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>
Designed by society 1930s architect Marcus Martin, the revamped 3 Marne Street, South Yarra trophy home has been sold.
<a href="https://www.realestateview.com.au/Real-Estate/3-marne-street-south-yarra/Property-Details-buy-residential-6603443" target="_blank">The recently modernised </a><a href="https://www.realestateview.com.au/Real-Estate/3-marne-street-south-yarra/Property-Details-buy-residential-6603443" target="_blank">five bedroom house</a> has five living areas that sit around its portico with pool, which is now outdoors. 
Its initial asking price was $13 million through conjunctional agents Justin Long of Marshall White and Andrew Baines of Kay &amp; Burton, adjusted by mid-2014 to $12.5 million.
No final sale price has been revealed as to what was secured by rag trader Katherine Strover.
Neurosurgeon David Wallace had sold the 962 square metre holding in 2012, having been there since 1977.
Then listed with $8 million plus hopes, it last sold in 2012 for $6.25 million.
</body></html>

jchancellor-FAypfDUnLy

Marcus Martin-designed 1930s Marne Street, South Yarra trophy home sale

<html><body>
The former administrators of retail franchise Pie Face have hit back at calls for an inquiry into their management of the voluntary administration process, claiming they did not receive one “bona fide” offer to purchase the company that was on par with the outcome delivered to creditors from the Deed of Company Arrangement (DOCA) in December.
Pie Face emerged from <a href="https://www.smartcompany.com.au/finance/44731-pie-face-plunges-into-administration" target="_blank">voluntary administration</a> late last month after creditors voted to support a DOCA to avoid liquidation. The chain will now be headed up by former director Andrew Thomson as chairman, with co-founder Wayne Homschek to remain on the board.
Twenty Pie Face outlets <a href="https://www.smartcompany.com.au/growth/franchising/44816-pie-face-company-stores-in-melbourne-close-ahead-of-meeting-with-franchisees-next-week" target="_blank">closed during the administration</a>, affecting 130 part-time employees and reducing the chain’s store footprint to approximately 50 stores.
But Stan Gordon, chief executive of the Franchised Food Company, <a href="https://www.smartcompany.com.au/finance/45146-reheated-pie-face-emerges-from-voluntary-administration">claimed yesterday</a> the administration process was “disgraceful”.
Gordon said the administration process was “not all it seems” and described the information memorandum he received about the business as “atrocious”.
Gordon had previously <a href="https://www.smartcompany.com.au/finance/investment/44911-cold-rock-ice-creamery-makes-bid-for-pie-face" target="_blank">put his hand up to buy the Pie Face chain</a> but said in November his calls to administrators Jirsch Sutherland went unanswered.
He said this week he was contacted by several Pie Face franchisees once his bid for the company was made public and now believes there should be an inquiry into how the administration was managed.
“Questions must be raised about the process and the administrator,” Gordon said.
But Jirsch Sutherland managing director Sule Arnautovic said the administrators only received one offer for part of the Pie Face Group but the offer was not “remotely close” to the proposed returns of the DOCA.
Arnautovic says the offer “was not adequately quantified”, did not address employee entitlements amounting to around $3.5 million under the DOCA, or the secured debt of creditor TCA Global Fund Management and other convertible note-holders. Outside of the DOCA, arrangements have been made to pay around $2.2 million to TCA Global and around $7.3 million to other convertible note-holders.
The offer also did not offer any returns to statutory or trade creditors and did not address the administrators’ trading costs and liabilities, says Arnautovic.
“The offer party basically only received our information memorandum, which was only a summary of the proposed sale transaction,” he says.
“They never made any subsequent appointments with the administrators or the Pie Face management team to conduct further due diligence, which would be necessary to effect a sale of business.”
Arnautovic says approximately $7.5 million is earmarked for the DOCA funds for the companies in the Pie Face Group, which includes around $2.8 million upfront in cash and trading receipts and around $4.7 million over three year from future trading.
Of the funds, unsecured creditors of Pie Face Holdings are expected to receive between 16-18 cents in the dollar over an eight month period. Unsecured creditors of Pie Face Franchising will receive between 14-17 in the dollar over a three month period, while unsecured creditors of Pie Face Pty Ltd can expect between 14-19 cents in the dollar over a three year period.
Employee entitlements for all three companies will be paid in full, while secured creditors of the companies will receive $9.5 million, to be paid outside of the DOCA arrangements.
In comparison, Arnautovic says the offer party would have had to have paid “north of $15 million” for the period between November 21 and December 30 “to be remotely competitive”.
“The offer party was nowhere near this amount if one could actually quantify their offer,” he says.
“The administrators are disappointed with the offer party, who appears to have breached their non-disclosure agreements, reading recent press reports, with the Pie Face companies.”
Speaking to SmartCompany today, Gordon disputed claims that Jirsch Sutherland only received one offer for the Pie Face business. 
Gordon says, based on correspondence with the administrators, he was under the impression they had received multiple offers for the business. He added that he was given just days over the Christmas break to make his offer based on limited information about companies in the Pie Face Group. 
This article first appeared on <a href="https://www.smartcompany.com.au/" target="_blank">SmartCompany</a>.
</body></html>

ekeating-PWvazjYE25

Pie Face administrators claim to have received no “bona fide” offers to buy company

<html><body>
GUEST OBSERVATION
Several Australian cities, such as <a href="https://www.propertyobserver.com.au/https://www.abc.net.au/news/2015-01-01/south-australia-to-swelter-as-heat-spell-looms/5995690" target="_blank" style="font-family: Tahoma, Helvetica, Arial, sans-serif; font-size: 12px; line-height: 1.3em;">Adelaide</a> and <a href="https://www.perthnow.com.au/news/western-australia/heat-warning-as-temperatures-in-perth-forecast-to-soar-to-41c/story-fnhocxo3-1227174069845?nk=c20318fc5326e96c7db65d276cba3cb3" target="_blank" style="font-family: Tahoma, Helvetica, Arial, sans-serif; font-size: 12px; line-height: 1.3em;">Perth</a>, have greeted 2015 with scorching weather as summer hits its stride – the kind of conditions that leave us crying out for an air conditioner, rather than dreaming of barbeques and beach trips.
Yet new research shows that Australians could end up feeling even hotter than expected over the next few decades, as changing weather conditions make climate change feel even more severe than it is. That’s bad news for Sydney and Brisbane, where sweltering humidity is set to rise.
In contrast, freshening summer winds in Perth, Adelaide and Melbourne could grant residents some relief by mitigating the apparent effects of rising temperatures. The mercury will still rise, but perhaps it won’t feel quite as sweltering as we would expect.
Feeling the heat
Days upon days of extreme heat make us feel irritable, uncomfortable and, in the worst cases, unable to cool down at all. Stifling conditions during the day, with no relief at night, place <a href="https://theconversation.com/how-heat-can-make-your-body-melt-down-from-the-inside-out-22042" target="_blank">physical stress on our bodies</a>. During heatwaves, vulnerable citizens such as the elderly, young children and the physically ill have a higher risk of adverse health effects. In some cases the stress can become too much, resulting in death.
In January 2009, a week before the devastating Black Saturday bushfires, <a href="https://docs.health.vic.gov.au/docs/doc/F7EEA4050981101ACA257AD80074AE8B/%24FILE/heat_health_impact_rpt_Vic2009.pdf" target="_blank">374 people</a> lost their lives as a result of heat-related stress during a three-day record heatwave in Melbourne. This was more than twice the number that died during the fires. Despite the implementation of <a href="https://docs.health.vic.gov.au/docs/doc/479050E85C879831CA257D8C0015FD87/%24FILE/Heat%20health%20alert%20system_guidance%202014%20-%202015.pdf" target="_blank">heatwave alert systems</a> in some Australian cities, many people are still vulnerable. An estimated <a href="https://www.propertyobserver.com.au/https://www.abc.net.au/news/2014-10-13/january-victorian-heatwave-deaths-up-24-per-cent/5810176" target="_blank">167 people</a> lost their lives during Melbourne’s heatwave in January 2014.
Keep your cool
The human body’s ability to withstand heat stress depends on being able to shed excess heat, often through sweating, to keep our core temperature at an optimal 37C. Very warm outdoor temperatures, or excessive exposure to the sun, heat our bodies. However, shedding that heat depends not only on the surrounding air temperature, but also on factors such as humidity and wind speed, both of which affect our ability to sweat effectively.
This can mean that the heat we think we feel is not necessarily the same as the air temperature we measure. That’s why a 35C day in Brisbane can feel so much worse than a 35C day in Melbourne!
Taking account of these factors allows meteorologists to predict what the weather conditions will “feel like” to an average person. For example, the Bureau of Meteorology uses a measure called the <a href="https://www.bom.gov.au/info/thermal_stress/" target="_blank">apparent temperature</a>. Measuring weather conditions in this way provides a better idea of when conditions are dangerous to health, so that appropriate warnings can be issued.
This article continues on the next page. Please click below.
<hr class="system-pagebreak">
Which cities will fare the best?
Many recent studies show that <a href="https://theconversation.com/climate-council-heatwaves-are-getting-hotter-and-more-frequent-23253" target="_blank">extreme heat is increasing</a> around Australia, <a href="https://theconversation.com/human-hands-are-all-over-australias-hottest-ever-year-32267" target="_blank">mostly as a result of human-induced climate change</a>. But are we actually feeling any hotter? <a href="https://www.sciencedirect.com/science/article/pii/S0921818113001343">Recent work</a> by one of us (S.J.) showed that alongside the increase in air temperature, the apparent temperature (how we feel), has also changed across Australia.
In Sydney and Brisbane, the apparent temperature has increased by 1C since the 1950s, but the actual temperature has only increased by 0.5C. This means that what felt like 29C in the 1950s now feels like over 30C, on average. This is because the humidity has increased and it is slightly less windy on average in both locations. These muggier conditions make the weather feel hotter, as the body is unable to shed excess heat as effectively.
Perth, Adelaide and Melbourne fared better. Although, on average, it is nearly 1C warmer now than in the 1950s, people in these cities may not actually feel warmer. This is because it is also typically windier, so sweat can evaporate more effectively when it is hot, making us feel cooler than the real temperature suggests.
The largest trends in apparent temperature were found in Western Australia, with the Pilbara and the Wheatbelt hit hardest. In these regions, what felt like 38C in the late 1970s now feels like 41C, on average, potentially increasing the risk of heat stress to miners and farmers alike.
It’s getting hot in here
In the future, Australian heatwaves will likely become <a href="https://theconversation.com/more-angry-more-often-march-heatwave-signals-a-new-normal-13068" target="_blank">hotter, longer and more frequent</a> as the climate changes. But what are the consequences for the risk of heat stress?
Future changes in apparent temperature are somewhat uncertain. While we are confident of the forthcoming increases in temperature, we are less certain about how humidity and wind will change. Regardless, the data suggest that apparent temperatures will increase in most Australian regions – so wherever you are, it’s likely you’ll feel the rise in temperatures.
But the speed of the perceived warming is also important if humans are to adapt. If things get too hot to handle too quickly, communities will have little time to adjust, resulting in a dangerous situation for health.
The largest changes will be in Australia’s southeast, where climate models suggest that for the millions of people in Melbourne and Sydney, future summers will feel like they are warming even faster than the real temperature suggests, because of an increase in humid days. Residents in these cities will therefore be at a higher risk of heat stress when a heatwave strikes.
Meanwhile, in the southwest, Perth’s drying climate will act to slow the rate of perceived warming, enabling residents to adapt more easily to the new conditions.
Human-induced climate change is happening and we are already starting to feel the effects. Coping with the infamous Australian summer is already difficult, but in the future it might become even more stressful for some.
Stephanie Jacobs is a PhD candidate at Monash University.
Ailie Gallant is a ARC DECRA Fellow, School of Earth, Atmosphere and Environment at Monash University.
This article was originally published on <a href="https://theconversation.com" target="_blank" style="line-height: 1.3em;">The Conversation</a>.
</body></html>

po-LsXgBTHBmX

Bad luck, Brisbane: muggy cities will feel future heat even more

<html><body>
The High Court of Australia has sided with the Commissioner of State Revenue in a stamp duty disagreement over Docklands developments.
In the decision, made last month, the High Court ruled that the Commissioner was entitled to reference the entire value of a development agreement, rather than just the sales contract value, when assessing stamp duty payable.
Developer Lend Lease made an agreement with VicUrban in 2001 to purchase Docklands land parcels, with Lend Lease to develop and sell large residential and commercial properties on the land. Both Lend Lease and VicUrban agreed to contribute infrastructure, including a bridge, a park and a road extension, on and around the land.
Under the development agreement, Lend Lease was required to pay additional amounts to VicUrban beyond what was outlined in the sales contract. The additional payments included compensation for infrastructure and remediation, as well as a portion of proceeds received by Lend Lease when they sold properties on the land.
Lend Lease objected to the Commissioners assessment of the stamp duty payable, which referenced the entire quantity paid by Lend Lease as part of the development agreement. The developer argued that the consideration paid for each parcel of land only included the amount specified in the sales contract.
However, the High Court disagreed. In the decision, reference was made to a dispute in 2005 between Dick Smith Electronics and the Commissioner. In that case, the majority held that the total consideration included the buyer's execution of several promises outlined in an agreement which contributed to the overall sum, as the vendor would not have transferred the asset (in that instance, a bundle of shares) if the buyer hadn't taken those actions.
After the Commissioner disallowed Lend Lease's initial objections to his assessment, Lend Lease launched an appeals process which saw the High Court ultimately agree with the Commissioner's assessment. Lend Lease has stated that it respects the High Court's decision.
</body></html>

jrichardson-uRX5hFdKfN

High Court rules stamp duty consideration extends beyond sales contract value

<html><body>
Strong investor interest in the caravan park and retirement village market is continuing, with Sea Wings Village at Anna Bay sold for $6,993,000. It is an over 55s resort at Frost Road, Anna Bay.
The sale of the Port Stephens located village was negotiated by Ray White Commercial Burleigh’s Sam Johnson on behalf of a private seller. It is just one of four caravan parks sold in the Tweed region this year already, with the transactions totalling more than $12 million.
“This latest transaction was conducted off market,” said Johnson.
Multiple offers were achieved on the back of his database within 48 hours of sending out information about the property.
It includes 150 manufactured houses, a manager’s office and residence, swimming pool, tennis court and community hall. The business earns a gross annual income of $1 million per annum.
“Caravan parks and manufactured housing estates are playing an increasingly important role in meeting the housing requirements of the ageing population in Australia,” he said.
“Both institutional investors and cashed up private investors are entering this sector of the market, chasing the secure income afforded by these assets.”
The new owner is a Sydney-based private fund.
</body></html>

jduke-EHk3XBmHkn

Investors entering caravan and retirement village markets: Ray White

<html><body>
Construction is underway on Brookfield Residential Properties’ Portside Wharf development, with Pinnacle, the riverfront apartment building, set to be completed by mid year.
<a href="https://www.pinnacleportside.com.au" target="_blank">Portside Wharf</a>'s Pinnacle spans 15 levels and has obtained $85 million worth of sales, now more than 65% sold with one penthouses, six river terraces, two three bedroom apartments and a mix of two bedroom apartments remaining. The two bedroom apartments are priced from $590,000.
Link will be complete in early-2015, with their 32 one bedroom apartments sold out for more than $13.5 million. Construction is currently at level four and the development features 522 square metres of retail space.
Regional director for Brookfield Residential Properties Lee Butterworth said that construction will now be focused on the external façade and landscaping.
"The buildings are quickly taking shape and buyers can see that the standard of build and fittings are top quality," he said.
"We have opened our first display in Pinnacle so buyers can experience first hand what it would be like to live directly on the river in a vibrant precinct like Portside Wharf.”
Pinnacle is the premier apartment building in the development, featuring a rooftop infinity pool, bbq and entertainment area, gym and onsite security.
"We expect sales will ramp up as construction nears completion and buyers realise the wait to move into their brand new apartment is quickly nearing the finish,” Butterworth said.
The river terraces include al fresco living and entertaining with terraces spanning up to 54 square metres. A number have private access to the wharf.
<img src="/images/2015/01/06/pinnacle-jan-6-two.jpg" alt="">
"The owner occupier market has really taken off and sales have ramped up as buyers look for a riverfront location with access to everything," he said.
"In terms of position, Portside Wharf is unmatched when it comes to accessibility to its retail plaza, as well as its proximity to the CBD, airport, the CityCat and motorways including direct access to Kingsford Smith Drive, which is set to become a six lane boulevard under new state government plans.”
Within the precinct, 35 retailers are now in residence.
"Our retail precinct continues to grow, with the current retail space almost completely occupied and more in the pipeline upon the completion of both Link and Pinnacle," he said.
"Portside Wharf offers a great mix of fine dining, cafes, beauty, entertainment, services and conveniences, including a Dendy Cinema, IGA supermarket, Ella Bache, barber shop and dentist.”
Apartment buildings Promenade, Loft, Infinity and Flare are already complete, with just one apartment in Promenade priced at $635,000 for a two bedroom, two bathroom option.
</body></html>

Pinnacle, Portside Wharf gearing up for mid-year completion

<html><body>
Two Melbourne men, Najam Shah, 55 of Glen Waverley, Victoria and Aizaz Hassan, 34, of Truganina, Victoria have been arrested and charged following an ASIC investigation into the alleged use of false documents in support of loan applications valued at about $110 million.
Shah and Hassan have been charged with one count each of common law conspiracy to defraud, according to an ASIC release.
The charges relate to the men’s roles at a Footscray company, Myra Home Loan Pty Ltd trading as Myra Financial Services (no longer trading).
It is alleged that between April 2008 and December 2011, Shah and Hassan conspired to defraud 12 lenders, banks and other financial institutions, by creating and using false documents to support loan applications submitted on behalf of Myra clients.
The false documents included bank statements, payslips, citizenship certificates and statutory declarations. These were predominantly used in support of applications for home loans for house and land packages as well as for the purchase or refinance of existing homes. 
At least 350 loans valued at $110 million were submitted and approved on behalf of Myra clients.
The alleged conspiracy involves submission of false documents for more than 300 loan applications to numerous banks and financial institutions, including the Commonwealth Bank of Australia, Westpac Banking Corporation, St George Bank, Bankwest, Adelaide Bank, ANZ, Bank of Queensland, Choice Home Loans, Citibank, National Australia Bank, Pepper Homeloans and Suncorp Bank.
Property Observer gleans the company was established in 2006 out of Whitehall Street premises.
The offence carries a maximum penalty of 15 years imprisonment.
Shah appeared at the Melbourne Magistrates’ Court and Hassan before a bail justice on 2 January 2015.
Shah and Hassan were bailed on conditions including that they report to police twice a week, surrender valid passports or any other valid travel documents and not apply for any other, not attend any points of international departure and not leave Australia.
Both men are to reappear at the Melbourne Magistrates’ Court on 17 April 2015.
Manija Zayee, Shah’s partner and former Myra director, has also been charged on summons in connection with this matter with one charge of obtaining a financial advantage by deception. Zayee is to appear at the Melbourne Magistrates’ Court on 27 January 2015.
It is alleged that Zayee submitted false documents in support of a loan application for a home loan, in her own name, in September 2009.
The matters are being prosecuted by the Commonwealth Director of Public Prosecutions.
</body></html>

Arrests follows after 12 lenders caught in alleged $110 million Myra Home Loans fraud

<html><body>
GUEST OBSERVATION
People downsize to apartments or smaller houses for a number of reasons. 
Regardless of what that may be, whether it’s to save money, release equity in your mortgage, or because your children have moved out — downsizing comes with a set of specific challenges. 
Take the three below factors into consideration to make the process as seamless and stress-free as possible.
<img src="/images/2014/07/04/yellow-one.jpg" alt="">Do your research 
Moving houses is inevitably stressful, and moving to a smaller home has the potential to cause further angst. Downsizing your home will undoubtedly leave you with less entertaining and storage spaces than your previous property.
To ensure that you don’t compromise the lifestyle you wish to live in your new home, it’s worth doing some comprehensive research to compare different properties and neighbourhoods. This will allow you to get a solid idea of whether a smaller property will be able to meet your lifestyle needs.
Tips:
<ul>
<li>Entertain outside your home — Downsizing to a smaller property often means that your indoor and/or outdoor entertaining areas are compromised. If you enjoy entertaining guests but will not have the space in your new home, make sure you choose a neighbourhood that has appealing public areas for entertaining such as cafes, wine bars, parks and beaches.</li>
</ul>
<ul>
<li>In the same way, if you are somebody who enjoys regularly eating out, consider the cafes and restaurants in the area to make sure that the local area doesn’t detract from your lifestyle.</li>
</ul>
<ul>
<li>Assess the property’s storage areas — Consider whether there will be enough space and storage for your furniture and belongings. Downsizing doesn’t mean you have to get rid of all of your belongings. Look for properties that have innovative storage spaces, such as under-stair cupboards, underground storage, or a loft.</li>
</ul>
<ul>
<li>Check out the local facilities — Take a look at the local transport links, leisure facilities, and public services in the area. Many vendors spend too much time considering the property itself and don’t take the neighbourhood itself into mind.</li>
</ul>
<img src="/images/2014/07/04/yellow-two.jpg" alt="">Try before you buy
Downsizing your home involves a great deal of planning and adapting, so it’s very important that your new property and neighbourhood are suitable.
Many people plunge straight into buying a new home when they downsize, but you should consider renting in your desired area first. It’s even a good idea to test out a few different neighbourhoods by using a service such as AirBnB. That way, you’ll be able to see if you like living in an apartment or would prefer a small house, which area suits your lifestyle best, and so on.
Renting for a short period of time when you initially downsize is a clever way to protect your investment and to ensure you have found the property and neighbourhood best suited to your needs.
Consider:
<ul>
<li>Privacy — Downsizing can sometimes mean less privacy. If you’re not used to apartment living, make sure to consider the additional noise that comes with apartment blocks.</li>
</ul>
<ul>
<li>Whether the property is ready to move into — If saving money or releasing equity is your priority, the last thing you want to do is invest the money you save into updating your new property. Assess any repairs and updates that are required, and factor them into your budget.</li>
</ul>
<ul>
<li>Your priorities — If you can remain flexible when it comes to location, you will stand a better chance of finding a property that meets your needs. Where you move depends on your priorities; if your priority is to save money, moving to a different area may deliver even bigger savings.</li>
</ul>
<img src="/images/2014/07/04/yellow-three.jpg" alt="">Plan and rationalise
One of the most challenging factors of downsizing is adapting to the greatly reduced living spaces. You will likely need to get rid of some of your furniture and belongings (or at least place them in storage). This process has the potential to become incredibly stressful, particularly if you’re moving into a far smaller property, but this can be eased if you give yourself enough time to plan and rationalise your belongings.
This way, you might even enjoy the process of culling the unnecessary belongings you have been hoarding.
Tips:
<ul>
<li>Be ruthless — If you haven’t used an item in 12 months, then it has to go. There’s no sense in keeping old belongings that are simply gathering dust in a drawer.</li>
</ul>
<ul>
<li>Make the process fun by getting a friend or family member to help you go through your belongings systematically.</li>
</ul>
<ul>
<li>Consider giving unwanted items to charity, sell them on eBay or Gumtree, or hold a garage sale. One man’s trash is another man’s treasure!</li>
</ul>
<ul>
<li>Avoid putting unnecessary furniture and belongings into storage. This is particularly important if you are renting before making a permanent decision to downsize.</li>
</ul>
Downsizing involves a number of decisions that affect your lifestyle, financial situation and overall happiness, so it’s important to feel that you have made the right decision.
It is an exciting move that will allow you to unlock more disposable income, simplify your life and achieve your downsizing goals.
Take these points of advice into real consideration to make the most of this new move and to ensure the transition is a smooth and successful one.
Zoe Pointon is the co-founder of real estate ranking and review startup <a href="https://www.openagent.com.au/" target="_blank">OpenAgent</a>.
</body></html>

ZoePointon-H4vyN8dQrS

Three factors to consider when downsizing to a smaller property

<html><body>
Over recent years I have always waited until late in January to look at predictions for the coming New Year, but this year I am breaking that habit.
2014 was an extraordinary year for the residential property market. Across the board for new apartment projects, for the house and land sector and for established homes nobody needs to be told it was an amazing year.
Although led by Sydney, there have been big market movements nationally. However I think that we shouldn’t forget that this market has now been with us since the second half of 2013. Those six months were also very hectic and trends have continued now for 18 months and so as we move into 2015 that’s the first point to keep in mind.
But first I would like to take a quick look at some of the suggestions that were made about what might happen in 2014. For buyers I noted that it would be a good idea to have a plan of attack, that is I suggested buyers needed to remain alert and do their homework and research to help find the best opportunities and the best price and so not miss out on finding that ideal property. Certainly I think that was sound advice as markets did move rapidly and if caught napping, then buyers missed out. Today Sydney remains largely a sellers market, but will that continue for all of 2015?
Some of the other headlines included the prediction that ‘Higher House Prices Were Here To Stay’ which proved in the main to be correct, and in many markets that was a bit of an under statement, as auction clearance rates broke previous records and many new apartments for sale off the plan hit the market at record prices.
Another key trend forecast was the difficult outlook facing first time buyers, and in that area again predictions of more difficult times ahead did unhappily I admit, prove to be accurate and that’s despite continued low interest rates. Some of the other key points highlighted included the important role the delivery of infrastructure projects would play, not only for markets, but in the wider economy.
The continued strong influence of property investors was also accurately highlighted and investors are now aggressively driving selected markets. Another driver of activity was the recovery of supply anticipated in 2014, and while supply has improved there is still some way to go.
Interest rates, the fate of the Aussie dollar, rising unemployment, state planning, the Federal Tax Review and Federal Budget and China’s growth prospects were also big picture issues on the horizon at the start of 2014. And so now what’s the outlook for 2015, will it be more of the same or will the 18 month long bull-market start to run out of charge?
Some Issues Remain, Others Join the List
If the last 18 months look extraordinary then the next 12 months look even more so. The list of factors that will come together to make up the fortunes of the housing market for developers, buyers and sellers is long. It includes the direction of house prices, employment, the many aspects of the finance sector, interest rates, affordability, demographic shifts, government planning policy and the emergence of new product, plus others. Overall though I get the general feeling that we are entering 2015 in a slightly pessimistic disposition, consumers are a bit restless, and we may all need to be more assiduous in 2015.
Perhaps the one big question is what direction will house prices take in 2015, it’s a good starting point as prices are the most visible sign of any shift in market sentiment. I think that one overriding factor is that prices will become much more segmented, area and product related, and this is a trend already apparent.
This may well see pockets of higher demand and higher prices, but other factors will act to make the trend far less general, higher prices will not be universal. The variants between a sellers market and a buyers market may be shifting and there is already some price resistance building. Despite that, we continue to see keenly contested auction results. I think markets will be more fragmented, more regional, and anticipating any fall in prices looks unlikely.
The level of interest rates and un-employment will be key factors in 2015 and to an extent both are linked. This time last year there was an expectation that rates would have seen a possible increase mid-year, but that did not happen, rates did rise in New Zealand and there is now the expectation of a rate increase soon in the USA, but both of these economies are different from ours, and now locally a rate cut or two looks more certain in 2015. The collapse of commodity prices is a big factor and there is little reason to expect a quick recovery.
Any move in rates either way will end a long period of stability, but with continued upward pressures on unemployment figures, a cut looks certain if only to help encourage more jobs. Jobs are now a very real issue as even the mining industry is shedding jobs.
There are concerns however that any rate cut could add more pressure to the housing market, and the federal government appears not to be interested in any measures to dampen the housing market in any way, largely because construction is a big driver of activity and employment. If lower rates bring more buyers into the housing market, then despite the banks protesting, some loan or other restrictions may be warranted.
However if unemployment increases, the rental market will cool and this may well influence investor sentiment. And we are yet to see how the banks will react to lower rates, given the home-loan market is already very competitive.
Last November the unemployment rate was 5.8%, and today that figure is 6.3%, official rates were and remain at 2.5%, the last cut in rates was August 2013. It is reassuring that the Reserve Bank has held rates thus far, because in 2015 they will have room to make cuts, which would not have been an option if cuts had been made sooner.
</body></html>

pchittenden-eLqUUC8TWW

The residential property outlook for the year ahead

<html><body>
The Commonwealth Bank of Australia will relocate its Brisbane headquarters to the 180 Brisbane office tower at 180 Ann Street.
The bank will lease 10,500 square metres in the <a href="https://www.180brisbane.com.au" target="_blank">Crone Partners-designed 34-storey tower</a> on an average 11-year term.
Contenders who missed out included Investa’s 259 Queen Street (formerly the Bank of Queensland headquarters), Grocon and DEXUS Property Group’s 480 Queen Street and Brookfield’s 240 Queen Street, which is where the CBA is ­currently mostly based.
The bank will leave three buildings to take up six floors at 180 Ann Street.
The Australian Financial Review advised the deal was extremely competitive, with an annual face rent around $700 per square metre and an incentive of more than $20 million.
Vacancies in the Queensland capital’s CBD hit 14.7% late last year, the highest level recorded by the Property Council since 1990.
The A-grade 59,100-square-metre tower with floor plates ranging from 1,678 square metres to 2,058 square metres is being developed by Daisho, the company headed by Japanese billionaire ­Katsumi Tada.
Knight Franks Campbell Tait and Graham Clarkson acted for Daisho, which has property holdings in excess of US$1 billion (A$1.23 billion).
Stuart Allison from Independent Corporate Property acted for CBA in the negotiation.
The Daisho Group portfolio includes:
<ul>
<li>192 Ann Street office building developed in 2000 and acquired by Daisho in 2001.</li>
<li>A 510 room hotel in Kuala Lumpur, Malaysia managed by the Hilton Group completed in 2004.</li>
<li>The AO retail complex in central Tokyo developed in March 2009.</li>
<li>The Park Hyatt Sydney, acquired in February 2008 and fully refurbished in 2011.</li>
<li>180 Brisbane, early works commenced February 2012, due for completion mid 2015. </li>
</ul>
</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