year.
The opening bid was, no surprise, $1, then jumping to $30.
The eventual buyer first bid at $400,000. There were 35 registered parties, with around 14 managing a bid, in what proved to be a marketing masterstroke by the relieved selling agent Raj Bhandari who said he didn't want a "textbook auction."
With 384 of the results reported, Domain Group's APM put the preliminary clearance rate at a strong 83.2 per cent, up from the revised 81.2 percent of the prior Saturday.  The Blacktown suburb's median house price sits at $537,000, <a href="/news">according to CoreLogic RP Data</a>, up 3.8% annually on the $355,000 median in 2004, so an above trend growth price was secured at the auction.
"It is a high risk," the agent proffered about the stunt, adding he hoped there would be over 100 in attendance.
The taxi business owner and vendor Neil Tyagi suggested the $1 reserve was intended to inject some fun back into auctions, although the NSW Fair Trading sent a stern letter advising it must be sold.
"Buying a property should be fun. I wanted to do something different, and I've never heard of a property setting a $1 reserve. Sydney home buyers attend so many boring textbook auctions. I want the auction of my home to have a lively, exciting atmosphere that everyone will enjoy and remember – not just the lucky buyers on the day," he said.
Starr Partners Fairfield auctioned the property.
Agent Raj Bhandari throught "with a reserve of just $1, bidding on the day is likely to start out low and pick up quickly."
"We are confident with our marketing and sales strategies and know that there will be plenty of competition on the day to help the vendor achieve an optimum result," he said pre-auction.
Some industry players suggested the $1 dollar disclosed reserve was underquoting to get buyers in, which Raj Bhandari said misrepresented the listing motive. Other suggested unless surrendered, it was possible despite the reserve, for the vendor to place a vendor bid at a price that could see the property passed in.
"This is the first time in NSW that the home is going to auction with a $1 reserve," Raj Bhandari said.
"It means that after the first bid of $1.00 the home will be out of the hands of the vendors and into the hands of the bidders.
"The home will sell to the highest bidder on the day, no ifs no buts."
At busy <a href="https://www.realestateview.com.au/Real-Estate/230-blacktown-road-blacktown/Property-Details-buy-residential-8224634" target="_blank" style="line-height: 1.3em;">230 Blacktown Road</a> has four bedrooms and two bathrooms, with a double garage, and is set on a 571 square metre block.
The property is currently rented at $440 per week. It was first available for rent at $425 a week in late 2012.
A nearby three bedroom brick house on 575 square metres fetched $568,000 late last year.
Its late 2004 purchase price came as the Sydney boom was flagging out west, it having been listed at $395,000 in early 2004.
The 2004 listing agent Con Koulendianos advised Property Observer it was a "pretty flat time."
"Prices had hit a wall and didn't really recover until 2009," he said.
Now selling at Rouse Hill, he said many Blacktown vendors have relocated there over recent years. The current vendors have relocated to Quakers Hill.
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