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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Guest observation
One of the appealing aspects of property investment is that it requires relatively little time, once you've made an initial purchase – particularly if you use the services of a professional  property manager.
However, there are some things a property manager can't do for you which could pay off  handsomely over time.
Here are a few New Year's resolutions to consider:
I will check that my interest rate is competitive.
 Both fixed and variable interest rates are currently low, and, in many cases, a phone call to your bank's customer retention team can yield a further drop – particularly if you can point to competitors who are prepared to charge you less. Rates of less than 5% are easily achievable.
I will order a depreciation report – and keep it up to date. 
Many property investors aren't aware of the benefits of depreciation, which can be claimed  against your taxable income each year and improve your cash flow. To claim, you'll need a  once-off "depreciation schedule" which can be prepared by a quantity surveyor and used  year after year.
Once you've got the schedule, it is worth keeping it up to date by advising  your accountant about any new equipment purchases such as a replacement hot water  service or a new air conditioner.
I will keep track of what my property portfolio is worth. 
Long-term investors, in particular, can sometimes be pleasantly surprised by what their  investments are worth. An accurate understanding can help you work out when you have enough equity to consider further investment – either in more property or other assets.
I will read my insurance policies, and check my sums insured.
 Landlord and building insurance policies are not created equal but many investors fail to read their policy until they need to make a claim. For example, some policies exclude cover for accidental damage, arson by a tenant, clandestine drug laboratory clean-up or properties leased month-to-month. Under-insurance is also a common problem, so make sure your sums insured are accurate and include sufficient allowance for demolition and rebuilding.
I will compare the rent I'm charging against the market. 
By researching the rents for comparable homes in the area, you can determine whether  you're charging an appropriate amount or whether a rise might be warranted. It will also help  you decide if extra features, such as air conditioning, are worth adding.
Your property  manager can help advise you in this area.
I will examine the performance of my investments and, if necessary, cut my losses.
 It is very difficult to admit you've made a mistake and sell, particularly if that means incurring  a loss. However, hanging on to a poorly-performing investment can hamper your ability to make better investments elsewhere. The aim of the game in property investment is to make  money. If you're not making money (whether through capital gain or rental returns) and  nothing looks set to change, then what's the point?
I will redirect all property bills to my property manager.
 The vast majority of property managers will pay bills such as rates, land tax and water on  your behalf from rent without charging you extra. They will then send you a neat and tidy summary at the end of the financial year which you or your accountant can use to easily do  your tax. It takes a little effort to get bills redirected to your property manager in the first place, but it pays off.
I will keep learning. 
There are some excellent free and inexpensive resources around which you can use to  further your property investment knowledge. Blogs, e-newsletters, investment forums,  magazines and electronic publications such as this are useful sources of information.
I will build my network.
 A team of knowledgeable contacts can prove invaluable. Think builders, trades people,  property managers, mortgage brokers, town planners, fellow investors, real estate agents...  By fostering positive relationships, you can call on them for advice down the track.
I will do my homework. There are unfortunately some sharks in the property investment waters. It can pay to keep alert and question the motivations of anyone who seeks to advise you. Always double check  their assertions with your own independent research before making any decisions.
Sharon Fox Slater is the Executive General Manager of landlord insurance provider  RentCover, a division of EBM Insurance Brokers. 
 
 
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sfoxslater-oVy9VUHSz9

New Year's resolutions for property investors

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Guest observation
The wheels of justice grind exceedingly slow and nowhere slower than in the Sydney headquarters of the Australian Securities and Investments Commission (ASIC). A recent <a href="https://www.smh.com.au/business/anz-traders-sidelined-during-asic-inves">report</a> appears to show that ASIC is still, just under two years after the events, following leads on possible manipulation of the Australian interest rate benchmark, the Bank Bill Swap Rate (BBSW).
We know the BBSW was manipulated as evidenced by an <a href="https://www.asic.gov.au/about-asic/media-centre/find-a-media-release/2014-releases/14-014mr-asic-accepts-enforceable-undertaking-from-bnp-paribas/">enforceable undertaking</a> by the French bank BNP-Paribas almost one year ago. What we don’t know yet is whether there was any evidence of involvement by Australian banks and, if so, to what extent? But it would not come as a complete surprise if <a href="https://theconversation.com/dont-believe-the-hype-our-own-libor-scandal-could-be-in-the-wings-12652">local banks had been involved</a>.
However, the question of whether Australian banks were involved or not in manipulation is irrelevant. There was indeed manipulation and it went unreported to ASIC until overseas regulators began to investigate manipulation of the widely used <a href="https://theconversation.com/watching-the-dominos-fall-in-the-libor-crisis-11358">LIBOR</a>benchmark. There are two scenarios. First, local bankers (as the major players in the BBSW market) knew there was manipulation and did nothing, benefiting from the outcomes. Alternatively, they did not know of the manipulation, in which case they come across as provincial dopes. Either way the Masters of Martin Place do not come out of the scandal very well.
After strenuously denying for years that the BBSW could possibly be manipulated, the Australian Financial Markets Association (AFMA) changed the BBSW <a href="https://www.afma.com.au/standards/market-conventions/Bank%20Bill%20Swap%20%28BBSW%29%20Benchmark%20Rate%20Conventions.pdf">calculation methodology</a> in July 2013 to one which collected live rates from the market, rather than expert opinion, to calculate the benchmark. Supposedly this would be <a href="https://theconversation.com/is-there-egg-on-the-rbas-face-13136">less prone</a> to manipulation. How wrong they were.
Just last November, in what was obviously a coordinated effort, regulators in three countries <a href="https://www.bloomberg.com/news/2014-11-12/banks-to-pay-3-3-billion-in-fx-manipulation-probe">announced fines</a> of more than US$4.3 billion on six banks found to have manipulated the most widely used benchmark in the global Foreign Exchange (FX) market. As with LIBOR, manipulation of the London “WMR 4 o’clock FIX” was long running, widespread and profitable. But unlike LIBOR, the “FIX” was calculated from live market rates, and supposedly manipulation-proof. But human ingenuity and greed finds ways around such trivial obstacles.
The regulators found that traders from the world’s largest banks colluded, through conversations in internet chat rooms, to “nudge” the FX market in a particular direction to benefit their own positions rather than their customers. Traders found that it was sufficient to manipulate the market for only about 60 seconds “around the FIX” to generate illicit profits.
In its <a href="https://www.bis.org/publ/rpfx13.htm">latest triennial survey</a> of activity in the FX market, the Bank for International Settlements (BIS) found that the Australian dollar was one of the top five most traded currencies accounting for some 8.6% of overall volume. Although the initial fines concentrated on manipulation of the major currencies (the US dollar, the Euro and the British Pound) it stretches credibility to believe that traders did not also manipulate the Aussie benchmark rate. In fact, because of the time at which the benchmark was calculated (4pm GMT), the local markets would have been closed and hence, because there was less competition, the benchmark would have been easier to fudge.
Why is such manipulation important? Australian superannuation funds that have an international component, such as US shares, are regularly revalued against the market, often on a daily basis. Any manipulation will then directly affect the value of the funds, sometimes up and sometimes down, but most often to the benefit of the banks rather than pensioners.
Under Chairman Greg Medcraft, ASIC has announced <a href="https://www.ft.com/intl/cms/s/0/51e79260-af26-11e3-bea5-00144feab7de#axzz3NusDo4TK">an investigation</a> into possible manipulation of FX benchmarks, which is due to complete sometime early this year. And in a recent chat with journalists, Medcraft declared that Australia was a “<a href="https://www.afr.com/videos/national/medcraft-australia-paradise-for-white-collar-criminals-4yadc5ctryjjokkc4gd3biiv2dka_a0q">paradise for white collar criminals"</a> a comment he <a href="https://www.propertyobserver.com.au/https://www.abc.net.au/news/2014-10-23/asic-backtracks-on-corporate-crime-paradise-comments/5835194">then backed away from</a> after being contacted by the finance minister Mathias Cormann.
At this stage it would be customary to call for an in-depth inquiry into the banking industry and its ethics, but in the wake of the toothless tiger that was the <a href="https://fsi.gov.au/publications/final-report/">Murray Inquiry</a> which had only one reference to LIBOR (in relation to Withholding Tax), such a suggestion would fall on deaf ears. Medcraft has repeatedly made a strong push for additional funding for ASIC and heeding him, the Murray Report has recommended that an “industry funding model” be introduced - that is, “abuser pays”.
If the ASIC inquiry finds evidence of misconduct (and arguably even if it doesn’t in this particular case), the government should promptly allocate all of the funding that the corporate regulator needs. And, more controversially, ASIC, because it is too thinly spread, should be broken up to allow it to concentrate on preventing misconduct in the Australian financial system, if indeed it is such a paradise for white collar criminals.
Less controversially, AFMA is a trade association, governed by its members, the largest banks in Australia and the world. There is an obvious conflict of interest in also being the administrator of the BBSW benchmark. As in the UK, that responsibility should be delegated to <a href="https://www.theice.com/iba">an independent body</a>.
It is also a conflict of interest for any industry body to set the code of conduct for its members’ employees. Though AFMA’s <a href="https://www.afma.com.au/afmawr/_assets/main/lib90010/afma%20code%20of%20ethics%20code%20of%20conduct.pdf">code of conduct</a> specifically forbids market manipulation, the Board contains senior representatives of banks that have been fined for both FX and LIBOR manipulation. Furthermore, the AFMA code has not been updated since the revelations of wide-spread market manipulation; it is bland and ineffectual. ASIC should ensure that proper conduct including financial benchmarks is part of each firm’s corporate code of conduct and is strictly enforced by them.
Pat McConnell is Honorary Fellow, Macquarie University Applied Finance Centre, at Macquarie University.
This article was originally published on <a href="https://theconversation.com">The Conversation</a>. Read the <a href="https://theconversation.com/years-on-asic-still-grappling-with-swap-rate-fixing-scandal-35851">original article</a>.
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po-LsXgBTHBmX

Years on, ASIC still grappling with swap rate fixing scandal

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Mirvac seems to be adding a royal touch to their developments at Yarra's edge, having recently installed a structure on the rooftop of their apartment tower Array.
Next door, the T5 apartment tower is often called the "King" of Yarra's Edge, according to Mirvac group executive residential development John Carfi.
Naturally, this theme has been continued, with Array now featuring a regal sculpture on level 40 - a 65 tonne steel crown, which took 12 weeks and 20 separate modules to install that can be seen from the skyline.
Carfi explained that the vision is to elevate the sight-lines down the busy streets of Melbourne with clever architecture.
"When people peer down Flinders Street they will now see, framed by the city's mix of heritage and contemporary architecture, these two unique buildings crowned in sculptural steel," said Carfi.
Currently, 85% of Array's 203 homes have been sold, with residents to move in during the first half of 2016. It features one, two, three and four bedroom apartments, and includes twin multi-level penthouses.
The East Penthouses has been designed by Megan Hess, using her homewares and artwork. She is best known as the Sex and the City cover designer, the project that launched her career.
"A large proportion of Array purchasers are empty nesters keen to downsize from more demanding properties in the suburbs. Array's location, expansive apartment sizes and diversity of floor plans have been hugely appealing to buyers, with around 60% of purchasers planning to own and occupy," Carfi said.
"This area is forecast to be one of the fastest growing inner-urban areas in Victoria over the next 10 years, and Array purchasers are buying into an exclusive waterside lifestyle in a neighbourhood of award-winning homes with their own full service marina right on their doorstep," he said.
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jduke-EHk3XBmHkn

Mirvac waxes lyrical over their 'King' of Yarra's Edge

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The Australian Capital Territory Civil and Administrative Tribunal (ACAT) has lowered the penalty tax for a couple who operated an investment property while living overseas, but found that being unaware of a tax was no excuse for a failure to pay.
In 2012, Geoffrey Wade and Siew Imm Tan were living in Singapore due to personal circumstances. In April that year, they used an agent, PRD Nationwide, to rent out their Australian property. For two years, from May 2012 to May 2014, the property was leased, and they were liable to pay land tax for the two years.
Neither the couple nor their agent notified the state tax department of the rental agreement within the required 30 days of its commencement. Once the couple were aware of their tax liability, in early 2014, they began paying the land tax off immediately, in installments.
The Commissioner for ACT Revenue decided to impose a penalty tax on Wade and Tan above the default 25% of unpaid tax, at 50%. The 50% rate usually applies if the taxpayer isn't able to provide a reasonable excuse for failing to pay their land tax, and the mistake was caused by a failure of the taxpayer to take reasonable care.
If a taxpayer intentionally disregards tax law, they are usually charged a penalty at 75% of the unpaid tax. The penalty rate can increase to 90% in certain circumstances.
Wade and Tan disputed the 50% penalty rate, arguing that their agent, acting on their behalf, should have notified ACT Revenue that their property was being rented.
They contended that the legislation which saw them incur a penalty of 50% was irrelevant, as it referred to an owner that had not notified the Commissioner of a rental property, not an agent that had not notified the Commissioner.
However, the Commissioner argued that owners were still responsible for declaring a rental property, even in the case where there has been a failure to do so by the agent. Tan and Wade, it was contended, had failed to take reasonable care, and had an obligation to independently figure out their tax obligations.
Ultimately, the Tribunal considered the couple's exceptional circumstances: Tan and Wade had to remain overseas, were unable to access mail from the Commissioner, and had been let down by their agent (who did not appear as a witness). It also noted that Tan and Wade had not heard of land tax, and upon realising they had a tax obligation, immediately began paying their land tax.
It was, however, also noted that the couple had failed to take reasonable steps to ensure they met their tax obligations, and that they couldn't receive a full remission of their penalty tax.
The Tribunal decided to remit 40% of the penalty tax imposed, which meant they were required to pay a 40% penalty tax, rather than the 50% sought by ACT Revenue.
 
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jrichardson-uRX5hFdKfN

ACAT softens penalty tax for unaware couple

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It’s a new year and unsurprisingly home buyers are gearing up to get back into the market looking for a property to buy.
Here are five tips for all home buyers looking to get on the ladder this year.
Pre-approval
If you’ve stopped looking since the close of 2014 then you may be through, or close to, the end of your pre-approval period (or you may not have obtained one yet). While a pre-approval isn’t the same as an actual loan, it will give you the peace of mind to have a guide to what you can actually borrow.
Here’s a <a href="/expert-insights/finance/a-quick-guide-to-home-loan-pre-approval">quick guide to home loan pre-approval</a>. 
Ensure you can afford the repayments
Getting pre-approval for a loan is one thing, but are you sure you can actually afford to repay the amount required each fortnight or month? It’s critical to go through your finances, especially in the new year when changes may be planned, to consider whether different circumstances may lead to hardship later on. Be honest with yourself about your job plans and general stability. It may be worth practicing putting the money aside for repayments to ensure you have the discipline to pay back the loan.
To prepare yourself for debt, here are <a href="/expert-insights/buying/preparing-yourself-for-debt-10-things-to-do-now-to-make-home-ownership-easier">10 things that you can do to make it easier</a>.
Research
If "research" isn't a message that's drilled into you yet, then you may not quite be ready. Research is important! Understanding what properties are worth in the market you are considering, knowing how to negotiate with private treaty sales or the process for bidding at auction – all of this is critical if you want to purchase well.
You can read here the <a href="/expert-insights/how-we-research-when-property-buying-realestateview-com-au">techniques that other buyers tend to use when researching property</a>.
For those still looking for an area, the Finding section will come in handy.
Due diligence
Many of our <a href="/expert-insights/buying/10-first-time-buyer-mistakes-and-how-to-avoid-them">top 10 first home buyer mistakes and how to avoid them</a> are as a result of being rushed or not understanding what is considered due diligence.
Remember, you want to make sure that you purchase a property with open eyes, aware of the nature of the asset and ready for any necessary improvements.
Usually, there are three main things to consider: ensuring the home is structurally sound, undertaking the correct legal checks on the contract so you know what you’re buying and ensuring that you are able to pay a fair price.
If you’re not sure on what counts as due diligence, here’s <a href="/expert-insights/what-is-due-diligence-investment-terms-explained">a quick two minute explanation</a>.
Know your limitations
Lastly, it’s something many of us are poor at – knowing our limitations. While,  it can be easy enough to determine your financial limitations after speaking to a broker, knowing your personal limitations can be harder.
Will you truly be able to commute that far?
Is renovating the home DIY-style really in your skillset?
Can you really put up with not having a car space?
Ask yourself the often uncomfortable questions to ensure that you’re not convincing yourself into the purchase.
What tips do you have for budding first home buyers?
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Five tips for those buying their first home in 2015

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At the close of 2014, the big topic was whether the Reserve Bank (RBA) would actually cut rates this year, with an increasing number of experts forecasting the board would do just this.
It seems consumers may be responding to the speculation, according to Mortgage Choice spokesperson Jessica Darnbrough, who said their statistics show more borrowers choosing variable rates.
“At the beginning of December last year, speculation was rife that the Reserve Bank of Australia could cut the cash rate throughout 2015,” Darnbrough said.
“Ongoing weakness in the Australian and global economy has encouraged some analysts to change their cash rate forecasts to include up to two further rate cuts,” she said.
“While future cash rate cuts are purely speculation at the moment, it would seem the chatter has been enough to encourage more home buyers to take out a variable rate mortgage.”
Victorians are those most keen on variable rates, totalling 85.79% of all home loans written in December. South Australia and Western Australia totalled 82.81% and 82.11% respectively for variable rate loans.
New South Wales borrowers, at the bottom of the pile for variable rates, saw fixed rate demand strong at 30%.
“Australia’s lenders are offering some very sharply priced products at the moment, so regardless of what type of home loan product you eventually decide upon, now is a good time to be a home buyer,” said Darnbrough.
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RBA speculation sees borrowers turn to variable: Mortgage Choice

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Singapore’s Government Investment Corporation has listed the Westin Sydney hotel for sale.
There are reported hopes of more than $400 million for the five star hotel purchased in 2002 for $160 million. 
The sovereign wealth fund sold the Park Hyatt in Melbourne for $135 million last year to Fu Wah International.
The 414-room Westin Sydney has been listed through JLL Hotels.
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Westin Sydney listed with $400 million hopes 

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GUEST OBSERVATION 
According to the theme tune of a popular TV programme, ‘everybody needs good neighbours’, and it seems some streets in Melbourne’s bay side suburbs have got this just right.
Throughout December, several streets in St Kilda and Elwood closed for neighbourhood Christmas parties. In addition to creating a strong community atmosphere, these types of events can also make a location more desirable and have a positive impact on property values over time.
In the City of Port Phillip, Glenmark Avenue and Moodie Place in St Kilda, Leslie Street in St Kilda East and Cyril Street and Heaton Avenue in Elwood are home to close-knit communities that hold street parties over the Christmas period and open houses during Halloween. Properties on these streets command premium prices and attract larger numbers of bidders than surrounding streets, as people look to purchase a slice of this lifestyle. Families in particular are drawn to these types of streets and neighbourhoods.
In addition to offering strong community relations, the presence of many like-minded residents often also results in better quality local resources and facilities, such as neighbourhood houses, schools and community groups. These amenities also act to increase property price, ensuring a sound investment for the future. Not to mention that surrounding yourself with like-minded people often results in long-term friendships.
When buying a property it is crucial to research the local area. Drive through the street at different times of the day and visit the local council to check any building developments or restrictions that are in the planning stages in the area. Speaking to a well-informed local real estate agent can also be beneficial, as they can share their extensive knowledge of the local streets and market.
In addition to researching the local area it is also necessary to hone your research down to the actual street you wish to purchase on. Streets where community pride is valued tend to be more desirable places to live, so the value of property in such streets tends to remain steady or increase, making them a great return on investment.
By investing the time and energy initially by researching a local area and its community, this not only increases your quality of life, but can also pay significant dividends on the resale price of your property.
Michael Townsend is director of <a href="https://www.hodges.com.au/" target="_blank">Hodges St Kilda</a>.
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MichaelTownsend-fvzusRr7mo

You can’t choose your neighbours – or can you? 

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GUEST OBSERVATION
2014 was, for the most part, a solid and steady year for Australia’s residential property market in its major cities.
The Reserve Bank of Australia’s efforts to jawbone the property market down has had little to no effect on our major cities markets’, which have remained steady.
It is likely that interest rates will remain at current levels throughout 2015, with an increasing number of economists even tipping another interest rate fall. These low rates combined with steady demand and confidence from buyers suggests that the market will remain buoyant in 2015.
The New Year is tipped to open strong as a successful spring always leads to a strong opening in February. In 2015, Easter falls early in the year, which will bring forward activity in February and March.
Government intervention into the financial sector, in particular, placing a ban on borrowing to buy property within self managed super funds will cause a slowing in investor demand for property. Furthermore, the government has capped investment loans to 10% of banks capital lending requirements.
Most of the major banks are already at this limit and most of the secondary lenders have already exceeded this limit, the causal effect of this being a ban on investment property loans or credit squeeze – a sure way to destroy confidence and subdue demand.
Unemployment is the elephant in the room, though. Property is all about confidence. A sharp rise in unemployment will cause property markets to stall.
In 2015, it is likely that the strongest sections of the market will be established houses under $2 million within 10 kilometre of Melbourne’s CBD, and established houses under $2 million within 11 kilometres to 20 kilometres from Sydney’s CBD.
Affordability will become the main staller of our markets as median house prices in Sydney reach $800,000 plus and $650,000 plus in Melbourne. These markets have a tendency to self-correct in the long-term though. Population growth is likely to remain strong and supply of detached housing remains in short supply, this will keep prices higher.
Out of all the major cities, Perth is predicted to experience the least growth with values unlikely to increase in the short to medium term as the market absorbs oversupply.
Oil prices have fallen sharply to $60 a barrel. If sustained at these levels, there may be once again a renaissance in the motor vehicle with buyers prepared to make life style choices and commute larger distances.
The Australian dollar has fallen almost 20% over the past 18 months, this will make Australian property cheaper to foreign buyers and expats who are often paid in U.S. dollars.
Despite our forecast of stable conditions in 2015, selecting a property that guarantees good capital growth is a complex process. Many different factors including size, condition, suburb, street, lot location, orientation and broader economic conditions hold bearing on a property’s potential capital growth.
Analysing a property’s historical performance is probably the most important activity to undertake when selecting an investment grade property.
MY PROPERTY TIPS FOR INVESTORS IN 2015
<ul>
<li>Research the market and invest in areas where new infrastructure is planned – this will add amenity to the suburb.</li>
<li>Practice caution when dealing in new property and investor driven markets that are overly influenced by foreign buyers.</li>
<li>An increasing number of homes are being dressed for sale. Look past the gloss and identify potential long-term issues.</li>
<li>Avoid properties in compromised locations, such as next to busy roads. They may appear cheap but are less likely to experience capital growth under slower/normal market conditions.</li>
<li>Acquire property that’s adaptable/suitable to peoples’ current lifestyle needs like properties with sunny northerly aspect rear yards, alfresco outdoor areas and open plan living areas.</li>
<li>Do your homework! Buyers need to put in the time and the effort to complete thorough research into any property purchase to ensure it will perform well in the future.</li>
<li>Investigate comparable sale results, sale history of the property, conduct building and pest inspection reports and review intangible aspects such as locational attributes, street appeal, floor plan, orientation, outlook, future surrounding development, town plans and zoning precincts.</li>
<li>Bid early and hard at auction.</li>
</ul>
State by state forecasts begin on the next page. Please click below. 
<hr class="system-pagebreak">
STATE BASED MICRO 2015 PROPERTY FORECASTS
<table style="width: 460px;" border="0" cellspacing="0" cellpadding="0" align="left"><tbody>
<tr>
<td valign="top" width="453">
Melbourne Property type
</td>
<td valign="top" width="115">
2015 Forecast %
</td>
</tr>
<tr>
<td valign="top" width="453">
Modern units/apartments (legitimate resales, not off-the-plan)
</td>
<td valign="top" width="115">
0 - 4%
</td>
</tr>
<tr>
<td valign="top" width="453">
Established units/apartments
</td>
<td valign="top" width="115">
6 - 8%
</td>
</tr>
<tr>
<td valign="top" width="453">
Prestige market ($5+ million)
</td>
<td valign="top" width="115">
5 - 6%
</td>
</tr>
<tr>
<td valign="top" width="453">
Prestige market ($2 - $5 million)
</td>
<td valign="top" width="115">
6 - 8%
</td>
</tr>
<tr>
<td valign="top" width="453">
Established houses within 10km from CBD (under $2 million)
</td>
<td valign="top" width="115">
7 - 9%
</td>
</tr>
<tr>
<td valign="top" width="453">
Established houses within 11 – 20km from CBD (under $2 million)
</td>
<td valign="top" width="115">
5 - 6%
</td>
</tr>
<tr>
<td valign="top" width="453">
Holiday market
</td>
<td valign="top" width="115">
0 - 4%
</td>
</tr>
<tr>
<td valign="top" width="453">
Mortgage belt (under $500k)
</td>
<td valign="top" width="115">
0 - 4%
</td>
</tr>
<tr>
<td valign="top" width="453">
Development sites
</td>
<td valign="top" width="115">
4 - 6%
</td>
</tr>
</tbody></table>
 
Overarching forecast of Melbourne’s property market in 2015:
<ul>
<li>The low interest rate environment will continue to assist Melbourne’s property market; facilitating strong demand and confidence from buyers. This should result in steady property price growth throughout Melbourne’s most established suburbs.</li>
<li>Introduction of neighbourhood zones in leafy inner areas of Melbourne have effectively shut out developers from areas majority of people want to live. This supply constraint will over time effectively cause prices to rise in these locations as demand will outpace supply.</li>
<li>The oversupply of land and new housing in Melbourne’s growth corridors will contribute to patchy results in these locations.</li>
<li>The ever increasing supply of off the plan properties in Melbourne’s CBD and inner ring will continue to negatively impact new and modern apartments in the city. 
</li>
<li>In short, Melbourne’s property market in 2015 will closely resemble 2014, except it is likely to experience 1 - 2 percentage points less in growth terms.</li>
</ul>
<table style="width: 460px;" border="0" cellspacing="0" cellpadding="0" align="left"><tbody>
<tr>
<td valign="top" width="489">
Sydney Property type
</td>
<td valign="top" width="120">
2015  Forecast %
</td>
</tr>
<tr>
<td valign="top" width="489">
Modern units/apartments (legitimate resales, not off-the-plan)
</td>
<td valign="top" width="120">
+5
</td>
</tr>
<tr>
<td valign="top" width="489">
Established units/apartments
</td>
<td valign="top" width="120">
+5
</td>
</tr>
<tr>
<td valign="top" width="489">
Prestige market ($5+ million)
</td>
<td valign="top" width="120">
-2 to 0
</td>
</tr>
<tr>
<td valign="top" width="489">
Prestige market ($2 - $5 million)
</td>
<td valign="top" width="120">
0 to +5
</td>
</tr>
<tr>
<td valign="top" width="489">
Established houses within 10km from CBD (under $2 million)
</td>
<td valign="top" width="120">
+5
</td>
</tr>
<tr>
<td valign="top" width="489">
Established houses within 11 – 20km from CBD (under $2 million)
</td>
<td valign="top" width="120">
+5 to +10
</td>
</tr>
<tr>
<td valign="top" width="489">
Holiday market
</td>
<td valign="top" width="120">
-5
</td>
</tr>
<tr>
<td valign="top" width="489">
Mortgage belt (under $500k)
</td>
<td valign="top" width="120">
0 to +5
</td>
</tr>
<tr>
<td valign="top" width="489">
Development sites
</td>
<td valign="top" width="120">
+10
</td>
</tr>
</tbody></table>
 
Overarching forecast for Sydney’s property market in 2015:
<ul>
<li>In 2015, stock levels in Sydney will remain historically low while demand for vacant land will remain steady to strong.</li>
<li>Demand from overseas buyers will continue - subject to any FIRB changes.</li>
<li>The entry level market is likely to see good growth.</li>
<li>Granny flat sites will continue to draw in buyers, particularly Chinese and subcontinent investors.</li>
<li>Acreage markets will experience growth, particularly within new land release areas.</li>
<li>New unit prices will stabilise and soften as increasing stock levels drive oversupply. This may cause a reduction in rental returns, particularly within overseas investor driven localities.</li>
<li>The south-west rail line will greatly benefit south-western growth centres.</li>
</ul>
<table style="width: 460px;" border="0" cellspacing="0" cellpadding="0" align="left"><tbody>
<tr>
<td valign="top" width="489">
Adelaide Property type 
</td>
<td valign="top" width="120">
2015  Forecast %
</td>
</tr>
<tr>
<td valign="top" width="489">
Modern units/apartments (legitimate resales, not off-the-plan)
</td>
<td valign="top" width="120">
-1 to + 2
</td>
</tr>
<tr>
<td valign="top" width="489">
Established units/apartments
</td>
<td valign="top" width="120">
-2 to + 2
</td>
</tr>
<tr>
<td valign="top" width="489">
Prestige market ($3+ million)
</td>
<td valign="top" width="120">
1 to 4
</td>
</tr>
<tr>
<td valign="top" width="489">
Prestige market ($1.5 - $3 million)
</td>
<td valign="top" width="120">
1 to 4
</td>
</tr>
<tr>
<td valign="top" width="489">
Established houses within 10km from CBD (under $1 million)
</td>
<td valign="top" width="120">
1 to 4
</td>
</tr>
<tr>
<td valign="top" width="489">
Established houses within 11 – 20km from CBD (under $1 million)
</td>
<td valign="top" width="120">
-1 to + 2
</td>
</tr>
<tr>
<td valign="top" width="489">
Holiday market
</td>
<td valign="top" width="120">
-2 to + 2
</td>
</tr>
<tr>
<td valign="top" width="489">
Mortgage belt (under $500k)
</td>
<td valign="top" width="120">
-3 to + 2
</td>
</tr>
<tr>
<td valign="top" width="489">
Development sites
</td>
<td valign="top" width="120">
-5 to 0
</td>
</tr>
</tbody></table>
Overarching forecast for Adelaide’s property market in 2015:
<ul>
<li>Record low interest rates have been a key driver of growth from late 2012 onwards. During 2014 demand has generally exceeded supply in the inner ‘blue chip’ suburbs resulting in a ‘sellers market’.</li>
<li>Affordability continues to become an issue - we have seen very strong growth for infill development in the middle north-eastern and south western suburbs during 2014. Growth in this segment is expected to slow into 2015.</li>
<li>Increasing unemployment in the manufacturing sector and recent reductions in government grants will continue to have a negative impact in some segments of the market; particularly in the outer mortgage belt areas to the north.</li>
<li>In general we expect that most segments will normalise in the middle and inner suburbs during the later part of 2015.</li>
</ul>
<table style="width: 460px;" border="0" cellspacing="0" cellpadding="0" align="left"><tbody>
<tr>
<td valign="top" width="489">
Perth Property type
</td>
<td valign="top" width="120">
2015  Forecast %
</td>
</tr>
<tr>
<td valign="top" width="489">
Modern units/apartments (legitimate resales, not off-the-plan)
</td>
<td valign="top" width="120">
-5 to 0
</td>
</tr>
<tr>
<td valign="top" width="489">
Established units/apartments
</td>
<td valign="top" width="120">
-5 to 0
</td>
</tr>
<tr>
<td valign="top" width="489">
Prestige market ($5+ million)
</td>
<td valign="top" width="120">
-5 to 2
</td>
</tr>
<tr>
<td valign="top" width="489">
Prestige market ($2 - $5 million)
</td>
<td valign="top" width="120">
-5 to 2
</td>
</tr>
<tr>
<td valign="top" width="489">
Established houses within 10km from CBD (under $2 million)
</td>
<td valign="top" width="120">
-2 to 3
</td>
</tr>
<tr>
<td valign="top" width="489">
Established houses within 11 – 20km from CBD (under $2 million)
</td>
<td valign="top" width="120">
0
</td>
</tr>
<tr>
<td valign="top" width="489">
Holiday market
</td>
<td valign="top" width="120">
-5 to 0
</td>
</tr>
<tr>
<td valign="top" width="489">
Mortgage belt (under $500k)
</td>
<td valign="top" width="120">
-2 to + 3
</td>
</tr>
<tr>
<td valign="top" width="489">
Development sites
</td>
<td valign="top" width="120">
-2 to + 3
</td>
</tr>
</tbody></table>
Overarching forecast for Perth’s property market in 2015:
<ul>
<li>Whilst low interest rates will in time rekindle buyer confidence and stimulate market activity, values are unlikely to increase within the short to medium term as the market absorbs the oversupply.</li>
<li>The slow-down in the resources sector is likely to see a further reduction in activity.</li>
</ul>
<table style="width: 460px;" border="0" cellspacing="0" cellpadding="0" align="left"><tbody>
<tr>
<td valign="top" width="489">
Brisbane Property type
</td>
<td valign="top" width="120">
2015  Forecast %
</td>
</tr>
<tr>
<td valign="top" width="489">
Modern units/apartments (legitimate resales, not off-the-plan)
</td>
<td valign="top" width="120">
0 to 5
</td>
</tr>
<tr>
<td valign="top" width="489">
Established units/apartments
</td>
<td valign="top" width="120">
0 to 5
</td>
</tr>
<tr>
<td valign="top" width="489">
Prestige market ($5+ million)
</td>
<td valign="top" width="120">
steady
</td>
</tr>
<tr>
<td valign="top" width="489">
Prestige market ($2 - $5 million)
</td>
<td valign="top" width="120">
steady
</td>
</tr>
<tr>
<td valign="top" width="489">
Established houses within 10km from CBD (under $2 million)
</td>
<td valign="top" width="120">
0 to 5
</td>
</tr>
<tr>
<td valign="top" width="489">
Established houses within 11 – 20km from CBD (under $2 million)
</td>
<td valign="top" width="120">
0 to 5
</td>
</tr>
<tr>
<td valign="top" width="489">
Holiday market
</td>
<td valign="top" width="120">
steady
</td>
</tr>
<tr>
<td valign="top" width="489">
Mortgage belt (under $500k)
</td>
<td valign="top" width="120">
0 to 5
</td>
</tr>
<tr>
<td valign="top" width="489">
Development sites
</td>
<td valign="top" width="120">
steady
</td>
</tr>
</tbody></table>
Overarching forecast for Brisbane property market in 2015:
<ul>
<li>Minimal upward movement for land prices.</li>
<li>Good demand for new house and land packages.</li>
<li>Lot production continues to rise and expected to reach 9,000 lots per annum by 2015/16.</li>
<li>More positive local economic conditions.</li>
<li>Residential and Commercial construction markets are likely to improve further.</li>
<li>Relatively higher rental yields.</li>
<li>Increase in interstate migration and move to lifestyle property.</li>
</ul>
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gpabst-nAfzC8fgsR

Melbourne inner ring house prices to increase by 9%: My 2015 forecasts

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Hi Margaret,
Can I move out from my own unit and rent a bigger place to live and claim my unit as an investment unit?
Kind regards,
Ramin
 See Margaret Lomas' answer on the next page.
<hr class="system-pagebreak">
Hi Ramin,
You can move out of your principal place of residence, rent out your former home and claim all expenses and interest costs as a tax deduction as soon as it becomes available for rental, and as long as you also declare the income you receive. 
If you don’t have another property that you can apply your principal place of residence exemption to (for example, if you rent where you live) then you can have up to six years exemption from capital gains tax too, at the end of which you will need to either move back in, or sell.
Whether you should rent it out or not is another thing entirely.  Here are some things to consider:
<ol>
<li>If the loan on your home is presently quite low, and the one on any new family home you intend to buy is larger, then potentially you might be upside down from a financial perspective.  As your own home is non- deductible, then the interest repayments might be a high, non- deducible amount while those on your newly created investment property would be low, and a taxable profit situation may result. In this case it may be better to sell the family home while it is still capital gains tax free, use the proceeds to buy your new home with a low loan, and then use the equity to get a fully deductible loan to buy an investment property elsewhere. 
</li>
<li>It’s rare that people happen to live in an up and coming hotspot – therefore keeping the current home may not be the best investment.  It’s easy to think that you live in a great area but the reality is that it might not have the fundamentals required to perform well from both a yield and growth perspective.  Therefore, keeping it becomes an opportunity cost or not buying a better investment in a better performing area. 
</li>
<li>It can be very difficult to watch a tenant move into a home that was once your pride and joy.  It’s a fact that it simply won’t be treated how you want it to, and your emotional attachment may make you a bad landlord!</li>
</ol>
I have rarely seen the best option being to keep a former Principal Place of Residence. At this stage you need some good advice from a qualified property investment adviser who can help you make this decision as a part of a complete strategy which considers all of your financial and investing needs, rather than just this single, short term decision.
Regards,
Margaret
Have a property question? <a href="mailto:askmargaret@propertyobserver.com.au" target="_blank">Ask Margaret!</a>
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