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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The housing market is constantly in a tug-o-war between two factors – demand and supply. And really it doesn't get simpler than that. If there is a limited number of properties for sale and plenty of keen, cashed-up buyers then prices are almost certainly going to be bid up. Similarly if there is an abundance of property on the market and buyers are cautious – preferring to take time to find the 'right' home – then prices are more likely to ease.
Clearly there is no single "housing market"; rather there are countless markets, even down to street level. But if there is a common characteristic across markets at present it is that the supply of homes is up.
RP Data has data on almost every single property in Australia so it is best placed to describe what's going on. And its latest estimate is that there is 5.8 months of effective housing supply in Australian capital city markets at present. That takes into account the current sales rates as well as the number of homes on the market.
But that figure doesn't mean much without some reference point. RP Data advises that a year ago there was around 4.5 months of supply in capital city markets. Over the past four years, effective supply has ranged between 2.3 and 6.5 months, averaging 3.9 months. So it is clear that housing supply is currently relatively high.
But as always supply conditions vary across the country. RP Data notes that supply is lowest in Canberra while highest in Brisbane. However supply in actually lower than a year ago in one capital city – Perth.
So much for supply – how do you measure demand? In part it is determined by interest rates (cost of finance) but also includes labour market conditions, risk preference (desire to take on debt), rent levels and attractiveness of other asset classes. And then you have to incorporate other elements such as demand being brought forward into earlier periods – as occurred with the global financial crisis when rates were cut and incentives were provided to first home buyers.
It is clear that demand for housing has weakened over the last six to 12 months. The job market has clearly softened; Aussies have become more reluctant to take on debt, while returns on cash-based investments have held up in relation to other asset classes. While interest rates have just been cut, this is a more recent development and the key question is whether the reduction in rates has been enough to offset conservative risk preferences.
Overall it shouldn't be surprising that capital city home prices have fallen by 3.4% over the past year, especially following a period of above-normal demand and price growth in 2009 and early 2010. But with supply arguably peaking, job markets healthy and interest rates down, 2012 should be a year of home price recovery.
<h3>The week ahead</h3>
Unless the purported "mini budget" is released, the coming week will be a dull affair with little in terms of fresh economic information to provide guidance for investors. And it is a similar story in the US, although Americans are waiting for their politicians to come up with proposals to cut the budget deficit otherwise both sides of politics will have to be content with more unpalatable – and enforced – options.
In Australia, there is little in the way of market-moving events in the coming week. On Monday, Reserve Bank Assistant Governor (Financial) Guy Debelle delivers a speech to the Australian Securitisation Forum Conference. And on Wednesday he follows this up with another speech, this time to the APRA Basel III Implementation Workshop 2011. However given the topic matter, there may not be too many references to the current economic situation or implications for monetary policy.
On Wednesday the State Accounts for the last financial year will be released – effectively the report card for state and territory economies. And on the same day the Bureau of Statistics releases the Construction Work Done publication. This publication not only covers building and engineering work done over the September quarter, but it also contains estimates of work yet to be done and work in the pipeline – more forward-looking construction components.
The construction work done figures are used as an input into the GDP (economic growth) estimates for the September quarter. And if our estimates are close to the mark, construction should provide a solid boost to the economy in the quarter. We expect that construction work done rose by 5% in the September quarter after a more modest 0.7% expansion in the June quarter.
And on Thursday the Reserve Bank governor delivers his annual address to the Australian Business Economists' end-of-year function. This is effectively the business economists' Christmas party, but don't expect wild celebrations and exuberant forecasting. The main reason the economists are there is to hear the RBA Governor and, as is always the case, when the RBA Governor speaks Aussies listen carefully for clues on interest rates.
In the US, the week kicks off with data on existing home sales and the Chicago Fed index on Monday. While sales have followed a zig-zag course in recent months, suggesting a rise is in on the cards, economists actually tip a 1.5% fall in home sales. Broadly home sales are holding near a 5 million annual rate.
On Tuesday the updated (preliminary) estimate of economic growth for the September quarter is released and economists expect little variation from the 2.5% "flash" estimate. The Richmond Fed index is released the same day.
On Wednesday personal income/spending data is released alongside durable goods orders, consumer sentiment and weekly jobless claims. Income probably rose 0.3% in October with spending up 0.2% while analysts expect a flat reading for new orders of long-lasting or durable goods.
Also on Wednesday the "super-committee" is meant to come up with budget measures designed to save $1.2-1.5 trillion over the next decade. If they don't, automatic cuts will be imposed – measures that neither Democrats nor Republicans will be happy with. If the "super committee" is successful it will ensure that all Americans will be able to truly enjoy Thanksgiving Day on Thursday.
<h3>Share market</h3>
With about six weeks of 2011 left, it is an opportune time to assess how the Australian share market has performed this year. Currently the All Ordinaries is down 11% from the start of the year with the ASX 200 lower by 10.5%. Other major markets are also lower with the Japanese sharemarket lower by 16% with the German market down 14.5% and the UK sharemarket lower by 6.5%. Interestingly the US sharemarkets have out-performed with the Dow Jones up 3% and the S&amp;P 500 and Nasdaq largely unchanged.
Looking across the 22 Australian industry sectors, only three are currently up on the year. The best performer has been the defensive telecommunications sector (up 13%) followed by food, beverages and tobacco (up 9%) and utilities (up 2%).
At the other end of the scale, the consumer durables ande apparel sector has fallen by 39% in 2011, followed by diversified financials (down 28%), retailing (down 25%) and capital goods and software and services (both down around 20%).
<h3>Interest rates, currencies and commodities</h3>
The Australian dollar started the year just under US102 cents and it's currently only modestly lower. The European debt crisis may have raged over the second half of 2011, adding to risk aversion, but the Aussie has weathered the storm well. A broad measure of commodity prices – the CRB futures index – is down around 5% over 2011 but there have been commodity winners and losers. Gold has lifted 25% with crude oil up 7%. At the other end of the scale, base metal prices have fallen sharply with nickel down 28% with lead, zinc and copper down around 20%. Cotton has also lost 37% while wheat has fallen by 21%.
Craig James is chief economist at <a href="https://www.commsec.com.au/">CommSec</a>.
This article originally appeared on <a href="https://www.smartcompany.com.au/economy/20111121-the-big-picture-why-house-prices-should-recover-in-2012" target="_blank">SmartCompany</a>.
 
 
 
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Why house prices should recover in 2012: Craig James

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<div>
It was hoped by many investors that economic and investment fundamentals would settle down, stabilise, and provide an environment in which logical, sound, long-term, low-risk decisions could be made for future medium- to long-term investment.
Unfortunately, this has not been so, and economic turmoil persists typified by the American economic downturn, the European debt crisis and the consequent global share market volatility.
During this drawn-out and extended period of investment challenge, cash has been favoured, as is usually the scenario when other markets become less reliable.
This is particularly so in Australia, where the interest rates in global terms are relatively high, and the banks and capital guarantee institutions well governed and strong, in contrast to many alternatives overseas.
For this reason Australians have been saving more than ever and cash investment into Australia by overseas parties has also strengthened, one of the main causes for the Australian dollar maintaining above parity with the US for so many months. Amidst the turmoil and uncertainly, we have noticed at Charter Keck Cramer that beginning approximately eight months ago, there was a gradual turn to commercial property by shrewd investors, a trend that has now strengthened significantly.
So strong is this return in favour of property that our services to provide due diligence to prospective purchasers is in greater demand than in any period for many years, as I have noted in the forthcoming edition of The Asian Executive. Acting for both local and overseas investors, the focus is on the Australian east coast, Sydney and especially Melbourne.
</div>
<ol>
<li>Australia, especially the east coast, and particularly Melbourne, is assured of sustained long-term population growth.  This foreshadows excellent economic prospects, as strong population growth is the energy and primary growth factor of an expanding economy, and in a society such as Australia, creates strong demand for real estate in all classes.</li>
<li>Over the past four years as a result of the GFC, the Australian markets, which usually depend on “speculative” accommodation, built without commitment, have been inactive.  Consequently the vacancy rates in all property classes – not just residential but also retail, commercial and industrial – are very low, as a result of which rental values are likely to increase dramatically over the next six to seven years, enhancing yield returns and capital growth. 
</li>
<li>Melbourne is the fastest-growing city in Australia. 
</li>
<li>Australia has an outstanding geo-political location, in close proximity to the expanding economies of India and China. 
</li>
<li>The Australian population and economy are relatively small, nimble and quick to respond in a proactive fashion to global challenges. 
</li>
<li>Australia’s sovereign risk is extremely low to the point of being non-existent. 
</li>
<li>Australian politics is not polarised, but rather broadly balanced, and between both political parties, responsive to the private sector. 
</li>
<li>Australia has a high and enviable level of corporate governance, particularly within its banking industry.  The four major banks in Australia are well governed, have strong balance sheets, and remain supportive of the property sector. 
</li>
<li>In Melbourne and Sydney, Australia’s two leading capitals, the private sector is responsible for 93% of all building construction and development.  Accordingly, as population growth creates demand, the opportunities for the private sector are excellent. 
</li>
<li>The Australian property markets are well educated, mature and in general terms, managed by world-class executives operating at levels of best practice. 
</li>
<li>Australia’s long-term economic stability is well underwritten by its natural resources and export markets to the growing economies of India and China. 
</li>
<li>The Australian economy is generally well managed. 
</li>
<li>Over recent years there has been a dramatic increase in interest by Asian and European investors in Australian property, and this is likely to continue.  Asian investors are keen to shift money out of their own countries, and European investors grow more fearful of an EU economic slowdown.  By comparison, Australia offers low sovereign risk, a transparent market, ease of transaction, and strong growth prospects.</li>
</ol>
Scott Keck is executive chairman of <a href="https://www.charterkc.com.au/" target="_blank">Charter Keck Cramer</a>
 
 
 
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skeck-irsd56phZ9

Thirteen reasons why Melbourne is the best city in the world to invest in property: Scott Keck

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With auction clearance rates consistently tracking between 45% and 50% since April this year it begs the question, why take a property to auction when you have less than a 50% chance of selling via this process?
Click to enlarge
<a href="/images/stories/rpnov211.gif" rel="shadowbox" title="Click to enlarge"><img src="/images/stories/rpnov211thumb.gif"></a>
Melbourne, Australia’s largest auction market, has typically shown a slightly higher clearance rate than other cities, however even in Melbourne the clearance rate has remained below 55% for all but three weeks since the beginning of May and we haven’t recorded a clearance rate higher than 50% for seven weeks.  
Click to enlarge
<a href="/images/stories/rpnov212.gif" rel="shadowbox" title="Click to enlarge"><img src="/images/stories/rpnov212thumb.gif"></a>
Despite the fact that clearance rates remain weak, across the combined capital cities there were almost 1,900 capital city auctions undertaken last week (the highest number of auctions since the last week of May earlier this year).
Clearly the auction process under the current market conditions is no longer about the auction itself.  It’s more about the marketing process and subsequent post auction deliberations.  An auction inherently encourages a buyer to play their cards.  A registration to bid is essentially an expression of interest in the property.  The bidder has revealed in no uncertain terms they have an interest in purchasing the home – it’s much more difficult for a real estate agent to measure buyer commitment outside of the auction or tender process.
With clearance rates this low for this long, most vendors should appreciate when they embark on an auction campaign their chances of selling "under the hammer" are not high.  A good real estate agent should be preparing for the post-auction campaign from the absolute beginning of the auction process.  With private treaty sales typically taking close to two months to sell within the current market, obviously a fairly large number of vendors believe that a 50:50 chance of selling under the hammer is still worthwhile.  Even if the sale is unsuccessful at auction at least they obtain some gauge of buyer interest for their property and can work towards a sale post auction with a vetted pool of buyers.
Tim Lawless is research director of <a target="_blank" href="https://www.rpdata.com/">RP Data.</a>
 
 
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tlawless-5VLUrbAk9s

Auctions becoming a marketing tool: RP Data's Tim Lawless

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A boutique block in the Melbourne suburb of Toorak is expected to appeal to well-heeled empty-nesters. 
The Six Brookville Road development, which launched late last month and has had strong inquiries but no sales so far, will be a block of just six two- and three-bedroom apartments, ranging in price from $1,495,000 to $3.44 million. 
<img src="/images/stories/brookville2.jpg">
Neometro director Jeff Provan says the development’s location in <a href="/news">Toorak </a>and aesthetics will appeal to owner-occupiers from the surrounding posh eastern suburbs. 
He says he expects buyers to be “people fanning out from Armadale and Hawthorn who really want to live close to the city but don’t want to be in a such an urban environment. 
“You’re living in a fairly leafy, quiet residential area, but you’re on two tram routes to the area and you’re on a train line,” Provan says. 
The developer will focus on high-quality fixtures and fittings and soft colour palettes. 
<img src="/images/stories/brookville1.jpg">
“Adding texture and warmth is fundamental to creating  welcoming living spaces that are design-focused yet functional. We like to use a mixture of natural materials and finishes, such as textured wood combined with stone or polished concrete, to create a contemporary but comfortable space,” Provan says. 
The block will include one 226-square-metre three-bedroom apartment and five two-bedroom apartments ranging in size from 128 square metres to 200 square metres. All include at least one car park, and two of the apartments come with two car parks. 
<img src="/images/stories/brookville3.jpg">
Provan says landscaping is a major focus of the design. 
“It’s got a great garden aspect to it,” he says. “It’s an elegant contemporary building with nice clean lines, and it’s a really garden aesthetic to it. 
“The ground-floor units have garden. It’s not a hard, urban building, it has landscape all around it.” 
Construction is due to start at the end of the year and is expected to be finished at the end of 2012.
For advice on buying off the plan download our free e-book.
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Boutique Neometro Toorak development to appeal to well-heeled empty-nesters

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{yoogallery src=[images/stories/november10melton]}
Storm Financial founders Emmanuel and Julie Cassimatis are prepared to sell their Townsville abode for almost half their initial expectations.
It was passed in at weekend auction at $1.35 million, with Ferry Property auctioneer Garry Byrne having a $2 million reserve.
The <a target="_blank" href="https://www.propertyobserver.com.au/auctions/cassimatis-property-for-auction-three-years-after-storm-collapse/2011110952290">eight-bedroom house with views over Townsville towards Magnetic Island </a>was initially listed for $3.85 million in 2006.
The land was bought for $280,000 in 1997 and built 11 years ago.
It’s been empty for about 18 months, having been home to the couple until they left Townsville following Storm's collapse.
About 50 people attended the auction with four registered bidders, according to the Townville Bulletin.
The Melton Terrace house attracted just three bids – $1.2 million from a phone bidder, a $1.3 million vendor bid and the $1.35 million bid by a local buyer also via telephone.
The couple’s financial advisory company, Storm Financial Services, collapsed in 2008, unable to pay its debts, leaving hundreds of clients out of pocket.
ASIC has commenced civil penalty proceedings against Emmanuel and Julie Cassimatis as directors of Storm in relation to alleged contraventions of their duties as directors.
It is alleged they caused and permitted Storm to be exposed to legal liability arising from the implementation of a financial services business model that involved providing commoditised financial advice to investors that failed to take into account the personal circumstances of individual investors.
ASIC's investigations into the collapse of Storm continues. The proceedings are contested.
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jchancellor-FAypfDUnLy

Storm Financial founders' Townsville property passed in at auction with a half-price hit in the making

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Property commentator Mark Armstrong says that with up to 15% of auction results unreported, potential buyers are unable to get an accurate sense of the market.
"Our home is the biggest investment the vast majority of us will ever make yet our hands are tied when it comes to making informed decisions," Armstrong, of Property Tycoon, says. "Imagine if 30% of all share market transactions were undisclosed, there would be outrage."
He says the fact that many auction results are unknown is archaic and the system  must be changed.
"The Australian property market lives in the dark ages where a huge amount of results remain hidden from the public and finding out what a property previously sold for is near impossible."
The weekend auction of 24 Alfred Street, Prahran, was subdued, with the auctioneer coaxing bids from three reluctant bidders.
"After being announced on the market at $845,000 the property was finally sold for $852,500. This price was around $17,000 below the average tip," Armstrong says.
 
<img src="/images/stories/alfredst.jpg">
Sale price: $852,500
Agent quote: $780,000 - $850,000
% above agent quote: 0.29%
Bidders: Three
Last sold: May 2005 for $531,000
Growth since last sale:  7.5%
Median growth: 6.58%
Average tip: $869,747
% Correct tips: 37.76%
<a href="https://www.propertytycoon.com.au/" target="_blank">Property Tycoon</a> allows punters to guess auction results with no outlay.
 
 
 
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Weekend auction tipping result

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The concept of buyers’ agency is a relatively new one in Australia. The first of these agencies only surfaced here in the mid ’90s, and there are only about 100 in the whole country. 
As a result it’s not surprising that I am often asked the question “What is the difference between a buyers’ agent and a real estate agent; aren’t they the same thing?” 
Curiously the answer lies somewhere in between, but the simplest definition in layman’s terms is: 
<ul>
<li>A buyer’s agent is a licensed real estate agent who acts exclusively for the buyer in real estate transactions. His or her duty is to negotiate the best or lowest possible price for a property while acting in the best interest of the client. </li>
</ul>
<ul>
<li>Real estate agents (known as the listing or selling agents) act exclusively for the seller of a property. His or her duty is to negotiate the highest possible price for a property while acting in the best interest of the client.</li>
</ul>
It is important to note that real estate agents (selling agents) charge their own fees on the sale of a property to their clients, and buyers’ agents charge a separate fee for the successful purchase of a property. Each is bound by respective ethical and fiduciary industry regulations, and there is no conflict of interest.
Most buyers’ agents previously worked the “other side of the coin” as real estate agents, so clearly they know the tricks of the trade. In many cases they have also worked in specific suburbs and areas for many years. The relationship between the two is symbiotic (of mutual benefit) and results in a win-win outcome for all stakeholders involved in real estate transactions. 
Successful buyers’ agents have close working relationships with a large number of real estate agents whom they have known and dealt with personally over a long period of time. They are constantly in touch with them in the search process for their clients.
Do you remember your natural science classes and the bit about the bees and the flowers and how they help each other? In this case the different agents dance to a constant tango of communication involving “I’ve got a buyer to $1 million, what have you got for me?”, and “Just listed a beauty and it’s a perfect match for your buyer”.
At the end of the day the buyers’ agent, who has great connections in the industry and the real estate agent, who works closely with them are both going to benefit in favour of their respective clients.
I have to admit that I prefer to work with real estate agents I know personally. This is especially important when negotiations begin on a purchase because it cuts out a lot of bullshit and so called “killer tactics”. I’ve been there, done that, and just want the best possible deal for my client!
Tim Mansfield is founder and principal of Sydney-based buyers' agency <a href="https://www.primepropertybuyer.com/" target="_blank">Prime Property Buyer</a>.
 
 
 
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Selling agents and buyers' agents work together but have opposing goals

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While it is not currently part of the RBA’s game plan, there are some economists out there pushing hard for a December rate cut. They include independent operator Stephen Koukoulas (who puts a December cut at a near-certain 95% probability), UBS rates man Matthew Johnson, and Goldman Sachs's gun Tim Toohey.
Matthew, who has become especially dovish based on the view that Europe is heading for recession, was referenced in The Australian on the weekend arguing there is a chance of a 50-basis-point cut in December.
Perma-dove David Uren uses this as partial justification for the claim that "the Reserve Bank is under pressure to cut rates again before Christmas amid fears that Europe is dragging the global economy into a new recession".
I don't think Martin Place is under pressure to do anything at the moment. If it cuts in December, it will be because of a substantial deterioration in European conditions, or some other exogenous shock that is not currently on their radars (e.g., Israel launching military strikes against Iran). Accurate rates watcher Alan Mitchell pulled out his 12-gauge in the Weekend AFR and blew out of the sky some of this dovish sentiment:
"The RBA, on the other hand, has made it abundantly clear that another cut in the official cash rate in December is definitely not on its agenda. The minutes of the bank's November board meeting, made public on Tuesday, portray the November rate cut as a once-off adjustment. Additional cuts will follow in the near-term only if there is a change in the economic outlook."
He goes on to say that the government would have to make massive, permanent cuts in its  mini-budget of between $4 billion and $10 billion to justify the RBA considering a further reduction in its cash rate.
Will it or won’t it? While a December cut may not be the RBA’s current base case, it will not make up its mind until right before the meeting, and could even change that position on the day of the discussion. More generally, a few thoughts spring to this humble mind:
1. Any proposed cuts by the government must be contextualised against new pre-election spending and pork-barreling given the fragile coalition between the Greens and Labor, and the fact that this government may (will?) lose the next election. That is, any political commitments to austerity may need to be discounted somewhat;
2. The RBA has time on its side, and has invested significant political and reputational capital in the argument that this was a once-off adjustment in its cash rate to a neutral setting. By the end January it will have a raft of inflation, GDP and unemployment data with which to reassess its position. Just like in October, it would be potentially rash for the RBA to move policy before all this data is released save for a genuine European implosion that derails the global economy. There is greater policy elegance associated with cutting in February if the doves get the data they are pecking around for;
3. Whether the RBA goes in December or February (assuming it actually needs to) is not really going to change the price of eggs in China. One month here or one month there over the summer break is not going to make much of a difference to the Aussie economy in the scheme of things. There is certainly no domestically-driven urgency to cut rates in two weeks;
4. The extraordinary inversion in the yield curve, whereby the longer-term price of money keeps falling way below current interest rates, combined with another round of currency weakness, is already delivering de facto cuts, and possibly more than the RBA was banking on. The SFE’s 30-day interbank futures contract is currently pricing in a sub-3% RBA cash rate by the second half of next year. The three-year government bond rate is heading towards 3%. This means more falls in already below-average interest rates on fixed-rate home loans, and lower term deposit rates. That will in turn mean less consumer saving, and more spending and borrowing; and
5. Finally, in the unlikely event the RBA’s cash rate does go close to 3% (i.e., the same level it hit during the GFC), it is going to be party time again for the Aussie housing market. As in 2009-10, the market will bounce back strongly if folks start paying variable rates of 5.0% or less (cf. current rates of around 6.7%). That’s why housing is, contrary to popular myth, a good hedge against adversity.
Christopher Joye is a leading financial economist and a director of Rismark International and Yellow Brick Road Funds Management. The above article is not investment advice.
 
 
 
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Another interest rate cut - Will they or won't they in December?: Christopher Joye

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New South Wales mortgage repossession rates were steady in the October quarter.
There were 751 applications between August and October, compared with 745 for the same period in 2010.
But the monthly rate is up slightly on 2010. There has been an average of 246 applications to the NSW Supreme Court per month this year, up from 213 in 2010.
The numbers aren’t a patch on the post-GFC 2009 levels, which had 318 applications per month.
The peak year for possession writs was in 2006, with 447 writs per month in the wake of the low-doc (low document) price boom that swept Sydney's outer-west.
The 2010 tally was the lowest since 2003.
The numbers include applications that were sought but not necessarily proceeded with as court orders.
 
 
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Number of NSW mortgage repossessions holds steady at low levels

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Reader's Feast is coming back to Melbourne after the collapse of REDGroup caused the store to close the doors of its Bourke Street store in July this year.
Owner Mary Dalmau will reopen the store in a 900-square-metre lot in Georges on Collins, having signed a lease with Colliers.
Dalmau plans to open the doors to the new store early next month, just in time for Christmas.
Reader's Feast will take up the mezzanine floor and will stretch from Collins Street through to Little Collins Street.
Ben Tremellen, retail executive of Colliers International, negotiated the lease.
“The Georges building is one of the most iconic buildings along the famous Collins Street strip and to lease the final available space will now breathe new life into the historic building,” Tremellen says.
The REDGroup collapse earlier this year led to closure of 190 bookshops across Australia including Readers Feast.
But Dalmau and four other shareholders bought the bookstore themselves, with Dalmau as the major owner.
''I opened the store for other owners 20 years ago, created it and now, thank God, we are the owners as well, which is fantastic,'' she told The Age.
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