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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Major shareholders in Centro Retail Trust have backed a restructuring proposal for the Centro Properties Group.
Proxy votes submitted at nine meetings in Melbourne today voted in favour of the scheme with approvals of between 85% and 96%, the Australian Financial Review reported.
Investors in other Centro offshoots still need to vote on the proposal, but winning the support of Centro Retail Trust investors is considered crucial to the restructure going ahead.
The AFR notes, however, that some investors such as JP Morgan are still unhappy with the proposal and could vote it down.
Under the restructuring proposal Centro Properties Group will be wound up, with the remaining Australian assets held by subsidiary Centro Retail Trust and other unlisted Centro funds amalgamated into a new listed property trust, Centro Retail Australia.
The decision by institutional investors and hedge funds to back the <a href="https://www.propertyobserver.com.au/commercial/centro-shares-up-after-revised-restructure-proposal/2011112152461" target="_blank">proposal follows the Centro Retail Trust sweetening the deal</a> by offering investors a 10% improvement in their stake in Centro Retail Australia.
Centro faces a December 15 deadline to pay back $3 billion of debt, which it cannot meet under its existing structure. Failure by the board to win approval for the restructure will most likely cause the company to be placed in the hands of external administrators.
 
 
 
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Centro finds support for restructure proposal

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Karin Upton Baker, the Sydney boss of highly profitable French luxury goods chain Hermes, has settled her $18 million dispute with her Perpetual Trustee Company mortgagees out of court.

She was due to take the stand at a three-week hearing due to start yesterday. But instead she’s back at her desk presiding over the recently expanded luxury goods store, which reported $32 million turnover and a $5.2 million profit in its most recent financial results. Such was its improvement on its previous result – $3.8 million profit on a $25 million turnover – that the Sydney office was able to send back a $6 million dividend to head office.

Upton Baker’s lawyers told the court there had been an in-principle settlement with the terms of the settlement not being revealed, according to the Australian Financial Review.

[smartcode_project:default project_id=6798]

It’s not known if the legal settlement includes her husband, Gary Baker, the Sydney property developer, who’s been battling bankruptcy attempts by Perpetual Trustee.

Her husband’s next court appearance has been scheduled for February 10 next year, Justice Anna Katzmann determined last month, after a series of postponements since his notice of appeal was filed in May.

Upton Baker, the managing director of Hermes Australia and former Harper's Bazaar editor, had been entangled in the financial court case since 2009.

Upton Baker, who earns $360,000 a year, was sued by lender Challenger Managed Investments after she stopped repaying the mortgage she took out in December 2006.

[smartcode_project:default project_id=7633]

It’s been an embarrassing saga played out in the courts with details of the couple’s personal finances and relationship made public over her alleged default on $18 million in property development loans, which had her Elizabeth Bay non-waterfront penthouse (pictured above) as collateral.

Her affidavits presented the argument that husband Gary Baker "enjoyed such an ascendancy over" her that she could not "make any worthwhile judgment", signing the $18 million worth of mortgages, according to Vanda Carson's Daily Telegraph report.

She claimed she was "reduced to tears at her husband's insistence she sign" mortgage documents "under threat that, if she did not do so, the family would 'lose everything'."

Gary Baker’s dream development was a project overlooking Bondi Beach that turned into a nightmare.

An examination by the liquidator of one of Gary Baker's companies heard that the couple borrowed more than $10 million in 2006 for the Maxwell Court, Bondi project.

They planned to use the funds to buy the eight apartments at 6 Notts Avenue, a rundown 1920s building with postcard views of Bondi Beach.

The Bakers spent $12.2 million on their six purchases over 20 months.

But the couple's plans were stymied when they were unable to get two of the owners in the building to sell – and left holding six apartments in the block.

Without ownership of the entire building, their development was unfeasible and they were stuck with a loan they could not repay or refinance.

[smartcode_project:default project_id=89516]

By late 2010 the overly ambitious Bondi Beach apartment block consolidation lost its foundations in resales.

The mortgagee sold the first one of the six prime Notts Avenue apartments for $1.5 million, having funded its $3.5 million purchase in early 2008.

The listing was the costliest of the purchases in the amalgamation attempt that began in late 2006 with a $1.1 million acquisition.

Each of the apartments had two bedrooms, one bathroom and a sunroom, totalling 103 square metres.

Challenger Managed Investments, which financed the other consolidated units, sold the five other apartments for $7.8 million last December.

The mortgagees, Perpetual and Challenger Managed Investments, sought vacant possession in February of the Elizabeth Bay penthouse.

For the past decade Upton Baker has headed the French house Hermes, which opened a new menswear department within its expanded Elizabeth Street store earlier this year.

Click to enlarge

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Karin Upton Baker and Gary Baker start untangling their financial knots

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Last night's fall in global share and commodity markets plus the slump in the Australian dollar will affect not just Australian superannuation balances and consumer confidence, but will extend deep into sectors of the Australian dwelling market. If you are about to buy or sell an apartment or house, you need to be aware of the forces that have been unleashed.

The most dramatic contributor to last night's drop, from an Australian point of view, was not the growing frustration with Europe; it was not the global banking crisis; and it was not the fact that the US must introduce mandatory spending cuts. All of those events were very important, but what spooked our part of the world was the statement by Chinese Vice Premier Wang Qishan that a long-term global recession is certain to happen and China must focus on domestic problems. In the last few months, Wang Qishan has been meeting with global leaders including telephone talks with US Treasury Secretary Timothy Geithner.
We tend to underestimate the severity of the Chinese situation. According to the Financial Times, the number of property transactions in China's largest cities has fallen to dangerously low levels. The FT reports that the China Banking Regulatory Commission earlier this year ordered domestic banks to weigh the impact of a 30% decline in housing transactions in "stress tests" aimed at determining the health of the Chinese financial system.
A Chinese real estate slump would have a significant ripple effect on the global economy. Property construction accounted for more than 13% of China's economy last year. No doubt this is part of what is concerning the Chinese leadership.
If the Chinese leadership has concluded that there is to be a global recession, and is adjusting its domestic policies as a result, then Australia will not escape.
Let me explain how we will get caught. First understand that behind all the Greece, Italian and Spanish drama is potentially one of the greatest banking crises the world has seen in recent decades. Major European banks, led by those in France and Germany, have taken depositors' money and loaned it in big lumps to problem countries like Greece, Spain and Italy. The fall in the market value of those loans has caused the foolish banks to lose all their capital and much more. But the banks refuse to face up to the truth and take the necessary actions.
As a result no major American banks will lend to a European bank. There is a list of pariah banks that few in the world will touch. The European Central Bank is providing the funds to keep the pariah banks alive. Mixed in this morass is a web of derivative securities that these pariah banks are parties to. No one knows where that heads but everyone assumes that Germany and France will not let their banks fail.
Last week I spoke with leading investment bankers who concluded that once the crisis became deep enough, Europe would begin printing money to solve the problem.
The European banking crisis will affect Australian banks because it will make it harder and more expensive for them to undertake their overseas borrowings, which fund about 40% of their book.
Worse still, if the crisis is further inflamed, European banks might have to dump their Australian securities. At least one European bank has sent people to Australia to canvass that option.
On the other hand, the likelihood that the Reserve Bank of Australia will cut interest rates has been increased. However it will be harder for many banks to pass on those rate cuts.
All those events affect our dwelling market. But there is more. Currently the Chinese are spending about $3 billion a year buying apartments in Sydney and, to a lesser extent, in Melbourne. Without Chinese buying, apartment prices would fall and it would be impossible to justify the building of major inner city apartment blocks given the policies of local councils and other bodies who add about 20 per cent to the cost of an apartment.
Most of the Chinese who bought Sydney and Melbourne apartments obtained their wealth via the development and purchase of apartments in major Chinese centres. Those apartments are now falling in value and there is a squeeze on.
A month ago there were signs that the Chinese were slowing down their purchases of Australian apartments. Those Chinese who have bought in the past few months have now been savaged by the fall in the Australian dollar. At a time when Chinese buyers of Australian apartments are being squeezed at home, any new Chinese buyer will be nervous that the Australian dollar fall has just started.
Prepare for Chinese buying to be severely curtailed while, in the words of Wang Qishan, the Chinese turn to problems at home.
This article first appeared on <a href="https://www.businessspectator.com.au/">Business Spectator</a>.
 
 
 
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Why China's property wobbles are a big concern for Australia: Robert Gottliebsen

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The Knox Street, Double Bay retail premises with the ANZ Bank as its major tenant since the late 1980s has been listed for sale.
It’s been listed by the executors of Louis Kennedy, the entrepreneurial jeweller who sold diamonds to the Packers and watches to the Rivkins, some three years after his death in 2008 aged 83.
Once known as Kennedy House, it has two shops and six commercial suites.
Its current net annual passing incoming is given as $767,000.
There is a net letable area of 784 square metres on its 474-square-metre holding.
Tony Anderson and Lindsay Sturrock from Cushman &amp; Wakefield have it listed for November 29 auction with $8 million plus hopes.
For many years it served as the retail headquarters of L.K. Jewellery, which proudly introduced glomesh handbags to Australia.
In 1978 the property was leased to Mark Foys Pty Ltd. The ANZ lease began in 1988 at $420,000 a year.
The premises are owned by Kennedy Holdings and Property Management Pty Ltd in partnership with Andale Nominees Pty Ltd, which took equity in 1988.
A 2010 Supreme Court dispute indicated the estate of Louis Kennedy was worth $5.5 million, and after deduction of the costs of the court proceedings, about $5 million.
It suggested the major assets of the estate were a half-share in a commercial property and a share in a jewellery business.
L.K. Jewellery’s former retail space was an elegant little establishment fitted out in black lacquer and bird's-eye maple.
Its premises had a brazen robbery during a busy Saturday in 1994.
There was a stolen car double-parked outside LK Jewellery and three men leapt out, brandishing an axe and a couple of tomahawks.
The thieves, who smashed the window with the axe, made off with eight Rolexes, two bracelets and two rings – a haul worth about $135,000.
L.K. Jewellery still has an office upstairs in the premises.
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Opportunity Knox for prime Double Bay retail space listed for first time in 25 years

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The availability of rental accommodation in Australia’s capital cities remains “excessively tight”, with Perth and Hobart leading the decline in available rentals in October, according to SQM Research. 
The vacancy rate in Perth fell by 0.2 percentage points in October from 0.9% to 0.7%, with the number of rentals falling from 1,436 to 1,119. This was the fifth successive month that the vacancy rate has fallen in Perth. SQM Research director Louis Christopher notes that the Perth suburb of Maylands has a vacancy rate of 0% with just one vacancy. “What this means is that there is only one rental property being advertised online for a period of over three weeks for this postcode,” Christopher says. The Hobart vacancy rate dropped from 2.1% from 1.9% during October, with just 443 rental properties available, according to SQM. The Sydney market also tightened from 1.4% to 1.3% during October, though there are 800 more vacancies than there were a year ago, when the vacancy rate was 1.2%. In terms of raw numbers, Darwin has the fewest number of available rentals at 261, though this is up from 216 in September. Darwin was also the only capital city to experience monthly growth, increasing by 0.2% during the month of October 2011. Nationally, residential vacancies dipped slightly during the month of October, falling from 1.9% to 1.8%, or a total of 45,896 vacancies nationally.
<img src="/images/stories/sqmnov22.gif">
Source: SQM Research
In the over-supplied Melbourne market, vacancies remained at 3%, well above the national average, and up from 2.6% a year ago. 
“On a grand scale we are definitely experiencing an excessively tight market, with only certain pockets of the country suffering an extreme level of vacancies such as Yan Yean South (3,754) in Victoria, which has recorded a vacancy rate of 19.5% for October, almost doubling its amount in vacancies year-on-year,” says Christopher. 
“For the meantime we do not see any light at the end of the tunnel where the rental market is concerned. The trends remain the same with no change in sight.” 
SQM’s calculations of vacancies are based on online rental listings that have been advertised for three weeks or more compared with the total number of established rental properties. 
SQM considers this a superior methodology compared with using a potentially incomplete sample of agency surveys or merely relying on online advertised listings.
 
 
 
 
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Perth vacancies tighten for fifth month in a row: SQM Research

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A former BP station is the site of a new development by Fivex on the foreshore of Woolloomooloo.
The new building, called The Anchorage, will house 15 apartments including a three-bedroom whole-floor penthouse with views over Sydney Harbour Bridge. It has been designed by architecture firm Eeles Trelease.
<img src="/images/stories/anchorage2.jpg">
The developers bought the Cowper Wharf Road site from BP for $3.53 million in a 2002 auction.
It’s currently a vacant lot but the council has approved plans for the developer to build the five-level block.
Prices start at $525,000 for a 49-square-metre studio with no parking and go up to $1.65 million for a 111 square-metre two bedroom apartment with one car park. The 370 square-metre showpiece penthouse will set you back at least $5 million.
<img src="/images/stories/anchorage3.jpg">
The initial residential plans were approved in 2003.
In 2007 Fivex lodged plans for a commercial retail building.
By 2009 Fivex started marketing the office site as Wharfside, with Stephen Bowrey at Jones Lang LaSalle handling negotiations for the mixed retail and commercial complex.
The development, which didn’t proceed, comprised about 1400 square metres of office space over four levels. There were also to be two shops and basement car parking.
Despite the delays, which included Land and Environment Court proceedings, the residential development is expected to be completed before the end of 2013.
Two of the apartments have sold for $800,000 plus in the past month since marketing began.
The apartments are being sold through John-Paul Markopoulos of CBRE.
For advice on buying off the plan download our free e-book.
 
 
 
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Tide turns to residential on long-dormant Woolloomooloo foreshore site

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Investors considering buying in Melbourne should focus on areas where rental demand is strong as the outlook for capital gains over the short term remains weak, according to RP Data national research director Tim Lawless.
Lawless says “[rental] yield maximisation will be the main game for most investors until capital gains start to become apparent again”.
“Most investors should realise that capital gains are not going to be apparent for some time – the market came out of the growth phase around June last year, so we should expect capital gains to be relatively weak over the next year at least,” he writes in The Age.
Besides the potential for rental growth, Lawless says investors should also seek areas “ripe for long-term capital gains”
“Suburbs close to the city that are not reliant on foreign students are likely to be popular, as will be suburbs close to major working nodes and captive rental populations, such as universities and hospitals,” Lawless says.
However, investors will have to search hard to find a Melbourne area where the potential for rental growth is strong.
The city currently has the lowest rental yields of any capital city in Australia, with Melbourne houses returning an average gross rental yield of just 3.8%, with units only slightly better at 4.3% (The combined capital city benchmark is 4.3% for houses and 5% for units, according to RP Data).
Over the past 12 months, the weekly rent on an average Melbourne house increased by just 1.9% to $398 while weekly rents for units increased by just 0.9% to $363, growth well below historical annual rental increases in the Melbourne metro region of 6.5% per year.
When taking inflation into account, it is now cheaper to rent a house or unit in Melbourne than it was a year ago.
According to Lawless, part of the reason for Melbourne’s soft rental market has been an oversupply of housing.
“In the year to September, there were 65% more dwelling approvals in Victoria than in New South Wales, despite the two states having roughly the same level of housing demand as measured by raw population growth.
“The number of land sales in the Melbourne metro region is more than double what was recorded in the Sydney region, once again despite both having similar population growth,” he says.
Lawless says demand for apartment rentals is also being affected by a drop in overseas student numbers, which are well down on the highs of 2008-09.
“According to the Department of Immigration, there were 366,000 student visas lodged in Australia in 2008-09. In 2009-10, 282,000 student visas were lodged – a drop of about 30%,” he says.
 
 
 
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Melbourne investors should look for high rental yields, not capital growth, in the short term: Tim Lawless

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A lack of new industrial space should encourage investment in speculative industrial developments as rents in Australia’s biggest cities continue to rise, according to new research by CBRE.
Sydney ranks the fifth most expensive city in the world to rent industrial space, with Brisbane and Perth also ranking among the top 10.
Adelaide and Melbourne are ranked 17th and 18th respectively. However, while rents in Adelaide decreased over the quarter, Melbourne recorded the biggest increase of any of the main Australian markets at 1.4%.
According to CBRE, the majority of new<a href="https://www.propertyobserver.com.au/commercial/next-year-will-be-good-for-commercial-property-investment/2011112152466" target="_blank"> industrial space</a> is already pre-leased before completion or is purpose-built for industrial tenants.
CBRE’s Global Industrial Rent Index rose by 0.5% quarter-on-quarter in the third quarter and by 1.7% year-on-year, driven primarily by strong occupier activity in Asia Pacific and the stabilisation of rents in Europe, the Middle East, Africa and the US.
According to Ray Torto, global chief economist at CBRE, global industrial rents now reflect 2006 levels primarily due to rental movements in Asia Pacific, which have now surpassed pre-global financial crisis levels.
<img src="/images/stories/cbrenov22.gif">
Source: CBRE Research, exchange rate 30/09/2011
* Note: Tokyo rents are collected bi-annually in Q2 and Q4
“With occupier demand expected to remain robust across the majority of industrial markets, particularly in Asia Pacific and Latin America, we expect to see continued upward pressure on rents over 2012 and 2013, depending on the severity of the sovereign debt crisis,” Torto says.
Commenting on the current outlook for industrial development from a local perspective, CBRE Pacific regional director of industrial and logistics services Joshua Charles says “limited speculative development that has emerged in some markets has been rewarded with quick leasing transactions”.
This he says is due to the continuing expansion of third-party logistics occupiers and the growing storage and importing requirements of retailers in countries benefitting from high currency values.
“As a result the saying ‘if you build it they will come’ is starting to gain very real momentum. The slight growth in global rents, combined with the current space restrictions, has also led to a tightening in lease incentives and we expect this to continue moving forward,” he says.
However, according to Charles, landowners are holding off on speculative development due to the restrictions placed on them by lending institutions in some cases, while others have adopted a wait and see approach due to the current global economic volatility.
When converted into US dollars per square feet, Sydney ranks above Paris, Amsterdam and Hong Kong at $11 per square foot or $126 per square metre in local currency.
Tokyo remains the most expensive city to rent industrial followed by London, Singapore and Sao Paulo.
According to CBRE, Tokyo industrial rents remain at high levels on a global basis, due to the relocation and expansionary requirements of online retailers and third-party logistics operators in the aftermath of the Japan earthquake earlier this year.
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Rising industrial rents should encourage Australian investors: CBRE

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The Real Estate Institute of Australia is urging the government to adopt a successful Canadian scheme that allows first-home buyers to tap into their superannuation to assist with making their first purchase.
The Canadian Home Buyer’s Plan has been in operation since 1992 and allows first-home buyers to withdraw up to $25,000 from their retirement savings plan to purchase or build a home.
The scheme has proven popular, with nearly 1.4 million Canadians withdrawing money from their retirement savings to participate in the plan between 1992 and 2004.
During this period, over 12% of Canadian first-home buyers aged 25 to 44 used the scheme.
According to the REIA, the Canadian scheme does not disadvantage the retirement plans of first-home buyers. Under the plan, funds withdrawn from retirement savings need to be repaid over a 15-year period so as not to impact the ability to enjoy a comfortable retirement.
The average age of first-home buyers in Australia is in the early 30s, with 55% of recent first-home buyers aged 18 to 29 and just over a third (34%) 30 to 39.
The institute has presented the Canadian plan to the government after it was floated at the October tax forum In Canberra by Nicholas Gruen, CEO of Lateral Economics.
“With the number of first-home buyers participating in the housing market declining considerably over the past two years, it is crucial that we look at ways to assist this group to enter the market,” says REIA acting president Pamela Bennett.
“There is proof that the scheme is working in Canada and we should be drawing on this success to assist first home buyers in Australia.
“There has been some speculation that first home buyers in Australia would not have enough in their superannuation for the deposit on a home.  However, in 2007 the median superannuation balance for those who were 25 to 34 was $28,999 and $63,600 for Australians aged between 35 and 44,” Bennett says.
“The Canadian Home Buyer’s Plan is the perfect example of this proposal in action and REIA would like to see it implemented in Australia as a solution to overcome the problems faced by first-home buyers.”
While the most recent REIA/Deposit Power Housing Affordability found the number of new finance commitments to first-home buyers increased 13.4% to a two-year high of 22,992, for the year to June, new finance commitments to first-home buyers have decreased by 2.1%.
Over the June 2011 quarter, the average loan size to first-home buyers increased 2.5% to $283,900, though this is down 1% for the year.
 
 
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REIA lobbies for Canadian-style first-home buyer scheme

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The underlying fundamentals for Australia are strong. All that's needed is a lift in the general confidence level for our economy to really take off.
Therefore, the trick is not to be caught by surprise when it does!
Australia's "recession pundits" fail to realise this only happens when planned business investment falls dramatically. But currently, miners have around $430 billion already in the pipeline.
And the rest of the business community has around $470 billion in planned investment over the next 18 months.
Moreover, China's current 9.5% per annum growth in GDP is principally being driven by domestic demand, whereas its 12% per annum figure for 2007-08 contained 3% to 4% of exports to Western countries.
Our banks have reduced their dependence upon offshore funding by a third since 2008. And they have also raised (by 25%) their contribution from domestic deposits.
Clearly, the increased level of available cash savings held by households (now at $516 billion) and businesses ($166 billion) has been adversely affecting day-to-day spending. But don't allow your personal investment decisions to be constrained by short-term thinking.
Understand that these "savings" were accumulated on a weekly or monthly basis. But once people flick on the "confidence" switch, all those funds will then be spent as massive lump sums.
Fortunately for Australia, the end of every year comes with a summer break of about a month before everything gets back into full swing.
During this time-off period, people will have the chance to clear their heads of what has been a rather messy 2011.
Bottom Line: Provided Europe makes it through to Christmas with no further surprises, Australians will return from their holidays mentally refreshed and ready to move forward strongly in 2012.
Therefore, make sure you avoid being caught up in the clamour of the New Year — and try to secure some good commercial properties this side of Christmas.
Chris Lang is an advisor to commercial property investors and gives keynote speeches and regular seminars on the best way to invest in commercial property. He maintains a blog, <a target="_blank" title="Chris Lang's blog" href="https://his-best.biz/">his-best.biz</a>, which he updates regularly about the best way to get the most out of your commercial property investment.
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