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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Even though all the major banks are passing on the RBA's rate cut, it is not provide enough stimulus to result in any significant turnaround in property value growth, according to RP Data research analyst Cameron Kusher.
“We suspect that consumers will remain cautious and continue to pay down their debt.
"Given this, if the cut is passed on it would likely provide welcome relief to home owners and may encourage some increase in sales activity next year, however, it is unlikely to provide a stimulant for property values to once again start increasing given the broader economic conditions,” Kusher suggests.
Kusher says if the interest rates cut announced by the Reserve Bank of Australia this week is passed on by all banks, it would provide reprieve for those home owners currently under mortgage stress.
“Undoubtedly interest rate cuts improve housing affordability."
But Kusher is cautious about anticipating any bounce from any full rate cuts.
“Although history can be a guide to the future, we feel that conditions are somewhat different this time round – property values are higher than they have been before and although interest rate cuts and value falls help boost affordability, it remains much more affordable to rent than it is to purchase,” he says.
He notes a raft of economic indicators suggest that market conditions may be somewhat different than those of the past.
<ul>
<li>Retail trade has grown by just 3.4% over the 12 months to October 2011, which is well below the decade average growth of 5.4% annually.</li>
<li>GDP data released for the September 2011 quarter this week shows that the Australian economy expanded by 2.5% over the year compared with an average expansion of 3% annually over the past decade.</li>
<li>Households continue to save around 10% of their income which is at levels not seen since the since the mid 1980s.</li>
<li>The total value of housing finance commitments have grown by just 4.1% over the 12 months to September and have fallen by -1.3% when refinances are removed.</li>
<li>The European governments are currently experiencing a debt crisis, not to mention the ongoing weakness of the US economy.</li>
</ul>
"Given the overall cautious nature of Australian consumers and the weak economic conditions in a number of other advanced economies , it would seem unlikely that even if the Australian economy continues to perform comparatively well, credit for housing will be as freely available as it has been in the past over the next 12 months,” Kusher adds.
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jchancellor-FAypfDUnLy

Rate cuts will not be enough to stimulate housing recovery: RP Data

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It has taken almost two days, but ANZ has jumped first, breaking the big bank silence and passed on the full 25-basis-point rate cut to its borrowers.
 
The bank says it will lower interest rates for variable-rate mortgages and small business lending by 0.25% per annum effective from December 16. 
This will reduce its new standard variable mortgage rate to 7.3% per annum.
 
In addition, the bank has introduced a special two-year fixed-term mortgage at 5.95% per annum on December 12. This is a reduction of 0.2% per annum on the current two-year rate and 1.35% per annum lower than ANZ’s new standard variable rate. 
The bank says future pricing decisions will be made on the second Friday of each month, (rather than following RBA rate decisions). 
ANZ chief executive Australia Philip Chronican says: “In the face of the economic and banking crisis in Europe, our decision on the size of the interest rate change has been one of the most difficult we have made in recent times. Retail banking margins have been contracting as the cost of funds has progressively risen over the last six months. 
“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. 
“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. 
“We know many people in the community are doing it tough at the moment and, on this occasion, we felt that a decision to reduce interest rates by 0.25% per annum for home borrowers and for small business was the right one in the circumstances. 
“The significance of the crisis in Europe however has real consequences for the global economic outlook, for the Australian economy and for bank funding costs,” he says.
 
 
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lschlesinger-FZcF9M3vE6

ANZ to pass on full 25-basis-point rate cut to borrowers

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Buyers don’t need to see a lot of price growth to regain confidence in the housing market, they just want to know that home values have stabilised, according to estate agent John McGrath.
"A lot of people are sitting there with cash in the bank waiting for the signal that the market has levelled,” he says.
"The underlying demand is there, people are just waiting for the bell to ring, and I think there’s a good chance that will happen in the first half of 2012.
"People are looking for some good news.”
But his summer wish list is expecting plenty, since he says "we need to see unemployment down, retail spending up, a resolution in Europe, improved bonuses and a good consistent quarter on the stock market for the prestige sector to move".
"Sentiment can turn quickly and behind the veneer of nervousness, there is a genuine desire to get into the market," McGrath adds.
McGrath suggests a lot of people de-leveraged in the GFC and they will be ready to buy again when their confidence is restored.
McGrath points to RP Data figures suggesting the window of opportunity to buy at the bottom is closing.
"Capital city home values recorded their best result in seven months in September, with falling prices slowing to only -0.2% seasonally adjusted while regional houses rose 0.1%."
He suggests with so many traditional asset classes appearing "unstable at best or volatile at worst", bricks and mortar would prove to be a popular investment avenue, particularly with the significant baby boomer market.
He notesthere had been two big investment trends in 2011 – more people buying through self-managed super funds and also increased investment from the Chinese, who see Australia as a great investment market with a strong currency and business economy and excellent education opportunities.
He has also noticed less demand from retirees in coastal markets "but this will inevitably pick up as the population continues to age".
"We’re seeing increased buyer activity and general positivity in a number of regional markets as people begin picking the bottom and taking advantage of great buying.
"Sydney investors are increasingly looking at major regional markets offering lifestyle, improving infrastructure and jobs growth such as Newcastle/Hunter, Wollongong, Byron Bay and Port Macquarie,” McGrath says.
"Rental demand, yields and capital growth prospects in these areas are excellent," he adds
Although the Gold Coast is showing new signs of life with vendors more realistic and buyer sentiment improving, McGrath concedes a recovery still has a long way to go.
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Property could rebound in first half of 2012, but five factors must fall into place for prestige: John McGrath

<html><body>
<div>
<table width="292" cellpadding="0" cellspacing="0" border="1"><tbody>
<tr>
<td valign="bottom" nowrap width="64">
Postcode
</td>
<td valign="bottom" nowrap width="135">
Suburb
</td>
<td valign="bottom" nowrap width="93">
Median house price
</td>
</tr>
<tr>
<td valign="bottom" nowrap width="64">
4213
</td>
<td valign="bottom" nowrap width="135">
<a href="/news">SPRINGBROOK</a>
</td>
<td valign="bottom" nowrap width="93">
$350,000
</td>
</tr>
<tr>
<td valign="bottom" nowrap width="64">
4211
</td>
<td valign="bottom" nowrap width="135">
<a href="/news">NERANG</a>
</td>
<td valign="bottom" nowrap width="93">
$370,000
</td>
</tr>
<tr>
<td valign="bottom" nowrap width="64">
4209
</td>
<td valign="bottom" nowrap width="135">
<a href="/news">PIMPAMA</a>
</td>
<td valign="bottom" nowrap width="93">
$380,000
</td>
</tr>
<tr>
<td valign="bottom" nowrap width="64">
4209
</td>
<td valign="bottom" nowrap width="135">
<a href="/news">COOMERA</a>
</td>
<td valign="bottom" nowrap width="93">
$384,000
</td>
</tr>
<tr>
<td valign="bottom" nowrap width="64">
4216
</td>
<td valign="bottom" nowrap width="135">
<a href="/news">COOMBABAH</a>
</td>
<td valign="bottom" nowrap width="93">
$395,000
</td>
</tr>
<tr>
<td valign="bottom" nowrap width="64">
4209
</td>
<td valign="bottom" nowrap width="135">
<a href="/news">UPPER COOMERA</a>
</td>
<td valign="bottom" nowrap width="93">
$405,000
</td>
</tr>
<tr>
<td valign="bottom" nowrap width="64">
4211
</td>
<td valign="bottom" nowrap width="135">
<a href="/news">LOWER BEECHMONT</a>
</td>
<td valign="bottom" nowrap width="93">
$405,000
</td>
</tr>
<tr>
<td valign="bottom" nowrap width="64">
4215
</td>
<td valign="bottom" nowrap width="135">
<a href="/news">LABRADOR</a>
</td>
<td valign="bottom" nowrap width="93">
$405,000
</td>
</tr>
<tr>
<td valign="bottom" nowrap width="64">
4226
</td>
<td valign="bottom" nowrap width="135">
<a href="/news">MERRIMAC</a>
</td>
<td valign="bottom" nowrap width="93">
$408,000
</td>
</tr>
<tr>
<td valign="bottom" nowrap width="64">
4208
</td>
<td valign="bottom" nowrap width="135">
<a href="/news">JACOBS WELL</a>
</td>
<td valign="bottom" nowrap width="93">
$415,000
</td>
</tr>
</tbody></table>
</div>
<div></div>
<div>Source: RP Data</div>
<div></div>
<div></div>
<div></div>
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awalsh-7Ub9EypybQ

Top 10 cheapest suburbs on the Gold Coast for house prices: RP Data

<html><body>
Federal Treasurer Wayne Swan says borrowers who are not satisfied with the response of the major banks to the December 6 rate cut should vote with their feet and switch lenders.
A move away from the majors to some of the second-tier lenders would certainly increase competition in the sector.
According to mortgage broker AFG’s November report, the major banks increased their dominance of mortgage lending, accounting for 80.4% of all loans processed, compared with 78.9% in October.
In addition, all the major banks delivered record profits this financial year, with Westpac earning $6.99 billion (10% up), the Commonwealth Bank taking home $6.1 billion (40% up), NAB earning $5.5 billion (19.2%) and ANZ earning $5.4 billion (19%).
Collectively that totals about $24 billion, greater than gross national products of Taiwan, the Czech Republic and Hungary, to name just a few.
For the millions of borrowers still waiting to hear how much of the RBA’s 0.25% cash rate cut the major banks will pass on, here’s a rundown of just how big their mortgage books are:
$304.2 billion
The size of the Commonwealth Bank mortgage book (including Bankwest)
$287 billion
The size of the Westpac mortgage book (including St George)
$174.7 billion
The size of NAB’s mortgage book
$160 billion
The size of ANZ’s mortgage book
$37 billion
The size of the ING Direct mortgage book
$29.6 billion
The size of the Suncorp mortgage book
$21.6 billion
The size of the Bendigo and Adelaide Bank mortgage book
$21.2 billion
The size of Bank of Queensland’s mortgage book
$7.2 billion
The size of the HSBC mortgage book
$7.1 billion
The size of Citibank’s mortgage book
$6.4 billion
The size of AMP’s mortgage book
$5.4 billion
The size of the Members Equity Bank mortgage book
$2.3 billion
The size of Macquarie Bank’s mortgage book
 
Source: APRA October 2011 monthly banking statistics
 
 
 
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Major banks’ mortgage books soar as borrowers toy with swapping lenders 

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Harry Triguboff’s Meriton group will complete 700 serviced apartments across Australia in 2012, and has recently acquired a North Sydney site.
The site at 80 Arthur Street is in the heart of the North Sydney CBD and measures 922 square metres. The sales price has not been disclosed. The vendor was the Medi-care Centre Foundation, which acquired the land and office building in 1988 for $14.1 million. A nearby vacant lot on Little Walker street measuring 1,600 square metres sold for $59 million in June 2006.
Construction of the North Sydney apartments is expected to begin next year subject to North Sydney Council approving concept plans and then a full development application.
The North Sydney acquisition follows Meriton acquiring a property in Zetland in the inner east, which will be developed into a $200 million serviced apartment project.
The Zetland project will take the number of projects Meriton is building along South Dowling Road to 5,500.
Apartments in the Zetland block will start at $550,000.
According to Triguboff occupancy rates in serviced apartments are strong while room rates in Australia compare well with those overseas.
Speaking at a property lunch last week, Triguboff highlighted that most of his new apartments were being sold to Asian buyers and that many potential Australian buyers were being priced out of the market due to high costs and high interest rates.
"This ability to be competitive, even with Asia, proves that we are in a very strong long-term position," he has told The Australian.
He says the new serviced apartments will also be targeted at Asian buyers.
Meriton launched its serviced apartment business in 2005 and now has a portfolio of 2,258 apartments and over 3,300 bedrooms with seven buildings in Sydney, two on the Gold Coast and one in Brisbane.
In September this year, Meriton opened two new serviced apartment properties.
Most striking was the 234-metre-high Soleil building on Adelaide Street in the Brisbane CBD, now the city’s tallest building and comprising over 460 apartments. It was Meriton first serviced apartment in Brisbane.
In Sydney, Meriton opened a purpose built serviced apartment property with 247 apartments in the Haymarket district, cornering both Campbell Street and George Street.
Meriton has sold 120 out of 130 apartments at the former site of Channel 7 in Epping, Northern Sydney.
Meriton acquired the site for $55 million in June 2010
Once completed the site will have 800 apartments. Triguboff says Meriton plans to develop the site further with the addition of 200 apartments.
</body></html>

Harry Triguboff's Meriton group to build 700 serviced apartments next year across Australia

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As the stand-off between the big banks and their borrowers enters an unprecedented second day, credit unions and mortgage minnows have shown up their bigger rivals by passing on most of the November 6 rate cut.
BMC Mortgage, Collins Home Loans, Credit Union SA, Hemisphere Financial, Police and Nurses Mutual Banking, The Capricornian and Unicredit WA have all passed on at least 16-basis-point reductions to customers, according to RateCity.com.au.
Lenders that have cut rates
<div align="center">
<table style="width: 450px;" border="0" cellspacing="0" cellpadding="0"><tbody>
<tr>
<td width="29%" nowrap>
Lender 
</td>
<td width="43%" nowrap>
Product 
</td>
<td width="12%" nowrap>
New rate 
</td>
<td width="15%" nowrap>
Cut by 
</td>
</tr>
<tr>
<td width="29%" nowrap>
BMC Mortgage
</td>
<td width="43%" nowrap>
Platinum Pack
</td>
<td width="12%" nowrap>
6.85%
</td>
<td width="15%" nowrap>
-0.25%
</td>
</tr>
<tr>
<td width="29%" nowrap>
BMC Mortgage
</td>
<td width="43%" nowrap>
Advantedge
</td>
<td width="12%" nowrap>
6.93%
</td>
<td width="15%" nowrap>
-0.25%
</td>
</tr>
<tr>
<td width="29%" nowrap>
Collins Home Loans
</td>
<td width="43%" nowrap>
Premium Variable
</td>
<td width="12%" nowrap>
6.79%
</td>
<td width="15%" nowrap>
-0.20%
</td>
</tr>
<tr>
<td width="29%" nowrap>
Collins Home Loans
</td>
<td width="43%" nowrap>
Variable
</td>
<td width="12%" nowrap>
6.47%
</td>
<td width="15%" nowrap>
-0.25%
</td>
</tr>
<tr>
<td width="29%" nowrap>
Collins Home Loans
</td>
<td width="43%" nowrap>
First Home Buyer Low Deposit
</td>
<td width="12%" nowrap>
7.46%
</td>
<td width="15%" nowrap>
-0.25%
</td>
</tr>
<tr>
<td width="29%" nowrap>
Collins Home Loans
</td>
<td width="43%" nowrap>
Go Between Loan
</td>
<td width="12%" nowrap>
6.79%
</td>
<td width="15%" nowrap>
-0.16%
</td>
</tr>
<tr>
<td width="29%" nowrap>
Credit Union SA
</td>
<td width="43%" nowrap>
First Home Loan
</td>
<td width="12%" nowrap>
6.92%
</td>
<td width="15%" nowrap>
-0.20%
</td>
</tr>
<tr>
<td width="29%" nowrap>
Credit Union SA
</td>
<td width="43%" nowrap>
Standard Variable &lt;299k
</td>
<td width="12%" nowrap>
7.22%
</td>
<td width="15%" nowrap>
-0.20%
</td>
</tr>
<tr>
<td width="29%" nowrap>
Credit Union SA
</td>
<td width="43%" nowrap>
Standard Variable Unlimited
</td>
<td width="12%" nowrap>
6.92%
</td>
<td width="15%" nowrap>
-0.20%
</td>
</tr>
<tr>
<td width="29%" nowrap>
Hemisphere Financial
</td>
<td width="43%" nowrap>
Contour Loan
</td>
<td width="12%" nowrap>
7.44%
</td>
<td width="15%" nowrap>
-0.25%
</td>
</tr>
<tr>
<td width="29%" nowrap>
Hemisphere Financial
</td>
<td width="43%" nowrap>
Home Loan
</td>
<td width="12%" nowrap>
7.04%
</td>
<td width="15%" nowrap>
-0.25%
</td>
</tr>
<tr>
<td width="29%" nowrap>
Hemisphere Financial
</td>
<td width="43%" nowrap>
Horizon Loan
</td>
<td width="12%" nowrap>
6.69%
</td>
<td width="15%" nowrap>
-0.25%
</td>
</tr>
<tr>
<td width="29%" nowrap>
Hemisphere Financial
</td>
<td width="43%" nowrap>
Quickstart Loan
</td>
<td width="12%" nowrap>
7.34%
</td>
<td width="15%" nowrap>
-0.25%
</td>
</tr>
<tr>
<td width="29%" nowrap>
Police&amp;NursesMut Banking
</td>
<td width="43%" nowrap>
Easypay Variable
</td>
<td width="12%" nowrap>
7.03%
</td>
<td width="15%" nowrap>
-0.25%
</td>
</tr>
<tr>
<td width="29%" nowrap>
Police&amp;NursesMut Banking
</td>
<td width="43%" nowrap>
Dream Home Loan Var
</td>
<td width="12%" nowrap>
6.74%
</td>
<td width="15%" nowrap>
-0.25%
</td>
</tr>
<tr>
<td width="29%" nowrap>
Police&amp;NursesMut Banking
</td>
<td width="43%" nowrap>
Life Style Home Loan
</td>
<td width="12%" nowrap>
7.09%
</td>
<td width="15%" nowrap>
-0.25%
</td>
</tr>
<tr>
<td width="29%" nowrap>
The Capricornian
</td>
<td width="43%" nowrap>
Variable
</td>
<td width="12%" nowrap>
7.60%
</td>
<td width="15%" nowrap>
-0.25%
</td>
</tr>
<tr>
<td width="29%" nowrap>
The Capricornian
</td>
<td width="43%" nowrap>
My Advantage Variable 50K to 2M
</td>
<td width="12%" nowrap>
7.10%
</td>
<td width="15%" nowrap>
-0.25%
</td>
</tr>
<tr>
<td width="29%" nowrap>
The Capricornian
</td>
<td width="43%" nowrap>
My First Home Loan Variable 50K to 750K
</td>
<td width="12%" nowrap>
6.70%
</td>
<td width="15%" nowrap>
-0.65%
</td>
</tr>
<tr>
<td width="29%" nowrap>
Unicredit-WA
</td>
<td width="43%" nowrap>
Variable
</td>
<td width="12%" nowrap>
6.85%
</td>
<td width="15%" nowrap>
-0.25%
</td>
</tr>
<tr>
<td width="29%" nowrap>
 
</td>
<td width="43%" nowrap>
 
</td>
<td width="12%" nowrap>
 
</td>
<td width="15%" nowrap>
 
</td>
</tr>
</tbody></table>
</div>
They join <a target="_blank" href="/news">Bank of Queensland</a>, <a target="_blank" href="">ME Bank</a> and <a target="_blank" href="/news">Heritage Bank</a> (all of whom have passed on the rate cut in full) to announce their interest rate decisions.
The mortgage comparison website calculates that just 6% of more than 110 lenders on its site have announced that they will pass on at least part of the Reserve Bank's 0.25% reduction to mortgage customers (as of December 7).
It expects the majority of lenders to move over the coming weeks as they did in November.
Alongside the Big Four banks and their subsidiary brands ING Direct and Citibank have yet to make any announcement about rate cuts following the RBA cutting the cash rate by 25 basis points on December 6.
Damian Smith, RateCity's CEO, says switching to another lender may be more cost-effective than many borrowers realise.
"If your lender doesn't move on rates this month and you end up with a rate over 7% by January, then switching to a another lender may see you in front financially in less than one year," he says.
The average upfront fee when switching to a new home loan is $535 for home loans in the RateCity database. Some lenders may also be required to pay an exit fee if they signed up to their existing loan before July 1.
"For a borrower with a $400,000 home loan and paying the average of the big four bank's standard variable rates of 7.55% would need to switch to a new rate of 7.38% (0.17% less) to recoup the costs of switching within the first 12 months.
"Borrowers currently paying a rate of 7.1% would need to switch to a rate of 6.93% to recoup the costs of switching in the first year.
"There is really no need to stick with your current lender if they aren't willing to budge on interest rates or they aren't one of the most competitive on the market,” Smith says.
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Mortgage minnows show up major banks on rate cuts 

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To help us get a sense of what happened this year in Melbourne’s top-end property market, on both sides of the fence, we asked some of the greats of Melbourne real estate – our legends – to give us their perspectives. We also asked them to take a longer historical view on how this year compared with the recent past and on how it might impact on the market when it opens again next year.
 
Peter Batrouney – Jellis Craig 
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/stories/peter-batrouney1-120x90.jpg" style="float: left; margin: 5px;">
What happened this year in your area of expertise? Demand was not quite as strong as 2010. However for a prime property such as 47 Kinkora Road, Hawthorn, it is a very strong market still.
Supply is holding, and our own stats support that. Prices are down by 10% to 15%
Where are we on the price cycle compared with 2007 peak, 2008 GFC or say 2010. And what do you think will happen to price early next year? Next year I expect the market to open up briskly as it has always done in my 43 years of tracking it. February is statistically the most successful month in which to sell.
<div>The main reason is the lack of supply. And the fact that buyers left over from the spring quarter react to new stock very positively. Clearly the state of the overseas financial situation will have a continued bearing on how we see things here!</div>
<div> </div>
<div>In general terms I expect things to be steady as she goes in 2012.</div>
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/stories/johnholdsworth-120x90.jpg" style="float: left; margin: 5px;">
John Holdsworth – Hocking Holdsworth
What happened this year in your area of expertise? This has been a year of two markets. The year stated strongly with supply and demand well balanced after a slow end to 2010. Most surplus stock from 2010 was mopped up early in the new year and prices were comparatively strong.
About mid-year however, the news of Europe started to dominate, which initially lowered supply. But at the same time we saw sliding prices (meaning demand dropped even more).
One thing that has become apparent is the flight to quality. Main roads and other distractions have almost become unsalable in Port Philip, particularly in the $2 million-plus range.
Where are we on the price cycle and what do you think will happen to price early next year? In one sense, having a breather after the price spikes of '07 and '09 is not such a bad thing, as 20% growth per annum is unsustainable. The question is, is this a breather or a five year flat market?
<div>I believe we would need some hefty rate cuts to get things moving substantially so as we can get rid of the fear factor.</div>
<div>Having said that, the market will become the market as we know it and we will deal with it accordingly.</div>
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/stories/greghocking-120x90.jpg" style="float: left; margin: 5px;">
Greg Hocking
What happened this year in your area of expertise? Demand was steady for the first half of the year across all price ranges. In the second half there was a noticeable drop off in demand above $2 million. Up to and around $1 million has remained steady. Supply contracted sharply mid-year and rebounded strongly over October and November, noticeably easing prices. Overall the market faded toward the finish line, with many properties failing to attract buyers at any price. Subsequently a significant number have been withdrawn from sale altogether. In closing, it is fair to say that prices across the board have dropped by 10 to 15% this year.
Where are we on the price cycle and what do you think will happen to price early next year? The current price cycle mirrors the worst of 2008 and much like the early '90s buyers are remaining cautious and largely unresponsive to the downward movement in pricing that has occurred throughout 2011. The ongoing negative media coverage of the market has no doubt influenced many would be buyers to ‘sit on the fence’.
<div>Buyers currently brave enough to be in the market are almost paralysed by the fear of making an offer that might be accepted – which they fear must mean they must be paying too much!</div>
<div> </div>
<div>The easing of interest rates offers a glimmer of hope for a more balanced market as we move into 2012. No other factor will have more of an influence on the 2012 market than interest rate movements. However a full 1% drop over a relatively short time frame would be required before prices begin to rise again.</div>
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/stories/jamesconnell-120x90.jpg" style="float: left; margin: 5px;">
James Connell – Marshall White
What happened this year in your area of expertise? In 2011 we have seen a reserved correction in terms of pricing as a result of general uncertainty and fear as a result of world economies and media commentary across the many markets in which we operate.
Where are we on the price cycle and what do you think will happen to price early next year? 2012 in my opinion will represent great buying opportunities to those looking to enter the market or upgrade an existing property.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/stories/alastair-craig-120x90.jpg" style="float: left; margin: 5px;">
Alastair Craig – Jellis Craig 
What happened this year in your area of expertise? Demand has been strong for the good quality period/modern homes in the A-grade streets. Supply is down approximately 10%.
 Pricing West of Burke Road is very stable. East of Burke Road prices are down 10% to15%.
When the market gets a little tougher, buyers tend to stick close to Glenferrie/Cotham Road (the school belt). Pricing is approximately 10% down overall from the peak of the market – Easter 2010.
Where are we on the price cycle and what do you think will happen to price early next year? 2012- Hawthorn/Kew to remain steady. East of Burke Road has already fallen 15% and may thus remain stable.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/stories/robvickers.jpg" style="float: left; margin: 5px;">
Rob Vickers-Willis – Abercromby’s 
What happened this year in your area of expertise? With the economic uncertainty from Europe and the continual fluctuations of the share market in the USA we have seen confidence drop in the Australian economy and share market.
This, along with the negative media over a period of time, has caused the market to drop between 5% and 10% this year. Many vendors with A-plus-rated properties have not placed them on the market, which has compromised the quality of stock. B-grade real estate is bringing average prices so the quality of property is not on offer and therefore prices have fallen. This is a trend that will most likely continue through the first half of 2012.
Where are we on the price cycle and what do you think will happen to price early next year? We are probably halfway through the cycle and, depending on what happens to the European markets and the RBA (if they have the balls to drop rates by another 75 basis points by April 2012), we will then see the cycle slow or jump ahead. I expect property prices to vary 1% to 5% up or down or stay constant for the next 12 months.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/stories/andrewstuart.jpg" style="float: left; margin: 5px;">
Andrew Stuart – Hocking Stuart
What happened this year in your area of expertise? 2011 has been a tough year! And yet along with that it has brought opportunities.
Opportunities to "skill up" your staff, particularly in the area of selling in tough conditions, keeping track of that elusive buyer, and still endeavouring to achieve respectable outcomes for your clients.
Clearance rates in Bayside have remained fairly steady throughout the year at around 50-60%.
In previous years approximately 30% of the properties we sold were to investors. This year probably that figure is closer to 10%.
Given that, coupled with more people looking to rent rather than to buy, you can understand why rental properties are very hard to find and why weekly rent is going through the roof. Demand has slipped. Supply of saleable properties has declined, with many vendors still clinging to prices of two years ago. Therefore fewer properties have been selling for cheaper prices.
Where are we on the price cycle and what do you think will happen to price early next year? However, the good news is that I reckon we are at 6 o’clock. Things will improve from here. The question is: When?
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/stories/johnbo.jpg" style="float: left; margin: 5px;">
John Bongiorno – Marshall White
What happened this year in your area of expertise? It has been a challenging year, however properties well priced have continued to sell successfully in this market.
Where are we on the price cycle and what do you think will happen to price early next year? In regard to prices compared to previous years, there are so many different market places within our markets – it is difficult to pinpoint movement, in some instances prices have held firm, in others there have been price adjustments compared to previous years.
I am optimistic about 2012 and I believe the adjustment to prices will see astute buyers take advantage of the market place that exists currently and create more activity than 2011.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/stories/iaincarmichael.jpg" style="float: left; margin: 5px;">
Iain Carmichael – Bennison Mackinnon
What happened this year in your area of expertise? It has become evident that buyer demand for most sectors of the residential market across Melbourne’s inner suburbs has receded from the highs of late 2010. Buyers have become more studied in their approach and are less inclined to negotiate on properties that are overpriced.
Accordingly, people are taking longer to make buying decisions and family buyers are quite prepared to walk away from properties that do not meet their needs. On the plus side, buyers are still prepared to pay fully for well-located properties offering the right accommodation.
When prices fall in inner Melbourne, supply follows.  This time around is no exception to that rule and its not surprising that fewer people are choosing to sell right now. This very fact actually maintains buoyancy in the market.
A clear reduction in the level of "irrational exuberance" in the marketplace has occurred for all sorts of reasons: uncertainty, uneasiness and apprehension to name three.
Where are we on the price cycle and what do you think will happen to price early next year? Who knows where we are on the price cycle? On the "economic clock" we are probably at about ‘20 past’. Prices will be flat at best in 2012. All the more reason to select the right agent who really understands how to maximise selling prices on behalf of vendors, rather than just making another a sale! On the other hand, real estate prices could well rebound if the European economy falters and private investors move funds from equities. The money has to go somewhere!
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/stories/bertstewart-120x90.jpg" style="float: left; margin: 5px;">
Bert Stewart – Buxton 
What happened this year in your area of expertise? Demand has been reasonably strong overall, especially at the bottom end of the market below the $1.5 million range.
Supply is certainly down on the previous year because of the vendors' uncertainty of what’s happening with the global financial situation, people tend to be conservative in times like these.
Prices have come off 10% to 20% in the top end of the market but have held better in the bottom end.
Where are we on the price cycle and what do you think will happen to price early next year? Compared to the price cycle of the last three years I believe prices are below, but having said that for prestige properties with a wow factor in excellent locations and priced well, they are selling well.
Prediction of the market next year would be steady as she goes with the first batch of auctions in February and March a strong barometer of what will happen going forward.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/stories/michaelgibson.jpg" style="float: left; margin: 5px;">
Michael Gibson – Kay and Burton
What happened this year in your area of expertise? 2011 has been the year of continual market fluctuations, which has made giving accurate advice extremely difficult. Since the start of May supply and demand have been lower however the properties that tick all the boxes have continued to sell well.
Prices have come off in varying degrees; 5% to 15% depending on the quality of the offering, with market conditions perhaps similar to that of 2008.  The auction clearance rates do not reflect the current underlying strength in the market.
Where are we on the price cycle and what do you think will happen to price early next year? 2012 will be determined by local interest rates and confidence levels of the world around us, and to that end let’s hope rates come down and confidence goes up!
Mal James is principal of<a href="https://www.jamesbuyeradvocates.com.au/" target="_blank" title="James Buyer Advocates"> 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.
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maljames-vHwm28JUAa

Melbourne’s top-end market in 2011 - Eleven top agents weigh in on the year: Mal James 

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The timing of the Reserve Bank’s reduction in official rates couldn’t have fallen more awkwardly for the major banks, sandwiched as it was between last week’s modest downgrading of their credit ratings and the looming European Union summit at the weekend. The S&amp;P move highlighted the now well-understood vulnerability of the banks to the freezing of offshore wholesale funding markets, while the summit may well represent the last chance for those teetering markets and the wider European financial system. As the clock kept ticking today none of the banks was prepared to be the first to respond to the RBA rate cut, knowing than anything less than a full 25 basis point pass-through would cause them to be vilified. Indeed, even before they have actually done anything, they’ve already been vilified. Bank bashing is a populists’ sport. The uncomfortable silence of the banks would suggest that they don’t want to pass on the full 25 basis points and are hoping that one of their peers will lose patience first and wear the brunt of the storm that will ensue – much as NAB did last month when it kept a mere five basis points and retained its status as the major with the lowest headline mortgage rate. The pre-emptive belting they have already received from those who regard them as soft targets would also suggest that the banks have failed, despite a lot of effort by them, and some support from the RBA, to convince the politicians, media and public that there is no material direct linkage between the official cash rate and their own cost of funds. Treasurer Wayne Swan, who should know better, was urging the banks to pass the RBA cut on in full today and warning them that they would face the wrath of their customers if they didn’t, in effect making a direct and misleading linkage between the cash rate and their funding costs. Given that households are in an anxiety-induced savings mode, the better argument might have been that the banks would get the resultant savings back in the form of increased deposits and, to the extent that they didn’t, some lift in consumer confidence and spending would ultimately be good for their customers and ultimately their own businesses. Unemployment and business failures are the traditional key threats to bank profitability. At present, however, the majors are pre-occupied with unconventional threats – the prospect of a Eurozone, and perhaps global meltdown. Funding markets are highly volatile and, at times, effectively closed. Even when they have been functioning the cost of funding on offer would, if accepted, signal desperation – which no banks would want to risk, unless it were desperate. Privately the majors are talking quite freely about how long they could survive without access to any wholesale funding despite having significantly reduced their reliance on those markets since 2008. February appears to be the point where they’d have to start asking the RBA for emergency liquidity support. Unless and until the Eurozone is stabilised and debt markets normalised, the majors will remain nervous and defensive and very protective of their status, as a group, as among the handful of the world’s most stable and highly-rated banks. To retain that status, which protects their access to funds when markets are functioning, they have to protect their profitability. Passing on a 25 basis point cut might appear a relatively painless decision to make, given the customer backlash that will develop if they don’t.  With owner-occupied housing loans totalling more than $600 billion on their books, however, the four majors would transfer about $1.5 billion of profits from their shareholders to borrowers if they did. If the rate cut were also passed onto customers that have borrowed for investment housing, the annualised cost would be around $2.2 billion, or nearly seven per cent of their combined profits last financial year Given their critical need to maintain their elevated levels of deposit funding, which have reduced their reliance on wholesale money, they can’t necessarily offset some of that impact by reducing deposit rates. With the RBA deemed likely to cut rates further and more heavily if the Eurozone continues to teeter, the stakes for the majors are potentially very significant. All the banks experienced a significant squeeze on margins as the last financial year progressed, as funding costs inched up and lending volumes fell away. The accelerated response to the Basel III reforms being imposed by the Australian Prudential Regulation Authority, and their own existing big post-2008 holdings of excess capital and liquidity, will also put a rising floor under their funding costs over the next few years. Whereas in 2009-10 it was Westpac and CBA, which had gorged on the surge in home lending sparked by the Rudd Government stimulus packages, that were under real pressure from their funding costs, this time it is NAB that has the most difficult decision to make. Its peers essentially kept the growth in their asset bases in line with the growth in their holdings of deposits last financial year, but NAB, thanks to the success of the Breaking Up campaign, grew its lending at multiples of the system’s growth and beyond the rate of growth in its deposits. The retention of those five basis points last month was an indicator of margin pressure and an increased exposure to wholesale markets. Tactically, its peers may wait for NAB to blink first and move so that they can end its boast of having the lowest headline mortgage rate and devalue the big investment it made in the Breaking Up campaign. NAB would be very aware of that risk and presumably will either pass on the full 25 basis points or wait for them to show their hands before it moves.
This article originally appeared on <a href="https://www.businessspectator.com.au/" target="_blank">Business Spectator</a>.
 
 
 
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sbartholomesusz-jWVzVSPmF8

Bashing banks for a rate cut: Stephen Bartholomeusz

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One of the easiest and most successful small development strategies I’ve used over the years is the old corner block development. We can create around $290,000 by investing $634,000, that’s a whopping 46% return.
By using this strategy you can also create a really cheap block of land.  Developing is all about creating.
But before you start you’ll need to clarify a few things.  What is the minimum lot size in the area you are developing in? What is the land zoned – low or medium density?  Different councils use different terminology, but basically low density usually means two or fewer dwellings are allowed on one title of land.  Medium density is three or more on one title.
You’ll also need to check the council requirements around dual occupancy and medium density. Things like minimum private space requirements and setbacks may discount some corner blocks if they are not large enough to accommodate a duplex and the existing house, or two duplexes. Basically we need to get three (or more) dwellings from one corner block. So it’s important to use a consultant with strong understanding of the local council requirements if you are not up on them.
Once you are clear on this, you can start your search.  In one of the towns we develop in the minimum lot size is 450 square metres. So to be able to subdivide a corner site, you would need a minimum of 900 square metres.  Now this is not always set in concrete, the council may consider a slightly smaller land size, as long as you can show you will be developing and building within its development control plan guidelines. By this I mean you may need to build first and subdivide later or incorporate the subdivision into your development application to build. This is actually my preference, as to subdivide a block upfront takes a lot longer and is more expensive than tying in the subdivision with your development application to build.
However, there are reasons why you may need to subdivide up front. One may be to meet zoning requirements.  We’ve had to do this recently in a low-density zoned area where we found a 1,012-square-metre corner block with a house on it.   We wanted to keep the house, renovate it and build a duplex facing the other street.  In this location, we couldn’t apply to build a duplex on the block as this would be looked at as a three-villa development: the house (1) and the duplex (2 villas).  The zoning requirement was that you could only build two dwellings on this land, so the house plus one other.  Our solution was to subdivide the block and then applied to build a duplex (two dwellings) on the newly created lot.
So here is how it stacks up in this town:
Three-bedroom in need of a large renovation on 1,012-square-metre block – $210,000
Renovation costs $60,000
Set up, stamp duty, legals, surveys &amp; reports: $11.000
Subdivision costs: $23,000
Cost to build duplex after subdivision registered:  $330,000
Total Cost: $634,000
End value of the house on 400sqm after full renovation:  $280,000
End value of the two new villas @ $320,000 each:   $640,000
Total end value of the three properties:  $920,000
Less total costs of $634,000
Equity Created:  $286,000 
(note: holding costs are not included as house rent and depreciation offset interest costs)
So what about that cheap block of land?
Well, you can see that we purchased the house for $210,000, set up costs of $11,000 plus spent $60,000 on the reno.  The subdivision costs were $23,000.  Total cost of the house renovation and subdivision is $304,000.
The renovated house on only 400 square metres will be valued around $280,000.  So if we take the costs away from the end value we are paying just $24,000 for the other block of land where we can build our duplex.  So the land cost is only $12,000 per dwelling.
And that’s why I love the old corner block development.
Jo Chivers is director of <a href="https://www.propertybloom.com.au/" target="_blank" title="Property Bloom">Property Bloom</a>, which manages property development.
 
 
 
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