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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3/77 Hollingworth Street, Port Macquarie, NSW, 2444
<img src="/images/stories/hollingworth.jpg">
This tenanted two-bedroom unit comes with a car space and is within easy walking distance of Port Macquarie town centre.<a href="https://www.prdnationwide.com.au/site/page.cfm?s=propertydetails&amp;PAGESIZE=10&amp;RADIOMARKET=Buy&amp;SUBURB=FLYNNS%20BEACH%20-%20NSW%20&amp;SHOWAUCTIONLISTED=1&amp;PROPERTYTYPE=Unit&amp;INCLUDESURROUNDING=1&amp;SORTBY=location&amp;id=32451&amp;type=Residential&amp;pagenum=3" target="_blank"> PRD Nationwide</a> agent Wayne Prince is marketing the property with price hopes of $230,000 plus, and it is tenanted at $280 per week. It was passed in on a vendor's bid of $230,000 at its auction on Saturday, November 19. If it were to sell for $230,000 that would be a gross rental yield of 6.3%, much higher than the indicative gross rental yield for Port Macquarie units of 5%, according to RP Data. The gross rental yield does not consider the costs of maintaining the property, including council rates and other fees such as water bills and managing agent fees. The property includes a lock-up garage. <a href="https://calc.washingtonbrown.com.au/wbdcalculator/calculator.aspx?RID=HPCAZOPTTT" target="_blank">Washington Brown</a> estimates the first-year tax depreciation deduction to be $7,000 and over five years to be $19,000. 
For more about prices and yields in Port Macquarie, see the <a href="/news">RP Data suburb page</a>. 
For more investment prospects going to auction this weekend, see pages 2 and 3. 
 
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15 Tamala Avenue, Notting Hill, VIC, 3168
<img src="/images/stories/tamala.jpg">
This three-bedroom house is leased at $350 per week until March 2012, so it could be a good prospect for investors. Kyla Davis from <a href="https://www.rogerdavis.com.au/view.php?OID=3218441&amp;Con=S" target="_blank">Roger Davis Real Estate</a> was marketing it pre-auction with price hopes of $450,000 plus. It was passed in at auction at $466,000 on Saturday, November 19. If it had sold for $466,000 that would have equated to a gross rental yield of 3.9%, higher than the indicative gross rental yield for Notting Hill houses of 3.3%, according to RP Data. The gross rental yield does not consider the costs of maintaining the property, including council rates and other fees such as water bills and managing agent fees. The property is a short distance from Brandon Park Shopping Centre and is close to transport. <a href="https://calc.washingtonbrown.com.au/wbdcalculator/calculator.aspx?RID=HPCAZOPTTT" target="_blank">Washington Brown</a> estimates the first-year tax depreciation deduction to be $4,000 and over five years to be $10,000. 
For more information on yields and prices in Notting Hill, see the<a href="/news"> RP Data suburb page</a>.
 
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147 Fox Street, St Albans, VIC, 3021
<img src="/images/stories/foxst.jpg"> 
<a href="https://www.barryplant.com.au/" target="_blank">Barry Plant</a> agent Flo Carreon is marketing this tenanted three-bedroom house with price hopes of $350,000 plus. It is currently rented at $1,084 per month and was passed in at auction on a vendor bid of $360,000 on Saturday, November 19. Had it sold for $360,000 that would have equated to a gross rental yield of 2.8%, below the indicative gross rental yield for St Albans houses of 4%, according to RP Data. The gross rental yield does not consider the costs of maintaining the property, including council rates and other fees such as water bills and managing agent fees. The property is within easy walking distance of Keilor Plains station, St Albans North Primary School and Keilor Downs Shopping Centre. <a href="https://calc.washingtonbrown.com.au/wbdcalculator/calculator.aspx?RID=HPCAZOPTTT" target="_blank">Washington Brown</a> estimates the first-year tax depreciation deduction to be $3,000 and over five years to be $5,000. 
For more information about prices and yields in St Albans, see the<a target="_blank" href="/news"> RP Data suburb page</a>. 
 
 
 
 
 
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Weekend Yield Watch: Yields of up to 6.3% in Port Macquarie

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Home ownership levels have continued to rise over the past two decades and may be at record levels, the industry has tipped after the Australian Bureau of Statistics released new data showing the percentage of income put towards a home loan has stayed steady since 1994.

The figures show that although house prices have actually increased by more than 114%, the average household with a mortgage is still paying 42% of their income, roughly in line with the same figures from 1994.
Moreover, the figures show 36% of Australians had mortgages in 2009-10, up from 30% in 1994. APM economist Andrew Wilson says it is likely that since then, the percentage has continued to rise.
"Home owner occupancy levels have continued to hold up, and I'd suggest those numbers would rise once we get census data because of the great surge we had in first home buyers."
The data does indeed show of the 1.07 million households that purchased their home in the three years to 2009-10, 40% were first home buyers. Most first home buyers had a reference person aged under 35, while less than 10% had a reference person aged 45 years or over.
"I'd actually expect us to see record levels of home ownership when that data comes through. Of course, we're suffering from having much lower levels of first home owner stimulus, but I expect that data to still be high," Wilson says.
And although the data shows housing costs have remained in proportion to income, there are some caveats. Between the two surveys, private renters have seen a 45% increase in weekly housing costs after inflation. For public renters, the proportion of income needed for housing has risen from 17% to 19%.
The figures also show that the number of Australians who own a house with no mortgage has fallen to 33% from 42%, while 24% of Australians are now renting, compared with 18% in 1994.
"The decline in outright home ownership may, in part, reflect increasing uptake of flexible low-cost financing options which allow households to extend their existing home mortgages for purposes other than the original home purchase," the report states.
However, the figures also show a clear gap between professional singles, young couples without children and dual income families, and then families with single parents.
Younger persons in a couple were more likely to buy than younger singles. But for couples with dependent children, the eldest under five years, 64% owned their home, although this rose to 75% with the eldest aged between five and 14.
But one parent households with dependent children were more likely to rent, 58%, than to own their own home, only 40%. "And they were the life cycle group most likely to be renting through a state or territory housing authority (13%)."
The figures also show a clear trend towards larger homes, with the number of people per house also growing as well.
Households that owned their home with a mortgage had one or more rooms to spare, at 89%, with 68% of couples living with children having at least one spare bedroom.
"On average, dwellings for couples with dependent and non-dependent children contained the highest number of bedrooms (3.9) and housed an average of 4.7 people."
Experts say this could indicate why construction has not increased and there is a deficiency in dwellings, as more homeowners are using their spare rooms instead of those people moving out into other dwellings.
This article originally appeared on <a href="https://www.smartcompany.com.au/property/20111117-home-ownership-still-affordable-on-the-rise-abs-figures-show" target="_blank">SmartCompany</a>.
 
 
 
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Home ownership still affordable and on the rise: ABS

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Financial market failures were a major cause of the world’s economic crisis, but housing markets played a leading part, according to research by OECD research.
From the subprime debacle in the US to the bursting of unprecedented real estate bubbles in Ireland, Spain and Greece, among others, the overheating and collapse of property markets not only hurt savings and investments, but was felt throughout entire economies, affecting construction, employment, lending and spending, a report in the OECD Observer magazine notes.
“Generally speaking, real house prices had started to peak in the vast majority of OECD countries prior to the financial crisis,” say researchers Linda Rousová and Paul van den Noord in Predicting Peaks and Troughs in Real House Prices.
“But a striking development has been the rebound in real house prices in some (but not all) OECD countries since then.
“In Canada and Australia, for instance, as well as in Belgium, Finland, France, Norway, Sweden and Switzerland, prices have firmed up, in part thanks to substantial easing of monetary policies (with record low interest rates).”
The article notes prices had risen dramatically within some prime city markets such as Paris and London as investors fled less attractive property markets, and as stock markets became more volatile.
However the situation was far from positive elsewhere.
“Outside London, the UK market has barely seen any recovery at all, while in Denmark, Korea and New Zealand, property prices remain modest at best.
“The slide in real house prices continues unabated in Greece, Ireland, Italy, the Netherlands, Spain and the United States.
“Germany and Japan are the outliers, as they are still working off their housing bubbles from the early 1990s,” the article says.
“However, there are signs of bottoming out in Germany, while in Japan real house prices may finally trough in 2011 or 2012.”
The commentary suggests spotting such turning points in property markets is important to policymakers.
“OECD economists use what are called probit models, which compute the probability of peaks and troughs.
“The predictions are based on developments in basic indicators such as interest rates, the supply of new housing and the business cycle, not to mention the pace of house price changes observed in recent quarters.
It notes these probit exercises sketch a rather bleak near-term future for real house prices generally.
“For the countries where real house prices have seen an upswing, peaks are predicted to occur before the end of 2012,” the article says.
“This does not necessarily point to a ‘bubble’ in these countries, but it does spell a likely turning point.”
It concludes property markets in most of the countries where house prices have been falling –Denmark, Italy, Korea, the Netherlands, New Zealand and the UK – will remain volatile.
“However, the US, Greece, Ireland and Spain could see troughs in 2011 or 2012, though for the latter three this assumes a resolution is found to the current sovereign debt crisis, resulting in a narrowing of interest rate spreads with Germany.”
<img src="/images/stories/oecd.gif">
It notes among the 20 countries for which the OECD maintains a quarterly database for real house prices it is possible to distinguish four groups of countries in terms of their response to the financial crisis.
Australia was in the first with a relatively sharp rebound, in the range of 5% to 15%, being observed in eight countries (Australia, Belgium, Canada, Finland, France, Norway, Sweden and Switzerland).
“In three cases (Australia, Canada, Sweden), however, the rebound seems to have run out of steam, possibly in response to monetary policy tightening.”
The second, weaker and already faltering rebounds were observed in four countries (Denmark, Korea, New Zealand and the United Kingdom). In all these cases, the rebound in real house prices seems to have been akin to a “false start” in response to monetary policy easing, possibly masking a continued underlying downturn.
Third, an outright slide in real house prices is observed in six countries (Greece, Ireland, Italy, Netherlands, Spain and the United States). Among these, the by far sharpest downturns are observed in Greece, Ireland, Spain and the United States, with more moderate downturns in Italy and the Netherlands.
The fourth group showing long-term declines in real house prices were Germany and Japan when the financial crisis hit, as these were still working off their housing bubbles of the early 1990s. In the case of Germany real house prices seem to be gradually picking up since 2008.
The caveat is that, as with any market, making predictions about house prices was always surrounded by uncertainty.
“Even so, it seems likely that most countries now showing upswings in real house prices will see their housing cycle turn downwards in 2012, while declining property markets in most countries that are currently experiencing downturns are not expected to bottom out.”
 
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jchancellor-FAypfDUnLy

Property market played a leading role in global financial crisis: OECD

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Only a third of 1,100 enclosed regional shopping malls in the US are currently viable, according to The International Council of Shopping Centres.
Developers in the US have been moving away from the enclosed-mall format in favour of big-box centres anchored by free-standing giants such as WalMart.
A shift in online spending as well as large big box retailers like Costco entering the market may see Australia follow suit, says Lisa Scharoun, assistant professor of graphic design at UC.
“The recent bankruptcies of the Colorado Group and the RED group may signal a potential downturn in the viability of the enclosed shopping mall environment in Australia.”
Scharoun says big-box centres have replaced enclosed shopping malls in many areas across the US and pose a threat to public space in urban and social areas with their lack of seating, community spaces and food courts.
“The shopping mall – it’s an essential part of American culture – the quintessential US shopping experience. And Australia isn’t far behind. More and more of us are ditching local stores for the convenience of the one-stop shop.”
“In the newly created American suburbs of the early 1950s, a problem emerged about how to make shopping more convenient when cars were the dominant form of transport.”
“Designer Victor Gruen envisioned a fully enclosed shopping centre that would be ‘the nucleus of a utopian experiment’,” she wrote on <a href="https://theconversation.edu.au/dawn-of-the-dead-mall-will-we-follow-the-us-and-dump-the-shopping-centre-3507?utm_source=The+Conversation+Daily+updates&amp;utm_campaign=a97078fa21-DailyNewsletter&amp;utm_medium=email">The Conversation website.</a>
“He wanted to create a space that would be something more than simply a place to buy essentials.”
“His goal was to design an enclosed interior pedestrian city surrounded by ample parking that would encourage the consumer to linger longer, thus extending the possibilities of socialisation and community.”
“The first fully enclosed mall, Southdale Mall in Edina Minnesota, opened in 1952. Free from the perils of car traffic, Gruen’s dream of an internal pedestrian city was realised,” Scharoun writes
“Gruen’s design called for expansive, windowless cement exteriors, punctuated by ‘big blocks of color and inviting entrance arcades’. The mute exterior of the mall offered nothing to the sidewalks and parking areas and created a distinct divide between the private shop and the cityscape.”
“Instead, the entire streetscape was brought indoors, into the more easily managed interior mall space.”
“The Southdale shopping mall design was so successful that it became the standard for retail construction in America for over 50 years.”
“The impact of the mass reproduction of this centrally controlled, privatised marketplace has been vast," she says.
“The success of Southdale was a catalyst for retail change. Hundreds of shopping malls copied its model across the country. It contributed to the decline of Main Street America and many inner cities across the country.”
“The enclosed shopping mall has proved to re-define the concept of a ‘town centre’ by stripping away the sense of authentic community and freedom that existed in the traditional town centres of rural and urban areas across America.”
“Despite the negative connotations associated with the shopping mall, however, it has been referred to as a “temple of consumerism” and is discussed as offering a replacement for traditional temples of worship in an increasingly secular population.”
“Although the privatised and controlled nature of a shopping mall has led to the homogenisation of public space, the mall has engendered a sense of community amongst specific demographic groups, such as adolescents and the elderly, who use the space as a primary site for identity creation, companionship and social interaction.”
“The enclosed shopping mall has also become a symbol of American culture, and is frequently used as a backdrop for films and popular media depicting the American condition. And the model has been replicated in suburban and urban environments throughout the world.”
“Australia adapted this model very early on, building the first suburban shopping centre, Chermside, in Brisbane in 1957.”
“Myers completed the design for the Chadstone shopping centre in the suburbs of Melbourne around the same period, and so the die was cast: suburban enclosed shopping malls started popping up across the country.”
“According to the Shopping Centre Council of Australia, currently there are 1,338 shopping centres in this country.”
“And, it says, ‘some of the larger centres attract well over 15 million shopper visits per year. Across Australia, there are 1.75 billion shopper visits each year. That means, on average, each Australian visits a shopping centre twice a week’.”
“Shopping trends in Australia are often directly tied to the United States. Research by Morgan Stanley relays that Australia lags behind the US by about five years in their adoption of shopping trends.”
 
 
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awalsh-7Ub9EypybQ

Online retailing and big-box centres killing shopping centres: Academic

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One of Manly’s historic retail properties, the 1918 Manly Emporium, has been sold by Raine &amp; Horne Commercial Northern Beaches for $9 million plus.
It’s been purchased by the International College of Management Sydney (ICMS).
The deal included the rear-adjoining property 50 East Esplanade.
According to selling agent Vincent West, the sales manager at Raine &amp; Horne Commercial Northern Beaches, the sale had been long sought by the college.
The college recently made an offer that was accepted by the trustee Wadian Nominee, which has looked after the property for many years.
It builds on their current St Patrick’s Estate hospitality operations, where they have been located since 1995.
The International College of Management, Sydney offer business degrees in sports management, hospitality, event management, property management, international tourism and business management.
"It represents one of Manly’s most important commercial sites, with its sought-after position fronting the southern side of the famous Corso, where daily foot traffic in the thousands strolls between Manly Wharf and Manly Beach,” says West.
“Some older Manly residents may also know the site as the location of the iconic Manly Pool Halls, which previously occupied the upper levels of the building,” he adds.
The two properties are home to ground floor retail premises occupied by major tenant Harrison’s Pharmacy, as well as a souvenir store.
 
 
 
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Manly emporium sells to International College of Management Sydney

chrisjoye-JYhJsTrNRC

Economists and traders fighting a false forecasting war: Christopher Joye

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The Exo development in the burgeoning Melbourne suburb of Docklands is almost two-thirds sold after launching at the end of July.
Developer Lend Lease has sold 60 of the 96 apartments off the plan so far, with the development officially launching July 31. The building was<a target="_blank" href="https://www.propertyobserver.com.au/victoria/docklands-development-half-sold-in-two-weeks-on-market/2011082251238"> half sold in the first three weeks of its marketing</a>. 
<img src="/images/stories/exo2.jpg">
The building will comprise 32 one-bedroom apartments of about 55 square metres, which start at $395,000. It will have 64 two-bedroom apartments, which range from 79 square metres to 93 square metres and start at $665,000.
Exo is part of Lend Lease's $4.5 billion Victoria Harbour, the epicentre of Docklands. Already completed in the precinct are Dock 5, a 30-storey tower comprising 148 apartments; The Mosaic, a mid-rise, nine-storey residential development; and The Montage, sister development to The Mosaic with a rooftop garden.
Construction has begun on Exo and is due to be completed in mid-2013.
<img src="/images/stories/exofacade.jpg">
Exo will be have a distinctive perforated white façade, with its irregular holes designed to bring to mind river rocks or forest paths. It was designed by Lend Lease Design’s architectural team.
“Exo is the latest in a line of commercial and residential projects adding panache to Melbourne’s Victoria Harbour precinct – a unique fusion of city and water,” says Lend Lease Victoria Harbour project director Claire Johnston.
The development will back onto <street><address>Collins Street</address></street>, and although its address is technically <street><address>Merchant Street</address></street>, Lend Lease aims for it to be “characteristically <street><address>Collins Street</address></street>”.
<img src="/images/stories/exo3.jpg">
“The design demonstrates an innate understanding of the need for sanctuary from the hustle and bustle of urban life, with each apartment purposely designed to maximise space and minimise noise, allowing residents to reside in the heart of the city without having to compromise on their quality of living,” says Johnston.
The 10-year-old Docklands precinct has been something of an urban experiment, with the new suburb home to 15,000 residents and a growing number of businesses. Companies like Myer, NAB and ANZ are headquartered in Docklands on the eastern fringe of Melbourne CBD, and they bring thousands of young professionals to the area every day. The ANZ building alone is full of 6,000 office workers on a busy workday.
For more on the past, present and future of Docklands, download our free e-book. 
 
 
 
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Docklands development Exo almost two-thirds sold

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Property development group Mirvac has been has awarded preferred tenderer status for the transformation of the Western Australian mining town Karratha, in the Pilbara, into a city of 50,000 residents.
The $1.5 billion project involves the development of 1.5 hectares in the town’s centre, plus a 168-hectare, 1500-lot residential estate that will link Karratha to the coast. There are currently fewer than 15,000 people in Karratha district.
<img src="/images/stories/karratha3.jpg">
The government will put about $130 million of Royalties for Regions cash into building new roads and infrastructure.
The first stage – expected to be completed in mid-2014 – will include a 150-room hotel, 10,000 square metres of commercial space, 50 service worker apartments and new public space.
The residential development, a new coastal suburb to be named Mulataga, will commence construction in early 2013, with the first land released early in 2014.
While it was easier to build a donga temporary camp than to build a community, WA Regional Development Minister Brendon Grylls says the government’s aim is to create genuine regional communities alongside the state’s huge resource developments
Premier Colin Barnett says the government wants to see fly-in, fly-out work practices fall over time and developments like this would help encourage people employed in the resources industry to choose to live where they worked.
The annual general meeting was told the predicted underlying demand for new dwellings in Karratha by 2016 was between 2,000 and 3,000 dwellings.
In order to meet this demand, Mirvac expect rabout 600 to 800 new dwellings will need to be provided over each of the next four years.
 
 
 
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Mirvac hopes to transform fly-in, fly-out Karratha, in the Pilbara, into a city

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A three-level Darlinghurst building that suited retail, office, restaurant, artistic or residential uses has been sold for $4.39 million.
The 900-square-metre Crown Street property with historic façade was sold with vacant possession having been most recently tenanted and renovated by contemporary office design company Zenith Interiors.
<a href="https://www.propertyobserver.com.au/commercial/philip-mason-to-discard-his-darlo-property-plaything/2011091551550" target="_blank">It was Australian Playboy’s headquarters from 1982 to around 1990</a> given the owner and vendor is Philip Mason, who was the publisher of Australian Playboy for 16 years, and his wife, Alexandra Joel. Both attended the auction.
It sold through Cushman &amp; Wakefield agents Tony Anderson and Lindsay Sturrock.
Set between Liverpool and Stanley streets, it attracted strong interest from owner-occupiers, residential converters and investors, seemingly selling to a syndicate headed by Oscar Done.
It last traded for $375,000 in 1981.
Cushman &amp; Wakefield has earlier success last year when the 500-square-metre Luxe Studios property around the corner, at 279-283 Liverpool Street, for $4.93 million.
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Philip Mason discards his Darlo property in a Done deal

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Consumers appear far more willing at present to buy a new house than a new car following the Reserve Bank cutting interest rates on November 2, according to the latest Westpac Red Book. 
Westpac’s “time to buy a dwelling” sub-index rose 6.5% to 125.8 to be in “strongly positive territory” and above the long-run average of 122.3 and the 10-year average of 110.4. 
In comparison “time to buy a vehicle” fell 3% in November to be unchanged since August and slightly below its long-term average.
<img src="/images/stories/redbooknov171.gif">
Source: Westpac
According to Red Book editor and Westpac senior economist Matthew Hassan, the strong rise in the time to buy a dwelling index “could be the cue for a housing upturn”.
“However, as with the headline sentiment results, there are some important caveats,” he says.
“Firstly, the rally needs to be sustained. As with headline sentiment, that will depend at least partly on how follow-on moves from the RBA stack up against consumers’ expectations.
“The last three rate cut cycles saw total cuts of 425 basis points, 200 basis points and 250 basis points. Westpac expects the current cycle to see a total of 100 basis points with a steady tempo rather than rapid easing.
“Secondly, job loss fears will need to ease further. A simple model of finance approvals based on the ‘time to buy a dwelling’ index and unemployment expectations suggests the current mix will see soft demand well into 2012.
“We suspect more rate cuts and improvements in both buyer perceptions and/or job security will be required to establish a housing upturn. Even then debt/risk aversion may mute the response”
According to the Red Book, the drop in the ‘time to buy a vehicle’ index, while not too dramatic (the index points to a 2% decline in sales over the next 6mths), is curious “given the backdrop of rate cuts, attractive financing offers from many carmakers and continued falls in vehicle prices (–2.8% in the year to June)”. 
An aversion to new car purchases was particularly strong in Victoria where consumers registered a sharp 11% drop. 
“The state series are very volatile but it seems notable that Victoria consumers have seen less of an improvement in unemployment expectations in recent months compared to their peers,” says Hassan.
Overall, the November Red Book finds that the change in interest rates has delivered “some genuine positives” with a sharp turnaround in consumers’ unemployment expectations noteworthy. 
Lingering anxiety about jobs remains “but there is no longer the sort of escalating fear that in the past has marked the start of significant cut -backs in discretionary spending”. “As such, one of the key downside risks to the near term outlook for consumer demand has improved considerably,” says Hassan.
“The latest retail data has also held up better than expected. We remain very sceptical about the solid growth in total spending shown in the second quarter national accounts, but a milder consumer slowdown than previously envisaged now looks likely.”
<img src="/images/stories/redbooknov17.gif">
Source: Roy Morgan Research
In the shorter term an estimated 625,000 Australians intend to buy a new car in the next 12 months (excluding fleet, government and rental nuyers). Although this is down marginally on the August 2011 figure of 640,000, it remains 14,000 above the short-term average2 of 611,000.
Norman Morris, industry communications director of Roy Morgan Research, says: “Since hitting a record high of more than 2.2 million in March this year, long-term new car buying intentions have declined for the past five months. It’s not surprising to see that consumer confidence has also declined over this same period and therefore great news for the Automotive Industry to see both metrics back up again in September. 
“Of the mainstream brands, Honda has improved the most over the short term, with the Accord Euro driving much of the brands recent gains. 
“Amongst the luxury brands, both Mercedes-Benz and BMW have improved over the recent term, with BMW posting their highest result for 2011. Conversely, after hitting their best result in August this year Audi has declined to 1.5% of total intentions. 
“With many of the luxury marquees having new models destined for our showrooms over the next 12 months (including the Audi Q3 and BMW’s all new 3-Series) it will be very interesting to see if any of the luxury brands can take market dominance away from BMW over the coming 12 to 18 months. 
“The complete Roy Morgan Automotive Leading Indicators Report delivers detailed coverage of the health of the Australian automotive market.”
 
 
 
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