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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Less than a month remains for Queenslanders to take advantage of the state government’s $10,000 handout for those buying or building a new home.
Home buyers and investors wanting to take advantage of the incentive need to have entered into a contract to purchase or build a new home by January 31 – although they have until May 31 to submit their application to the Queensland Office of State Revenue.
The Building Boost was launched by the Queensland government on August 1 with the aim of the “igniting” new home construction in the state following the January 2010 floods but has to date failed to generate much momentum, with less than 10% of the $140 million allocated to the scheme taken up by buyers.
At the start of December, Stockland CEO Matthew Quinn highlighted the poor take-up of the grant, with just 1,200 applications lodged, equating to $12 million in handouts.
However, Stockland Residential CEO Mark Hunter says the Building Boost is driving enquiries “if you have right product”. The boost helped push up new home sales by 16% in the first two months of the scheme (August and September), albeit off a low base.
Stockland has heavily promoted the Building Boost in its new community developments in <state><place>Queensland</place></state> and has been lobbying the government to extend the scheme beyond January 31.
A spokesperson for the company told Property Observer: “Queenslanders needed this boost and they need it extended. It is getting people into homes faster and creating construction jobs across the state. We’ve responded with some great offers like those at <place><placename>North</placename><placetype>Lakes</placetype></place>, where house-and-land packages are starting at just $268,000.
“Like many others in the industry, we’re urging the Queensland Treasurer to consider an extension beyond January 31.”
However with no indication that the scheme will be extended, Master Builders Australia is urging buyers to act soon to take advantage of the $10,00o incentive.
“To get to a stage where a firm price contract can be prepared, there is a lot that has to happen, and this process can take a number of weeks,” says Master Builders executive director Graham Cuthbert.
Cuthbert says home buyers should have been talking to builders before Christmas.
“To date, the boost has not had a significant impact on the building industry and, while there are several issues at play, we believe many people are leaving things to the new year, with the mistaken belief that starting the process early in January will give them time to get a contract signed by the deadline,” he says.
“Consumer confidence is certainly another issue that is impacting the number of applications for the boost, and we have recently learnt of an emerging problem that is seeing low valuations causing some new home contracts to crash,” he says.
According to official ABS figures for October, the sunshine state recorded a 19.5% drop in building approvals for the month, leading a 10.7% nationwide slump.
The state recorded a strong improvement in building approvals in the first month of scheme with the total number of dwelling unit approvals rising from 1,900 in July to more than 2,800 in August. However these numbers slumped to just under 2,300 in September and to just over 1,800 in October due to a combination of high interest rates and poor consumer confidence.
Putting those figures into perspective, dwelling finance approvals just for first-home buyers in <state><place>Queensland</place></state> reached their peak of 4,000 in March 2009 following the introduction of the far more successful First Home Owners Boost in October 2008.
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Less than a month remains for Queensland's underused Building Boost scheme

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A luxury penthouse at Lumiere Residences in the Sydney CBD has been sold for $8.1 million in a sign of continued interest from Asian investors in top-end residential Australian property. 
<img src="/images/stories/lumiere1.jpg">
The 54th-floor apartment, developed by Frasers Property <country-region>Australia</country-region>, was sold by Savills <country-region>Australia</country-region> in conjunction with Savills <country-region><place>Thailand</place></country-region>. 
Set opposite St Andrew's Cathedral, the <a target="_blank" href="https://lumieresydney.com.au/lumiere/html3/home/home/index">Lumiere Residences building</a> was designed by Australian architects PTW in collaboration with international award-winning British architect Lord Norman Foster of Foster + Partners. 
Shayne Harris, Savills <country-region><place>Australia</place></country-region> head of residential, says the sky penthouse was purchased by a wealthy Asian investor. 
“This is a significant sale for <city><place>Sydney</place></city>’s CBD market, secured at approximately $27,000 per square metre,” Harris says. 
“It highlights that Asian investors continue to actively seek opportunities to acquire premium properties at the top end of <country-region><place>Australia</place></country-region>’s residential market. 
“They are attracted to the very best properties in the best locations, and the world-class Lumiere development in the Sydney CBD certainly meets these requirements.” 
Located in <city><place>Sydney</place></city>’s mid-town precinct at <street><address>101 Bathurst Street</address></street>, Lumiere is a multi-award-winning development based on a vertical village design that encompasses retail, commercial offices, the luxurious Fraser Suites Sydney apartment hotel and Lumiere Residences. 
It’s been marketed as “<place><country-region>Australia</country-region></place>’s first vertical village”.
<img src="/images/stories/lumiere2.jpg" style="border-style: initial; border-color: initial;">
“"Residents will have everything there that they can find in a horizontal village like Paddington,” the developer Dr Stanley Quek advised during 2006 off-the-plan marketing.
Frasers Property is now undertaking the construction and marketing of the Central Park eco-friendly project on a 5.8-hectare former brewery site at the southern end of the city.
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Luxury Lumiere Residences Sydney CBD penthouse fetches $8.1 million through Savills Australia/Thailand

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In spite of the battering that the residential market has taken of late, many Australians still aspire to own investment property. 
When considering whether to buy new versus older property, price is only ever part of the equation. 
And buying a new dwelling has numerous benefits over buying a second-hand property. 
One important benefit that new homes offer investors is great capital depreciation, with up to 60% of the built cost being tax-deductible over time. 
When considering a brand-new investment property, and in particular, when deciding to build or purchase off the plan, it is wise to obtain advice from a depreciation specialist as early in the planning stages as possible. 
That way, an investor will be aware of the best choices to make in order to maximise depreciation benefits. 
For example, when a property is being built, the selection of fittings and fixtures will determine their dollar value in terms of depreciation deductions. 
And this, in turn, will make a difference to the cash flow potential of a new investment property. 
Let’s look at floor coverings by way of an example – carpet versus timber floorboards versus tiles.   For depreciation purposes, each of these is deemed to have an effective life.  Carpet – 10 years; timber floorboards – 15 years; and tiles – 40 years. 
A $2,000 outlay on floor coverings, for example, would result in the following depreciation benefits in the first year:  Carpet – $400; timber floorboards – $267; and tiles – $50. 
Similarly, for a $2,000 expenditure on lighting, ornamental lights with a five-year effective life would incur an $800 depreciation benefit in the first year, versus down lights with a 40-year effective life and a $50 depreciation benefit in the first year. 
And naturally, depreciation benefits continue in subsequent years until all amounts are exhausted. 
Armed with this sort of knowledge, an investor might find it financially viable to upgrade a level of finish from, say, low to medium or medium to high. 
But it takes an expert in the field to keep up with the machinations and new methodologies of the ATO, and to structure depreciation schedules that will maximise benefits for owners. 
These days, for example, renovating is on the rise.  And what some new or would-be investors may not know is that they can claim deductions for an old property that is scrapped. 
When building a new investment property and tearing down an old home, items that are scrapped or removed, such as carpet, air-conditioning units, stoves, etc, may have left over value that can be claimed as a tax deduction in the year of removal. 
The same applies to the qualifying structural element of the property.  But the important thing is to obtain a tax depreciation report pre-demolition, in order to be eligible for any savings at tax time. 
Depreciation is basically a numbers game, but with a twist.  Broadly speaking, most of a building is claimed at 2.5% per year for 40 years, however, up to 25% of the total construction cost can be written off more quickly. 
Good luck with that investment.
Michael Matusik is the director of independent property advisory Matusik Property Insights. Matusik has helped over 500 new residential developments come to fruition and writes the weekly  <a href="https://matusikmissive.wordpress.com/" target="_blank" title="Matusik's Missive">Matusik's Missive</a>.
For more advice on investing off the plan, <a href="http://propertyobserver.com.au/ebooks/free-ebook-10-tips-for-investing-off-the-plan" target="_blank">download our free eBook.</a>
 
 
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New property has significant advantages for investors

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Property developer Stockland has continued last year’s trend of developers offering incentives to entice new home buyers. 
The developer is also tapping into concerns over the impact of the carbon tax on energy bills in 2012 by offering buyers of land and selected house-and-land packages a $6,000 Visa Energy Card to help pay their energy bills for up to three years. 
The “Power to Move” campaign runs from January 7 to February 19. The eight NSW Stockland residential communities participating in the offer are Waterside at <placename>Penrith</placename><placetype>Lakes</placetype>; Glenmore Ridge in Western Sydney; Darcy’s Peak and McKeachie’s Run in the Maitland and Hunter region; <placename>Murrays</placename><placetype>Beach</placetype> in <placetype>Lake</placetype><placename>Macquarie</placename>; McCauley’s Beach and the newly launched Brooks Reach in the Illawarra and Bayswood on the <place><placename>NSW</placename><placename>South</placename><placetype>Coast</placetype></place>. 
Last year developers attempted to entice new buyers with <a href="https://www.propertyobserver.com.au/land/buying-a-house-and-land-package-10-key-dates-to-keep-in-mind/2011112352508" target="_blank">offers of furniture vouchers, free luxury carpets and appliances and discounted lots</a> to name just a few. 
<a target="_blank" href="https://www.propertyobserver.com.au/residential/home-building-still-in-the-doldrums-but-renos-picking-up-abs/2011112352503">Master Builders Australia</a> is pleading for government intervention to kick-start new home building, as new home sales numbers dwindle.
Matthew Mears, Stockland’s general manager for residential development in NSW, says the offer recognises the burden of the household energy bill. 
“The great thing is that buyers into our residential communities will benefit with Stockland paying their energy bills for up to three years. With a sensible approach to energy consumption, the opportunity exists to stretch that bonus even further,” he says. 
In addition to the $6,000 bonus, buyers will also receive bonus energy-efficient builder upgrades including solar or gas hot water, an energy-saving dishwasher and energy-efficient lighting that will help reduce energy bills further. 
Stockland is also promoting the idea that buying a new home is more cost-efficient than owning an older established home. 
Stockland compared the living costs of a three-bedroom and a four-bedroom home built in 2011 with houses of the same configurations built in 1981. 
It found new homes generated more cost savings from reduced heating and cooling costs, etter use of natural light and savings from built-in energy-efficient appliances. 
According to Stockland research, running a newly built four-bedroom, two-bathroom home with a two-car garage versus a comparable house 30 years older results in a savings of $2,197 in New South Wales, $1,749 in Western Australia and $1,574 in Victoria. 
“The figures show that across the country, new homes clearly offer lower ongoing running costs, when compared to homes from 30 years ago,” says Ben Allen, general manager of sustainable communities for Stockland.
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Stockland seeking to power up new home market by paying buyers' energy bills

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<city><place>Melbourne</place></city> inner-city apartments priced under $750,000 are forecast to be the city’s best-performing asset class in 2012, according to CBRE.
“Well-located properties with good access to public transport and amenities continue to be the most resilient in the current conditions. Properties in the sub-$750,000 price bracket continue to perform well with demand levels remaining quite resilient,” says CBRE director of residential valuations Jarrod Frazer.
According to realestate.com.au, there are about 1,600 inner-city apartments for sale under $750,000.
Among the new inner-city developments, Lend Lease is selling one-bedroom apartments for about $465,000 in its <a href="https://www.propertyobserver.com.au/developments/lend-lease-sells-over-100-units-in-convesso-concavo-docklands-development-in-a-month/2011120552677" target="_blank">Convesso Concavo project in Docklands</a> while two-bedroom apartments in Pan Urban’s Lacrosse project (also in Docklands) are priced around the $530,000 mark.
For advice on investing off the plan, <a href="http://propertyobserver.com.au/ebooks/free-ebook-10-tips-for-investing-off-the-plan" target="_blank">download our free eBook</a>.
Outside of the CBD, the unit market is expected to continue to perform in line with the overall subdued <city><place>Melbourne</place></city> residential market.
<img src="/images/stories/cbrejan5.gif">
In its November update, RP Data-Rismark calculated that <city><place>Melbourne</place></city> unit prices increased 3.1% in November to help ease an overall decline during which unit prices fell 3.3% over the past 12 months.
In comparison <city><place>Melbourne</place></city> house prices continued to slide, falling by 0.4% in November to be down 6.3% year on year.
Even if prices don’t appreciate in 2012, Melbourne investors can still expect some level of return in the form of rising rents due to a low overall vacancy rate of just 2.2% (well below market equilibrium of 3%), with rental yields hovering around 4.5%.
“Residential vacancy rates, although increasing slightly, are still relatively low at 2.2%.  This has driven rental growth with yields for investors continuing to see some upward pressure,” says CBRE.
According to RP Data-Rismark, <city><place>Melbourne</place></city> units are returning median yields of 4.3% while houses are returning 3.7% – the lowest across all capital cities.
Reilly says a prolonged period of low vacancy could result in renewed interest from investors as upward pressure is placed on rents.
“The market remains soft across all sectors, with the current low levels of demand ensuring negotiating strength is clearly in favour of buyers.  As has been the case recently, strong selling features are crucial to completing sales, with proximity to public transport, schools and employment very important.  Properties that lack these key features are seeing selling times extended,” he says.
Investors might need to venture outside of <city>Melbourne</city> into country <state><place>Victoria</place></state> for better investment prospects.
According to Residex, country <state><place>Victoria</place></state> unit values recorded increases of 3.5% over the 12 months to the September quarter 2011 to reach a median of $260,000.
The average rent for units also increased by 15.2% over the year, which drove strong yield growth to 5.3% and a median asking rent $265 per week for rural and regional <state><place>Victoria</place></state> property.
Overall though CBRE global research and consulting manager Sam Reilly expects residential market conditions in <state><place>Victoria</place></state> to remain subdued in the short term until a sustained period of economic stability and improved buyer confidence returns.
“The level of available stock remains low as vendors avoid taking properties to market where possible. While demand has eased the lack of quality stock entering the market is also affecting sales volume,” he says.
According to CBRE, the prestige sector is under most pressure at present, with longer selling periods and adjusted prices now becoming evident in most areas with prestige real estate valued at more than $2 million.  In order to make a sale, vendors must meet the market.
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Inner-Melbourne units under $750,000 best prospects for investors: CBRE

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Steven Sewell, the current CEO of Charter Hall Retail REIT, has been handed the responsibility of guiding the restructured Centro Group – now known as Central Retail Australia – in 2012.
Sewell will replace incumbent chief executive Robert Tsenin on April 2 (or possibly earlier subject to agreement) after Tsenin announced last year that he would retire following the restructure.
Sewell will take the job with some experience of the Centro culture and management already under his belt. Earlier this month Sewell oversaw Charter Hall Retail’s $32.5 million purchase of Centro’s Kangaroo Flat shopping centre in <city><place>Bendigo</place></city>.
Sewell says he is excited at the prospect of guiding Centro through the next stage of its evolution and is “looking forward to capitalising on the opportunities that existed in the extensive portfolio of well-located shopping centres”.
He will manage a REIT comprising 99 shopping centres, with Woolworths and K-Mart the biggest tenants.
“Centro has an impressive portfolio of assets, diversified across <country-region><place>Australia</place></country-region>, with excellent opportunities for income and capital growth.  I look forward to working with the team to convert these opportunities and grow the company for the benefit of all stakeholders,” Sewell says.
Tsenin will leave the company with a great deal of satisfaction having steered it through a highly complex restructure that staved off the threat of administration.
<a target="_blank" href="/news">Centro Retail Australia officially started trading on the ASX on December 5</a> at a share price of $1.70 and a market capitalisation of $2.3 billion.
At close of trading on Wednesday, the stock was trading at $1.85, up 3¢ on the day.
Centro received the green light to commence trading following a four-year battle to find a way out of financing problems dating back to the GFC after <a href="https://www.propertyobserver.com.au/industry-news/centro-restructure-gets-final-nod-of-approval/2011120252651" target="_blank">former auditor PricewaterhouseCoopers decided not to appeal a NSW Supreme Court decision </a>in favour of the restructuring plan.
This followed major shareholders and bond holders agreeing to the restructuring of the company and the formation of the new retail fund on November 22, guaranteeing them a payout of about 5¢ per share.
As part of the restructure, the $2.7 billion owed to Centro’s senior lenders that was due to be paid by December 15 will be cancelled in exchange for substantially all of Centro’s Australian assets and interests being transferred to these lenders.
 
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Charter Hall Retail boss to lead restructured Centro

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The secret to renovating for profit is in selecting the right property, conducting thorough research and having a good plan. 
It is important that the type of renovation projects you attempt is in line with your level of knowledge, skills and tradespeople contacts. 
There are literally hundreds of improvements, big and small, that you could do to increase the value of their property. 
By using some common sense I believe most people can handle a basic rejuvenation without too many dramas. 
The trick is to add more value than the actual cost of the improvements. 
This is my seven-step plan to renovate properties for profit: 
Step 1: Understand the renovation profit formula 
In simple terms the renovation formula is: Your renovation profits margin equals the renovated value of the property minus the purchase price and total renovation costs.
Once you understand the theory you’ll see where the profits lie. The formula is like the filter through which you view a property. 
Step 2: Work out how much you can afford
 
You need to have enough saved to cover the three major costs of renovating: the cost of buying the property, the cost of renovating the property and the selling costs or the ongoing costs to hold the property. 
Step 3: Target the right type of property 
Match your risk profile to the right type of property. Before buying a property to renovate it is important to consider your risk profile carefully, including how comfortable you are with the possibility of losing money, or that the return on investment may not be as high as you had hoped for. If you’re new to property investing and/or you’ve never renovated a property before, I recommend you cut your teeth on a simple project. Start off with an apartment – it’s better to start small to minimise your risks. 
Step 4: Market research and preparation
 
This involves identifying suburbs with the greatest profit potential, researching property values, brushing up on design and decorating, and selecting a team of quality tradespeople. 
Step 5: Select the right property type
Look for a property with the maximum profit potential. Your first consideration here should be the condition of the property. Search for something rundown, but not totally derelict. 
Step 6: Pay the right price 
Work out the maximum you can afford to pay and still make a healthy profit. One of the fundamentals of renovating for profit is that you buy well. I always begin with the end in mind, by that I mean I work out what the post-renovated value will be, the costs to get it in that state, calculate the holding costs, decide on the amount of profit I want to make then I know my maximum purchase price. 
Step 7: Get the work done on time and within your  budget 
Avoid profit-shrinking cost overruns and delays. Make sure you use a spread sheet to
schedule the works. You need to ensure all the tradespeople do their work in the right sequence. Always add a buffer of a day or so around each tradesperson. This gives you wiggle room if there are delays.
Patrick Bright is a real estate author and founder of Sydney-based buyer’s agency <a href="https://%20www.epspropertysearch.com.au" target="_blank">EPS Property Search</a>. Bright has purchased over $500 million worth of real estate for clients. His best-selling titles include The Insider’s Guide to Buying Real Estate, The Insider’s Guide to Saving Thousands at Auction and The Insider’s Guide to Profitable Property Investing. 
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The seven-step plan for renovating in the new year

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Investigations into allegations that wealthy investors were duped into buying multimillion-dollar properties on Mermaid Beach on the Gold Coast as part of an elaborate price-fixing scam are continuing.
The Queensland Office of Fair Trading has confirmed to Property Observer that it is continuing to investigate such allegations.
The inquiry dates back to May 2010 when then Queensland Minister for Fair Trading Peter Lawlor and current Labor member for Southport brought allegations of investment scam to the attention of the Queensland Police.
At the time Lawler came to the conclusion that the transactions “stink to high heaven”.
“There's a fictitious component in the transactions. It makes you wonder what went on with all of those [Mermaid Beach beachfront] properties.
“The values in that area went crazy over a short period of time. There was almost a stock market-like frenzy about it as people were getting in and out and making a couple of million dollars at a time the agents were also receiving very big commissions,” Lawler said at the time.
Real estate agent Rod Lambert made the allegations in late May 2010.
Lambert, who personally lost millions on a redevelopment of flats on Albatross Avenue, claims prices in Mermaid Beach had been inflated by “a handful of sophisticated investors using an elaborate scheme involving ‘put and call options’” – a legal way of buying a house then reselling it before settlement.
In the case of Mermaid Beach transactions it is alleged that the scheme was used to inflate prices with the money for the higher-priced second sale never changing hands, but the higher sales price recorded in the official property records.
Lambert claims that property valuers were misled about the worth of Mermaid Beach properties because official sale contracts and registry data contained fictitious information about previous sales prices achieved.
<a href="https://www.propertyobserver.com.au/residential/the-8-biggest-losses-on-mermaid-beach-s-millionaire-s-row-show-no-post-gfc-recovery-in-sight/2011113052610" target="_blank">Owners who bought properties on Mermaid Beach before the GFC continue to sell their investments at massive losses</a>.
Recent falls have included <a href="https://www.propertyobserver.com.au/queensland/summer-beach-spotlight-rowen-craigie-s-mermaid-beach-misgamble/2012010252949" target="_blank">a three-bedroom Hedges Avenue beachfront cottage that sold post-auction in late December</a> at a discount of about 46% on its 2008 purchase price and another property also on Hedges Avenue selling at a loss of close to $10 million.
In an earlier version of this article, Property Observer incorrectly reported that Queensland Police and Australian Crime Commission were jointly investigating property scams on Mermaid Beach.
There is a joint operation which resulted in the disruption of a serious and organised investment scam run by a company known as West Trade or Atlas Lead Generation, based on the Gold Coast.
This investment scam is entirely separate from the Mermaid Beach property scam.
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Investigation into alleged price fixing on Mermaid Beach to continue in 2012

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Investors and cashed-up first-home buyers are set to push up <city>Sydney</city> and <city><place>Perth</place></city> property values by up to 5% in 2012, Raine &amp; Horne CEO Angus Raine has forecast.
According to Raine, price rather than the traditional real estate mantra of “location, location, location” will drive the buying decisions of investors and owner-occupiers over the course of the year.
“In <city><place>Sydney</place></city>, the market between $400,000 and $650,000 will continue to show positive signs in 2012, with investors re-entering the market, replacing the expected shortfall of first-home buyers due to the end of the stamp duty concessions on existing homes,” Raine says.
“It’s a misnomer that real estate investing is only about location, location, location.
“Price, price, price will drive the buying decisions of those owner-occupiers and investors considering homes in <city><place>Sydney</place></city> below $650,000 next year.
“As such, it’s also fair to expect that traditional apartment markets, where investors compete with first-home buyers, such as Eastwood, Ashfield/Burwood, Hurstville and Dee Why, will show plenty of form in 2012,” he says.
He also predicts investment activity in inner-ring suburbs such as Bondi, <city>Newtown</city> and <place><placename>Neutral</placename><placetype>Bay</placetype></place>, with sales volumes expected to increase markedly from the second quarter of 2012 onwards.
In 2011, regional locations outperformed the capital city market <a href="https://www.propertyobserver.com.au/residential/sydney-and-canberra-best-for-investors-in-2011-rp-data-rismark/2012010252951">(according to RP Data- Rismark)</a>, with prices falls of 2.5% compared with big-city falls of 3.5%
Raine expects “regional centres with decent facilities for green- and sea-changers” will enjoy some capital growth.
“Baby boomers will look to regional centres that not only have excellent health and lifestyle facilities, but also to towns such as Tamworth, Orange and Port Macquarie, which have airports that make it easier for friends and families to visit,” he says.
Sean Green, operations manager at Raine &amp; Horne, expects <city><place>Brisbane</place></city> house prices to stabilise in 2012 with some parts of the market already showing signs of recovery on the back of the interest rate cuts in November and December.
“It’s fair to say that 2012 will be the first time in a number of years that Brisbane real estate values won’t fall,” says Green.
Green says investors have their sights focused on inner-ring suburbs such as <city><place>Fairfield</place></city> and New Farm.
According to the Raine &amp; Horne New Farm office, 20 groups inspected a refurbished three-bedroom apartment at <street><address>5/84 Moreton Street</address></street>, New Farm in early December on the market for $399,000 and with rental expectations of $400 per week.
Outside <city><place>Brisbane</place></city>, Green nominates the Noosa hinterland as a potential growth star in 2012.
“The Noosa hinterland is about 26 kilometres from the Maroochydore airport, which is an important consideration for baby boomers.”
In <city>Perth</city>, Raine &amp; Horne is predicting 5% growth for <city><place>Perth</place></city> suburbs such as Cannington, which has relatively easy access to Curtin University of Technology and the Kwinana Freeway, as well as affordable Kenwick and Kelmscott in the south east.
“We also expect to see more investors in the <place>North Perth</place> market in 2012,” says Green.
“A recently renovated two-bedroom home unit at 
<address>
<street>10/6-8 York Street</street><city>Inglewood</city>
</address>, which is listed with Raine &amp; Horne North Perth, attracted strong investor attention in December.”
Over the last few weeks of 2011, there were more than 40 enquiries about the <street><address>York Street</address></street> apartment, with about 60% of enquiries from investors seeking healthy rental returns, according to Green.
“It’s a completely renovated apartment in a traditional 1970s red-brick block, which is on the market for $349,000 and is expected to generate a weekly rent around $350,” he adds.
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Perth and Sydney prices to rise 5% in 2012: Angus Raine

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The takeover of the Charter Hall Office REIT by a consortium of international and local institutional investors is one step closer after the trust’s management entered into a “binding scheme implementation agreement” with the prospective new owners.
The independent directors’ committee that manages the trust has unanimously recommended that shareholders accept the offer and will vote in favour of the scheme at a shareholders’ meeting scheduled for March 15.
Charter Hall Office Management independent chairman Roger Davis says the offer represents “the most compelling and certain value proposition” to shareholders.
Should 75% of shareholders vote in favour of the takeover, the REIT will be sold to the consortium on March 30, subject to terms and conditions, including the completion of the sale of its <country-region><place>US</place></country-region> portfolio.
Shareholders will also be entitled to proceeds from the sales of the remaining<country-region><place>US</place></country-region> assets held by the fund that occur after January 1. The trust has been offloading its <country-region>US</country-region> portfolio of office properties since August 2011, with a building in <place><city>Tampa</city>, <state>Florida</state></place> selling before the Christmas break.
The consortium, made up the Government of Singapore Investment Corporation, Canada’s Public Sector Pension Investment Board and the trust’s head stock Charter Hall, has been seeking to acquire the REIT since the end of August last year following <a target="_blank" href="https://www.propertyobserver.com.au/news/proxy-votes-in-charter-hall-office-reit-battle-line-up-to-reject-takeover-proposal/2011072750930">a failed attempt by a group of hedge fund investors to wrestle management control</a> a month earlier.
The consortium made its first offer of $2.39 a share on August 29, sweetening the deal to $2.43 in October before raising it again to the current offer price of $2.49 per share.
The offer is a 4.2% discount to the estimated pro forma net tangible asset value of the Australian office portfolio of $2.60 per share.
The portfolio has been externally valued at $1.84 billion with <street><address>2 Park Street</address></street> in the Sydney CBD, the most expensive property, valued at $370 million.
Other notable assets include <street><address>2 Martin Place</address></street> (valued at $232 million), <street><address>150 Lonsdale Street</address></street> in <city>Melbourne</city> ($150 million) and <street><address>175 Eagle Street</address></street> in <place><city>Brisbane</city></place>($115 million).
In its 2011 A-REIT Survey, accountanting firm BDO ranked the Charter Hall Office REIT its top performer of the year managing a total unit-holder return of 43%, the highest return of any of the S&amp;P/ASX 200 Property Index members.
“Consistent with the strong performance exhibited by the office sub-sector through the year, the A-REIT delivered increased earnings, higher distributions, lower debt and strong portfolio management metrics,” noted BDO.
“Units in Charter Hall Office REIT (CQO) also demonstrated a high level of liquidity, with CQO being one of the most actively traded REITs on the ASX during the 2011 financial year.”
Among the key achievements noted by BDO include Charter Hall Office REIT increasing in statutory earnings to $69.2 million, up from a loss of $91 million in 2010 financial year, reducing look-through gearing from 45% to 43% and repaying, refinancing or removed all debt due to mature before the 2014 financial year.
At 3pm on Tuesday, January 3 shares in the REIT were up 0.71% for the day to $3.535 against a benchmark index rise of 1.14%.
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