Article summary

<ul data-end="785" data-start="311">
	<li data-end="459" data-section-id="5hbcyr" data-start="311">Pikos Group has released the five-penthouse collection at Skye Kangaroo Point, headlined by a two-storey sky home spanning more than 1,000 sqm.</li>
	<li data-end="561" data-section-id="1p7lq8n" data-start="460">Early buyer interest suggests the residences could set a new Queensland apartment price record.</li>
	<li data-end="667" data-section-id="1y70z0l" data-start="562">The collection includes four move-in ready penthouses and the highly customised Skye One residence.</li>
	<li data-end="785" data-section-id="yvm0y1" data-start="668">The release caps one of Bri​sbane's most ambitious luxury apartment developments overlooking the Brisbane River.</li>
</ul>

<hr data-end="790" data-start="787" />
Pikos Group has released the five-penthouse collection at its <a href="https://www.apartments.com.au/buildings/skye-residences-by-pikos-kangaroo-point-8-river-terrace-kangaroo-point-qld-4169">Skye by Pikos</a> development in Kangaroo Point, with early buyer interest indicating the flagship residences could eclipse every apartment sale previously recorded in Queensland.

The collection crowns the luxury riverfront development with five residences, including four completed penthouses and Skye One, a two-level sky home spanning more than 1,000 sqm that will be tailored to its eventual owner.

[smartcode_project:default project_id=90059 project_image_fid=374075]

Wanting to offer a fully customisable home, Pikos is offering Skye One as a blank canvas, allowing the buyer to work alongside the developer's design team to customise the home's layout, finishes and internal spaces.

The residence will feature a 247 sqm private rooftop terrace with its own swimming pool, sauna, steam room, outdoor kitchen and multiple entertaining areas overlooking the Brisbane River and CBD skyline.

The remaining four penthouses have been completed and are ready for immediate occupation, each offering four bedrooms, expansive open-plan living areas, soaring ceilings and private lift access.

[smartcode_project:default project_id=90059 project_image_fid=374059]

One of the defining features throughout the project is its use of Roman Classic Travertine, with more than 20,000 sqm of the natural stone imported from Italy after being personally selected by Pikos Group Founder and Executive Director Pedro Pikos, interior designer Julie Williamson and third-generation stone specialist Mario Caucci.

Pikos said the penthouse collection represented the culmination of the company's long-term vision for Skye.

"True legacy isn't measured by what we build today, but by what endures tomorrow," Pikos said.

"Our ambition is to create places that become more valuable with time, enrich the lives of generations, and stand as timeless landmarks long after we've stepped away."

[smartcode_project:default project_id=90059 project_image_fid=374060]

Williamson said the interiors were inspired by the natural character of Kangaroo Point and the Brisbane River rather than international design trends.

"Materiality tells the story of a place," Williamson said.

"We looked to the movement of the Brisbane River, the texture of the cliff face and the warmth of the surrounding landscape to create interiors that feel understated, enduring and unmistakably Brisbane."

Positioned above the Kangaroo Point cliffs, Skye places residents within walking distance of Howard Smith Wharves, South Bank and James Street while offering uninterrupted river and city views.

[smartcode_project_cta:default project_id=90059]

Joel Robinson

Brisbane's next apartment price record? Pikos unveils Skye's exclusive penthouse collection

Article summary

<ul data-end="888" data-start="289">
	<li data-end="442" data-section-id="8tsh6o" data-start="289">DVB Projects is preparing to launch its second Gold Coast apartment development, with demolition now underway at 137 Old Burleigh Road, Broadbeach.</li>
	<li data-end="573" data-section-id="1nyxl3e" data-start="443">The 34-level tower will comprise just 49 ultra-luxury residences, including half-floor, full-floor and penthouse apartments.</li>
	<li data-end="717" data-section-id="oiyimj" data-start="574">The launch follows strong demand at DVB's nearby Sea Glass project, which is more than 50 per cent sold and currently under construction.</li>
	<li data-end="888" data-section-id="epk9o9" data-start="718">The development adds to the transformation of Old Burleigh Road, with premium beachfront apartment projects continuing to reshape the tightly held Broadbeach strip.</li>
</ul>

<a href="https://www.apartments.com.au/developers/dvb-projects">DVB Projects</a> is preparing to launch its second Gold Coast apartment development, with demolition now underway on the Broadbeach site as the Sydney developer moves closer to bringing the ultra-luxury project to market.

The 34-level tower at <a href="https://www.apartments.com.au/new-apartments/137-old-burleigh-road-broadbeach-qld-4218">137 Old Burleigh Road</a> will comprise just 49 residences, ranging from half-floor apartments through to full-floor homes and a penthouse. The launch follows the strong sales performance of DVB's nearby Sea Glass development. More than half of the apartments at Sea Glass, on the other side of Broadbeach, have been snapped up, well ahead of its late 2027 completion

<img alt="DVB Projects to commence demolition on $320m Broadbeach luxury tower" data-entity-type="file" data-entity-uuid="2944b4be-c84e-4b54-8dc1-c712e76704c0" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/E02_Exterior_Street%20Level%20Entrance.jpg?VersionId=YoNig7pRdrE3HCue7sUj78LzJteeQf3H" />

The start of demolition at 137 Old Burleigh Road signals DVB Projects’ underlying confidence in the Gold Coast’s luxury beachside apartment sector.

“We see the Gold Coast as one of the most compelling lifestyle markets in Australia, particularly at the premium end where demand continues to deepen,” said Dean Brown, Managing Director of DVB.&nbsp;

“This project has been carefully designed to respond to that demand - delivering large-format residences with a level of quality, privacy and amenity that is still relatively rare in the apartment market on the beachside."

Brown says the site itself is "exceptional."

"Old Burleigh Road is one of the most tightly held beachfront strips, and opportunities to deliver a project of this scale and calibre in this location are extremely limited.”

<img alt="DVB Projects to commence demolition on $320m Broadbeach luxury tower" data-entity-type="file" data-entity-uuid="398f377a-c037-455e-9250-0c5e0d84c35b" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/I12_FF%20Balcony.jpg?VersionId=NwOiRWGMubR1c8wthuEfggklcja7al9." />

The project will comprise 40 half-floor residences of approximately 260 sqm, alongside eight full-floor residences spanning around 524 sqm.

A single penthouse will crown the building, featuring a private pool, barbecue area, indoor gym and dedicated entertaining spaces.

Residents will have access to a resort-style suite of amenities, including a 20-metre pool with daybeds, a gymnasium, hot and cold plunge pools, a sauna, and private residents’ lounge and dining facilities.

<img alt="DVB Projects to commence demolition on $320m Broadbeach luxury tower" data-entity-type="file" data-entity-uuid="d1642bb0-9a66-4427-a022-dfc0988c6287" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/A02_Pool%20to%20View.jpg?VersionId=c0IXPyn_Gp_Kn3XCwzMrqIVkAdCEwVXP" />

Sales agent Todd Matheson, of <a href="https://www.apartments.com.au/project-marketer/pezet-matheson">Pezet Matheson</a>, which is marketing both 137 Old Burleigh Road and Sea Glass, said 137 Old Burleigh Road would address a clear gap in the market for genuine luxury products.

“There are very few opportunities on the Gold Coast where buyers can secure a residence of this size and quality in a new building,” Matheson said.

“What we’re seeing is a growing cohort of downsizers and interstate buyers who still want space - they’re not willing to compromise on living area, entertaining or finishes.

“This project has been designed with that buyer in mind. It offers the scale of a home, combined with the convenience and security of apartment living, in one of the coast’s most desirable positions.”

<img alt="DVB Projects to commence demolition on $320m Broadbeach luxury tower" data-entity-type="file" data-entity-uuid="59aae0ca-5639-4320-8aca-d0bf60f48e43" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/E01_Exterior%20Hero.jpg?VersionId=DS8Zfy2WtgUEtdfe0TEUuf1W1GfcZq8S" />

Located on a 1,156 sqm site one block from the beachfront, the development will replace an ageing walk-up building and is expected to contribute to the ongoing transformation of the Old Burleigh Road strip into one of the Gold Coast’s most prestigious residential corridors.

With the development moving into the delivery phase, 137 Old Burleigh Road is slated to hit the market later this year.

[smartcode_project_cta:default project_id=145141]

DVB Projects to launch second Broadbeach apartment tower as demolition commences

A proposal to redevelop one of North Sydney's ageing commercial buildings has taken another step forward, with plans for a 38-storey mixed-use tower adding momentum to the long-awaited transformation of the Alfred Street precinct.

Now on public exhibition through the NSW Government's Housing Delivery Authority-led State Significant Development pathway, the proposal for 271-273 Alfred Street would replace an underutilised commercial building with 95 apartments, ground-floor retail, commercial space and affordable housing. The proposal was submitted by&nbsp;Tara Shore Pty Ltd, acting for the John Taylor Family Trust.

While the project will deliver much-needed housing on the southern edge of the North Sydney CBD, it also represents another piece of a broader precinct that has spent years in planning limbo.

<img alt="First look: New public domain vision underpins 95-apartment North Sydney tower on Alfred Street" data-entity-type="file" data-entity-uuid="7e1ce1b4-38df-48ab-992f-386814d86308" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Alfred%20St%20da%20podium.png?VersionId=sC_h6w.A9VEoB98qsqowPlIoz__sBZBt" />

Despite its proximity to both North Sydney Station and the Victoria Cross Metro, redevelopment of Alfred Street has progressed slowly over the past decade as broader planning controls, zoning and building heights remained unresolved. The introduction of the Housing Delivery Authority pathway has provided a new avenue for projects to progress, allowing rezoning and development assessment to occur concurrently and unlocking sites that have long been earmarked for renewal.

Designed by Office of Cortese &amp; Gilder, the proposal seeks to do more than replace an ageing office building. The architects have positioned the project as the first stage of a wider public domain vision that would improve pedestrian connectivity and create a more cohesive mixed-use precinct as neighbouring sites are redeveloped over time.

The proposal includes a widened Alfred Street setback, new street trees, landscaping and outdoor seating, along with a landscaped through-site pedestrian link connecting Alfred Street with Little Alfred Street. The connection is intended to become the first section of a future east-west pedestrian network extending across the precinct.

<img alt="First look: New public domain vision underpins 95-apartment North Sydney tower on Alfred Street" data-entity-type="file" data-entity-uuid="8ea39ac3-46ad-4562-b4a0-b862e91c2dda" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Alfred%20St%20da%20site.png?VersionId=K7umCd21KpetEFuVfsPlnJKhUOsmTTdV" />

The mixed-use tower would comprise retail space at ground level, commercial uses on level two and apartments from level three upwards.

In total, the development would deliver 95 apartments, including nine one-bedroom, 28 two-bedroom, 56 three-bedroom and two four-bedroom residences. Twenty-one apartments, representing 15 per cent of the residential gross floor area, would be secured as affordable housing and managed by a registered community housing provider for at least 15 years.

Nine basement levels would provide 133 resident car spaces, seven motorcycle spaces and 111 bicycle spaces.

According to the Architecture and Urban Design Report, the public domain strategy is designed to transform what is currently an inward-facing commercial edge into a more active and connected pedestrian environment, creating a stronger relationship between the commercial core and surrounding residential neighbourhoods.

Office of Cortese &amp; Gilder has also prepared a broader public domain framework spanning neighbouring properties between 263 and 283 Alfred Street, arguing that a coordinated approach to redevelopment will deliver better public spaces, improved tower separation and a more connected streetscape as the precinct evolves.

The proposal comes at a time where North Sydney is slated for future residential growth. Commercial developer FiveX has residential plans for the neighbouring site at 275 Alfred Street. They've proposed a 39-storey mixed-use tower with 184 apartments, while Freecity was recently approved for nearly 300 apartments across a 51-storey building on Walker Street.

Read more:&nbsp;<a href="https://www.apartments.com.au/news/nsw/first-look-freecity-gets-green-light-for-mixed-use-apartment-and-hotel-tower-in-north-sydney">First look: Freecity gets green light for mixed-use apartment and hotel tower in North Sydney</a>

Read more:&nbsp;<a href="https://www.apartments.com.au/news/nsw/first-look-fivex-plans-39-storey-residential-tower-in-booming-north-sydney">First look: Fivex plans 39-storey residential tower in booming North Sydney</a>

&nbsp;

Alfred Street the latest North Sydney pocket to be transformed by residential development

Buyers considering a residence at boutique Gordon townhouse development <a href="https://www.apartments.com.au/new-townhouses/lume-gordon-43-47-dumaresq-street-gordon-nsw-2072">Lume</a>&nbsp;now have another reason to bring forward their decision.

For a limited time, purchasers of a residence at Lume will receive a BMW iX3 50 electric SUV, valued at more than $120,000, as part of their purchase. The offer is designed to add value for buyers while complementing the lifestyle envisioned for the architecturally designed Upper North Shore development.

Scott Timmins, Development Manager at <a href="https://www.apartments.com.au/developers/winim">WINIM</a>, said the partnership was created to provide buyers with a compelling reason to act.

"In today's market, buyers need a compelling reason to act now, and the BMW partnership was designed to create that catalyst. We wanted to add genuine value for our future purchasers. Choosing the all-electric BMW iX3 50 also reflects the values behind LUME, forward-thinking design, innovation and a more sustainable way of living. It's a premium incentive that complements the lifestyle our buyers aspire to and rewards those who commit early."

[smartcode_project:default project_id=7354 project_image_fid=374893]

Delivered by WINIM in partnership with Burtonwood Investment Partners, Lume comprises 14 architecturally designed two, three and four-bedroom townhomes created for families seeking the space of a freestanding house with the ease of modern, low-maintenance living.

The three-storey residences, designed by award-winning architecture practice <a href="https://www.apartments.com.au/architects/rothelowman">Rothelowman</a>, have been tailored for families and multi-generational living, featuring private internal lifts, flexible lower-level spaces, generous open-plan living and entertaining areas, media rooms, and landscaped outdoor spaces with custom outdoor kitchens.&nbsp;

Inside, engineered oak flooring, bespoke dining joinery with integrated wine fridges and backlit bars, sculptural porcelain bathrooms, Parisi freestanding baths and Astra Walker tapware create interiors that balance functionality with refined finishes.

Each townhome has been designed to combine generous internal spaces with sustainability initiatives such as EV charging infrastructure, while <a href="https://www.apartments.com.au/landscape-architect/arcadia-landscape-architecture">Arcadia</a>'s landscaped communal areas, centred around a restored creek line and native planting, encourage residents to connect with nature and spend more time outdoors.

[smartcode_project:default project_id=7354 project_image_fid=269527]

Rothelowman's Gary Tsui said the architecture was conceived to respond carefully to its Upper North Shore setting.

"Our vision was to create elegant, uplifting homes that draw on and positively contribute to the local character through meticulously considered design and an interaction with the surroundings."

The communal landscape has been designed as more than an open space between homes. Arcadia's Ben Newell and Kate Phillips said the adjoining reserve provided an opportunity to create a distinctive natural retreat for residents.

"Just as waterways carve their way through Ku-ring-gai's landscape, a raised boardwalk weaves through the reserve, connecting the homes to this tranquil oasis."

[smartcode_project:default project_id=7354 project_image_fid=374892]

Located just 300 metres from <a href="https://www.apartments.com.au/developments/gordon-nsw-2072">Gordon</a> Village and Gordon railway station, Lume offers convenient access to Sydney's CBD while placing residents close to some of the North Shore's leading schools, including Ravenswood, Pymble Ladies' College and Knox Grammar. Lane Cove National Park, Gordon Golf Club and a range of cafés and restaurants further reinforce the family-focused lifestyle on offer, with the BMW iX3 50 complementing everything from local trips around Gordon to weekend drives and city commutes.

Construction is underway with completion expected in mid-2027.

[smartcode_project_cta:default project_id=7354]

Boutique Gordon townhomes now come with a BMW iX3 50

Two apartments have sold for more than $10 million at EADE Byron Bay, setting some of the highest apartment prices ever achieved in the coastal town and underlining the growing appetite for luxury beachfront apartments in Australia's most popular coastal locations.

The $210 million project by Vitale Property Group has now secured more than $70 million in sales, led by residences that changed hands for $12.75 million and $11.75 million.

The record-breaking transactions reinforce the shift occurring in Byron Bay's premium property market, where affluent downsizers and lifestyle buyers are increasingly opting for high-end apartments over large beachfront homes.

<a href="https://www.apartments.com.au/new-apartments/eade-byron-bay-29-shirley-street-byron-bay-nsw-2481">EADE Byron Bay</a> occupies a rare 6,000 sqm absolute beachfront site on the corner of Shirley and Milton Streets overlooking Main Beach and The Wreck surf break, just 350 metres from Byron Bay's town centre.

The 25-residence development is the first beachfront apartment project approved in Byron Bay in more than a decade and is currently under construction, with completion expected in May 2027.

[smartcode_project:default project_id=145590 project_image_fid=359521]

The project has attracted a mix of local Byron Shire residents downsizing from larger homes, alongside interstate buyers from Sydney, Melbourne and Brisbane seeking a permanent coastal lifestyle without compromising on space.

Designed by <a href="https://www.apartments.com.au/architects/hayball">Hayball</a> and with interiors by <a href="https://www.apartments.com.au/interior-designers/alexander-co">Alexander &amp; Co</a>, EADE comprises&nbsp;10 garden apartments ranging from 284 sqm to 622 sqm, nine with private pools, five full-floor apartments and 10 rooftop residences with private plunge pools, expansive outdoor entertaining areas and uninterrupted ocean views.

[smartcode_project:default project_id=145590 project_image_fid=359527]

<a href="https://www.apartments.com.au/developers/vitale-property-group">Vitale Property Group</a> Managing Partner Chris Vitale said the project's combination of scale, location and limited future supply was driving buyer demand.

"There isn't another beachfront holding in Byron Bay of this size and position that could be developed again," Vitale said.

"Buyers are responding to the scarcity and the irreplaceability of a site of this calibre and to floorplans they can't find elsewhere in the market.

"We are seeing buyers place significant value on quality, space, design, resort-style amenities and the rarity of the location. The sales achieved to date demonstrate that discerning purchasers recognise the long-term significance of what is being created at EADE Byron Bay.

"Many are coming from larger homes in the Byron region, or from Sydney, Melbourne and Brisbane, and are after the space, security and convenience, without the upkeep of a house."

&nbsp;

[smartcode_project:default project_id=145590 project_image_fid=359523]

The Byron Bay project follows Vitale Property Group's delivery of the Mondrian Hotel and Private Residences at Burleigh Heads, with EADE continuing the developer's focus on luxury coastal developments.

Residents will have access to a resort-style swimming pool, gymnasium, sauna, cold plunge pool, concierge services and dedicated workspaces, while the project is targeting an 8-Star Green Star rating.

EADE Byron Bay is being exclusively marketed by Projx Australia in conjunction with WHITEFOX Projects.

WHITEFOX National Projects Director Phillip Rand said demand had been driven predominantly by owner-occupiers.

"We are seeing buyers at EADE place significant value on quality, space, design, resort-style amenities and the rarity of this location," Rand says.

"The sales achieved to date demonstrate that purchasers at this level recognise the long-term significance of what is being created at EADE Byron Bay."

Residences at EADE Byron Bay are currently priced between $4.75 million and $15.95 million.

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[smartcode_project_cta:default project_id=145590]

Vitale breaks Byron Bay records with EADE sales flurry 

Sydney’s property market is known for high prices, competitive bidding, and mounting pressure on first home buyers. But change is on the horizon.

From late 2025, eligible first home buyers in New South Wales will have access to a new federal government initiative aimed at addressing affordability: the Help to Buy Scheme.&nbsp;

<h2>What is the Help to Buy Scheme?</h2>

The program introduces a shared equity model intended to reduce the upfront cost of entering the property market, particularly in high-demand urban areas such as Sydney.

The scheme operates under a shared ownership structure in which the federal government takes an equity stake of up to 40 per cent for new homes, or 30 per cent for existing dwellings. This arrangement allows eligible buyers to significantly reduce their loan size and avoid the added cost of Lenders Mortgage Insurance (LMI).

Under this model, purchasers can enter the property market with as little as a two per cent deposit, well below the traditional 10 to 20 per cent usually required. The government’s contribution is not a loan but a co-ownership stake in the property. As such, there is no interest or rent charged on its portion.

Because the government’s equity combined with the buyer’s deposit typically meets or exceeds the 20 per cent threshold, LMI does not apply. The remaining balance, generally between 60 and 70 per cent of the property’s value, is financed through a standard home loan with a participating lender.

The government's equity in the property remains in place until the buyer chooses to repay it voluntarily or until the property is sold. Buyers can buy back the government’s share over time, in increments of at least five per cent, depending on their financial situation.

There is no fixed repayment timeline, but the amount to be repaid will be based on the property's market value at the time of repayment, not the original purchase price.

<h2>How do you qualify for the&nbsp;Help to Buy Scheme?</h2>

To qualify for the Help to Buy Scheme, applicants must meet the following conditions:

<ul>
	<li>Be an Australian citizen at least 18 years of age.</li>
	<li>Be a first-home buyer who does not currently own property.</li>
	<li>Intend to live in the property as their primary residence.</li>
	<li>Earn less than $100,000 per year for individuals, or $160,000 for couples.</li>
	<li>Purchase a property within the regional price caps, currently $950,000 in Sydney, though this is expected to rise to approximately $1.3 million ahead of the program’s launch.</li>
</ul>

While the Help to Buy Scheme does not solve affordability challenges across the board, it does offer a more accessible pathway for a defined segment of the market, particularly younger buyers with moderate incomes who have been priced out of traditional lending routes.

The scheme is expected to commence in NSW in late 2025, as part of a national rollout.

Under the new model, purchasers can enter the property market with as little as a two per cent deposit, well below the traditional 10 to 20 per cent usually required

Help to Buy Scheme: What first home buyers in NSW need to know

The First Home Owners Grant (FHOG) is a government initiative designed to help eligible first-time home buyers by offering financial assistance towards the purchase or construction of a new home.

While the FHOG is a nationwide program, it is administered separately by each state and territory, meaning the eligibility criteria, grant amounts, and property requirements can vary depending on your location. This means that the amount available and the conditions attached to the grant will differ, so it is important to check the specific guidelines for your state or territory.

It’s important to note that the FHOG is just one of several incentives available to first home buyers. In most states and territories, the grant is not linked to stamp duty exemptions or concessions, with the exception of the Australian Capital Territory (ACT). The FHOG is typically a one-off payment, reducing the overall cost of purchasing or building a new home before any stamp duty concessions are applied.

Below, we provide a breakdown of the First Home Owner Grants available across Australia, outlining the specific details for each state and territory.

<h2>New South Wales First Home Owner Grant</h2>

First Home Owner Grant: Offers a $10,000 grant for new homes valued up to $600,000. For land purchases and owner-builders, the threshold extends to $750,000.

Stamp Duty Benefits: Provides full stamp duty exemption for homes valued up to $800,000, with concessions available for properties up to $1 million.

<h2>Victoria South Wales First Home Owner Grant</h2>

First Home Owner Grant: Provides a $10,000 grant for first-home buyers purchasing or building new homes valued up to $750,000.

Stamp Duty Benefits: Offers full stamp duty exemption for properties up to $600,000, with concessions available up to $750,000.

<h2>Queensland First Home Owner Grant</h2>

First Home Owner Grant: Offers $30,000 for contracts signed between 20 November 2023 and 30 June 2025. The FHOG applies to new homes valued up to $750,000.

Stamp Duty Concessions: Provides additional concessions for properties valued up to $800,000.

<h2>Western Australia First Home Owner Grant</h2>

&nbsp;

First Home Owner Grant: Offers a $10,000 grant for new homes valued up to $750,000 in the southern regions and up to $1 million in the northern regions.

Stamp Duty Concessions: Available for homes valued up to $600,000 for transactions entered into on or after 9 May 2024.

<h2>Australian Capital Territory First Home Owner Grant</h2>

First Home Owner Grant: Replaced by the Home Buyer Concession Scheme, offering full stamp duty concessions for eligible buyers.

<h2>South Australia First Home Owner Grant</h2>

First Home Owner Grant: Provides up to $15,000 for new homes, including houses, apartments, and townhouses. As of 6 June 2024, there is no property value cap for eligibility.

Stamp Duty Relief: Available for new homes and vacant land purchases.

<h2>Tasmania First Home Owner Grant</h2>

First Home Owner Grant: Offers a $10,000 grant for new homes and off the plan purchases.

Stamp Duty Exemption: Between 18 February 2024 and 30 June 2026, first home buyers of established homes valued up to $750,000 receive a full exemption on property transfer duty.

<h2>Northern Territory First Home Owner Grant</h2>

First Home Owner Grant: The Northern Territory provides a $10,000 grant for new homes only. Additional government grants and concessions are available for first home buyers.

Stamp Duty Exemption: The only stamp duty exemption available to property buyers is the House and Land Package Exemption (HLPE).

Eligibility criteria and application processes differ across states. Prospective buyers should refer to their respective state revenue offices for full details on grant availability, conditions, and additional concessions.

Every First Home Owner Grant for new property by state

In the ever-evolving landscape of sustainable architecture and environmentally conscious design, systems and ratings in place can help determine the energy efficiency of residential buildings in Australia.

Australia has multiple building rating systems that evaluate energy efficiency and sustainability in existing and new building designs.

Some systems assess individual building components, while others provide an overall rating for the entire structure.

A rating system ensures that homes are comfortable and energy-efficient, whether you are buying, renovating, or building.

NatHERS (Nationwide House Energy Rating Scheme) is a common way for new homes to meet energy efficiency requirements.

As new developments continue to shape the urban environment, understanding NatHERS ratings becomes essential for developers and homeowners. This article delves into the concept of NatHERS ratings, their significance, and how they contribute to creating energy-efficient homes.

<h2>What is NatHERS?</h2>

NatHERS is a national initiative implemented by the Australian government to promote energy efficiency in residential buildings. The scheme aims to provide a standardised method for assessing the thermal performance of homes, considering factors such as insulation, orientation, ventilation, and building materials.&nbsp;

NatHERS ratings are the most common way new homes meet the National Construction Code's (NCC's) minimum energy efficiency requirements.&nbsp;

NatHERS assessments provide thermal and whole-home ratings for new homes, townhouses, and apartments.

The rating helps evaluate the energy performance of buildings, guides homeowners and developers to make informed decisions about the energy efficiency of their properties, and encourages the construction of more sustainable, comfortable, and cost-effective homes.

<h2>How NatHERS Ratings Work</h2>

NatHERS ratings are determined through four accredited software tools (AccuRate, BERS Pro, FirstRate5, HERO) using a calculation engine CSIRO developed to predict building temperature based on various factors.

The tools can model complex effects of building mass, insulation, window size, and other elements.

The outcome is a star rating that reflects the building's overall thermal efficiency, indicating how well it can maintain a comfortable indoor temperature without excessive reliance on heating or cooling systems.

The star rating scale ranges from 0 to 10, with a 6-star rating being the minimum requirement for compliance with the National Construction Code (NCC).&nbsp;

Achieving a higher star rating demonstrates a commitment to energy efficiency and sustainability, as the building is better equipped to minimise its environmental impact and reduce long-term energy costs.

Anyone can use NatHERS tools, but accredited assessors can provide certified ratings and professional advice.

<h2>Benefits of Higher NatHERS Ratings</h2>

Energy Efficiency: Buildings with higher NatHERS ratings are more energy-efficient, requiring less heating and cooling energy. This reduces the structure's carbon footprint and lowers occupants' energy bills.

Cost Savings: Homes with higher NatHERS ratings are generally more energy-efficient, resulting in reduced energy consumption for heating and cooling. This translates to lower energy bills for homeowners, making sustainable living environmentally friendly and economically viable in the long run.

Environmental Impact: Lower energy consumption directly translates to a reduced environmental impact. Buildings with higher NatHERS ratings contribute to the overall goal of mitigating climate change by lowering greenhouse gas emissions associated with heating and cooling systems.

Improved Comfort: Buildings with high NatHERS ratings offer better thermal comfort to occupants. Proper insulation, well-designed ventilation, and optimal orientation maintain a consistent and comfortable indoor temperature, providing occupants with a more enjoyable and healthier space.

Market Value and Desirability: Higher NatHERS ratings can enhance the market value of a property. As energy efficiency becomes a more significant consideration for homebuyers, a well-rated building may attract a premium price and stand out in the real estate market.

Compliance with Building Codes: NatHERS ratings are a vital component of the National Construction Code (NCC), and compliance with these ratings is often a mandatory requirement for new developments. Local councils and planning authorities may set minimum energy efficiency standards that must be met to obtain development approval.

The Nationwide House Energy Rating Scheme (NatHERS) is a crucial initiative shaping the future of energy-efficient, resilient, and cost-effective homes. With its recent upgrades, NatHERS has evolved into a world-leading tool for the building sector, supporting the global commitment to achieving net-zero emissions by 2050.

Staff Writer

What is a NatHERS rating in new off the plan apartment developments?

Mixed-use developments have gained significant popularity across Australia in recent years due to their unique blend of residential, commercial, and recreational spaces.

Unlike traditional single-purpose developments, mixed-use projects offer a harmonious integration of various functions within a single locale.

Residential units seamlessly coexist with commercial establishments, retail outlets, dining venues, entertainment hubs, and recreational facilities, with the combination not only enhances convenience but also fosters a vibrant lifestyle and a sense of community.

<h3>Convenience and accessibility</h3>

Mixed-use developments are designed with convenience in mind. They often integrate residential units with commercial spaces, retail outlets, restaurants, and recreational facilities, creating a self-contained community.

[smartcode_project:default project_id=114215 project_image_fid=204874]

The proximity allows residents to enjoy the convenience of having essential amenities and services within walking distance. Whether it's grabbing a cup of coffee, going grocery shopping, or accessing healthcare services, everything is conveniently located, saving residents time and effort.

<h3>Vibrant lifestyle and community</h3>

One of the major advantages of mixed-use developments is the vibrant lifestyle they offer. With a diverse range of amenities and communal spaces, residents have ample opportunities to interact, socialise, and build a sense of community.

[smartcode_project:default project_id=107714 project_image_fid=214122]

The presence of parks, community centres, and shared spaces fosters a lively atmosphere, encouraging residents to engage in various activities and events. The vibrant lifestyle within these developments creates a unique sense of belonging and camaraderie among the residents.

<h3>Potential for higher rental yields and property value appreciation</h3>

Mixed-use developments tend to attract a broad range of tenants and buyers due to their versatile nature. This high demand can result in higher rental yields for investors and potentially lead to property value appreciation over time.

[smartcode_project:default project_id=139989 project_image_fid=212887]

The integration of commercial and retail spaces attracts businesses, which can provide a stable rental income stream. Additionally, the popularity of mixed-use developments often drives up property values, making them a potentially lucrative investment in the long term.

<h3>Enhanced security and maintenance</h3>

Mixed-use developments typically have comprehensive security measures in place. With controlled access points, CCTV surveillance, and professional security staff, residents can enjoy enhanced safety and peace of mind.

[smartcode_project:default project_id=108019 project_image_fid=212658]

Additionally, these developments often have dedicated maintenance teams responsible for the upkeep of common areas, landscaping, and infrastructure. This ensures that the overall appearance and functionality of the development are well-maintained, creating a pleasant living environment for residents.

<h3>Live-work-play balance</h3>

One of the key attractions of mixed-use developments is the ability to achieve a desirable live-work-play balance. The integration of residential and commercial spaces allows residents to live closer to their workplaces, reducing commuting time and improving work-life balance.

The proximity to various amenities and recreational facilities encourages an active and healthy lifestyle. Residents can easily access fitness centres, parks, restaurants, and entertainment options, all within the same development, leading to a more fulfilling and convenient way of life.

alisonwarters@gmail.com

The top five reasons to buy in a mixed-use development

When buying a property, everyone needs to be aware of the additional costs that come as part of the buying process.

Often the largest outlay, after the deposit which goes to the bank, is stamp duty.

<h2 style="line-height: 1.38;">What is Stamp Duty?</h2>

Stamp duty is an extra tax to pay the government when you buy land, a property, and other certain assets.

It happens when the legal ownership is transferred. It can also be known as property transfer duty or transfer duty.

<iframe allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture" allowfullscreen="" frameborder="0" height="415" src="https://www.youtube.com/embed/C32BWkB5--c" title="YouTube video player" width="660"></iframe>

<h2>Who pays Stamp Duty?</h2>

In some circumstances, you may get an exemption. For some states, you won’t have to pay for stamp duty if you are a first home buyer or a pensioner for houses under a particular price. There are also stamp duty concessions, where you may be entitled to a discount.

<h2>How much does Stamp Duty cost?</h2>

Each state has different rules which affect how much you need to pay. These rules can affect the rate you pay, and the timeframe you will need to pay in. Before you buy land or a property, make sure you check the up-to-date information for your state’s stamp duty.

You can use a free stamp duty calculator online to see approximately how much you’ll need to pay. Find out if you’re eligible for an exemption by enquiring on a project via Urban!

Overall, the stamp duty you need to pay will depend on:

<ul>
	<li aria-level="1">How much your land/property is worth</li>
	<li aria-level="1">Where your land/property is located</li>
	<li aria-level="1">What type of land/property it is</li>
</ul>

Want to find out more? <a href="https://www.youtube.com/@UrbanAustralia?utm_source=YouTube&amp;utm_medium=Video&amp;utm_campaign=Subscribe&amp;utm_id=Subscribe">Subscribe to our YouTube channel</a> for more property videos.

Ellen Walker

Off-the-plan property explained: What is stamp duty?

When buying an apartment, most people compare the big-ticket items first. Floorplans. Kitchens. Balcony size. Natural light. The view.

But there's one everyday consideration that often doesn't come up until after moving in: how parcels are delivered.

As online shopping has become part of everyday life, parcel deliveries have shifted from an occasional event to a regular occurrence. Australians spent a record $82.6 billion shopping online in 2025, with almost one in every four retail dollars now spent digitally.

For apartment residents, that can present a challenge.

If nobody is home to accept a delivery, parcels may be redirected to a nearby Post Office, left in a building lobby or common area, or require building management to step in. In higher-density buildings, where dozens or even hundreds of residents may receive deliveries each day, parcel management has become an increasingly important part of everyday living.

That can create a range of frustrations. A missed delivery often means making time to collect a parcel elsewhere, while packages left unattended in foyers or mail areas can create clutter and increase the risk of theft. What seems like a minor inconvenience can quickly become a recurring issue for residents who shop online regularly.

It's one of those details that rarely features in a display suite but can have a noticeable impact once residents move in.

As a result, buyers are beginning to look beyond traditional apartment features and consider how a building supports day-to-day convenience, including whether there are secure options for receiving deliveries.

Australia Post's Parcel Lockers provide one solution.

<iframe allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" allowfullscreen="" frameborder="0" height="315" referrerpolicy="strict-origin-when-cross-origin" src="https://www.youtube.com/embed/CkF2oKmlACg?si=C50sDaoUUn2nuLmq" title="YouTube video player" width="560"></iframe>

Rather than having a parcel delivered directly to an apartment, eligible deliveries can be sent to a nominated Parcel Locker. Once the parcel arrives, residents receive a notification through the AusPost app or SMS and can collect it using a QR code or one-time PIN at a time that suits them.

The Parcel Locker network now includes more than 1,500 locations nationwide, with installations at Post Offices, shopping centres, transport hubs and an increasing number of residential developments. By providing a secure collection point, Parcel Lockers help reduce missed deliveries and avoid parcels being left unattended in common areas.

For developers, parcel infrastructure is becoming another way to improve the resident experience. Rather than relying on concierge staff or leaving parcels in communal spaces, secure collection points help streamline deliveries while preserving the presentation and functionality of shared areas.

For buyers, it's a reminder that the best apartment features aren't always the most obvious.

A generous floorplan or quality finishes might help narrow the shortlist, but the conveniences that simplify everyday life, whether that's EV charging, secure bike storage or reliable parcel delivery, often become the features residents appreciate most once they're living there.

The apartment feature many buyers don't think about, until their first missed delivery

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As we look back on 2011, Property Observer is republishing some of our most noteworthy stories of the year.
 
There is an incredible amount of concentration on the state of the world’s economic situation and what it bodes for the average mum and dad investor in our regional location.  However, does anyone really understand all the implications of the data being both reported – and interpreted – by various journalists and economic commentators with pre-conceived ideas of their own?
Let me give you some idea of the range of opinions hitting the papers each week.  A recent article in the UK Telegraph <a target="_blank" href="https://www.telegraph.co.uk/finance/comment/ambroseevans_pritchard/" title="Ambrose Evans-Pritchard">by Ambrose Evans-Pritchard</a> – which circulated through Twitter at a rate of knots – suggested the US economy is not only rising, but “within five years or so” America will be well on its way to “self-sufficiency in fuel and energy”. The report makes plenty of other bullish assertions under the premise that the ”American phoenix “ is on the rise once again.   “World power swings back to America” reads the title and indicates a return to prosperity that would no doubt hit the real estate sector (making purchasing US property now a very appealing prospect).
I love reading upbeat reports that offer a sense of certainty and future security – the repercussions have positive effects on the investment market as a whole and give a much-needed sense of hope that we can wave goodbye to the long-winded economic depression shadowing the world’s major players.   However, if you care to investigate a little deeper and read the EIA’s Annual Energy Outlook 2011, you’ll see anything but a bullish review of America’s journey to “self-sufficiency”, with the disclaimer American “estimates of technically recoverable resources and well productivity remain highly uncertain” The report is long, however in short, the “predictions” outlined in Pritchard’s article are a long way from being set in stone and a close read of the “real” statistics in the report makes this woefully clear.  I hope no one acted too fast on the misinformation it contained.
Closer to home we can also read two sides of the coin on the property market.   Chief economist at Commsec  <a href="https://www.propertyobserver.com.au/residential/why-house-prices-should-recover-in-2012-craig-james/2011112152447">Craig James</a> came to the fore recently making the call that 2012 “should” be a year for housing market recovery – the view is widely held by others such as ANZ senior economist <a target="_blank" href="https://www.businessspectator.com.au/bs.nsf/Article/Home-prices-to-recovery-in-2012-report-pd20110117-D7Q28?OpenDocument&amp;src=hp14">Ange Montalti, </a> who claims economic growth will lift prices during the course of 2012.  Figures have also been released from RP Data that show a slowing in the overall downward trend and have therefore been interpreted that we’ve started “to turn the corner”.
However, less bullish predictions come from <a target="_blank" href="https://www.propertyobserver.com.au/residential/house-prices-could-fall-by-15-in-three-capitals-louis-christopher/2011090651454">Louis Christopher</a>, managing director of SQM Research, who says should rates remain on hold, “by June 2012 home prices in Melbourne, Brisbane and Perth will be as much as 15% below their 2010 peaks”. He’s not alone in his pessimism – Harry Dent and Steven Keen have both warned we’re at the start of an impending crash – not to mention Prosper Australia’s continuous doom and gloom assertions.
So whom do you want to believe?  Well if you have pre-conceived ideas of your own, you’ll take the side that backs your personal perspective.  It’s natural to do so – it’s incredibly hard to be completely subjective about anything.  As the saying goes ‘‘we see and understand things not as they are but as we are'’.  It’s very difficult to lump a one-world outlook on any market and expect to hit the nail on the head like some modern day Nostradamus.  Take China for example, where stringent government regulations have forced a fall in housing demand and subsequently prices. The issue has torn Chinese society in half. On the one side are the home owners who want to see prices continue to rise. On the other are the renters, who not only want house prices to drop – they want them to drop some 50%!  Sounds like <place><country-region>Australia</country-region></place>.
No one’s been immune from the market malaise throughout 2011 – in fact on a par with other years, it’s been a very difficult atmosphere for industry professionals to muddle through.  Turnover is down – In Victoria for example, Valuer-General data shows a drop of some 33% for the June quarter this year, compared with the same time last year.  Buyers have sat on the sidelines perceiving prices may drop further and sellers have needed to meet the market and make some hard decisions. However, assuming the government doesn’t follow China’s example, I have only one outlook for the next year – and the subsequent 10 years following – and no doubt it will be brushed under the carpet by those who think I’m merely spruiking the party line.  Providing we don’t have a catastrophe on monumental proportions (I’m talking earthquakes and tsunamis) – the only way for property to go in 2012 and beyond is up.
Our property market is based on a simple formula – supply vs demand.  Australia is a mere teenager compared with Europe, and we’re growing at a dramatic, unstoppable pace.  Our population growth is higher than that even of <place><country-region>India</country-region></place>. In fact, the only country set to outgrow Australia by 2050 is Saudi Arabia!
Much of this growth comes from Australia’s immigration program aimed at attracting people of working age with the needed skills to benefit our economy. The simple equation is the bigger the population, the bigger the economy. Whether this has a major effect on our wealth as individuals is arguable and indeed doubtful, but what cannot be argued is the overall effect the population boom will have on the housing industry.  Most are trying to squash into areas that are already straining at the seams (our capital metropolitan regions), and the best seats are taken.  No wonder the property market in Australia swings between unsustainable booms followed by periods of negative growth and sharp market corrections – for decades no one has planned effectively for the growth and we’re some 20 years behind the eight ball.
Unlike areas in Europe and the US where first-home buyers are able to move out of the capital cities and feasibly live in locations with a lower median while taking advantage of reliable public transport systems and the decentralisation of jobs, Australia has ensured the bulk of its population and jobs remain confined to inner-urban regions. Therefore, when the market’s not growing, rents are rising and an increasing number of first homebuyers find they’re unable to build up a sufficient deposit to get a foothold into real estate.
This year alone, rents have increased up to (and in some cases beyond) 10.1% in Perth and a more modest 5.9% in Sydney (R P Data).  Affordability is constrained and the market may well experience only marginal growth throughout the course of 2012 – especially if confidence remains on a knife edge due to factors largely out of our control (both at home and abroad.)  However, if interest rates drop further (and the banks pass them on) – logic alone assumes we’ll see a revival of those desiring to pay their own mortgage and not someone else’s!
We’re already hearing from various mortgage brokers that pre-approvals have increased dramatically.  AFG – Australia’s largest mortgage broker – <a target="_blank" href="/news">has recorded a whopping 18% rise in approvals throughout </a> November (mostly from investors and first-home buyers.) This isn’t surprising when you see how hard the banks are working to get business.  ING and City Bank have dropped their one- and three-year fixed rates, and Westpac and CBA are not far behind.  It’s hard to assess at this point how many of those pre-approvals will turn into transactions – and we’re not out the doldrums yet.  However, it’s reasonable to assume once the starting gun fires an air of confidence and certainty into the atmosphere, we’ll see upward pressure on house prices across the board. The only question is how fast those rises will be throughout 2012.
There may be a good proportion of our population who are suffering, but equally so are a large proportion of our population reaping the rewards of a booming economy. This doesn’t mean by any stretch that you can’t lose money through property investment, it simply means that the right property, in the right location, for the right price, will continue to grow as demand grows – if you don’t believe me get a newspaper from 10, 20 or 30 years ago and look at the prices.
It’s true growth in Australian property has to some extent been fuelled by investor speculation along with easier lending conditions; however that speculation is backed by pretty sound fundamentals.  Take away the speculators, and long term you’d still be looking at home buyer demand outpacing supply in the metro regions.  This is why property is such a widely accepted model for long term investment.
As time progresses – like Europe - we’ll see a greater split between those who can afford to purchase and those who can’t. We’ll see a growing number of young adults move into the rental market, or wait until their late 30s and 40s before they purchase. I also suspect we’ll see a change in demographics, with more joint purchases and a greater number of people sharing property as family’s pool funds to ‘afford the dream’.  Less will own their home outright and more will hold the burden of a mortgage.  It’s already started to happen.
As for 2012 – if you’ve been thinking of taking the plunge don’t expect the market to stay this way perpetually.  Pondering whether our housing market will crash is an ongoing debate that will do the rounds for years to come.  The only way to reduce risk when investing in property is to invest in those areas which have the best potential to maintain consistent solid demand.  At the moment there is little to suggest that our population will diminish or demand for property decrease, so the more time you spend worrying about tomorrow is time away taking advantage of today.
Catherine Cashmore is senior buyer advocate for <a target="_blank" href="https://www.elitebuyeradvocates.com.au/">Elite Buyer Advocates</a>. With extensive experience in all matters regarding real estate, Elite Buyer Advocates purchases and negotiates more than $100 million worth of property each year for its clients.
 
 
 
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catherinecashmore-6LXia3pPQj

Barring catastrophe, the only way for property to go in 2012 and beyond is up

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Investors looking for solid returns in commercial property might want to consider Perth. 
According to a new forecast, Perth office space will need to grow by 50% to 2 million square metres by 2020 to meet demand “driven by the state’s new wave of resources projects”. 
The report, Property Demand and Resource Production Growth, prepared by consulting firm ACIL Tasman on behalf of Savills, says the next resource production expansion phase will be unprecedented, with the gross value of high likelihood projects totals some $220 billion “dwarfing” previous expansion phases. 
“Office demand projections based on resource production suggest an annual growth of around 4% in required office space. This implies total demand for just over two million square metres in 2020, an increase of around 50% from current levels.”
<img width="470" src="/images/stories/perthoffices.gif">
Note: Resource production value is measured at 10-year average prices
Data source: Department of Mining and Petroleum WA and ACIL Tasman modelling 
As an example, it points to the announcement of the Gorgon gas project final investment decision as an example that led to noticeable fall in Perth office vacancy rates. 
The Perth office market is already booming, according to a July report by Jones Lang LaSalle, which says Perth is the tightest CBD office market, with vacancy rate just over 5%.
Prime gross effective rents in Perth increased by 3.9% in the second quarter of 2011 and have risen by 11.2% since the trough in the rental cycle was recorded in the third quarter of 2010. 
The Savills- commissioned report notes that while in the past office demand in Perth has been somewhat erratic, “the upcoming investment phase promises to break this cycle and create a substantial and lasting increase in office demand in Perth”. 
The report concludes that committed supply additions will not meet this level of demand, therefore putting upward pressure on office rents. 
Paul Craig, Savills WA managing director, says the amount of projected demand for additional office supply by 2020 “clearly highlights the impending shortage of Perth office supply as WA’s new wave of resources projects come to life”. 
“With an extended period of mining prosperity on the horizon in WA, underpinned by major infrastructure investment, low unemployment levels and population growth surpassing the national average, demand for prime Perth CBD office space will continue to grow and increase pressure on availability,” he says. 
“Obviously, this is great for landlords or anyone representing landlords. Vacancy is already low, is set to tighten further in the next 12 months and then with no new supply committed to proceed from 2014 onwards, rents should continue to climb,” he says. 
Besides pushing up demand for office space, the upcoming extraordinary resources growth phase will benefit the entire Western Australian economy, transforming it from almost solely driven by minerals and energy production to a more integrated economy also driven by technology and knowledge. 
Craig acknowledges that this would not be good news for tenants. 
“There are already limited opportunities and tenants with substantial corporate requirements will struggle to find space, and the cost of renting that space will continue to rise. When new opportunities do arise tenants will have to move quickly to secure them or prepare for a bidding war.” 
Craig says Perth will have to wait for major new developments such as Waterfront, City Link and Riverside to be delivered before there is significant easing in office market undersupply.
 
 
 
 
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lschlesinger-FZcF9M3vE6

Mining boom to push up Perth office rents over next decade: Savills

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<table border="1" cellspacing="0" cellpadding="0" width="322"><tbody>
<tr>
<td width="153" nowrap valign="top">
Suburb
</td>
<td width="69" valign="top">
Postcode
</td>
<td width="101" nowrap colspan="2" valign="top">
Rental yield for houses
</td>
</tr>
<tr>
<td width="153" nowrap valign="top">
<a href="/news">PEGS CREEK</a>
</td>
<td width="69" valign="top">
6714
</td>
<td width="95" nowrap valign="top">
12.2%
</td>
<td width="5">
 
</td>
</tr>
<tr>
<td width="153" nowrap valign="top">
<a href="/news">BULGARRA</a>
</td>
<td width="69" valign="top">
6714
</td>
<td width="95" nowrap valign="top">
10.4%
</td>
<td width="5">
 
</td>
</tr>
<tr>
<td width="153" nowrap valign="top">
<a href="/news">SOUTH HEDLAND</a>
</td>
<td width="69" valign="top">
6722
</td>
<td width="95" nowrap valign="top">
10.1%
</td>
<td width="5">
 
</td>
</tr>
<tr>
<td width="153" nowrap valign="top">
<a href="/news">NICKOL</a>
</td>
<td width="69" valign="top">
6714
</td>
<td width="95" nowrap valign="top">
10.1%
</td>
<td width="5">
 
</td>
</tr>
<tr>
<td width="153" nowrap valign="top">
<a href="/news">BAYNTON</a>
</td>
<td width="69" valign="top">
6714
</td>
<td width="95" nowrap valign="top">
9.9%
</td>
<td width="5">
 
</td>
</tr>
</tbody></table>
 
Source: RP Data
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cknowlton-QnEa6ntUYP

Top five suburbs with highest yields for houses in the Pilbara: RP Data

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Developer Lend Lease has sold more than 100 units in its flagship Docklands project Convesso Concavo about a month after the launch of the second stage of the project.
<img src="/images/stories/convesso2.jpg">
The development will comprise 455 apartments across two towers, with 220 one-, two- and three-bedroom units in Convesso and 235 in Concavo.
Lend Lease has sold about 100 units – including a 330-square-metre marina house for $5 million. The vast majority of the recent sales were in Concavo, which launched in late October. Convesso launched about a year ago.
<img src="/images/stories/convesso3.jpg">
Prices start from $465,000 for a one-bedroom apartment to more than $5 million for the three-bedroom penthouses in Convesso. In Concavo, prices range from $495,000 to more than $3 million. The average price for the recent sales is over $1 million.
The development has been designed by architectural firm Bates Smart, and its curved, glass-filled exterior is meant to be “an expression of the reflections of light on the water that lies before them,” according to the marketing brochure.
<img src="/images/stories/convesso4.jpg">
It is expected to achieve a seven-star NABERS rating and is billed as "Australia's most sustainable luxury residential towers".
“Despite the sustainability credentials, Convesso apartments are not necessarily more expensive than similar apartments in the Docklands, they are still market competitive,” says architect Kevin Masci of Bates Smart.
“At the moment buyers embrace green-star features, providing it’s at a reasonable cost, but in time green-star residential buildings will be recognised as the new state-of-the-art.”
<img src="/images/stories/convesso6.jpg">
The Convesso Concavo development will also include 25 retail spaces.
<img src="/images/stories/convesso7.jpg">
The buildings will include amenities such as 24-hour concierge, a 25-metre lap pool, gymnasium, spa, sauna, deck areas with barbecues, residents’ lounge, cinema and business centre.
Convesso is already under construction, with an expected completion date in mid-2012. Construction will begin on Concavo in early 2012 and is expected to be completed in mid-2014.
For more on the past, present and future of Docklands, download our free eBook. 
For advice on buying off the plan, download our free eBook.
 
 
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Lend Lease sells over 100 apartments in Convesso Concavo Docklands development in a month

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Property valuation firms need to diversify into becoming impartial buyer’s advocates to survive, according to Greville Pabst, chief executive of WBP Property Group.
Pabst says there is push among firms to move from valuation into the advisory space to “help consumers select, buy and invest in good investment-grade property”.
“The whole process of buyer and vendor advocacy is a new arena for valuers to play in,” Pabst tells Property Observer
“People still hang on the words of the estate agent, even though they are acting on behalf of the vendor.
“[On the other hand], a valuer’s backing is completely independent,” he says.
WBP has been building up its advice business in 2011 and will look to grow it further in 2012 and over the next five years.
“We see it as quite a dynamic area over the next few years.”
Pabst says he is still astounded that people will buy a $1 million home in the inner suburbs of Melbourne and Sydney without  seeking any professional advice yet they would never buyer shares or gold bullion without first seeking financial advice.
“People think because they live in a house they are property experts – most people are not getting advice before they invest,” he says.
“In New York, no one buys without engaging a buyer’s agent first.”
His comments follow WBP’s alliance with Queensland-based firm Herriots. 
He forecasts the industry to shrink to just a handful of firms driven by a desire from the major banks to partner with larger, national firms. 
“We are generally going to see more consolidation in the future. At the end of the day the Australian market will be controlled by four or five super groups. It’s no different to any other industry, be it accountancy, retail, banking etc,” he says. 
“The writing has been on the wall for small firms for some time.” 
WBP’s alliance with Herriots will allow it to extend its coverage into Queensland, with the firm already having a strong presence in Victoria, NSW, South Australia and WA. 
“Herriot’s has good regional coverage with 10 branches,” he says. 
The merger will consolidate WBP’s standing among the top five firms in Australia. 
Under the arrangement Herriots will adopt a new name and logo and is known as WBP Herriots QLD from December 1, 2011, with the alliance to provide residential, commercial and specialised property valuations for Australia’s leading mortgage lenders, businesses and thousands of private consumers.
Herriots Property Valuers specialises in both residential and commercial property valuations. 
The valuation industry enduring a tough year following moves by the major banks requiring firms to take on more risk in the event of a loan going bad, <a href="/news">driving up professional indemnity insurance premiums</a>. 
Pabst says this issue has been resolved with the banks looking to forge deeper relationships with the larger valuation firms.
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Valuers must diversify to survive: WBP

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Australian Industry Group chief executive Heather Ridout has been appointed to the board of the Reserve Bank of Australia, and Philip Lowe has been appointed the bank's deputy governor.
The new appointments were announced by Federal Treasurer Wayne Swan and will take effect from February 14, 2012.
Ridout will succeed Graham Kraehe and has been appointed for a five-year term.
Lowe’s seven-year appointment succeeds Ric Battellino, who will retire from the RBA after 39 years in February 2012.
“Mrs Ridout brings to the board both an extensive business background and a strong understanding of public policy. Her understanding of the manufacturing sector in particular will be valuable to the board at a time when different sectors of our patchwork economy face different pressures,” Swan says.
Aside from her role as chief executive of AIG, Ridout also serves on the boards of AustralianSuper Pty Ltd., Australian Super Trustee Board, and the Australian Research Alliance for Children and Youth.
Ridout was quick to acknowledge her appointment, saying it would be an “honour to be appointed to this most important position”.
“I have an abiding interest and commitment to strong and balanced economic policies and to have the opportunity to serve Australia in this role will be a great privilege,” she says.
Swan also praised Lowe and says he will suit his new role.
“Dr Lowe's promotion comes after a very distinguished career at the RBA beginning in 1980. He served as head of financial institutions and infrastructure division at the bank for international settlements between 2000 and 2002, where he published influential work on financial stability matters. Between 2004 and 2009, Dr Lowe oversaw the RBA's work on issues related to financial stability and payments system policy,” says Swan.
He has served as the economic assistant governor since April 2009 and has been the chief economic adviser to the governor and the Reserve Bank board.
 
 
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Heather Ridout joins RBA board

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Centro Retail Australia, the new entity to emerge from the amalgamation of assets and managed funds from the Centro Property Group, has gotten off to a solid start in its first day of trading on the ASX.
The share price closing at $1.74, valuing the company at $2.3 billion, and the share price opened at $1.70.
The new stock bearing the code ‘CRF’ hit a high of $1.825 in earlier trading, with 3.7 million shares changing hands during the course of the day.
It received the green light to commence trading following a four year battle to find a way out of financing problems dating back to the GFC after <a href="https://www.propertyobserver.com.au/industry-news/centro-restructure-gets-final-nod-of-approval/2011120252651" target="_blank">former auditor PricewaterhouseCoopers decided not to appeal a NSW Supreme Court decision </a>in favour of the restructuring plan.
This followed major shareholders and bond holders agreeing to the restructuring of the company and the formation of the new retail fund on November 22 guaranteeing them a pay out of around 5¢ per share.
As part of the restructure, the $2.7 billion owed to Centro’s senior lenders that was due to be paid by December 15 will be cancelled in exchange for substantially all of Centro’s Australian assets and interests being transferred to these lenders.
 
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Centro starts trading anew 

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The Charter Hall Office REIT remains in a trading halt ahead of announcement from a Macquarie Group-led consortium of a revised higher offer for the listed property trust.
Share trading in the REIT was suspended at $3.42 a share on Friday pending the release of an ASX announcement by the trust and will remain suspended until tomorrow morning or until the announcement about the offer is released to the market.
The Macquarie Group-led consortium, which includes the Government of Singapore Investment Corporation, Canada’s Public Sector Pension Investment Board and the trust’s head stock Charter Hall, offered $2.39 per share (equating to $1.74 billion) on August 29 for the $1.5 billion Australian portfolio. (It also offered $1.13 per share for the expected capital return from the sale of US assets.)
On October 5, the consortium raised its offer to $2.43 per share for the Australian portfolio with shareholders entitled to the proceeds from the US assets sale. The improved offer equated to a discount of 4.9% to the gross value of the assets held in the portfolio as of June 30, 2011.
The trust’s independent director committee advised shareholders that the current offer was not adequate and said it would provide the consortium with further due diligence material to assist it in improving its offer.
Earlier this year the REIT’s Charter Hall management team <a href="https://www.propertyobserver.com.au/news/proxy-votes-in-charter-hall-office-reit-battle-line-up-to-reject-takeover-proposal/2011072750930">escaped a bid by a consortium of US hedge funds</a>, which hold 20% of the trust, to replace it with a team from Moss Capital Funds Management.
The Charter Office Hall REIT owns and manages 19 properties in Australia with a combined value of $1.5 billion. Assets include 50% of the Citigroup Centre and No.1 Martin Place in the Sydney CBD and 100% ownership of the Argus Centre and 150 Lonsdale Street in Melbourne.
It is continuing to sell down its US portfolio with a further two offices in New Jersey and Atlanta being sold in recent months reducing its current holding to 12 properties.
 
 
 
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Charter Hall Office REIT trading halted as it awaits higher Macquarie offer

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Property investors and pundits may be forgiven for thinking new AFG data showing an increase in the number of new home loan inquiries is a good sign for the sector, but a new site designed to help home owners in financial trouble has put the brakes on any celebration.

The site, <a target="_blank" href="https://doingittough.info/">doingittough.info</a>, was developed and now operated by the Australian Bankers' Association, and allows home owners who are experiencing financial difficulty to contact their banks and figure out ways of obtaining some financial assistance.
But despite the connotations of releasing such a site in the current economic environment, ABA chief Steve Munchenberg says the site isn't a commentary on whether the European crisis could impact home lending, as some economist have predicted.
Instead, he says the website is a response to home owners who feel they don't have the ability to continue paying their mortgage when they actually have numerous options available.
"Back at the beginning of the year, with the floods, and then cyclone Yasi, we were able to go public then and highlight the fact that people could talk to their bank and get a quick release for a period of time to get them through some difficulties."
"We've seen other parts of the economy doing it a bit tough. And there is a reluctance on the part of some people to tell their bank they are going through hard times."
"I think people have given us a lot more credit for foresight than we should take."
The website itself offers tests for financial strength, along with information on what you can do when struggling through financial difficulty, and how you can apply for hardship provisions.
Munchenberg says the website isn't a commentary on arrears or defaults, which he points out is quite low. Instead, he says it's about dealing with people who don't feel they have any other option.
"When we have people in financial difficulty, they don't instinctively think to contact the bank. But the reality is the bank has a bunch of programs in place to help people in those situations."
"We would rather find out if you're under pressure early to make sure we can all work through that, rather than have people hide that fact and then get into a state where it's much harder to pay it all back."
However, despite the insistence that the site is not a warning, data shows Australians are spending more of their income on mortgage payments, even as prices have slowed. Real estate groups such as the Real Estate Institute of Australia believe this to be a serious problem.
<a href="/news">But new figures from AFG paint a different picture for the market</a>. The country's biggest mortgage broker recorded an 18.4% increase in mortgages processed in November, altogether worth $2.9 billion.
Investors took up 40% of mortgages, with the company saying it was most likely spurred on by the Cup Day interest rate cut.
The figure was the highest since March 2009, on a monthly basis. Fixed rate loans fell to just 17.2%, with stand variable loans taking a 63.1% share. The average size of all mortgages rose to $396,000 from $395,000.
But while the figures may suggest the market is on the verge of booming, auction clearance rates present another story. In both Sydney and Melbourne, sales have remained in line with results from the past three months.
In Melbourne, the Real Estate Institute of Victoria recorded a 55% rate, slightly up on last week but down from the 60% recorded this time last year. Chief executive Enzo Raimondo said for the fifth week in a row "there has been no substantive change in the level of demand".
It expects that trend to continue through the end of the year, even during next week when 900 auctions are expected.
Sydney recorded a 52% clearance rate, while Brisbane and Adelaide recorded rates of 20% and 36.8% respectively.
This article originally appeared on <a href="https://www.smartcompany.com.au/index.php" target="_blank">SmartCompany.</a>
 
 
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Mortgage enquiries on the rise, but banking lobby group launches mortgage stress website

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The housing industry is calling for a 50-point slash in interest rates, saying 25 points wouldn't do the job for the beleaguered sector.

Harley Dale, chief economist at the Housing Industry Association, says although most economist expect a 25 basis point cut, this wouldn't be enough to lift the sector out of the doldrums because the banks might not pass on the full cut.
"We think it would be appropriate to cut by 50 points partly because of the uncertainty and the jolt to confidence that comes from [the cut]," Dale says.
Dale's comments follow official figures showing building approvals fell by nearly 30% in the year to October.
The retail sector, meanwhile, says a rate cut would breathe some life into some weaker areas of the industry, most notably clothing, footwear and department stores, in the lead up to the key Christmas period, which accounts for 40% of annual trade.
"For some retailers it may stave off their financial issues going forward into the new year," Australian Retailers Association executive director Russell Zimmerman says.
The industry expects this year's Christmas sales to be 2.2% higher than last year.
A second monthly rate cut would lift this growth rate a little higher, he says.
"We might not be in the halcyon days of 5%, but we might see an increase of just a little bit more... around half a per cent or so."
The RBA is expected to announce a rate cut to 4.5% tomorrow, on the back of the European sovereign debt crisis, problems in the key sectors of the economy and lowered inflation figures.
But TD Securities head of Asia-Pacific Research Annette Beacher says the central bank should not respond too quickly to pressure for another rate cut.
"Instead, the RBA is in a strong position to voice an easing bias this week, but not deliver another 25 basis point cash rate cut until early 2012 to start the New Year with truly neutral monetary policy for whatever lies ahead," she says.
Beacher expects September quarter economic growth figures, to be released on Wednesday, to be strong.
"We expect another quarterly growth rate of at least 1%, driven by consumption and investment, for annual GDP growth of 2.5%," she said in a statement.
According to an AAP survey of 16 economists, the median market forecast for GDP stands at 1.0% for the September quarter, for an annual rate of 2.1%.
This article originally appeared on <a target="_blank" href="https://www.smartcompany.com.au/">SmartCompany</a>.
 
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