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

Joel Robinson

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

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

DVB Projects to launch second Broadbeach apartment tower as demolition commences

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

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

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

Boutique Gordon townhomes now come with a BMW iX3 50

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

Vitale breaks Byron Bay records with EADE sales flurry 

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

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

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

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

Every First Home Owner Grant for new property by state

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

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

Staff Writer

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

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

alisonwarters@gmail.com

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

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

Ellen Walker

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

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

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

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Investment bank JP Morgan has joined UBS and Goldman Sachs by forecasting the Reserve Bank to cut interest rates to 4.25% when it next meets on December 6.
The bank has changed its mind due to the continuing turmoil in Europe, the Australian government’s tight fiscal policy and the strong Australian dollar.
JP Morgan economist Stephen Walters says “escalating global concerns” are the key reason the central bank will continue with its easing policy.
The bank expects a further 25-basis-point cut in the first quarter of 2012, which would take the cash rate to 3.75% for the first time since February 2010.
According to Walters, the forecast cut will be to “mitigate the harm Europe is doing to the economy”.
Both Westpac and ANZ are forecasting interest rates will remain unchanged in December, with the next rate cut tipped for February, but both have said global factors may force the RBA’s hand.
“Provided we don’t see a sharp deterioration in global conditions, February seems the most likely window for another 25bps cut in the cash rate to 4.25%,” ANZ said last week.
ANZ chief economist Warren Hogan says if there continue to be “bad days in the global markets”, then there would be a case for an “insurance cut by the RBA in December”.
The latest six-monthly report by the World Bank on East Asia said the major threat to sustaining strong growth in the region was the continuation of financial turmoil in Europe.
 
 
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lschlesinger-FZcF9M3vE6

JP Morgan and other investment banks tip December rate cut

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??Sydney office landlords look well placed for an increase in rental returns over the coming months, with the city entering an accelerating rental growth phase, according to a third-quarter global office market outlook report from CBRE.

Sydney’s strong growth prospects are in contrast to other major Asia Pacific prime office locations such as Hong Kong, Singapore and Shanghai, where rental growth is slowing.
Rental growth is also expected to slow down in the London and New York, according to CBRE.
<img src="/images/stories/cbrenov23.gif">
The report also notes that leasing deals in Melbourne (alongside Taipei, Kuala Lumpur and India) were modest relative to their market size in the third quarter of 2011.
Sydney’s strong position is in contrast to only modest improvement in global office market sentiment, with the CBRE Global Office Rent Index gaining just 0.9% in the third quarter of 2011 due to occupiers remaining “more cautious about space commitments”.
The 0.9% gain is the lowest recorded since the first quarter of recovery – the second quarter of 2010 – and 32 basis points below the 1.2% average quarterly gain recorded since the market’s trough.
The index was boosted by the Asia Pacific region, which recorded a 12.9% year-on-year increase in the third quarter.
However, for the third quarter, rents increased by a modest 2.2%, indicating that rent increases have slowed in the region.
Despite the global rental growth slowdown in the third quarter, 15 of the CBRE Global Office Rent Cycle’s 18 prime markets passed their respective troughs (including Sydney), while three markets experienced rental declines.
The three markets to experience rent declines were Tokyo, Los and Angeles and Madrid, the same three markets that experienced rent declines in the second quarter of 2011.
According to CBRE, global construction completions have abated in 2010 and 2011, helping to drive office demand and slowly absorb some of the vacant space in the market.
However, net absorption remains well below pre-recession levels, both globally and in the major regions. Asia is the exception, where office demand and absorption have been stronger than their pre-recession levels.
The report notes that while economic growth has moderated in the Asia Pacific, the employment rate, consumer confidence and economic remained strong in the third quarter.
 
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Sydney office rents poised for rapid growth: CBRE

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Australia’s largest apartment developer, Harry Triguboff, has confirmed that Chinese buying of inner-Sydney apartments has halved in the last month. The China squeeze on its property market and fears about the level of our dollar are now having a direct effect on the Australian dwelling market.  Triguboff believes that the sharp cutback in Chinese apartment demand will probably reduce apartment prices in Sydney by about 10%, but the prices will not collapse. He believes that a fall in apartment prices will flow on to the whole dwelling market in Sydney.  But what we are looking at is a much bigger squeeze on Australian finance, because as I revealed last week, European banks are now looking to quit their Australian loans (<a href="https://www.businessspectator.com.au/bs.nsf/Article/Europe-crisis-markets-investment-banks-Germany-Fra-pd20111117-NNS8B?OpenDocument&amp;src=mp" target="_blank">The euro's last-minute print job</a>, November 17). The Chinese apartment pullback and the European bank withdrawal plus the truly astounding events in Europe – where (in the words of Westpac’s London man James Shugg) the world is watching a train wreck taking place in slow motion – is going to intensify the pressures on the Reserve Bank to reduce interest rates a lot further.  We are not on the front line, but the missiles have reached our shores.  Yesterday I looked at the effect of the European mess plus the China downturn and its possible effect on Australian property and other areas (<a href="https://www.businessspectator.com.au/bs.nsf/Article/Australian-property-prices-China-real-estate-apart-pd20111122-NTRM2?OpenDocument&amp;src=sph" target="_blank">China triggers the recession alarm</a>, November 22).  Mainland Chinese investors had been almost the sole buyer of Sydney apartments, investing about $2 billion a year and they were major buyers in Melbourne, taking their annual investment rate to about $3 billion. They were seeking to have some of their funds outside of China as a risk hedge.  But there are now much greater liquidity pressures at home and those that bought when when the dollar was around $1.08 are showing a 10% loss. At the moment, there are a great many apartment towers being built in Sydney and to a lesser extent Melbourne, where the mainland Chinese have bought off the plan, usually with a 10 % deposit. Triguboff says so far all Chinese buyers have honoured their agreements but no one can be sure which way the Chinese will jump if the global crisis intensifies. If they failed to honour their agreements, then apartment prices would almost certainly fall by more than 10%. On the other hand, lower interest rates and the lift in rents are starting to rekindle some Australian buying of apartments, which will be helped by the lower prices. But Triguboff fears that the Australian banks may be on the way to engineering their own train crash, albeit nothing anywhere near as serious as the European disaster. Australian banks – having been the main driver of higher house and, to some extent, apartment prices – are once again lowering the values of dwellings in determining how much they will lend. While the Chinese were buying apartments that did not matter, although it has contributed to a large number of unsold houses in most capitals. If Australians can’t get bank finance to buy apartments and the Chinese withdrawal intensifies, then we will see even greater pressure on dwelling prices. This is not a forecast, but when banks push prices up via their lending policies and then push them down with different policies, then they have only themselves to blame for any losses. Of course, in the apartment market local councils and state governments have taken actions that have increased the price of apartments by about 15%. If the councils and other bodies made the rules for approvals straightforward and made their building requirements fit into economic construction methods and market demand, then apartment costs would fall (<a href="https://www.businessspectator.com.au/bs.nsf/Article/Harry-Triguboff-China-apartment-property-interest--pd20111026-MYRRJ?opendocument&amp;src=rss" target="_blank">Apartment antics hurt Australia</a>, October 26). This would enable Australians to buy them, but might affect the values of existing apartments.  There will be many twists in this tale, some of them rather unpleasant.
This article originally appeared on <a target="_blank" href="https://www.businessspectator.com.au/bs.nsf/Article/apartments-Australia-China-housing-market-prices-r-pd20111123-NURMV?OpenDocument&amp;src=sph&amp;src=rot">Business Spectator</a>.
 
 
 
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rgottliebsen-VjLFh9nsD4

The sting in a China property tale: Robert Gottliebsen

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Property fund manager Cromwell has paid $186 million to acquire Leighton Properties’ HQ North Tower in Brisbane’s booming Fortitude Valley.
The sale price set a new record for the largest office transaction for a Brisbane city fringe development in Queensland history.
The sale was negotiated by Bruce Baker, Richard Butler and Bill Tucker from CBRE.
HQ North Tower contains 28,000 square metres of office space as well as ground-floor retail and forms part of the HQ precinct, a new commercial zone comprising 44,000 square metres of commercial office and retail space, restaurants, cafés, wine bars and a public plaza.
Tenants include AECOM and Bechtel.
The south tower was old last year to Swiss-based fund manager AFIAA for $94 million.
HQ was built at a cost of $177 million and designed by architects Bligh Voiler Nield.
Leighton Properties managing director Mark Gray says the capital from the sale will be redeployed in further opportunities both in the residential and commercial sectors.
“This sale reflects the underlying strength of the Valley office market and the quality of the tower’s award-winning, sustainable design.
“The sale further reinforces Fortitude Valley as the premier location for investment in Brisbane outside of the CBD,” says Baker. “It also demonstrates the value of high-quality assets with first-rate sustainability measures.”
In addition to the 6 Star Green Star – Office Design and Office As Built v2 ratings, the development has also recently received several national awards including Urban Taskforce of  Australia’s National Development of the Year 2011; Brisbane Lord Mayor’s Sustainability in Business Award 2011; and UDIA QLD Boral Awards for Excellence in Large Retail/Commercial.
The South Tower is the headquarters for Leighton Properties and Leighton Contractors.
Cromwell also purchased Leighton Properties’ proposed new office tower in the Ipswich CBD earlier this month for $93 million.
 
 
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Cromwell pays record $186 million for Fortitude Valley office tower

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To my surprise, very few investors (and sadly fewer property gate-keepers) know about the National Rental Affordability Scheme.  And if they know something about it, then they are dismissive of it.  And mostly – I feel – out of fear and/or ignorance.
Yes, like most government schemes, what NRAS is and its merits have been poorly communicated.  And in some instances, its application further entrenches its incorrect “welfare housing” persona.  But overall, it is a great scheme and too few investors (and developers) are taking the $10,000 annual rental subsidy seriously.
So what exactly is NRAS?
The National Rental Affordability Scheme or NRAS is a federal government initiative designed to tackle the issue of affordable housing.
NRAS is not a public or social housing program, but rather a tax incentive to provide quality housing at below market rental rates.
Run in conjunction with state governments, NRAS aims to induce more investment in the lower price range of the residential construction and rental market by offering inducements to investors who participate in the scheme.
NRAS offers property investors a tax-free incentive for each property for a maximum of 10 years.
Currently, this incentive is $9,524 per year for every NRAS dwelling an investor owns, comprising a federal government contribution of $7,143 per dwelling, available as a refundable tax offset; plus a state or territory contribution of $2,381 per dwelling per year, as a cash payment or in-kind financial support.
In return, rents for NRAS dwellings must be charged at no more than 80% of the market rent valuation and there is to be a maximum of one rent increase for each dwelling each year.
In Queensland for example, the state government maintains a list of NRAS-approved tenants, who must meet strict eligibility requirements.
When a vacancy occurs, eligible rental applicants are referred to approved tenancy managers who manage NRAS properties on behalf of owners.
Standard residential tenancy laws apply to NRAS properties just as they do for any private residential investment.
In other words, the same rules regarding evictions, maintenance obligations and responsibilities of tenants apply to NRAS tenants as they do to other tenants in the private sector.
Rents are indexed annually in line with the percentage change in the rental CPI component, except in years four and seven, when independent valuations are required.
And importantly, investors may exit the scheme at any time with appropriate notice and without any financial penalties.
In general, NRAS projects are well-located in terms of jobs, amenities and public transport.  And in general, the design and quality of NRAS dwellings compares favourably with any private non-NRAS dwelling.
NRAS properties often co-exist within developments with other non-NRAS product.
Some of the points of difference that NRAS offers to property investors are:
•             all the benefits of a normal investment property with added annual tax-free government incentives
•             investors can apply property expenses, non-cash deductions and allowances against a lower assessable rental income, increasing the gearing benefit
•             more than 1.5 million Australian households are eligible to rent NRAS properties, hence vacancy risk is negligible
•             tenants are selected on their potential to be good tenants and their capacity to meet strict eligibility requirements
•             in many markets, NRAS properties often deliver a cash flow-positive investment
•             importantly, self-managed super funds can purchase these properties
•             NRAS dwellings are private property – no government holds or caveats.
So here we have a scheme that shows many investment properties as cash-flow positive in the first year – and these are more often than not backed up by impressive (well by residential property standards) independent financial analysis.
What’s not to like here?  You are making money from day one; providing affordable rent for those that are finding it a bit hard; have a 10-year rental guarantee (assuming the government doesn’t water down or scrap the scheme); hassle free-management (on paper at least); and a box of chocolates from the government every year.
It appears to tick all the boxes.
Several of our developer clients inform us that their NRAS product is now the first to sell to investors.
Yet the banks are scared of it and will only finance 70% of the purchase price.  Some banks flatly refuse to be involved.  So, too, do too many solicitors, accountants, loan brokers and real estate agents.
True to form, valuers are discounting end prices by 20% – one assumes because the owner can only charge 80% of market rent and most valuers won’t include a subsidy when determining value, despite it coming from the government and being a 10-year program.
Yes, NRAS is somewhat new; it hasn’t been that well communicated and it is a government-funded subsidy.  But welfare housing it isn’t and gone are the days where one’s residential investment strategy was as simple as “buy and forget”.
Our mindset is that property investors will need to look for every break they can get.
NRAS is a break worth considering.
<a target="_blank" href="https://www.propertyobserver.com.au/residential/national-rental-affordability-scheme-opportunities-for-nsw-and-queensland-investors/2011112252029">Queensland and NSW have received more than half of the 17,000 incentives in the latest round of funding, </a>including for properties to be built in areas impacted by floods.
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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michaelmatusik-49YzLvdmNv

Investors should consider buying NRAS properties: Michael Matusik

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A combination of declining rental vacancies and an influx of international workers has caused rents to rise by 14.6% in the inner-Perth market and by a whopping 18.6% in Freemantle as the city’s rental crisis deepens.
In Perth, the median weekly rent for a house has risen to $550 and $500 for an apartment, while in Freemantle a house will cost $593 a week to rent and an apartment $400 per week.
Rents for the September quarter are up 10.5% in Cockburn in Perth’s southern suburbs and 8.7% in Stirling West in the city’s northern suburbs.
Rents have risen by 7.9% in the western suburbs, where the average weekly rent for a house in Cottesloe, Mosman Park and Claremont is now $750 a week, compared with $695 three months ago.
Across the Perth metropolitan region, rents have risen 4.2% for the quarter, with median house and multi-residential rents increasing by $10 per week for the quarter, taking the median house rent to $400 per week and the median unit rent to $380 per week.
“This latest increase in rents will no doubt place further pressure on existing household budgets that are already under stress from across the board increases in living costs, including with groceries, gas and electricity,” says David Airey, president of the Real Estate Institute of Western Australia.
<table cellpadding="0" cellspacing="0" border="0" style="width: 352px;"><tbody>
<tr>
<td width="161">
Q3 2011
</td>
<td colspan="2" width="64">
House Median
</td>
<td width="64">
Unit Median
</td>
<td width="64">
Total Median
</td>
</tr>
<tr>
<td valign="bottom" nowrap width="161">
Perth Metro Region
</td>
<td valign="bottom" colspan="2" nowrap width="64">
$400
</td>
<td valign="bottom" nowrap width="64">
$380
</td>
<td valign="bottom" nowrap width="64">
$395
</td>
</tr>
<tr>
<td valign="bottom" nowrap width="161">
Armadale/Serpentine
</td>
<td valign="bottom" colspan="2" nowrap width="64">
$345
</td>
<td valign="bottom" nowrap width="64">
$310
</td>
<td valign="bottom" nowrap width="64">
$330
</td>
</tr>
<tr>
<td valign="bottom" nowrap width="161">
Bassendean/Bayswater
</td>
<td valign="bottom" colspan="2" nowrap width="64">
$390
</td>
<td valign="bottom" nowrap width="64">
$350
</td>
<td valign="bottom" nowrap width="64">
$375
</td>
</tr>
<tr>
<td valign="bottom" nowrap width="161">
Belmont
</td>
<td valign="bottom" colspan="2" nowrap width="64">
$380
</td>
<td valign="bottom" nowrap width="64">
$400
</td>
<td valign="bottom" nowrap width="64">
$390
</td>
</tr>
<tr>
<td valign="bottom" nowrap width="161">
Canning
</td>
<td valign="bottom" colspan="2" nowrap width="64">
$400
</td>
<td valign="bottom" nowrap width="64">
$360
</td>
<td valign="bottom" nowrap width="64">
$380
</td>
</tr>
<tr>
<td valign="bottom" nowrap width="161">
Cockburn
</td>
<td valign="bottom" colspan="2" nowrap width="64">
$420
</td>
<td valign="bottom" nowrap width="64">
$375
</td>
<td valign="bottom" nowrap width="64">
$400
</td>
</tr>
<tr>
<td valign="bottom" nowrap width="161">
Fremantle
</td>
<td valign="bottom" colspan="2" nowrap width="64">
$593
</td>
<td valign="bottom" nowrap width="64">
$400
</td>
<td valign="bottom" nowrap width="64">
$475
</td>
</tr>
<tr>
<td valign="bottom" nowrap width="161">
Gosnells
</td>
<td valign="bottom" colspan="2" nowrap width="64">
$385
</td>
<td valign="bottom" nowrap width="64">
$320
</td>
<td valign="bottom" nowrap width="64">
$370
</td>
</tr>
<tr>
<td valign="bottom" nowrap width="161">
Hills
</td>
<td valign="bottom" colspan="2" nowrap width="64">
$400
</td>
<td valign="bottom" nowrap width="64">
$320
</td>
<td valign="bottom" nowrap width="64">
$395
</td>
</tr>
<tr>
<td valign="bottom" nowrap width="161">
Joondalup North
</td>
<td valign="bottom" colspan="2" nowrap width="64">
$430
</td>
<td valign="bottom" nowrap width="64">
$380
</td>
<td valign="bottom" nowrap width="64">
$400
</td>
</tr>
<tr>
<td valign="bottom" nowrap width="161">
Joondalup South
</td>
<td valign="bottom" colspan="2" nowrap width="64">
$450
</td>
<td valign="bottom" nowrap width="64">
$450
</td>
<td valign="bottom" nowrap width="64">
$450
</td>
</tr>
<tr>
<td valign="bottom" nowrap width="161">
Melville
</td>
<td valign="bottom" colspan="2" nowrap width="64">
$470
</td>
<td valign="bottom" nowrap width="64">
$370
</td>
<td valign="bottom" nowrap width="64">
$433
</td>
</tr>
<tr>
<td valign="bottom" nowrap width="161">
Perth City
</td>
<td valign="bottom" colspan="2" nowrap width="64">
$550
</td>
<td valign="bottom" nowrap width="64">
$500
</td>
<td valign="bottom" nowrap width="64">
$500
</td>
</tr>
<tr>
<td valign="bottom" nowrap width="161">
Rockingham/Kwinana
</td>
<td valign="bottom" colspan="2" nowrap width="64">
$360
</td>
<td valign="bottom" nowrap width="64">
$300
</td>
<td valign="bottom" nowrap width="64">
$350
</td>
</tr>
<tr>
<td valign="bottom" nowrap width="161">
South Perth/Victoria Park
</td>
<td valign="bottom" colspan="2" nowrap width="64">
$450
</td>
<td valign="bottom" nowrap width="64">
$380
</td>
<td valign="bottom" nowrap width="64">
$400
</td>
</tr>
<tr>
<td valign="bottom" nowrap width="161">
Stirling East
</td>
<td valign="bottom" colspan="2" nowrap width="64">
$370
</td>
<td valign="bottom" nowrap width="64">
$350
</td>
<td valign="bottom" nowrap width="64">
$360
</td>
</tr>
<tr>
<td valign="bottom" nowrap width="161">
Stirling West
</td>
<td valign="bottom" colspan="2" nowrap width="64">
$500
</td>
<td valign="bottom" nowrap width="64">
$388
</td>
<td valign="bottom" nowrap width="64">
$440
</td>
</tr>
<tr>
<td valign="bottom" nowrap width="161">
Swan
</td>
<td valign="bottom" colspan="2" nowrap width="64">
$380
</td>
<td valign="bottom" nowrap width="64">
$350
</td>
<td valign="bottom" nowrap width="64">
$370
</td>
</tr>
<tr>
<td valign="bottom" nowrap width="161">
Vincent/Stirling SE
</td>
<td valign="bottom" colspan="2" nowrap width="64">
$500
</td>
<td valign="bottom" nowrap width="64">
$360
</td>
<td valign="bottom" nowrap width="64">
$405
</td>
</tr>
<tr>
<td valign="bottom" nowrap width="161">
Wanneroo North East
</td>
<td valign="bottom" colspan="2" nowrap width="64">
$420
</td>
<td valign="bottom" nowrap width="64">
$380
</td>
<td valign="bottom" nowrap width="64">
$410
</td>
</tr>
<tr>
<td valign="bottom" nowrap width="161">
Wanneroo North West
</td>
<td valign="bottom" colspan="2" nowrap width="64">
$380
</td>
<td valign="bottom" nowrap width="64">
$340
</td>
<td valign="bottom" nowrap width="64">
$375
</td>
</tr>
<tr>
<td valign="bottom" nowrap width="161">
Wanneroo South
</td>
<td valign="bottom" colspan="2" nowrap width="64">
$415
</td>
<td valign="bottom" nowrap width="64">
$353
</td>
<td valign="bottom" nowrap width="64">
$400
</td>
</tr>
<tr>
<td valign="bottom" nowrap width="161">
Western Suburbs
</td>
<td valign="bottom" colspan="2" nowrap width="64">
$750
</td>
<td valign="bottom" nowrap width="64">
$400
</td>
<td valign="bottom" nowrap width="64">
$500
</td>
</tr>
</tbody></table>
Source: REIWA
As point of comparison, Sydney, Brisbane and Melbourne rents were unchanged over the September quarter according to research Australian Property Monitors.
A <a href="https://www.propertyobserver.com.au/landlords/perth-vacancies-tighten-for-fifth-month-in-a-row-sqm-research/2011112252474?source=flicker1" target="_blank">report put out today by SQM Research</a> reveals that the vacancy rate in Perth fell for the fifth straight month in October, tightening by 0.2% from 0.9% to 0.7%, with the number of rentals falling from 1,436 to 1,119.
The situation has deteriorated so much that tenants are offering $20 to $30 above the asking price to secure a lease or putting up with living in accommodation that Burswood property manager Hazel MacDonald told the Sydney Morning Herald she would not put her dog in.
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Perth rents soar as vacancies tighten further

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A new development in Southbank is set to resemble New York’s famous Flatiron building.
<img src="/images/stories/banque1.jpg">
To cope with the triangular block, Chinese developer CBD will create an unusually shaped 22-storey building in Clarke Street, Southbank. Urban Design Architects has designed the project.
Sales consultant Paul Raimondo of Castran Gilbert, which is marketing the off-the-plan apartments, says the unusual footprint offers buyers a choice of more appealing designs.
“Because the block is triangular in shape, it’s made some interesting floorplans,” Raimondo says. “They are not the standard rectangular boxes.”
He adds that the building’s shape helps illuminate more of the interiors.
“Almost all of them have natural light to all the bedrooms, which is rare these days,” he says.
<img src="/images/stories/banque2.jpg">
The development will comprise 92 one- and two-bedroom apartments, with the ratio about one-third to two-thirds in favour of the larger configuration. One-bedroom apartments will range from 35 square metres to 40 square metres, and two-bedroom units will be between 55 and 71 square metres. One-bedroom units start at $249,950, and two-bedroom units start at $399,000.
Raimondo says sales have been brisk since the development launched about three weeks ago, with about 20 of the units already sold.
<img src="/images/stories/banque4.jpg">
He says they have sold to an even mix of owner-occupiers and investors, as the location and price point appeal equally to both.
“We’re going to target younger people, first-home buyers who want to live out of home and live in the city,” Raimondo says. He adds that the Southbank location also appeals to investors.
“They will rent really well, due to their proximity to Crown and the city.”
Construction is expected to begin in February 2012 and be finished in the middle of 2013.
For advice on buying off the plan, download our free e-book.
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cknowlton-QnEa6ntUYP

Banque88 development emulates New York's Flatiron building in Southbank

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Investors in NSW and Queensland will have the opportunity to acquire more than 10,000 properties that qualify for the government’s national rental affordability scheme (NRAS) following the launch of the latest round of the program.
The two states have received more than half of the 17,000 incentives including for properties to be built in areas impacted by floods.
According to the latest government records, 54 applications have been approved to build a total of 4,800 dwellings in NSW, taking its total since the inception of the scheme to 6,800.
The most successful NSW applicant is property developer Frasers, which has been granted a licence to build 828 dwellings.
In Queensland, 62 applicants have been approved to build a total of 5,700 dwellings with the not-for-profit Queensland Affordable Housing Consortium granted a licence to build over 1,300 dwellings.
The state has been the biggest beneficiary of the scheme to date with 11,200 properties qualifying for government incentives.
Applications to build 2,300 dwelling have been approved in Western Australia (taking the total to 5,000) and over 1,000 in Tasmania (a total of 1,600). Around 900 qualifying homes will be built in Victoria taking the total to 6,900.
Ruby Janssen from Onyx, one of the largest sellers of NRAS-qualifying properties, says the schemes appeals to investors who want to invest in a positive cash flow property but still receive the negative gearing benefits.
“An NRAS property is really good for a first time investor as it does not put strain on their cash flow.
The scheme offers annual incentives for 10 years with the two key elements being a commonwealth government incentive currently of $7,143 per dwelling per year as a refundable tax offset or payment and a state or territory government incentive currently of $2,381 per dwelling per year in direct or in kind financial support.
According to Janssen, owners of NRAS properties receive around $60 less per week in week, but are compensated by receiving $183 dollars a week in tax-free rental income.
Realestate.com.au is advertising off-the-plan NRAS properties starting from just over $220,000 for a studio apartment in the Newstead on the Brisbane River.
An apartment block featuring eight two-bedroom apartments in Deception Bay, Queensland is asking $2.12 million.
The government has committed to support 50,000 NRAS properties, with up to 35,000 dwellings available to rent across the country by June 30 2014, and the remaining 15,000 available by June 30 2016.
To date 4,178 privately owned dwellings are tenanted or available for rent across the country under the scheme.
A couple with three children earning up to $104,913 per annum are eligible to rent an NRAS dwelling, while the lower limit starting at around $60,000 for a two-adult household.
The privately owned developments range from studio apartments to large family homes, and are located in areas identified by state and territory government partners where affordable rental accommodation is most needed, particularly in areas with employment, transport, schools and other services available nearby.
The scheme applies to newly built properties which are then tenanted to low and middle income earners.
Properties must be leased at 20% below the market rate.
According to real estate groups specialising in NRAS properties, the major banks are starting to get on board with financing the purchase of qualifying properties.
Westpac and NAB already providing financing for the scheme while <a target="_blank" href="/news">ANZ told Property Observer in September it was looking at ways to support government initiatives to house low-income earners.</a>
 
 
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National Rental Affordability Scheme opportunities for NSW and Queensland investors

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Developer Katie Page's proposed 10-storey high rise on Main Beach Parade will proceed, after Brisbane’s Court of Appeal yesterday dismissed an appeal from the council.
The wife of retail king Gerry Harvey got her 10-storey approval despite Gold Coast Council’s 1982 overlay map relevant to the Main Beach Parade beachfront site designating a maximum building height of three storeys.
The initial judge had concluded that the proposed development met the applicable performance criteria but this was appealed by the council, which considered the judge had misconstrued the planning scheme and thereby erred in law by approving a development with such height disparity.
The council must pay Page’s costs in the case, where she was represented by D. R. Gore QC, with B. D. Job briefed by Mallesons Stephen Jacques.
The appeals court ruled it was common ground that the overlay map’s reference to a maximum height was not prescriptive. The land to the immediate west of Main Beach Parade is within a 25-storey designation.
Page’s application proposed a seven-storey building with a partial eighth storey, but because of floor to ceiling heights, it amounted to a 10-storey building for the purposes of the relevant planning scheme.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/stories/mainbeach.jpg">
The proposal is considerably lower than the tall towers that visually dominate to the west of Main Beach Parade. It is also lower than three nearby beachfront high-rise developments, namely Golden Sands (18 storeys), Hibiscus (12 storeys) and Beachside (16 storeys), which are also to the east of Main Beach Parade.
The initial judgement by Judge Michael Rackemann in February 2011 noted it was set to have an architectural quality higher than “what applies to many other buildings in Main Beach.”
“Whilst aesthetics are necessarily somewhat subjective, the building incorporates a range of interesting design features including in respect of materials, patterns, textures and colours.
“It will, I find, be designed and constructed to a high aesthetic standard,” he ruled.
Page paid $15.5 million in 2007 for the 882-square-metre block. 
 
 
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jchancellor-FAypfDUnLy

Katie Page triumphs over Gold Coast Council for 10-storey building

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Over the years I have seen many people think about getting rich, proclaiming affirmations, visualising and meditating, yet they don’t get rich. 
Let’s be realistic, to get ahead in the real world you have to take action. 
Why is it that most people don’t take action? 
Sometimes it is lack of knowledge, but more frequently it comes down to fear that stops people from living their dreams. 
However, successful people tend to act in spite of their fears. They’ve learned to harness their fears and use them to their advantage. 
I understand that Tiger Woods keeps training, uses a coach and continues playing at the intensity he does because of fear. The fear of not being the best and that someone else may play golf as well as he does. 
The most common reason people don’t getting involved in property investment is fear. The fear of failure or that they will lose money or that people will ridicule them. 
The key to success is not to let your fears scare you into inaction, but to use them to prepare you for action. 
Apart from failure, let’s look at some other potential fears. 
The fear of ridicule 
You can’t do much about what other people say, but you can control how you react to it. The people trying to stop you achieving your dreams have probably lost the ability to do the same. The only way they know how to build themselves up is to bring other people down.
 Now that is sad, but it’s not your problem. No one has ever died of embarrassment, so tune out to the critics and focus on what you want to accomplish. 
The fear of success 
Surprisingly the fear of success can be almost as paralysing as the fear of failure. It often follows on once you have conquered the fear of failure. 
It is ironic that you work so hard to overcome the fear of failure and achieve success, and then all of a sudden you become afraid that you won’t be able to maintain your success. Yet I have seen this happen to many investors once they have grown a sizeable property portfolio. 
Things seem to be going well and then they start feeling uncomfortable. While there is no logical reason for this, we are all controlled by our own internal “financial thermostat” that sets our level of comfort. 
Yours is set to a particular level of success that you see yourself at with your self-image. If you exceed that level of success you become nervous and fearful. I have seen this fear sabotage the efforts of property investors because their inner thermostat just didn’t allow them to see themselves as successful. In fact, they were so afraid of what might happen when they become successful so they subconsciously did things that keep them from being successful. 
The fear of not being worthy
 
Many people fail to take action because they fear they don’t deserve wealth. This also stems from the “financial programming” they received in childhood. All those negative things that some well-meaning people said early in their lives. Things like “Don’t be greedy”, “People like us don’t get rich”, “What makes you think you can do that when others have failed?” 
I’ve also seen investors adults sabotage their wealth because they felt undeserving. I must admit I have things I don’t need, yet I have them because I want them, because I enjoy them and because I can afford them. The difference is I feel I deserve everything I have because I have earned it. 
The fear of debt 
Obviously the fear of debt holds some investors back, however debt shouldn’t be feared. It’s the inability to service the debt or repay the loans that should be feared. If you understand how to use debt wisely and if you know the difference between good and bad debt, there is nothing to fear. 
By the way, it is not necessary to get rid of all your fears to succeed. 
All rich and successful people have fears, doubts and worries; they just don’t let those feelings stop them. That is the big difference: unsuccessful people also have fears, doubts and worries but they let those feelings stop them. 
It is normal for your brain to bring up these fears. Your mind is protecting you. It is doing its job. And acting in spite of your fears is going to be uncomfortable. We all like living in our comfort zones because they are comfortable. But if you want to move to a new level you have to break through that comfort zone. I have never moved forward in any aspect of my life without being uncomfortable. Your comfort zone may make you feel warm and fuzzy but it doesn’t allow you to grow. 
If you think about it, every time you tried something new it was probably uncomfortable; but the more you did it the more comfortable it became. 
So every time you are feeling uncomfortable, instead of retreating back into your comfort zone, pat yourself on the back and say, “Hey this is great. I am moving forward and I am growing.” 
Sure, in our current turbulent economic times the constant conveyor belt of negative messages in the media makes it easy to be fearful, but remember the words of the great investor Warren Buffet: “I like to be fearful when others are greedy and greedy when others are fearful.” 
If you want to be a successful property investor, and if you truly want to be one of the wealthy, you are going to have to become comfortable with being uncomfortable.
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. 
 
</body></html>

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