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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Ahead of the tomorrow’s RBA interest rate meeting, the major banks are playing down the likelihood of deep rate cuts in 2012 as occurred during the late stages of 2008 when rates fell by 300 basis points in the space of four months.
Westpac and ANZ expect the RBA will cut rates tomorrow from 4.5% to 4.25% with the weak housing sector identified by Westpac as requiring “urgent action”, while the Commonwealth Bank expects the central bank to hold off until February as European concerns ease following the latest budgetary moves in Italy.
NAB expects the RBA to keep the cash rate on hold at 4.5% with a 25-basis-point cut in February although it says the probability of a rate cut in December has heightened.
Less than 15% of economists surveyed by Bloomberg and the Commonwealth Bank expect the cash rate to drop below 4% by the end of 2012, with more than 55% expecting the cash rate to settle between 4.25% and 4.5%.
Consumers appear to be in agreement with economists, with demand for fixed-rate mortgage products – in some cases a whole percentage point lower than lenders’ variable rates – continuing to rise. 
According to November figures from Mortgage Choice demand for fixed-rate loans have reached their highest level since April 2008, accounting for 20% of all new loan approvals up on the six-month average of 16%, the 12-month average of 14% and this period last year, when only 11% of new loans were fixed-rate loans. 
The cycle of fixed-rate cuts has continued, with Heritage Bank today announcing it will cut the interest rate on its three-year fixed-rate products from 6.29% to 5.95% Tuesday, December 6. 
Once again the Reserve Bank will have to way up the global situation and in particurlar Europe against a moderate strengthening in the local economy.
<img src="/images/stories/expected.gif">
Westpac’s chief economist Bill Evans, the only major bank economist to tip a November cash rate cut as far back as August, still expects a further 75-basis-point rate reduction over the course of the current easing cycle, but says tomorrow’s decision is shaping up as a “tough one”.
“It will depend on the degree of urgency with which the RBA views global developments weighed against a policy stance already around neutral; the attraction of waiting to assess these developments; and evidence of an acceleration in mining investment but more weakness in the housing sector. 
“We see the balance of risks favouring another 25-basis-point rate cut,” he says. 
“Our assessment is that conditions have deteriorated significantly in Europe and Asia since the last board meeting on November. 
“Through November we have seen increasing acceptance by both private and public forecasters that Europe will be in recession in 2012. 
On the domestic front, Evans says the “two-speed” or “patchwork economy” is still very much in play, with the housing sector among the weak spots in the economy. 
“While most of the data still pre-dates the November rate cut, there have been no signs of stabilisation in house prices across most capital cities. Indeed, some corrections are now becoming quite advanced,” he says. 
“A particular standout was the very weak October dwelling approvals which contracted by 10.7% in the month including a 7.5% drop in private houses. These figures do point to a greater degree of urgency for RBA action. 
“Clearly there will be a significantly weaker profile in housing construction than we had thought; a 5% to 10% decline could take about 0.3 to 0.5 percentage points off GDP.” 
The release of third-quarter GDP figures a day after the December meeting will be closely watched by the RBA as a guide to future interest rate decisions. 
Westpac is forecasting GDP growth of 1.3% (up from its last forecast of 1.2%) equating to annual growth of 2.4% driven by a 36% spike in infrastructure work, but with housing construction expected to be flat compared with a range of 1% to 1.25% being forecast by the RBA and the Commonwealth Bank. ANZ is forecasting quarterly growth of just 0.7%. 
Commonwealth Bank chief economist Michael Blythe suspects the decision to cut rates in November is a close thing, indicating that “every [monetary policy] meeting is 'live' while the European situation plays out”.
Just four days ahead of the December 6 meeting, Blythe says the bank has pencilled in a February cut but said a December cut is still possible should markets turn sour.
Given the developments in Italy over the weekend with the Italian cabinet adopting $26 billion worth of tax hikes, budget cuts and pension reforms to avoid bankruptcy, from the Commonwealth Bank’s point of a view the chance of a rate cut has eased.
However, Blythe says economist and markets are in agreement that the next move is down, though “opinions differ on how far the easing may go".
“Global issues underpin the rate-cut case. Domestic issues suggest a need for caution,” he says.
Blythe points to RBA forecasts of underlying inflation picking up into the upper half of the 2% to 3% target range as well as national accounts should showing households “are a bit more focused on savings and paying off debt and a bit more cautious about spending”.
“Policymakers have spent a fair amount of time getting households to this point to make room for the mining boom to roll through. They are unlikely to want to jeopardise these changes by overstimulating the household sector. 
“A genuine European implosion would, of course, outweigh these domestic considerations in the policy debate,” he says. 
ANZ has brought forward its forecast of a 25 basis points cut in February 2012 to tomorrow’s meeting.
Ivan Colhoun, head of Australian economics and property research at ANZ, says “a lot still has to go wrong before market expectations for the cash rate to fall to 3% will be met”. 
“Global growth developments therefore support a further moderate easing in the Bank's policy stance, but to date still seem far from the dramatic and extremely negative developments experienced in the second half of 2008,” he says. 
NAB economist Alexandra Knight says the bank expects further easing in the underlying inflation rate in early 2012, but with inflationary pressure picking up over the second half of the year. 
“At this stage we're forecasting a 25bp rate cut to 4.25% in February 2012 to provide some near-term reprieve to interest-sensitive sectors, although this will be data dependant. 
“Given our expectation for higher underlying inflation in 2013, we expect the RBA to reverse any near-term rate cuts, taking the end point back to 4.75%.”
In a note released on October 26, the NAB economics team headed by chief economist Alan Oster said “market pricing, of around 100 points of cuts, is in our view too aggressive”. 
“While it is likely that the RBA will cut again in early 2012 (February), we would caution that that is not a done deal. 
“By then activity will be picking up and employment will be strengthening. Nonetheless, we have tentatively included a February cut in our forecasts very much driven by the near-term inflation outlook – we expect fourth quarter underlying inflation (due late January) to rise a modest 0.6% with the year ended rate unchanged at 2.5%.”
 
 
 
 
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lschlesinger-FZcF9M3vE6

Banks expect rate cut soon, but no 2008-style cutting spree

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<table width="351" cellpadding="0" cellspacing="0" border="1"><tbody>
<tr>
<td valign="bottom" nowrap width="67">
Postcode
</td>
<td valign="bottom" nowrap width="190">
Suburb
</td>
<td valign="bottom" nowrap width="93">
Media unit price
</td>
</tr>
<tr>
<td valign="bottom" nowrap width="67">
3825
</td>
<td valign="bottom" nowrap width="190">
<a target="_blank" href="/news">NEWBOROUGH</a>
</td>
<td valign="bottom" nowrap width="93">
$68,000
</td>
</tr>
<tr>
<td valign="bottom" nowrap width="67">
3825
</td>
<td valign="bottom" nowrap width="190">
<a target="_blank" href="/news">MOE</a>
</td>
<td valign="bottom" nowrap width="93">
$123,000
</td>
</tr>
<tr>
<td valign="bottom" nowrap width="67">
3377
</td>
<td valign="bottom" nowrap width="190">
<a target="_blank" href="/news">ARARAT</a>
</td>
<td valign="bottom" nowrap width="93">
$140,000
</td>
</tr>
<tr>
<td valign="bottom" nowrap width="67">
3840
</td>
<td valign="bottom" nowrap width="190">
<a target="_blank" href="/news">MORWELL</a>
</td>
<td valign="bottom" nowrap width="93">
$143,500
</td>
</tr>
<tr>
<td valign="bottom" nowrap width="67">
3636
</td>
<td valign="bottom" nowrap width="190">
<a target="_blank" href="/news">NUMURKAH</a>
</td>
<td valign="bottom" nowrap width="93">
$149,000
</td>
</tr>
<tr>
<td valign="bottom" nowrap width="67">
3629
</td>
<td valign="bottom" nowrap width="190">
<a target="_blank" href="/news">MOOROOPNA</a>
</td>
<td valign="bottom" nowrap width="93">
$150,000
</td>
</tr>
<tr>
<td valign="bottom" nowrap width="67">
3644
</td>
<td valign="bottom" nowrap width="190">
<a target="_blank" href="/news">COBRAM</a>
</td>
<td valign="bottom" nowrap width="93">
$156,000
</td>
</tr>
<tr>
<td valign="bottom" nowrap width="67">
3465
</td>
<td valign="bottom" nowrap width="190">
<a target="_blank" href="/news">MARYBOROUGH</a>
</td>
<td valign="bottom" nowrap width="93">
$164,000
</td>
</tr>
<tr>
<td valign="bottom" nowrap width="67">
3500
</td>
<td valign="bottom" nowrap width="190">
<a target="_blank" href="/news">MILDURA</a>
</td>
<td valign="bottom" nowrap width="93">
$167,000
</td>
</tr>
<tr>
<td valign="bottom" nowrap width="67">
3556
</td>
<td valign="bottom" nowrap width="190">
<a target="_blank" href="/news">CALIFORNIA GULLY</a>
</td>
<td valign="bottom" nowrap width="93">
$170,000
</td>
</tr>
</tbody></table>
Source: RP Data
 
 
 
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awalsh-7Ub9EypybQ

Top 10 cheapest Victorian suburbs for units: RP Data

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In light of the savage downgrading by ratings agency Standard &amp; Poor's, are Australian banks really safe for depositors? While my answer to that question is an absolutely unqualified "yes", I raise the question because just before the downgrading, I had a deep conversation with a top Australian banker about just how his bank would handle a global banking crisis.

The combination of that conversation and the Standard &amp; Poor's ratings downgrade made me realise that S&amp;P is delivering to Australian banks a much needed wake-up call that bank CEOs ignore at their peril and to the peril of Australia.
And just to underline that this is a serious matter, the German-based global giant Siemens is establishing its own bank because it does not trust the solvency of the major European banks. The major Australian banks now have the same rating as some suspect European banks. While that says more about the fear inside the US-based ratings agency about the impact of bank downgrades, it again underlines our longer-term vulnerability.
Another long-term warning comes from the sharemarket, where the high yields on Australian bank shares show that international investors are worried about our banks' ability to maintain profits in the new world of global banking.
Australian banks have been money-making machines because they have paid low rates to bank depositors and supplemented their consequent low Australian deposit base by borrowing between 40 and 50% of their funding requirements from the global wholesale market. (It's currently around 40%. The banks have then used their fund avalanche not so much to support businesses, but to fund houses. Australian dwellings have become among the most expensive in the world because of the widespread availability of bank credit.
What Standard &amp; Poor's is telling the bank CEOs, Treasurer Wayne Swan and the Australian public is that it is highly likely that longer-term this game can't continue. Because of the deep problems in the European and US banking communities, plus the demand for funds in Asia, massive wholesale bank borrowing to fund housing markets will not be available unless you are prepared to pay much higher rates of interest.
Right now, the wholesale banking market is shut down so we can't fund our banks, but we clearly expect it to open again. I asked my top banker what happens if it stays shut for an extended period – say a year or two. He points out that most of the large Australian banks have borrowed over three years so they will be impacted gradually. When wholesale funds become due for rollover next year, the impact will be minimised because demand for funding from businesses is low and housing is not buoyant.
Moreover, the strong rise in local deposits has kept the banks very liquid. And the banks know that in the superannuation movement there are substantial funds which could be tapped with higher rates if necessary. And if all that proves to be insufficient, there is the Reserve Bank as a back-up.
While that is a good plan for the short term, it is not a good plan for longer-term funding. First of all, scrambling for superannuation funds in a crisis would be very expensive. Most of the big public superannuation funds do not have a "bank deposits" classification because the funds can't get commission on them. As interest rates fall we are beginning to see the self-managed funds – which control 30 per cent of the superannuation market – switch to equity-style securities that offer higher yields. A few more deposit rate reductions will accelerate that trend and that money will not be easy to get back.
The wake-up call to Australian banks requires them to become less dependent on wholesale bank deposits and begin to fund much more of their loan book at home. Secondly, banks will need to be much more active in funding businesses that create jobs to generate the capital city employment needed to enable homeowners to service their loans.
And finally, the banks better hope that the mainland Chinese cutback in apartment buying is not a signal for a wholesale mainland Chinese withdrawal from our apartment markets in Sydney and Melbourne. Then we really would have trouble.
This article first appeared on <a href="https://www.businessspectator.com.au/">Business Spectator</a>.
 
 
 
 
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Our banks just got a wake-up call on housing: Robert Gottliebsen

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Property investment scion Jo Perrott is set to launch a second $30 million unit trust that will focus on buying prestige residential properties in Australia.
The move comes just two months after Perrott announced the creation of the Allure Properties Diamond Fund, which aims to buy at least six luxury properties in London, the south of France, Colorado, Queenstown and Phuket while the dollar is high and real estate prices are low. The fund spreads its risk across different currencies and economic zones.
“We are responding to the market demands and the decision to launch a domestic fund has been client-led. It will join our international fund,” says Perrott.
Like the international fund, the domestic fund will total $30 million and be a closed fund that is operational for five or six years. Properties will be in Sydney, Melbourne, Perth, Adelaide and Brisbane – possibly Noosa and the Barossa – and worth between $3 million and $6 million each.
The new fund will be launched early next year.
“We have had so much interest, particularly from Melbourne, WA and Sydney as well as from management companies, in this approach to shared investment in luxury real estate. Many clients talked about wanting domestic property with a shorter time span. We expect that by March next year we could be ready to close the international fund,” says Perrot.
While no cash has yet changed hands, Perrott believes there is already enough interest to sell each of the $250,000-a-pop units in the fund and the domestic fund will be similarly priced.
“This is new to Australians, and people need to do their research before committing $250,000. We spend a lot of time with interested parties and our Information Memorandum is a very lengthy document. Already we have about 20 potential buyers in the mix at the moment,” she says.
The Allure Properties Diamond Fund will be a closed fund operating for eight years. During this time each unit holder will be allocated two weeks of vacation time in any of the holdings, which are expected to rent out for up to $20,000 a week. This time allotment can be rolled over into subsequent years, sold or given away. After eight years the fund will be wound up and the proceeds returned to investors.
Perrot hopes to create a new prestige property fund every 18 months.
In the UK this type of unit trust has been a popular alternative to standard residential investment for high-net-worth individuals. One company, Rocksure, has created six funds since 2006 and successfully weathered the GFC and the troubled UK economy.
“The dollar is high and property prices are low. The residences that we have targeted are about 50% discounted on their prices several years ago. We have all the right indicators in place for this to work well,” Perrott says.
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andreadixon-oif3j7eKne

Jo Perrott's Allure contemplates domestic prestige vacation property fund

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Apparently – well according to Luke or Matthew (I get so confused as to who said what in the Bible these days) – Jesus said to Satan, “Man does not live by bread alone, but by every word that proceeds out of the mouth of God!”  Well, I don’t really know about the words from God either, but living on nothing much rings true.
So in the spirit of the season, I bring you Missive Monday.  From now on and on a semi-regular basis – and yes, on Mondays – we will feature a property-related product or service that we think offers real value for money.  Of course, we have done a bit of a deal, so we get some coin – note coin and not dollars – for helping out with promotion.
We have resisted placing advertising on the Matusik Missive site but instead – and let’s face it, we all need to earn a crust – Missive Mondays will bring you legitimate offers than we think provide real value for money.
This Monday will bring you <a href="https://www.3rdhome.com/">3rd Home</a>.
3rd Home is easy to join, is affordable, is a quality product and offer, and is extremely timely given the current and emerging market conditions.
Australia is facing a demographic tsunami.  It is named “baby boomers approaching retirement”.  There are 5.3 million baby boomers (born between 1945 and 1964), and the oldest are now starting to retire.  This dominant market segment makes up 25% of the Australian population; represents 38% of the country’s households; comprises 43% of the paid workforce and holds 49% of our housing assets (in dollar value), split 46% for owner-occupation and 57% for investment housing.
Two-thirds of 800,000 unoccupied second homes (yes, there are that many) dotted around the country are also held by baby boomers.
So what will the boomers do with their residential assets when they start to retire or retread?  Now while they, on average, have great equity in their properties – 93% for owner-resident stock and 86% for their investments and secondary homes, they might want to sell some or all of these assets.
But if the market for such assets remains soft, what can boomers do instead of selling off quality assets in a buyer’s market?
One answer is to check out 3RD Home.
What is 3rdHome?
3rd Home is a “members only” luxury second home global property exchange program. Membership allows second-home owners to exchange weeks in their second homes for vacations at hundreds of international destinations.  At last look today, there are over 800 properties in the program and over 1,000 weeks currently available! By depositing unused weeks in your property into the club system, you earn “keys” that can be immediately used to stay at a whole host of other fabulous places.
<img src="/images/stories/matusik2.jpg">
Pictured above and below are actual 3rd Home members’ properties in Greece and in Noosa.  Both are valued at five “keys” in the 3rd Home system, and members can stay in either property (I for one would pick Greece) for just $495 per week.  Amazing, hey!
<img src="/images/stories/matusik3.jpg">
3rd Home was created to fill a need expressed by second-home owners who wanted to hold their assets but also experience a different getaway experience.  In short, the benefits of owning a second home can be magnified by sharing your vacation home with other 3rd Home members around the world.
As a 3rd Home member you stay in a home that meets your standards.  All 3rd Home properties are part of a private club that comprises affluent travel-minded members who own a second home.  All 3rd Home members have their own properties in the program.
Regardless of whether you rent your second home out or just keep it for family and friends, there is a certain amount of value that can be unlocked with 3rd Home membership.
As a program based on reciprocal benefits, 3rd Home members get out what they put in.
<ul>
<li>Just deposit the number of weeks that you are willing to let others use your property.</li>
<li>Instantly receive “keys” for your deposited weeks.</li>
<li>Find the property you want at the time you want it and use your “keys” to secure it.</li>
</ul>
The 3rd Home platform allows members to make their plans in real time.  No waiting for any replies, if the property you want is available and providing you have enough “keys” in your account, you simply pay a $495 booking fee and it is yours. Once a booking has been made, the 3rd Home system allows both members to converse on the arrangements and details.
3rd Home ensures that each property meets the highest levels of quality, and the site provides detailed information about each member’s property, so everyone can make informed decisions before they book another second home for themselves.
3rd Home has also introduced a feedback system, which provides added peace of mind and allows guest and host members to comment on each exchange experience.
The 3rd Home reciprocal benefits system is built on platform that uses a simple “credit” and “debit” arrangement based on the use of “keys”.  “Keys” have a 15-month life span, providing members with plenty of time to take a dream vacation or two.
Do you want to find out more?  Remember this isn’t time share!  I have arranged for Matusik Missive subscribers to receive a two-year free 3rd Home membership, valued at $495. Click <a href="https://www.3rdhome.com.au/matusik/" target="_blank">here</a> to find out more.
Michael Matusik is the director of independent property advisory Matusik Property Insights. Matusik has helped over 500 new residential developments come to fruition and writes the weekly  <a href="https://matusikmissive.wordpress.com/" target="_blank" title="Matusik's Missive">Matusik's Missive</a>. 
 
 
 
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michaelmatusik-49YzLvdmNv

How to use your second home to secure a dream vacation: Michael Matusik

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{yoogallery src=[images/stories/december1holmesacourt]}
The NSW holiday home of Peter and Divonne Holmes à Court passed in at its weekend auction.

Set about one hour south of Sydney, the four-bedroom oceanfront home at <a target="_blank" href="/news">Stanwell Park</a> attracted no bids.

It comes with Luigi Roselli-designed and council-approved plans for extensive additions.

Due to spending more time in Europe, the <a href="https://www.propertyobserver.com.au/new-south-wales/peter-holmes-a-courts-nsw-coastal-retreat-listed-for-sale/2011113052622" target="_blank">Holmes à Court family have decided they won't build their dream beach house extension</a> on the 1,568-square-metre Kallaroo Avenue site.

Its McGrath Thirroul listing agent Amanda Moore had expected $2.1 million plus bidding when it was auctioned in conjunction with LJ Hooker Helensburgh.

It last traded at $2.1 million in 2008.

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jchancellor-FAypfDUnLy

Peter Holmes a Court’s NSW coastal getaway passed in

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The vendors of 78 Beaconsfield Parade, Albert Park, learned the hard way on the weekend what a difference an underbidder can make in an auction, says Mark Armstrong of Property Tycoon.
"Although the last comparable sale on Beaconsfield Parade was only two months ago and sold for $2.66 million, this property failed to reach similar heights," Armstrong points out.
"The main reason is because, unlike the previous sale, there was no under-bidder there to compete, so the successful purchaser felt no need to bid."
The property was passed in on a vendor bid of $2.3 million and sold in post-auction negotiations for $2.4 million.
By way of contrast, Armstrong points to the weekend auction of 17 Yarraford Street, Alphington.
"With an agent quote of $1.6 million plus, the first bid was $1.71 million," Armstrong notes. "Two bidders then competed aggressively before the property was sold for $2,115,250."
<img src="/images/stories/beaconsfield.jpg">
Sale price: $2.4 million
Agent quote: $2.4 million to $2.5 million
% above agent quote: 0%
Bidders: 0
Last sold: No sale on record
Average tip: $2,628,478
% Correct tips: 1.72%
<a target="_blank" href="https://www.propertytycoon.com.au/">Property Tycoon</a> allows punters to guess auction results with no outlay.
 
  
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cknowlton-QnEa6ntUYP

Albert Park $2.4 million weekend auction tipping result

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Today I am thrilled to be able to share with you a truly unique insight into the RBA board’s internal machinations. A secretly taped video of a discussion between RBA assistant governor Philip Lowe, who runs the so-called “economic group” and is an influential player at the board level, and one of the RBA’s private sector directors, has surreptitiously come into our possession. We have agreed not to reveal the identity of the individual who sourced this material. Given its sensitivity, please do not share it with anyone! Enjoy.
<div style="text-align: center;">
<iframe border="0" frameborder="0" id="xtranormal_Leaked: secret video of two major bank CEOs chat" marginheight="0" marginwidth="0" name="xtranormal_Leaked: secret video of two major bank CEOs chat" src="https://www.xtranormal.com/xtraplayr/12784379/leaked-secret-video-of-two-major-bank-ceos-chat" style="height: 291px; width: 470px;"></iframe>
</div>
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chrisjoye-JYhJsTrNRC

Interest rate policy: Up to some digital mischief, Christopher  Joye imagines pre-RBA decision day internal machinations

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Hotels have delivered the greatest total return (rental income and capital growth) of all commercial assets, according to third-quarter Commercial Property Index results released by the Property Council of Australia and real estate information group IPD.
Over the last 12 months the hotel sector has delivered total returns of 17%, significantly higher than those generated for office, retail and industrial assets, which all returned about 10%.
Hotels delivered both the best income growth at 8.9% and top capital growth at 7.5%.
The next best income generating assets were industrial assets (8.6%), while the next best capital growth assets retail assets (3.1%).
The retail property sector was the only commercial asset class where total returns declined over the quarter, falling from 10.7% to 10.4%.
Industrial assets returns increased from 9.4% to 10% while office asset returns were unchanged at 10.2%
<img src="/images/stories/ipdnov30.gif">
Overall, the commercial property index showed a total return of 10.5% for the year ending September 2011 made up of a positive 7.5% income return and positive 2.9% capital growth.
This result represents a slightly lower total return in comparison to the previous quarter of 10.6%. The result is still slightly above the long-run average return of 10.1%.
Anthony De Francesco, managing director of IPD in Australia and New Zealand, says the third-quarter results suggest that the commercial property investment cycle has stabilised. 
“The moderation in returns is underpinned by a softening economy and unfavourable capital market conditions. We expect the property market to continue to soften over the next few quarters below the long-run average return,” he says. 
“IPD expects cap rates to remain relatively steady over the short-term given the softness of space markets and increased uncertainty in global capital markets. The persistence of the Euro crisis is likely to keep capital markets on edge and cause ongoing volatility. This will adversely impact investment performance for commercial property and competing asset classes.”
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Hotels outperform all other commercial sectors: IPD

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Attempts by the Queensland government to stimulate the building of new housing with its $10,000 building bonus have failed dismally, with the state leading a nationwide fall in building approvals in October, according to ABS statistics.
The sunshine state recorded a 19.5% drop in building approvals for the month, leading a 10.7% nationwide slump.
The figures are revealing since potential new home buyers had a full two months to digest the $10,000 incentive. The scheme was introduced on August 1 and will run until January 31, 2012. The boost is available to all class of buyers  (including investors) buying or building a new house, townhouse or unit under $600,000,
At an investor conference last week, Stockland CEO Matthew Quinn highlighted the poor take up of the grant with just 1,200 applications lodged to date equating to $12 million – the Queensland government has set aside $140 million for the scheme.
There were also big falls in approvals in Victoria (18%), Tasmania (12.9%) a modest decline in South Australia (3.3%) and flat growth NSW (0.4%) and the ACT (0%).
The only state to register an increase was Western Australia, where approvals were up 2.1%.
For the last 12 months building approvals – a leading indicator of future residential construction activity – are down 29.8% for the year
The outlook for units is particurlarly bleak, with approvals declining 16.8% in October following a fall of 31.6% in September to be down a massive 44.6% for the year.
Private house approvals declined 7.5% in October following a modest rise of 0.7% in September to be down 15.4% for the year.
Westpac senior economist Matthew Hassan warned of a “hard landing” for new construction and described the October data as “disconcertingly weak” particurlarly given consensus expectations of a rise of 3.3%.
“It suggests private sector houses are taking a sharp leg lower despite recent firming in finance figures and that the residual weakness in apartments apparent once a couple of large projects are removed from the August numbers is indeed pointing to an accelerated weakening,” Hassan says.
“The RBA's decision to cut rates in November may stem the flow but dwelling construction, which makes up 5.7% of GDP, now looks likely to be a considerably larger drag on growth in 2012,” he says.
Industry body the Master Builders Australia says the October figures indicate that the negative trend that developed one year ago is worsening.
“Confidence in the residential sector has plummeted, and although this figure predates the November rate cut, the Reserve Bank will need to do more to turn the situation around,” says MBA chief economist Peter Jones.
“Activity in both private sector houses and other dwellings (units and apartments) is sliding alarmingly after a bleak run of results through the course of 2011,” he says.
“The latest building approval figures are in line with the findings of recent Master Builders’ national surveys that reveal the extent of the deterioration in residential building conditions.”
“Sales and forward orders have fallen away dramatically in the past year as cautious clients, overseas events and difficulties accessing finance work against the industry,” Jones says.
“The immediate challenge is to restore confidence and drive a private sector recovery in the building sector.”
Jones says the residential building industry is banking on further rate cuts to “help boost confidence and stabilise an uncertain market”.
HIA chief economist Harley Dale says the October figures highlight the urgency of acting in late 2011 on both the monetary and fiscal policy front. 
“Such action would both shore up confidence and reduce the risk of housing activity plumbing the depths last seen during the GFC,” he says.
 
 
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