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

<html><body>
 
<table width="426" cellpadding="0" cellspacing="0" border="1"><tbody>
<tr>
<td valign="bottom" nowrap width="69">
Postcode
</td>
<td valign="bottom" nowrap width="151">
Suburb
</td>
<td valign="bottom" nowrap width="206">
Average discount on vendor’s asking price for house sales
</td>
</tr>
<tr>
<td valign="bottom" nowrap width="69">
4068
</td>
<td valign="bottom" nowrap width="151">
CHELMER
</td>
<td valign="bottom" nowrap width="206">
23.5%
</td>
</tr>
<tr>
<td valign="bottom" nowrap width="69">
4106
</td>
<td valign="bottom" nowrap width="151">
ROCKLEA
</td>
<td valign="bottom" nowrap width="206">
23%
</td>
</tr>
<tr>
<td valign="bottom" nowrap width="69">
4184
</td>
<td valign="bottom" nowrap width="151">
RUSSELL ISLAND
</td>
<td valign="bottom" nowrap width="206">
22.6%
</td>
</tr>
<tr>
<td valign="bottom" nowrap width="69">
4184
</td>
<td valign="bottom" nowrap width="151">
COOCHIEMUDLO ISLAND
</td>
<td valign="bottom" nowrap width="206">
22.5%
</td>
</tr>
<tr>
<td valign="bottom" nowrap width="69">
4183
</td>
<td valign="bottom" nowrap width="151">
POINT LOOKOUT
</td>
<td valign="bottom" nowrap width="206">
22.2%
</td>
</tr>
<tr>
<td valign="bottom" nowrap width="69">
4006
</td>
<td valign="bottom" nowrap width="151">
NEWSTEAD
</td>
<td valign="bottom" nowrap width="206">
19.7%
</td>
</tr>
<tr>
<td valign="bottom" nowrap width="69">
4184
</td>
<td valign="bottom" nowrap width="151">
MACLEAY ISLAND
</td>
<td valign="bottom" nowrap width="206">
19.7%
</td>
</tr>
<tr>
<td valign="bottom" nowrap width="69">
4105
</td>
<td valign="bottom" nowrap width="151">
TENNYSON
</td>
<td valign="bottom" nowrap width="206">
19.5%
</td>
</tr>
<tr>
<td valign="bottom" nowrap width="69">
4169
</td>
<td valign="bottom" nowrap width="151">
KANGAROO POINT
</td>
<td valign="bottom" nowrap width="206">
18.9%
</td>
</tr>
<tr>
<td valign="bottom" nowrap width="69">
4000
</td>
<td valign="bottom" nowrap width="151">
SPRING HILL
</td>
<td valign="bottom" nowrap width="206">
18.7%
</td>
</tr>
</tbody></table>
 
Source: RP Data
 
 
 
</body></html>

cknowlton-QnEa6ntUYP

Top 10 Brisbane suburbs with the highest average discount for house prices: RP Data

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Westpac chief economist Bill Evans has joined the <a href="https://www.propertyobserver.com.au/economy/anz-and-commonwealth-bank-tip-february-rate-cut/2011122052904" target="_blank">Commonwealth Bank and ANZ</a> by forecasting the Reserve Bank will cut the cash rate for the third consecutive time when it next meets on February 7. 
A third rate cut would take the cash rate back to the 4% last seen in March 2010. 
Evans says the minutes of the RBA’s December monetary policy meeting indicate that the key theme “was the concern that sovereign credit and banking problems would weigh heavily on economic activity in Europe, which continued to pose downside risks to the global economy and, consequently, Australia”. 
“There was also further recognition of the mixed outlook for Australia with housing; consumers; and employment all looking subdued. 
“On the other hand business investment, particularly mining, looked robust. With prospects for Europe steadily deteriorating and the interest rate sensitive parts of the economy remaining weak we believe there is ample scope for a further rate cut in February,” Evans says.
In addition to the February rate cut expectation, Westpac is forecasting one more interest rate cut in 2012, in line with its prediction of a 100-basis-point rate cut cycle, which kicked off in November.
Evans made his prediction following publication of the annualised growth rate of the Westpac–Melbourne Institute Leading Index, which indicates the likely pace of economic activity three to nine months into the future. It was 2.6% in October 2011, below its long-term trend of 3%.
“It appears that the boost to above trend growth we saw in July and August has quickly faded and the ‘around trend’ story which has been generally the case since the beginning of 2011 is now appropriate,” says Evans. 
Westpac is forecasting growth in 2012 of 3% – slightly below trend growth for the economy.
 
 
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Westpac tips February rate cut

<html><body>
Listed property trust Growthpoint has spent $290 million on three Brisbane office properties and an office development site on Sydney’s north shore as it builds up the office component of its $1.54 billion portfolio. 
The new Sydney development is located at 219?247 Pacific Highway, Artarmon, within the Gore Hill Technology Park, and was purchased for $82.7 million, providing an initial passing yield of 8.1% on completion. 
Fox Sports will lease 48% of the 14,136 square metres of the net lettable area in a 10-year deal with two renewal options of five years each. 
The building is due to be completed in late 2012 or early 2013 and is targeting a five-star NABERS rating and five green star ratings. It will comprise six upper levels, a lower ground floor and two basement car park levels. 
The Artarmon sale was negotiated by Richard Horne, national director of investment sales at Knight Frank. 
The three other buildings that make up the transaction include two modern office buildings in South Brisbane bought for $96.8 million at an initial passing yield of 8.6% with 11,561 square metres of net lettable area and an A-grade 24-level office building at 333 Ann Street in the Brisbane CBD bought for $109.9 million, providing an initial passing yield of 9.1%. 
South Brisbane tenants include Fusion, Roche and the Queensland government while Anne Street tenants include Runge Limited, Robert Bird Group and Xtract Mining Consultants. 
The Brisbane deals were negotiated by Bruce Baker and Flint Davidson of CBRE. 
The four properties will bring Growthpoint’s portfolio to 40 properties and increase its book value to about $1.54 billion. 
Commenting on the acquisitions, Growthpoint managing director Timothy Collyer says they are consistent with its strategy to “acquire quality modern properties that are well tenanted to enable future growth of the group’s distributable income”. 
“The acquisitions continue our diversification into the Australian office sector,” he says. 
Following these acquisitions, the property portfolio will comprise 47% office property and 53% industrial property. 
Growthpoint’s properties are located in each of the mainland states close to CBD infrastructure such as airports and ports. 
The purchases will be financed via a $166.4 million equity raising, with the balance funded through extended debt facilities.
 
 
 
</body></html>

Growthpoint snaps up new Fox Sports Sydney building in $290 million buying spree 

<html><body>
Over the years I’ve noticed several common traps that renovators fall into. From not conducting enough comparable market research to thinking you have to do all the renovation work yourself in order to make a profit. There are numerous pitfalls that can eat into your bottom line and destroy your confidence. Here are the top six mistakes to avoid.
1.   Not doing enough research
I can’t overemphasise the importance of undertaking comprehensive research because it’s fundamental to each and every step of the renovating for profit process. When you boil it down, every one of the following mistakes can be avoided by doing research.
The vast majority of the effort involved in renovating for profit is research and preparation, but so often I see people rushing in, thinking they know it all, and ending up with a disappointing result. If you don’t take the time to cost your renovation accurately, you could end up with a half-renovated property and no money to finish it. If you don’t do enough comparable market research you could overestimate the value of the property post renovation and get a nasty shock when you go to sell.
Renovating for profit requires time, effort and dedication. The time and effort you put into research will ultimately determine the amount of profit you make.
2.   Paying too much for the property
The purchase price has a direct impact on your profit margin. Every dollar you negotiate the purchase price below your maximum is another dollar of profit for you. However if you set your maximum purchase price too high (because you didn’t do enough research to understand fair market value), or you exceed it (because, for example, you lost self-control bidding at an auction), your profit will suffer.
Purchasing at the right price to ensure you make a profit comes down to knowing market values and negotiating well. All too often I see property investors taking short cuts on the research and market analysis and not bothering to hone their negotiation skills. In the end they pay too much, don’t end up making a profit and don’t maximise the return on their investment. Remember if you’re not experienced at something (for example, tiling) then outsource it!
3.   Not renovating for the target market
If you’re renovating your own home it’s all about pleasing yourself, however when you’re renovating for profit it’s about appealing to the target market, i.e. tenants and buyers. Unfortunately many people get this wrong. They let their “know it all” attitude get in the way and decide what they like is best for everybody.
How many times have you walked into a property for sale and been appalled by the décor? I can assure you it happens to me all the time. Anyone who wants to buy such a property will reduce their offer by the amount they’ll have to pay to have the place redecorated to their taste. So you can see how getting the décor wrong can easily erode a renovator’s profit.
It’s always safer to go for a conservative, neutral but classy décor that’s appropriate to the local market and will appeal to the masses, not the few. If you’re not sure how to achieve that result, get professional advice from an interior designer. I’ve always found this kind of advice a very worthwhile investment.
4.   Over (or under) capitalising
When you’re renovating for profit, adding value is the name of the game. Unfortunately you can’t add unlimited value to a property because there is a limit as to what the market will pay for say a four-bedroom, two-bathroom, double lock-up garage house. Once a home has reached its ceiling price for the accommodation it offers, buyers will not pay more. It doesn’t matter how much Italian marble, state-of-the art electronics and gold-leaf ceilings you put in it.
I know I’m sounding like a broken record here, but it all comes back to your research. When you’re undertaking comparable market analysis you need to establish the ceiling price of fully renovated properties that are similar to the ones you’re targeting. To avoid overcapitalising, prioritise your expenditure on improvements that will add the most value. Be mindful of the price ceiling and resist the temptation to overspend.
It’s also possible to go the other way and under-capitalise on a renovation. This usually happens when you’re trying to save money. For example, you put in a cheaper kitchen with laminate benchtops but the target market prefers a much higher-quality kitchen with CaesarStone benchtops and European branded appliances.
So they lower their offers to take into account the cost of re-doing the kitchen to what it should be for a property of its style, position and character or they dismiss the property from consideration altogether because renovating is too much of a hassle for them. Either way, it’s bad news for you.
If you don’t have the budget to renovate a property to the standard the target market expects then it’s better to set your sights on a more affordable property that you can renovate properly. Otherwise wait until you’ve saved more money.
5.   Relying on the sales agent’s opinion about renovated value
Here’s another reason why you have to research the prices of renovated properties for yourself. You can’t rely on selling agents to give you an accurate estimate of the renovated value of a property. If you ask them what a property would be worth when it’s renovated they’re more than likely going to give you a very optimistic estimate.
Why would they do this? Well, apart from the fact that it’s in their nature to be very bullish with sale prices as no one wants to list their property for sale with a pessimist, it’s also in their vendor’s financial interest. They want to paint the property in the best possible light to encourage you to make an offer on it. The other problem is it’s also an unqualified estimate as they may interpret what you intend to do with the property as more high end than you actually intend to do.
6.   Doing the work yourself to “save money”
If your budget is small there’s always a temptation to do some or all of the work yourself to save money but DIY renovations can easily backfire. If the quality of workmanship is substandard this will diminish your sale price, possibly eliminating any profit you might have made in much the same way as under-capitalising on a renovation.
It’s also a false economy. You might save a few bucks on the cost of the renovation, but how much is your time worth? The time it takes you to paint walls and sand floors could be better spent looking for another deal. Plus, the longer it takes you to renovate, the more you’ll pay in holding costs. Why not just hire professionals to do all the work? Especially since you can still make a healthy profit without picking up a paint brush.
Patrick Bright is a real estate author and founder of Sydney-based buyer’s agency <a href="https://www.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, The Insider’s Guide to Profitable Property Investing and The Insider's Guide to Renovating for Profit. This is an excerpt from The Insider's Guide to Renovating for Profit.
</body></html>

pbright-aNtgvRfvJN

The top six profit-killing mistakes to avoid when renovating

<html><body>
The property funds management industry has undergone significant change over the past three years as a result of corporate activity and restructuring. While the highly leveraged position of several funds caused distress and ultimately failure such as those run by Allco and Babcock &amp; Brown, some funds have been subsumed by competitors or new entrants. Other fund managers have elected to strategically exit the industry such as Westpac and <place>Macquarie</place>.
Corporate activity in the unlisted retail property fund industry has been substantial. Table 1 shows the ranking of the five syndicate and unlisted property trust managers with highest funds under management in each of 2008 and 2011. 
Table 1 - Ranking of Property Syndicate and Unlisted Retail Fund managers
<table border="0" cellspacing="0" cellpadding="0"><tbody>
<tr>
<td width="55" valign="top">
Rank
</td>
<td width="84" valign="top">
2008
</td>
<td width="144" valign="top">
Assets ($m)
</td>
<td width="132" valign="top">
2011
</td>
<td width="144" valign="top">
Assets ($m)
</td>
</tr>
<tr>
<td width="55" valign="top">
1
</td>
<td width="84" valign="top">
Centro
</td>
<td width="144" valign="top">
5,590
</td>
<td width="132" valign="top">
Centro
</td>
<td width="144" valign="top">
3,790
</td>
</tr>
<tr>
<td width="55" valign="top">
2
</td>
<td width="84" valign="top">
Multiplex
</td>
<td width="144" valign="top">
2,861
</td>
<td width="132" valign="top">
Charter Hall
</td>
<td width="144" valign="top">
1,448
</td>
</tr>
<tr>
<td width="55" valign="top">
3
</td>
<td width="84" valign="top">
Becton
</td>
<td width="144" valign="top">
2,127
</td>
<td width="132" valign="top">
Orchard
</td>
<td width="144" valign="top">
1,424
</td>
</tr>
<tr>
<td width="55" valign="top">
4
</td>
<td width="84" valign="top">
Mirvac
</td>
<td width="144" valign="top">
1,372
</td>
<td width="132" valign="top">
Australian Unity
</td>
<td width="144" valign="top">
1,292
</td>
</tr>
<tr>
<td width="55" valign="top">
5
</td>
<td width="84" valign="top">
<place>Macquarie</place>
</td>
<td width="144" valign="top">
1,367
</td>
<td width="132" valign="top">
APGF
</td>
<td width="144" valign="top">
1,221
</td>
</tr>
<tr>
<td width="55" valign="top">
 
</td>
<td width="84" valign="top">
 
</td>
<td width="144" valign="top">
45%
</td>
<td width="132" valign="top">
 
</td>
<td width="144" valign="top">
51%
</td>
</tr>
</tbody></table>
Source: PIR 
Since 2008, Multiplex has sold its retail funds management business to the Canadian Brookfield Asset Management; Centuria and 360 Capital Management split the Becton funds between them; Mirvac first acquired both PFA and Domaine, then sold its retail funds management business to APGF; and Macquarie sold its retail funds management business to Charter Hall. Centro has undertaken a restructure of its Australian assets and funds into a new listed entity, Orchard is seeking a corporate solution and Australian Unity has acquired retail property fund management rights from both Westpac and Investa. 
The performance of the industry is also reflected in the change in the respective size of the industry. In 2008, funds under management totalled $18.5 billion. By 2011, asset sales, fund closures and asset write-downs left the industry with $13.3 billion, a reduction in size of 28%. The assets controlled by Centro in the unlisted property funds industry have been reclassified into the A-REIT industry, further reducing the size of the unlisted industry. 
Despite Westfield splitting out its new Retail Trust and the strategic exit from property fund management by ING, the A-REIT industry has experienced comparatively little change on its leader-board, with only one new name in the top five since 2008 as a consequence of the decision by Macquarie to exit property funds management. 
Table 2 - Ranking of A-REITs
<table border="0" cellspacing="0" cellpadding="0"><tbody>
<tr>
<td width="52" valign="top">
Rank
</td>
<td width="104" valign="top">
2008
</td>
<td width="144" valign="top">
Assets under management  ($m)
</td>
<td width="108" valign="top">
2011
</td>
<td width="144" valign="top">
Assets under management  ($m)
</td>
</tr>
<tr>
<td width="52" valign="top">
1
</td>
<td width="104" valign="top">
<place><city>Westfield</city></place>
</td>
<td width="144" valign="top">
51,241
</td>
<td width="108" valign="top">
<place><city>Westfield</city></place>
</td>
<td width="144" valign="top">
50,133
</td>
</tr>
<tr>
<td width="52" valign="top">
2
</td>
<td width="104" valign="top">
<place>Macquarie</place>
</td>
<td width="144" valign="top">
16,261
</td>
<td width="108" valign="top">
Stockland
</td>
<td width="144" valign="top">
14,544
</td>
</tr>
<tr>
<td width="52" valign="top">
3
</td>
<td width="104" valign="top">
GPT Group
</td>
<td width="144" valign="top">
13,967
</td>
<td width="108" valign="top">
Colonial
</td>
<td width="144" valign="top">
12,179
</td>
</tr>
<tr>
<td width="52" valign="top">
4
</td>
<td width="104" valign="top">
Centro Group
</td>
<td width="144" valign="top">
13,927
</td>
<td width="108" valign="top">
Centro Group
</td>
<td width="144" valign="top">
11,058
</td>
</tr>
<tr>
<td width="52" valign="top">
5
</td>
<td width="104" valign="top">
Stockland
</td>
<td width="144" valign="top">
13,700
</td>
<td width="108" valign="top">
GPT Group
</td>
<td width="144" valign="top">
9,752
</td>
</tr>
<tr>
<td width="52" valign="top">
 
</td>
<td width="104" valign="top">
 
</td>
<td width="144" valign="top">
53%
</td>
<td width="108" valign="top">
 
</td>
<td width="144" valign="top">
67%
</td>
</tr>
</tbody></table>
Source: PIR 
Over the three-year period, total assets in the A-REIT sector reduced by 20% to $129 billion, but the proportion of the assets held by the five largest managers increased significantly. This can be largely attributed to the dominance of Westfield, which increased its share of the A-REIT’s assets from 25% in 2008 to 34% in 2011. 
Corporate activity, strategic fund manager exits and excessive leverage, some culminating in corporate failure, have all translated into significant changes in the property funds management industry, particularly in the unlisted property sector. Following this shakedown, a more stable 2012 is in prospect for the property funds management industry. The enduring value of property investment is derived from the underlying assets which provide the return performance notwithstanding the overlay of gearing and fund strategies.
Mark Wist is senior asset consultant at <a target="_blank" title="Atchison Consultants" href="https://www.atchison.com.au/">Atchison Consultants</a>.
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Listed property trust industry should be more stable in 2012

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Singapore-based developer Frasers’ enormous Central Park residential development on Sydney’s Broadway has helped drive the number of apartment projects being built by offshore developers in Australia to a 20-year high, according to research by CBRE.
Dominated by Asian firms, offshore developers now have almost a third of the new apartment market, with more than 13,000 apartments either planned or in the marketing/construction phase in 37 separate projects across the country.
Based on average apartment completions in Australia in 2011 this represents a market share as high as 32%.
According to CBRE, developers from Singapore are proposing or building more apartments in Australia than developers from any other foreign country at present, and by a big margin.
<img src="/images/stories/offshoreinvest.gif">
Singaporean developers are responsible for almost 5,000 apartments presently planned or underway, with 58% by Frasers Property, and 65% of these in the Central Park project in Sydney.
To date, more than 500 apartments have been sold off-the-plan for the first residential stage, One Central Park, which is due for completion by mid-2013 with prices ranging from $460,000 to $1.25 million.
In October, Frasers and Japanese joint venture partner Sekisui House secured $550 million in funding for the 5.8-hectare mixed-use Central Park development.
The next most significant source of development capital is Hong Kong, with a single developer (Far East Consortium) behind 2,700 apartments in two Melbourne projects.
Malaysia (12%), China (9%), Korea (9%) and India (6%) make up the balance of what is a broad spread of Asian sources presently facilitating apartment projects in Australia.
According to CBRE executive director of global research and consulting Kevin Stanley,  foreign developers had not been this active in Australia since the building boom of the late 1980s/early 1990s, when mostly Japanese companies were active in developing offices, shopping centres and hotels.
The level of offshore investment in residential apartments mirrors the dramatic increase in the participation of <a target="_blank" href="https://www.propertyobserver.com.au/commercial/offshore-investment-in-australian-commercial-property-at-20-year-high/2011122052916">overseas investors in Australian commercial property</a>, which has also reached a two-decade high.
Like commercial property, overseas developers view Australia as a safe and steady market to diversify their activities and grow their businesses and one where there is steady occupier and investor demand for apartments.
Sydney and Melbourne account for four out of five apartments projects (79%) with the Gold Coast (10% of total), Brisbane (6%), Perth (3%) and Adelaide (2%) also popular destinations for offshore developers.
<img src="/images/stories/offshoreinvest2.gif">
“In a surprising result, Melbourne has a greater number of apartments proposed by foreign developers than Sydney, despite being a city with 450,000 fewer people,” says Stanley.
Earlier this week, <a href="https://www.propertyobserver.com.au/developments/chinese-developer-snaps-up-south-yarra-site-for-%2418-million/2011122052909">Chinese developer acquired a South Yarra residential development site for $18 million.</a>
Stanley says reasons for Melbourne’s appeal include its long-term connection to Asian countries through education and tourism; the greater availability and lower relative price of sites; and the city’s national reputation for the ease of conducting property business.
Melbourne is experiencing the highest concentration of CBD projects of any of the major cities while Sydney has a much more balanced distribution of apartments between the CBD, city fringe and suburban submarkets.
“This is a function of the tightness of site availability and the expense of land in the CBD, along with a growing acceptance of high-density living in suburban nodes, especially near railway stations,” says Stanley.
“In Brisbane, the city fringe has been much more popular with foreign apartment developers than the CBD, although there is a much smaller relative penetration by foreign developers generally into the Brisbane market to date, with a greater focus on nearby Gold Coast instead.”
Stanley says the impacts of foreign involvement in the apartment market were many and were mostly positive.
“Critically, it’s providing a stimulus to the construction sector at a time when development activity is generally at a low level,” Stanley says.
“Second, it’s providing new ideas, standards and designs to broaden the product range in Australia and introduce fresh competition in these areas. Coupled with development by local companies, it’s also leading to the urban renewal of precincts of Australian cities that have previously been underdeveloped and activating these areas with a new range of quality facilities, often in a mixed-use environment. The northern fringe of the Melbourne CBD and the southern area of the Sydney CBD stand out in this regard.”
 
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Frasers’ Central Park boosts offshore apartment projects to 20-year high: CBRE

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{yoogallery src=[images/stories/december22stamford]}
Prestige buyers have snapped up apartments in The Rocks’ latest luxury development, with only four of 122 apartments – plus the two penthouses – remaining in The Stamford Residences, which is now complete.
The development, by Stamford Property Services, includes high-end extras like a 24-hour concierge, 18-metre indoor pool and gymnasium.
The larger of the two three-storey penthouses  has four bedrooms (the master bedroom alone is 90 square metres), two terraces and 468 square metres of internal space, including a kitchenette, butler’s pantry and bar in the master suite. It is accessed by its own private lift and has its own internal lift in addition to the sweeping nine-metre-high staircase.  It comes with a $16.1 million price tag.
The smaller penthouse has 412 square metres of internal space and also includes two terraces. It has $13.4 million price expectations.
“The two penthouses offer an abundance of space rarely found in the CBD,” said Ron Keir of architects Kann Finch. “With an exclusive entry on level 28, they provide a sense of privacy and separation from the surrounding environment, while full-size windows allow occupants to reconnect with the surroundings.”
“The quality of the finishes is, of course, exemplary, and the ambience is assured through its classic understated style. Every appointment has been carefully considered to help make the penthouses bespoke homes,” Keir says.
Colliers is marketing the penthouses, along with the four remaining apartments.
The Stamford Residences and its attached townhouse complex, <a href="https://www.propertyobserver.com.au/new-south-wales/five-grand-terraces-built-within-heritage-reynell-development/2011061050463">The Reynell Terraces</a>, represent<a href="https://www.propertyobserver.com.au/developments/inner-sydney-running-out-of-space-for-off-the-plan-developments/2011110352209"> the last developments to be built in Sydney’s northern precinct</a> (stretching south from the Harbour foreshore to Market Street and east to Macquarie Street) until 2015.
“People appreciate that this is the last high-rise building in Sydney’s most sought-after precinct,” says Colin Griffin, director of residential project marketing for Colliers International. “It is a finite resource that will appreciate in value at the highest rate.”
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Only a handful of apartments remain in The Rocks' prestige Stamford Residences

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Refund Home Loans business founder Wayne Ormond has come under heavy fire from the man he sought to usurp as the king of mortgages, John Symond, as he finally broke his silence on the reasons behind the collapse of his franchise empire.
Ormond built a significant media profile on the back of numerous appearances on shows like Today Tonight, where he presented himself as a John Symond-like figure battling the banks while sharing lender commissions with borrowers.
Symond, though, has little sympathy for the collapse of Ormond’s business, which with around 350 franchisees had grown to rival Aussie Home Loans in size and reach – though without the same deep pockets – before its fall from grace.
“I’m not surprised what’s happened because I thought [Refund Home Loans] was a fundamentally flawed model,” Symond told BRW magazine.
“You can’t afford to say, ‘Hey, here’s $1,000’. You have to put that money in technology, business infrastructure and people coaching, everything that goes towards building your brand... How can you do that under his model?”
Symond’s comments come more than a month after Refund Home Loans collapsed owing 119 creditors a combined $9.7 million and as Ormond explains some of the factors that led to its sudden demise.
Ormond blames the franchise group’s lender for it being placed in administration as well as shouldering some of the blame himself for the business failing.
He accepts that he should have focused on its core proposition – mortgage broking – rather than diversifying into a number of other ventures including financial planning and real estate services.
Ormond had ambitions to open 400 real estate franchises nationally, operating along the same business lines as the mortgage broking business, with estate agents sharing up to half of their sales commissions with the buyer and seller.
Refund Real Estate and Refund Financial Planning were placed in voluntary administration two weeks after parent business Refund Home collapsed.
“We got away from our core business right at the end,” Ormond told BRW. “My advice is stick to what you know. Opportunities come along that will be tempting, but your core business is your bread and butter.”
Ormond says troubles began for Refund Home Loans when its lender (identified by BRW as Bankwest) demanded an audit report before providing any further funding.
The report revealed that Refund owed creditors and the Australian Taxation Office money and had entered into a deferred payment plan with them. It also identified other issues such as the company not having a chief financial officer at the time, and that it requiring a new accounting system as well as better financial management systems.
As a result of the audit report, the bank required Refund clear its debts before providing any more funding.
“The bank’s belief was that I required an equity solution, not a debt solution,” he says.
Ormond says he managed to raise $1.5 million from two investors but could not raise enough money after the share market collapsed and the business environment turned sour.
He says he is now focusing on “ensuring a smooth and easy transition for franchisees and considering new business opportunities outside of the real estate sector”.
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Wayne Ormond says mea culpa and cops serve from John Symond over Refund's collapse

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The legal dispute between Queensland-based advisory group The Investors Club and WA couple Marilee Coombs and Hugh Wilson will be heard in a Perth court next year after two attempts at a mediated resolution failed.
A closed hearing took place in the Federal Court of Western Australia on November 4 following a first court mediation taking place on September 12.
A spokesperson for Slater and Gordon, the law firm representing the Denmark, WA couple, told Property Observer that papers have been filed and the case is heading for trial.
“We are waiting for a date but are hopeful the case will be heard early next year,” the spokesperson says, adding that the case would be closely followed by other people who purchased property through the club and are “concerned about the value of their homes”.
In August this year Coombs and Wilson launched a claim against the property investment company and two staff members alleging they had been advised to purchase a three-bedroom bushland house in Highland Park on the Gold Coast that they later discovered was grossly overpriced. 
Coombs and Wilson allege the company engaged in misleading and deceptive conduct when it advised them to purchase the property. 
The property reputedly cost $630,000 when the couple bought it in 2007, though official records show a public sale price of $905,000. 
The Investors Club also negotiated a $60,000 discount for the couple on the sale price.
However, after the couple purchased the property they say an independent valuation revealed the unit was worth as little as $450,000 at the time of the deal.
Coombs says she relied on the advice and assurances of The Investors Club and that this was a sound investment.
In October the couple <a href="https://www.propertyobserver.com.au/residential/investors-club-legal-mediation-resumes-as-gold-coast-house-sells-at-huge-loss/2011110452215" target="_blank">crystallised their loss when the property was sold for $391,000.</a> 
The couple are represented by Slater and Gordon lawyer Carita Kazakoff, who says Wilson and Coombs were told by The Investors Club that the Kirribilli Heights house in Highland Park was worth up to $1 million, and they would make an instant profit of $300,000 on settlement. 
“My clients, who are in their late 50s and 60s, wanted a secure investment for their future. They trusted the professional advice given to them by The Investors Club. 
“However, after purchasing the Gold Coast property they are now hundreds of thousands of dollars out of pocket, and at risk of losing their family home,” Kazakoff said in August. 
“The Investors Club and its two staff members ought to have known that the purchase price of the property was well above market value, and that promises of an instant profit, and appreciation in value of $60,000 in the first year were unreasonable,” she says. 
A spokesperson for The Investors Club confirmed the dispute was heading for trial. The club denies the allegations. 
In September the club issued the following statement to Property Observer: 
“It is concerned to hear that an investor is taking action against a Branch Manager and Support Member in Western Australia over information provided for a property purchase in Kirribilli Heights Complex, Queensland, before the Global Financial Crisis in 2007.
“Six staff members at The Investors Club, including the branch manager who is presently being sued, also purchased property in the complex. The valuations for The Investors Club staff were completed by two different respected national valuers and came back at a similar valuation to the contract price. The investor who is taking action used a different lender to The Investors Club staff, who would have also insisted on a valuation and appointed an independent valuation company to complete, as is standard practice.”
“The investor, who is now suing The Investors Club, struggled with the mortgage repayments and the line of credit they had taken on the loan when the global financial crisis hit. They had the property retrospectively valued (in the last 12 months), returning a much lower valuation.
“The retrospective valuation returned a much lower price as number of owners in the complex had units sold as mortgagee in possession when the financial crisis hit, bringing down prices for all the properties in the complex.  The retrospective valuation places this valuation at a significant discount to the construction cost for the property as compared to the construction chartered quantity surveyor as used by the construction lender.
“The subject property is not a normal townhouse development, it is an internationally awarded development with 270-degree views of the Gold Coast coastline and is the last remaining approved development along the hinterland escapement and as such is a very unique property.”
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After mediation fails, Investors Club dispute headed for court

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CBRE has labeled 2011 the “year of the foreigner” because offshore buyers accounted for 37% of all commercial property transactions, the highest proportion of offshore investment in almost 20 years. 
Taking into account sales over $20 million, the total value of 2011 transactions reached $9.8 billion as of December 16, 13% higher than the previous year, with foreign investors accounting for $3.7 billion of these transactions. 
Asian buyers accounted for more than half (51%) of all offshore investment and nearly one in five (19%) of total transactions for the year. 
Outside of Asia, foreign capital has been flowing in from a wide variety of sources, including the US and South Africa. There have also been some first-time investments from Canada, Austria and China. 
German investors, once the driving force among foreign investors, accounted for just 10% of offshore activity, according to CBRE’s data, as concerns closer to home limited global acquisitions. 
The share of foreign investment in Australia has increased every quarter in 2011 after getting off to a slow start in the first quarter with just 4% of transactions being offshore buys. 
However, this share rose to 34% as the market bounced back in the second quarter, increased again to 41% in third quarter, before hitting 44% of total sales for the fourth quarter (as at December 16). 
“It’s been a strong and definite trend of foreign interest and activity in Australia’s property market in 2011,” says Kevin Stanley, CBRE’s executive director for global research and consulting. 
“There are many motivators, all working together at present. Australian yields remain high by global standards, kept that way ultimately by the high local cost of debt and the limit this places on bidding from domestic investors. Add to that the search for an economy with a half-decent outlook and an ease in doing property business and Australia is an obvious choice for global investors.” 
Rick Butler, CBRE senior managing director for international investments, says the “push into Australia is being driven predominantly by fund managers and sovereign wealth funds working out of Singapore, along with some big-hitting private investors from the same city”. 
“The Australian market continues to attract foreigners due to its growth story, compared to Europe and the US, together with its transparency.” 
The fast growth in savings in Asia has fuelled activity as investors adopt global investment strategies to diversify risk. 
While foreign investors have been the dominant buyer group in 2011, Stanley says there was increased competition from domestic groups toward the end of the year as superannuation funds, wholesale funds and unlisted property trusts started to increase acquisitions as more substantial assets reached the market, particularly from the troubled A-REIT sector. 
These domestic groups together accounted for 21% of acquisitions in 2011, making them the second largest group behind foreign investors. 
Across all property sectors, NSW recorded the largest share of sales in 2011 (32%), with Victoria accounting for 25%.  Queensland and Western Australian trading was in line with the size of their share of the property markets nationally, at 20% and 10% of sales activity respectively. 
Significant offshore deals in 2011 include:
<ul>
<li>Singaporean-based private investor Memo Corp buying 259 George Street $395 million 
</li>
<li>Hong Kong-based RREEF buying 20 Bridge Street, Sydney for $185 million </li>
</ul>
<ul>
<li>Credit Suisse’s all equity purchase of 55 Elizabeth Street, Brisbane for $165.5 million </li>
</ul>
<ul>
<li>US pend fund Pramerica/NPS buying 595 Collins Street, Melbourne for $130 million</li>
</ul>
<ul>
<li>A German pension fund (through RREEF) buying 140 Sussex Street, Sydney for $84 million</li>
</ul>
Major purchases made by domestic groups this year include:
<ul>
<li>The $310 million 50% purchase of the QV1 office building in Perth by superannuation fund Australian Reward Alliance. 
</li>
<li>The purchase of the office property at 452 Flinders Street, Melbourne for $201.5 million by the DEXUS Property Wholesale Fund.</li>
</ul>
 
 
<ul></ul>
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