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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Former Victorian government planning minister and AFL footballer Justin Madden has joined engineering consultancy Arup's Melbourne office as a senior consultant.
 "Justin brings with him significant experience and understanding of theareas of strategic project delivery and planning for major infrastructureand building projects," Arup's Melbourne office leader Joseph Correnza told Fairfax Media.
Based in Victoria, Madden's focus includes the ongoing development of the local built environment, working with public and private sector clients in helping deliver their project outcomes. 
Madden's career includes 15 years in the Victorian Parliament, having held seven ministerial portfolios within successive Victorian labor governments across 11 years. Prior to his parliamentary career, Madden held the role of president of the AFL Players Association during an AFL career totalling 332 AFL games with both Carlton and Essendon football clubs. 
Madden is also a registered architect.
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Architect Justin Madden joins Arup engineering consultancy

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Two of Melbourne’s leading commercial agencies - Teska Carson and Kliger Wood - have merged businesses.
The agencies have a combined 100 years experience in the Melbourne market, Kliger Wood having been founded in 1938 and Teska Carson 25 years ago.
The new entity will have management of several thousand Melbourne rental properties.
Teska Carson founding director, Ion Teska said its personalised, hands-on approach for its clients would continue.
Kliger Wood’s managing Director, Barry Novy noted the similarities in client base and professional approach. 
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Teska Carson and Kliger Wood agencies merge in Melbourne

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Louis Chrisopher, SQM Research's managing director, had the most bullish Sydney 2014 forecast.
In late 2013, Christopher predicted that Sydney's prices would rise <a href="/expert-insights/buying/sydney-to-jump-up-15-20-act-to-fall">15%-20% over the 2014 calendar year</a>.
While prices weren't that strong, he was closest to the pin, now that the annual figure are in.
Other experts were notably more subdued, with many tipping that prices would slow significantly in 2014: Domain Group senior economist Andrew Wilson and Property Observer's <a href="/news/slowing-home-price-growth-sydneys-tentative-early-2014-capital-city-trend">Jonathan Chancellor</a> both predicted 2013's growth would halve to around 7%. Observer Pete Wargent tipped Sydney prices to increase by 6% to 9%. McGrath Estate Agent founder John McGrath <a href="/expert-insights/buying/john-mcgrath-lowers-his-2014-sydney-forecast-to-5-8-price-growth">downgraded his 2014 Sydney forecast </a>from 10% to 5-8% in June.
We now know that Sydney recorded around 12.4% price growth in 2014 across all dwellings, according to CoreLogic RP Data. House prices were up 13.4% to $858,000, while unit prices increased by 8.3% over the year to $615,000.
The median house price for Sydney is now $873,786, after a 14% rise in prices during 2014, according to Fairfax's The Domain Group.
Christopher's confidence in the Sydney market remains, particularly given the Reserve Bank's February announcement that it would cut rates by 25 basis points to a record low of 2.25%.
"We believe Tuesday's interest rate cut will further stimulate the Sydney housing market through the full calendar year 2015," Christopher told Property Observer.
"Our forecast for this current year, made back in September 2014, would be a rise of between 8-12%.
"This assumed a stable interest rate environment. With this rate cut we believe the market will now likely increase by the upper end of this range.
"Sydney on top of the 30% gains we have had since the start of 2013 will mean the market may well be up by over 50% in Sydney in just three years."
His price prediction is once again more bullish than those made by many of his contemporaries. Wilson this year has forecast 7-10% growth, while NAB's Residential Property Survey respondents predict 4.1% gains. Wargent has pitched his forecast slightly lower than last year, this time predicting <a href="https://petewargent.blogspot.com.au/2014/12/2015-capital-city-property-market" target="_blank">5-8% price growth in 2015</a>.
Whether yesterday's rate cut will cause experts to revise their forecasts remains to be seen. Meanwhile, the <a href="https://www.sqmresearch.com.au/" target="_blank">SQM Research</a> founder's confidence is not reserved for just the Sydney market:
"We are also rather bullish now on holiday locations on the east coast of Australia given that the lower Australian Dollar should further assist local tourism economies," Christopher said.
 {mijopolls 86}
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Bullish Louis Christopher forecasts strong gains for Sydney in 2015

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GUEST OBSERVATION
Ever since commodity prices and the mining investment boom peaked three or four years ago there has been a constant chorus of doom regarding the Australian economy: the reversal of the mining boom will knock the economy into recession, house prices will crash and banks will tumble.
This view was particularly prevalent amongst foreign commentators who seemed to think that resource extraction was the only thing Australians do.
While this tale of doom has not happened, the economy has been a bit lacklustre: growth has been sub-par, wages growth has fallen to record lows, unemployment has drifted up and confidence readings have remained poor.
Against this background, the RBA has rightly cut interest rates again.
Interest rates and the economy
There are good reasons for the RBA to be cutting rates further:
<ul class="link-list">
<li>Growth is too low, running at around 2.75% through last year, which is well below potential (of around 3-3.25%) and the level needed to prevent a rise in unemployment. 
</li>
<li>Confidence is subdued, having well and truly given up the post 2013 Federal election boost.</li>
</ul>
<img src="https://www.ampcapital.com/AMPCapitalGlobal/media/contents/Blog/olivers-insights/2015/February/4/chart-1.PNG" alt="Confidence remains subdued">
Source: Bloomberg, AMP Capital
Partly reflecting this, consumers have started to become more focused on paying down debt again, which is a sign of increasing caution and will threaten spending if sustained.
<img src="https://www.ampcapital.com/AMPCapitalGlobal/media/contents/Blog/olivers-insights/2015/February/4/chart-2.PNG" alt="Australia's becoming a bit more cautious again">
Source: Westpac/Melbourne Institute, AMP Capital
<ul class="link-list">
<li>Prices for iron ore and energy have collapsed resulting in a bigger hit to national income than expected a year ago.</li>
</ul>
 
<img src="https://www.ampcapital.com/AMPCapitalGlobal/media/contents/Blog/olivers-insights/2015/February/4/chart-3.PNG" alt="Iron ore and the terms of trade has fallen more than expected">
Source: Bloomberg, AMP Capital
<ul class="link-list">
<li>Outside the US the predominant trend globally is still towards monetary easing and this is putting pressure on the RBA. Massive quantitative easing programs in Europe and Japan are forcing smaller countries to ease unless they want to see their currencies go higher. This should really be characterised as “easing wars” as opposed to “currency wars”. To the extent it is forcing monetary easing around the world, it adds to confidence that sustained deflation can be avoided. Australia is not immune. As the RBA wanted to see a continued broad based decline in the value of the $A it had to re-join the easing party lest the Australian dollar rebounded. Our interest rates are still high globally. 
</li>
<li>Finally, benign inflation provides flexibility for the RBA.</li>
</ul>
The main risk in cutting rates again is that it further inflates the residential property market. However, strong property price gains are largely concentrated in Sydney and the RBA sees this as more of an issue for the prudential regulator, APRA.
Overall, we see the RBA’s cut as justified and, given that there is rarely just one move, we expect another 0.25% cut taking the cash rate to 2% in the months ahead.
Reasons for optimism
However, it’s not that I am bearish on the economy. Rather it makes sense for the RBA to be taking out some insurance to make sure growth holds up and improves. There are several reasons for optimism that growth will improve:
<ul class="link-list">
<li>Borrowing rates are at generational lows. This is bad for bank depositors but the latest rate cut will save someone with a $300,000 mortgage roughly an additional $15 a week. In total Australian households have $850 billion in bank deposits but owe $2,050 billion in debt so the household sector is a net beneficiary of lower interest rates.</li>
</ul>
<img src="https://www.ampcapital.com/AMPCapitalGlobal/media/contents/Blog/olivers-insights/2015/February/4/chart-4.PNG" alt="Record or near record low interest rates">
Source: RBA, Bloomberg, AMP Capital
<ul class="link-list">
<li>The fall in the Australian dollar is removing a major drag on growth. It needs to go down some more but this is very positive for sectors such as manufacturing, tourism, higher education, services, farming and mining. 
</li>
<li>The collapse in oil prices has delivered huge savings to businesses and households. If petrol prices hold around current levels it means the average household will save around $19 a week from mid last year on their petrol bill.</li>
</ul>
 
<img src="https://www.ampcapital.com/AMPCapitalGlobal/media/contents/Blog/olivers-insights/2015/February/4/chart-5.PNG" alt="Weekly petrol bill for a typical Australian household">
Source: AMP Capital
<ul class="link-list">
<li>Stronger export volumes from completed resource projects will provide a partial offset to lower commodity prices.</li>
</ul>
Overall, we see growth picking up gradually as the year progresses to a 3-3.5% pace through next year, but the RBA’s latest rate cut and one more to come provide confidence that this will occur.
Article continues on the next page. Please click below. 
<hr class="system-pagebreak">
Implications for investors
There are several implications for investors. First bank term deposit rates are becoming even less attractive and will remain low at least into next year. As a result, there is an ongoing need to consider alternative sources of yield and return.
<img src="https://www.ampcapital.com/AMPCapitalGlobal/media/contents/Blog/olivers-insights/2015/February/4/chart-6.PNG" alt="Not a lot of value in Australian term deposit rates">
Source: RBA, AMP Capital
Second, remain cautious on the Australian dollar. While the Australian dollar is nearly back to the US$0.75 level that marks fair value on the basis of relative prices, past experience tells us it can overshoot and it hasn’t fallen nearly as much against the Euro and Yen putting more pressure on for further weakness against the US dollar.
The RBA has indicated “a lower exchange rate is likely to be needed”, and it is likely to ease further till it gets this. The Australian dollar is oversold short-term and so could have a short-term bounce, but expect a fall to US$0.70 by year end. So continue to favour unhedged over hedged global shares.
<img src="https://www.ampcapital.com/AMPCapitalGlobal/media/contents/Blog/olivers-insights/2015/February/4/chart-7.PNG" alt="The A$ back to around fair value on relative prices">
Source: RBA, ABS, AMP Capital
Third, overweight Australian versus global bonds. While Australian bond yields are low they are high by global standards and likely to provide better returns than global bonds as the global search for yield results in ongoing convergence of Australian bond yields with the lower rates seen globally and as further RBA easing pulls down local bond yields. This should also benefit Australian corporate debt relative to global.
Finally, with low interest rates growth assets providing decent yields will remain attractive. This includes commercial property and infrastructure but also Australian shares which continue to offer much higher income yields relative to bank term deposits.
<img src="https://www.ampcapital.com/AMPCapitalGlobal/media/contents/Blog/olivers-insights/2015/February/4/chart-8.PNG" alt="Australian shares offering a great yield v bank deposits">
Source: RBA, Bloomberg, AMP Capital
<a href="https://www.propertyobserver.com.au/https://plus.google.com/110172465327488162875?rel=author" target="_blank">Shane Oliver</a> is head of investment strategy and economics and chief economist at <a href="https://www.ampcapital.com.au/home" target="_blank">AMP Capital</a> and is responsible for AMP Capital's diversified investment funds.
He also provides economic forecasts and analysis of key variables and issues affecting, or likely to affect, all asset markets.
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soliver-smf6LQXgW9

The RBA was right to cut rates and should do so again: Shane Oliver

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I talk a lot about infrastructure in connection with areas we rate as future hotspots. I often refer to infrastructure as the ultimate driver of values in residential property.
Over many years of researching outperforming areas, the Hotspotting team has found that the common denominators of most good growth areas are affordable real estate, good infrastructure (with a bonus of spending on new infrastructure) and proximity to major jobs nodes.
Many hotspots fit this basic formula: affordability + infrastructure + jobs = price growth.
Nothing in real estate is ever quite that simple, but that basic recipe is a pretty good starting point for property investors.
The term “infrastructure” covers all manner of things, but the key elements are transport infrastructure and education-medical infrastructure.
The core impacts of these types of infrastructure is that they create tremendous economic activity and jobs (leading to real estate demand) while under construction and they improve the amenity and appeal of locations once completed.
Transport infrastructure covers roads, tunnels, bridges and rail links which improve the accessibility of areas. Nothing revolutionises the appeal of a location like the creation of new train links.
Last week Channel 7’s Today Tonight interviewed me about my high rating of the suburb of Forrestfield in Perth.
There were two key factors. Apart from the inherently good qualities about this suburb (location, amenities, etc), it stood out in the short-term because of recent rises in sales volumes, leading inevitably to price growth. But, taking a longer-term view, the central factor was the state government decision to create a new rail line linking central Perth to Forrestfield via the airport.
In some ways, education-medical infrastructure is even more influential. I link hospitals and universities together because often they are clustered in the same location in our major cities.
One of the characteristics of this type of infrastructure is that it creates employment while under construction, but even more jobs once completed. Any suburb or precinct with a cluster of major medical and education facilities in its midst has a extraordinary source of accommodation demand. So much activity, including real estate demand, is generated around these types of facilities.
Infrastructure is the chief reason we rate the Sunshine precinct in Melbourne’s west so highly. The area already has a major hospital and two university campuses, but new spending will take this precinct to a new level. Another hospital is planned and an $800 million transport hub is being built as part of the $5 billion Regional Rail Link.
Events like this are game changers for property markets.
Big ticket infrastructure is influential in its own right, but one of the bonus benefits is the new activity it generates. If a major new hospital is built, other development will sprout around it.
Queensland’s Sunshine Coast is a transition economy, one that is evolving from a weak economy reliant on unreliable tourism to one with other strong factors. The game changer there is the $2 billion University Hospital. It’s a significant event by itself but it’s causing all manner of new ventures to spring up in its shadow.
There’s the Oceanside Kawana Health Hub, the $60 million Health and Social Wellbeing Learning Precinct and the $40 million IRT Woodlands retirement community.
These projects are all consequences of the creation of that massive new hospital. A whole new industry is being created and is helping to make the Sunshine Coast one of the most compelling regional economies in Australia.
Investment in infrastructure and property developments in the Sunshine Coast Region totals around $15 billion. No other regional city in Australia comes close to that level of investment (other than Gladstone, where those three huge gas facilities are under construction).
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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terryryder-YECXbqmri2

My basic formula for identifying hotspots: Terry Ryder

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A few weeks agowe highlighted that the number of dwellings approved for construction reached an all-time high over the year to November 2014 with almost 200,000 approvals registered nationally. 
<a href="https://blog.corelogic.com.au/2015/01/record-high-number-dwelling-approvals-november-2014/" target="_blank"> Over the year house approvals were up 3.6%</a> compared with an 18% increase in the number of multi-unit dwellings approved.
<a href="https://blog.corelogic.com.au/wp-content/uploads/2015/01/Chart-1.jpg" rel="wp-prettyPhoto[g4190]"><img class="aligncenter size-full wp-image-4147" src="https://blog.corelogic.com.au/wp-content/uploads/2015/01/Chart-1.jpg" alt="Chart 1" width="500" height="181"></a>
The record level of housing supply in the pipeline comes at a time when population growth (ie housing demand) is winding down and some of the heat is coming out of the housing market.
A deep dive on the Australian Bureau of Statistics approvals data pinpoints exactly where the bulk of the development pipeline from the past year is geographically concentrated. 
At a broad level we can see the majority of new dwelling approvals are located in Melbourne where 44,633 new dwellings have been approved for construction over the 12 months ending November 2014.  Melbourne dwelling approvals accounted for 23% of all approvals nationally and 31% of all approvals across the combined capital city metro areas.
Sydney was close behind, recording just over 39,000 new dwelling approvals over the year.  67% of all approvals across the Sydney market were for multi-unit dwellings (the highest proportion of apartments approved of any capital city).
<a href="https://blog.corelogic.com.au/wp-content/uploads/2015/01/Table-national-approvals-across-cap-city-and-ros-regions.jpg" rel="wp-prettyPhoto[g4190]"><img class="aligncenter size-large wp-image-4199" src="https://blog.corelogic.com.au/wp-content/uploads/2015/01/Table-national-approvals-across-cap-city-and-ros-regions-580x399.jpg" alt="Table - national approvals across cap city and ros regions" width="580" height="399"></a>
While new housing supply should generally be viewed as  positive and a necessary factor in the Australian housing market and economy, areas where the approved supply pipeline are out of alignment with demand can offer up an element of risk. 
We recommend that prospective buyers factor supply levels into their housing market analysis and undertake additional research where they fear an area may be in oversupply or at least moving in this direction. 
The number of multi-unit dwellings, particularly in Melbourne and Brisbane are hovering around record highs.  Of course demand for this type of product is increasing but there are risks associated with too much new development of this product type, particularly given values are rising and population growth is slowing.
Eight of the top 20 SA3 regions, based on the number of dwelling approvals over the year to November 2014, are located in Melbourne; five are located in Perth, four in Sydney, two in Brisbane and one in Canberra.
<a href="https://blog.corelogic.com.au/wp-content/uploads/2015/01/Table-National-top-20.jpg" rel="wp-prettyPhoto[g4190]"><img class="aligncenter size-large wp-image-4208" src="https://blog.corelogic.com.au/wp-content/uploads/2015/01/Table-National-top-20-580x400.jpg" alt="Table National top 20" width="580" height="400"></a>
 
A state by state rundown on new housing supply begins on the next page. Please click below.
<hr class="system-pagebreak">
The tables and maps below highlight exactly where the largest amount of new housing supply is in the pipeline.
<a href="https://blog.corelogic.com.au/wp-content/uploads/2015/01/Sydney2.jpg" rel="wp-prettyPhoto[g4190]"><img class="aligncenter size-large wp-image-4198" src="https://blog.corelogic.com.au/wp-content/uploads/2015/01/Sydney2-580x351.jpg" alt="Sydney2" width="580" height="351"></a>
<a href="https://blog.corelogic.com.au/wp-content/uploads/2015/01/Table-NSW.jpg" rel="wp-prettyPhoto[g4190]"><img class="aligncenter size-large wp-image-4201" src="https://blog.corelogic.com.au/wp-content/uploads/2015/01/Table-NSW-580x276.jpg" alt="Table NSW" width="580" height="276"></a>
Seven of the top ten SA3 regions showing the most dwelling approvals across Sydney have a strong bias towards multi-unit dwellings, with the Inner Sydney region topping the list at 2,631 new apartments approved over the twelve months to November 2014. 
Within the inner city region it is the Waterloo-Beaconsfield area that is attracting the most developer interest.  These suburbs account for 1,047 (or 41%) of the apartments being developed across the Inner Sydney SA3 region.  Several areas around Sydney’s inner ring are attracting very little in the way of densification over the past year. 
The Manly region has only recorded 48 new dwelling approvals over the past year and similarly, Leichardt has recorded only 65 new dwelling approvals.  Towards the outskirts of the city, the regions attracting the largest supply pipeline are Parramatta (1,558 new unit approvals over the past year and 119 house approvals) as well as the Bringelly-Green Valley region which is seeing an influx of new detached housing approvals (1,449).
 
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<a href="https://blog.corelogic.com.au/wp-content/uploads/2015/01/Melbourne2.jpg" rel="wp-prettyPhoto[g4190]"><img class="aligncenter size-large wp-image-4196" src="https://blog.corelogic.com.au/wp-content/uploads/2015/01/Melbourne2-580x351.jpg" alt="Melbourne2" width="580" height="351"></a>
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Melbourne’s inner city tops the nation with the majority of new dwelling approvals, recording just over 5,000 new apartment approvals over the past year. 
The high approval reading comes after 3,725 apartments were approved in the same region over the previous year as well as 5,419 the year before that.  More than half of last year’s approvals across the Melbourne Inner City were located in the Melbourne CBD (2,418) followed by North Melbourne (682) and Docklands (657). 
Outside of the inner city, the majority of new dwelling approvals across the Melbourne metro area have been located in the outer fringes and are primarily detached dwellings.  The Whittlesea-Wallan region has recorded the second highest number of Greater Melbourne dwelling approvals over the twelve month period at 2,956 of which 83% were detached dwellings. 
The data shows that the densification taking place in the Melbourne housing market is very much focussed within the inner city core.
 
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<a href="https://blog.corelogic.com.au/wp-content/uploads/2015/01/Brisbane2.jpg" rel="wp-prettyPhoto[g4190]"><img class="aligncenter size-large wp-image-4192" src="https://blog.corelogic.com.au/wp-content/uploads/2015/01/Brisbane2-580x351.jpg" alt="Brisbane2" width="580" height="351"></a>
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The Brisbane Inner North SA3 region has recorded the third highest number of new dwelling approvals of all SA3 regions nationally over the 12 months to November 2014.  2,981 new apartment approvals were recorded over the year and 117 house approvals. 
The suburbs of Bowen Hills and Newstead comprise the majority of these approvals with 1,535 new apartments approved for construction over the twelve month period. 
The Inner City region also recorded a high number of multi-unit dwelling approvals, with 1,881 new apartments approved for construction over the year. 
Outside of the state capital, the regional city of Townsville recorded the third highest number of dwelling approvals across the state over the twelve month period, with 1,228 houses and 410 apartments. 
Interestingly, the resource-intensive regions of Mackay and Gladstone-Biloela, where market conditions have softened substantially, have also made it into the top ten for the state for new dwelling approvals over the year.
 
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<a href="https://blog.corelogic.com.au/wp-content/uploads/2015/01/Adelaide2.jpg" rel="wp-prettyPhoto[g4190]"><img class="aligncenter size-large wp-image-4191" src="https://blog.corelogic.com.au/wp-content/uploads/2015/01/Adelaide2-580x351.jpg" alt="Adelaide2" width="580" height="351"></a><a href="https://blog.corelogic.com.au/wp-content/uploads/2015/01/Perth2.jpg" rel="wp-prettyPhoto[g4190]"> </a><a href="https://blog.corelogic.com.au/wp-content/uploads/2015/01/Table-SA.jpg" rel="wp-prettyPhoto[g4190]"><img class="aligncenter size-large wp-image-4204" src="https://blog.corelogic.com.au/wp-content/uploads/2015/01/Table-SA-580x285.jpg" alt="Table SA" width="580" height="285"></a>
Slightly less than one third (31.3%) of all new dwelling approvals across Adelaide were for multi-unit dwellings over the twelve months ending November 2014, with the city having a clear preference for detached dwellings. 
The largest supply pipeline, based on approvals over the twelve month period, can be found in Onkaparinga where 1,103 new dwelling approvals were issued over the year.  Most of the approvals were at Seaford (418), Aldinga (164) and Christies Beach (132). 
The Charles Sturt region was the only other SA3 in South Australia to record more than 1,000 approvals over the year.
Article continues on the next page. Please click below.
 
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<a href="https://blog.corelogic.com.au/wp-content/uploads/2015/01/Perth2.jpg" rel="wp-prettyPhoto[g4190]"><img class="aligncenter size-large wp-image-4197" src="https://blog.corelogic.com.au/wp-content/uploads/2015/01/Perth2-580x351.jpg" alt="Perth2" width="580" height="351"></a>
<a href="https://blog.corelogic.com.au/wp-content/uploads/2015/01/Table-WA.jpg" rel="wp-prettyPhoto[g4190]"><img class="aligncenter size-large wp-image-4207" src="https://blog.corelogic.com.au/wp-content/uploads/2015/01/Table-WA-580x284.jpg" alt="Table WA" width="580" height="284"></a>
At a time when the Perth housing market is slowing down, new dwelling approvals have moved to historic highs. 
The SA3 region of Wanneroo ranks as number two nationally for dwelling approvals, with 3,406 new homes approved for construction over the twelve months to November 2014.  
The Swan region ranked second highest across Western Australia and 8th nationally with 2,557 new dwelling approvals.  The urban form of Perth housing continues to be mostly focussed on detached housing, with only 23% of new dwelling approvals being for multi-unit dwellings (only Hobart shows a lower proportion at 11%). 
With home value growth slowing and both sales volumes and rents falling, buyers of new homes, particularly if they are buying for investment purposes, should be cautious.
 
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<a href="https://blog.corelogic.com.au/wp-content/uploads/2015/01/Hobart2.jpg" rel="wp-prettyPhoto[g4190]"><img class="aligncenter size-large wp-image-4195" src="https://blog.corelogic.com.au/wp-content/uploads/2015/01/Hobart2-580x365.jpg" alt="Hobart2" width="580" height="365"></a>
<a href="https://blog.corelogic.com.au/wp-content/uploads/2015/01/Table-Tas.jpg" rel="wp-prettyPhoto[g4190]"><img class="aligncenter size-large wp-image-4205" src="https://blog.corelogic.com.au/wp-content/uploads/2015/01/Table-Tas-580x277.jpg" alt="Table Tas" width="580" height="277"></a>
Despite recording the lowest number of dwelling approvals of any state or territory over the twelve months ending November 2014, dwelling approvals across Tasmania have been trending higher to reach their highest point since early 2012. 
The most significant level of approval activity over the twelve months to November last year was located in the north of the state at Launceston where 329 dwellings were approved for construction.
 
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<a href="https://blog.corelogic.com.au/wp-content/uploads/2015/01/Darwin2.jpg" rel="wp-prettyPhoto[g4190]"><img class="aligncenter size-large wp-image-4194" src="https://blog.corelogic.com.au/wp-content/uploads/2015/01/Darwin2-580x351.jpg" alt="Darwin2" width="580" height="351"></a>
<a href="https://blog.corelogic.com.au/wp-content/uploads/2015/01/Table-NT.jpg" rel="wp-prettyPhoto[g4190]"><img class="aligncenter size-large wp-image-4202" src="https://blog.corelogic.com.au/wp-content/uploads/2015/01/Table-NT-580x261.jpg" alt="Table NT" width="580" height="261"></a>
58% of Darwin dwelling approvals over the twelve months to November 2014 were for multi-unit dwellings, the highest proportion of apartment approvals outside of Sydney. 
The largest development pipeline, based on dwelling approvals over the twelve month period, was at Palmerston with 818 new dwelling approvals a majority of which were units.
 
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<a href="https://blog.corelogic.com.au/wp-content/uploads/2015/01/canberra2.jpg" rel="wp-prettyPhoto[g4190]"><img class="aligncenter size-large wp-image-4193" src="https://blog.corelogic.com.au/wp-content/uploads/2015/01/canberra2-580x366.jpg" alt="canberra2" width="580" height="366"></a>
<a href="https://blog.corelogic.com.au/wp-content/uploads/2015/01/Table-ACT.jpg" rel="wp-prettyPhoto[g4190]"><img class="aligncenter size-large wp-image-4200" src="https://blog.corelogic.com.au/wp-content/uploads/2015/01/Table-ACT-580x269.jpg" alt="Table ACT" width="580" height="269"></a>
The annual number of dwelling approvals has been trending lower across the Australian Capital Territory since early 2014 as housing market conditions broadly soften across the national capital. 
The Gungahlin region remains the most popular location for dwelling approvals across the Territory, with 2,160 new dwelling approvals over the twelve month period ending November last year. 
That figure is almost three times higher than the next most popular SA3 location, Cotter-Namadji, where 762 dwellings were approved for construction.
Buyers and developers of new stock should be cautious given that values, sales volumes and rental rates are currently falling in Canberra.
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Where are the housing supply pipelines? A state by state rundown

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The Australian Electoral Commission released financial disclosure data for the 2013-14 financial year earlier this week, revealing that the single largest donor to the ALP was an unknown China-based person named Zichun Wang. 
Crikey can reveal that Zichun Wang appears to be the deputy general manager of Chinese property development firm Ever Bright Group, responsible for several large developments in Melbourne’s eastern suburbs.
Wang gave $850,000 to the national ALP Secretariat in two parcels that year, the largest donation to either party.
An article about the “mystery Chinese donor” in <a href="https://www.smh.com.au/federal-politics/political-news/mystery-chinese-donor-zi-chun-wang-tops-political-donations-with-850000-gift-to-labor-20150202-133ofe" target="_blank">Fairfax</a> provoked much speculation as to the identity of the generous figure, with Business Spectator <a href="https://www.businessspectator.com.au/news/2015/2/3/china/chinese-man-tops-list-australian-political-donors?utm_content=SocialFlow&amp;utm_campaign=EditorialSF&amp;utm_source=BusinessSpectator&amp;utm_medium=Twitter">discovering</a> links between Wang and Australian real estate investment.
But Crikey can reveal the man behind the money appears to be Melbourne-based Ever Bright Group’s deputy general manager.
Ever Bright Group is responsible for building a range of large property developments primarily across Melbourne and Shijiazhuang, the largest city in Hebei province. Property developers have been banned from donating to political parties in New South Wales since 2009, but there are no Victorian or federal rules against it.
It is unclear whether Ever Bright Group is state owned, though there is a Chinese state-owned conglomerate of the same name. The company’s published history on its website suggests it may be linked to the state-owned China State Construction Engineering Corporation. Careers website <a href="https://company.zhaopin.com/%E6%B2%B3%E5%8C%97%E6%B0%B8%E6%98%8C%E6%88%BF%E5%9C%B0%E4%BA%A7%E5%BC%80%E5%8F%91%E6%9C%89%E9%99%90%E5%85%AC%E5%8F%B8%E4%BF%9D%E5%AE%9A%E5%88%86%E5%85%AC%E5%8F%B8_CC432198127.htm" target="_blank">Zhaopin</a> lists EBG as a private company.
The contact address given on the Australian Electoral Commission disclosure form for the donor is given as a housing block for retired Communist Party apparatchiks and bureaucrats in Shijiazhuang, as well as the Hebei Provincial Development and Reform Commission.
When Crikey called Ever Bright Group’s Melbourne office, the receptionist said Wang was currently in China, but gave the same contact email address as that supplied on the AEC return form.
The China-based phone number listed on the AEC form rings out.
The company’s website features a <a href="https://www.ebgcn.com/news1_details.aspx?nid=12021" target="_blank">news story</a> from March 2014 of Wang visiting Melbourne’s Carey Baptist Grammar school. Another <a href="https://ebgcn.com/news1_details.aspx?nid=12040">article</a> shows EBG Chairman Yuan Wan Yong meeting with Prime Minister Tony Abbott and then-Victorian premier Denis Napthine in June 2014.
Ever Bright Group’s Melbourne developments have included the controversial Stonington Mansion Estate in Malvern. The estate was previously used by Deakin University as a campus, but the university sold it to private developers in 2006 in the face of protests from Stonnington City Council and former federal treasurer Peter Costello. Ever Bright paid $30 million for it in late 2010.
The company is also responsible for the $110 million Lucia luxury apartments in South Yarra. Ever Bright’s website says the development should have been completed by late 2014.
<a href="https://www.businessspectator.com.au/news/2015/2/3/china/chinese-man-tops-list-australian-political-donors?utm_content=SocialFlow&amp;utm_campaign=EditorialSF&amp;utm_source=BusinessSpectator&amp;utm_medium=Twitter" target="_blank">As revealed by </a><a href="https://www.businessspectator.com.au/news/2015/2/3/china/chinese-man-tops-list-australian-political-donors?utm_content=SocialFlow&amp;utm_campaign=EditorialSF&amp;utm_source=BusinessSpectator&amp;utm_medium=Twitter" target="_blank">Business Spectator</a>, a search of usernames attached to Wang’s email address reveals a series of posts on forums by a Hebei-based user dating back to 2007 showing an interest in Australian property investments.
One comment stated: “Very interesting! I’m interested in investing, and will keep an eye on it!”
This article first appeared on <a href="https://www.crikey.com.au/" target="_blank">Crikey</a>.
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Meet the mysterious Chinese property developer giving a motza to the ALP

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GUEST OBSERVATION
Though markets had somewhat priced in an Australian interest rate cut yesterday, many analysts and commentators were still left surprised.
The rate had not been cut for 18 months. Over that period commentary varied over the entire gamut of the need for both increased and decreased rates. But the markets have until this point been largely satisfied with the expectation of little change.
This time the markets were concerned. The falling value of the Australian dollar showed their uncertainty about the likelihood of a move (although the direction was fairly well expected).
What can we learn from the market reactions and the extent of the cut?
Norwegian economist Tore Ellingsen and Swedish central banker Ulf Söderström <a href="https://www.propertyobserver.com.au/https://www.jstor.org/discover/10.2307/2677943?sid=21105778703003&amp;uid=2&amp;uid=3737536&amp;uid=4">have argued</a> that the behaviour of the <a href="https://www.investopedia.com/terms/y/yieldcurve.asp">yield curve</a> following a rate cut clearly indicates the nature of the surprise experienced by the market. To sum up, if the yield curve simply shifts this represents the extent to which the change in the interest rate reflects changes in the economic environment as assessed by the central bank. On the other hand, if the yield curve rotates this represents communication of changing preferences over the economic aims of the central bank.
This simplification of their theoretical model is useful in the current context. First of all, it is very evident that the Australian yield curve did not rotate in reaction to the news yesterday. There is no evidence the central bank has changed its preferences in relation to its economic aims. The rhetoric in the bank’s statement and the market actions as a result do not show any inconsistency with the policy concerns that all players in the market are familiar with. This should be comforting.
The fact that the yield curve shifted means the markets were surprised by the action to some extent. One mechanism of surprise can be that the markets are waiting for validation of the expert view in the market from the central bank in the face of considerable uncertainty – and this may well be the most compelling argument for the current action.
Many academic economists (myself included) <a href="https://cama.crawford.anu.edu.au/rba-shadow-board/outcome/2015-02">supported</a> a continuation of the 2.50% rate as the most appropriate path last week. However markets were unsure; in this case the cut seems to have served to increase transparency about policy and the economic situation, helping to anchor expectations. Taken to its extreme the transparency argument suggests that a central bank with strong rhetoric will almost never surprise financial markets, as expectations will be managed via other communication means.
So how does the Reserve Bank of Australia (RBA) perform in communicating its policy intentions in general?
New research in collaboration with former Treasury economist Edda Claus (based on a <a href="https://onlinelibrary.wiley.com/doi/10.1111/j.1538-4616.2012.00539.x/abstract;jsessionid=5A56AE7055E885361CBBEAEDA6877597.f03t01?deniedAccessCustomisedMessage=&amp;userIsAuthenticated=false">methodology we developed</a>), compared the policy surprises generated at the RBA, Bank of Canada and the US Federal Reserve over the last two decades, and found the RBA is less likely to surprise.
The RBA appears to be particularly good by international standards in providing clear policy guidance to markets and sticking with a consistent policy agenda. Even during periods of significant market stress, the changes in policy preferences and direction do not surprise the market to the extent evident in Canada and the US.
The global leadership of the US markets may explain some of the greater evidence of surprise in Fed actions, but the comparison between Canada and Australia is of considerable interest. Studies that use institutional factors to measure transparency clearly favour the Bank of Canada as more transparent than the RBA. Yet, the market evidence, which directly addresses the question of “do the markets understand the actions?”, clearly favours the strategies of the RBA.
The actions of the RBA in reducing the cash rate, accompanied by the rhetoric in the press release, seem to be part of the RBA’s consistent moves to clarify its current assessment of the economic situation for the market. This has reassured the market that there is no departure from its policy aims and agenda.
The reassurance that monetary policy is well in hand is likely to be a calming influence in what are unsettled international conditions over which Australia has no control. This has to be a good thing.
Mardi Dungey is professor of Economics and Finance, Associate Dean of Research, Tasmanian School of Business and Economics at University of Tasmania
This article was originally published on <a href="https://theconversation.com" target="_blank">The Conversation</a>.
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Why it's good for markets to second-guess the RBA: Mardi Dungey

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JLL have released a new report containing their outlook for Brisbane's near city market for the next 12 months in a chart (see below).
2014 was a challenging year for the Brisbane near city office market after a wave of subleasing flooded the market, according to JLL.
Due to further possible mining contractions, demand is likely to be subdued, the report states.
The most substantial addition will be Lend Lease's Kings Gate development, which currently has 40% commitment for its total 16,300 square metres of office space.
 <img src="/images/2015/02/04/jll-feb-4-two.jpg" alt="">
Source: JLL
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Brisbane's near city office market outlook for 2015: JLL

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A Tamanian buyer outbid national and international contenders to secure The Sebel Launceston.
It is a 4.5-star CBD apartment hotel sold for close to $10 million, the first time since opening in 2005.
It was listed through national specialist accommodation and hospitality property agency, Resort Brokers Australia by its original developer, Tasmanian Boutique Hotels Pty Ltd.
Resort Brokers Australia national sales manager Trudy Crooks says there were 30 genuine enquiries.
The sale of the freehold land and buildings component showed a 9% return while the leasehold sold on a 26% return, she said.
The Sebel Launceston, on the corner of St John and Williams streets, features 49 self-contained one and two bedroom suites, the popular Market Square Restaurant, two dedicated conference venues, a gymnasium, courtyard and large reception and lounge with open fire.
Designed by Launceston’s Artas architects, it features Tasmanian stone and timbers, showcases locally-commissioned art, and promotes local growers, producers and vineyards through its menus.
The buyer, a local investment company, has a background in tourism and hospitality, having previously owned motels and hotels in NSW and the ACT, Crooks said.
The hotel will continue to operate as part of the growing Sebel portfolio, Accor’s upscale apartment hotel brand.
Latest trading figures show The Sebel Launceston achieved a very healthy occupancy rate of 79.3% for 2013-14, compared to the Tasmanian average of 58.5% for the year (ABS, Hotels Motels &amp; Serviced Apartments 15+ rooms).
Occupying a 3,651 square metre site, the eight-storey mixed-use building also incorporates 35 strata titled residential apartments on the upper three levels, which are individually owned and were not part of the sale.
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