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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An estimated 48% of households in Australia are either uninsured or under insured, with 26% of small businesses also falling into this “no insurance” category, according to Know Risk Network.
If there is a chance you are underinsured, Know Risk Network spokesman Thomas Wills suggests that you undertake a thorough review of your insurance coverage.
“Across all areas, Australia is recognised as one of the most underinsured countries in the developed world. Recent history shows that with our exposure to natural disaster risks, this simply doesn’t make sense,” said Wills.
“If you couldn’t afford to rebuild your home or replace its contents, you need to see insurance as an important part of protecting yourself from the risks you face, which means ensuring that you have enough coverage and that it’s up to date. This is in addition to undertaking practical risk management to put you in the best position to withstand a catastrophe like a bushfire or cyclone,” he said.
Here are their five steps to consider:
<ol>
<li>Check what you’re insured for. If you’ve bought anything of value, installed a pool, shed or other addition or renovated your home, your property may have increased in value and you may need to update your policy. 
</li>
<li>Consider if building costs rise quickly in your area. Factor changes to building codes when discussing your level of cover with your broker or insurer. 
</li>
<li>Make sure you policy is current. Too many are expired when disaster strikes. 
</li>
<li>Have your insurers’ details in your phone. Many people’s claims are held up after a disaster because they don’t know who they’re insured with. 
</li>
<li>Keep a copy of your policy and evidence of your valuables off site. Not having proof of your possessions can cause major headaches.</li>
</ol>
Source: Know Risk Network
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jduke-EHk3XBmHkn

Five ways to ensure you’re adequately insured: Know Risk Network

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With more borrowers than ever before in this latest low rate cycle opting for fixed rates, Finder.com.au’s Michelle Hutchison is suggesting that borrowers may want to seriously consider fixing their home loan.
At present, borrowers fixing their loans through the Finder website are at 36%, the highest level in the past three years – since the beginning of the falls of the cash rate in November 2011.
At the start of 2014, 25% of borrowers were fixing, compared to November 2011 when just 11% were looking to fix.
Hutchison said that, despite some experts predicting a cut before the rates start to increase, the rise in fixed rate popularity may be the abundance of experts predicting rates to climb. In their survey, seven of 37 experts predict a rate drop next year.
“Despite this, they are still expecting rates to eventually rise, so borrowers who have overstretched themselves or concerned should consider locking in a fixed rate home loan,” she said.
“This year, we've seen average variable home loan rates fall by 0.24 percentage points – from 5.46% in January to 5.22% now. The difference in monthly repayments for a $300,000 loan size over 30 years is $45 less per month.
“We've also seen fixed rates also take a dive, with the average three-year fixed rate falling by 0.19 percentage points from 5.17% to 4.98% now. If you fixed a $300,000 home loan in January you would be paying $35 more per month than if you fixed now.”
The lowest variable rate available is with Heritage Bank, at 4.39%, with three year fixed rates starting at 4.59% - with ME Bank and Greater Building Society offering this rate.
“Lenders have continued to cut home loan rates this year because their funding costs have fallen and they have passed on the savings to borrowers, they also have room to move as they haven't passed on all of the cash rate cuts since rates began to fall in November 2011,” she said.
“Fixed loans are usually a barometer for the direction of interest rate movements and with fixed rates still falling, it could be a sign that another cash rate cut could happen next year.”
Just one lender has dropped their variable home loan rate this month, but some more may be seen, she suggested.
“Despite this, interest rates are likely to eventually start rising so it's a great time to lock in a fixed rate if you're concerned about rising rates. Or borrowers could hedge their bets and split their loan so a portion is with a variable rate and a portion is fixed,” Hutchison said.
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Good time to lock in a fixed rate: Finder

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The top sellers’ markets across Australia, where there are the most people looking per listing, have been released by realestate.com.au.
The top 10 reveal that South Australia remains strong on the list, with Parkside taking out top spot again – having maintained the result over the last 11 quarters.
The figures are based on the September to November 2014 quarter’s views on the site.
The top 10 revealed suburbs:
<ol>
<li>Parkside, South Australia 
</li>
<li>Unley, South Australia 
</li>
<li>Engadine, New South Wales 
</li>
<li>Norwood, South Australia 
</li>
<li>Albert Park, Victoria 
</li>
<li>Unley Park, South Australia 
</li>
<li>Cherrybrook, New South Wales 
</li>
<li>Holland Park, Queensland 
</li>
<li>Bella Vista, New South Wales 
</li>
<li>Ringwood North, Victoria</li>
</ol>
New South Wales, while still a good result, has seen the number of suburbs on the list halved since last quarter.
Parkside, Norwood, Cherrybrook and Bella Vista have all been on the list previously.
Tom Ainsworth, realestate.com.au’s head of sales, said that it’s good news for sellers as it means there is a high amount of interest in buying their property when they put it to market.
“If a suburb is consistently featuring on the Top Sellers’ Markets list, it shows that buyers are determined to find a property in this area and are always checking the site to see if a listing has come up,” he explained.
Property Observer isn't quite sure why Parkside has seen such strong success. With 2,286 private dwellings in total in the area, REA statistics note that when considering properties for sale there are 102 visits per property compared to the 65 visits per property for the Adelaide average.
Why do you think this area has made the list?
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The 10 suburbs with the most buyers per listing: REA

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Another near-record number of Sydney homes went under the hammer with 979 weekend auctions.
It ranked as the fourth highest day for auctions this year and the fifth highest ever.
Around 400 auctions are scheduled just five days before Christmas.
The weekend result, according to the initial Australian Property Monitors (APM) report, was 75%, with the prior weekend revised down to 65%.
The inner west hosted 172 auctions followed by the south with 141, but the busiest suburb for auctions was Blacktown in the west with 15, followed by Mosman on the lower north shore and Epping on the upper north shore each with 14.
APM had nine sales among the 10 reported results at Blacktown.
The price ranged from $497,000 for a three bedroom cottage <a href="https://www.domain.com.au/property/for-sale/house/nsw/blacktown/?adid=2011604082" target="_blank">at 41 Maloney Street</a> (pictured above) to $902,000 for a four bedroom, 10 year old home on a large 1162 square metre block at <a href="https://www.domain.com.au/property/for-sale/house/nsw/blacktown/?adid=2011625163" target="_blank">2a Felicia Place</a>. Starr Partners were saying $799,000 plus for the pricey offering.
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jchancellor-FAypfDUnLy

Blacktown secures strong auction success among busy Sydney auction weekend

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GUEST OBSERVATION
"<a href="https://www.newcriterion.com/articles.cfm/Herb-Stein-s-law-7531" target="_blank">If something can’t go on for ever, it won’t.</a> – Herb Stein, chief economic adviser to former US president Richard Nixon.
China’s economic rise has been a good news story for Australia. According to most economic policymakers and commentators, the growing middle classes of China and the rest of Asia will ensure Australia continues to flourish over coming decades.
Treasurer Joe Hockey, for example, recently <a href="https://jbh.ministers.treasury.gov.au/speech/024-2014/" target="_blank">argued</a>: "China’s middle class of around 150 million people is expected to reach one billion in just 16 years … This rising middle class of Asia wants what comes from Australia’s farms and our gas fields. They want to come here as tourists, attend our universities and they need our financial sector to manage their wealth and plan their retirement."
Reserve Bank economist Alexandra Heath also <a href="https://www.rba.gov.au/speeches/2014/sp-so-211114" target="_blank">contends</a>: "Even if the sustainable growth trajectory for the Chinese economy gradually declines over the medium term, the economy is much larger than it was and is still growing. This implies there will continue to be a huge appetite for commodities of many kinds."
They could be right, and if you judged future opportunities based on past performance you’d be reasonably confident. But what if they’re wrong? Is Australia prepared if the optimistic scenario doesn’t eventuate? Do we need a plan B?
Australia is now the most China-dependent economy in the world. Australian exports to China have grown from <a href="https://www.treasury.gov.au/PublicationsAndMedia/Speeches/2014/CEDA-27112014" target="_blank">8.5% of the total in 2003-04</a> to <a href="https://dfat.gov.au/publications/tgs/index" target="_blank">32.5% in 2013-14</a> – and they continue to grow.
Australia’s dependence on its top three export destinations has also increased over the past ten years. The top three accounted for 33.7% (Japan 15.7%, US 9.5% and China 8.5%) in 2003-04, rising to 55.1% (China 32.5%, Japan 15.8% and South Korea 6.8%) by 2013-14. The top five now account for 63.7%, up from 47.7%.
More worryingly, not only is Australia more China-dependent, but so is most of the rest of Asia. This means that a China slowdown (or worse) will also hit Australia’s exports to Japan and South Korea – our second and third-largest export destinations.
Let us hope that the dreamers are right about China’s long-term progress and that the doomsayers are wrong. But remember also that all of this export growth to China occurred without the free trade agreement that Australia and China have <a href="https://www.pm.gov.au/media/2014-11-17/landmark-china-australia-free-trade-agreement" target="_blank">concluded negotiating</a>. It’s possible that the agreement will help to diversify Australia’s export mix to China – <a href="https://www.smh.com.au/business/the-economy/who-wins-in-australiachina-free-trade-agreement-20141117-11ojvd" target="_blank">more agriculture, more services</a> – but it might also just make us more vulnerable down the track as Australia becomes even more dependent on China for earning foreign exchange.
Current policy settings aim to reinforce Australia’s strengths. While this has worked well for us over recent years, Australia’s long-standing economic vulnerabilities remain. These include our vulnerability to falls in the demand for – and prices of – <a href="https://www.theaustralian.com.au/business/news/iron-ore-price-resumes-downwards-trend/story-e6frg906-1227142842905" target="_blank">resources</a>, and high levels of <a href="https://www.aph.gov.au/About_Parliament/Parliamentary_Departments/Parliamentary_Library/pubs/rp/rp1415/Quick_Guides/AustForeignDebt" target="_blank">foreign</a> and <a href="https://www.propertyobserver.com.au/https://www.abc.net.au/news/2014-05-07/household-debt-the-big-threat-to-australian-economy/5435844" target="_blank">household</a> debt.
This leads us to the big question: does Australia need a Plan B? And what would that be? A Plan B would involve a realisation that while resources have helped to make Australia rich, they’re not enough to sustain our prosperity over time. Australia needs active policy efforts to diversify the economy away from a reliance on resources and on buying and selling houses.
Policymakers need to reconsider industry policies and think of ways to develop new industries rather than just support old ones in ad hoc ways. Efforts to extract greater rents from Australia’s <a href="https://www.miningaustralia.com.au/news/foreign-ownership-dominates-mining-industry-rba">80% foreign-owned</a> mining sector are also necessary – that is, through mining taxes. Encouraging the development of renewable technologies through a carbon price should also be a no-brainer for Australia.
In other words, the two policies that the Abbott government <a href="https://www.news.com.au/national/budget-what-did-the-abbott-government-achieve/story-fncynjr2-1227144981800">trumpets as successes</a> are anything but.
The continuing transformation of the Australian political economy is likely to cause ongoing political volatility as Australian governments deal with the electoral consequences of structural changes and economic vulnerabilities.
The best way to ease the pain and avoid resistance to necessary structural reforms is to ensure a fairer distribution of Australian prosperity and a fairer distribution of the pain when the current period of economic growth ends. There are no guarantees of political success, but a fairer political economy is likely to underpin support for economic openness and flexibility. Both are vital preconditions for a more productive economy.
Improvements in productivity – the efficiency of labour and capital – and an egalitarian distribution of the fruits of that productivity are what matters for long-term prosperity. Getting Australia’s policymakers and the wider population to realise that the two are not contradictory is the short-term challenge.
Both good and bad things can come from political processes but we cannot remove politics from the equation. It is worth remembering that Australia is a <a href="https://theconversation.com/income-and-wealth-inequality-how-is-australia-faring-23483">wealthy and relatively equal country</a> because of political interventions, not despite them. Australia needs to utilise its luck to lessen its vulnerabilities.
If policymakers simply believe that China will sustain Australia’s prosperity over the next 20 years, then many Australians will think there’s no reason to change tack – until it’s too late.
Tom Conley is senior lecturer, School of Government and International Relations at Griffith University.
This article was originally published on <a href="https://theconversation.com" target="_blank">The Conversation</a>.
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po-LsXgBTHBmX

Australia’s China dependence: Do we need a Plan B?

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The Reserve Bank has stated on more than one occasion that mortgage repayments are on average some 15% ahead of schedule, the equivalent of some two years worth of monthly payments. If this is true then despite endless talk of stretched household budgets, then we should actually see mortgage arrears declining to levels not seen in years.
The latest Fitch Ratings Dinkum Index, which records 30 and 90 day mortgage arrears, showed that arrears have declined to seven year lows (30 day) and fiveyear lows (90 day) respectively.
From <a href="https://www.bankingday.com/nl06_news_selected.php?act=2&amp;nav=13&amp;selkey=17947" target="_blank">Banking Day</a>:
"The strong housing market is suppressing home loan arrears. 
"Fitch Ratings, in its latest Dinkum Index analysing the September 2014 quarter, put loans 30 days or more past due at their lowest level since late 2007. 
"Fitch said delinquencies dropped by 14 basis point to 1.08%.
"Serious arrears also benefited, with loans 90 days or more in arrears sitting at 0.47%, the lowest level since December 2009.
"Arrears are expected to remain largely stable in fourth quarter 2014, Fitch said, due to low, stable interest rates, a strong housing market and lending, and relatively low (albeit rising) levels of unemployment."
Great to hear. While other developed countries have seen serious 90+ day arrears on up to 10 to 15 or more in every 200 mortgages in the period following the financial crisis, the equivalent figure for Australia is incredibly now below 1, which is wonderful news. The reasons are clear enough, being a combination of very low interest rates and the unique structuring of so many loans in Australia which <a href="https://petewargent.blogspot.co.uk/2014/04/stress" target="_blank">maintain repayments at the same level</a> when interest rates fall, thus allowing borrowers to build up sizeable repayment buffers when variable mortgage rates have been declining over a period of years.
This mirrors what has been <a href="https://petewargent.blogspot.co.uk/2014/11/genworth-q3" target="_blank">reported by Genworth (ASX: GMA) in Q3</a>, that delinquency rates have been cascading lower by book year since FY2008.
<img src="https://4.bp.blogspot.com/-iMv-Wc5yns0/VGaYJx9iI_I/AAAAAAAAROg/lbdTaLoqO7w/s640/GMA1.jpg">
That's great to see, with foreclosures in Australia now considered to be "<a href="https://petewargent.blogspot.co.uk/2014/04/stress" target="_blank">vanishingly rare</a>".
Arrears to Rise from Exceptionally Low Levels? 
One would think almost certainly, yes. There is realistically only one direction in which mortgage arrears can head over the medium term from such a pleasingly low base. Relatively low interest rates are more or less a 'shoo-in' for most of the remainder of this decade, but the other major factor which can cause mortgage arrears - unemployment - is rising in eminence across many regions of Australia.
<img src="https://1.bp.blogspot.com/-rebYUuOgS_E/VI3XQNQk8UI/AAAAAAAAR5g/9PSOV1YkK7Q/s1600/b2.jpg">
Where are the Risk Areas?
We will take an updated look at the latest unemployment rates by region data on Thursday of this week, but here are a few of the regions where unemployment rates have increased concerningly.
<img src="https://2.bp.blogspot.com/-E86GaqEpdTw/VI2Xh26I1-I/AAAAAAAAR4w/WXLYkm7KToU/s1600/LOGAN.jpg">
<a href="https://petewargent.blogspot.co.uk/2014/11/abc-cuts-10-percent-of-staff-and-sa" target="_blank">Recent reports have also highlighted</a> the elevated risk of credit default in a number of Queensland regions as the unemployment rate rises.
We'd add to this list of potential risk areas parts of South Australia where a weak labour market and consumer confidence have contributed to 5 year declines in median house prices in a number of outer suburbs such as Davoren Park, Elizabeth North,  Elizabeth East, Craigmore, and so on.
Fair Warning - Industry Closure Risk
Some on the chat forums have chosen to highlight that withdrawal of Holden may only directly result in a relatively small number of jobs and they have therefore dismissed the risk as insignificant.
That's one way to look at it, but a market is made up by the full range of views, and in this case we'll take the sell side of the equation.
As pointed out here previously, when one considers the total number of jobs which are likely to be lost from the shuttering of the car manufacture industry over the next few years - including from suppliers and support industries - in concert with flow-through impacts of rescinded business investment, consumer spending and so on - the potential impact on economic output of some $29 billion and up to 200,000 jobs nationwide could be <a href="https://www.propertyobserver.com.au/https://www.abc.net.au/news/2014-04-14/study-warns-carmakers-exit-could-see-200000-jobs-lost/5389682" target="_blank">prodigious</a>.
It's easy to dismiss the closure of the Holden plant as overblown, and to state that those who do lose their jobs can be redeployed.
Indeed so, but whether or not they can be redeployed within South Australia is another matter entirely.
If the forecast 24,000 jobs are lost in the state, note that the economy has taken fully seven years to add 24,000 jobs, and has added a net total of zero over the last four.
<img src="https://2.bp.blogspot.com/-qF47FgelF4g/VI3jrxoShBI/AAAAAAAAR5w/ceSC1asejvE/s1600/SOuth%2BAustralia.jpg">
A similar point stands for Geelong (and I own property in Geelong, so this is not merely the viewpoint of vested interest).
Article continues on the next page. Please click below.
<hr class="system-pagebreak">
Positive Investment Decisions
Buying a home to live in is one thing, of course, but the primary advantage that a property investor has is that they are not compelled to buy property anywhere or at any time, so the shuttering of an entire industry should act as an automatic red flag.
"It might not be that bad" is not a compelling case for an investment decision.
Anyway, that's our view - that you should look for thriving economies, not those about to be sideswiped by a king-hit - so fair warning.
We'll provide an updated report on trends in elevated unemployment rates by region on Thursday of this week, so stay tuned for that.
In the meantime if there is one phrase to look out for which should always make property investors wince it is that "prices can't fall further in this region", which is another alarm bell which has so often foreshadowed financial loss.
MYEFO Impacts - The "Shock Absorber"
In the forthcoming MYEFO Treasurer Hockey will announce that the budget will be used as a "shock absorber" to shield the downside to the Australian economy from its declining terms of trade, driven by falls in key commodity prices, in particular that of iron ore.
<img src="https://3.bp.blogspot.com/-cXcsJ4JwoNs/VI3Ln628PBI/AAAAAAAAR5M/VdpOpY9Q8U8/s1600/IO%2Bprice.jpg">
What will this "shock absorber" mean? We will have to wait for the details, but one might expect to hear announcements concerning the following:
<ul>
<li>heavy government expenditure of infrastructure projects; and </li>
<li>thousands of jobs to be cut from the merger of closure of scores of government agencies, particularly in Canberra.</li>
</ul>
Potentially thousands of job cuts does not bode at all well for Canberra or the ACT housing markets in 2015, with rents already declining and now dwelling prices looking set to follow suit. Pass.
"Busting Labour Market Myths" 
Our chart packs have consistently revealed a worrying trend in Australia in recent years, that with the honourable exception of Queensland, <a href="https://petewargent.blogspot.co.uk/2014/10/city-versus-country-widening-jobs-gulf" target="_blank">regional Australia is not creating jobs</a> in aggregate and unemployment is therefore rising worryingly in many regional centres and net population growth must in turn slow.
One of Australia's leading economic journalists Peter Martin takes aim at another of the great labour market myths in his piece 'Busting Labour Market Myths' in <a href="https://www.theage.com.au/federal-politics/political-opinion/busting-labour-market-myths-why-your-job-is-far-more-secure-than-you-think-20141213-125ggs" target="_blank">The Age</a>: "Of course we'll tell our children that they'll be doing more telework – working from home, cafes, etc. 
"Everyone knows that's true. The last government said it enough while spruiking the NBN. 
"It isn't true - at least not so far.
"Only 5% of us describe home as our main place of work, and nearly all of them are self-employed. 
 "Only around 1.5% of workers for employers describe home as their main place of work, and if anything the proportion has slipped in the past decade.
 "All up, the labour market is changing (fewer of us are employed in manufacturing for instance) but it isn't changing in many of the ways that we think.".
Quite so.
Working from Home has Declined
The short report which Peter Martin is referencing here is the enlightening <a href="https://onlinelibrary.wiley.com/enhanced/doi/10.1111/1467-8462.12085/" target="_blank">Two Decades of Change</a> document, which is well worth a read.
The report reveals some interesting trends, highlighting for example how the southern states have fallen way behind in terms of their economies and labour market growth, with employment growth in Tasmania and now South Australia in particular having tanked and unemployment now rising, trends which have been highlighted here previously.
<img src="https://1.bp.blogspot.com/-hbgxMa94YRQ/VI2aCWTYmkI/AAAAAAAAR48/X1J9YlRNRzw/s1600/sa.jpg">
The Working from Home 'Phenomenon'? On the working from home phenomenon, the Two Decades of Change report is quite conclusive:
"Yet another often-heard claim is that, facilitated by changes and advances in information and communication technology, work is increasingly being undertaken away from conventional workplaces, and more specifically in the homes of workers. 
"However, the available survey evidence provides little support for such a claim. Analysis of data from the HILDA Survey by Wooden and Fok (<a href="https://onlinelibrary.wiley.com/enhanced/doi/10.1111/1467-8462.12085/#aere12085-bib-0022" title="Link to bibliographic citation">2013</a>), for example, shows:
"While taking work home is relatively common (with almost 23% of Australian workers reporting doing at least some paid work at home each week), for relatively few workers (just 5%) could home be described as their main location of work.
"The majority of this small group of home workers is self-employed—only a little over 1% of employees spend the majority of their work hours at home.
"If anything, the incidence of working at home fell over the course of the last decade.
"Such conclusions are broadly consistent with survey data periodically collected by the ABS as part of its Locations of Work Survey (ABS Cat. no. 6275.0). 
"Notably, the incidence of employed persons who report that their home is their main place of employment fell slightly between 2000 and 2008 (from 7.1% to 6.4%)."
This is indeed commensurate with what was concluded by the ABS Locations of Work survey as reported here previously.
In fact, the principal reason given by survey respondents for working from home was that they had become "snowed under" and fallen way behind on their workloads in the their main workplace.
All available <a href="https://petewargent.blogspot.co.uk/2014/07/x" target="_blank">studies</a> and <a href="https://petewargent.blogspot.co.uk/2014/05/rba-on-housing" target="_blank">reports</a> have shown that, quite apart from undertaking a sea-change and heading en masse for the regions, Australia's capital cities are in fact becoming increasingly centrally focused in terms of population growth, dwelling price growth, economic growth and employment growth.
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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pwargent-M4siyDbqQY

Mortgage arrears decline to seven year lows... so where are the risks?

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Australia has always relied on overseas immigration to help sustain our population and wealth, however according to figures published by the OECD, our immigration rates have been remarkably stable.
In 1995 non-Australian born residents accounted for 23% of the population and in 2011 that figure had only increased to 26.7%, for comparison in Canada the figure was 20.1%, in the UK 12%, the USA 13% and in New Zealand 23.6%.
At the same time as immigration has been very stable, investment inflows from offshore have been growing but there does not appear to be any direct link with high house prices. According to the OECD real house prices increased by 9.7% in 2010 (the most recent peak in prices) but they went into reverse in 2011 &amp; 2012 by 5.0% and 3.3% to increase by 3.8% in 2013, and in many ways 2014 continues a period of catch up, not withstanding the activities of foreign buyers.
While prices have been increasing over the years 2013-14 and affordability has fallen mainly because of high prices, interest rates have been very low. But it appears many Australians may still be facing a struggle to afford a home. One indicator is that the national savings rate, the percentage of disposable income that is saved has according to the OECD been in a steady decline; in 2011 the figure stood at 11.8% and in 2015 it is expected to be 9.3%.
Outside of the rate of foreign investment into Australia, we do not have to look very far beyond the ever increasing number of free trade agreements, or indeed the very presence of the G20 Leaders meeting in Brisbane to realise that we are very much tied up in the world economy. It is in fact an understatement of the reality.
However to single out foreign investment, which is not a new trend, for special treatment in the current state of the housing market, looks to deny the reality. If Sydney and other centres are to be seen as major players, so called ‘international cities’, then we need to accept that offshore buyers will be attracted to our residential markets. The investment and growth should create a stronger economy and more employment opportunities.
Fears about inflated prices, absentee owners and the creation of ethnic clusters look out of place in today’s world. However this does not mean that offshore buyers should operate outside the law and to date there is little evidence to answer that question one way or the other.
There is little doubt that the report issued recently does make some concrete points, not the least of which is an urgent need to improve reporting and enforcement by the FIRB. The move to civil penalties and fines for third parties, and the sharing of data between the Immigration Department and FIRB may also be well overdue and sensible measures.
However this will remain an emotive topic, and it’s also one where the question of ‘fairness’ surrounding the current rules will continue to come into question for as long as there is an incomplete picture of the market. Why the FIRB should have fallen so far short of the mark, may reflect badly on how different areas of government are being and have been under-resourced. And it is not only the FIRB.
Recently the ABS has come under the same sort of scrutiny, has been found wanting and also in a related area. When releasing the most recent housing finance figures the ABS has drawn attention to the fact that FHB loans may be under reported because not all FHB loans are tied to buyer grants and so some lenders figures may be wrong. While the FIRB recent enforcement might be in the view of the committee and community ‘grossly inadequate’, such failures need to be addressed.
The $70 billion residential construction sector relies on a stable flow of investment. To retain that level of investment we should not mix emotional questions of ‘fairness’ without reliable figures.
In 2012-13 real estate was the biggest sector of foreign investment into Australia, at $51.9 billion however, the majority of that was commercial real estate. We should also keep in mind that while China was the biggest source of investment at $5.9 billion in 2012-13, Canada invested $4.9 billion and the USA $4.4 billion, figures that I think show that we are part of a vibrant international market.
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pchittenden-eLqUUC8TWW

Foreign buyers: Don't mix emotional questions of ‘fairness’ without reliable figures

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I'd like to think that a couple of weeks before Christmas that I'd be winding down.
Taking stock of the amazing amount of development projects that Property Bloom has completed in 2014 (no wonder I'm tired) and finalising the projects currently under management ready for the Christmas break.  
But no.  I've just heard about a new land release that I'm extremely excited about due to its prime location and will be busy securing duplex sites right up until Christmas.
This crazy time of year made me think about work capacity and how deadlines help us.  It's interesting to see just how much work you can get done when you have a deadline to meet. Most of us use Christmas for a deadline.  I've spoken to lots of investors recently who say, "I'll look at it after Christmas". 
To me, winding down is lost time - you can really take advantage if you remain productive in the lead up to Christmas.  Whilst others are thinking about their Christmas shopping, you could be assessing property deals and making offers.
When we’re working against a deadline, we know that we don’t have time to spare; if something is due then we simply can’t afford to waste time. The result is that we’re a lot more diligent about ignoring the little time-wasters that would usually derail us like those crazy animated Christmas emails.
Remember Newton's first law of motion - sometimes referred to as the law of inertia? An object at rest stays at rest and an object in motion stays in motion with the same speed and in the same direction unless acted upon by an unbalanced force.
Perhaps our 'unbalanced force' is Christmas right now.  I'm planning to 'stay in motion' right up until Christmas Eve (and probably beyond) for two reasons; one I don't want to miss a property development opportunity and two I have not done any Christmas shopping yet!
<a href="https://www.propertybloom.com.au" target="_blank">www.propertybloom.com.au</a>
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Winding down is lost time: Using the Christmas deadline to your advantage

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The lead image says it all really. CBD-based aerial photography firm <a href="http://www.lensaloft.com.au/">Lenasoft</a> captured Melbourne at its magnificent best, with no shortage of cranes visible. In a year like no other relating to development, we've witnessed an ever increasing batch of highly impressive projects come into the pipeline, while the overall construction scene has never been busier.

Opinions will vary tremendously, but this is Apartments.com.au's the good, the bad and the ugly for 2014.

<h2>The Good</h2>

The continued influx of Asian developers has bought on a different design dynamic throughout 2014. With comparatively grander intentions than domestic developers and with the financial backing to match, some exceptional proposals have been put forward and approved in the course of this year. If development is to occur, it should be of the highest possible design quality and our perception is there's no shortage at the moment; <a href="/buildings/380-melbourne-380-lonsdale-street-melbourne">380 Lonsdale Street</a> nudging out all others as our favourite design for 2014.

In a market sense, Melbourne just keeps going! Perhaps it is a sign of the underlying strength of the residential sector, but I can't think of an apartment project during 2014 that failed to materialise once sales had begun; there'd be a handful out there no doubt. Elsewhere commercial, retail and particularly institutional development has fired throughout the year. Has the development cycle flattened out to be perpetually busy in a sign of Melbourne's increasing population and overall maturity?

<h2>The bad</h2>

Is there an ongoing, subtle erosion of Melbourne's heritage character? Yes.

I'm not necessarily referring to headline firestorms such as The Palace on Bourke Street, but the smaller projects that only garner comment on websites and forums dedicated to such matters. 36-40 La Trobe Street and 137 Bourke Street have been demolished while <a href="/news/planning-application-488-494-la-trobe-street-west-melbourne">488-494 La Trobe Street</a> looks to be going the same way. Is facadism better than nothing? Have City of Melbourne and state authorities implemented adequate heritage controls?

No doubt buyers in <a href="/new-apartments/150-queen-street-melbourne">Tower Melbourne</a> would be ill at ease after the marquee project has been in hiatus for 2014, as two rival developers have been mired down in legal wrangling regarding adjoining developments. A bad outcome all round!

On a micro level, we've had more than enough individual correspondence this year involving the average domestic buyer (such as you or I) - in the position of finding the best apartments within a given project - have been snapped up either by channel investors or overseas buyers. As always opportunity will arise and the market will address this by innovative means, look no further than Apartment Register.

<h2>The ugly</h2>

The two-horse race will continue into 2015, but there's no doubt the two ugliest affairs of 2014 were The Palace saga and East West Link.

The Palace involved a fourth planning application for the site this year, belated height controls for the precinct, public discontent, the removal of what many consider to be treasured interiors of the venue; Benny Hill show, anyone? While so many planning applications delivered excellent outcomes over the course of the year, The Palace leaves a sour taste in the mouth in so much that it's the pin-up for what happens when developers with intent meet with lackluster planning controls. Everything has gone wrong!

The key to East West Link is also mass (and I emphasize mass) public discontent, for it doesn't occur all that often. From protests early in the year to the tearing up of contracts, it's never been far from the headlines.

The advancement of the city's infrastructure which will cater for our booming population is of paramount importance; no politics thanks although unfortunately one feels both are intrinsically entwined. How much of a financial and infrastructure blunder the East West Link will be seen as will only become apparent during 2015, when the build consortium is remunerated and more importantly how quickly and to which replacement infrastructure projects will funding flow to.

<h2>Thanks to those who matter</h2>

After a long year, we've forged ahead thanks to the hard work and dedication of a select group of people (you know who you are) and the ever present support from many, many industry participants as well.

With all said and done for 2014, we wish all our readers a relaxing and fulfilling festive period. Apartments.com.au will see you again - and be back to our normal publishing regime - on Monday January 12th 2015.
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silvermb

The year that was 2014

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The Housing Industry Association’s (HIA) latest Stamp Duty Watch report has criticised first home owners grants, noting that in the majority of states the grant doesn’t even cover the stamp duty bill, even when considering stamp duty concessions.
HIA senior economist Shane Garrett looked closely at the different states and the effect of grants and concessions for first home buyers, concluding that the result is unimpressive.
“While FHBs receive grants from state governments and concessions on stamp duty in several states, the overall effect of these supports is unimpressive,” said Garrett.
If buying a median priced new home, he said that New South Wales, Victoria and Western Australia will cost more than the grant on the stamp duty bill alone. In South Australia and the ACT, they are left with a few hundred dollars.
Of course, first home buyers will not always look at median priced homes and this equation does look somewhat more attractive as the price is reduced and, subsequently, the stamp duty cost decreases.
“Stamp duty bands and rates do not respond to episodes of strong price growth,” he said, saying it had detrimental effects on home affordability.
“The tax adds hugely to household indebtedness by forcing monthly mortgage repayments upwards. Reform aimed at reducing the burden of the tax must become a priority for both state and federal governments,” he said.
 
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