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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As new home sales decline to levels last seen in December 2000 (according to the Housing Industry Association) and residential construction remains in the doldrums, Australia’s biggest property developers are pointing the finger of blame at councils for halting the approval of new developments.
In the last few months developers’ displeasure in dealing with councils appears to be growing faster than weeds in an abandoned development site.
It’s not surprising the issue is such a hot topic (ranking alongside concerns about housing affordability and interest rates) since council planning committees are a major barrier to developers transforming their master-planned communities and apartments from architect plans into bricks-and-mortar reality.
At its November investor road show in Queensland at the end of November, Stockland residential CEO Mark Hunter highlighted overcoming “high [development] approval hurdles” as one of the key challenges facing the company.
According to Hunter, the hurdles are increasing, as are the “horror stories” about local council nimbyism (not in my backyard)” campaigns.
“In Sydney, councils are dictating the type of product they want. They are saying they want three-bedroom units. The fact market cannot afford them does not seem matter,” Hunter says.
Hunter’s complaints are echoed by Stockland CEO Matthew Quinn, who recently described the process of dealing with small councils in Sydney as something akin to a “nightmare”.
Two weeks later at a property lunch in Sydney, Meriton boss Harry Triguboff was beating a similar drum when talking about getting his new projects off the ground.
Asked what had changed most about the market in his many years in the business, Triguboff quipped: “The fact that it takes so long to get approval from council.”
According to these same developers, the solution to the problem lies in amalgamating councils into regional “super councils” as occurred with the formation of the Sunshine Coast Regional Council in 2008 and the much older Brisbane City Council, which dates back to 1925 and is Australia’s largest metro council.
In October, following a legal challenge, Stockland won approval from the Sunshine Coast Regional Council for its enormous Caloundra South community project, which will be home to 50,000 residents over the next 20 years. 
Quinn noted that Stockland had “improved relations with super councils such as on the Sunshine Coast”.
Speaking alongside Triguboff at the same Sydney lunch, Dexus boss Victor Hoog Antink remarked that he had been “fortunate to grow up in Brisbane, which has the largest metro council in the country”.
“It’s a very efficient way to go,” Antlink said, backing “super councils” as the best opportunity to administer for economies of scale and to deliver “better professionalism”.
Calls for super councils have the support of lobbying groups such as the Urban Development Taskforce, which has lamented the inability of Australia to build enough new houses to meet the needs of the population.
In September, then CEO of the Urban Development Taskforce Aaron Gadiel blamed local councils and the state government for Sydney’s failure to build enough houses to meet the needs of the community.
“Sydney is simply not producing enough new homes to accommodate even this low level of population growth. “In fact, no capital city produces less new homes per capita than Sydney,” he said at the time. 
“The NSW government and local councils need to tackle the systematic problems in our planning system which is preventing our housing supply from meeting the community’s clear need.”
Gadiel’s replacement Chris Johnson says “larger planning units servicing various councils could ensure sufficient skill levels”.
Of course councils, planning authorities and residents may not quite see the value in having decisions about the look and feel of their communities made by a larger body, which may not have same degree of empathy or understanding of local issues or concerns. 
And of course many may agree with this assessment made by the Planning Institute of Australia NSW in its submission to the state’s planning system review, where it called the system both “complex and dysfunctional”, but also one that rewards proponents "with the deepest pockets as opposed to those that propose change of the greatest merit".
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lschlesinger-FZcF9M3vE6

Held up by red tape, developers want to deal with 'super councils'

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The Melbourne rental vacancy rate climbed from 3% to 3.4% in November with the number of properties available to rent climbing from 10,956 to 12,367, according to figures compiled by SQM Research. 
The city now accounts for a quarter of the 48,244 properties available to rent nationally, with Melbourne vacancies increasing every month while the national vacancy rate remains steady. 
According to SQM, Melbourne’s high levels of sale stock confirm the city is “currently undergoing an oversupply issue”. 
“Coming off the building boom that occurred in 2009 and 2010, the city has many ‘newly completely’ and ‘currently being constructed’ dwellings, but unfortunately not enough demand to meet the high levels of stock available,” says SQM. 
A year ago, Melbourne had a vacancy rate of 2.8%, with 10,270 properties available to rent. 
Nationally the rental market remains tight though the vacancy rate eased slightly from 1.7% to 1.8%, with more than 2,300 more properties available to rent in November than there were in October. 
Vacancy rates eased slightly in all the other major capital cities with the Sydney vacancy rate still remaining tight at 1.5%. 
Perth remains the tightest major capital city market, with a vacancy rate of just 0.8% and just over 1,200 properties available to rent, a slight improvement from the 0.7% vacancy rate recorded in October. 
Canberra was the only capital city where the vacancy rate tightened over November. Fewer than 300 properties remain available to rent in Australia’s capital city.
<img src="/images/stories/sqmdec21.gif">
SQM Research managing director Louis Christopher says 2011 has been a “landlord’s market, with rents nationwide recording rises of 4.6% plus, according to the Australian Bureau of Statistics”. 
“Sydney has recorded the fastest rents while Melbourne has been at the other end of the spectrum with zero rental growth, and in some areas rental declines. 
“I expect 2012 to be somewhat the same with possibly another five plus per cent increase. But this again assumes that our economy stays out of recession and we don’t all get sucked up into the back hole that is Europe. 
“We expect softness at the prestige end of the market because during a slowdown, discretionary spending is cut.” 
Hobart recorded the largest yearly growth in rental vacancies of all capital cities, with vacancies increasing by 0.9% over the past 12 months to a total of 448 vacancies (1.9%). 
Darwin has recorded the most substantial yearly falls, decreasing by 0.9% since the corresponding period of the previous year (November 2010) and coming to a total of 298 vacancies (1.3%). 
 
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Melbourne rental market oversupplied: SQM Research

<html><body>
<table border="1" cellspacing="0" cellpadding="0" width="322"><tbody>
<tr>
<td width="64" nowrap valign="bottom">
Postcode
</td>
<td width="116" nowrap valign="bottom">
Suburb
</td>
<td width="143" nowrap valign="bottom">
Average discount on vendor’s asking price for house sales
</td>
</tr>
<tr>
<td width="64" nowrap valign="bottom">
2043
</td>
<td width="116" nowrap valign="bottom">
<a target="_blank" href="/news">ERSKINEVILLE</a>
</td>
<td width="143" nowrap valign="bottom">
20.4%
</td>
</tr>
<tr>
<td width="64" nowrap valign="bottom">
2108
</td>
<td width="116" nowrap valign="bottom">
<a target="_blank" href="/news">PALM BEACH</a>
</td>
<td width="143" nowrap valign="bottom">
18.6%
</td>
</tr>
<tr>
<td width="64" nowrap valign="bottom">
2090
</td>
<td width="116" nowrap valign="bottom">
<a target="_blank" href="/news">CREMORNE</a>
</td>
<td width="143" nowrap valign="bottom">
18%
</td>
</tr>
<tr>
<td width="64" nowrap valign="bottom">
2261
</td>
<td width="116" nowrap valign="bottom">
<a target="_blank" href="/news">BLUE BAY</a>
</td>
<td width="143" nowrap valign="bottom">
17.2%
</td>
</tr>
<tr>
<td width="64" nowrap valign="bottom">
2263
</td>
<td width="116" nowrap valign="bottom">
<a target="_blank" href="/news">NORAH HEAD</a>
</td>
<td width="143" nowrap valign="bottom">
16.9%
</td>
</tr>
<tr>
<td width="64" nowrap valign="bottom">
2065
</td>
<td width="116" nowrap valign="bottom">
<a target="_self" href="/news">WOLLSTONECRAFT</a>
</td>
<td width="143" nowrap valign="bottom">
15.9%
</td>
</tr>
<tr>
<td width="64" nowrap valign="bottom">
2251
</td>
<td width="116" nowrap valign="bottom">
<a target="_blank" href="/news">COPACABANA</a>
</td>
<td width="143" nowrap valign="bottom">
15.8%
</td>
</tr>
<tr>
<td width="64" nowrap valign="bottom">
2257
</td>
<td width="116" nowrap valign="bottom">
<a target="_blank" href="/news">BOOKER BAY</a>
</td>
<td width="143" nowrap valign="bottom">
15.7%
</td>
</tr>
<tr>
<td width="64" nowrap valign="bottom">
2256
</td>
<td width="116" nowrap valign="bottom">
<a target="_blank" href="/news">PHEGANS BAY</a>
</td>
<td width="143" nowrap valign="bottom">
15.6%
</td>
</tr>
<tr>
<td width="64" nowrap valign="bottom">
2250
</td>
<td width="116" nowrap valign="bottom">
<a target="_blank" href="/news">POINT FREDERICK</a>
</td>
<td width="143" nowrap valign="bottom">
15.4%
</td>
</tr>
</tbody></table>
Source: RP Data
 
 
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cknowlton-QnEa6ntUYP

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

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It’s just about over – the year of the great Australian house price debate.
If there were a prize for the number of diverse viewpoints on the future of our housing market, 2011 would claim it.
The Super-Pessimists, like Steven King ….oops, Keen, and Harry Dent, predicted prices would plummet 40 to 50%.
The Economist proclaimed the market 56% over-valued, while Money Morning prophesied a nightmare “100-year slump”.
And as if that weren’t enough to put a serious dent in confidence, the Pessimists, like the OECD and Goldman Sachs, did further damage with reports of house prices up to 35% over-valued.
Groups like Morgan Stanley and Rismark – we’ll call them the Stagnationists – indicated we will all be treading water.  They anticipate longer-term flat prices.
SQM Research forecasts little change at all.
But the range of opinions didn’t stop there.
Optimists, like Investment Property Central, focused on the stability of property but ignored any effects from the GFC.
And the Super-Optimists, like QBE/ BIS Shrapnel, forecast faster economic growth and gains of anywhere from 16 to 20% in some of our capitals over the next three years.   We wish!
So, what do we think?
Well, like the Stagnationists, we anticipate very little movement – at least for the immediate future.
In a nutshell, we expect a period of fairly flat growth for the next several years, on the eve of modest improvement.
Prices should rise, but they will be subdued, and they should increase on the back of rents.
One hurdle – our recent drop in population growth – has caused underlying demand for housing to drop by a third across Australia since 2009.  Queensland and Victoria have experienced even greater falls.
Thus 2011-12 will be a slow year for new housing starts – just 135,000 are expected to be built over the next 12 months, a drop of 15% over the previous year.
Assuming stable interest rates for the next six to 12 months, this level of new supply would comfortably cater for the expected increase of about 325,000 in the Australian population next year.
Our forward estimates are for, on average, between 150,000 and 160,000 new housing starts each year over much of the next decade.
A fall in interest rates would have a positive impact on new housing starts, but without a rise in population growth, there is really little need to build more dwellings.
Queensland’s outlook, however, is beginning to look a little sunnier.
The state’s growth is on the rise, boosted by coal output and major resource development.
And the number of full-time jobs is increasing which, ultimately, will translate to higher levels of migration, stronger housing demand and eventually price (and rental) growth.
But patience is crucial.
To recap, we look to some improvement in nominal terms, but in real terms, expect a period of flat growth.
Improvement should follow, within a small positive band of 2% to 4% per year over the next several years.
Wishing you good health, good cheer, and growing confidence throughout the new year.
 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 title="Matusik's Missive" target="_blank" href="https://matusikmissive.wordpress.com/">Matusik's Missive</a>.
 
 
 
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michaelmatusik-49YzLvdmNv

The great house price debate - which side will be proven right in 2012?

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A Chinese developer has acquired a South Yarra residential development site for $18 million.
The 2,393-square-metre site at 3-9 Claremont Street, which has an approval for 236 apartments plus office and retail accommodation, was bought by a “well-known developer linked closely to a city near Shanghai in China”.
It is situated close to South Yarra Train Station, the Chapel Street retail ship and the Woolworth's Shopping Centre.
The sale price translates to a rate of $7,521 per square metre of land and $76,271 per unit site based on the approved permit.
The deal was negotiated by Mark Wizel and Justin Clarkson from CBRE.
“This represents the strongest price paid for a development site in South Yarra or Prahran of this scale over the past two years,” says Wizel.
“We received several expressions of interest and short listed three parties all of whom were associated with interests from mainland China. This is further evidence of the underlying confidence that Chinese groups have in the Melbourne residential development sector as well as the underlying interest they have in divesting funds to Australia.” 
Wizel says the 10% decline in the value of the Australian dollar since August 2011 has helped drive Chinese developer interest in the Australian market. 
“In the case of Claremont Street, the added attractions were the approved planning permit and the strong end market for apartments in South Yarra,” he says. 
The property is the latest in a series of major inner-Melbourne residential sites to be acquired by Chinese developers over the past two years.
A year ago, the Deague family's Asian Pacific Building Corporation sold its 3,037-square-metre site at 10 Daly Street, South Yarra to the Lyz Property Group based in China's Jiangxi province for $28.5 million, equating to about $9,300 per square metre. The site, which included the neighbouring historic Arlie Mansion, the former home of prime minister Stanley Bruce, has approval for up to 426 apartments.
In September 2010, the China Ever Bright Group bought the 1.5-hectare Stonington Mansion development site in Malvern for just under $30 million – a $17 million discount to the previous price paid by property fund manager Ashington in June 2008. The site has approval for 31 apartments, 14 luxury houses, 22 townhouses and 12 "townhomes". 
“We estimate that mainland Chinese groups have spent in excess of $170 million on acquiring major inner city sites over the past two years with an additional $130 million in sites being sold to development companies with direct interests in Singapore and Malaysia,” he says.
Wizel says in CBRE’s experience developers from mainland China are generally more comfortable acquiring suburban - rather than CBD - sites in locations such as South Yarra, Prahran, Brighton, Balwyn and Doncaster while Malaysian and Singaporean developers tended to focus on more ‘core’ locations such as the Melbourne CBD and St Kilda Road.
The sale of the Daly Street site and Stonington Mansion site was part of an 18-month injection of Asian development capital into the Melbourne market following the Foreign Investment Review Board lifting its restriction in 2009 to allow 100% of a project to be sold to offshore buyers provided the development has more than 100 apartments.
 
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Chinese developer snaps up South Yarra site for $18 million

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The Housing Industry Association has amended its forecasts for housing starts in the year ahead, saying it expects the current financial year to result in just 141,000 new starts, well below demand.

However, the prediction comes as housing finance and approvals figures have been improving over the last few months, with the latest interest rate cuts expected to spur some activity.
HIA economist Harley Dale told SmartCompany this morning the group is now forecasting a 10.4% decline in starts for 2012, "recognising clear downside risks for the forecast" given the situation in Europe.
"It's roughly the same forecast we've had the whole year, give or take a thousand starts or so, but there's been some upwards revisions on the previous financial year on the part of the ABS and we've made some modest amendments to our regional forecast."
"Our aggregate forecast is within that area of 141,000 starts for the current year."
There is some improvement expected in 2012-13, Dale says, when the organisations forecasts a 6% rise in starts to reach about 149,000.
But overall, Dale says that's coming from a low base and even then, housing starts will need much more activity in order to cater for demand.
"We're looking at an increase of around 6% for that year, and that's following two consecutive years of declines."
"But to put that into perspective, we're talking about forecasts that would put housing starts in the 140s. A 6% rise gets you just under 150,000, and the underlying demographic demand is running at about 175,000 dwellings per year."
The lack of housing starts has been a point of contention in the industry, especially as more construction providers collapse into insolvency as the industry suffers the worst number of insolvency appointments.
"It's better than further declines," Dale says. "But there's still a long way to go to get to the levels on par with the requirement for the growing population."
This article originally appeared on <a href="https://www.smartcompany.com.au/index.php" target="_blank">SmartCompany.</a>
 
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pmcstafford-pr9eMARWoN

HIA upgrades housing starts forecasts, but warns industry still has a long way to go

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{yoogallery src=[images/stories/december13local]}
Australand has sold 33 of 116 apartments to be built in the inner-Melbourne suburb of Carlton.
The Local project, which launched in early November, will comprise two low-rise buildings, one designed by Fender Katsalidis architects and the other by Arm Architecture. Australand has sold 20 in the Fender Katsalidis building, and the remaining 13 in the Arm building. All were to owner-occupiers.
One-bedroom apartments will range in size from 44 to 54 square metres and cost between $350,000 and $450,000.
The majority of the development will comprise two-bedroom apartments ranging in size from 64 square metres to 74 square metres. Prices range from $500,000 to $670,000.
There will be six three-bedroom apartments of between 91 and 96 square metres. Prices start from $780,000 for these units.
Sarah Bloom, development director, built form, of Australand, says the inner-city location appeals to buyers.
“Located only 1.6 kilometres from the CBD, Local is at the very heart of what makes cosmopolitan Carlton the perfect inner-city lifestyle location,” Bloom says.
“Bounded by Palmerston, Canning and Elgin streets, residents will enjoy gracious tree-lined avenues, while stylish restaurants and cafés, great shopping, cinemas, and some of the city’s oldest parks and gardens are all conveniently located.”
Both buildings will have six green star sustainability ratings, with features such as water-efficient fixtures, solar-boosted hot water, rainwater harvesting and future-proofing for greywater supply.
The Fender Katsalidis building includes a communal rooftop with barbecue area and pizza oven.
For advice on buying property 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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Seven weeks in, Australand's Local Carlton development selling briskly

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Purchasing a property is one of the biggest financial commitments you’re likely to make in your lifetime.
Only certain properties should be bought without you seeing them first. I recommend that those looking for a new home to live in themselves should see the property in question before making an offer.
However, purchasing investment property can often be done without the buyer seeing the property at all. Successfully purchasing a property without viewing it beforehand is dependent on the level of trust you have in the buyer’s advocate you have engaged.
When presenting a property to a client, I provide them with a detailed report that includes historical growth patterns and market value for properties within that specific area. We also provide detail on land size, orientation and comparable sales evidence of similar properties.
When engaging someone to act on your behalf it’s important you’re confident that they’re acting in your best interests. It’s imperative that they have extensive knowledge and experience in the property industry. This ensures that they are well across property market in the area that you’re looking to invest in.
Three important factors to consider when selecting someone to purchase property on your behalf:
1. Experience
Certification and experience provide a base for grounding and trust. Look at a buyer’s agent’s history; has he or she had experience in the property industry? Working in a variety of roles in the property industry enables a multifaceted understanding of the property market. If your buyer’s advocate is also a licensed real estate agent, he or she will be familiar with selling techniques, growth patterns and auction clearance history. Industry experience is integral to an ability to build relationships.
2. Industry relationships
Pre-existing relationships with real estate agents enables buyers’ advocates to unearth properties that are yet to be advertised to the wider market and present them to their clients.
3. Set fee vs. percentage of the purchase price
Engaging professionals to act on your behalf will take the stress and complication out of purchasing property. When engaging a company, look at whether its fees are based on a percentage of the final purchase price or whether they’re set from the beginning. It’s important that you can be confident your advocate has your best interests at heart and won’t be making more money should he or she recommend a more expensive property.
Cameron Deal is senior buyer advocate at<a href="https://www.infolio.com.au/" target="_blank"> Infolio Property.</a><a href="https://www.infolio.com.au/" target="_blank"> </a>
For advice on buying your first investment property<a href="http://propertyobserver.com.au/ebooks/first-investment-property-a-beginner-s-guide" target="_blank">, download our free eBook.</a>
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When buying an investment property unseen, trusting your buyer's agent is essential

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As we look to what's ahead for 2012, Property Observer is republishing some of our most noteworthy stories of 2011.
 
Along with their booming profits and market dominance, Australia’s four biggest banks have collectively invested about $2 billion dollars in new office developments in Melbourne and Sydney.
ANZ and NAB are already comfortably settled into state-of-the-art and gargantuan headquarters in Melbourne’s Docklands precinct while CBA recently took occupation of new $500 million premises in Darling Quarter on the western fringes of the Sydney CBD.
Currently under construction is NAB’s second Docklands office block at a cost of $400 million featuring 64,000 square metres of floor area, and the Commonwealth Bank will take up to a third of a new tower being built in the Melbourne CBD on Collins Street.
Not be left out Westpac has committed to taking up residence in a new $105 million office building mooted for the Paris end of Collins Street due to be developed by Grocon and APN Property Management.
Here’s a look at the office projects the major banks have invested in, starting with projects already completed and occupied by banking staff:
Commonwealth Bank
<img src="/images/stories/combankdarling1.jpg">
Name: Commonwealth Bank Place (redeveloped former Sega World site) Location: Darling Quarter, western CBD fringe, Sydney Cost: $500 million Space: 56,000 square metres over two eight-storey buildings Number of staff: 6,200 Environmental rating: Six green star rating for its design and a five-star NABERS energy rating. CBA is also aiming for a six green star “as built” rating.
<img src="/images/stories/combankdarling2.jpg">
Standout feature: The building is designed to promote activity-based working. Teams are assigned a primary working space called a “home zone”. In the home zone, personal lockers are provided for storage. Home zones are dotted with stylish open breakout rooms, collaboration spaces or designated meeting areas.
 
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NAB
<img src="/images/stories/nabbourke2.jpg">
National @ Docklands
Number of staff: 3,900 Environmental rating: NABERS Energy Rating of 4.5 star (five stars with Green Power) Developer: Lend Lease Architect: Bligh Voller Nield
<img src="/images/stories/nabbourke3.jpg">
Standout feature: It has no individual offices. Each building has large open floor plans and a central atrium. NAB employees were consulted on the design of workstations design and selection of chairs.  800 Bourke Street is one of Australia's inaugural green buildings and was designed and built before the introduction of the green star ratings tool. In 2005 it won 2005 Banksia - Leadership in Sustainable Buildings Award.
 
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ANZ
<img src="/images/stories/anzhq.jpg"> 
Name: ANZ Centre Location: 833 Collins Street Docklands, Melbourne Cost: $512 million Space: 86,000 square metres Environmental rating: Six green stars for office design Developer: Lend Lease Architect: HASSELL and Lend Lease design Awards: named Victorian Development of the Year at the Property Council's 2011 Innovation and Excellence Awards.
 <img src="/images/stories/anzhq2.jpg">
Standout feature: The building produces 70% less greenhouse gas emissions, generates much of its own electricity using the on-site gas-fired tri-generation plant, solar cells and wind turbines and uses about 50% less potable water than a standard Australian commercial building.
 
 
<hr class="system-pagebreak">
 
Under construction
NAB

<img src="/images/stories/nabbourke1.jpg">
Name: Docklands 2 Location: 700 Bourke Street, Docklands, Melbourne Cost: $350 million Space: 63,000 square metres across 14 floors Number of staff: 5,900 Environmental rating: Six star green star, five-star NABERS energy rating Developer: Cbus Property Architect: Woods Bagot Due for completion: Mid-2013
Standout feature: Besides its unique design built on a triangular site, the building will include a childcare centre, concourse level retail, a public auditorium and accessible public throughways.
 
Commonwealth Bank
<img src="/images/stories/combankcollins1.jpg"> 
Location: 357 Collins Street Space: 30,000 square metres of office space over two towers, one third to be occupied by CBA Developer: Australand Environmental rating: Five-star NABERS rating and four green star rating targets Due for completion: October 2012
<img src="/images/stories/combankcollins2.jpg">
 
 
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In the development pipeline
Westpac
<img src="/images/stories/westpaccollins.jpg">
Location: 150 Collins Street
Cost: $105 million Space: 20,000 square metres of office space over 10 levels Environmental rating: Six green stars for office design and five-star NABERS rating
Developer: APN Property and Grocon 
The <a href="https://www.propertyobserver.com.au/office/westpac-takes-paris-end-of-collins-leaves-docklands-to-other-banks/2011092251651">proposed site for the tower</a> is currently occupied by an Art Deco multi-level car park behind the historic Scots Church on the corner of Russell and Collins streets.
 
 
 
 
 
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Big banks have big investments in CBD office space in Melbourne and Sydney

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The addition of new retail space in the Perth CBD has created a sought-after market for “secondary” retail properties, according to the December market report by Herron Todd White. 
Herron Todd White commercial valuers anticipate about 15,500 square metres in new commercial stock will be constructed in in the Perth CBD in 2012 following on from about 24,000 square metres added during 2008 and 2009. 
Demand for new stock remains strong, with the Perth CBD retail market benefiting from tight vacancies in both offices and inner-city residential. Retail vacancy rates hover below 5.5%, with the overall escalating stock levels matched by growing demand. 
“To some extent the significant addition of new space has resulted in this market becoming a two-tier market, with the older developments increasingly being perceived as a ‘secondary’ property market,” the report says. 
“Property sales in this segment of the market, which are predominantly made up of strata-titled unit properties, generally have no shortage of willing buyers looking to purchase either leased or vacant properties. 
“Transactions in this sub-market have been quite limited, although this is due to the lack of supply as these properties are generally very tightly held.” 
Despite the demand for these assets, buyers remain price-sensitive and according to Herron Todd White “are not keen on setting new price benchmarks”. 
Outside of the Perth CBD, investors in bulky good stores in Perth should expect higher rental returns in 2012, while regional supermarkets will remain sought after by institutional investors, according to the report. 
The report notes that over recent years, with shopping centres have increased in size while the introduction of bulky goods developments “agglomerating a number of larger retailers”, which has intensified competition significantly. 
“The tenants of bulky goods properties tend to comprise large national retail companies. Despite most bulky good retailers having endured difficult market conditions over the course of the year, rental rates have generally remained steady,” says HTW. 
“This appears to be due to a limited supply and limited construction, and so it is likely that rental rates will rise over 2012.” 
“Assets in this category are also tightly held, as they provide relatively high returns with little risk of default.” 
Notable bulky good properties sales this year include a 2,200-square-metre Cannington store at 1429-1433 Albany Highway, which sold for $6.65 million at a passing yield of 7.4%. Tenants include EB Games, Avanti Plus and The Outdoor Furniture Specialists, with a weighted average lease expiry of 3.85 years. 
Regional supermarkets remain the competitive retail sector, “with owners continually under pressure to refurbish, extend and maintain to ensure a desired tenancy mix”. 
“This asset group is limited to institutional investors who have the expertise in managing these assets. There have been no significant sales this calendar year, aside from capital raisings via the establishment of retail trusts,” HTW says.
Sales included the Thornlie Square Shopping Centre, which sold for $21 million, at a passing yield of 11%. The shopping centre, which has a gross lettable area of 14,583 square metres, was refurbished in 2010 at a cost of $2.5 million. The property was purchased by a private investor following a lengthy 12-month marketing campaign.
The report suggests investors steer clear of older-style strip shops and showroom developments, which are becoming increasingly obsolete.
“As expected this lower end of the market has had a challenging year. We have noted over the year that these properties require lengthy selling periods and competitive pricing. Buyers in this market tend to possess limited capital and a limited potential in acquiring the necessary finance.”
 Photograph by eGuide Travel
 
 
 
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