Builder-developer <a href="https://www.apartments.com.au/developers/mcnab-developments">McNab</a> has wasted little time reshaping one of South Brisbane's most significant undeveloped apartment sites after acquiring the property earlier this year.&nbsp;

McNab has lodged plans to scrap an existing approval for two 30-storey towers and instead deliver a single 28-storey residential building, preserving part of the site for a future development opportunity.

The proposal, lodged over <a href="https://www.apartments.com.au/new-apartments/64-peel-street-south-brisbane-qld-4101">64 Peel Street and 9 Cordelia Street</a>, is for a residential-led mixed-use development comprising 124 apartments above a landscaped podium, alongside a boundary realignment that preserves part of the land for a future residential project.

<img alt="First look: McNab resets decade-old South Brisbane approval with 124-apartment tower" data-entity-type="file" data-entity-uuid="743bf564-3f8f-45fc-b8d3-bbf18f5b628f" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/mcnab%20Peel%20st%20podium.png?VersionId=EhCxGrVn_VFH3qTbKnI4WppGwaMnOn0t" />

Designed by <a href="https://www.apartments.com.au/architects/hayball">Hayball</a>, the development will deliver 119 two-bedroom and five three-bedroom apartments across 23 residential levels. A five-level podium will accommodate 135 car spaces, while the ground floor will include a 66 sqm commercial tenancy, an activated residential lobby with work-from-home spaces, and a publicly accessible landscaped plaza linking Cordelia and Peel streets.&nbsp;

Communal amenities will span Level 6 and the rooftop, including indoor and outdoor recreation spaces, a swimming pool, barbecue facilities, kitchen and dining areas, lawn space, sauna, steam room and yoga facilities.

The application also proposes a boundary realignment to create a standalone 1,290 sqm development lot while retaining an adjacent parcel for future redevelopment, allowing the balance of the site to contribute additional housing over time.

Hayball said the architecture has been shaped by the site's elevated corner position at the intersection of Peel and Cordelia streets and Brisbane's subtropical climate.

The design incorporates generous landscaped setbacks, a masonry podium wrapped with planting, large north-facing balconies, and a slender tower profile intended to maximise natural light, cross ventilation and long-range views. The rooftop has been conceived as a wellness-focused retreat overlooking Brisbane, with amenities positioned to capture views towards Mount Coot-tha and the CBD.

<img alt="First look: McNab resets decade-old South Brisbane approval with 124-apartment tower" data-entity-type="file" data-entity-uuid="c5f99e84-6ad8-4a87-82d1-869685b754d2" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/mcnab%20tower%20perspective.png?VersionId=Gw0IuJaSAlk.tvGBxInhZOcQAdIB..2b" />

The planning submission positions the proposal as a response to both changing market conditions and Brisbane's Kurilpa Sustainable Growth Precinct planning reforms.

McNab acquired the site after the previous approval was granted, with the existing scheme no longer reflecting current residential market demands, economic conditions, construction challenges, construction efficiencies or the quality of development outcome now being pursued, the planning report noted.

McNab continues to expand its residential development pipeline across Brisbane and the Gold Coast. The developer recently launched The Tannery in West End, securing more than 60 per cent of apartments before the project's public release. It is also delivering Elements Budds Beach in Surfers Paradise and Lucia Highgate Hill, an eight-apartment boutique development overlooking the Brisbane River.

Joel Robinson

McNab resets decade-old South Brisbane approval with 124-apartment tower

A steeply sloping Bellevue Hill site is set to accommodate a new mid-rise apartment development, with plans lodged for 20 homes that respond to the site's dramatic topography.

The proposal for the consolidated land at <a href="https://www.apartments.com.au/new-apartments/138a-140-bellevue-road-bellevue-hill-nsw-2023">138A-140 Bellevue Road</a> has been designed by Sydney architecture practice Common Office, which has used the site’s substantial fall to distribute the building’s scale and unlock 20 apartments without presenting the full height to the street.&nbsp;

“The unique design strategy leverages the site’s substantial topographical fall to facilitate increased density, presenting a seven-storey profile to Bellevue Road while rising to 10 storeys at the rear,” Common Office said in its architectural design report.

The apartment mix spans one, two, three- and four-bedroom residences. Four two-bedroom apartments are designated as affordable housing, while the plans also include two adaptable dwellings. The mix is majority three-beds, with the typical three-bed apartment offering around 144 sqm internally, with balconies of around 15 sqm.

The affordable housing component represents 15 per cent of the residential floor area and allows the project to access additional height and floor space under the NSW Government’s in-fill affordable housing provisions. The site also falls within the inner area of the Low and Mid-Rise Housing Policy because it is within 400 metres walking distance of Double Bay Town Centre.

<img alt="First Look: Plans lodged for topography-led affordable housing project in Bellevue Hill" data-entity-type="file" data-entity-uuid="b1230d0f-3bfa-4a11-abaf-0928c66ef345" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Bellevue%20da.png?VersionId=dZeMK3P.OutGjN8ycjsxm8uNsj_QFWQv" />

Common Office has arranged the building around a masonry podium and a lighter upper volume, drawing on two recurring elements of Bellevue Hill’s established architecture: sandstone bases and the vertical proportions of local Inter-war Art Deco apartment buildings.

“The proposal is governed by a holistic design language that reconciles the solid horizontal masonry of the neighbourhood’s podiums with the elegant verticality of its Art Deco heritage,” the architect said.

“The building maintains a consistent rhythmic logic utilising deep recesses and a sophisticated material transition to break down the 10-storey scale into a series of articulated, human-scale volumes.”

<img alt="First Look: Plans lodged for topography-led affordable housing project in Bellevue Hill" data-entity-type="file" data-entity-uuid="0147f503-1af1-4d51-97fb-c2f1cba63a9d" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Bellevue%20bldg.png?VersionId=GoW7q3NlK67OpnePXhk7zvklrlKb72Qc" />

Large-format sandstone tiles will define the lower levels, establishing a robust base that negotiates the change in elevation from Bellevue Road. Above, red-tinted precast concrete frames, recessed balconies, anodised aluminium screens and expanded metal details will create a more vertically expressed façade. Integrated planter beds will introduce greenery across balcony edges and recessed sections of the building.

The elongated northern façade has been divided into three recessed vertical masses to reduce its perceived length. Triangular window elements and metal privacy screens reference the geometry of nearby Art Deco buildings while controlling overlooking toward surrounding homes. The southern elevation will incorporate further privacy screening, landscaped edges and deep balconies to maintain light and ventilation.

<img alt="First Look: Plans lodged for topography-led affordable housing project in Bellevue Hill" data-entity-type="file" data-entity-uuid="e8679cf1-18bc-4447-8a0f-0052b94ab83c" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Bellevue%20da%20rooftop.png?VersionId=5SQqQqRFf76rvE2p1TbxJSweMN70AIbc" />

Private and communal landscaping is distributed throughout the development. A landscaped garden apartment is positioned within the lower portion of the site, while a communal terrace on Level 5 will include a central timber deck, barbecue facilities, resident planting plots and areas for outdoor dining and informal gatherings.

Common Office described the terrace as an elevated sanctuary designed to capture district views and sunlight. Its planting strategy incorporates endemic species associated with the Eastern Suburbs Banksia Scrub, extending the landscape vertically through the building and providing habitat for local flora and fauna.

A second communal outdoor area is proposed at roof level, with built-in seating, paved gathering areas and perimeter planting.

Bellevue Hill is enjoying renewed momentum in the new apartment market, with several boutique developments recently launched and currently under construction. Positive Investment Enterprise is delivering the 16-apartment Kew Palm House on Birriga Road, while Chanine Developments is also under construction at Florian, a 36-apartment project on Banksia Road.

&nbsp;

Bellevue Hill is enjoying renewed momentum in the new apartment market, with several boutique developments recently launched and currently under construction.

First Look: Apartment development pitched for Bellevue Hill, Double Bay fringe

South Brisbane's apartment pipeline continues to build momentum, with <a href="https://www.apartments.com.au/developers/trk-property-group">TRK Property Group</a> lodging plans for a 161-apartment tower on Montague Road as developers accelerate investment across the Kurilpa Sustainable Growth Precinct.

The proposal for 176–186 Montague Road would replace an existing office building with a 20-storey residential tower designed by <a href="https://www.apartments.com.au/architects/cox-architecture">COX Architecture</a>, adding to a growing pipeline of high-density projects reshaping one of Brisbane's fastest-evolving inner-city precincts.

The project has been conceived as a "living building", featuring a flowing tower form, extensive vertical landscaping, and generous communal spaces that respond to the evolving Kurilpa Sustainable Growth Precinct.

TRK Property Group Development Director Matt Kan said the project reflected the confidence developers have in South Brisbane's long-term future.

"South Brisbane is entering an incredibly exciting period, and we see Montague Road sitting right at the heart of that evolution," Kan said.

"With the former Visy site directly opposite us and significant investment planned throughout the broader Kurilpa precinct, there is a real sense of momentum around this part of the city and what it will become over the coming years.

"For TRK, this is an opportunity to be part of that next chapter and deliver a project that responds to where the precinct is heading, while contributing to the continued evolution of Brisbane's river edge."

<img alt="First look: TRK Property joins South Brisbane apartment surge with Montague Road tower plans" data-entity-type="file" data-entity-uuid="590fe1ad-f892-4446-a679-80e33a16d029" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/TRK%20tower%20facade.png?VersionId=uOJStrcKpyHFcPE1w6_9SMAFzVMCcZll" />

The scheme includes a mix of one, two, three and four-bedroom apartments, incorporating multi-purpose rooms in selected residences to provide additional flexibility for home offices or expanded living areas. The proposed mix comprises 15 one-bedroom, 13 one-bedroom plus MPR, 73 two-bedroom, 26 two-bedroom plus MPR, 30 three-bedroom, and four four-bedroom apartments.

Rather than adopting a conventional rectilinear tower, COX Architecture has developed a sculpted form inspired by the movement of the Brisbane River.

"The proposal has been designed by COX Architecture as a 'living building' that responds to the site's riverine setting, floodplain history and evolving urban context within the Kurilpa Sustainable Growth Precinct," the planning report states.

"The architectural form draws from the fluid nature of the Brisbane River, with a curved and undulating tower form that creates a varied architectural edge and avoids a conventional rectilinear tower expression."

The podium has also been designed as an architectural feature rather than a conventional parking structure, with cascading planting, screening and natural-toned materials softening its appearance. Resident parking is elevated above ground level to address the site's flood constraints, while habitable apartments sit above flood planning levels. Upper-level communal facilities are designed to accommodate shelter-in-place arrangements during major flood events.

<img alt="First look: TRK Property joins South Brisbane apartment surge with Montague Road tower plans" data-entity-type="file" data-entity-uuid="01fa15d0-90df-46c7-9555-7941fc45373c" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/TRK%20podium.png?VersionId=mHyua.w1pHGBt9qEdWzrlsv.leztUCwO" />

Communal amenity is a major focus of the proposal. Around 1,815 sqm of shared resident space is proposed across the ground floor, level 19 and the rooftop, including co-working areas, indoor and outdoor recreation spaces, wellness facilities, dining and gathering areas, lawn spaces, a rooftop pool and spa, and extensive landscaping. At street level, a landscaped forecourt and approximately 345 sqm of publicly accessible open space along Montague Road are intended to improve the pedestrian experience while activating the building's frontage.

The development will provide 163 car spaces, including 152 resident bays and 11 visitor spaces, together with 144 bicycle spaces incorporating resident storage, visitor parking, bicycle maintenance facilities and e-mobility charging infrastructure.

The site sits within one of Brisbane's fastest-changing inner-city precincts, less than two kilometres from the CBD and within easy reach of South Bank, West End, the Queensland Cultural Centre and extensive public transport connections. The Kurilpa Sustainable Growth Precinct planning framework is encouraging higher-density residential development to help meet Brisbane's housing supply targets while supporting walkable, transit-oriented neighbourhoods.

TRK Property joins South Brisbane apartment surge with Montague Road tower plans

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]

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

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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<img src="/images/stories/misfortunequote.gif"> – RSL chief executive Chris McHugh, who notes the Gold Coast prestige property slump meant the charity had been able to get near beachfront bargains to then raffle off in fundraisers.
The latest offering from the RSL Art Union is a four-storey house with four bedrooms, a study, four-car garaging and a lift for all levels. It sold at $5 million in boomtime 2006 – and the RSL Art Union has valued the house at $3.4 million.
{yoogallery src=[images/stories/jan13broadbeach]}
But the RSL Art Union only paid $2.2 million for the Broadbeach property two weeks after its Ray White auction last January.
The <a target="_blank" href="https://www.rslartunion.com.au/home.aspx">RSL Art Union</a> is licensed to sell 1.9 million tickets at $5 before the March 14 raffle draw, potentially recouping $8.5 million if all tickets were sold. Tickets are on sale at its open for inspections.
The raffling of the <a target="_blank" href="https://www.surroundpix.com.au/real-estate/qld/broadbeach/4218/340334/virtual-tours/">Broadbeach Boulevarde mansion</a> that sits within the Vogue compound built by Mark Howard's Howard Group in 2003 beats the record for the most expensive prize home set last month.
It was a Gold Coast oceanfront penthouse valued at $3 million raffled by Boystown.
Some 80% of the art union prize winners sold their homes immediately.
 
 
 
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jchancellor-FAypfDUnLy

Gold Coast property raffles hitting the big time during slump: Quote of the week

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Economists are tipping the central bank to deliver a 25-basis-point cut to interest rates at its February 7 meeting, a move that would almost certainly boost the property market.
The futures market is pricing in a 99% probability that the RBA will cut rates when it next meets.
Westpac chief economist Bill Evans, who has arguably the best recent track record for forecasting rate movements, having called the November and December cuts in July, is sticking with his view that the Reserve Bank will cut the cash rate to 4% in February and then once more before the end of the year as part of a 100-basis-point easing cycle. 
Evans’ chief reasons for a February rate cut are weakening world growth, as well as domestic constraints. 
“The domestic economy faces headwinds: interest rates, the high dollar, stretched housing affordability, household debt and fiscal consolidation. 
“Together, these factors suggest the consumer, housing construction and public investment will restrain growth. In short, the risk is that growth will persist at a sub-trend pace for a little longer,” Evans says. 
If the RBA is looking for data to confirm a rate cut, the most recent housing credit and retail sales figures should provide the impetus. 
In November housing credit rose by just 0.5% to be 5.7% higher over the year, the weakest annual growth since records began in 1977, while in the lead-up to the Christmas sales retail turnover remained unchanged in November at $20.9 billion on a seasonally adjusted basis following 0.2% rise the previous month.
A February rate cut is also forecast by St George Bank’s chief economist Besa Deda, mainly as a result of continued uncertainty in Europe.
Deda says there are likely to be two cuts in 2012 but that external factors are likely to play a large part in determining what the RBA will do.
"Ultimately, how much cutting the RBA does in this easing cycle will depend significantly on European developments," Deda says in an investor’s note. “The deeper the European crisis, the more easing the RBA might need to do." 
A rate cut will be welcomed by many sections of the property market. 
Property Group Ray White booked $2.1 billion in sales in December, with chairman Brian White saying this was an even better than $2.4 billion worth of business done in November when compared on a sales-per-working-day basis. 
White says the result is “more proof that the recent reduction in interest rates is continuing to lift activity, giving confidence to purchasers that a continuing fear of more rate rises will not eventuate”.
Mortgage broker AFG recorded a 5.4% increase in mortgage sales in December 2011 compared with December 2010, with the strongest growth occurring in South Australia (44.8%), NSW (up 15.6%) and Queensland (7.7%).
This follows <a target="_blank" href="/news">AFG brokers writing $2.9 billion of mortgages in November, its highest such figure since March 2009</a>.
AFG also found that as interest rates have fallen, non-major bank lenders increased their share of lending to close a quarter of all loans, compared with an average of less than 20% over the past year.
“This trend will help keep rates competitive as we move into 2012,” says Mark Hewitt, general manager of sales and operations at AFG.
“If the expected rate reductions come through over the next quarter, we could see a very different lending environment, supporting the recovery of property markets across Australia.
“The rate cut has certainly stimulated demand.”
Further cuts in the cash rate are expected to stimulate more first-time home buyers.
Of the 300 first-home buyers surveyed by real estate website realestateview.com.au, more than half (57%) listed interest rate hikes as a major concern. 
The survey found that only 20% of buyers thought it was a good time to buy their first property. 
Later today, ANZ will make its first interest rate decision out of step with the RBA.
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lschlesinger-FZcF9M3vE6

February rate cut tipped to boost Australian housing market

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The Queensland government has listened to the pleas of the property industry and will extend the $10,000 Queensland building boost for a further three months.
Deputy premier and treasurer Andrew Fraser says the boost is beginning to make headway in the housing industry.
Figures put out by the Queensland government show a jump in applications received over the past three months, with application numbers now over 3,700 since the stimulus scheme kicked off on August 1 last year.
<table border="0" cellspacing="0" cellpadding="0"><tbody>
<tr>
<td width="155" valign="top">
Date
</td>
<td width="166" valign="top">
Applications received
</td>
</tr>
<tr>
<td width="155" valign="top">
August 26,2011
</td>
<td width="166" valign="top">
100
</td>
</tr>
<tr>
<td width="155" valign="top">
September 30,2011
</td>
<td width="166" valign="top">
569
</td>
</tr>
<tr>
<td width="155" valign="top">
October 28,2011
</td>
<td width="166" valign="top">
1,174
</td>
</tr>
<tr>
<td width="155" valign="top">
November 25,2011
</td>
<td width="166" valign="top">
2,038
</td>
</tr>
<tr>
<td width="155" valign="top">
December 30,2011
</td>
<td width="166" valign="top">
3,221
</td>
</tr>
<tr>
<td width="155" valign="top">
January 11, 2012
</td>
<td width="166" valign="top">
3,728
</td>
</tr>
</tbody></table>
The $10,000 grant is available to all home purchasers buying or building a new home worth less than $600,000.
A lobbying group made up of the Housing Industry Association, the Property Council of Australia, Master Builders Australia and the Urban Development Institute of Australia has been calling on the Queensland government to extend the boost, as has property developer Stockland.
Speaking to Property Observer, Kathy McDermott, executive director of the Queensland division of the Property Council of Australia, says while the state’s housing sector has shown some signs of improvement in lending approvals in October and November, it is “still in critical condition”. 
“The market is still very distressed and needs support,” she says. 
McDermott says the boost has taken time to gain momentum but the reduction in interest rates in November and December has helped. 
She points to the recent PCA/ANZ property industry sentiment survey, which <a href="https://www.propertyobserver.com.au/residential/australian-property-market-confidence-highest-in-resource-rich-areas-pca-anz-survey/2012011153018" target="_blank">showed that there has been a “nice improvement” in confidence</a> in Queensland, with the state’s confidence index rising above the national average in December – it was below the national average in September. 
The extension has also been welcomed by HIA Queensland executive director Warwick Temby who says it will "help the home building industry to gather some momentum and build on the early signs of recovery late last year".
"The Boost had played a part in rekindling interest in building a home.  Combined with the lift in affordability from lower interest rates and fierce competition among builders, the Boost has made it a great time for building a new home," says Temby.
“This timely announcement will help to set the scene for a much needed lift in activity from the thirty year lows the industry experienced in 2011.
“HIA had been concerned that the Christmas and New Year break was making it difficult for builders to finalise contracts to meet the previous end January deadline.  The three month extension has removed this problem for the industry.
Treasurer Andrew Fraser acknowledges that industry representatives had come to him asking for an extension to the boost, “and that's what we'll provide”.
"They've said to me, and the recent application numbers show, that the boost is increasingly gaining traction with potential buyers.
"Official interest rates have been lowered in recent months, and with the possibility of even more cuts, this $10,000 grant for buying or building a new home means it's never been more attractive to sign on the dotted line and support the state's housing industry.
"A first-home owner also gets the $7,000 state-funded first-home owner's grant and zero stamp duty if the home is worth less than $500,000.
"An end date of April 30 will give developers and builders and extra three months to market the boost and give the housing industry the kick-start it needs."
Fraser says the initial budget allocation of $140 million will cater for the time extension.
"So far we've seen over 3,700 applications for the building boost. There is obviously room within the budget allocation to accommodate the uptake in interest we expect over the next three months.
"Every housing stimulus package always has a large increase in interest at the back end of the time period, with many applications coming in after the end date."
"The HIA Home Sales report shows that Queensland is the only state that has increased the number of new home sales each month from August to November (the most recent month data has been collated for).
"I expect that momentum to swing through December and January and into the next few months as well.
"Building approvals data this week also showed growth for houses.”
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Queensland government to extend building boost until April

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Land values of properties in the Goulburn Mulwaree local government area have dropped over the past three years.
<img src="/images/stories/goulburnmalw.jpg">
The total land value of the Goulburn Mulwaree area was $2.466 billion, a decrease from the total land value of $2.517 billion determined as at July 2008.
The NSW Valuer-General has advised the value of residential land had generally shown a slight increase, the value of commercial land generally remained steady, and industrial land values have shown a decrease.
The value of rural and rural residential land has generally shown a slight decrease, while the value of village land has generally shown a strong increase.
The median rural value also eased over the past year to July 2011 from $187,000 to $185,000.
The median industrial vale eased 3% over the past year from $159,000 to $148,000.
During the past year the residential median in the municipality rose 1.2% from $91,200 to $92,300.
New values are being sent by NSW Valuer-General Philip Western to landowners of 14,236 properties.
"Real estate analysis in the Goulburn Mulwaree LGA has been comprehensive during the course of the 2011 valuation program, with 139 residential, 26 commercial, 9 industrial and 69 rural sales analysed," he said.
There were some exceptions to the norm as while the value of commercial land had generally remained steady, peripheral commercial land in the southern areas had shown a slight decrease in value.
Also industrial land values at Bradfordville and near the Goulburn Correctional Centre had generally remained steady or experienced a slight increase. Typical residential land values were:
<ul>
<li>639 square metres at Chisholm Street, Goulburn valued at $83,700 </li>
<li> 734 square metres at Fitzroy Street, Goulburn valued at $130,000 </li>
<li>613 square metres at Gibson Street, Goulburn valued at $75,100 </li>
<li>792 square metres at Meyer Street, Goulburn valued at $98,600 </li>
<li>564 square metres at Robinson Street, Goulburn valued at $97,900 </li>
<li>753 square metres at Wilmot Street, Goulburn valued at $82,700 </li>
<li>740 square metres at McGuire Drive, Goulburn valued at $92,700. </li>
</ul>
Typical commercial land values were:
<ul>
<li>702 square metres at Auburn Street, Goulburn valued at $185,000 </li>
<li>543 square metres at Clifford Street, Goulburn valued at $141,000 </li>
<li>3,766 square metres at Knox Street, Goulburn valued at $234,000 </li>
<li>1,808 square metres at George Street, Marulan valued at $91,000 </li>
<li>1,295 square metres at Lanigan Lane, Goulburn valued at $142,000</li>
</ul>
Typical industrial land values were:
<ul>
<li>809 square metres at Wayo Street, Goulburn valued at $112,000 </li>
<li>5,705 square metres at Wilson Drive, Marulan valued at $275,000 </li>
<li>3,000 square metres at Ross Street, Goulburn valued at $186,000 </li>
<li>4.6 hectares at Finlay Road, Goulburn valued at $180,000</li>
</ul>
Typical rural land values were:
<ul>
<li>155 hectares at Breadalbane Road, Parkesbourne valued at $542,000 </li>
<li>152 hectares at Bungendore Road, Tarago valued at $379,000 </li>
<li>323 hectares at Hume Highway, Marulan valued at $1,040,000 </li>
<li>144 hectares at Middle Arm Road, Middle Arm valued at $575,000 </li>
<li>259 hectares at Annies Lane, Woodhouselee valued at $974,000</li>
</ul>
Typical rural residential land values were:
<ul>
<li>10.3 hectares at Range Road, Mummel valued at $194,000 </li>
<li>10.3 hectares at Currawang Road, Tirrannaville valued at $168,000</li>
</ul>
Typical hobby farm land values were:
<ul>
<li>51.2 hectares at The Lookdown Road, Bungonia valued at $238,000 </li>
<li>10.1 hectares at Hume Highway, Marulan valued at $140,000 </li>
<li>45.7 hectares at Braidwood Road, Tarago valued at $289,000 </li>
<li>40.6 hectares at Steins Road, Middle Arm valued at $231,000 </li>
<li>23.8 hectares at Hume Highway, Marulan valued at $173,000 </li>
<li>37 hectares at Hume Highway, Yarra valued at $185,000 </li>
<li>40.1 hectares at Trappers Way, Mount Wayo valued at $210,000 </li>
</ul>
Typical village land values were:
<ul>
<li>2,049 square metres at Stewart Street, Tarago valued at $83,900 </li>
<li>1,993 square metres at Gold Field Road, Tallong valued at $61,900</li>
</ul>
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Land values fell in Goulburn Mulwaree municipality, NSW, in past three years

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So Christmas has come and gone for another year.  This year again our office remained open for business between the Christmas and New Year period, and prior to Christmas we scheduled open for inspection times each day to allow prospective tenants plenty of notice to attend some inspections during that time.
Over the four days, we ran 70 inspection times and had more than 145 prospective tenants attend our properties. On January 3, we had received 35 applications, and we conducted another 17 inspections during this week and received a further five applications during the first week of January.
I wanted to share this information with everyone because I found several things fascinating over the past 10 days.
Firstly, the majority of agents close between Christmas and New Year.  And yes as a business owner, I would love to have the luxury to close and enjoy the break like everyone else, however as an investor with a vacant property, I want to know everything possible is being done to secure a tenant for me during this period that will minimise both the vacancy period and my stress levels at this time of the year.
While processing applications we found agents who simply closed their front doors.  There was no message on the main telephone line to say they were closed, no information on any of the team’s mobile numbers and nothing on their website to advise of different hours during the festive season.  One of the agents was a Mornington Pennisula agent – surely at this time of the year, wouldn’t business be booming for them?
Other agents closed before Christmas and somehow forgot to tell their tradespeople.  So what happened to those tenants who experienced the terrible storm on Christmas night or on Boxing Day? Well, they rang the plumber and he did what he could do until the agency re-opened days later.  And I while I acknowledge we all have our own way of running a business, I have to ask: how are some of these agencies still in business?
And what about rent received during this period?  Tenants continue to pay electronically and the money still comes through to the agents trust account. But the money still needs to be transferred to the owner.  So what is a reasonable timeframe for an owner to wait until they receive their money?
I have another example of a Melbourne agent who closed on December 23, 2011 and re-opens on January 9, 2012. That’s 16 days!!  How can this be correct?  What about the lost income to both the business and the owners whom have had vacant properties during this time?  If this agent managed my property, let’s just say I would be making some changes immediately as part of my 2012 resolutions.
For me, this highlights that some agents really don’t consider what’s best for their clients at this time of the year, and furthermore agents are really not all the same.
Leah Calnan is the director of <a target="_blank" title="Metro Property Management homepage" href="https://www.metropm.com.au/">Metro Property Management</a> in Victoria and is the chairwoman of the REIV Property Management Chapter.
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leahcalnan-pwE6GD6KY9

Christmas estate agency closures leave tenants and landlords high and dry

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Another year has passed with portents of doom and gloom regarding residential property prices yet again proving incorrect.
The latest information available for 2011 – RP Data-Rismark’s seasonally adjusted hedonic price series for November last year – shows that median dwelling prices returned to growth. Price gains, albeit extremely modest ones, were posted for capital city home values (up by 0.1%) and for regional home prices (up by 0.3%) in the month. While one data point does not a trend make, it does represent the first increase in dwelling prices since December 2010.
As the November 2011 result follows a period of controlled price moderation that has been in place since the middle part of 2010, it provides some hope that the worst of the residential property market slump may now be behind us. Over the year to November 2011 house prices in the capital cities declined by 4.3% (year on year) and unit prices in the capital cities fell by 1.1%. 
<img src="/images/stories/harvey1.gif">
Similarly, national “rest of state” house values fell by 2.5% in the year to November 2011.
There was, predictably, no crash  
Whichever way you slice and dice these outcomes, they are certainly not the bloodbath predicted with monotonous regularity by some commentators last year, following similar levels of bleating over many years before that.
There are some important points to keep in mind when considering the softening (as opposed to crash) in prices that occurred over much of 2011: such a result was not unexpected in an environment of tightening interest rates, yacking by the RBA that more rate hikes were likely, the removal of fiscal stimulus, wide-spread concern over the carbon tax, the perceived instability of the federal government, increasing volatility in the world economy, and increasingly cautious consumers in the post-GFC environment.
Considering these factors the result was reasonable and, as we have already pointed out, considerably better than the predictions of many property doomsayers. In fact, the dwelling price outcomes in the face of such a tough period demonstrate the resilience of the Australian residential property market when compared with the sector in many other open-market economies.
The results were mixed across the states and territories, and across regions, so we should be careful to not generalise too much. At present, dwelling prices are rising, steady, falling, and dropping quite sharply, depending on the local geographical market and dwelling type observed. There are certainly markets that have felt considerable pain from falling prices, such as the Gold Coast for example, but this has been the exception not the rule.
The softening in prices in the year to November 2011 is in stark contrast to the trend evident over the preceding year. According to RP Data-Rismark, capital city house values were up by 5.7%, and units by 6.8%, year on year as of November 2010. Furthermore, price growth in the year before that was even larger – a sizeable 10.9% for capital city housing in the year to November 2009. Meanwhile, national rest of state house values were up by 2.8% over the year to November 2010, and up by 6.4% over the year to November 2009.
<img src="/images/stories/harvey2.gif">
 
Prospects for 2012 
The good news is that with back-to-back rate cuts in November and December 2011 there is every chance we may see a return to dwelling price growth at some stage in 2012. Of course, the variation across regions will continue to be marked – and what happens in Europe will matter – developments there have the prospect of being a game changer. The reality is that nobody can predict exactly how the European debt and deficit fiasco will pan out – there are simply too many variables. 
Vacancy rates remain low in all the capital cities, with Perth, Canberra, Darwin and Sydney incredibly tight, causing the growth in rents to outstrip general inflation. Accordingly, rental yields continue to grow and with interest rates on the way down this means that the attractiveness of purchasing a property, either to get out of the rental market or as an investment, is on the rise.
The bottom line is that a lack of rental properties, cheaper borrowing costs and relatively healthy employment levels are likely to combine to push up housing demand, rents and dwelling prices in 2012.
 
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Of course, the fact that we have had even a moderate softening in dwelling prices provides a catalyst for the property “doomsayers” to chase headlines of an imminent housing crash with renewed zeal. The collapse of the housing market in the United States, and in some other developed economies, is often cited as evidence that the Australian housing market will follow the same path. However, these viewpoints ignore a host of important differences between the Australian housing market and those markets overseas, as HIA has outlined before.
The differences include, for example, that: Australian mortgages are “full recourse”; Australian banks have maintained very tight lending standards; mortgage arrears remain low in Australia; more than 70% of Australian households are owner-occupiers (roughly half of whom own their home outright); and the list goes on. The dissimilarities between the Australian housing market and many overseas markets have been discussed at length in the past, simply cannot be ignored in any rational analysis of the Australian market, and mean that we should not be tarred with the same brush.
Few issues seem to elicit more emotive responses than do dwelling prices and their likely trajectory. And the current divide between those analysts that think the Australian housing market is in prime health and those predicting a collapse is wide and the debate vigorous. The reality is that the recent softening in dwelling prices was simply a mild correction and explained by the economic and political factors that have been at work.
Although the rapid dwelling price growth experienced over the last decade is unlikely to be repeated, it is simply not the case that we are standing on the abyss of a looming housing market crash. Those who continue to peddle the story of an imminent crash in home prices should take the time to reflect on Australia’s inherently sound housing market fundamentals, and the differences between Australian and overseas housing markets (as outlined above). And despite the fact that the doomsayers’ careers seemingly revolve around achieving sensationalist headlines they should at least think about avoiding exaggeration at a time of some fragility in global economic confidence.
<img src="/images/stories/harvey3.gif">
Finally we note, as we have in the past, that Australia does not exist in a policy vacuum – we have ample room to move on both monetary and fiscal policy should it be needed. Indeed, the RBA understands that we need to tap into this policy capacity now – and hopefully the federal government will soon be on board also.
On balance, the HIA Economics Group’s view is that there is now a decent prospect of a return to dwelling price growth at some stage in 2012.
<img src="/images/stories/harvey4.gif">
Barring a complete meltdown in Europe, as interest rates retreat further prospective investors are likely to increasingly favour housing over term-deposits or shaky equity markets. Meanwhile, as the cost of repayments start to align more closely with rent payments, current tenants are also likely to look at making the leap into home ownership.
Andrew Harvey is senior economist at the <a href="https://hia.com.au/" target="_blank">Housing Insdustry Association</a>
 
 
 
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Australia's housing market is not going to crash: HIA's Andrew Harvey

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The Commonwealth Bank has agreed to change the way it advertises its “Wealth Package” home loans due to concerns from ASIC that ads promoting the product did not mention the $350 annual fee in the advertised comparison rate.
The Wealth Package is offered to existing customers who already have a Commonwealth Bank mortgage of at least $150,000.
ASIC said rates used in ads were incorrect and potentially misleading. “Under the National Credit Code, credit ads that include an annual percentage rate must also include a comparison rate. Comparison rates incorporate the fees, charges and interest relating to a loan to better reflect the true cost of credit,” the regulator said. “ASIC was concerned CBA’s home loan ads promoting its Wealth Package loans did not include the Wealth Package $350 annual fee in the advertised comparison rate. “When promoting a package loan, any fee in connection with a loan to qualify for the advertised annual percentage rate must be included in the comparison rate. Not including all fees and charges results in a comparison rate not reflecting the loan’s true cost.” ASIC commissioner Peter Kell says comparison rates help consumers work out the actual cost of credit.
“It can be difficult for people to compare home loans with different combinations of interest rates and fees. This is why credit providers must include the comparison rate when they advertise a rate or a weekly payment for a home loan, and ASIC will be active to ensure compliance in this area,” Kell says.
“Consumers will be more confident if they have information that allows them to properly understand and compare financial products.”
Later this year, ASIC will release a consultation paper on advertising of credit products.
The slap on the wrist for the CBA comes soon after the <a target="_blank" href="/news">launch of home loan key fact sheets</a>, which credit providers must offer customers on request.
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CBA changes home loan ad after ASIC complaint

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In the <a href="https://afr.com/p/national/top_of_pops_in_bubble_brouhaha_pil1zGaAUotPW0vRoUe8WN" target="_blank">Australian Financial Review</a> today journalist Adrian Rollins revisits the debate surrounding whether the RBA should use monetary policy to resist burgeoning asset price bubbles. This is well-trodden territory that I have written about more than most, and Rollins quotes my views in his article. While he does an excellent job of outlining the broad contours of the debate, there is some missing nuance that is worthwhile clarifying.
When I first started thinking about this subject I landed in the camp of those who felt that a central bank that autocratically lifted rates to “lean against” asset price increases – in, say, equities or housing – that were being fuelled by unseemly credit growth (e.g., via leveraged buyouts or a mortgage boom) could do more harm than good.
The first problem is one of policy distraction. Central banks typically have a singular policy goal, which is “price stability”. In simple terms, that means keeping the rate of consumer price inflation within a low and ideally stable band of 2% to 3% per annum.
In recent years the RBA has subtly re-cast the standard “inflation-targeting” model by describing its own approach as a “flexible inflation-targeting” regime. (The best summary of the Antipodean differences is offered in <a href="https://www.rba.gov.au/publications/rdp/2010/2010-06" target="_blank">this RBA paper</a> authored by Paul Bloxham and colleagues.) The introduction of the word “flexible” has been used by the RBA to denote the fact that it now believes it should have the freedom to deviate, in the short term, from the settings necessitated by its through-the-cycle inflation target if “financial stability” concerns warrant such action. In this context, financial stability is being employed as a euphemism for bubble trouble.
The most oft-cited case-study is the 2003 episode, which the RBA has slyly allowed to be rewritten in history as an example of a prescient central bank staunching an incipient house price bubble from emerging via the application of tighter-than-normal interest rate policy.
When pushed, the RBA publicly acknowledges that this is, in fact, <a href="https://www.switzer.com.au/the-experts/christopher-joye/macfarlane-rba-did-not-burst-2003-house-price-bubble-with-interest-rates/" target="_blank">incorrect</a>. That is, monetary policy in 2003 would have been the same with or without rapid house price growth. It was in truth the RBA’s experiment with much more aggressive “open-mouth operations” (exercising moral suasion over punters), and some subsequent changes in APRA’s approach to managing mortgage risk (via the risk-weightings imposed on lenders), which were the tangible policy responses to the asset price innovations at the time.
The first bone fide example of asset prices directly – rather than indirectly – determining the setting of rates in this country was the RBA’s much more rapid than expected normalisation of the cash rate over 2009 and 2010, which I pointed out to Rollins (see <a href="https://www.businessspectator.com.au/bs.nsf/Article/Central-banking-esoterica-pd20100317-3LT6P?OpenDocument&amp;src=mp&amp;is=Property" target="_blank">here</a> and <a href="https://christopherjoye.blogspot.com/2010/09/should-we-expand-rbas-mandate" target="_blank">here</a> for more matter). By this juncture, the RBA had the experience of 2003 and Greenspan’s purported mistakes prior to the GFC behind it.
Within the RBA, those who advocate a more interventionist approach to influencing asset markets felt vindicated by these events. This cohort included Glenn Stevens, Phil Lowe, Tony Richards and Christopher Kent, among others. The weight of evidence (and logic), they claimed, was inexorably falling behind the “lean against the wind” school of thought – subject to the caveat that this was, of course, but a “policy of least regret”, whatever that means.
On the other side of the Australian debate stood the likes of myself, Dr <a href="https://cis.org.au/publications/policy-monographs/article/906-bubble-poppers-monetary-policy-and-the-myth-of-bubbles-in-asset-prices" target="_blank">Stephen Kirchner</a> of the Centre for Independent Studies, Dr Guy Debelle at the RBA  (see <a href="https://www.businessspectator.com.au/bs.nsf/Article/Twisting-in-the-wind-pd20090522-SA6PF?opendocument&amp;src=rss" target="_blank">his speech</a> to the Brazilian central bank) and Dr David Gruen at Treasury (see <a href="https://www.businessspectator.com.au/bs.nsf/Article/David-Gruen-spikes-the-bubble-poppers-pd20090618-T53KJ?opendocument&amp;src=rss" target="_blank">here</a>).
The alternative argument was that truly damaging asset price bubbles are hard to identify, that the interest rate changes required to resist one could exact tremendous collateral costs across the wider economy, that a “multiple objective” central bank is more likely to lose focus on its core price stability task, and thus make policy mistakes, and, finally, that there are superior “macro-prudential” tools available to regulators to more surgically cauterise such problems.
An illustration of the latter would be changes to the risk-weights and capital charges that APRA requires banks to hold against commercial and residential property loans. Other examples would be defining minimum equity (i.e., deposit) requirements for new lending (or maximum loan-to-value ratios), minimum debt-servicing standards, and/or the removal of external subsidies, such as the first-home owner’s grant, that distort the market’s functions.
After privately debating this with the likes of Tony Richards at the RBA and watching the central bank in action during 2009 and 2010, I evolved my own view, as I have explained elsewhere.
In short, I could see that a disciplined central bank could, at the margin, tilt the rate at which it adjusted policy in concert with activist jawboning (recall Glenn Stevens’ interview with David Koch reminding folks that property is not a “one-way bet”) to assist in helping the market recalibrate expectations of future capital growth, which, most sensible people acknowledge, can become inflated by decision-making biases inherent in humans.
 
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At the same time, I’ve cautioned that there remain significant risks associated with modifying the conduct of policy in this manner. The RBA has a proven policy regime that has the support of both sides of politics and has been formally documented in agreements between itself and the government.
More pointedly, I’ve argued that it is not up to a non-democratically elected RBA to unilaterally decide that it is going to fundamentally change its mandate, and rationalise this change (as some were prone to doing) by reference to extreme ambiguities in legislation enacted more than 50 years ago.
I encouraged a reluctant RBA to seek explicit support for these new measures from the government and to have this support formally documented in the “statement” executed every few years between the treasurer and the governor. I believe that the 2010 statement accommodates this aim via the insertion of large swathes of new text covering the RBA’s “financial stability” responsibilities and <a href="https://christopherjoye.blogspot.com/2010/10/rba-expands-its-policy-mandate-as-i" target="_blank">by agreeing that RBA instruments can be used to meet these goals</a>.
So today the RBA seems to have more of a mandate to pursue these aspirations. The main risk is that this complicates the challenges policymakers face and boosts the probability of a significant decision-making error. And all central banks, including the RBA, are prone to making mistakes.
RBA officials admit that they lifted interest rates too high in the late 1980s, which gave us “the recession we had to have” and 17% mortgage rates by January 1990. They <a href="https://www.businessspectator.com.au/bs.nsf/Article/Can-the-RBA-target-asset-prices-pd20091215-YQRMP!OpenDocument&amp;Src=rss&amp;Click=" target="_blank">similarly concede</a> that they reduced them too slowly in the years immediately following (the average mortgage rate between 1990 and 1992 was still a stunningly high 13.7%).
RBA officials also accept that they made nontrivial policy missteps in 2006 and 2007 that allowed core inflation in Australia to surge towards an unacceptably high 5% by mid-2008.
The concern here is that a future governor over-tightens policy in response to benign asset price appreciation and sends our interest rate-sensitive economy careening into recession. This could in turn mortally undermine the RBA’s hard-won constituency with the wider community, and its very fragile political independence.
Only time will tell whether we eventually conclude that the hazards associated with using the blunt interest rate instrument to lean against complex asset price changes are too high for policymakers to tolerate.
Christopher Joye is a leading financial economist and a director of Rismark International and Yellow Brick Road Funds Management. The above article is not investment advice.
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Significant risks when RBA attempts to burst any housing price bubble: Christopher Joye

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For many Australians, a holiday house by the beach is the holy grail of property ownership. Particularly this time of year, as the sun shines, each Friday droves of city folk head for a coastal escape.
For many people, the decision to purchase a holiday home is more about investing in their quality of life. The best advice for anyone considering a holiday home purchase is to ensure that you can afford to hold onto it long term.
If you do not correctly anticipate the costs associated with a holiday home, you might find yourself in a situation where you’re being forced to sell up.
Forced sales often result in the property selling for less than the vendor wants and less than what the property is worth.
Another important point to note is that coastal towns generally experience large peaks and troughs in prices. They spring up in summer when everyone is holidaying, and they come down in winter when people are hibernating.
During winter you’re less likely to experience inflated sales figures. Consequently, winter is generally a better time to buy.
If you do decide to put in an offer over summer be savvy with terms, ask for a longer settlement, perhaps a 5% deposit and access prior to settlement if you need to measure up or find tenants.
Good purchasing opportunities may also arise when there is global financial uncertainly, as this often produces fire sales. This opens up the market for people to secure themselves a quality property at a good price.
Some people choose to purchase a property, lease it out on a fixed tenancy then lease another property close by for a lesser price than their mortgage repayments.
As a result they can maintain their mortgage and still have the benefits of a holiday home in a coastal area.
It can be very rewarding owning a beach house but remember that it too will require maintenance and upkeep, if your property falls into disrepair in between seasons it will lose value and rental appeal.
Lauren Staley is director of <a target="_blank" href="https://www.infolio.com.au/">Infolio</a>, a buyers’ advocacy and property management company.
For more advice on buying your first investment property, download our free e-book.
 
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How to get the most out of a holiday home investment

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Office and industrial property values are expected to increase in the first quarter of 2012, but further declines are forecast for the already struggling retail and tourism property sectors, the latest Property Council of Australia (PCA)-ANZ Property Industry Confidence Survey has revealed. 
“Weak retail and tourism industry conditions are expected to negatively impact capital growth in these sectors, with the balance of property industry respondents across Australia expecting prices to decrease in March quarter 2012 in both tourism and retail property,” the report says.
The divergence in expectations across sectors and markets is attributed to “varying domestic economic performance across industries and states/territories and the respective property market fundamentals”.
Growth expectations are strongest for office and industrial property in WA, Queensland and the Northern Territory.
<img src="/images/stories/commercialgrowth.gif">
Source: PCA-ANZ
Across the commercial sector, capital growth expectations are more optimistic for WA than in any other state. 
“Positive expectations for the Queensland office and industrial property sectors are welcome after the Queensland economy endured a tough 2011,” the report says. 
The capital growth outlook is negative across all commercial property sectors in South Australia, Tasmania and ACT. 
Despite the mixed outlook, ANZ believes the commercial property market is in “the early stages of a multi-year cyclical upswing, with rents set to rise and yields to compress”. 
“The office and industrial markets are particularly well placed with tight vacancies, limited capacity expansion and attractive yields expected to support growing investor interest and a marked increase in valuations as rents rise and yields compress.
“However, considerable uncertainties in Europe, the Middle East, the US and China threaten economic and financial market stability and will continue to weigh on investor sentiment and property yields through 2012.
“Consumer restraint, reduced workspace ratios, employer caution and potential job shedding, all present significant risks to commercial property demand.”
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