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.

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<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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Estate agents are rushing through listings aimed at first-time buyers in light of the September announcement that the NSW government will withdraw stamp duty concessions for first-time buyers who purchase established dwellings from January 1, 2012.
Seven out of the 12 properties on offer at last week’s specially conducted first-home buyer auction held by Ray White were sold under the hammer. First-home buyers dominated the night, and the rest of sales went to investors.
It was marketed as the Last Chance Auction.
Ray White agent Penny Timothy confirms the company is pushing people to sell before the deadline falls.
“Owners that were maybe considering selling in the next six months, we have encouraged them to do so,” she says.
“The rush to meet the deadline has bought people out.”
Under the First Home Plus Scheme, eligible first-home buyers in NSW currently receive stamp duty exemptions on all homes valued up to $500,000 and stamp duty concessions on all homes valued between $500,000 and $600,000.
On a home valued $500,000 this grant is worth $17,990.
<a target="_blank" href="https://www.propertyobserver.com.au/residential/nsw-first-home-buyers-have-a-month-left-to-secure-stamp-duty-concessions-on-established-homes/2011112952604">On January 1, 2012 this will altered so the subsidy is only offered to off-the-plan homes and empty lots in an attempt to encourage new building projects.</a>
The national first-home owner grant of $7,000 still applies.
EPS Property Search Director Patrick Bright says he has concerns that emotional first-home buyers will pay unsustainable prices for properties in a bid to save money on stamp duty costs.
“Unfortunately, when incentive schemes are in place many buyers see the money they are saving but forget to evaluate whether the current prices will be sustainable when the incentive comes to an end,” he says.
He advises investors to be very wary at this point as they will be competing with a rush of home-buyers.
“Home buyers will typically pay more than an investor, and new home buyers who have a deadline to beat could inadvertently pay a premium for existing properties in a bid to save money on stamp duty costs,” he says.
“Investors would be wise to tread cautiously in this climate to ensure they don’t get caught up in an emotional bidding war.”
Although the grant only applies to homes under $600,000, Bright says it will have a knock-on effect on more expensive properties.
”Those wishing to buy in the next price bracket from $600,000 up to $1 million may have to fork out a little more as the sellers of the sub-$600,000 properties upgrade their homes.”
Bright says he supported the decision by the O’Farrell government to tighten the stamp duty exemptions, as the savings were essentially passed on to vendors though increased sale prices.
The Last Chance Auction Results
9/24 Royston Street, Darlinghurst sold for $470,000 through Nick Harrington. It last sold in 2001 for $247,000.
701/40 Macleay Street, Potts Point sold for $553,000 through Penny Timothy.
1/8 Macleay Street, Potts Point sold for $461,000 through Penny Timothy.
12/5-7 Esplanade, Elizabeth Bay sold for $345,000 through Ian Campbell.
3/20-22 Springfield Avenue, Potts Point sold for $337,500 through Tracey Saye. It last sold in 2004 for $226,000.
14/322 Victoria Street, Darlinghurst sold for $250,000 through Laura Bitar.
107/88 Crown Street, Woolloomooloo passed in. Nick Harrington was seeking $635,000.
5/42 Bayswater Road, Potts Point passed in. Nick Harrington was seeking $320,000.
17/67-69 Macleay Street, Potts Point passed in. Tracey Saye was seeking $450,000. It last sold in 2004 for $315,000.
15/8 Macleay Street, Potts Point passed in. Tracey Saye was seeking $330,000.
77/71 Victoria Street, Potts Points was withdrawn. Nick Harrington was seeking $800,000. It last sold in 2006 for $530,000.
35/51 Roslyn Gardens, Elizabeth Bay sold before auction for $282,500 through Laura Bitar. It last sold 2001 for 176,000.
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Agents rushing NSW vendors hoping to get first-home buyers before the stamp duty concessions conclude

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?The tightening Sydney rental market has its epicentre in the inner-city suburbs of Leichhardt and Randwick as vacancies across the greater metropolitan region tightened from 1.4% to 1.3% over October, according to NSW Department of Housing analysed by PRDnationwide.





Leichhardt in Sydney’s inner west is experiencing the largest increase for a two-bedroom unit (20% year-on-year to September) and the second largest for a three-bedroom house (12%), while the Randwick municipality in Sydney’s east recorded the largest growth in median rent for a three-bedroom house, equating to 14.3% between September 2010 and 2011.

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 The median rent for a three-bedroom house in both Randwick and Leichhardt was $800 per week as at September 2011.</div>
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The average increase in median rent across all municipalities in greater metropolitan Sydney equated to 5.8% for a three-bedroom house, with a 6.4% increase in the rent for a two-bedroom unit – slower growth than the average of 8% per annum (three-bedroom house) and 8.3% (two-bedroom unit) recorded over the past five years.
The increase in rents in Randwick follows growth in demand for rental accommodation in the suburb, with the municipality now accounting for 4.2% of the total 531,838 rental bonds held in the greater metropolitan region.
The highest proportion of rental bonds is held in City of Sydney, accounting for 9.5% of total bonds.
Sydney and Randwick were also found to contain some of the highest concentration of rental properties of the total dwelling stock, corresponding to 63% in Sydney and 47% for Randwick.
The most expensive place to rent in the Sydney metropolitan area is in the Waverley Council, in the inner east, which includes the suburbs of Bondi and Bondi Beach, where the median rent for a three-bedroom house is of $980 per week.
The most expensive median rent for a unit was recorded in the City of Sydney, where a two-bedroom unit returned $600 per week in September 2011.
Around Sydney the council area of Botany Bay recorded strong increases in new rental bonds for the past three consecutive quarters, with a September growth representing an 18.4% increase on the same period in 2010.
<a target="_blank" href="/news">Nationally, houses are currently taking an average of 56 days to sell with units typically selling in 54 days</a>, according to RPData.
 
 
 
 
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Leichhardt and Randwick the epicentre of Sydney rental squeeze

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Meriton boss Harry Triguboff expects the Reserve Bank to cut interest rates at its meeting next week (December 6) and says reducing the lending rate is one of the best ways to encourage people back into the property market.
“If we want to see the economy improve, we must do more to help people invest in property. 
“Keeping interest rates low is a very good place to start,” he says. 
Triguboff also backed the property market over the share market, saying investing in the share market should be secondary to investing in the property market. 
“When the stock market crashes, you need something ‘concrete’ to fall back on,” he says. 
“To build a better economy, we need to build more housing. We need to make it easier for young people and investors to enter the property market and councils must make the approval process faster so we can build more, sooner. 
“Help people get started, help them invest, help them use their superannuation for property. Get them into bricks and mortar.” 
Triguboff made his comments on the need for an interest rate cut following the launch of his latest project, Oceanvale at Warriewood in Northern Sydney, where prices begin at $425,000 for a one-bedroom unit.
Speaking yesterday at the AICC 2011 Annual Property Lunch in Sydney, he warned of the growing impact of global factors, in particurlar China on Australia’s economy.
“If China does something different, it affects us, even if it has nothing to do with us. Before we had to think only of ourselves, now we have to think of the whole world,” he said.
He says there is a growing demand for one-bedroom apartments and Meriton will build more one-bedroom units as people are less willing to share.
Triguboff’s comments follow the release of the government’s mid-year budget review yesterday with plans to cut spending over the next four years and reduced growth forecasts with the Organisation for Economic Cooperation and Development downgrading Australia's economic growth for calendar 2011 from 2.9% to 1.8%.
<a href="https://www.propertyobserver.com.au/economy/europe-worries-and-budget-cuts-intensify-pressure-for-rba-to-cut-rates-in-december/2011112952594">AMP chief economist Shane Oliver</a> said yesterday that he expected the RBA to cut rates in December, arguing that waiting until February 7 meeting would be too high a risk due to “the increase threat from the Eurozone debt crisis, rising bank funding costs and increasing fiscal drag following federal government belt tightening”.
 
 
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Harry Triguboff says interest rates must fall next week

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As we look to what's ahead for 2012, Property Observer is republishing some of our most noteworthy stories of 2011.
{yoogallery src=[images/stories/november30makepeace]}
Cashed-up holidaymakers who were hoping to spend their summer break on Makepeace Island will have to make other plans – Sir Richard Branson’s $16,890-a-night Noosa getaway was fully booked over Christmas and New Year’s and is busy over the summer period.
Branson opened his private retreat to the luxury holiday market <a href="https://www.propertyobserver.com.au/https://www.propertyobserver.com.au/news/sir-richard-bransons-noosa-getaway-for-hire-%E2%80%93-for-%2417000-a-night/2011071150769" target="_blank">earlier this year</a>, and spokeswoman Kirsty Aitken says it has proved popular with well-heeled travellers.
“The interest we have had after just four months of opening has been overwhelming, and we are thrilled with the bookings we have received,” she says.
Aitken says many of the island’s visitors have been well-known names who choose to holiday there to escape the pressures of fame.
“Our clients often book the island because of its seclusion and to meet their desire in most cases not to have their celebrity known,” she says.
Branson, along with Virgin Blue executives Brett Godfrey and former colleague Rob Sherrard, bought the heart-shaped island for $2.86 million in 2007. It rents for between $7,900 per night for up to eight guests during the off season to $16,890 per night for up to 22 guests during busy periods.
There is a main house, three two-bedroom villas and a four-bedroom guest house. It has a boathouse, lagoon pool and a 15-person spa.
Guests travel to and from the island by riverboat, and it contains a host of facilities, such as an outdoor cinema and a full-sized tennis court, to keep them occupied.
When he announced that Makepeace island would be available to rent, Branson said: "When neither Brett nor myself are visiting Makepeace, we will make the island and its facilities available for others to enjoy the tranquillity of what is a very special place.”
One can assume the Virgin chairman will be spending more time on his island the next time he is in Australia.
 
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Sir Richard Branson's Noosa getaway, Makepeace Island, booked out for summer in the tropics

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It is just 31 days before the NSW government limits first-home buyer full stamp duty concessions to those buying newly constructed houses and units.

From January 1, 2012 first-home buyers will no longer have their stamp duty fully subsidised by the state government if they buy established homes.

First-home buyers who buy established houses or apartment next year will forego up to $17,990 in stamp duty exemption. 

Purchases must be exchanged before January 1, but can settle later next year.

The measure was unveiled by Treasurer Mike Baird in the Coalition’s first budget in office on September 6 this year.

"We recognise this is a difficult decision, but we believe it is necessary to make buying a new house relatively more attractive than buying an existing dwelling for first-home buyers," Baird advised.

“The government has therefore decided that from 1 January next year, while all eligible first-home buyers will continue to receive the $7,000 first-home owner’s grant, eligibility for additional stamp duty concessions will be limited to those purchasing newly constructed homes, including ‘off the plan’,” the Treasurer said. 

Baird predicted the first-home buyer housing market would spike up until January 1 as a result of the change and claimed that after January 1 more much-needed new homes would be built.

<a target="_blank" href="https://www.propertyobserver.com.au/auctions/agents-rushing-nsw-vendors-hoping-top-get-first-home-buyers-before-the-stamp-duty-concessions-conclude/2011112952609">Some estate agents have held first-home buyer auctions to engender a competitive element for their listings</a>, but there appears not to have been a herd of buyers paying silly prices. 
First-home benefits of up to $24,990 have been available, including the $7,000 first-home owner grant and a duty exemption of up to $17,990 under the First Home Plus Scheme.

The $7,000 first-home buyer grant will continue to be available to all eligible first-home buyers in 2012.
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NSW first-home buyers have a month left to secure stamp duty concessions on established homes

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The Future Fund chairman David Murray, who served as Commonwealth Bank of Australia chief executive for a decade until 2005, has warned that houses are overvalued and predicts that prices will at best stay flat for some time.

He believes house prices are higher than justified by income levels, but says this does not mean prices will collapse.

Instead, prices and incomes would come back into line over several years, he told the Australian Business Economists’ annual forecasting conference.

“The lending system for housing has resulted in a house price which is higher than it should be,” he said in answer to a question reported by the Australian Financial Review.

“I believe that will be worked through by stabilisation of house pricing and rising increases in incomes and hopefully that’s the outcome.”

Murray said in hindsight he saw that banks were funnelled into home lending by prudential standards that required them to hold much less capital in reserve against home loans than for other loans.

Banks were unlikely to face major losses on home loans based on historical experience but it was a concern that they needed to refinance the home loans on international markets, which were showing signs of stress, Murray added.
 
 
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Future Fund chairman David Murray says Australian housing overvalued

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In Queensland, the Gold Coast holiday rental market is picking up again after a tough year, says Clark Brackenridge, principal of Raine &amp; Horne Surfers Paradise.
“Our property markets are showing signs of turning the corner, and as it stands, our holiday bookings for the Christmas period are reasonably strong, and are certainly well up on this time last year.
“In addition, buyers are beginning to recognise that property prices on the Gold Coast represent good buying, with good yields available to investors,” says Brackenridge
Two-bedroom, two-bathroom apartments overlooking the beach can be purchased for $400,000, and rent for $250 a night as a holiday rental, or for between $500 and $550 a week to long-term tenants.
In Far North Queensland, Port Douglas is also maintaining a steady stream of holiday bookings, says David Cotton, Principal of Raine &amp; Horne Port Douglas / Mossman.
“To date, our holiday bookings have been on a par with 2010, if not higher, and we currently have between 60% and 70% occupancy for Christmas.”
Luxury homes on the hill overlooking Port Douglas can rent for between $5,000 and $7,000 a week, notes Cotton, but ultimately, the town runs the gamut of holiday accommodation, including backpacker lodging and beachside holiday units.
“For buyers interested in purchasing a slice of the Far North Queensland holiday lifestyle, quality holiday homes start from $1 million and provide returns of between 3% and 5%,” Cotton adds.
 
 
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Queensland investors finding strong demand from holidaymakers over summer

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There have been several short reports for public consumption of late discussing off-the-plan buying.  Most have been masquerading as buyer tips or advice, but they take a very pro-developer side of things.
Now, without wanting to peeve too many of our developer clients – we have helped, after all, over 550 new residential developments (nearly all of which involved pre-selling) come to fruition over the past 15 years – below are my thoughts as to what a buyer should be asking when considering buying a dwelling before it has started construction.
I haven’t bothered to comment on the obvious here – stamp duty concessions; building depreciation; potential for growth before settlement (don’t we all wish!); time to sell your house or other investments or even the need to match the dwelling type to demographic/economic demand – but have touched on some less covered ground.
There can be great benefits to buying off the plan, but inherent in such purchases is risk.
One of the biggest risks is that the project is cancelled – or that the completion date will be delayed for lengthy periods of time, during which you may be required to commence paying fees without the ability to live in or rent out the property.
Another risk is that the development will not be built to a high enough standard to reflect the price you paid.
A third risk – which applies to investors – is that your property won’t attract the actual rent and yield you were told it would.
It is important to do your own homework in order to limit your risks – ascertain information regarding the property you are interested in and comparable sales/rents in the area.   It is also important to seek legal advice regarding the terms of any contract.  OK, now that the basic caveats are out of the way, here we go.
Risk 1 – the building is late or doesn’t happen
Right off the bat, a buyer should question the number of sales being reported.  A fast sales rate, with only a few remaining for sale, is one of the oldest spruiks in the book – it’s project marketing 101.
It used to be that a new off-the-plan dwelling sale was only reported as “sold” when a contract went unconditional, the full deposit was paid and all the necessary documentation was signed by both parties.  Too often today a “sale” is reported based on a holding deposit only – sometimes as little as $1,000.
One service my business conducts is “mystery shopping”.  We send buyers to new projects to critique sales techniques and to ascertain the real sales status.  Often, and increasingly of late, our mystery shoppers have been able to purchase “sold” stock.  Sometimes up to a third of the sales claimed to be made had not really occurred at all.
In addition to challenging the number of reported sales, a buyer should also ask if the proposed project has all the necessary development and building approvals to go ahead.
Another good thing to query relates to multiple sales being made to the same buyer.  Also, ask if any sales have been made internally, i.e. to people directly associated with the development, and whether any of the reported sales actually reflect unsold stock taken off the market.
A buyer should also question the time period for the reported sales.  Often developers will “soft” launch their new project to interested buyer groups many months before going to the open market.  Many of the sales might have been made during this period, yet the sales spruiking is often based on the public launch date.  Don’t always believe the “50 sales made in the first two weeks” or similar headlines.  Fifty sales might have been made, but our experience is that they took many months, if not up to a year, to make.
Finally, in relation to this first risk, a buyer should ask about the financial conditions needed to be met before start of construction.  And although somewhat obvious, too few ask about the exact planned start and finishing dates.
Risk 2 – building standard
First and foremost, make sure you know the answers to these questions:  Who is the developer and/or builder?  What are their track records?  Have they developed/built buildings before, and do they have any history of being sued over defects?
Also important is to check that the three-Fs (fixtures, fittings and finishings) in the display and printed material are guaranteed.  Beware of glossy leaflets with annotations along the lines of “artist impression” and “subject to change or availability”.
Ask, too, whether the construction will merely meet Australian standards.  These standards are, in the main, inadequate for the realities of modern urban living; and in particular, for those residing in large apartment complexes.  You are better off paying for higher than the prescribed building standard.
Risk 3 – rent and return
Paramount questions when building an off-the-plan apartment or townhouse are: Who will manage the complex?  What is their track record?  And under what circumstances could these arrangements change?
Sometimes the management rights are sold early in the piece.  That is OK, as selling the rights to manage a complex forms an integral part of a developer’s income stream.  But you should be told who they are and make sure that you have full voting rights at the first AGM.
While many buyers ask how much the body corporate fees are, like they do with council rates, too few ask for a breakdown of the body corporate costs.  Nor do they ask about cost projections.
Also, make sure that your view – for which you will pay a premium – is unlikely to be blocked by any future development.  And also ask an independent agent for their opinion on the suggested rent.
In most cases, you will receive honest and satisfactory answers to these questions.  But in those rare examples that you don’t, our experience is that it might be best to move on.
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 title="Matusik's Missive" target="_blank" href="https://matusikmissive.wordpress.com/">Matusik's Missive</a>.
 
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Three risks buyers take when they buy off the plan – and how to avoid them

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2615
</td>
<td valign="bottom" nowrap width="247">
$385,000
</td>
</tr>
<tr>
<td valign="bottom" nowrap width="114">
NGUNNAWAL
</td>
<td valign="bottom" width="85">
2913
</td>
<td valign="bottom" nowrap width="247">
$425,000
</td>
</tr>
<tr>
<td valign="bottom" nowrap width="114">
HIGGINS
</td>
<td valign="bottom" width="85">
2615
</td>
<td valign="bottom" nowrap width="247">
$427,000
</td>
</tr>
<tr>
<td valign="bottom" nowrap width="114">
RICHARDSON
</td>
<td valign="bottom" width="85">
2905
</td>
<td valign="bottom" nowrap width="247">
$430,500
</td>
</tr>
<tr>
<td valign="bottom" nowrap width="114">
MACGREGOR
</td>
<td valign="bottom" width="85">
2615
</td>
<td valign="bottom" nowrap width="247">
$431,250
</td>
</tr>
<tr>
<td valign="bottom" nowrap width="114">
HOLT
</td>
<td valign="bottom" width="85">
2615
</td>
<td valign="bottom" nowrap width="247">
$439,990
</td>
</tr>
<tr>
<td valign="bottom" nowrap width="114">
LATHAM
</td>
<td valign="bottom" width="85">
2615
</td>
<td valign="bottom" nowrap width="247">
$442,500
</td>
</tr>
<tr>
<td valign="bottom" nowrap width="114">
SCULLIN
</td>
<td valign="bottom" width="85">
2614
</td>
<td valign="bottom" nowrap width="247">
$455,000
</td>
</tr>
<tr>
<td valign="bottom" nowrap width="114">
CALWELL
</td>
<td valign="bottom" width="85">
2905
</td>
<td valign="bottom" nowrap width="247">
$458,000
</td>
</tr>
<tr>
<td valign="bottom" nowrap width="114">
GILMORE
</td>
<td valign="bottom" width="85">
2905
</td>
<td valign="bottom" nowrap width="247">
$465,000
</td>
</tr>
</tbody></table>
 
Source: RP Data
 
 
 
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Top 10 cheapest suburbs in Canberra for houses: RP Data

<html><body>
What's the most important economic question in the world today?
 
While many of us are concerned about the collapse of the euro or whether the US will fall back into recession, closer to home a more important question could be: will the China property bubble burst?
Anyone watching China in the last few years must be wondering if it is another bubble in the making. We all know that Australia’s future prosperity is substantially reliant on the resources boom, and a large part of that will depend on China’s growth.
What has all this got to do with property?
Well, the health of our property markets is intimately intertwined with our general economic prosperity.
Of course it’s not just Australia that relies on China. China's growing strength is essential to recoveries both in the US and Europe, as the country contributed 19% of the world's economic growth in 2010, and that's expected to increase to 24% this year. 
The strains of the last three decades of growth are starting to show. 
There are now widespread reports of a property bubble in China, with stories of large cities full of new high-rise buildings that remain unoccupied. “Ghost cities” are signs of a property bubble in anyone’s language. 
And the Chinese factories that make things the world wants are having difficulty competing with other Asian countries that can now churn out goods more cheaply. 
In response the Chinese Communist Party has been attempting to put a damper on the debt-fueled real estate boom as part of a deliberate attempt to rejig the Chinese economy into one that relies more on a domestic service sector and less on manufacturing and exports.
What would a China slowdown mean to us?
It’s already started. China's economy grew 9.1% in the third quarter of the year, the slowest pace in two years.  
This has some analysts asking if the bubble will burst or if there will be a soft landing.
Economists disagree on the answer.
Only time will tell, but China's economy expanded 10.4% last year and growth is forecast to slow to 9.5% this year. 
But remember, this is six times the pace of the US and euro area, according to the International Monetary Fund. Expansion of 9% in 2012 will be eight times as fast as the group of 17 nations that share the European currency, it forecasts.
Let’s put it into perspective 
Here are some more numbers quoted earlier this year by as ANZ’s Paul Braddick as he explains what could happen in China between now and 2025
<ul>
<li>350 million more people will move to the cities – 103 million have moved to urban areas since 1990</li>
<li>221 Chinese cities will have 1 million-plus people living in them – the whole of Europe has 35 today</li>
<li>1 million kilometres of new road and 28,000 kilometres of metro rail will be laid</li>
<li>170 mass-transit systems will be built – twice the number that all of Europe has today</li>
<li>40 billion square metres of floor space will be built in 5 million buildings</li>
<li>50,000 skyscrapers (30 storeys or more) will be built – the equivalent of building two cities the size of Chicago every year</li>
<li>97 new airports will be built</li>
<li>One in seven planes assembled by Boeing and Airbus will be delivered to China</li>
<li>1,000 megawatts of coal-fired power capacity will be commissioned every week - equivalent to 4 million tonnes of new coal demand</li>
<li>One wind farm turbine will be built every hour and a half</li>
</ul>
Now if those numbers haven’t blown you away…
I found some of these numbers <a href="https://www.telegraph.co.uk/finance/china-business/8311283/Growing-out-of-control-China-by-numbers" target="_blank">in The Telegraph</a> interesting reading: 
<ul>
<li>1.3 billion – China’s population as at 2009</li>
<li>10.3% – China’s GDP growth in 2010</li>
<li>$US183.1 billion – China’s trade surplus in 2010, a decline of 6.4% compared with the previous year.</li>
<li>6.06% – China’s official one-year lending rate, up 25 basis points from 5.81%. China last raised interest rates on Christmas Day last year.</li>
<li>3% – China’s official deposit rate</li>
<li>4.6% – China’s rate of inflation in December 2010, down from a 28-month high of 5.1% the month before. Inflation for 2010 as a whole was 3.3%.</li>
<li>7.2% – Official food price inflation in 2010.</li>
<li>73 years – Life expectancy of someone born in China in 2008, up from 71.3 years in 2000 and 46.6 years in 1960.</li>
<li>4.1% – China's unemployment rate as at the end of December 2010.</li>
<li>42 million – The projected population of China's newly planned “mega-city”. If projections are correct, the city would be 26 times bigger than the greater London area and twice the size of the entire country of Wales.</li>
<li>94% – Literacy rate of people aged over 15 in China. This compares with 65.5% in 1982.</li>
<li>$36.4 billion – Amount of new loans the biggest state-controlled commercial lenders gave out in 2010, much of it for property development</li>
<li>70% – Increase in sales of land-use rights to developers in 2010</li>
<li>6.4% – Amount property prices rose in 2010</li>
<li>1 million – Number of people living in underground bunkers in Beijing</li>
<li>14.8% – Increase in retail sales in China during 2010</li>
<li>39 – Average age of Chinese millionaires, according to the Wall Street Journal
</li>
<li>8.4% – Average annual pay increase at multinational companies in China last year, according to a report by Hewitt Associates</li>
<li>1 million – Number of Chinese tourists who visited the US during 2010</li>
<li>500 billion yuan (£47.3 billion) – the amount of direct economic losses caused by extreme weather in China in 2010, according to the chief of the National Climate Centre</li>
</ul>
What’s ahead?
 The anticipation of a slowdown in the Chinese investment boom has fuelled a host of pessimistic projections about how China will crash and cripple the rest of the world.  
However Bill Mitchell, research professor in economics and director of the Centre of Full Employment and Equity (CofFEE) at the University of Newcastle, has a different view. 
He believes the Chinese government is totally on top of managing their economy, which sets it apart from the leaders in the advanced world. 
Mitchell says that China will not let a major economic crisis occur within their its borders, explaining that it has so much more scope to expand, although we will all rue the environment impacts of that expansion. 
Mitchell suggests their problems are going to political – taming an increasingly rowdy middle class. For the rest of us, China provides an economic example, according to Mitchell – when all other sources of expenditure fail, turn on public spending, do it quickly and don’t err on the conservative side.
We are in for some interesting economic times ahead. As always, savvy investors prepare for the worst and look forward to the best outcome.
Michael Yardney is the director of <a href="https://www.metropole.com.au/">Metropole Property Investment Strategists</a> , a best-selling author and one of Australia's leading experts in wealth creation through property. He also writes the <a href="https://www.propertyupdate.com.au/">Property Investment Update</a> blog.
 
 
 
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