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.

&nbsp;

&nbsp;

&nbsp;

&nbsp;

&nbsp;

[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

<html><body>
Sydney has been ranked the third most unaffordable major property market in the latest annual Demographia International Housing Survey.
Melbourne took sixth spot on the unaffordability index.
Hong Kong was ranked the most unaffordable place to buy a house, followed by Vancouver.
The report noted historically, the median multiple had been "remarkably similar" in Australia, Canada, Ireland, New Zealand, the United Kingdom and the United States, with median house prices from two to three times median household incomes.
"However, in recent decades, house prices have been decoupled from this relationship in a number of markets, such as Vancouver, Sydney, San Francisco, London, Auckland and others," the report said.
<a href="/images/2015/01/19/unaffrodabe-jan-19-one.jpg" target="_blank"><img src="/images/2015/01/19/unaffrodabe-jan-19-one.jpg" alt=""></a>
Source: Demographia
The US was the most affordable place to buy a house of all the countries surveyed, with 14 major property markets ranked as being affordable.
New Zealand property values rose 4.9% last year, less than half the pace in 2013, according to recent QV figures, but Auckland ranked ninth.
The 11th annual Demographia survey analysed 86 major property markets in New Zealand, Australia, the United Kingdom, United States, Canada, Hong Kong, Ireland and Singapore.
<img src="/images/2015/01/19/unaffrodabe-jan-19-two.jpg" alt="">
Source: Demographia
The most affordable major metropolitan markets in 2014 were in the United States, which had a moderately unaffordable rating of 3.6. 
Canada and Ireland were rated "seriously unaffordable," with a median multiple of 4.3, along with Japan (4.4), the United Kingdom (4.7) and Singapore (5.0). Australia (6.4), New Zealand (8.2) and Hong Kong (17.0) were severely unaffordable.
Hong Kong's median multiple of 17.0 was the highest recorded (least affordable) in the 11 years of the Demographia International Housing Affordability Survey.
Click to open in new window: 
<a href="/images/2015/01/19/unaffrodabe-jan-19-three.jpg" target="_blank"><img src="/images/2015/01/19/unaffrodabe-jan-19-three.jpg" alt=""></a>
Source: Demographia
Again, Vancouver was second only to Hong Kong, with a median multiple of 10.6.
Housing affordability in Sydney deteriorated to a median multiple of 9.8, which was followed by San Francisco and San Jose (each 9.2). 
Melbourne had a median multiple of 8.7 and London (Greater London Authority) 8.5. 
Three other markets had median multiples of 8.0 or above, including San Diego (8.3), Auckland (8.2) and Los Angeles (8.0). 
For the 11th year in a row - each of the years the Demographia International Housing Affordability Survey has been published - all of Australia's five major metropolitan areas were severely unaffordable.
Sydney's median multiple of 9.8 was a substantial increase from last year's 9. It was based on an $812,000 median price and an $82,800 median household income.
Housing affordability also deteriorated in Melbourne, rising to a median multiple of 8.7 in 2014 from 8.3 in 2013, based on $658,000 and $75,900 income. Housing affordability deteriorated slightly in Adelaide (from 6.3 to 6.4 based on $410,000 median and $63,600 median income), Perth (from 6.0 to 6.1 $535,000 and $87,200) and Brisbane (from 5.8 to 6.0 $465,000 and $78,000). 
The top 10 most unaffordable city markets in the world:
1. Hong Kong 2. Vancouver 3. Sydney 4. San Francisco 5. San Jose 6. Melbourne 7. London 8. San Diego 9. Auckland 10. Los Angeles
Source: Demographia
Among all 378 markets, there were 98 affordable markets, 88 in the United States, five in Canada, three in Ireland and, for the first time, there were affordable markets in Australia, <a href="https://www.demographia.com/dhi.pdf" target="_blank">perhaps the only surprise</a> in what has been a highly repetitive predictable survey.
The most affordable surveyed Australian market was suggested as Karratha, in Western Australia's Pilbara, with a median multiple of 2.6. Kalgoorlie, also in Western Australia was judged the second most affordable Australian market, with a median multiple of 2.8. 
"These improvements appear related to resource industry related demand decreases," the report's author Wendell Cox noted.
But amid the smaller surveyed markets Tweed Heads sat in the highly unaffordable at a 9.1 median multiple and Port Macquarie, with a median multiple of 8.2. 
In 2008 the survey suggested Australia was perhaps the least densely populated major country in the world, but state governments there have contrived to drive land prices in major urban areas to very high levels, with the result that in that country housing in major state capitals has become severely unaffordable.
House price data for Australia is from multiple sources, the most important being the Real Estate Industry Association of Queensland (Queensland Market Monitor), the Real Estate Institute of Victoria, the Real Estate Institute of South Australia, the Real Estate Institute of Western Australia, Australian Property Monitors, the Real Estate Institute of Australia and various real estate internet web sites.  
The report noted in Australia, housing affordability multiples have been published that compare average household incomes and median house prices. 
"To make valid comparisons between international markets, it would be necessary to also calculate these "average/median" multiples for the markets outside Australia to which comparisons are made (and to provide historical data). However, "average/median" multiples have been inappropriately compared to median multiples," Wendell Cox advised.
"This treatment portrays Australian housing affordability, which is among the worst in the high-income world, more favorably than the reality." 
While Property Observer takes housing affordability seriously, the results of the report are, as noted, predictively repetitive. So which of the three most expensive cities would you prefer to live in? 
{mijopolls 75} 
</body></html>

jchancellor-FAypfDUnLy

Only Hong Kong and Vancouver dearer than Sydney's severely unaffordable housing: 11th Demographia 2015 survey

<html><body>
Upmarket British department store Marks and Spencer is the latest international retailer to be rumoured to be landing Down Under, with speculation the company is on the search for an Australian ad agency.
The rumours follow a report released by Deloitte this week that forecast the flood of <a href="https://www.smartcompany.com.au/growth/45250-global-retail-invasion-set-to-continue-in-2015-five-major-retail-trends-to-shape-the-year" target="_blank">international retailers coming to Australia</a> will continue in 2015.
<a href="https://www.adnews.com.au/news/british-retailer-mands-rumoured-to-be-landing-on-aussie-shores" target="_blank">AdNews reports </a>Marks and Spencer is shopping around for a local ad agency to make its move into the Australian market, with a senior agency executive telling the publication: “As far as I can tell, M&amp;S hasn’t decided on which agency to appoint and in terms of opening, well, no-one knows the exact date but it will definitely happen soon.”
Brian Walker, chief executive of the Retail Doctor Group, said the iconic British retailer has been <a href="https://www.smartcompany.com.au/growth/economy/35362-marks-spencer-edges-closer-to-oz-turkey-increases-rates-to-halt-currency-downturn-midday-roundup" target="_blank">rumoured to be looking at Australia</a> for some time.
“Marks and Spencer are absolutely coming to Australia, that’s a given,” says Walker.
The upmarket department store was founded in 1884 and already operates in more than 50 territories worldwide, employing almost 86,000 people.
Offering everything from fashion to fine food across a mix of designer labels and its own brands, Marks and Spencer’s online channel has shipped products to Australia for several years.
“They know the market here, they know through their online sales and online intelligence that this a good market for them,” Walker says.
Walker says the arrival will pose the biggest threat to Myer and David Jones.
“I have to say, the duopoly of the department store scene is really under threat. It was clear there wasn’t ample space for more than two, but now with online department stores and online retailing, there is a real threat to big footprint department store models, like David Jones and Myer,” he says.
Built pre-internet, Walker says these models were founded on physical domination, big branding and lots of of stock in plenty of space.
“Online has changed that so dramatically. Businesses like Marks and Spencer can open anywhere around the world now and they have already built an understanding of their brand through their online presence,” he says.  
Walker says there will be a significant ex-pat population that will likely flock to the brand, as well as many Australians who will be familiar with Marks and Spencer from travelling.
“It’s another part of the core supply of the department store duopoly being eaten away,” he says.
Marks and Spencer bricks-and-mortar stores are also well known for upmarket grocery departments, a feature which Walker says has been largely neglected by Australian department stores, relative to that of overseas players.
“The food offering has largely been left alone by department stores, relative to Marks and Spencer and Harrods. I can only assume they’ll bring that element, which has been missing from the Australian market,” he says.
Walker believes Marks and Spencer is likely to follow the path of international retailers before it, such as H&amp;M, TopShop and <a href="https://www.smartcompany.com.au/marketing/41574-four-lessons-from-japanese-fashion-icon-uniqlo-s-australian-launch" target="_blank">Uniqlo</a>, first opening in Sydney or Melbourne, before moving to Brisbane and eventually the west coast. 
“I don’t think there will be a plethora of Marks and Spencer stores. They’ll first see how the Sydney and Melbourne goes and boost their online presence,” he says.
SmartCompany contacted Marks and Spencer but did not receive a response prior to publication.
This article first appeared on <a href="https://www.smartcompany.com.au/" target="_blank">SmartCompany</a>.
</body></html>

krobb-aCrRNnPq6D

British retailer Marks and Spencer rumoured to be heading to Australia

<html><body>
Last year saw a mortgage broking milestone, a record-breaking December and inner-city markets cracking along at a "blistering pace", according to the latest Ray White White Paper.
Ray White Group's Brian White noted the group transacted $3.37 billion of real estate in December, a result he said would be a stand out any month of the year, "let alone one dominated by vacation and family time".
In December 2014, the group's New Zealand arm bested its previous efforts, selling $704 million worth of property. According to White, the agency has never set a record in December, in any of its many markets. The group operates in Australia, New Zealand, Indonesia, India, Malaysia, Papua New Guinea, China, the Middle East and the United States.
However, White wrote that Australia is lagging behind the New Zealand branch:
"Australia is at least one year behind – still short of its second anniversary of market revitalisation."
He noted the generational shift taking place in Sydney, with buyers previously moving to the suburbs, rather than clamouring to access inner-city markets, as they do today.
White confirmed the ongoing trend of Chinese investment in rural land, pointing to two large sales secured by Ray White Rural Sydney principal Bruce Gunning.
"With a total value of over $40million, these properties have been purchased by Chinese investors, showing the continuing foreign interest in Australian rural real estate," White wrote.
"The properties have had contracts exchanged in late December 2014 and are expected to settle in the first quarter of 2015."
Commercial property was a strong performer in 2014, with the business writing 65% more transactions last year than in 2013. White, however, did note that the regional markets "were a long way behind the capital markets and did not get the traditional flow-on effect from capital city activity".
Ray White Group's joint chairman, who is a third generation leader of the company (founded in 1902), also raised the strong performance of the mortgage broking industry in 2014. He noted that brokers were responsible for 51.5% of all residential loans in the September quarter.
</body></html>

jrichardson-uRX5hFdKfN

2014 a "remarkable real estate year": Ray White

<html><body>
GUEST OBSERVATION
Victorian Labor in its <a href="https://www.danielandrews.com.au/wp-content/uploads/2013/11/Victorian-Labors-Project-10000.pdf">November 2014 election transport manifesto Project 10,000</a> boldly announced it would “remove our 50 worst level crossings” at a cost of $5-6 billion.  They are now the government.
Grade separation of rail – elevating the track or, preferably, putting it underground in cut and cover trenches – removes congestion for both rail and road.  Higher transit speeds shrink the city. The savings available are quite substantial.
I am sure Melburnians quite like all this – provided someone else pays for it, and their personal amenity improves.
Tantalisingly, Labor alluded to ‘value capture’ as a funding mechanism:
"This engineering work requires a considerable amount of track on either side of the crossing to be submerged underground, freeing up land at ground level.
"At some locations there is likely to be an opportunity to develop this available land and ‘capture the value’ created by the removal of the level crossing.  While development opportunities will vary with each site depending on physical restraints, Victorian Labor will actively pursue appropriate development opportunities and reinvest the proceeds generated back into further improvements to the public transport system."
Those ‘appropriate development opportunities’ are the subject of a fascinating research paper, <a href="https://msd.unimelb.edu.au/sites/default/files/docs/Intensifying%20Melbourne%202014_180dpi.pdf">Intensifying Melbourne by the Melbourne School of Design</a> at the University of Melbourne, looking at practical urban design opportunities – like turning waste land around rail stations into high density residential – to transform the way this city lives.
The paper is broader than rail station redevelopment, but I want to focus here because of the principles involved.
Intensifying Melbourne looks at redevelopment scenarios for Reservoir, Sunshine, Surrey Hills and Batman rail stations, all surrounded by large areas of currently unused land with the potential for high density residential. The newly-created high-value land funds undergrounding the rail, overall density increases and congestion falls – a win-win-win.
Intensifying Melbourne is astonishingly honest about the difficulties around change of this magnitude. The sobering realities are nasty and include:
<ul>
<li>Councils are often elected to enforce the anti-development views of residents. Those in well educated, wealthy suburbs often see anything higher than two stories as gross over-development and are formidable opponents.  Governments take them on at their peril.</li>
</ul>
<ul>
<li>The cost of trenching is triple that of raising rail lines, and many scenarios result in negative land values – the engineering cost exceeds the land value uplift.</li>
</ul>
<ul>
<li>Reservoir and Sunshine are considered highly unattractive residential locations by planners and developers. Developers face above-average risks in realising their investment, relative to other competing opportunities. There is a genuine possibility of failure after government has spent hundreds of millions liberating land over time-frames longer than the four year electoral cycle.</li>
</ul>
I say, the problems and solutions are structural and go deeper that revealed by this analysis.  These calculations are incomplete and overlook key free-carried interests.
Labor identified major, widely dispersed congestion reduction benefits.  Large scale level crossing removal will uplift land values everywhere, as faster travel times shrink distance and cut both time and cost.
The current cultural narrative that all such benefits must accrue to land owners is the barrier.  Intensifying Melbourne sees this: “The way in which urban infrastructure investment creates capital gains and increased economic flows need to be better understood to ensure the capital gains due to public investment can be captured to fund that investment.”
This, of course, goes back to the structure of taxation.  We rely heavily on wage taxes and under-tax land.  Rebalancing this anomaly – an economically damaging imbalance imposed by major land owners on other citizens – would dramatically realign the economy toward productive activity if the beneficiary pays.
Shrinking the distance between say Narre Warren and the CBD brings important efficiencies and would permanently raise land prices along the entire corridor between.  The Victorian government has the tool to ‘value capture’ enough of the uplift to square the equation.  It is called state land tax.  Use it.
David Collyer is policy director of <a href="https://www.prosper.org.au/" target="_blank">Prosper Australia</a>.
David ran as a Senate candidate for the Australian Democrats in the 2013 federal election.
</body></html>

dcollyer-7rQRVBSdz6

Could value capture be the key to Melbourne's infrastructure development?

<html><body>
Hi Jo,

I am considering converting an existing block to dual occupancy.

I own the block (and house on it) outright. The block is 1,100 square meters in area.

The existing house is at one end of the block and dividing the block in half would still leave a meter between the existing house and a dividing fence.

The block is a corner block and there is provision for a second driveway in the other street.

The zoning in ACT almost precludes subdivision from most blocks. On the ACT Land map it actually has an address for both halves of the block, so my guess is that it was originally proposed and two blocks.

I have verbal approval to commence “the journey” from the ACT authorities.

But I have a question: Where to from here?

Regards,

Jeff

Australian Capital Territory

Hi Jeff,

It is interesting that there are already two driveways and street addresses, you may find there was a DA approved to subdivide at one stage, was not registered and may have lapsed. If so, then there may also be service connections.  It is worth making enquiries with council on this as it will save you money if some of the works have already been completed. 

If you were allowed to complete the subdivision of the land, including having it registered, this may save you paying a Section 94 Contribution that may be payable on a dual occupancy project. You can then build a new dwelling on the newly created lot without it impacting on the original house lot.

The best way forward for you is to use a local surveyor to manage the subdivision of your land. They will understand your local council's requirements.

You will need to allow for adequate private outdoor living space for the existing house and the surveyor can advise you on this and potential setbacks.

[smartcode_project:default project_id=5873]

The surveyor will be able to quote to manage the entire process, including getting quotes to extend the sewer and other service connections (if they are not already in place). It's important you understand the costs of subdividing.

To give you an idea, Property Bloom usually allows around $30,000 for a Torrens title subdivision of a large corner lot like you have described.  The cost will of course vary based on service connection works required, how far the sewer needs to extended and any upgrades to services that may be needed (if it is in a really old suburb).

Is the land kerbed and guttered on both sides?  If not, then one thing to look out for having council request you do these works. It's something you can check with the council town planner.  You will also need to provide drainage for the newly created lot, so the slope of your block is important. The surveyor will advise you on this.

[smartcode_project:default project_id=24767]

If you are going to lodge a DA for a dual occupancy and subdivision then a good builder may include the subdivision as part of their works and contract. This will mean you can finance works by way of a construction loan.  This is also a faster process than subdividing up front (which you cannot do anyway based on zoning) and you can lodge one DA for the building and the subdivision works. Again, check this with your local council as they all have different requirements.

I would also look at building a duplex (two attached dwellings) on the new lot rather than a single house as this will add more value and should create some good equity.

Good luck, I hope all goes well,

Jo

<a href="https://www.propertybloom.com.au" target="_blank">www.propertybloom.com.au</a>
</body></html>

jochivers-wq5Bp59R5a

Reader question: I want to subdivide my block of land, but where do I go from here?

<html><body>
ANZ chief economist Warren Hogan has joined the ranks of economists and industry figures predicting that the Reserve Bank will cut interest rates next month.
<a href="https://www.propertyobserver.com.au/https://twitter.com/anz_warrenhogan/status/555516365717524480" target="_blank"><img src="/images/2015/01/15/tweet-jan-15-one.jpg" alt=""></a> While Hogan imagines the overnight cash rate will drop by 50 basis points, from its record low 2.50% to 2.0%, Westpac's <a href="/expert-insights/finance/westpacs-bill-evans-still-expects-february-and-march-rba-rate-cuts">chief economist Bill Evans</a> is tipping a 25 basis point cut.
</body></html>

Tweet of the day: ANZ's Warren Hogan's predicts a February rate cut

<html><body>
It seems that one of the big issues for Australian households trying to achieve their financial goals is, simply, a lack of discipline with their money, according to a new survey.
ME Bank’s Savings Intentions and Behaviours Survey, which queried 1,500 adults across the country in December 2014, found that 59% of Australian households do not consistently set a budget.
A further 41% set a budget but do not stick to it, while only 38% of households keep written or electronic records of their monthly expenses over the past six months.
ME Bank head of deposits and transactional banking, Nicolas Emery, said that commitment to detail and discipline are necessary for good savings habits.
“But it’s easy to resolve: you just need to track the real costs of your household expenses, set a realistic budget and commit to every single detail, consistently,” he said.
However, this wasn’t the only alarming statistic they found.
Around 46% of Australian households reported they were ‘credit card revolvers’, where they rarely or never paid their debt off completely. A further 20% failed to pay household bills on time.
“Real problems start to occur when you get stuck in a roundabout of not paying your credit card or bills on time,” said Emery.
“We strongly advise anyone struggling with credit card debt after Christmas, or anytime of the year to address the issue as soon as possible.”
He suggested that consolidating debts through a personal loan can remove you from the “interest payment roundabout”.
Interestingly, it was Gen X and Gen Y that came out the worst, with 72% of Gen Y not keeping a record of monthly expenses and 67% not setting a weekly or monthly budget.
Across the age groups, it seems that most are cautionary or conservative with financial goals. The majority of the top goals related to paying off debt, with the top being paying off mortgage and/or debt or small savings goals. This included saving for a rainy day, saving for a holiday, car or other non-home related expense.
{mijopolls 73}
 
</body></html>

jduke-EHk3XBmHkn

Poll: Are you disciplined with money?

<html><body>
ME Bank has cut its five-year fixed rate home loan by 25 basis points to 4.69% per annum.
Their three-year fixed rate loan is at a record low of 4.59%, which brings both their three-year and five-year offerings to the cheapest on the market, according to ME Bank CEO Jamie McPhee.
“The cost at which ME Bank borrows in the fixed rate market has been falling. In turn, we can pass on these savings to customers,” he said.
“Unlike the majors, we’re keen to pass these opportunities on to customers and continue our aggressive position in the home loan market.”
McPhee said that, as well as their competitive rates, they recently made the decision to extend home loan offers to all borrowers, both members and non-members of Industry Super Funds and unions.
APRA statistics saw ME Bank boosting investor lending by 39.1% and owner occupied lending by 11.5% during the 12 months to 30 November 2014.
</body></html>

ME Bank cuts five-year fixed rate to record low

<html><body>
Aussie Home Loans set a new monthly settlement record in December, bettering its previous record set in May 2014. Home loan settlements for Aussie and its wholesale aggregator, National Mortgage Brokers (NMB), reached close to $1.8 billion.
It was $150 million above the previous record. Aussie’s executive director James Symond says the franchise now has its sight on the $2 billion mark for its 23rd year.
Aussie Home Loans has appointed CommSec general manager of customer experience Richard Burns as general manager of customer.
Burns joins the company after seven years with CommSec.
Founder and executive chairman of Aussie Home Loans John Symond said Burns will be responsible for Aussie Home Loans’ brand, marketing and digital presence, customer retention and data and IT architecture and operations.
Burns starts the new role on 9 February.
</body></html>

Aussie Home Loans aims for $2 billion month as Richard Burns joins executive team

<html><body>
The highest penthouse, a home elevated 319 metres at the top of much-awaited Australia 108, has been revealed by Singaporean developer World Class Land Pte Ltd, a subsidiary of Aspial.
The Melbourne, Southbank development will include 1,105 premium apartments will break another record – providing the most space for communal living in any Australian apartment project. This includes The Star Club, 110 metres above ground level, with two infinity pools – another record, with the two highest swimming pools in the country.
The Star Club will also include private theatrettes, bars, club lounges and private dining areas. Level 11 will include a steam room, golf simulator, outdoor deck and a sauna.
The tallest penthouse, a 797.4 square metre residence, will have 360 degree views of Melbourne, is fully customisable and priced in excess of $20 million.
Sales will start in February in the Fender Katsalidis Architects designed apartment tower.
<img src="/images/2015/01/15/TPA8467_Australia_108_E01_Hero%20Elevated.jpg" alt="">
It will be the tallest residential building in the southern hemisphere upon 2019 completion, with habitable floors up to level 100. It will surpass the Gold Coast’s Q1, which despite rising to a height of 322 metres when measured to the top of its spire, has its highest habitable floor at 235 metres.
Aspial CEO, Koh Wee Seng, said that it will go where no development has before.
“As the tallest tower in the southern hemisphere, it will offer one of the world’s most luxurious lifestyles, the largest communal recreation facilities in Australia as well as world-class luxury apartment living,” said Koh.
“The closer to heaven you get in Australia 108, the more spectacular the living environment – and not just for the views. This is a project we believe is truly cloud-breaking in its luxury, design and amenity.”
The building includes 161 ‘Cloud Residences’ above level 71, with a private lobby, personal concierge and private lift. It will also include a private gym and entertaining facilities, which CBRE managing director, residential projects, Andrew Leoncelli calls a unique approach to exclusivity.
“It is complemented by a never-before-seen level of design in the lower level Sky Rise apartments, which set them apart from anything that has been offered to the Australian market before,” he said.
The building will be recognised by its towering height, but also an external starburst feature on the façade at level 70, some 210 metres high. Within these levels will be the majority of the 3,000 square metres of communal space.
Construction will begin in mid-2015, to be completed over three stages.
</body></html>

Latest Expert Insights

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

Guides

Editor's Picks

Guides

Developments

New apartments

New townhouses

News

Latest Expert Insights

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

Guides

Editor's Picks

Receive the latest news stories to your inbox

Guides

Developments

New apartments

New townhouses

News