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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The next round of the European crisis will involve banks. In Australia, suddenly what banks pay for deposits will become a major issue. Having been forced to cut their mortgage interests rates, the Australian banks will be tempted to recover that money via lower term deposits and other deposit rates – in other words, to take the money from retirees.
But there is a danger in this. Australian term deposits are cheaper than borrowing on the overseas wholesale market. Moreover, there are clear dangers that the wholesale market could be greatly diminished by the European manoeuvres. The ratings agencies have already downgraded the big Australian banks for their dependence on wholesale borrowing. Losing market share in deposits carries risk.
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And to underline this global banking risk, foreign investors are rushing into Australian government bonds at yields below 4 per cent. They are snubbing Australian banks, which are paying in the vicinity of 50 per cent more for their money than government bonds. The government will have to consider reinstating its deposit guarantee.
At the moment, there is a minimum of trust among European banks because everyone knows everyone is hiding losses – it’s a question of who is broke and who is not. As trust breaks down, so does confidence in European banks. Of course, if the politicians can convince markets to pay more for Italian and Spanish paper, then those paper bank losses will decline.
Nevertheless, any further deterioration in Italian and Spanish bonds (and perhaps French) during 2012 would severely damage the wholesale banking market, possibly at a time when Australian banks have maturing overseas wholesale loans.
Australian banks have already slashed deposit interest rates, and if they cut them again you could see an exodus of self-managed funds and other money, which will seek better rates from corporate securities, bank hybrids or even bank shares.
At the weekend, the most aggressive bank in leading deposit rates down was ANZ – the bank that broke ranks in cutting mortgage rates. This morning it has narrowed the gap, although its term deposit rates in most periods are still a little below the other big banks, except in five-year paper where ANZ offers 5.8 per cent – the same as NAB.
However, in this five-year sector Westpac has suddenly taken the lead and has lifted its offering from 5.8 per cent about two weeks ago to 6 per cent, compared to ANZ's 5.8 per cent, CBA’s 5.9 per cent (over $50,00) and NAB's 5.8 per cent.
It is fascinating that while the Westpac economics department has been the most vocal in forecasting lower rates, when it comes to term deposits the bank's special rate for products up to five years' duration either matches or beats its opponents.
CBA and NAB match Westpac in most (but not all) rates but if customers with larger sums seek a better rate, they can usually negotiate it. This is a game that will unfold as the day and week moves on.
This article originally appeared on <a href="https://www.businessspectator.com.au/" target="_blank">Business Spectator</a>.
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rgottliebsen-VjLFh9nsD4

The big four's risky rates play: Robert Gottliebsen

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In 1963 the BBC interviewed the boss of American Express.  The interview was focused on a new concept taking root – the evolution of our love of debt – the credit card. 
“Well the important thing of course is to make sure that the person who has a card is somebody who is credit-worthy,” said the boss of American Express, whose sole aim it was to introduce the idea that “buy now, pay now” was becoming an outdated mode of transaction. 
As the BBC interviewer grapples with this new invention, his next question highlights perfectly how far we’ve evolved: 
“Do you have to use this exclusively yourself or could you, if you were unwise enough, give it to your wife?”
 
Not an altogether silly proposition (aside, of course, from where the question was projected). After all, it was unwise lending that got us into this global dilemma in the first place, and his reply sounds as innocent and safe as a reassurance of “sub-prime” lending practices would have done pre GFC: 
“You can certainly get a card for your wife. We’d be very happy to supply her with one,”  he quips. 
We’ve come a long way since and seen a total transformation in the way banks conduct business.  They are no longer the “middle men”, collecting disposable cash and passing it on to big business for the purpose of production and investment.  Banks have become “financialised”, with the major part of their profit coming increasingly through financial channels.  Like it or not, we’ve been swept along – both willingly and unwillingly – in the process. 
Back in the ‘60s when the concept of our modern version of “free credit” started, it felt as if we were moving into a position of personal financial control.  However due to “unwise” lending practices and the resulting 2008 fallout, we’re now in a position where – forced onto the investment ladder – we feel anything but in control.  To give an example of how upside down the system has become, Sociologist <a href="https://www.lsa.umich.edu/soc/people/faculty/ci.krippnergretar_ci.detail">Greta Krippner</a> recently highlighted in a BBC radio 4 interview “Analysis Radical Economics” that large motor companies – such as General Motors, Ford, and Chrysler – all of which have their own financial departments – potentially make more money selling loans to buy the cars than they do from the cars themselves!
In other words, the loan is the new source of profit – and often an unregulated source at that. With all the wheeling and dealing that progressively reached such peaks within in the UK, for example, when household indebtedness exceeded 160% in relation to disposable income pre-GFC, is it any wonder we’re looking at such a monumental mess? 
Australia has weathered the after-effects from unwise lending practices relatively well; however, the system we now find ourselves in whittles down to our four major banks holding us to ransom.  This week we had to wait almost three days before getting the welcome news (at least for mortgage holders and small business owners) that the big four would pass on the full RBA rate cut.  It was spruiked that the decision to drop was down to “people power” largely pushed to the fore by forthright media campaigns. Therefore, on the heel of this came a warning from ANZ that it would no longer bow to the perceived external pressure of “community power”.  In effect, they’re now big enough (and powerful enough) to sing their own tune and ignore future RBA decisions altogether. 
"We are not going to play this game of having an RBA rate move and then people asking 'who is going to move by what amount" ANZ chairman Philip Chronican told <a href="https://www.news.com.au/news/anz-split-rewrites-rate-rules/story-e6frfkp0-1226217830786">Business Daily.</a> 
No doubt the others will follow suit. 
Whether the outcome of this increasing split between the RBA and banking system is good for the consumer or the herald of an era during which there is increased interest rate volatility is unknown.  But it’s guaranteed to do nothing to increase consumer confidence, which is the one ingredient Australia needs if we’re going to start moving away from the economic doldrums and assist struggling sectors such as retail, small business and home buyers. 
 
<hr class="system-pagebreak">
 
Investors make up roughly 30% of our real estate market – they are the buyers who will only step in when confidence – like a pseudo Jiminy Cricket – dictates at least the perception of solid growth.  Without this, they’ll simply invest their hard-earned cash elsewhere (these days, usually in the form of a term deposit), which does little to assist business and growth.  They – along with first-home buyers who make up roughly 17% of the market, are the reason overall turnover has been at its lowest ebb since 2008. No one wants to purchase into a market they anticipate will drop. 
While Wayne Swan is busy assuring us all is OK because now he’s abolished mortgage exit fees we can just play “switch-a-roo” with our lenders and become “powerful” consumers, it’s worth pointing out that back in February, Treasury documents revealed the unintended consequences likely to occur once the fees were scrapped.  This included an increase in other fees including interest rates to recoup lost revenue.  It also stripped smaller lenders of their competitiveness, and the big banks have quickly found other ways to hit consumer pockets, such as hefty establishment fees.  Therefore, at best, Swan’s words only instigated a comforting and temporary placebo effect that at least something was being done. 
We can become like the “Occupy” protestors and stage a demonstration against the banking system that has us well and truly over a barrel, however most have little time to spend walking the streets. With unemployment still low, we’re too busy juggling our financial assets to step outside the daily rat race and camp out in Treasury Gardens.  Instead we have to develop a new psychology of self-regulation – and wisdom – when it comes to future investments and property purchases. We can’t control external matters, but we can control how we react to them. 
Building wealth from debt is an addictive occupation, once the foothold on the ladder is secure, equity enables the pyramid to grow and the ”leveraging tree” begins. However, managing debt and investment involves a degree of self-restraint in order to service the repayments – something our 21st century mentality rebels against.
Indeed – market research shows the only way our younger generation now feel able to purchase is by means of a “gifted” deposit from family or friends (usually borrowing against equity on family assets).  It’s widely known that roughly 70% of Australian’s own their own homes, however the larger proportion of this (80%) – are an older generation at the high end of the income stream.  Of Gen Ys, ABS statistical data shows 57% rent and 16% are still living at home.  Therefore gifting or not, there’s clearly an increasing number falling through the net. 
A glance at the fall out across the Atlantic should be warning enough for those who can only see a resolution to this problem in terms of a national housing crash of some 40 to 50% – it’s not a pretty picture.  Instead the solution needs to come in terms of education and self-regulation, switching Gen Ys’ mentality towards the growing trend of saving rather than spending. The practice amongst mature households has already stated with research from <a title="RateCity" target="_blank" href="https://www.ratecity.com.au/">RateCity</a> revealing an unparalleled increase in deposits (particularly from businesses, which have accounted for an extra $120 billion over the past three years.) 
The reason this is so very important is because it’s becoming increasingly clear that we really have no idea what the banks will do to rates next year or what the world will throw at our feet as Europe and the US struggle with increasing debt and mismanagement.  Therefore, my one piece of advice for anyone purchasing in 2012 is: “invest within your means.  Don’t get carried away taking advantage of lower rates and jumping into various advertised schemes – such as house-and-land packages that are designed to make property look like a Harvey Norman interest-free sale.  Housing is a dream we can all achieve if we take a considered long-term approach to saving, investing, and insuring our debt does not exceed our ability to manage the repayments. 
House prices are no going to drop; neither are we facing a financial meltdown on a par with the US or Ireland.  Due to a continuing shortage of feasibly liveable accommodation close to transport and jobs (another issue that urgently needs to be addressed by state governments), low unemployment, an increasing population and an overall good economic position, not to mention the preference Australian’s have towards home ownership, we’re currently well insulated from disaster.
However, it doesn’t mean the average buyer is well insulated if they make poor choices.  It was reported only a couple of months ago that home owners in Victoria alone, had lost <a href="https://www.heraldsun.com.au/money/home-owners-300-blow/story-e6frfh5f-1226162415434">over $290 million</a> over the past three years (to July 2011) selling their properties for less than the contract price. Building wealth through property will only work if you invest for the right demographic, in those “blue-chip” areas which have a proven history of consistent solid demand.  If you’re unsure of the terrain ahead seek qualified independent advice, but above all, property is not an area where you want to learn from past failures.  It’s best to learn from the mistakes of others – and by the sound of it, over the past few years, there have been plenty of examples.
Catherine Cashmore is senior buyer advocate for <a href="https://www.elitebuyeradvocates.com.au/" target="_blank">Elite Buyer Advocates</a>. With extensive experience in all matters regarding real estate, Elite Buyer Advocates purchases and negotiates more than $100 million worth of property each year for its clients.
 
 
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catherinecashmore-6LXia3pPQj

A house of (credit) cards

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Barton MP Robert McClelland has been appointed the new Minister for Housing and Homelessness in the Gillard government.
The combined postings were previously held by the Federal Minister for Social Housing and Homelessness, Senator Mark Arbib, and Jenny Macklin as Minister for Families, Housing, Community Services and Indigenous Affairs.
According to lobby group Australians for Affordable Housing campaign manager Sarah Toohey, the “inclusion of a single housing minister in the federal cabinet, responsible for all Commonwealth housing policies and programs, is something we have been advocating for and we’re hopeful that this demonstrates that the Gillard government is making housing affordability in Australia one of its top priorities”.
The Housing Industry Association has welcomed the appointment.
“The Gillard government has today noted the challenge that housing affordability (or the lack thereof) presents and has highlighted its commitment to focussing on this issue,” says HIA managing director Shane Goodwin.
“Creating a ministry which includes ‘under one roof’ all facets of housing supply across the spectrum of public and social housing, together with private owner-occupier and rental stock is a crucial step towards delivering a successful package of housing supply policy reform and implementation is achieved,” Goodwin says.
 
 
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jchancellor-FAypfDUnLy

Robert McClelland appointed Minister for Housing and Homelessness

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The ABS housing finance data released today has once again reaffirmed what I have argued here for months now: Australia's housing market is stabilising, and would likely have commenced a gradual recovery in the absence of interest rate accommodation from our recently appointed major bank insurer, aka the RBA.
Today the ABS reports that in the month of October – before the November or December rate cuts, which have been passed on to borrowers mostly unperturbed – the number of new home loans approved to people buying existing dwellings had once again risen by a very healthy 0.9% month-on-month.
Indeed, the number of new home loans approved by Australian lenders for purchases in October – not “refinancings” – was higher than any other month since way back in 2009. You can see the very steady ramp-up in seasonally adjusted new home loan approvals in my chart below.
<img src="https://www.urban.com.au/images/stories/december12.gif">
Now for some reason analysts get confused when interpreting this housing finance data. In respect of the future performance of the housing market, we don't care much for purchases of newly developed homes, which are a small fraction (circa 5%) of the total, refinancings of existing loans, the share of owner-occupiers versus buyers, nor the 'value' of loans (where the latter is affected by a range of things including the value of the homes being purchased, the types of buyers in the market – e.g., first timers acquiring cheaper homes – and the policies of lenders).
The single best proxy for the demand-side of the housing market is the seasonally adjusted number of new loans approved for the purchase of existing homes, which is about 20 times the size of the “new dwellings” series.
Since April 2011, this benchmark has been growing healthily, averaging a stonking 2.2% increase each month. Let me reiterate, this was before two consecutive RBA rate cuts that have been passed on to borrowers.
We got the first glimpse of the impact the RBA's very generous policy reversal has had on the housing market via <a href="https://www.propertyobserver.com.au/mortgages/afg-mortgage-approvals-at-33-month-high-as-investors-return-to-the-market" target="_blank">AFG's data for November</a> (AFG is Australia's largest mortgage broker). This series, which leads the ABS numbers, printed at its highest level since March 2009, with investors hitting their biggest relative share in history.
Expect much more of this in 2012 as Australians seek to take advantage of sub-6% fixed-rate home loans and discounted variable rates only slightly above this level.
As I have noted too many times to count, our incredibly interest rate sensitive housing sector (which is much more so than it has been in decades past) will likely prove a very powerful hedge against adversity in the event that the RBA slashes rates. In contrast to other countries, almost all of Australia's residential borrowers are on fully adjustable-rate mortgages that typically price off the RBA's cash rate.
Why? Because circa 60% of bank funding comes from short-term retail deposits, which in turn price off the short-end of the yield curve largely controlled by the RBA. But I will leave bank funding costs for a column on another day!
Christopher Joye is a leading financial economist and a director of Rismark International and Yellow Brick Road Funds Management. The above article is not investment advice.
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chrisjoye-JYhJsTrNRC

 Housing market recovered strongly in October 

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First-time buyers helped lift mortgage lending in October, according to housing finance figures released today by the ABS.
It was the fourth straight month of increases, but the pace of growth has slowed.
Nationally, the total number of owner-occupier housing finance commitments increased by 0.7% on a seasonally adjusted basis, with lenders agreeing to finance 51,981 mortgages.
The bright spot in the figures was the return of first-home buyers, which increased as a percentage of the market from 16.4% to 17.9%, with an average loan size of $280,000.
Some first-time buyers make their first purchase an investment property.
Mortgage lending increased in NSW (total number of mortgages up 1.3%), Western Australia (1.3%) and the Northern Territory (4.3%) but declined in all the other states and territories, led by the ACT (down 4.2%).
The number of mortgage commitments declined by 1.6% in both Queensland and Victoria and fell by 1.3% in South Australia.
In value terms and excluding alterations and additions, the market declined 2.5% in October to $20.46 billion, with owner-occupier mortgages decreasing by 1.2% to $14.4 billion and fixed loans for investment purposes down 5.5% over the month to just over $6 billion.
The number of loans for the construction of new houses fell by 1.7% to 4,646.
Banks increased their mortgage lending to owner-occupiers by 0.7% in October while non-bank lending decreased by 0.2%.
The weak October figures follow a 2.2% seasonally adjusted increase in September to 51,821 mortgages.
The overall 0.7% growth in October was “a touch above” expectations of Westpac and market forecasts.
Westpac described the data as mixed with new lending (excluding refinancing) stronger than the headline figure, rising 2.0%
However, new lending for the year to date is still down, declining by 1.8%.
“By state, there was a divide for the month. Victoria and Queensland weakened, both down by 1.6%. 
“The Victorian market is being weighed down by a sizeable increase of supply coming onto the market
“The Queensland market has weakened during 2011, with finance to owner-occupiers down by -11% for the year to date, the weakest of the states. “These figures provide a snap shot of housing finance just ahead of the RBA's rate cuts. The November and December rate cuts, and our expectation that the RBA will lower rates by a further 50bps, will provide some support to the sector. However, upside will be capped by ongoing headwinds facing the sector.”
The Housing Industry Association (HIA) also described the October figures as a “mixed bag” and says there is a clear need for policy reforms on the new home building front.
“The update for October 2011 showed a weaker result for new home lending for both owner occupiers and investors, together with further modest improvement in aggregate lending for first time and trade-up owner occupiers,” said HIA chief economist, Harley Dale. “New home lending appears to have largely flattened out through 2011, but at levels below the decade average,” says Dale.
A bounce in mortgage lending is expected in November with figures released by mortgage broker AFG (six weeks ahead of the ABS) revealing loan approvals<a target="_blank" href="/news"> surging to a 33-month high following the November rate cut</a>, led by a jump in loans taken out by property investors.
AFG recorded an 18.4% increase in mortgages processed by its 2,000 brokers with property investors accounting for almost two out of every five mortgages sold in November (38.4%) – an all-time record for the AFG Mortgage Index.
For advice on buying your first investment property, <a target="_blank" href="http://propertyobserver.com.au/ebooks/free-ebook-how-to-buy-your-first-investment-property">download our free eBook.</a>
 
 
 
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lschlesinger-FZcF9M3vE6

First-time buyers lift October mortgage lending figures: ABS

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<table border="1" cellspacing="0" cellpadding="0" width="337"><tbody>
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<td width="64" nowrap valign="bottom">
Postcode
</td>
<td width="124" nowrap valign="bottom">
Suburb
</td>
<td width="149" nowrap valign="bottom">
Indicative gross rental yield for units
</td>
</tr>
<tr>
<td width="64" nowrap valign="bottom">
2158
</td>
<td width="124" nowrap valign="bottom">
<a target="_blank" href="/news">DURAL</a>
</td>
<td width="149" nowrap valign="bottom">
7.1%
</td>
</tr>
<tr>
<td width="64" nowrap valign="bottom">
2011
</td>
<td width="124" nowrap valign="bottom">
<a target="_blank" href="/news">WOOLLOOMOOLOO</a>
</td>
<td width="149" nowrap valign="bottom">
6.5%
</td>
</tr>
<tr>
<td width="64" nowrap valign="bottom">
2015
</td>
<td width="124" nowrap valign="bottom">
<a target="_blank" href="/news">ALEXANDRIA</a>
</td>
<td width="149" nowrap valign="bottom">
6.4%
</td>
</tr>
<tr>
<td width="64" nowrap valign="bottom">
2000
</td>
<td width="124" nowrap valign="bottom">
<a target="_blank" href="/news">SYDNEY</a>
</td>
<td width="149" nowrap valign="bottom">
6.2%
</td>
</tr>
<tr>
<td width="64" nowrap valign="bottom">
2007
</td>
<td width="124" nowrap valign="bottom">
<a target="_blank" href="/news">ULTIMO</a>
</td>
<td width="149" nowrap valign="bottom">
6.1%
</td>
</tr>
<tr>
<td width="64" nowrap valign="bottom">
2008
</td>
<td width="124" nowrap valign="bottom">
<a target="_blank" href="/news">DARLINGTON</a>
</td>
<td width="149" nowrap valign="bottom">
6%
</td>
</tr>
<tr>
<td width="64" nowrap valign="bottom">
2153
</td>
<td width="124" nowrap valign="bottom">
<a target="_blank" href="/news">BELLA VISTA</a>
</td>
<td width="149" nowrap valign="bottom">
5.7%
</td>
</tr>
<tr>
<td width="64" nowrap valign="bottom">
2008
</td>
<td width="124" nowrap valign="bottom">
<a target="_blank" href="/news">CHIPPENDALE</a>
</td>
<td width="149" nowrap valign="bottom">
5.6%
</td>
</tr>
<tr>
<td width="64" nowrap valign="bottom">
2140
</td>
<td width="124" nowrap valign="bottom">
<a target="_blank" href="/news">HOMEBUSH</a>
</td>
<td width="149" nowrap valign="bottom">
5.6%
</td>
</tr>
<tr>
<td width="64" nowrap valign="bottom">
2000
</td>
<td width="124" nowrap valign="bottom">
<a target="_blank" href="/news">HAYMARKET</a>
</td>
<td width="149" nowrap valign="bottom">
5.6%
</td>
</tr>
</tbody></table>
 Source: RP Data
 
 
 
 
 
 
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Top 10 Sydney suburbs for unit rents: RP Data

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{yoogallery src=[images/stories/november21garner]}
A Fitzroy North house that has links to Helen Garner’s late 1970s novel Monkey Grip sold at weekend auction for $3,185,000.
More than $2.85 million had been tipped by its Nelson Alexander selling agent Arch Staver.
It ranks as the suburb's third residential sale above $3 million.
Located opposite Edwardes Reserve parklands, the restored early 1900s residence contains elements of Victorian, Art Nouveau and Federation design features.
“Helen Garner wrote the iconic Australian novel Monkey Grip while abiding under this roof,” Staver says.
The style of the Scotchmer Street property is best described as "post-Victorian eclectic", according to the vendor, who bought it in 1972 and rented it out to Garner in the mid-1970s.
<a target="_blank" href="https://www.propertyobserver.com.au/residential/fitzroy-north-house-featured-in-late-70s-helen-garner-novel-monkey-grip-listed-for-sale/2011112152450">The renovated and extended six-bedroom house</a> showcases a mixture of Victorian, Art Nouveau and Federation period features, including a tessellated tile veranda, leadlight windows, ornate lacework, archways and ceiling cornices.
“The original owner was a pattern maker, and his fondness for artistic flourish is immediately evident,” Staver says.
“More recent occupation testifies to the creative atmosphere, with musicians and writers among the long-term residents.”
Garner’s seminal Australian novel Monkey Grip starts with the line, "In the old brown house on the corner, a mile from the middle of the city, we ate bacon every morning of our lives."
It referred to a Victorian residence at 27 Falconer Street.
"It took me a couple of years to write that book, and I moved house a lot back in those days," Garner recently said.
Garner was credited by Good Weekend writer David Laser as being the strongest post-1960s feminist voice in Australian writing following her account of communal living, drug use and single mothers caught in the chemical reactions of their own love affairs in inner-urban Melbourne.
Garner may be famous in Melbourne for her portrayal of Fitzroy, but her most recently reported home was in Flemington in the inner west.
 
 
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Fitzroy North house where Helen Garner wrote '70s novel Monkey Grip sells in suburb's third residential sale above $3 million

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The weekend auction of 52 Berry Street, East Melbourne, was somewhat lacklustre, says Mark Armstrong of<a target="_blank" href="https://www.propertytycoon.com.au/"> Property Tycoon. </a>
With only two bids, the property was passed in for $2.91 million and sold in post-auction negotiation for $3.1 million.
"Given the last sale in the street sold for $3.3 million many tippers thought this price was light on, with the average tip being $35,000 above the sale price," says Armstrong.
Before the auction Armstrong noted its excellent position and had predicted competition would be strong for the property.
"Locations do not get much better than 52 Berry Street, East Melbourne, as it is on the doorstep of the MCG, Bridge Road Richmond and a brief walk to the city," Armstrong said before the auction. " The property has open entertaining spaces on the ground floor in addition to three bedrooms and a large study on the upper floors. It is well suited to the executive couple with no children or downsizes who are looking for a lifestyle change."
52 Berry Street, East Melbourne, VIC, 3002
<img src="/images/stories/berryst.jpg">
Sale price: $3.1 million
Agent quote: $3 million plus
% above agent quote: 3.23%
Bidders: Two
Last sold: November 1997 for $920,000 
Average tip: $3,135,821
% Correct tips: 8.24%
<a target="_blank" href="https://www.propertytycoon.com.au/">Property Tycoon</a> allows punters to guess auction results with no outlay.
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East Melbourne $3.1 million auction tipping result

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Sydney’s 50.5% weekend clearance rate was one of its weakest auction weekends of the year.
It reflected the traditional end-of-year focus turning buyers’ attention from houses to Christmas presents.
There are 474 auctions scheduled for this Saturday, according to Australian Property Monitors.
Even closer to Christmas a twilight auction has been scheduled for December 21 of a two-bedroom Federation semi in View Street, Annandale.
"At this stage we're still proceeding to auction," says Callagher agent James Burke.
The Real Estate Institute of Victoria reported a 55% success rate, compared with 53% last weekend.
Next weekend the REIV expects 615 auctions.
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Sydney auction clearance rate falls as year winds down, but Melbourne's jumps

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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.
 
The final report by the Productivity Commission into the retailing sector has recommended easing planning and zoning requirements to increase the supply of retail space. 
The commission believes this is the best way to redress the imbalance of power held by shopping centre landlords over smaller retailers. 
The newly formed Retail Council of Australia has been tasked with implementing the commision’s recommendation that state, territory and local governments “broaden business zoning and significantly reduce prescriptive planning requirements to allow the location of all retail formats in existing business zones to ensure that competition is not needlessly restricted”. 
The council must also implement the objectives of the National Retail Tenancy Working Group set up following the 2008 review, including the harmonisation of retail tenancy leases across jurisdictions and developing a common terms framework to be used nationally in reference to retail tenancy leases and the simple meaning of these terms. 
Russell Zimmerman, executive director of the Australian Retailers Association, says the peak body will work alongside the Retail Council in implementing these recommendations:
“Retailers have faced poor trading conditions for the last eighteen months as well as soaring rents and costs. The ARA intends to work as part of the Retail Council of Australia to balance the power between retailers and their landlords through addressing planning and zoning restrictions as well as working to harmonise and nationalise leasing legislation as quickly as possible.”
In its 563-page report, the commission says planning and zoning constraints appeareto be “the root cause of many of the concerns in the retail tenancy market”.
“Simply put, occupancy rates are extremely high in shopping centres due to strong demand for retail space in the face of constrained supply. 
“This places smaller retailers — who do not have the bargaining power of anchor tenants or chain specialty stores — in a very tough bargaining situation. 
“While it is possible for these retailers to ‘vote with their feet’ and move to shopping strips or other locations, the alternative sites are not always commercially attractive.” 
According to the report, planning and zoning controls have had “some adverse impact on the efficient operation of the retail tenancy market by increasing retail centre development prices to a level higher than they would be otherwise [and] reducing the level of localised competition between shopping centre landlords”. 
The report acknowledges the “large gap between rents of anchor tenants and smaller specialty retailers in shopping centres” but also accepts explanations from the likes of Westfield and Mirvac of “the importance of anchor tenants to the success of a shopping centre development”. 
According to the commission there is scope to improving the retail tenancy market by “removing unnecessary restrictions on competition and constraints on the supply and location of retail space through reforms to the planning and zoning regulations”. 
Implementing these reforms, it says, “would potentially increase competition between shopping centre landlords, and reduce the bargaining power of landlords vis-à-vis their tenants, by improving tenants’ ability to relocate close by and preserve their businesses after lease expiry”. 
The 563 page report highlights the growing dominance of shopping centres in the make-up of the retail market. 
“Current planning arrangements have produced 45 million square metres of retail space in Australia which over time is increasingly distributed towards shopping centres. 
“While most retailing still occurs outside of shopping centres, centres represent a growing share of the total market. The contribution of shopping centres to total retail space increased from 28% in the early 1990s to 38% in 2005-06.”
The commission highlighted the following as the key tenancy concerns raised by retailers 
<ul>
<li>Large gap between rents of anchor tenants and smaller specialty retailers in shopping centres.</li>
<li>Significant differences in retail rents in Australia compared to the United States.</li>
<li>Reporting of turnover data in shopping centres is used to set rents at ‘excessive’ levels.</li>
<li>Shop fit-out requirements, particularly the inability of retailers to negotiate competitive quotes for the work undertaken.</li>
<li>Standard lease terms (a provision incorporated in most state and territory legislation in a bid to improve security of tenure for tenants), that are normally of five years duration, do not provide sufficient security and are insufficient to amortise capital costs.</li>
<li>Limited negotiating power of retail tenants in shopping centres at the time of renegotiating a lease.</li>
<li>Landlords exploiting their superior bargaining power when a lease expires by seeking ‘excessive’ rent increases.</li>
<li>Retailers’ lack of security of tenure during ‘lease hold over’ periods.</li>
<li>Lack of publicly available information relating to shopping centre rents.</li>
</ul>
Photograph by Sherwin Huang
 
<ul></ul>
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