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.

&nbsp;

&nbsp;

&nbsp;

&nbsp;

&nbsp;

[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

<html><body>
To stimulate the development of much-needed new housing, developers and state governments are offering prospective buyers a range of incentives such as grants, no-deposit home loans and free luxury extras.
For those buyers considering a house-and-land package, these are 10 dates to keep in mind:
November 30, 2011
The last date to take advantage of <a target="_blank" href="https://www.metricon.com.au/melbourne/buying-guide/designer-promotion/35th-birthday?gclid=CJeIsfjbyawCFURV4godb0rsqQ">Metricon’s 35th Birthday sale</a>. The sale includes free extras for its house-and-land packages in metro regions. Extras include luxury carpets, solar heating systems and remote-control garage doors.
December 11, 2011 Up until this date, <a target="_blank" href="https://www.clarendon.com.au/">home builder Clarendon Homes</a> is offering savings of up to $14,000 on a number of its Victorian home designs. It is also offering extras of up to $21,000 on NSW homes as part of its Lifestyle Plus Summer Sale with no set deadline.
December 24, 2011
Christmas Eve is the last day to take advantage of an <a target="_blank" href="https://www.summitnewhomes.com.au/pages/4022/introduction">upgrade offer from WA builder Summit Homes</a>. The builder is offering high ceilings, Essa Stone kitchen benchtops and ducted air-conditioning for an additional $750.
January 1, 2012
Urbanedge Homes is offering a 60 day/60 home “price breaking” special ending on New Year’s Day, in which it has <a target="_blank" href="https://www.urbanedgehomes.com.au/pdf/2011_60daysale.pdf">discounted the price on lots for sale at a number</a> of its Melbourne locations.
January 31, 2012
The last day to take advantage of the Queensland government’s <a target="_blank" href="https://boost.treasury.qld.gov.au/">$10,000 Building Boost Grant</a> applicable to all buyers (including investors) who enter into a contract to build a new house, townhouse or unit.
January 31, 2012
In southeast Queensland, developer Devine is offering <a target="_blank" href="https://www.propertyobserver.com.au/developments/developer-lures-new-home-buyers-with-no-deposit-loans/2011090951488">buyers no-deposit loans for their house-and-land deals up until this date</a>. The offer is aimed at buyers who are eligible for up to $17,000 in government grants including the $7,000 first-home owner grant and the short-term $10,000 building boost grant
May 31, 2012
The deadline for <a target="_blank" href="https://boost.treasury.qld.gov.au/buying-or-building/faqs.php">lodgement of all applications for the Queensland government’s Building Boost Grant</a> with the Queensland Office of State Revenue. However, if your transaction is not completed by that date, you must lodge a notice of intention to apply (preliminary notice) by this date to ensure your later application may be considered.
June 30, 2012
This is last date to take advantage of the Victorian government’s Regional Bonus, which offers $6,500 to first-home buyers who enters into a contract to purchase or build a new home in a regional municipality in Victoria. This is addition to the $13,000 First Home Bonus.  <a target="_blank" href="https://www.sro.vic.gov.au/sro/SROnav.nsf/LinkView/DBFEE9B4136A31E1CA2575CB00012C3265A02CC2EEDDD527CA2575A1004420E8">A list of eligible regional muncipilaties is provided here</a>.
July 1, 2012 
From this date the <a target="_blank" href="https://www.revenuesa.sa.gov.au/fhog/index">South Australian First Home Bonus Grant</a> of up to $8,000 will be halved as part of phasing out of the grant. The grant applies to first home buyers who enter into a contract to purchase or build a new home or commenced construction as owner builders.
July 1, 2013 
From this date the South Australian First Home Bonus Grant (FHBG) will end in its entirety.
</body></html>

lschlesinger-FZcF9M3vE6

Buying a house-and-land package: 10 key dates to keep in mind

<html><body>
A Sydney hotelier's licence has been listed for sale with 13 gaming machine entitlements.
The licence also includes a social impact assessment for 23 gaming machines, which Property Partnership Australia listing agent Craig Hibbard says is “extremely rare”.
He told The Shout newsletter the licence could be reactivated almost anywhere in the City of Sydney local government area without the scrutiny of having to do a new assessment as required under NSW gaming laws.
As well as appealing to existing hoteliers, Hibbard said the licence could provide value to a number of new developments in the city and fringe.
Hibbard pointed to the recent $1.3 million sale of the licence at Sydney's Trumps Tavern – which had entitlements for 15 machines – as a benchmark.
 
 
 
</body></html>

jchancellor-FAypfDUnLy

Transient Sydney hotelier licence with 13 pokie entitlements up for sale

<html><body>
As we look to what's ahead for 2012, Property Observer is republishing some of our most noteworthy stories of 2011.
 
A dual-occupancy development is a relatively low-risk way to dip your toe into property development.  The simplest dual-occupancy is building a duplex.  A duplex is two attached villas/units.  So this is almost like building one larger house.
Another type of dual occupancy is to build a second dwelling behind or next to an existing house.
But my preference is to build two freestanding dwellings.  At Property Bloom we look for nice corner blocks that will allow us to build two free-standing villas or houses.  By “nice” I mean a flat block.  Each dwelling will have its own street frontage and face a different direction. You can then simply subdivide so that each villa ends up on its own, albeit smaller lot. The dual occupancy will then appear to be two separate single dwellings.  While each will be on a smaller lot than perhaps the other homes in the street, they may be valued not too much less than the same size dwelling on a larger block.
The wonderful thing about a dual-occupancy development is that the build costs may not be that much more than building one larger house.  However, the land cost is halved for each dwelling. This is how the numbers stack up and we can create over a $100,000 in equity through building a dual occupancy in the large regional towns we choose to develop in.
Let me take you through the figures on a dual-occupancy development we currently have available. Last week, we were offered first option to secure the best lot in a new land release in an upmarket estate in the town of Muswellbrook.  We quickly secured an 892-square-metre lot that was virtually flat.  There will only be three dual-occupancy sites offered in this release, so that means that the majority of dwellings will be houses and probably built by owner-occupiers rather than investors in this particular estate. That’s a big tick for when we complete the villas and clients rent them, as there will be less rental property in this area competing.
The cost of the land is $160,000, pretty cheap for almost 900 square metres of corner block, eh?
Bonus: The lucky client may not need to pay any stamp duty under the <a href="https://www.osr.nsw.gov.au/lib/doc/factsheets/ofs_hbb1.pdf" target="_blank">NSW Builders Bonus scheme:</a> 
Set up costs include; solicitor fee, contour survey and soil test:  $3,000
Estimated cost to build two freestanding three-bedroom, two-bathroom villas with double lock-up garages: $450,000
The build cost above includes all costs associated with the development; council fees and charges, design costs, turnkey building costs and even subdivision. We request that our builder loads everything into the building contract so clients can maximise their construction finance.
Contingency and holding costs:  $15,000
Property Bloom strives to minimise holding costs (interest on the land) paid by negotiating a low deposit and an extended settlement period on the purchase of the land.  During the settlement period we work fast to design the project, prepare and lodge the development application with the council and generally we can obtain development application consent before our client settles on the land.  This means we can swing quickly into action to obtain the construction certificate and then start to build. The build phase is approximately six months for a dual occupancy.
Total estimated costs for dual-occupancy project:  $628,000
Estimated end value of each villa:  $370,000 each or $740,000 for both
To find out the equity created in this project we take the estimated end value of $740,000 (for two villas) away from the total costs of $628,000.  This leaves $112,000.  Not a bad result within a 12-month period.
The rental return expected on the two villas is $450 per week or $900, giving a gross yield of 7.5%.
Jo Chivers is director of <a title="Property Bloom" target="_blank" href="https://www.propertybloom.com.au/">Property Bloom</a>, which manages property development.
Photograph of Property Bloom duplex in Hunter region, NSW.
 
 
 
 
</body></html>

jochivers-wq5Bp59R5a

A dual-occupancy development is twice as nice

<html><body>
<table style="width: 465px;" border="1" cellspacing="0" cellpadding="0"><tbody>
<tr>
<td width="228" nowrap valign="bottom">
Suburb
</td>
<td width="119" valign="bottom">
Postcode
</td>
<td width="119" nowrap valign="bottom">
Rental median for houses
</td>
</tr>
<tr>
<td width="228" nowrap valign="bottom">
CLONTARF
</td>
<td width="119" valign="bottom">
2093
</td>
<td width="119" nowrap valign="bottom">
$1,395
</td>
</tr>
<tr>
<td width="228" nowrap valign="bottom">
BALGOWLAH HEIGHTS
</td>
<td width="119" valign="bottom">
2093
</td>
<td width="119" nowrap valign="bottom">
$1,350
</td>
</tr>
<tr>
<td width="228" nowrap valign="bottom">
BAYVIEW
</td>
<td width="119" valign="bottom">
2104
</td>
<td width="119" nowrap valign="bottom">
$1,100
</td>
</tr>
<tr>
<td width="228" nowrap valign="bottom">
MANLY
</td>
<td width="119" valign="bottom">
2095
</td>
<td width="119" nowrap valign="bottom">
$1,000
</td>
</tr>
<tr>
<td width="228" nowrap valign="bottom">
SEAFORTH
</td>
<td width="119" valign="bottom">
2092
</td>
<td width="119" nowrap valign="bottom">
$995
</td>
</tr>
<tr>
<td width="228" nowrap valign="bottom">
NORTH BALGOWLAH
</td>
<td width="119" valign="bottom">
2093
</td>
<td width="119" nowrap valign="bottom">
$950
</td>
</tr>
<tr>
<td width="228" nowrap valign="bottom">
CHURCH POINT
</td>
<td width="119" valign="bottom">
2105
</td>
<td width="119" nowrap valign="bottom">
$900
</td>
</tr>
<tr>
<td width="228" nowrap valign="bottom">
BALGOWLAH
</td>
<td width="119" valign="bottom">
2093
</td>
<td width="119" nowrap valign="bottom">
$895
</td>
</tr>
<tr>
<td width="228" nowrap valign="bottom">
FRESHWATER
</td>
<td width="119" valign="bottom">
2096
</td>
<td width="119" nowrap valign="bottom">
$895
</td>
</tr>
<tr>
<td width="228" nowrap valign="bottom">
PALM BEACH
</td>
<td width="119" valign="bottom">
2108
</td>
<td width="119" nowrap valign="bottom">
$890
</td>
</tr>
</tbody></table>
 
Source: RP Data
</body></html>

cknowlton-QnEa6ntUYP

Top 10 most expensive suburbs in Sydney's northern beaches for house rentals

<html><body>
The Master Builders Association has called for further rate cuts following the release of ABS figures showing total seasonally adjusted residential building work done fell by 1.1% to $11.4 billion in the September 2011 quarter.
The figure would have been worse were it not for the value of major renovations work done growing by 0.9% over the September quarter to be up by 6.3% on the same quarter one year earlier.
Excluding renovations, new residential building work done fell by 1.5% to be down by 5.2% on the September 2010 quarter.
The biggest drop in new residential building work done occurred in South Australia, where the value of work fell by 15.5%, followed by Tasmania (12.1%), ACT (8.6%) and WA (6.3%).
New residential work done rose by 5.5% in New South Wales, 3.3% in Victoria and just 0.2% in Queensland, despite the $10,000 on offer as part of the state government’s building boost program.
MBA chief economist Peter Jones says the figures “confirm evidence from Master Builders’ latest survey showing dramatic turnaround in builder sentiment as commercial and residential building-related stimulus spending programs come to an end”.
“They also confirm that MBA information that builders are suffering a downturn in sales and enquiries.”
“The tough business environment is not being helped by volatility in the world economy and investor caution,” he says.
“A negative growth trend is firmly established in both the residential and commercial or non-residential building sectors, with no indication that conditions will turn around without policy change.”
Outside of residential building, construction work done surged by 12.5% for the quarter, to be 18.1% up from a year ago (inflation-adjusted).  This was the strongest quarterly construction growth rate since the commencement of this series in 1986.
Jones attributed this surge in construction activity to mega-mining projects ramping up, particularly in Western Australia during the September quarter and in Queensland the previous quarter.
“A sectoral divide has opened up in the building and construction industry, with booming engineering construction fed by the mining boom contrasting with a weak building sector caught in the slow lane of a post GFC economy struggling to transition to a private sector led recovery.”
“The 1.5% decline in new residential work done reflects a 2.6% decline in detached housing which was partially offset by a 3.4% increase in ‘other dwellings’,” noted HIA acting chief economist Andrew Harvey. 
“Today’s result suggests that new dwelling investment will detract from GDP growth in the September quarter national accounts, due for release in two weeks’ time,” he says. 
Westpac notes the two-speed nature of the economy, with construction work in the third quarter well in excess of expectations, private residential building activity flat, and public building and public infrastructure work declining. 
“For the RBA, from a policy perspective, the patchy conditions in the broader economy would remain a concern,” the bank says.
 
</body></html>

Home building still in the doldrums, but renos picking up: ABS

<html><body>
House prices eased by 0.51% during October to a median of $432,000, taking the annual downturn to 3.43%, according to Residex.
Hobart, down 2.46%, and Sydney, down 1.65%, were the weakest October performers.
Over the year the weakest capital cities were Brisbane, down 5.51%, and Perth, down 4.93%
<table border="1" cellspacing="0" cellpadding="0"><tbody>
<tr>
<td rowspan="2">
Area 
</td>
<td rowspan="2">
Median Value 
</td>
<td colspan="2">
Growth 
</td>
</tr>
<tr>
<td>
Year Ending Oct 2011
</td>
<td>
Last Month
</td>
</tr>
<tr>
<td>
ACT 
</td>
<td>
$530,500
</td>
<td>
-0.68%
</td>
<td>
-1.15%
</td>
</tr>
<tr>
<td>
Adelaide 
</td>
<td>
$394,000
</td>
<td>
-3.61%
</td>
<td>
-0.83%
</td>
</tr>
<tr>
<td>
SA Country 
</td>
<td>
$252,500
</td>
<td>
-2.12%
</td>
<td>
-1.36%
</td>
</tr>
<tr>
<td>
Brisbane 
</td>
<td>
$432,000
</td>
<td>
-5.51%
</td>
<td>
-1.46%
</td>
</tr>
<tr>
<td>
QLD Country 
</td>
<td>
$366,500
</td>
<td>
-2.99%
</td>
<td>
-0.03%
</td>
</tr>
<tr>
<td>
Darwin 
</td>
<td>
$496,500
</td>
<td>
-4.03%
</td>
<td>
1.19%
</td>
</tr>
<tr>
<td>
Northern Territory 
</td>
<td>
$472,000
</td>
<td>
-2.89%
</td>
<td>
1.14%
</td>
</tr>
<tr>
<td>
Hobart 
</td>
<td>
$375,500
</td>
<td>
-2.53%
</td>
<td>
-2.30%
</td>
</tr>
<tr>
<td>
TAS Country 
</td>
<td>
$269,500
</td>
<td>
-2.64%
</td>
<td>
-0.18%
</td>
</tr>
<tr>
<td>
Melbourne 
</td>
<td>
$574,500
</td>
<td>
-4.36%
</td>
<td>
-0.93%
</td>
</tr>
<tr>
<td>
VIC Country 
</td>
<td>
$332,500
</td>
<td>
2.78%
</td>
<td>
1.81%
</td>
</tr>
<tr>
<td>
Perth 
</td>
<td>
$465,500
</td>
<td>
-4.93%
</td>
<td>
-0.36%
</td>
</tr>
<tr>
<td>
WA Country 
</td>
<td>
$350,500
</td>
<td>
0.44%
</td>
<td>
1.95%
</td>
</tr>
<tr>
<td>
Sydney 
</td>
<td>
$657,000
</td>
<td>
-1.63%
</td>
<td>
-1.65%
</td>
</tr>
<tr>
<td>
NSW Country 
</td>
<td>
$334,000
</td>
<td>
-3.11%
</td>
<td>
-1.19%
</td>
</tr>
<tr>
<td>
Australia 
</td>
<td>
$432,000
</td>
<td>
-3.43%
</td>
<td>
-0.51%
</td>
</tr>
</tbody></table>
 
“The Residex latest figures on housing data do not point to a ‘bounce’ in housing demand and activity leading into the well-publicised rate cute decision,” Residex CEO John Edwards notes.
“Furthermore, auction clearance rates for Sydney seem to indicate that, even following the rate cut, there was little to no impact, which is a little unusual.
“The interest rate adjustment potentially was not enough to restore confidence in the community.
“The RBA will need to adjust rates a little further to stabilise, and I expect another rate cut will come in the near term, which could potentially be in the order of 0.5%.
“The volatility in our stock markets is going to continue but our housing markets, because of our high level of ownership and funding structure, will not present the same level of risk as other asset sectors,” Edwards notes.
“The press that flows from the European crisis causes uncertainty in all areas of our economy, in particular our housing markets,” says Edwards, who is currently overseas.
“We, as Australians, are ‘worlds apart’ from the crisis here in Europe and if it was not for this situation, considering the improving position of the United States (albeit slow), we would be rejoicing at our new found growth that has been driven by the demand for resources.”
“Yes, Europe is going to cause global problems, but Australia is not dependant on Europe; our economy will be balanced against our growing export resource market driven by developing Asia.”
 
</body></html>

House prices continue to ease even after rate cut: Residex

<html><body>
It is fascinating sitting back and watching the tug-of-war over monetary policy between the RBA staff, financial markets, vested industry lobbies, politicians and the RBA's private-sector board. Every single one of these constituencies wants lower interest rates with the exception, perhaps, of the RBA staff.
The CEOs of the two biggest banks in the country, CBA and Westpac, have both come out after the RBA's November cut calling for another one. But of course they would; they know that another reduction in rates would be a huge fillip for the housing market, which is where they have 60% of their balance sheet invested.
The industry lobbies all want lower rates and a lower currency because they are profit maximisers and know that economic growth will be higher the lower the RBA cash rate goes.
Think about the counter-factual: when was the last time you heard an industry representative, or a bank CEO, call for higher interest rates?
You can put politicians in the same camp. Intimating to (as Gillard/Swan have done), or outright calling for (the line Robb/Hockey have taken), the need for an easing in RBA policy is a no-brainer as an electoral strategy. No politician in his or her right mind is ever going to really argue for higher rates, even though there are, numerically, more net savers than net borrowers.
Finally, we have the investment banks and financial markets. For the last two decades Australia's financial and superannuation systems have been built around the performance of the domestic share market. It is vital for the revenues generated by investment banks from their stockbroking, corporate finance, and equity capital market businesses. The decline in share prices, M+A activity, and IPOs since 2007 has been devastating for the finance industry and tangential sectors, such as financial news media, that service them. The same is true of the corporate, retail, government and industry super fund domain, which has yielded members dismal returns as a consequence of being massively, and irrationally, overweight equities.
So the drums are beating from all the major retail and investment banks for the Glenn Stevens' "put". They don't even attempt to hide this in their language. Economists and finance leaders are increasingly calling for "insurance" from the RBA against something going wrong (a "put option" is a form of insurance). We need another rate cut just in case things turn out worse than the RBA is expecting. It would be the RBA's "policy of least regret" to provide a cushion for the economy.
They can smell blood: they already forced the RBA's reluctant hand after just one quarter of low inflation data, which the RBA itself argued could prove, after future revisions, to be a "noisy" anomaly. The markets are currently pricing in a near-100% probability of another cut in December, and they know, correctly, that the RBA has an institutional aversion to setting policy in striking conflict to market expectations. In the RBA's own words, it likes to "smooth volatility", which is why you are seeing its media proxies, like Alan Mitchell in the AFR, try to convince us all that a December cut is unlikely.
The RBA demonstrated with its November decision that this weight of community opinion – the tidal wave of public pressure – has a real impact. As I have noted before, the RBA is genuinely concerned about its "political independence" and about not disenfranchising popular support for its typically unpopular price stability objective (if meeting that objective ever means higher interest rates).
In the AFR this week we had a highly regarded former deputy governor of the RBA, Stephen Grenville, argue that in crises central banks sometimes have to bail-out insolvent banks (a point I have raised repeatedly, and which the RBA's Guy Debelle will tip-toe around in a speech today), accepting, as I have maintained, that "in practice it's difficult to distinguish between illiquidity and insolvency in real time." You bet it is. Amazingly, some people criticised me when I first raised this argument (see <a href="https://www.businessspectator.com.au/bs.nsf/Article/Reserve-Bank-RBA-insolvent-illiquid-Dr-Guy-Debelle-pd20110628-J98NB?OpenDocument">here</a>).
But Grenville goes further. He asserts that the US Federal Reserve's funding of the US government's budget deficit – via the process of printing money to purchase US government bonds – is sound policy. He does not see this as compromising the Fed's political independence. He also finds no fault with similar initiatives by the Bank of England (noting, however, that politicians may end up crimping the UK central bank). And he implores the ECB to go to its own policy extremes to "save" the euro.
Grenville argues that central banks acting unilaterally (i.e., without a direct electoral mandate) in such a fashion can "compensate for the dithering of the democratic process". He believes that history seems to be judging these measures relatively well and concludes that "there will be time, after the crisis, to return to the narrow task of price stability".
I hold a less sanguine view. I don't think history has judged anything yet. And I don't think central banks have been really tested. That test will come, as Grenville concedes in another article, when sovereign states likely decide that the least costly way to staunch the socio-economic problems they face is through a sustained period of inflation (remember this is more or less the explicit goal of the Fed). It will be then that we learn whether central banks have the political fortitude to raise rates again to achieve their tough price stability objectives. I reckon there's a chance we discover that the public appetite for independent central banks has well and truly waned...
Christopher Joye is a leading financial economist and a director of Rismark International and Yellow Brick Road Funds Management. The above article is not investment advice.
</body></html>

chrisjoye-JYhJsTrNRC

Will the financial markets give the RBA a 'Stevens Put'?: Christopher Joye

<html><body>
The Block 2012 filming is well underway on Dorcas Street, South Melbourne, but its key point of difference has yet to get through Port Phillip Council.
<img src="/images/stories/blocksouthmelb.jpg">
The Channel 9 reality television shows – which will headline the 2012 programing launch by the network after its stellar 2011 season – features the formulaic four adjoining properties.
It is Victorian terraces this time – unlike the Richmond cottages last year.
But plans to demolish an adjoining cottage on Montague Street to make way for rear four-car garaging with loft rooms has yet to get through the council.
<img src="/images/stories/da.jpg">
There are three objections to the plans, which are being considered by council staff. It is usually council policy that matters with fewer than 15 complaints are dealt with by delegated authority by council officers and needn't go before a council meeting for final approval.
<img src="/images/stories/blocksouthmelb3.jpg">
Filming began late last month, with the show expected to air in February, with Scott Cam back as the affable host.
Nine has been keeping details of the fifth series a big secret, having not provided any information yet on the contestants.
<img src="/images/stories/blocksouthmelb2.jpg">
But some details of the series are expected to be unveiled at today’s programming and sales launch.
The series – which aired in an expanded format last year – rated more than 1 million viewers daily, with the series finale in August pulling in 3.2 million viewers nationally. 
The production company <a href="https://www.propertyobserver.com.au/news/the-block-sticks-with-made-in-melbourne-formula/2011071150759" target="_blank">spent some some $3.8 million on four unrenovated terraces in Dorcas Street</a>.
</body></html>

Sneak peek of The Block 2012 as small stumbling block delays South Melbourne reno

<html><body>
First-home buyers represent a key driver of the residential market, underpinning demand for entry-level dwellings, which in turn creates increased demand across the market. While first-home buyers have averaged only 16% of finance for residential property over the last 20 years, they have a disproportionate impact on turnover activity and consequently prices.
While the focus on the reasons for the decline in first-home buyer demand in the media has been on the impact of the rises in interest rates over 2009-10 on affordability, the majority of the decline has been due to the demand brought forward by the First Home Owner’s Grant Boost Scheme. Total loans to first-home buyers have averaged around 130,000 per annum over the last five years. However, loans to first-home buyers rose to 190,000 in calendar 2009 during the operation of the boost.
As the pool of potential first-home buyers is finite at around the 130,000 per annum level, it means that a future demand of around 60,000 first-home buyers had been brought forward to take advantage of the boost. With about 90,000 to 95,000 loans to first-home buyers expected over each of 2010 and 2011, this “pull forward” effect has now largely been exhausted, and demand from first home buyers should slowly return back to underlying average levels.
This is highlighted in Chart I, which shows a comparison of year-on-year growth in loans to first home buyers after the original First Home Owner’s Grant Scheme was increased from $7,000 to $14,000 in March 2001, compared with lending after the First Home Owner’s Grant Boost Scheme was introduced in October 2008. From a timing perspective the grants were in place for a similar period, being in place for around 16 and 15 months respectively.
Click to enlarge
<a title="Click to enlarge" rel="shadowbox" href="/images/stories/angie1.gif"><img src="/images/stories/angie1thumb.gif"></a>
Interestingly, the trend in first-home buyer activity has been almost identical when comparing the recent boost scheme with the initial first-home owner’s grant. Substantial first-home buyer activity was brought forward to take advantage of the grants while they were in place. This created a subsequent “hole” in first-home buyer demand over the following two year period.
As indicated by the red line reflecting the impact of the most recent boost, first-home buyer activity is now showing year-on-year growth – despite the weaker overall economic conditions in 2011 compared with 2010. In comparison, at a similar point in time after the original first-home owner’s grant (February 2004), there was a setback in first-home buyer demand. However, conditions were different. Where interest rates are now declining, the market in February 2004 had experienced a 25-basis-point rise in interest rates in each of November and December 2003. As a result, there was a pause in first-home buyer demand for about six months before growth in activity again resumed (the next rise in interest rates was to be in March 2005. Consequently, with a benign interest rate environment anticipated over 2012, we anticipate that first-home buyer demand will continue to recover, and by the end of 2012 monthly first-home buyer demand should be reflecting the underlying level of around 130,000 loans per annum.
Healthy first-home buyer demand is important from a turnover and price perspective. Without demand for entry level properties, the impetus for demand from changeover buyers (i.e. upgraders and downsizers) is reduced as they usually have the option of staying in their existing dwelling and sitting out of the market when demand is weak. Similarly, investors can also sit out of the market when conditions aren’t conducive.
Most first-home buyers, on the other hand, are not able to postpone a purchase indefinitely. They will ultimately reach a life stage where they move into the market as purchasers. Those who can’t purchase their desired dwelling at the time will make a trade off by purchasing a smaller dwelling in their desired location, or purchasing in a more affordable location.
Consequently, it is often the movement in first-home buyer demand that creates the flow-on effects in demand across the rest of the market. This is highlighted in chart II. The increase in first-home buyer demand created by the boost scheme resulted in a subsequent rise in changeover activity. Given the much larger number of changeover buyers in the market, the percentage increase in changeover activity was lower, although still substantial – as highlighted by a comparison with the growth in changeover buyers that occurred in 2007 before the beginning of the GFC. Conversely, the fall-off in first-home buyer demand after the boost scheme expired has also resulted in a fall-off in changeover activity that is now stabilising as first-home buyer demand improves.
 
Click to enlarge
<a title="Click to enlarge" rel="shadowbox" href="/images/stories/angie2.gif"><img src="/images/stories/angie2thumb.gif"></a>


<hr class="system-pagebreak">
Investor demand also coincided with the rise in first-home buyer demand over 2009. However, investor demand is not dependent on owner-occupier demand, with investors able to make purchases at their discretion. While investment fundamentals such as rental growth and yields will also influence investor demand, the prospect for capital growth is by far the key driver of investor demand. It was the rise in prices in 2009 and early 2010 that underpinned the rise in investor demand, and in an environment where prices have been declining over 2011, investor demand has been weakening.
As a result, the recovery in first home buyer demand will have a positive impact on price growth. As highlighted in chart III, there is a strong correlation between turnover activity (as indicated in the table by owner occupier lending for established dwellings) and median house price growth. Periods of rising turnover have corresponded with rising price growth, while weaker activity results in weaker price performance. In recent months, the tapering off in the decline in turnover activity has corresponded with a slowing in the rate of decline in median house prices.
Click to enlarge
<a title="Click to enlarge" rel="shadowbox" href="/images/stories/angie3.gif"><img src="/images/stories/angie3thumb.gif"></a>
Consequently, in contrast to current concerns about price falls continuing, BIS Shrapnel’s view is that the recovery in first home buyer demand will facilitate the recovery in the housing market. Prices have now either bottomed out or should bottom out in the next few months and – barring any major shock on the overseas front – we will see the rising volume of activity will translate to a return of price growth 2012. Turnover will return to growth through 2012 as the recovery in first-home buyer demand gains momentum (although it could take a little longer in New South Wales given its recent changes to first-home buyer stamp duty exemptions) and flows through to changeover demand and increased activity across the market. The turnaround in price expectations will also drive stronger investor demand through 2012, which in turn will facilitate greater turnover.
As first-home buyer demand returns to underlying levels by the end of the year, price growth will strengthen and pick up further in 2013, particularly with our expectation of an improved economic outlook. The increased activity for existing dwellings will also allow upgraders to trade up into new houses and drive a recovery in new house commencements. Nevertheless, despite the expectation of a recovery in the market, the prospects for substantial rises in prices will be constrained by current strained affordability. In those markets in oversupply or close to balance, it means that the current price declines will halt, with only minimal growth coming through, while in those markets where there is a rising deficiency, price growth is expected to be stronger, although still only moderate (mid-single-digit growth per annum).
Angie Zigomanis is senior manager of <a href="https://www.bis.com.au/" title="BIS Shrapnel" target="_blank">BIS Shrapnel.</a>
</body></html>

angiezigomanis-VT64gGbExQ

First-home buyers to drive 2012 housing price recovery: BIS Shrapnel's Angie Zigomanis

<html><body>
The Bedarra Island Resort in Far North Queensland has been sold to the Charlton Hotel Group through CBRE Hotels agents Wayne Bunz and Paul Nyholt.
The family-owned hotel group will undertake repairs and refurbish the resort, which has been closed since February’s Cyclone Yasi.
<img src="/images/stories/beddara.jpg">
Just three months after Bedarra was put on the market it was sold in November to the Queensland-based family company with links to former Australian Olympic gold medallist swimmer Andrew "Boy" Charlton. The price has not been disclosed. 
Bedarra Island Resort occupies 44.96 hectares of land on the island and prior to the cyclone the resort offered secluded accommodation for just 32 guests in 16 luxury villas, which enjoyed a strong trading history in recent years.
The resort, which was named as Australasia’s Leading Boutique Resort at the World Travel Awards in 2007, is accessible via Mission Beach or direct helicopter flight from Cairns.
Refurbishment works will commence early in the new year, with reservation enquiries being taken from late 2012.
And it’s likely to have fewer villas and a shortened opening season.
Charlton Hotel Group general manager Sam Charlton says a sustainability analysis of Bedarra Island Resort would be undertaken in conjunction with the repairs to assess the population density the island could support, particularly in relation to waste, water and energy requirements.
“We recognise that Bedarra is a unique resort in a unique location,” says Charlton, who is considering swapping the diesel generators for solar power.
“The surrounding reef and rainforest ecosystems are of the utmost importance and we want to ensure these attributes which make the island attractive to today's guests are maintained and enhanced for future generations to enjoy.”
Charlton’s hotels include the Metropolitan Motor Inn, Toowong Villas and Mt Ommaney Hotel Apartments and the Kingsford Smith Motel, all in Brisbane.
Sam Charlton is the grandson of Olympic swimming legend Andrew "Boy" Charlton.
Bedarra Island is renowned for its unspoilt rainforests and palm-fringe beaches. It is the second largest in the “Family Group of Islands” that form part of the Great Barrier Reef.
Acting under instructions from the Swiss-based Pamoja Capital group owners, negotiations are continuing on the sale of the remaining asset in the Hideaway Resorts portfolio, the Dunk Island Resort.
Prior to Cyclone Yasi Dunk was an established and profitable family friendly resort offering accommodation across 160 rooms.
The significant undamaged infrastructure at Dunk Island Resort includes a sealed airstrip that caters for flights from Cairns International Airport, staff quarters, a nine-hole golf course (which could be extended to 18 holes), mains power, a freshwater dam and a sewerage treatment plant.
Both islands attracted <a target="_blank" href="https://www.propertyobserver.com.au/leisure/fnq-islands-overcrowded-with-100-strong-buyer-interest/2011102652078">significant investor interest </a>when they were <a target="_blank" href="https://www.propertyobserver.com.au/retail/not-so-perfect-islands-for-sale-in-fnq/2011090751465">put on the market</a>.
</body></html>

Latest Expert Insights

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

Guides

Editor's Picks

Guides

Developments

New apartments

New townhouses

News

Latest Expert Insights

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

Guides

Editor's Picks

Receive the latest news stories to your inbox

Guides

Developments

New apartments

New townhouses

News