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
As 2014 has just drawn to a close it is a good time to reflect on the events of the past, and especially the last 12 months, to prepare for what to expect in the Australian property market in 2015 and beyond.
Let me begin with this absolute gem of a quote:
“At last we anchored within Sydney Cove;… it is a good town; the streets are regular, broad, clean &amp; kept in excellent order; the houses are of a good size &amp; the Shops well furnished. — It may be faithfully compared to the large suburbs which stretch out from London &amp; a few other great towns… the number of large houses just finished &amp; other building is truly surprising; nevertheless every one complains of the high rents &amp; difficulty in procuring a house…”
- Charles Darwin's Beagle Diary, 12 January, 1836, Sydney.
It looks that Sydney property market had not changed much in 179 years - the same issues were widely debated in 2014 and they will continued to be debated in 2015. The chances are that another few generations will hear the same old complaints over and over again.
At the beginning of 2014 there were many sceptics about the uplift in property prices, clinging instead to the previous media propaganda favourite – an imminent price collapse.
However, dwelling prices increased across the country in 2014. In some places very modestly, at a level that could be considered just noise in the data, but in other parts of Australia, like Sydney or Melbourne, quite noticeably (12.4% and 7.6% respectively according to Core Logic RP Data Home Value Index).
<a href="https://www.propertyobserver.com.au/finance/australian-property-prices-explained-independent-analyst/2014011367181/Page-1" target="_parent">As I outlined last year</a>, price growth should have been expected considering the historically high purchase affordability.
Price advances in 2014 put Australia well on track to record another decade of growth - the seventh consecutive decade of growth since World War II.
<img src="/images/2015/01/01/Prices_per_Decades_December2014.png" alt="">
However, you would not know from news headlines that our property market is as expected since 2014 was another year of media beat up about property bubbles fuelled by negative gearing, housing affordability crisis, foreigners and investors stealing houses from first home buyers, and baby boomers eating their young.
As many Property Observer readers already know, these are just overblown exploits by attention seeking media outlets and not the real issues, as I have previously highlighted in my feature article: <a href="/expert-insights/investing/crisis-of-confidence-or-crisis-of-affordability">Crisis of confidence or crisis of affordability?</a>
In 2014 the supply of new dwellings started to increase as a response to rising prices. At the same time, increased participation of property investors led to increases in supply of rental accommodation. Rents held well in larger capital cities in 2014 but declined in Canberra, Darwin and Perth (as per Residex November 2014 results).
The cost of buying Australian property is now considered expensive in comparison to rents. The pendulum swung in favour of rents in March and the changeover was reported in <a href="/expert-insights/buying/further-price-growth-likely-though-pace-may-slow-may-2014-state-of-the-market-analysis">May’s state of the market report</a>.
The December preliminary analysis indicates that the peak in this cycle might have been reached but we will have to wait for a confirmation in the coming months.
<img src="/images/2015/01/01/BRI_December2014.png" alt="">
However, in historical terms, residential property remains well within the financial means of working Australians, despite substantial price rises in 2013 and 2014. Even in Sydney.
<img src="/images/2015/01/01/PAI_December2014.png" alt="">
The property market in Australia fared well in 2014 in comparison to the stock market but, as noted earlier, returns varied across the country.
The best capital gains were recorded in Sydney and Melbourne, and Canberra and Darwin were the worst performing markets in 2014 (as per CoreLogic RP Data Home Value Index).
It is therefore not a coincidence that the security and relatively low volatility of residential property is very attractive at the moment.
<img src="/images/2015/01/01/HP_Accum_December2014.png" alt="">
Also see:<a href="https://www.propertyobserver.com.au/residential/a-roof-over-your-head-or-the-biggest-investment-you-ll-ever-make-how-should-we-treat-residential-property/2014020967655" target="_blank"> An investment or just a roof over your head: How should we treat residential property?</a>
Article continues on the next page. Please click below.
<hr class="system-pagebreak">
The Australian dollar fell at the end of the year, making our property market cheaper for expats and international buyers.
As far as market intervention goes, we had two property related Senate inquiries in 2014: one into housing affordability and the other into foreign investment in residential property. And there was the financial system inquiry, the so called Murray Review. Government policy responses are expected to have some impact on the property market but the magnitude and timing of eventual actions is uncertain.
There were also strong calls during the year for the implementation of micro prudential regulations to curb property investment growth, as well for the removal of negative gearing provisions, but the probability of any actions by the authorities remains rather low at this point in time.
Besides, the likelihood of any negative impact stemming from these actions on the property prices is minimal if we consider New Zealand experiences with micro prudential controls and the true role negative gearing plays in property investment (as explained in <a href="https://www.propertyobserver.com.au/news/let-s-get-the-facts-straight-negative-gearing-benefits-less-well-off-investors-more-than-it-does-the-rich/2013111266324" target="_blank">Negative gearing: The three facts that will challenge your assumptions</a> and <a href="/news">Putting property investment losses into perspective</a>).
Money has flowed strongly into the property market throughout 2014 but that flow has potentially reached its peak in the December quarter. We will have to wait until March 2015 for a confirmation of change in trends, but a pull back in demand in autumn is very probable.
<img src="/images/2015/01/01/PHCI_December2014.png" alt="">
Transaction volumes remained subdued in 2014 in historical terms. With consumer confidence down for the year, unemployment on the rise and general expectations of low growth in wages, and tough economic conditions ahead, the demand for property has been weakening throughout 2014 and can be expected to decline further.
<img src="/images/2015/01/01/EWI_December2014.png" alt="">
Price growth started to decelerate in mid 2014 – the outlook for the market was downgraded to neutral in June, and again in July to neutral with negative bias, to reflect deteriorating conditions.
In the last 12 months, the Australian property market has followed a slow growth scenario, as outlined in <a href="https://www.propertyobserver.com.au/residential/australian-property-prices-in-2014-and-beyond-a-peek-into-the-future/2014013167457" target="_blank">Australian property prices in 2014 and beyond</a>.
All in all, at the end of 2014 the property market in Australia remains strong but there are signs it is ready to take a breather.
Jitters in international financial markets and the constant worries about the domestic and the world economy (China in particular), negatively influenced the confidence of market participants. Prices cannot advance strongly in such an environment so we may have already seen the peak activity in this cycle.
If confidence in the domestic economy improves significantly in 2015, it could put a rocket under prices because property in Australia is still relatively cheap. With the expectation of interest rates on hold throughout 2015 and only moderate wage growth, the key to the Australian property market fortunes is employment.
Arek Drozda is an independent property market analyst.
Caveat - The information is provided in good faith and does not constitute financial advice. Use with caution and at own risk.
Background information - For more extended description of individual measures and how to apply this information please refer to the first report in this series: <a href="/expert-insights/buying/buying-more-advantageous-than-renting-yet-change-imminent-april-2014-state-of-the-market-analysis">State of the Property Market, April 2014</a>.  
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State of the market report – 2014 in review

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GUEST OBSERVATION
The last two years have been somewhat of a testing ground for making property price forecasts informed by <a href="https://ckmurray.blogspot.com.au/2011/07/murrays-retrospective-indicator-for" target="_blank">my indicator</a>, which has a new name – the Speculation Index.
It is the ratio of housing gross yields to mortgage interest rates and captures the degree of price growth speculation embedded in current prices.
<a href="https://www.macrobusiness.com.au/wp-content/uploads/2014/12/buySellLongTerm1.png" rel="lightbox[335668]"><img class="alignnone wp-image-337022 size-full" src="https://www.macrobusiness.com.au/wp-content/uploads/2014/12/buySellLongTerm1.png" alt="buySellLongTerm" width="700" height="352"></a>
Source: Cameron Murray and Philip Soos.
Above is a new long-term series of this Index using data compiled by Philip Soos. It offers a number of insights into the history of housing credit, the durability of cycles in periods of apparent macroeconomic stability, and offers a warning about the future of residential property markets to those who hold out hope that maybe now is the beginning of that elusive era of stability.
The primary lesson from the long-term Speculative Index is that the easy money era since the late 1960s has been qualitatively similar to the pre-WWII period in terms of cyclical patterns, but far different in terms of scale. Whether this has to do with the openness of credit markets, dual incomes, or the development of private investor markets in Australian housing, it is best to consider this period a unique conflation of institutions that cannot be compared to prior periods.
Or it could just be terrible data. Take your pick.
We can gaze back at the early part of the 20th century, which followed a massive housing boom and slump, particularly in Melbourne, during the 1890s. The first decade, by this measure, was a period of relative stability for property prices in Australia.
After WWI a property boom took hold, peaking around 1921 as yields fell and interest rates crept upwards, and followed by a long slump that continued through the Great Depression. During WWII the market was completely unmoved as resources were sucked out of domestic private markets into the war effort and various administrative controls kept prices and rents steady.
The renowned stability of the 1950s and 1960s is on display in this metric as well, with housing capitalisation rates very stable compared to yields, with almost no price speculation built into prices. Perhaps this was primarily a product of tight credit to households, coordinated construction efforts, and relatively high levels of non-housing investment.
Post 1970 the modern finance era <a href="https://www.econ.mq.edu.au/Econ_docs/research_papers2/2004_research_papers/Abelson_9_04.pdf" target="_blank">kicked off with a Sydney boom</a>, which <a href="https://ckmurray.blogspot.com.au/2011/07/sydney-housing-boom-ripple-effect" target="_blank">rippled</a> across states and was over by about 1974. Then the 1980s saw another round of smaller surges of speculation, ultimately collapsing in 1989 and leading to a recession a few years later. The end of the 1990s recession ended appeared to be the best time to buy property in the past two decades, as this index and a whole host of property-related <a href="https://www.macrobusiness.com.au/2014/12/the-history-of-australian-property-values-redux-2/" target="_blank">metrics indicate</a>.
The massive 2000s boom then rippled across the nation, and as interest rates where ratcheted up on falling property yields we see another index peak in 2008, which plunged back in response to substantial stimulatory interest rates cuts.
In essence, housing prices were rescued by the RBA during this period. Historically low mortgage interest rates, the influx of foreign investment into the housing market (and mining) and the Rudd government’s bailout of the banking and financial system saved the day.
As I <a href="https://www.macrobusiness.com.au/2013/05/melting-towards-the-bottom-of-the-housing-cycle/" target="_blank">wrote early last year</a>, my Speculative Index again showed it was an opportune time to buy Australia housing. Prices are up over 10% nationally since, and around 17% in Sydney. Currently this Index suggests there is more to run in the national price cycle. Prices being more likely to rise than fall in the near future.
I add a dashed prediction line to show what might be the next moves in this Index, jointly arising from a number of evolving trends including
<ul>
<li>Rising mortgage interest rates 
</li>
<li>Flat or falling rents 
</li>
<li>Rising prices</li>
</ul>
For example, if prices rise by 10%, mortgage rates rise by 0.75%, while rents are flat, the Index will shift up to 2.1. That’s still a long way off the type of irrational exuberance we normally see, taking us only halfway from the buy line to the sell line.
Unless we see significant credit controls in the housing market, it is likely we will continue the property price cycle we have just started. This cycle itself will compress yields while rents are stable and result in a surge of the index, providing the boom for necessary for the next bust. The RBA, as usual, will be too late to increase interest rates. Governments at all levels will be too uncoordinated to increase public investment to smooth the transition to a higher rates or tighter credit environment.
If the Georgist 18 year average period of asset cycles has merit, then we are now likely living in a period much like mid 1990s – still cautious from recent experience and ignorant of the property cycle about to get under way. Remember though that this Index does not represent prices, but reflects the degree of speculative fervour in the market. The Index can rise without price price increases if rents are flat and mortgage interest rates are rising. Which of these factors we see play out will determine the scale of the price gains likely to be experienced.
Looking at the history of this index, coupled with the recent success of using its cyclical pattern to predict property market movements, suggests it is unlikely that ‘this time is different’.
Cameron Murray is an economist and PhD candidate at University of Queenland. 
Philip Soos is an economist and post graduate candidate at Deakin University. He has recently co-authored <a href="https://www.worldeconomicsassociation.org/files/Bubble_Economics_Egan_Soos.pdf" target="_blank">Bubble Economics: Australian Land Speculation 1830-2013 </a>with Paul D Egan.
This article first appeared on <a href="https://www.macrobusiness.com.au/" target="_blank">MacroBusiness</a>.
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po-LsXgBTHBmX

Property speculation to continue boom, but will a bust follow?

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GUEST OBSERVATION
The Australian Tax Office (ATO) says it continues to see a number of taxpayers understating rental income and over-claiming rental deductions.
With the surge in real estate sales, especially residential real estate, and an emphasis on investment properties, the ATO has not surprisingly taken a close interest in the <a href="https://www.smartcompany.com.au/finance/tax/43478-ato-targets-work-expenses-rental-properties-and-more" target="_blank">expense claims people make concerning their rental properties</a>.
Rental properties have been on the ATO radar, it seems, forever. The issues haven't greatly changed, but it seems taxpayers are still getting it wrong. Quite why this is the case is something of a mystery.
The ATO is now sending what it says are "re-designed" letters to taxpayers regarding reviews of rental, legal and/or borrowing expense claims. In those letters, the ATO says it will provide information on specific expense claims it is reviewing. It says the letters identify:
<ul>
<li>the relevant tax return label where the expense is claimed and the amounts in question; 
</li>
<li>the proposed ATO adjustments; 
</li>
<li>what to do if there is a disagreement about what has been claimed; and 
</li>
<li>where to find relevant information on the ATO website.</li>
</ul>
The ATO says it has also refined its case selection processes to minimise the likelihood of incorrectly selecting commercial properties.
Common errors with rental expense claims
Some of the common errors the ATO has identified include claiming as a legal and/or borrowing expense:
<ul>
<li>stamp duty on the transfer of property; 
</li>
<li>legal fees in relation to family divorce proceedings; 
</li>
<li>borrowing expenses in a single year, instead of being spread over five years as the law requires. The five years runs from the date of the borrowing; 
</li>
<li>borrowing expenses for personal loan protection insurance for injury, illness and loss of income; 
</li>
<li>interest expenses incorrectly claimed at the borrowing expense label on the tax return; 
</li>
<li>renovation costs as repairs and maintenance instead of being attributed to the capital cost of the property. This area causes confusion for many in determining for a start what is a repair versus what is a renovation. Structural improvements are unlikely to repairs e.g. remodelling a bathroom or kitchen; 
</li>
<li>solicitors fees for purchase of the property; and 
</li>
<li>some expenses as legal instead of sundry expenses. For example, fire levy expenses and lease fees.</li>
</ul>
The ATO says it continues to see a number of taxpayers understating rental income and over-claiming rental deductions. The ATO says it will be expanding its focus to investigate issues such as the incorrect:
<ul>
<li>apportionment of income and expenses based on ownership holdings; 
</li>
<li>claiming of expenses for vacant land; 
</li>
<li>apportionment of expenses for holiday homes. This may be done on the basis of the actual number of days the property is let at a commercial rent, although this will depend on the particular circumstances; 
</li>
<li>claiming of interest expenses for private borrowings.</li>
</ul>
It's also important to remember that expenses incurred in respect of an empty rental property will only be deductible if the property is available for rent and there are active and bona fide attempts to let the property. This means that expenses incurred will not be deductible for any period during which the property owner does not actively seek to find a tenant. This is a common issue.
There are many rental property expenses that are tax deductible e.g. council and water rates, building insurance premiums, real estate agent management fees, advertising costs, travel costs to inspect the property, etc.  However, as the Tax Office has clearly found, there are a number of areas where mistakes are being made. Rental property owners should take note of these.
Terry Hayes is the editor-in-chief of tax news reporting at <a href="https://www.thomsonreuters.com.au/" target="_blank">Thomson Reuters</a>, a leading Australian provider of tax, accounting and legal information solutions.
Thomson Reuters <a href="https://www.propertyobserver.com.au/https://www.thomsonreuters.com.au/the-australian-tax-handbook-tax-return-edition-2014/productdetail/121906" target="_blank">Australian Tax Handbook 2014 – Tax Return Edition</a> provides information on claiming all kinds of tax deductions, including the rules relating to claiming rental properties and work-related expenses.
This article first appeared on <a href="https://www.smartcompany.com.au/" target="_blank">SmartCompany</a>.
 
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thayes-XhNcNKLNWa

Rental property owners in ATO's sights: What you can and can't claim

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GUEST OBSERVATION
It’s that time of year when people are enacting their summer holiday plans.
Summer can be a particularly busy time for investors with holiday homes in their portfolios.
While most guests will do the right thing, even the most careful holiday makers can take a more casual approach to looking after a rental property when in holiday mode.
People who rent their holiday homes can expose their property to specific risks including theft, malicious and accidental damage and legal liability issues arising from holiday makers injuring themselves on a property.
This can also lead to loss of rental income while damages are repaired.
The risks can be significant when you consider that a holiday home may be rented out a number of times a year.
We have seen instances where goods have been stolen from a holiday home to damage caused by an overflowing bath tub left unattended.
There were a number of tips to consider that can help reduce these risks during this busy period.
<ul>
<li>Presenting the property</li>
</ul>
Before the holiday season begins, it’s important for landlords to prepare a well-presented property for their guests.
A fresh coat of paint or attending to gardening maintenance can help ensure the property remains well cared for.
Landlords who offer an attractive home set the standard and may be more likely to be rewarded with tenants who take care of their property and pay their rent on time.
<ul>
<li>Safety</li>
</ul>
Landlords should inspect holiday homes regularly to ensure lights, white goods, appliances and smoke detectors are in working order and that the property is safe and habitable.
A detailed condition report should be completed which can include photos and videos of the property and any valuable furniture. 
By providing guests with a safe environment to live in, it may also reduce the possibility of injuries taking place which could potentially result in a liability claim for the landlord.
<ul>
<li>Security</li>
</ul>
Some guests may become casual in their approach to security while on holidays.
Often the warmer weather means doors and windows may be left open during the day or at night.
Landlords should ensure they have appropriate security measures in place to deter would be thieves, including secured locks on screen doors and windows, sensor lights outside the property, a key box with PIN to store the key for guests coming and going from the property and fencing around the property.
<ul>
<li>Welcome pack</li>
</ul>
It is a good idea to prepare a welcome folder for the holiday home that contains important information.
This may include the terms and conditions of the occupancy, such as check-in and check-out times, the rental rate, the maximum number of occupants and vehicles to be housed at the property and after-hours emergency contact details.
The folder can also include a detailed inventory of the furnishings included for use and a list of keys, remotes and key cards.
This will enable tenants to check the list and replace anything that may have been broken or misplaced before they vacate.
You may also like to include information about the general area such as garbage collection times, local restaurants and popular spots to visit.
Leaving a small welcome package of basics, such as teabags, coffee, sugar and biscuits for the tenants can help encourage tenants to treat the property as if it were their own.
<ul>
<li>Appropriate insurance</li>
</ul>
Short-term rental holiday insurance can provide reassurance that property owners won’t be left out of pocket if their rental property is damaged or robbed over the holidays.
Landlord insurance policies for holiday homes generally provide insurance for short-term rentals of up to 12 weeks.
Landlords who protect themselves from the risks associated with renting a holiday home can then make the most of their time during the busy holiday season and help ensure their tenants have an enjoyable stay this summer.
Carolyn Parrella is executive manager of <a href="https://www.terrischeer.com.au/" target="_blank">Terri Scheer Insurance</a>.
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Five tips to protect your holiday home this summer

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2014 was an interesting year for investors.
In an era when fixed interest investments have been widely expected to be dud performers, returns on Aussie government bonds delivered surprisingly strong returns of around 10% over the calendar year with interest rate expectations imploding as the calendar year progressed.
The Australian share market seemed to be tracking solidly as expected but then nosedived at the end of the third quarter to relinquish all of its previously garnered capital gains before a face-saving rally in December left the chart in positive territory for the year.
In terms of global shares the Dow Jones yet again performed very well in 2014 and the S&amp;P 500 even better, thereby further proving the folly of trying to predict short-term market gyrations.
Commodities generally had a rough ride last year with both copper and gold again finishing the year lower than where they began it, although in truth returns on gold often reflect a currency hedge as much as they do the quoted US dollar return.
Meanwhile 2014 was also a year during which commodities such as iron ore and crude oil were obliterated.
Residential property
"Total returns" from residential property came in at an uncommonly strong 12%.
How returns are measured from residential property for individual investors are largely relevant to how assets are financed - total returns may be a useful measure for those of us who have owned property since the mid 1990s or earlier, but for more recent buyers using higher leverage capital growth is the metric of interest.
In terms of growth capital city dwelling prices rose by a further 8% in 2014 following on from 10% growth in 2013.
<img src="https://3.bp.blogspot.com/-7LOC4nR1e08/VKlTo2qp9MI/AAAAAAAASR0/p5nndmF20FU/s1600/RPD.jpg">
Historically the Core Logic RP Data Home Values Index - which is not seasonally adjusted - tends to produce a dip in valuations around the middle of the year as can be seen in the above chart, but has continued to record solid gains over time.
Over the last two calendar year capital city home values have increased by 18% - the equivalent of an $90,000 price increase on a $500,000 property.
Post GFC Returns 
Since December 2008 capital city home values have increased by more than 36% reflecting a solid 5.3% compounding annual return.
For those using leverage returns have been potentially outstanding - the use of 80% leverage can magnify returns (both positive and negative) by five times before transaction and holding costs, thus reflecting gross capital returns of more than 180% over that time - returns that are rarely matched easily in other asset classes. 
In reality the home values index return is heavily tilted by the outstanding performance of Sydney which has recorded prodigious returns since December 2008 of 55%, or a compounding annual return of 7.5%.
Melbourne aside, returns elsewhere have been relatively muted over the past six years.
On the plus side for home owners there is scant evidence to be found here of the widely predicted sharp property correction.
<img src="https://2.bp.blogspot.com/-npAKOqC5FlU/VKlwjzsvELI/AAAAAAAASSE/M_ylAwZpDFc/s1600/rp1.jpg">
Best prospective performers
With massive population growth continuing to swell Greater Sydney combined with presently the strongest economy in the nation, the harbour city is expected to continue forging ahead to record the strongest capital gains in 2015.
Just as we have seen in London over the long-term, the sheer weight of increasing demand for a genuinely scarce supply of land in Sydney appears likely to continue delivering the most consistent compounding returns.
Those who prefer to invest counter-cyclically face a more demanding decision.
The southern state capitals of Adelaide and Hobart have been hampered by grievously weakened economies and an utter dearth of employment growth, while Adelaide faces the additional hurdle of the shuttering of its automobile manufacturing industry which will contribute to concerningly elevated levels of unemployment in the outer.
Canberra and Darwin must adjust to the twin spectres of a labour market rationalisation and a resources construction pullback respectively.
Melbourne's housing market has been on an outstanding run in recent years but is now confronted by a number of challenges related to both the local economy and to overbuilding in some areas that has resulted in a glut of stock on the market.
The best risk-adjusted bet for counter-cyclical investors is on balance likely to be Brisbane.
The Queensland capital has been struck by a number of setbacks to housing market confidence over recent years, but housing finance data for both owner-occupiers and investors suggests that the market has decisively turned a corner and the strongest three year returns are thus projected for Brisbane.
However, there is certain to be an oversupply of new units in a number of suburbs and skilful asset selection will to a great extent determine results.
You can visit <a href="https://allenwargent.com/" target="_blank" rel="nofollow">AllenWargent</a> property buyers (London, Sydney) or Pete's <a href="https://petewargent.blogspot.com/" target="_blank" rel="nofollow">blog</a>.
His latest book is '<a href="https://www.bigskypublishing.com.au/Books/General-Interest/Four-Green-Houses--and-a-Red-Hotel/1015/productview.aspx" target="_blank" rel="nofollow">Four Green Houses and a Red Hotel</a>' .
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How assets performed in 2014 and what to expect this year

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The Property Observer team is taking a break from daily publication.
We return January 5 in our fifth calendar year of publication.
Enjoy the break too!
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Property Observer publication resumes January 5, 2015

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GUEST OBSERVATION
Ex-NSW Premier Nick Greiner has <a href="https://www.smh.com.au/comment/salt-and-pepper-sydney-social-housing-redevelopment-holds-promise-20141204-11uad3">proposed</a> that land value embedded in public housing estates be recycled to generate new social housing - by redeveloping the estates into higher density living. Greiner claims by using uplift in land values it won’t cost the government a cent.
A similar argument was made recently at the <a href="https://www.urbangrowthnsw.com.au/news/the-bays-precinct-sydney-international-summit-2014.aspx">UrbanGrowth NSW Summit</a> on Sydney’s Bays Precinct renewal project.
Have we finally found the Holy Grail for affordable housing? Is it really that simple – just target existing public land (or rundown estates), redevelop at unusually high density, and use the associated value uplift to secure a substantial slice of low cost homes within the overall project?
This is a neat political trick. It puts the onus on those in the community who might oppose greater density to do so at the expense of the most disadvantaged. How much affordable housing do you want? How much higher do you want the development to go? Government can effectively wash its hands of the decision. It’s a simple land deal.
But its not that simple, of course. More importantly, the solution to our affordable housing crisis lies not just with state governments, but is very much due to a failure at the top of our federal policy system.
A national issue
The current Senate committee <a href="https://www.aph.gov.au/Parliamentary_Business/Committees/Senate/Economics/Affordable_housing_2013/Terms_of_Reference">inquiry into affordable Housing</a>, due to report in March 2015, recognises housing policy is an issue of national significance that calls for national action. Many of the most significant government interventions in our housing market (think negative gearing and capital gains tax concessions, immigration and social security policy) are controlled at the federal level and not by the states and territories.
There are, of course, complexities to the Commonwealth government’s role in an area of “domestic policy” of this kind. Under our federal system, Canberra’s ability to impose housing system reforms would be limited, even under a government keen to do so. But neither is it tenable to claim that the Commonwealth has no remit or responsibly to lead and co-ordinate in this area.
State governments are (increasingly) starved of the resources necessary to run housing programs effectively and the essential coupling of housing, urban and infrastructure policies that should drive new residential development has been largely absent, another point recently lamented by Greiner.
Unfortunately, over a long period the scope for Commonwealth leadership in housing policy has been progressively undermined by vacillating political interest and a hollowing out of public service capacity in Canberra.
The US Housing and Urban Development administration is one example of how things could be done differently. It is resourced and empowered by the US government to play a role for America as a whole. Under the Abbott government, Commonwealth leadership capacity on housing policy has been further weakened by the abolition of the “housing minister” designation, and by the scrapping of the Housing Ministers Advisory Council. Scope for evidence-based policy in this area has been damaged by the disbandment of the National Housing Supply Council.
Although the majority of Australians are affordably housed, a rapidly growing minority is not. This is largely because what remains of our national policy framework was essentially created for an earlier age, when home ownership was a readily achievable goal for most households and property prices were not driven into the stratosphere by an overstimulated rental investment market. Moreover, housing policy has shifted substantially to a reliance on the market to supply the housing needs for all, including lower-income households.
Thanks to these changes our housing system is becoming increasingly dysfunctional. As well as undermining the welfare of lower income groups, this imposes growing economic costs on the whole country. Increasingly, for example, the working poor are being pushed to the fringes of our capital cities, remote from the job-rich inner areas, compounding their disadvantages in a difficult job market. While governments may sometimes speak of well-located “affordable housing” as desirable, there has been little or no effective action to counter intensifying spatial segregation to which housing markets are contributing.
Our federal politicians cannot absolve themselves of responsibility in this situation. It’s now over 20 years since Australia had anything resembling a national housing strategy. Since then, with only a brief exception around 2008, successive governments have turned a blind eye, failing to face up to the new social and economic challenges requiring housing policy reform.
And there are new dilemmas, such as growing numbers of people facing old age in rental housing as home ownership rates decline, especially among the Gen X and Y cohorts – the children and grandchildren of the Boomers for whom post-war housing policy created a previously unseen bonanza of property wealth. Similarly, with growing numbers of families living in private rental housing – many destined to remain there in perpetuity (the so-called “Generation Rent”) – the standard tenancy framework of short term lettings with no security and few rights to make a home is increasingly unsuitable. Sooner or later, this issue will gain political traction, demanding government intervention.
Article continues on the next page. Please click below.
<hr class="system-pagebreak">
Market failure
Left to itself, the market does not generate well-located housing of reasonable quality that is affordable to less affluent Australians. Neither is there a simple answer to this in the form of increased gross housing supply, which some claim would be unleashed by further planning deregulation. The idea that a rapid upswing in new building sufficient to affect house prices would significantly improve affordability (even if the building industry could achieve this) is in any event laughable – how many developers would continue to build if prices were to fall? As history has shown time and again, only with active government intervention can a nation overcome the market’s failure provide adequate levels of affordable housing.
This issue is complex but not insoluble if addressed through smart policy. This should include:
<ul>
<li>national tax reform directed at achieving improved housing affordability</li>
<li>a national strategy for affordable housing supply</li>
<li>a national mechanism for financing affordable housing at scale via proven and cost-effective methods, such as a national housing supply bond</li>
<li>a larger role in housing provision for the non-profit sector</li>
<li>connecting infrastructure, housing and planning strategies at city and local scales to deliver integrated affordable housing outcomes on the ground.</li>
</ul>
The idea of simply achieving more affordable housing on the back of density bonuses, while a possible component of any local solution, is a myth that will not suffice long term. What happens when we run out of public housing estates to renew? And would this work in the lower value outer suburbs where much public housing is located?
The provision of affordable housing cannot be left to the market: it requires a commitment of government at all levels to develop a well-integrated and properly funded package of policies. With the “reforming Federation” debate under way, now is the time for these arguments to be had.
<img src="https://counter.theconversation.edu.au/content/35372/count.gif" alt="The Conversation" width="1" height="1">Bill Randolph is director, City Futures - Faculty Leadership, City Futures Research Centre, Urban Analytics and City Data, Infrastructure in the Built Environment at UNSW Australia.
 Hal Pawson is associate director - City Futures - Urban Policy and Strategy, City Futures Research Centre, Housing Policy and Practice at UNSW Australia.
Vivienne Milligan is associate professor - City Futures Research Centre, Housing Policy and Practice at UNSW Australia.
This article was originally published on <a href="https://theconversation.com" target="_blank">The Conversation</a>. 
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Australia needs more than dense housing arguments

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Lakemba is located 15 kilometres south-west of Sydney's CBD, in the Canterbury local council area.
It's bordered by Wiley Park to the west and Belmore to the east. Lakemba railway station, in the centre of the suburb, is serviced by the Bankstown line. The 450 bus also delivers residents to Burwood, through Roselands and Strathfield and to Hurstville, via Roselands.
This year, as buyers increasingly focussed on Sydney's middle ring western suburbs to find affordable properties, Domain Group senior economist Andrew Wilson says Lakemba saw strong results.
"The numbers look very good for Lakemba," says Wilson. Australian Property Monitors recorded a median house price of $750,000 in Lakemba for the six months to November, up from $645,000 in the previous period.
The <a href="https://www.realestate.com.au/property-house-nsw-lakemba-118155211" target="_blank">three bedroom house</a> below sold for $750,000 in late November. The brick house on a 534 square metre plot had been held by the vendors for 23 years. They paid $149,000 for the house in 1991.
<img src="/images/2014/12/19/house.jpg" alt="">
In the six months to November 2014, median unit values increased from $337,750 to $360,000, according to Australian Property Monitors.
"That's very strong growth," he says. Wilson predicts the strong growth will continue next year, but will eventually slow.
"Sydney's still set to be the best performer of all the capitals next year. There's still a lot of energy in the market.
"Generally, Sydney house price growth is declining, from double figures over the last two years, per year.  It's gone from around 15% per year to 11%, and next year will probably see around 7% growth.
"Most suburbs will move in line with that. Lakemba, particularly in units, still has a close to double figure growth left in it," he explains.
According to Wilson, units in Lakemba are still in a range generally considered to be affordable, particularly given the suburb's location and local amenities.
A <a href="https://www.realestate.com.au/property-unit-nsw-lakemba-117981363" target="_blank">two bedroom apartment</a> in the eight-unit complex pictured below sold for $358,000 in early December. The elevated ground floor unit with a registered car space was bought by the vendor just a year and a half ago, for $260,000. In that time, after receiving fresh floorboards and new carpet in the bedrooms, its value has increased by 37.7%.
<img src="/images/2014/12/19/unit.jpg" alt="">
"Inner middle ring suburbs in Sydney always attract buyers, and it's all part of that search for more affordable options," says Wilson.
"The area is well serviced by transport and infrastructure, and of course, the NSW economy is doing very well.
The area's main retail strip is along Haldon Street, with a variety of stores and restaurants. There are a number of schools in the area, including Lakemba Public School, Hampden Park Public School and Holy Spirit College.
According to the Australian Bureau of Statistics, the Lakemba - Wiley Park area had a population of 27,228 as of 2012. 76% of Lakemba - Wiley Park residents spoke a language other than english at home in 2011.
In 2011, labourers made up the largest proportion of wage earners in the Lakemba and Wiley Park area, accounting for 19.5% of the area's paid workers. 15.0% of the area's wage earners described themselves as professionals, and technicians and trades workers made up 12.7% of wages earners.
Wilson explains that those who cannot afford Sydney's inner western suburbs are increasingly considering properties in Canterbury, Bankstown or Croydon Park. He expects the majority of buyers in the area are and will continue to be owner occupiers, given its affordability.
After a strong 2014, Wilson predicts that in 2015, Lakemba is "still set to be a popular suburb in a moderating market".
You might also want to read: Why I wouldn't buy an old home Sydney's western suburbs. 
Photo of Halden Street, Lakemba courtesy of Blu3d/<a class="mw-mmv-license" href="https://creativecommons.org/licenses/by-sa/3.0/" target="_blank" style="line-height: 1.3em;">CC BY-SA 3.0</a>.
 
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Suburb spotlight: Lakemba presents affordable options for owner occupiers

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The latest demographic statistics released by the Australian Bureau of Statistics have found that population growth is slowing, however the Housing Industry Association has noted that there is still strong demand for housing.
HIA economist Geordan Murray said that the latest figures have found Australia’s population reaching 23.49 million people at the end of 2013/2014, or an extra 365,000 people.
“This is equivalent to a growth rate of 1.6% over the year. This annual growth rate is down from the 1.8% rate which applied at the end of the 2012/13 fiscal year, but is still well above the long term average,” said Murray.
“The natural increase in population (births minus deaths) added 152,173 people in 2013/14. This contribution was 6% lower than in the previous year.”
Net overseas migration slowed in 2013/2014, with 212,695 more people than those departing – about 10% less than 2012/2013.
“Compared with many other developed economies, Australia has been a star performer over the last few years,” he said.
“With shortages of skilled labour evident in many industries and a relatively strong looking economy, Australia has proved to be a very attractive destination for overseas migrants and was equally attractive for Australians who would have otherwise considered opportunities overseas.”
The strongest states for population growth over the year were New South Wales and Victoria.
“Last financial year both these states recorded their strongest annual population growth rates in over twenty years, excluding the period skewed by the GFC,” he explained.
Murray noting that the annual growth for Victoria was 1.9% and for New South Wales it was 1.5%. Western Australia, however, is the star performer with 2.2% population growth. However, this is down from 3.3% last year.
Queensland increased 1.5%, while South Australia grew by 0.9% and Tasmania recorded 0.3% growth. The Northern Territory and ACT saw growth of 1.0% and 1.2% respectively.
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Population growth slows, but property demand high: HIA

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It's now <a href="/expert-insights/buying/10-extra-months-needed-to-save-for-sydney-first-home-deposit-in-2014-bankwest">taking first time buyers even longer</a> to save for a home, as price growth in some areas makes the time to save a 20% deposit rise ever higher.
Bankwest's First Time Buyer Deposit report explains how long it takes from state to state.
<ul>
<li>New South Wales: 4.8 years (If looking at Sydney, this is at 6.7 years) </li>
<li>Victoria: 4.4 years (if in Melbourne, this increases to 5.5 years) </li>
<li>ACT: 4.0 years </li>
<li>Northern Territory: 4.1 years (In Darwin, this spans to 4.2 years) </li>
<li>Queensland: 3.8 years (4.1 years for Brisbane) </li>
<li>Western Australia: 3.7 years (For Perth, 3.9 years) </li>
<li>South Australia: 3.3 years (For Adelaide, 3.6 years) </li>
<li>Tasmania: 2.7 years (For Hobart, this increases to 3.3 years)</li>
</ul>
For more findings from the report, including the 10 LGAs where saving is quickest across the country, <a href="/expert-insights/buying/10-extra-months-needed-to-save-for-sydney-first-home-deposit-in-2014-bankwest">click here</a>.
<img src="/images/2014/12/19/syd%20bankwest%20dec%2019%20one.png" alt="">
Source: Bankwest
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