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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Despite two consecutive interest rate cuts the construction industry might not begin to recover until late next year, experts have warned, after official figures showed housing starts fell in the September quarter.

The warning comes as the construction industry continues to suffer under their highest number of insolvencies in any industry. Yesterday, South Australian builder Candetti Constructions was also confirmed to have been placed in administration.
Housing Industry Association economist Andrew Harvey says yesterday's data showing a 12.1% annual decline in the number of new houses built in the September quarter should be taken in context with the most recent rate cuts – but also says it's a dire situation.
"We are coming off a low base. And in my personal view, those rate cuts were fundamental in turning around confidence."
"But the nervousness around the situation in Europe has really pervaded through the new home market and it might take more than the couple of cuts we've already had to pick up the starts."
In fact, Harvey says, any recovery may be a long way off, closer to the end of next year than in the next few months. With economists expecting another rate cut in February, Harvey says it'll take some time for the benefits to seep through the rest of the market.
"If you look at the national accounts data, it's showing there's not that much to the Australian economy," he says.
"It's going to take some time for these cuts to feed through. We're looking until around mid-2012 or even later, towards the end of next year, before things start picking up."
The situation comes as the industry continues to suffer the highest insolvency appointments out of any other sector. Over the past year several smaller businesses have fallen over, and some larger firms have failed as well, with Candetti in South Australia only the latest casualty<a target="_blank" href="https://www.propertyobserver.com.au/industry-news/construction-group-candetti-constructions-placed-in-administration/2011121352829">.</a>
"The situation in construction is starting to feed into society in general," Harvey says. "You get the feeling that you don't want to see this continue for another eight months."
Harvey says the government needs to stop focusing on mining as the saviour of the economy, and recommends action to be taken for home owners. Despite rate cuts already announced, and possibly more on the way, he says it's time for some external assistance to get the industry moving.
"Home building is essential to having the economy growing again."
"With all of the uncertainty swirling around at the moment, it's probably at the stage where the federal government has to do something."
This article originally appeared on <a target="_blank" href="https://www.smartcompany.com.au/">SmartCompany</a>.
 
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pmcstafford-pr9eMARWoN

Housing industry warns interest rate cuts may not boost sector until late 2012

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The unlisted Investa Commercial Property Fund (ICPF) is set to acquire half of 120 Collins Street, one of Melbourne’s most recognisable office towers, from its fund manager, Investa Property Group.
The fund will use the proceeds of a $110 million capital raising due to be completed this week as well as equity commitments of $175 million received earlier in the year to acquire 50% of 120 Collins Street for about $255 million, with the remaining $30 million to be spent on increasing its stake in 400 George Street in the Sydney CBD by 5.1% to 25%.
The Investa Property Group will retain 50% ownership of the office tower.
The investments will increase total assets under management in the fund to more than $1.6 billion.
Rising up 50 levels, 120 Collins Street Melbourne is a premium-grade office building with panoramic city skyline views and a total net lettable area of 64,831 square metres. It is at the “Paris end” of Collins Street with retail tenants including Louis Vuitton, Rolex and Armani. 
The office tower has been held by Investa since its 2003 when it acquired it at part of takeover of the BT Office Trust. 
In 1993, BT Office Trust paid $286 million to buy 120 Collins Street from the Grollos family (now Grocon). 
Located on the corner of George and Kings Street, 400 George Street is an A-grade office building with 51,222 square metres of net lettable area. 
ICPF fund manager Peter Menegazzo says the ability to access “quality assets” was a major factor in attracting the capital. 
“We were seeking to make a strategic acquisition in the Melbourne CBD, and are now set to acquire an interest in one of Melbourne's best buildings, in this very tightly held market,” he says. 
Menegazzo says both new and existing investors based locally and offshore participated in the capital raising.
The fund will seek to raise new equity in 2012 to fund further acquisitions.
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lschlesinger-FZcF9M3vE6

Investa Commercial Property Fund to buy half of 120 Collins in Melbourne CBD

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Sydney rental vacancies remained unchanged for the third consecutive month in November.
In the major regional cities, Newcastle vacancies declined, but increased in Wollongong, according to the Real Estate Institute of NSW.
November’s rental vacancy rate for the Sydney metropolitan area remained steady at 1.4%.
Decreases were recorded in Sydney’s inner and outer suburbs, while middle suburbs recorded a slight increase.
•             Inner suburbs (0-10km from CBD) fell 0.1% to 1.2%
•             Middle suburbs (10-25km from CBD), rose 0.1% to 1.7%
•             Outer suburbs (more than 25 km from CBD) fell 0.1% to 1.3%
Newcastle recorded a sharp decline last month, down 0.3% to 1.6% although in contrast, Wollongong recorded a 0.4% increase to 2.2%.
Across the Hunter region vacancy rates fell 0.3 to 1.4% and in the Illawarra region they rose 0.1 to 1.8%.
Vacancy rates fell on the Central Coast for the fourth consecutive month, down 0.2 to 1.5%.
The new president of the REINSW, Christian Payne, has called on government at all levels to work together to address the chronic shortage of rental accommodation.
“As 2011 comes to a close we are in exactly the same desperate straits as last year,” he says.
“In the last 12 months the percentage of available properties for rental has not even come close to breaking through the 2% barrier; that is an appalling outcome given our claim to being the ‘premier state’.
“It is incumbent upon government to act in a constructive and decisive way to tackle the rental crisis that is an entrenched part of New South Wales.”
 
 
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jchancellor-FAypfDUnLy

Rental vacancies fall in Sydney's inner and outer suburbs but rise in middle ring

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{yoogallery src=[images/stories/september16rosebay]}
The Rose Bay harbourfront home of the late tourism industry entrepreneur Bill Bursill has been bought by a family member.
More than $16 million had been initially sought by Wayne Yates from Laing + Simmons Double Bay, but this was revised to $14 million hopes after a nearby $15 million Bayview Hill Road, Rose Bay sale provided contemporaneous comparative pricing during the marketing campaign.
The Bursill holding had a $13 million unimproved capital land value.
The family purchased the waterfront land in 1950 when it was being used as tennis courts. <a target="_blank" href="https://www.propertyobserver.com.au/new-south-wales/leisure-entrepreneur-bill-bursill-s-rose-bay-house-up-for-auction/2011091651576">The 1950s house </a>was built over two blocks, capitalising on its views down the harbour to the Harbour Bridge.
Having been predeceased by his wife, Valerie, Bill died in February this year, the day before his 96th birthday.
The house had been listed by his four children.
In the 1950s Bursill was instrumental in determining the site for a ski village at Thredbo, where his first Bursill Lodge was built out of a giant refrigerator cabinet bought at an Army disposal store. He also had another tourism lodge Rainbow Beach in Queensland, where his lodge, The Mikado, was established when nearby Noosa Heads was just a sleepy hamlet.
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Bill Bursill's Rose Bay harbourfront house sells to a relative

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Housing affordability has been in the headlines again, but this time around some seriously good research is the cause.

<p style="margin-bottom: 6pt; background-image: initial; background-attachment: initial; background-origin: initial; background-clip: initial; background-color: white; background-position: initial initial; background-repeat: initial initial;">A new <a target="_blank" href="https://www.ahuri.edu.au/themes/housing_affordability/">study</a> for AHURI (Australian Housing and Urban Research Institute) strongly suggests that the traditional method of calculating housing affordability is outdated and should be considered in conjunction with other ways of weighing up whether people can afford their mortgage or rent.

<p style="margin-bottom: 6pt; background-image: initial; background-attachment: initial; background-origin: initial; background-clip: initial; background-color: white; background-position: initial initial; background-repeat: initial initial;">We have been banging on about this for close to a decade, and this missive pulls together some of our thoughts on this matter.

<p style="margin-bottom: 6pt; background-image: initial; background-attachment: initial; background-origin: initial; background-clip: initial; background-color: white; background-position: initial initial; background-repeat: initial initial;">The most commonly used benchmark to determine whether housing is affordable is if it costs less than 30% of a household’s income.  However, few know that the 30% benchmark was established at the government’s 1992 National Housing Strategy and was intended to apply to lower-income households only.  However, it is more often than not now quoted in reference to all households – even those on higher incomes.

<p style="margin-bottom: 6pt; background-image: initial; background-attachment: initial; background-origin: initial; background-clip: initial; background-color: white; background-position: initial initial; background-repeat: initial initial;">Another point of contention is the source of the “household income” information.  Most commentary on this issue uses median weekly family income.  A family is defined as a married couple with or without dependent children.  Such a definition is quite prescriptive and precludes a large number of home buyers.  No consideration is given to age, for example, which provides a much better basis on which to analyse housing affordability.

<p style="margin-bottom: 6pt; background-image: initial; background-attachment: initial; background-origin: initial; background-clip: initial; background-color: white; background-position: initial initial; background-repeat: initial initial;">Also contentious is that the income data is derived from the ABS census and updated on the basis of movements in average weekly earnings.  We remain sceptical about certain elements of the census and the income data concerns us the most.   One in eight households across Australia do not state their income on their census form, resulting, we believe, in a lower median household income than is really the case.

<p style="margin-bottom: 6pt; background-image: initial; background-attachment: initial; background-origin: initial; background-clip: initial; background-color: white; background-position: initial initial; background-repeat: initial initial;">In our experience, using income figures sourced from the Australian Tax Office provides a more accurate picture.  And the statistics here don’t lie, with median household income across Queensland, for example, being 21% higher when measured by the ATO against the census.  In short, it is harder to lie to the ATO than it is to the statistical bureau.

<p style="margin-bottom: 6pt; background-image: initial; background-attachment: initial; background-origin: initial; background-clip: initial; background-color: white; background-position: initial initial; background-repeat: initial initial;">Some better measures

<p style="margin-bottom: 6pt; background-image: initial; background-attachment: initial; background-origin: initial; background-clip: initial; background-color: white; background-position: initial initial; background-repeat: initial initial;">The first one looks at income left over after debt servicing.  This approach paints a different picture to that obtained simply by calculating the proportion of income devoted to repayments.  Rising incomes have allowed households to meet rising loan repayments while maintaining, and often increasing, living standards.  Rising household incomes mean that the 30% traditional affordability benchmark is now outdated.  In fact, given higher income levels now, households can devote as much as half of their income to debt servicing, while maintaining the same standard of living.  The AHURI study found similar results.

<p style="margin-bottom: 6pt; background-image: initial; background-attachment: initial; background-origin: initial; background-clip: initial; background-color: white; background-position: initial initial; background-repeat: initial initial;">Another approach recognises the shortcomings of using median incomes of all households (or families) and instead considers the incomes of households in the age bracket of typical first-home buyers.  In this case, this relates to households in the 25 to 39 age bracket.  When looking at the proportion of residential sales by price range and taking into account interest rates and borrowing capacity, the typical first-home buyer could afford to buy one-third of the dwellings for sale across the country.  We estimate that this figure lifts to just under 40% for Queensland.  Now, while this is down on the long-term average of 45%, housing affordability measured by this series appears far less stressed than the traditional measures.

<p style="margin-bottom: 6pt; background-image: initial; background-attachment: initial; background-origin: initial; background-clip: initial; background-color: white; background-position: initial initial; background-repeat: initial initial;">The big problem here is that first-home buyers these days want everything that opens and shuts in their first home.  A recent ABS study shows that three out of four first-home buyers bought either three- or four-bedroom dwellings last year, with 26% buying a property with four or more bedrooms – as their first home!  It probably had fully ducted air, secured off-street parking and a swimming pool, too.

<p style="margin-bottom: 6pt; background-image: initial; background-attachment: initial; background-origin: initial; background-clip: initial; background-color: white; background-position: initial initial; background-repeat: initial initial;">A third of first-home buyers are couples and another 25% live alone.

<p style="margin-bottom: 6pt; background-image: initial; background-attachment: initial; background-origin: initial; background-clip: initial; background-color: white; background-position: initial initial; background-repeat: initial initial;">The last measure involves taking into account investment assets and income.  Ratios of household debt to assets have been much more stable over recent years than the ratios of debt to income.  It needs to be noted that traditional measures of affordability fail to take into account investment income.  When you do so, affordability measures appear far less stretched.

<p style="margin-bottom: 6pt; background-image: initial; background-attachment: initial; background-origin: initial; background-clip: initial; background-color: white; background-position: initial initial; background-repeat: initial initial;">These three measures suggest that housing affordability is not as dire as many fear.  This is borne out by Australia’s very low housing loan arrears rate.  While the housing loan arrears rate has risen over the five years, it still remains low by international comparison.

<p style="margin-bottom: 6pt; background-image: initial; background-attachment: initial; background-origin: initial; background-clip: initial; background-color: white; background-position: initial initial; background-repeat: initial initial;">Anecdotal evidence also suggests that housing affordability is not as constrained as some would have us believe.  If you remain sceptical, spend a few hours in a major shopping centre and watch how many potential first-home buyers are spending up – and big.  Or visit your local airport on the weekend and see how many young couples are off for a weekend away.  The same applies when dining in some of our better restaurants.

<p style="margin-bottom: 6pt; background-image: initial; background-attachment: initial; background-origin: initial; background-clip: initial; background-color: white; background-position: initial initial; background-repeat: initial initial;">Housing affordability is at nowhere near crisis level in this country.  Instead of the government giving ‘hand outs’ to first-home buyers – which only lifts price – policy should address structural factors that lead to excessive housing demand and/or inadequate supply.  And please don’t get me started on the baby bonus!

<p style="margin-bottom: 6pt; background-image: initial; background-attachment: initial; background-origin: initial; background-clip: initial; background-color: white; background-position: initial initial; background-repeat: initial initial;">In the meantime, some “plain speak” is needed.  Potential first-home buyers need to be told that buying your first property is not easy; it involves sacrifice and compromise to your current lifestyle.

<p style="margin-bottom: 6pt; background-image: initial; background-attachment: initial; background-origin: initial; background-clip: initial; background-color: white; background-position: initial initial; background-repeat: initial initial;">To renters (and first-home buyers alike) paying 30% of your income for shelter is not outrageous.
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

Housing affordability in Australia is not as dire as you think

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Greater Dandenong is the feeling the most housing stress in Melbourne as renters and home purchasers struggle with high housing costs across the region, according to the latest Australians for Affordable Housing report.
In Greater Dandenong 21% of households experienced housing stress, as did 19% of residents in Hume and Melbourne local government areas.
In Greater Dandenong 31% of mortgagees and 38% of those in private rentals experienced housing stress.
Residents in the municipalities Bayside and Nilumbik experienced the least amount of housing stress, at only 9%.
“Housing is the single biggest cost of living pressure in Australia. When low-income households spend more than 30% of their income on housing costs they are officially in housing stress. This means they have very little left over to cover other costs like food, transport, bills or money for emergencies,” says AAH spokesman Sarah Toohey.
The report found renters tended to have a harder time than mortgagees with renters experiencing greater stress that mortgagees in every area surveyed.
Click to enlarge
<img src="/images/stories/stress.gif">
Toohey used the report to call for a government focus on cheaper housing.
“Urgent action is needed by both the Victorian and Commonwealth governments, with a proper housing strategy that includes more than releasing land on the city fringe,” she says.
“Premier Ballieu needs to invest in more affordable housing options close to jobs and services to reduce the squeeze on weekly budgets.”
 
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awalsh-7Ub9EypybQ

Greater Dandenong tops list of Melbourne suburbs with most housing stress

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Well, 2011 will be remembered as the year the property market slumped. It didn’t crash like many property pessimists predicted, but it stalled in some areas, dropped a little in others, while prices fell significantly in a few spots.
Ongoing economic uncertainty, the worry of rising interest rates for much of the year, decreasing affordability and political uncertainty were a volatile mix that stalled the property markets.
To see what really happened over the last year here are the latest figures from RP Data:
<table border="1" cellpadding="0" cellspacing="0" width="348"><tbody>
<tr>
<td valign="bottom" width="85">
 
</td>
<td valign="bottom" width="99">
HOUSES
</td>
<td valign="bottom" width="87">
 
</td>
<td valign="bottom" width="100">
UNITS
</td>
<td valign="bottom" width="93">
 
</td>
</tr>
<tr>
<td valign="bottom" width="85">
City
</td>
<td valign="bottom" width="99">
Median Price
</td>
<td valign="bottom" width="87">
Growth last yr
</td>
<td valign="bottom" width="100">
Median Price
</td>
<td valign="bottom" width="93">
Growth last yr
</td>
</tr>
<tr>
<td valign="bottom" width="85">
Sydney
</td>
<td valign="bottom" width="99">
$550,000
</td>
<td valign="bottom" width="87">
-2.3%
</td>
<td valign="bottom" width="100">
$457,000
</td>
<td valign="bottom" width="93">
1.1%
</td>
</tr>
<tr>
<td valign="bottom" width="85">
Melbourne
</td>
<td valign="bottom" width="99">
$483,500
</td>
<td valign="bottom" width="87">
-5.7%
</td>
<td valign="bottom" width="100">
$425,000
</td>
<td valign="bottom" width="93">
-5.7%
</td>
</tr>
<tr>
<td valign="bottom" width="85">
Brisbane
</td>
<td valign="bottom" width="99">
$425,000
</td>
<td valign="bottom" width="87">
-8.8%
</td>
<td valign="bottom" width="100">
$360,000
</td>
<td valign="bottom" width="93">
-2.4%
</td>
</tr>
<tr>
<td valign="bottom" width="85">
Adelaide
</td>
<td valign="bottom" width="99">
$387,000
</td>
<td valign="bottom" width="87">
-4.2%
</td>
<td valign="bottom" width="100">
$315,000
</td>
<td valign="bottom" width="93">
-4.8%
</td>
</tr>
<tr>
<td valign="bottom" width="85">
Perth
</td>
<td valign="bottom" width="99">
$453,000
</td>
<td valign="bottom" width="87">
-4.4%
</td>
<td valign="bottom" width="100">
$390,000
</td>
<td valign="bottom" width="93">
-0.7%
</td>
</tr>
<tr>
<td valign="bottom" width="85">
Darwin
</td>
<td valign="bottom" width="99">
$495,000
</td>
<td valign="bottom" width="87">
-0.9%
</td>
<td valign="bottom" width="100">
$405,000
</td>
<td valign="bottom" width="93">
-0.8%
</td>
</tr>
<tr>
<td valign="bottom" width="85">
Canberra
</td>
<td valign="bottom" width="99">
$537,500
</td>
<td valign="bottom" width="87">
0.8%
</td>
<td valign="bottom" width="100">
$410,050
</td>
<td valign="bottom" width="93">
0.5%
</td>
</tr>
<tr>
<td valign="bottom" width="85">
Hobart
</td>
<td valign="bottom" width="99">
$330,000
</td>
<td valign="bottom" width="87">
NA
</td>
<td valign="bottom" width="100">
$266,000
</td>
<td valign="bottom" width="93">
NA
</td>
</tr>
<tr>
<td valign="bottom" width="85">
Australia
</td>
<td valign="bottom" width="99">
$465,000
</td>
<td valign="bottom" width="87">
-4.5%
</td>
<td valign="bottom" width="100">
$415,000
</td>
<td valign="bottom" width="93">
-1.5%
</td>
</tr>
</tbody></table>
Source: <a href="https://www.rpdata.com.au/">RP Data</a>
The markets are fragmented
What these figures don’t show is how fragmented the markets really are.
Did you know that the median home price in 80% of Sydney suburbs has actually had capital gain of around 1% over 2011? It is only the most expensive suburbs in Sydney, the more affluent areas, which have been the hardest hit and have suffered price declines. In these suburbs prices fell around 3.2% over the year.
And the markets are similar right across Australia. The most expensive homes across the country experienced the biggest capital losses and the lowest priced homes have dropped in value much less.
By the way… there is nothing unusual about this – the lower end of the market has always been less volatile.
What I call “investment grade properties” – good properties in the middle price range (say $450,000 to $950,000), in prime locations and with an element of scarcity are still selling well and holding their values, even though there is clearly less interest from both owner occupiers and investors than there was before.
On the other hand “B” and “C” class properties are not selling well. Some have dropped in value by 10% or more and some can’t be given away. Well, it’s not really as bad as that, but you’d have to give a very steep discount for someone to buy in areas like the Gold Coast.
And all the key indicators suggest the slow down will continue well into the first half of 2012. The number of properties on the market is high, properties are remaining on the market for longer and many buyers are still nervous about making a decision.
2012 – the year ahead 
I’ll cover myself with my first prediction being that most predictions will be wrong. 
Just look at what happened in 2011… 
For much of the year we thought interest rates were going to rise and they’ve fallen. We thought Europe would sort out its financial problems and things got worse. And many people predicted Australia’s property market would crash – and it didn’t! 
Looking forward I think 2012 will be a better year for property – but not by much. 2012 will be another year of crises. But if you think about it, every year has its crises. 
The European Debt Crisis will still dominate over the first few months of 2012. The US economic recovery is likely to slowly continue, but many of its property markets will fall further. China’s booming economy will slow a little and the Australian economy should chug along nicely as strong business investment spending will counter the lower growth in consumer spending and housing activity. 
Interest rates have come down twice over the last two months and it looks like they’ll drop further in 2012. This will increase housing affordability and slowly entice buyers back into the market. 
When the Government tried to stimulate our property markets in previous downturns, it combined rate cuts with first home owners grants (2001 and 2009) and this caused people to rush into the markets. I can’t see a first home owners boost being brought back in 2012. 
My observation is that the recent rate cuts have increased confidence in buyers, but many are still sitting on the sidelines waiting for something else. 
Some are waiting to see how the problems in Europe play out, others are interested to see what happens in our local political scene and yet others want confirmation that property prices won’t fall any further. They don’t want to buy in a falling market. 
In the meantime, many savvy investors are back picking the eyes out of the market. I was interested to read John Gandel, one of Australia’s biggest property investors, is on the look out to buy again. There must be a lesson in that somewhere. 
It is likely that the average home buyer won’t need to see a lot of price growth to regain confidence; they just want to know that home values won’t fall further. Meanwhile they are stashing their cash waiting for someone to ring the bell that the market has bottomed. 
Of course, no one will do that, so I like to remind buyers that they are not buying “the market” but an individual property in the market. 
If they buy well and purchase a good property below it’s intrinsic value, they will be covered, even if the market drops a little further. And when they look back in a few years' time they’ll be pleased they took action while others waited for the “bell to ring”.
Michael Yardney is the director of <a href="https://www.metropole.com.au/">Metropole Property Investment Strategists</a> , a best-selling author and one of Australia's leading experts in wealth creation through property. He also writes the <a href="https://www.propertyupdate.com.au/">Property Investment Update</a> blog.
 
 
 
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myardney-DFoGhGbSJX

The year that property markets slumped

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See-sawing investor appetite for new houses fell sharply in October, according to the latest ABS housing finance figures.
Construction finance to investors decreased 26.2% over October, to be 2.1% lower in trend terms as the total value of loans for the purpose of building new houses decreased by 9%. Demand from investors for construction finance has risen and fallen sharply over the past year, and has been broadly flat since mid-2008.
Owner-occupier construction finance was 2.7% lower in the month.
<img src="/images/stories/absdec12.gif">
Source: ABS
The October decline follows a similar decrease in September taking the value of construction finance 8.9% lower than levels a year earlier, highlighting both the depressed current state of new housing and the poor outlook for 2012.
According to the most recent HIA - JELD-WEN New Home Sales Report, <a href="https://www.propertyobserver.com.au/residential/new-home-sales-recover-modestly-in-october-hia/2011120852759" target="_blank">the total number of new homes (detached and non-detached) sold was down 8% over the three months to October</a>.
For tips for buying your first investment property, <a href="http://propertyobserver.com.au/ebooks/free-ebook-how-to-buy-your-first-investment-property" target="_blank">download Property Observer’s free eBook</a>.
 
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Investor interest in new housing fell 26% in October: ANZ

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Australia's ageing pool of workers need greater flexibility to ensure they can stay in work, a report into senior Australians says, adding that housing needs an "urgent shake-up" to cope with looming demographic changes.

A report released yesterday entitled Realising the economic potential of senior Australians notes that the percentage of Australians aged over 55 is expected to rise to nearly 20% by 2050, up from 16% nowadays.
"While participation rates for people over 55 have risen significantly, barriers still inhibit older workers' participation," the report, written by the Panel on the Economic Potential of Senior Australians, says.
"These barriers directly affect the living standards of Australians, with the cost of not using the skills and experience of older Australians already at an estimated $10.8 billion a year."
"These barriers also directly affect the ability of individuals to contribute, with two million older Australians outside the workforce wanting to work, some because of financial necessity."
But the report - written by National Seniors Australia chair Everald Compton, former deputy Prime Minister Brian Howe, and Professor Gill Lewin - says the country's shift to a knowledge-edge based company, from a manual-based society, leaves Australians better placed to work longer.
"This move away from physically demanding work opens up more opportunities for older workers. It coincides with a looming skills shortage in key industries (mining, construction and services), increasing the opportunity for older workers to retrain for new careers or to backfill in sectors depleted by the movement of more mobile workers," the report says.
It also praises the increase in the retirement age to 67 and the removal of the age limit on superannuation guarantees as developments likely to keep older workers in paid work – although this shift requires support from industry, employers and governments.
The report recommends:
<ul>
<li>Extending flexible work arrangements for people aged 55 and over, allowing this group great time for volunteering and babysitting commitments, for example.</li>
<li>Looking at the affordability of income protection for people over 60.</li>
<li>Appointing a cabinet minister for maximising the potential of the ageing population.</li>
<li>Increasing housing supply by removing stamp duty.</li>
<li>Reviewing planning regulations and removing regulatory impediments to new developments and promote greater mobility.</li>
<li>Reviewing how income payments affect seniors' housing decisions.</li>
<li>Get governments to embed age diversity within workforce.</li>
</ul>
Speaking on the prospect of abolishing stamp duty after the report was released, Treasurer Wayne Swan said he was meeting with state treasurers to discuss state taxes.
"If there are impediments in the tax and transfer system that stop older Australians from contributing to the labour force, we should do something about that," Swan added.
He also called on business to "recruit many of those greying Australians who are looking for a job but have had difficulty getting one."
This article originally appeared on<a href="https://www.smartcompany.com.au/index.php" target="_blank"> SmartCompany</a>.
 
 
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cknowlton-QnEa6ntUYP

Housing needs “urgent shakeup”, and older workers need more flexibility: Report

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On a seasonally adjusted basis, new house starts declined by 2.5% in the September quarter to 22,290 following a fall of 1.6% in the June quarter, according to the latest dwelling commencement figures released by the ABS.
This was the seventh straight quarter that new housing starts have declined, reflecting the current depressed state of new house construction.
The last time new house starts increased was in the December 2009 quarter, when they rose to just under 29,900 new starts.
In raw terms, the largest rises in private sector house commencements were experienced in the Northern Territory (11.4%), Queensland (10.8%) and Western Australia (5.3%), while the largest falls occurred in Tasmania (-17.8%), South Australia (-14.9%) and the Australian Capital Territory (-12.1%).
The more volatile other residential building (flats, units, attached townhouses, villas and terrace houses, etc) declined by 12.2% in the September quarter to 12,198 properties following a fall of 6.1% in the June quarter.
Overall, the construction of new housing fell by 6.2% in the September quarter.
In raw terms, the total number of dwelling units commenced fell 3.3% in the September quarter to 37,000.
Queensland (+16.4%) and the Northern Territory (+30.7%) were the only states or territories to experience an increase in dwelling unit commencements this quarter.
The largest decreases were seen in Tasmania (-18.5) and the Australian Capital Territory (-9.5%)
 
 
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