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 Goulburn Valley Hotel, which this weekend entertained punters with Bon Jovi and Pink tribute bands, has sold under the hammer for $6.6 million at auction in Melbourne.
The hotel has annual income of $472,849, reflecting a yield of 7.16%.
It includes a long-term lease with options expiring 2035.
It was sold on behalf of H. MacKinnon and K. Sutherland of Bent and Cougle, receivers and managers of Zurcus Hotel-Motel, who were appointed in October.
The property was marketed by Scott Callow from CBRE, Terry Board from TJ Board, Rocky Gagliardi from Kevin Hicks Real Estate Shepparton and Numurkah and Billy Holderhead from Burgess Rawson.
The hotel, located at 221-233 High Street in Shepparton and about two hours north of Melbourne, was built in 1928.
It stands on a 7,083-square-metre site and features a bistro, a piano bar with seating for 80 people, 40 gaming machines and a licence for 2,032 patrons.
The hotel is located close to both Coles and Woolworths.
It was sold as part of a Burgess Rawson portfolio auction held at Crown Casino in Melbourne on December 7.
The Goulburn Valley Hotel won the Australian Hotels Association Victoria Award for Best Re-Developed Hotel in in 2008 and the AHA National Awards for Best Re-Developed Hotel in Australia in 2009.
 
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Shepparton's Goulburn Valley Hotel sells for $6.6 million

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This year has been a year some in the property market – chiefly sellers and some agents – would possibly rather forget. For buyers it’s been a little better, when there’s been a reasonable supply of good stock. But buyers’ enthusiasm has been constrained by nervousness about economic events unfolding beyond our shores. So while they’ve been out there looking, and while in many cases they’ve been keen to buy, they haven’t wanted to pay too much – certainly not as much as what many sellers are demanding. For many sellers it’s not been a happy result – and some of them will be still on the market with their now stale offerings in the new year.
Read on for our season-by-season account of how the year unfolded.
Late summer
After 2010 finished in a state we described as “balanced and healthy”, 2011 started with a bit of warmth, even moving into “hot” for the $1 million market. On the last weekend in February, clearance rates for the auctions we attended were up at 74% and Bidderman number of bidders per auction) was at two.
But a flush of new stock slated to come on to the market in March and April would be the test of whether the warmth we saw in the last weekend of summer represented an underlying hotting up or a temporary New Year afterglow.
The story was different with the $3 million-plus market, which was dead as a doornail with very few homes changing hands. Geographically too, the trend at the top end of the market reversed – with bayside performing a lot better than the inner east (in fact Brighton townhouses at the $3 million level were almost walking out the door).
Autumn
The New Year’s afterglow had indeed faded by March, with buyers increasingly nervous about world events, the stock market, the government – the whole shebang. Coinciding with this buyer nervousness was a flood of new stock coming onto the market as would-be sellers also nervous about the future decided to try and sell quickly.
The surge in stock was not taken up by the market and consequently we saw declining auction clearance rates and bidder numbers, and a market groaning under the weight of stock numbers. Not only was new stock coming on that would previously have been gobbled up, but it was having to compete with an increasing backlog of pass-ins from previous weeks. This compounding rate of stock build meant price only had one way to go – and that was down. It wasn’t quite a price free fall, however, as most sellers, including those at the $3 million-plus level, had the resources to ride out what they thought was just a blip of negativity.
Red Zone - Bidders under 1.5 - Falling Prices
 <img src="/images/stories/maldec12.gif">
Easter
From around Easter the market had the first of two short periods of 2011 price spiking (September was the other). Those sellers who had the good luck or good management to be in the market at this time saw some good results – especially those with sensibly priced A-grade properties.
May 21st was probably the high point for sellers, with the clearance rate a whopping 84% on the 37 auctions we attended and Bidderman of over 2. It was the 2011 weekend to be selling.
Winter
However, the late autumn cheer turned out to be nothing more than a brief flare of optimism before we went into a grinding winter with little activity as the supply of good quality stock dried up, and buyers stayed home uninspired by what was on offer. It was not so much a negative as a boring market.
Prices flat-lined and even fell on lower-quality homes. The exception was the rare occasion when a quality home hit the market, but overall the market was off by as much as 10% from the last peak in April 2010.
The unluckiest sellers this year were those who went to auction on August 6, the day after the share market plunged by more than 4% on fears the global financial crisis was re-emerging. Just three of the 25 auctions we covered sold under the hammer – that’s 12% – though by the end of the day that figure had gone up to 55%.
After that weekend of panic, the rest of winter wasn’t quite the disaster that some had feared. It was more a “nothing” market, with little good stock on offer, and most auctions seemed a tug-of-war rather than a race – even when there was solid support from buyers. Vendors refused to budge on price, and buyers weren’t prepared to pay what they saw as inflated asking prices – and the result, more often than not, was a stalemate. 
Red Zone - Poor Price Matching - Falling Prices
<img src="/images/stories/maldec122.gif">
Early spring
Vendors in early spring saw a reprieve from the doom and gloom of winter, with the second of the year’s upwards price spikes. The $3 million-plus market did particularly well. On August 27 we reported that 11 homes had sold for a total of $55 million in one week.  Clearance rates were back up over 60%. The heat stayed for most of the month of September for the $3 million-plus market.
Why did this happen? It was like April – it was about buyers looking into the future and seeing not a lot of good stock coming on. The supply and price equation showed that demand was there when conditions were right – and September proved it.
But by mid-September we were back in the ‘two speed market’. This division between over-priced lower grade properties and good quality well priced properties had been going on all year, but it became more entrenched as the year went on and buyers flocked to A-grade auctions and stayed away in droves from the rest.
At the lower end it was a vicious circle of low bidder demand resulting in poor results, making sellers reluctant to put their houses on the market. Which meant little in the way of good stock around, so buyers already feeling cautious about the economy anyway weren’t bothering to go out there and bid on the little that was on offer.
Meanwhile, at that upper level, where buyers weren’t so concerned about the economy, they were snapping up whatever good quality stock was coming on to the market. All you need is couple of bidders at this level to push the price up, and even at this point we were seeing auctions with three or more.
However the up spike was short-lived. By the end of September the heat had dissipated as opportunistic sellers flooded their properties onto the market. Within a fortnight most of the good news for sellers was over. And, as it turned out, that was it for sellers in terms of good news in 2011. For buyers though, the good news has rolled on for the rest of the year with a great combination of falling prices and increased choice.
Late spring
With the AFL season ending a week later than usual, the spotlight was on October 22 as the day of culmination for many auction campaigns and the biggest Super Saturday for 2011. In the $1 million-plus market in the inner east and bayside, 150 auctions were slated, three times as many as the previous week, and twice as many as we’d seen on any weekend since autumn.
But it was a day of pouring rain and frustrated hopes for many sellers, with a clearance rate of just 43% on the 46 auctions we attended. And many of the properties that passed in on that hopeful day sat on the market for weeks to come. Three weeks after Super Saturday our survey showed that a third of those properties still had not sold.
Even so, the market was not exactly on its knees. Yes, prices were continuing to fall and in some cases falling quite substantially. But when vendors were prepared to fall in with the market, there were bidders. In fact, if choice and falling prices are your definition of a good buyers’ market, this was an ideal buyers’ market.
2011 - Falling Prices 
<img src="/images/stories/maldec123.gif">
What does this mean for 2012?
There is a lot talk going on about the market being overpriced and the bubble bursting. But the fact is the bubble has already well and truly burst. Prices right now appear to be tumbling as much as they did in the GFC. Even on some good homes they are down 5% to 10% and as much as 20% since our last highwater mark (April 2010) on the weaker homes.
But markets can turn quickly. To recap on recent history, we saw this kind of price discounting through the GFC in 2008 – although, please the GFC was heavier than 2011. But we also saw prices climbing back up the next year, with a mini-boom occurring up until Anzac Day 2010. During that period some prices on some homes rose by as much as 30%. Our graphic representation to the right shows how prices have moved in the past couple of years.
And while we have seen big price drops in 2011 (on all but the best of the best), there is not the panic we saw three years ago. The market appears to be accepting these ups and downs as a normal gyration and these gyrations may well become bigger and more regular in 2012 as we all become more “fully informed” through media saturation.
Our best bit of advice for 2012: The market is two-faced:
Look at the Bidderman stats over the last three weeks. Two weeks ago we reported 27 bidders on five homes and 14 bidders combined on the other 21 auctions. It was the same story last week, with 17 bidders on four homes but only 15 bidders on the other 21 homes we reported on. This week we saw 26 bidders on seven homes and 24 bidders combined on the other 27 homes we reported on. Which shows that properties that are hot are really hot. Those that aren’t need a good agent.
These facts should show you the importance of
<ul>
<li>Research</li>
<li>Multiple negotiation strategy – low and high</li>
<li>Price framing – may be $100,000s away from where you are.</li>
<li>Selection in buying now determines for your future in selling</li>
</ul>
Mal James is principal of<a target="_blank" title="James Buyer Advocates" href="https://www.jamesbuyeradvocates.com.au/"> James Buyer Advocates</a>, which advocates on behalf of buyers of property over $1 million. Mal writes weekly auction reports, advice and in-depth market analysis on James' website.
 
 
 
 
<ul></ul>
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maljames-vHwm28JUAa

The bubble has truly burst, but the prestige Melbourne market is two-faced: Mal James

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Rothesay, the very grand 1896 Victorian Italianate home in Bellevue Hill, which was passed in at $12 million at last month’s auction, has now been sold at an unconfirmed $13 million-plus price.
It last traded in 1998 when the founder and executive chairman of the St Hilliers group, Tim Casey, and his wife, Anne Marie, daughter of the thoroughbred trainer Bart Cummings, bought Rothesay for $4,606,000 in 1998 from the Jagelman family.
Having been extensively remodelled, Rothesay was listed with price hopes of more than $13 million through Ray White Double Bay selling agents Michael Finger and Craig Pontey.
The sale will sit within the top 10 sales across Sydney this year.
<a target="_blank" href="https://www.propertyobserver.com.au/auctions/italianate-mansion-rothesay-passed-in-for-%2412-million-at-auction/2011111052315">The three-level residence</a>, crowned by a classic Italianate turret, has Thomas Hamel interiors and gardens by William Dangar.
Last year Casey's St Hilliers was ranked 91 in BRW's list of Top 500 Private Companies.
The company, founded by Casey in 1989, ranks as one of Australia's leading providers of property and construction services.
 
 
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jchancellor-FAypfDUnLy

Grand Bellevue Hill mansion Rothesay sells for more than $13 million

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The wide diversity of people’s trades and professions ensures that everyone can earn a living in their own way. 
Each of us has something different to offer, from the carpenter to the doctor. We have our tools of the trade and we have our special skills, and we use these in daily life to earn our bread and butter. 
When the carpenter uses his hammer, the doctor his stethoscope or the writer his pen, they offer specialist skills which others do not have. They also have the benefit of years of experience and are talented in what they do. They have all learnt their skills “the hard way”. That is, they have gained experience by learning from their mistakes along the way. 
It is not enough to hold a hammer in your hand or wear a stethoscope around your neck unless you know how to use it. And in the case of politicians if their tongue is their skill, let them be silent unless they know when and how to use it. 
One of the greatest skills of all is the art of negotiation. 
We learn instinctively to negotiate from the time we are born and we build and hone this skill as time go by. But let’s face it: negotiation is not everyone’s forte. You have to learn how to negotiate. You need to have competed and lost and won many times over before you have the advantage over an opponent through experience. 
In real estate transactions win-win negotiation is paramount. When the stakes are high and you have to admit you may not be the best negotiator in your own interest I recommend you engage a buyers’ advocate (or buyers’ agent) to do the job for you. 
buyers’ agents know their stuff. They have learned the hard way how to close a winning deal and they have earned that special skill of successful negotiation.
Tim Mansfield is founder and principal of Sydney-based buyers' agency <a target="_blank" href="https://www.primepropertybuyer.com/">Prime Property Buyer</a>.
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Buyers' agents are experts in negotiation

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For many Australians, the joy of Christmas time is generally accompanied by increased expenditure as people spend big on presents, socialising, travel and the like.  And for those borrowers already having difficulty meeting mortgage repayments, unfortunately Christmas brings little relief – instead it can be a time of increased financial hardship and stress. 
There are a number of ways that borrowers can look to avoid experiencing mortgage stress over the Christmas period, or at the very least, reduce it.  In my experience, planning ahead is key – the more you can anticipate costs in advance and allocate funds where necessary, the better positioned you will be to maintain your regular mortgage repayments. 
Carefully budget
It sounds obvious, but surprisingly many people do not stick to a budget at Christmas and get swept away with the various novelty items that can be purchased.  However when you overspend on unnecessary items it can be tempting to make up the shortfall by skipping an often sizeable mortgage repayment which can be expensive – both in terms of the fees incurred as well as the extra accrued interest that gets added to your overall amount owing. 
Budgeting doesn’t mean you have to be a scrooge, rather it involves considering everything that you will need to purchase over the season, including presents, food stuffs and beverages, decorations, cards and postage costs etc.  With all of your expenses laid out, it is easier to realistically see what you can afford and how your available capital can be best allocated.  This knowledge should put you in a better position to avoid skipping a mortgage repayment and can also help to reduce levels of anxiety.
 
Assess your mortgage options
While every mortgage package is different and each lender has varying conditions, there may be certain steps you can take to manage your mortgage at Christmas time. 
If you have been consistently paying an amount above the minimum repayment due then you could have a buffer that may allow you to reduce your repayments to the minimum level due over Christmas time, giving you somewhat of a reprieve over the costly period.  If you are not in such a position this year, it is certainly worth considering paying above the minimum amount over the course of next year, particularly as interest rates may move downwards, which should better prepare you to cope financially next Christmas. 
For those borrowers who will struggle to make the minimum repayment required due to increased Christmas expenses, various lenders may offer suitable options such as repayment holidays, which could see you able to put your repayments on hold for a specified period.  While convenient at the time, these options should be approached with care, as they will almost always incur a fee and interest will continue to accrue. 
Mortgage management over the expensive Christmas season is certainly possible but takes planning and careful budgeting.  For those people in serious mortgage stress, I would highly recommend sitting down with your lender to discuss your situation and to see the types of remedies that can be offered.
Charles Tarbey is chairman and owner of <a href="https://www.century21.com.au/" target="_blank">Century 21.</a> 
 
 
 
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Avoid mortgage stress over Christmas

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Whether it was due to political pressure or a desire to protect their brands by avoiding a pre-Christmas shellacking, the major banks and their subsidiaries all passed on the full RBA rate cut last week.
At 7.35pm on Thursday, Westpac announced that it was passing on the rate cut in full, following on from the Commonwealth Bank announcement just over an hour earlier.
Bankwest came to the party at 9.15pm with St George the last of the major bank brands at 10.13am on Friday morning, setting perhaps a new benchmark for time taken to make an interest rate announcement.
The Commonwealth Bank sent out a single abrupt paragraph:
“The Commonwealth Bank announced today that it will lower its Standard Variable Home Loan Interest Rate by 0.25% per annum to 7.31% per annum, effective for new and existing customers from 19 December 2011.”
This was in contrast to lengthier announcements from the other major banks, which, while highlighting the deteriorating situation in Europe and the impact on their funding costs, said they had made the “difficult” decision to pass on the full rate cut in the interests of their customers.
The kindest words came from NAB’s Lisa Gray, who said the bank wanted to “put money back in the hands of our customers and assist with supporting the Australian economy this Christmas”.
However, ANZ boss Mike Smith was clearly not happy about the amount of political pressure being placed on the banks to pass on the rate cuts in full:
“If there is one lesson the first round of the global crisis taught us, it is that a strong banking sector and well-managed government finances are the best protection the economy can have to avoid a co-ordinated downturn,” he wrote in the Financial Review.
“We simply have to have a broader and more informed public discussion about these issues as they affect all parts of the economy, including ­banking.”
Smith’s comments follow the ANZ announcing it will no longer adjust its mortgage rates following official RBA cash rate decisions.
“Bank funding costs are now largely unrelated to movements in the Reserve Bank’s official cash rate. We have therefore taken a decision to announce future pricing changes for retail and small business variable interest rates on the second Friday of each month,” said ANZ chief executive Australia Philip Chronican. 
“This provides a measure of predictability for customers on when rate changes will occur and it provides us with the flexibility to reflect movements in funding costs across the full spectrum of funding sources – not solely in response to the Reserve Bank’s cash rate.” 
A move out of step with the RBA was flagged Alan Kohler, who said he had suggested just such an idea to the major banks. 
Writing for <a target="_blank" href="https://www.businessspectator.com.au/bs.nsf/Article/RBA-monetary-policy-cash-rate-Reserve-Bank-news-ce-pd20111208-PBR86?OpenDocument&amp;emcontent_Kohler">Business Spectator</a> on Thursday Kohler said: “Here’s a mad suggestion for the bank managers: level with your customers. Explain how your funding costs work and then when there’s a change in the price of the 26% or so of funds that come from wholesale financial markets, change the interest rate on your loans then, rather than waiting for the first Tuesday of the month, when the RBA board meets. “I have suggested this to each of the banks and to their lobbyists, and each of them agreed it would be a good idea. But then they shrug with a helpless smile. Banks hunt in packs, you see.” 
Kohler later tweeted following the ANZ announcement: “ANZ has taken my advice, and will set rates on 2nd Friday of each month, not just when the RBA moves.” 
Here’s a rundown of the interest rate changes announced by the banks and when they kick in: 
<table style="width: 470px;" border="1" cellspacing="0" cellpadding="0"><tbody>
<tr>
<td width="205" valign="top">
Bank
</td>
<td width="205" valign="top">
New standard variable rate
</td>
<td width="205" valign="top">
When it kicks in
</td>
</tr>
<tr>
<td width="205" valign="top">
ING Direct*
</td>
<td width="205" valign="top">
6.22%
</td>
<td width="205" valign="top">
December 13
</td>
</tr>
<tr>
<td width="205" valign="top">
ME Bank
</td>
<td width="205" valign="top">
6.74%
</td>
<td width="205" valign="top">
Immediately
</td>
</tr>
<tr>
<td width="205" valign="top">
Heritage Bank
</td>
<td width="205" valign="top">
6.94%
</td>
<td width="205" valign="top">
December 16
</td>
</tr>
<tr>
<td width="205" valign="top">
Bankwest
</td>
<td width="205" valign="top">
7.20%
</td>
<td width="205" valign="top">
December 19
</td>
</tr>
<tr>
<td width="205" valign="top">
NAB
</td>
<td width="205" valign="top">
7.22%
</td>
<td width="205" valign="top">
December 16
</td>
</tr>
<tr>
<td width="205" valign="top">
ANZ
</td>
<td width="205" valign="top">
7.30%
</td>
<td width="205" valign="top">
December 16
</td>
</tr>
<tr>
<td width="205" valign="top">
St.George
</td>
<td width="205" valign="top">
7.30%
</td>
<td width="205" valign="top">
December 19
</td>
</tr>
<tr>
<td width="205" valign="top">
CBA
</td>
<td width="205" valign="top">
7.31%
</td>
<td width="205" valign="top">
December 19
</td>
</tr>
<tr>
<td width="205" valign="top">
Westpac
</td>
<td width="205" valign="top">
7.36%
</td>
<td width="205" valign="top">
December 19
</td>
</tr>
<tr>
<td width="205" valign="top">
Bank of Queensland
</td>
<td width="205" valign="top">
7.36%
</td>
<td width="205" valign="top">
December 16
</td>
</tr>
</tbody></table>
 
*applies to its Mortgage Simplifier product
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Unhappily perhaps, banks pass on full rate cuts 

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The Woolworths St Albans supermarket in Melbourne’s north west has sold at auction to a private investor for $7.24 million, significantly above expectations, demonstrating the <a href="https://www.propertyobserver.com.au/retail/woolworths-coles-key-to-attracting-sydney-retail-investors-htw/2011120952767">appeal of suburban shopping centres anchored by Woolworths or Coles.</a>
The sale reflects a yield of 5.7% on annual rental of over $481,000
More than 100 bids were submitted.
Agents Kliger Wood Real Estate and TBM Commercial, who marketed the store, had expected a price around the $6 million mark
Kliger Wood director Eugene Wood says the supermarket offered investors long-term income security with a leading national retailer as the sole tenant.
“The St Alban’s store is a strong performer having recorded consistent annual sales growth since 2006.
“The property was also extensively refurbished about five years ago and services a growing residential area from a prominent and easily accessible site.
“We were expecting offers in the region of $6 million as commercial investments of this scale and sole tenancy profile will attract the attention of larger private investors or superannuation funds.”
Woolworths is the sole tenant on the 6,348 square metre property located within a Business 1 zone and in close proximity to the St Albans railway station and a major bus interchange. It includes a liquor outlet which has a building area of 2,520 square metres.
The lease which is to Woolworths Limited commenced in June 2004 for a 15-year term plus 10-years, followed by four further option terms of five years, which would provide a lease currency until June 2049.
There is a base rent payable monthly in advance which is currently set at $472,183 gross with a turnover rent which is calculated at a reducing percentage per benchmark levels of retail turnover.
The turnover rent is also subject to a review calculated every five years to the average of the previous three years base rent plus turnover rent.
The breakeven point for the turnover rent is currently set at $23,609,184 and the turnover rent contribution in the financial year ended June 30, 2011 was $9,352.
 
 
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St Albans Woolworths sells for $7.24 million

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Sydney shopping centres anchored by either Woolworths or Coles have proven attractive to retail property investors in 2011, according to the December property market report by Herron Todd White. 
The report notes that outside of the Sydney CBD market investor interest returned over 2011, with a number of transactions on investment-grade properties. 
“This heightened activity follows on from a strong 2010, which saw the re-emergence of private investors and property syndicates, previously priced out of the market,” the December report notes. 
“The increase in investor interest has been focused firmly on properties in the $5 million to $25 million range, which feature a strong anchor tenant, generally a Woolworths or Coles supermarket.” 
Recent shopping centres transactions outside of the Sydney CBD include the sale in October of Dee Why Market for $22 million, on an initial yield of 8.8% and 248 Church Street Parramatta for $19.55 million, on an initial yield of 7.9%. 
The Dee Why Market is anchor tenanted by Woolworths, while Parramatta centre is anchored by rival Aldi. 
Both these sales, says HTW, have “reaffirmed the strength of this sector”. 
“Outside of this price range, sales activity has been limited.” 
Currently up for sale is the 3,900 square metres Woolworth’s Neutral Bay store on the Sydney North shore bringing in net income of $1.9 million per year and fully leased by the supermarket until 2014. The expressions of interest campaign run by Savills agents Simon Muirhead and Ben Stewart ends on December 14. 
Herron Todd White valuers are by no means the only ones to note the value Coles and Woolworths bring to shopping centres. 
In its October annual report, Charter Hall Retail REIT said it would continue to re-weight its shopping centre portfolio in <a href="https://www.propertyobserver.com.au/retail/charter-hall-has-a-taste-for-coles-and-woolies/2011100451775">favour of Australian shopping centres anchored by Coles and Woolworths</a> after the supermarket groups helped the REIT deliver profits of $62.9 million for the year off a portfolio valued at $1.93 billion. 
Similarly, in August Mirvac said its retail portfolio has defied the current retailing gloom by delivering solid growth, with food majors <a href="https://www.propertyobserver.com.au/news/coles-and-woolies-help-mirvac-deliver-30-profit-increase/2011082351258">Coles and Woolies accounting for a quarter of rental income.</a> 
The picture is less rosy in the Sydney retail strip market where increased vacancy and concerns over the rental growth outlook has restricted the level of demand from investors. 
“Demand from owner occupiers also remains low, with the dual impact of weak retail sales and high lending costs preventing new start ups and limiting expansion plans. 
“There are however a few exceptions to this rule. Quality properties in locations with minimal vacancy remain in high demand. For example a strata retail suite in Potts Point sold for $850,000, equating to $9,043 per square metre. 
“At the top end of the market the dual impact of a lack of properties being actively marketed and a reduction of potential buyers has resulted in a continued lack of property transactions.
“Over the past 11 months the most expensive retail property sold in Sydney was for ($42.8 million) Bridgepoint, Mosman. 
The report notes that while the Westfield Sydney City technically opened in December 2010, the majority of the stores including the much hyped ‘Zara,’ opened their doors in the first half of 2011. 
“Westfield, coupled with the redevelopment of the Mid City Centre in 2010, has revitalised the Pitt Street Mall precinct, luring high end and international retailers to Sydney. 
“Despite the initial relocation of many prime retailers into the new developments from properties surrounding Pitt Street Mall, super prime retail rents remain firm, with new retailers eager to benefit from location near these new centres.” 
According to a September report by Cushman &amp; Wakefield, retailers on Pitt Street Mall are paying <a href="https://www.propertyobserver.com.au/retail/pitt-street-mall-closing-in-on-fifth-avenue-retail-rents/2011090151391">33% more per square metre than 12 months ago</a> with the average rent equating to more than $10,000 per square metre.
 
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Woolworths, Coles key to attracting Sydney retail investors: HTW

<html><body>
<table width="285" cellpadding="0" cellspacing="0" border="1"><tbody>
<tr>
<td valign="bottom" nowrap width="69">
Postcode
</td>
<td valign="bottom" nowrap width="123">
Suburb
</td>
<td valign="bottom" nowrap width="93">
Median house price
</td>
</tr>
<tr>
<td valign="bottom" nowrap width="69">
5081
</td>
<td valign="bottom" nowrap width="123">
<a href="/news">MEDINDIE</a>
</td>
<td valign="bottom" nowrap width="93">
$1,505,000
</td>
</tr>
<tr>
<td valign="bottom" nowrap width="69">
5061
</td>
<td valign="bottom" nowrap width="123">
<a href="/news">UNLEY PARK</a>
</td>
<td valign="bottom" nowrap width="93">
$1,457,500
</td>
</tr>
<tr>
<td valign="bottom" nowrap width="69">
5067
</td>
<td valign="bottom" nowrap width="123">
<a href="/news">ROSE PARK</a>
</td>
<td valign="bottom" nowrap width="93">
$1,192,750
</td>
</tr>
<tr>
<td valign="bottom" nowrap width="69">
5065
</td>
<td valign="bottom" nowrap width="123">
<a href="/news">TOORAK GARDENS</a>
</td>
<td valign="bottom" nowrap width="93">
$1,128,500
</td>
</tr>
<tr>
<td valign="bottom" nowrap width="69">
5068
</td>
<td valign="bottom" nowrap width="123">
<a href="/news">LEABROOK</a>
</td>
<td valign="bottom" nowrap width="93">
$1,072,500
</td>
</tr>
<tr>
<td valign="bottom" nowrap width="69">
5006
</td>
<td valign="bottom" nowrap width="123">
<a href="/news">NORTH ADELAIDE</a>
</td>
<td valign="bottom" nowrap width="93">
$1,045,000
</td>
</tr>
<tr>
<td valign="bottom" nowrap width="69">
5022
</td>
<td valign="bottom" nowrap width="123">
<a href="/news">TENNYSON</a>
</td>
<td valign="bottom" nowrap width="93">
$1,045,000
</td>
</tr>
<tr>
<td valign="bottom" nowrap width="69">
5065
</td>
<td valign="bottom" nowrap width="123">
<a href="/news">TUSMORE</a>
</td>
<td valign="bottom" nowrap width="93">
$1,030,500
</td>
</tr>
<tr>
<td valign="bottom" nowrap width="69">
5070
</td>
<td valign="bottom" nowrap width="123">
<a href="/news">JOSLIN</a>
</td>
<td valign="bottom" nowrap width="93">
$980,000
</td>
</tr>
<tr>
<td valign="bottom" nowrap width="69">
5061
</td>
<td valign="bottom" nowrap width="123">
<a href="/news">MALVERN</a>
</td>
<td valign="bottom" nowrap width="93">
$970,000
</td>
</tr>
</tbody></table>
Source: RP Data
 
 
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Top 10 most expensive suburbs in SA for house prices: RP Data

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Westpac subsidiary brands St George and Bank of Melbourne has followed their parent bank by passing on the full RBA rate cut.
Both banks will reduce their standard variable home loan rateby 0.25% to 7.3% per annum. However, Bank of Melbourne will cut its rate on December 16 while St George will wait until December 19 before passing on the rate cut.
Both banks have also cut variable business loan and business overdraft rates by 0.25% – effective from the same dates.


“St George cut its standard variable home loan rate by 0.25% in November and I’m pleased to let our customers know we’ve decided to cut our rates by a further 0.25%,” says St George Bank chief executive Rob Chapman.
 
 
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