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 Queensland economy has been slow to recover from all its natural disasters. But its industrial property sector has been quick out of the blocks.
The boom in Queensland gas now has Brisbane with the lowest vacancy rate for industrial property.
Next comes Melbourne — with Sydney well back in third place, according to a recent survey by Knight Frank.
And increasing demand will put further upwards pressure on rentals, thereby encouraging more developers into the market.
While the Brisbane market is gas-driven, Melbourne (which is Australia's largest industrial market) enjoys a much wider tenant profile.
As such, its increase in speculative A-grade buildings has been readily absorbed over the past 12 months.
Sydney, however, his languished somewhat — with a cautious market showing an even split in the take-up, between A- and B-grade facilities.
Bottom Line: Industrial property is poised for some good rental and capital growth over the next few years, as yields start to firm.
Chris Lang is an advisor to commercial property investors and gives keynote speeches and regular seminars on the best way to invest in commercial property. He maintains a blog, <a href="https://his-best.biz/" title="Chris Lang's blog" target="_blank">his-best.biz</a>, which he updates regularly about the best way to get the most out of your commercial property investment.
 
 
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chrislang-EQKojcgJPV

Outlook good for industrial property

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Remember this picture? It might look like a museum image of pre-historic man, but it’s a rock located in the Cydonia region of <a href="https://www.solarviews.com/eng/mars.htm">Mars.</a>
<img src="/images/stories/face.jpg">
JPL scientists made the discovery of the “Face on Mars” in July of 1976 while searching for a suitable landing site for Viking 2 Lander. Wanting to give the public a familiar looking feature, they released this image to the tremendous delight of daily tabloids that ran with headlines suggesting ancient intelligent life had been found on Mars.  Of course it all ran amok a few years later when on closer inspection the imagined eyes, nose, and lips turned out to be nothing more than peaks and ridges. The search for extra-terrestrial life continues. 
It’s an example of what can happen when you look too closely at a composition and consequently miss the underlying truth. This year I’ve spoken with many anxiety-ridden investors wanting to know why the clearance rates are dropping and if their property is about to become a victim of the market snapping under the strain. Most based their concerns on reports in the media ranging from Harry Dent’s guest spots on Sunrise to sensationalist headlines run in major newspapers that suggested houses were losing thousands daily (<a href="https://bit.ly/ttQ3h3" target="_blank">for example</a>). 
The questions don’t surprise me – newspapers have to sell, and property editors need to find a new angle to explore each week. Therefore out comes the microscope and a blown-up picture is used as conclusive evidence for a brand-new theory of property evolution – one which shows property is on a long-term downward curve, usually based on short-term data and speculation (despite the weight of evidence countering otherwise).
However, no one is suggesting the view is always sunny.  Seasoned investors who have experienced and prospered through property cycles, lived through similar predictions of dramatic crashes in the 1970s, ‘80s and early 2000s, and they know how to keep the picture in perspective.  However we’re not out the doldrums yet.  Many expected the 0.25% interest rate drop to produce a change in sentiment; however a drop in rates indicates the RBA is cautioning us about the continuing fragile state of our economy, and therefore it’s no surprise cautionary sentiment still rules. 
Investors aren’t like home buyers – they can step in and out of the market as their “gut feeling” dictates. However, the mistake many make is waiting for the microscope to show a positive outlook before choosing to climb on board.   Once they can see their desired asset class rising in value, they’re happy to take the initial step. However we’ve all witnessed the unsustainable booms which suddenly escalate once they start to gain momentum. Why wait for another to occur?  It’s not wise buying – which is essentially where investors make their dollars. 
It may be a buyer’s market – it’s certainly being spruiked as such – however it’s only a buyer’s market if buyers are prepared to stop being spectators and take advantage of current flat conditions.  The fact that many are still sitting on the sidelines can only indicate there’s speculation prices may fall further.
However it’s not the likely reality - there are two parties in the purchase of real estate, and while some buyers may be willing to sit back and wait for more price falls, there’s no indication vendors are prepared to drop their expectation any further. Many aren’t in a position where they need to – hence why many homes linger on the market or get withdrawn to wait for better times ahead. 
Caution is a valuable emotion; however it can be better employed at the buying side of the equation if it’s used to build strong buffers to weather against market movements – history bears witness they’ll be more to come.   Protective measures include not over leveraging, investing within your means and understanding “long term” means more than a couple of years.
The property market in Australia isn’t immune from bubbles – invest in the wrong type of home or at the wrong time, and you could well find yourself sitting on top of one – I’m thinking in particular of mining towns, new estates, and the high-rise culture dominating inner-city CBDs.
However if you don’t see the bigger picture it’s too easy to make sweeping statements and lump everything under one umbrella. It’s a dangerous concept to promote because however strongly <country-region><place>Australia</place></country-region> has faired over the GFC the memories remain and people are susceptible to media suggestion.  What’s more, we can see GFC aftershocks continuing to affect Europe, and there are also those who suggest China will fall at some point and therefore we shouldn’t assume our strong economic position is set in stone. So investors have a right to be understandably concerned where they place their income, and confidence plays an important role in the choices they make. 
However like it or not, the well-worn argument that population growth underpins the market is based on fact, not speculation – and providing you invest where the expanding population wants to reside, you can be pretty sure you’re holding onto an asset that will grow over the long term.
Furthermore, out of all our states, Victoria is set to take the lion’s share of this population growth – everyone’s read the reports of how Melbourne’s on track to outgrow Sydney.  <city><place>Melbourne</place></city> has one of the strongest economies in the developed world.  Four of Australia’s top five most profitable public companies are headquartered in Melbourne, and the demand for Melbourne’s lifestyle and lack of inner- and middle-ring suburban dwellings to absorb the need is clearly evident in all the long-term graphs you can source.
In particular, if you choose to invest in areas that follow the train lines and if possible, also the bay, it’s hard to envisage supply ever fulfilling demand.  Town planners would do better investigating the price of extending existing train services into new outer-metropolitan areas to ease inner-suburban inflation rather than forever building in far-off lands that have little more than a daily bus service and do little to attract future growth. 
Melbourne’s real estate, for example, has historically never gone down over a 10-year period, so any arguments put on the table to suggest it’s about to happen and “the bubble burst” need to be backed up with more than a blown-up microscopic view similar to our man on Mars – I’d rather base my theories on historical data while keeping a cautionary eye on future events than run for the hills in panic of what are merely predictions of extreme market falls.   Short of a natural disaster of magnificent proportions, or a new law restricting the amount of children each family is allowed to have, the long-term cyclical upward trend in our markets is not likely to change any time soon. 
The demand for houses – particularly close to the city – is vastly beyond the supply most of our capitals are currently able to offer.  And while variables in the economy (such as interest rate rises) have an effect on certain areas of the market – for example the first-home buyer sector - the need for well-located accommodation will be largely resilient against economic factors – over the long term.
To speculate on future trends is unwise considering the problems facing Europe, however providing our economy continues to perform well and unemployment doesn’t rise disproportionably (of which there’s no indication) – and taking into account the RBA has also left the door open for a further drop in rates over the coming months – historical data (which is the best thing we can base speculation on) tells us that at some point house prices must start to rise again. It’s not a green light that we’re heading into a boom; it’s the looming reality of living in country that has a shortage of quality real estate in the areas in which people want and need to live. 
We have no control what so ever over the short-term influences that affect our market cycle, however short-term forecasts only affect those who buy today and sell tomorrow – and whether it be stocks or real estate, such high-risk investment is always a volatile option.
So don’t be fooled – you can spend your life looking through microscopes, reading long market reports and predictions based on speculation, but if you choose to look at the bigger picture and withdraw yourself from the heard, you stand a much better chance of making the right choices for your life, rather than worrying about everyone else’s. 
Catherine Cashmore is senior buyer advocate for <a href="https://www.elitebuyeradvocates.com.au/" target="_blank">Elite Buyer Advocates</a>. With extensive experience in all matters regarding real estate, Elite Buyer Advocates purchases and negotiates more than $100 million worth of property each year for its clients. 
 
 
 
 
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catherinecashmore-6LXia3pPQj

Looking through a microscope leads to property myopia

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The rules surrounding what self-managed super funds can do using borrowed funds for are strict. There are limits and the Tax Office, as the regulator of these funds, takes a tough approach.
The reason this issue has come to attention is the recent release by the ATO of a major draft ruling on the circumstances where money borrowed by a self-managed super fund can be applied in maintaining or repairing a single acquirable asset, for example, a property.
With the rapid growth in SMSFs, this ruling when finalised has the potential to affect many people and the way in which they invest their superannuation. Presumably, some might suggest the in-the-doldrums property market could benefit from this ruling. Time will tell!
The draft is quite technical and explains the Tax Commissioner's views on what are known as the limited recourse borrowing arrangement (LRBA) provisions in sections 67A and 67B of the Superannuation Industry (Supervision) Act 1993 (SIS Act).
Broadly, an SMSF is permitted to borrow money (and maintain a borrowing) provided the borrowing is made pursuant to an LRBA. An LRBA entered into from July 7, 2010 (ie. the date the current sections 67A and 67B came into effect) can only be referrable to a single "acquirable asset" held in a holding trust, which the SMSF is not otherwise prohibited from acquiring directly. In addition, a borrowing applied to the original acquirable asset can only be replaced with a "replacement asset" according to the circumstances in s 67B.
The draft ruling outlines where money borrowed under an LRBA can be applied in maintaining or repairing (but not improving) a single acquirable asset.
While borrowings under an LRBA cannot be used to improve an acquirable asset, the Tax Office says money from other sources could be used to improve (or repair or maintain) that asset. However, any improvements must not result in the acquirable asset becoming a different asset.
Acquirable asset
The draft ruling notes that an "acquirable asset" is any form of property (other than money) that the fund trustee is not otherwise prohibited from acquiring under superannuation law. Although "property" can include proprietary rights or the physical objects of proprietary rights (eg. land), the Tax Office says it is necessary to consider the meaning of property in both senses to determine whether money borrowed under an LRBA has been applied for the acquisition of a single acquirable asset.
Single acquirable asset
While money borrowed under an LRBA can only be applied for the acquisition of a single acquirable asset (or a collection of identical assets with the same market value), the Commissioner considers that a single object of property may be acquired notwithstanding that it is comprised of two or more proprietary rights. However, this will only be so where it is reasonable to conclude that the object of the separate proprietary rights is distinctly identifiable as a single asset.
Borrowings applied for repairs (but not improvements)
To determine if an asset has been repaired or maintained (or whether it has been improved), the Tax Office says reference is made to the asset's qualities and characteristics at the time when the asset is acquired under the LRBA. To this end, the Tax Office says an asset is improved if the functional efficiency of the asset (or value) is substantially increased.
If an asset is already owned by an SMSF, and thus not subject to an LRBA, the Commissioner says a borrowing to fund repairs or maintenance for that asset would not satisfy the LRBA provisions.
Repairing the asset
According to the draft ruling, "repairing" means remedying or making good defects in, damage to, or deterioration of, an asset and contemplates the continued existence of the asset.
The Tax Office says a repair restores the functional efficiency of the asset without changing its character and may include restoration to its former appearance, form, state or condition. That is, a repair merely replaces a part of something or corrects something that is already there and has become worn out or dilapidated through ordinary wear and tear, or is damaged whether accidentally or deliberately.
Acquiring asset in need of repair
The draft ruling notes that an asset may be bought in a state in which a part of the asset is defective, damaged or suffering some deterioration of what would be considered to be its normal level of functional efficiency. Accordingly, the Tax Office says a restoration of that part of the asset to its functional efficiency would be a repair (and not an improvement) for LRBA purposes.
However, funds thinking of acquiring a "renovator's delight" need to beware. The Tax Office warns that a substantial renovation of a rundown house would improve the functional efficiency of the asset as well as substantially improve its value and thus would amount to an improvement for which borrowings under the LRBA could not be used.
Improving the asset
In contrast to a repair, the Tax Office considers that an asset is improved if the functional efficiency of the asset (or value) is substantially increased through the addition of new and substantial features or rights or bringing a thing or structure into a more valuable or desirable form, state or condition than a mere repair.
The Tax Office says this is a question of fact and degree to be determined against the state of the asset at the time when the LRBA was entered into. Minor or trifling increases in functional efficiency or value will not amount to an improvement.
Improvements using money not borrowed
While borrowings under an LRBA cannot be used to improve a single acquirable asset that is the subject of the LRBA, the Tax Office says money from other sources could be used to improve (or repair or maintain) that asset. However, any improvements must not result in the acquirable asset becoming a different asset.
A borrowing applied to the original acquirable asset can only be replaced with a "replacement asset" according to the circumstances in s 67B. If the acquirable asset is changed (including by way of improvements) to such an extent that it fundamentally changes the character of the asset such that it becomes a different asset, the exception in s 67A will cease to apply.
However, the Commissioner says that restoring a house destroyed by fire, flood or cyclone by reconstructing a similar house would result in the restoration of the original acquirable asset rather than its replacement.
The draft ruling sets out the following examples to illustrate when a change to a single acquirable asset results in a different asset:
Vacant block on single title: a subsequent subdivision will result in multiple titles. One asset has been replaced by several different assets as a result of the subdivision.
Vacant block on single title: a residential house built on vacant block of land (still single title) will fundamentally change the character of the asset from vacant land to residential premises. This is a different asset.
House and land: house is demolished and replaced by three strata titled units. The character of the asset has fundamentally changed along with the underlying proprietary rights. This has created three different assets.
House and land: land is re-zoned and house is renovated to become commercial premises. The character of the asset has fundamentally changed from residential premises to commercial premises. This is a different asset.
House and land: four-bedroom house destroyed by fire and a four bedroom house is constructed using insurance proceeds. Rebuilding a four bedroom house does not fundamentally change the character of the asset held under the LRBA. Rebuilding the house restores the asset to a house and land.
Date of effect
When finalised, the ruling is proposed to apply to arrangements entered into on or after July 7, 2010 (including an arrangement that is a refinancing of a borrowing of money under an arrangement entered into before, on or after July 7, 2010).
The final ruling may (or may not) be changed from this draft, so those potentially affected should keep an eye out for the final ruling – it is not known when that will be released.
Terry Hayes is the senior tax writer at Thomson Reuters, a leading Australian provider of tax, accounting and legal information solutions.
Terry Hayes is the senior tax writer at <a href="https://www.thomsonreuters.com.au/">Thomson Reuters</a>, a leading Australian provider of tax, accounting and legal information solutions.
This article originally appeared on <a target="_blank" href="https://www.smartcompany.com.au/superannuation/20110922-borrowing-smsf-cash-for-property-repairs-the-do-s-and-don-ts">SmartCompany</a>.
 
 
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cknowlton-QnEa6ntUYP

Dos and don'ts of borrowing SMSF cash for property repairs

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The hospitality industry is suffering under lower consumer demand and higher wages, and now the number of businesses shutting down is exceeding that of new businesses entering the market, experts warn.

The warning comes as new figures from Westpac reveal the value of impaired loans has increased in the construction, accommodation and hospitality industries.
John Hart, chief executive of Restaurant and Catering Australia, says this year has been a dire one for the hospitality industry, saying it's taken a huge toll on the number of businesses that are actually operating in the field.
"This is the first year we've seen the rate of closure exceed the rate of new businesses opening in the industry... that's pretty damning," he says.
"We've always had churn of about 18-19%, and we've always had that number going out of business, but we're just not seeing the number of new businesses coming up to take their place."
As part of Westpac's legal requirements it released figures on impaired loans last week. One of the most significant increases was in the accommodation, cafes and restaurants sectors, which saw impaired loans rise from $134 million to $205 million – growth of 52%.
Hart says the failures are due to a combination of factors, although says higher wages are a key reason why some businesses can't afford to survive.
"This brings up the question of how the industry is going to look moving forward, because you can't sustain having nearly 50% of your revenues going out the door as wages."
"That's part of it, and it's just because wage costs have gotten so high, the average business is not in a profit-making situation. That's associated with this rise in impairment costs."
Overall, Westpac revealed impaired loans grew from $4.58 billion to $4.61 billion, but specific industries reveal a much darker picture.
The construction industry saw its impaired loans grow from $111 million to $180 million over the past year, while finance and insurance also grew from $150 million to $213 million – growth of 42%.
Westpac's figures show the utilities industry also saw its impaired loans rise from $56 million to $133 million, while the dedicated services industry saw impaired loans rise from $176 million to $242 million.
Actual losses for the previous year rose from $1.3 billion to $1.8 billion.
Meanwhile, separate figures from Westpac show the bank is expecting this Christmas to only be a "so, so performance", at least in the retail sector.
The bank explains that as part of its Consumer Sentiment survey, there were additional questions on Christmas gifts. Just over one-third of respondents said they would spend less, while 54% said they would spend the same amount.
Similar results were recorded in 2009, leading Westpac to believe this year will be a lacklustre Christmas season.
"That said, the outlook is mixed rather than bad with attitudes towards gift spending about mid-way between the 'dire' reading in late 2008 (immediately after the GFC) and the upbeat responses seen in 2007, the last 'boom' Christmas for retailers."
This article originally appeared on<a target="_blank" href="https://www.smartcompany.com.au/economy/20111114-more-restaurants-and-cafes-closing-than-opening-as-impaired-loans-jump-for-construction-and-hospitality-sectors"> SmartCompany</a>.
 
 
 
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More restaurants and cafes closing than opening

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The construction and tourism industries are set to be the biggest beneficiaries of the Gold Coast's successful bid for the 2018 Commonwealth Games, but the ICT, transport and services industries are all set to receive a boost as well.

Both the state government and business leaders welcomed the announcement on the weekend, which is expected to give the state an economic boost worth $2 billion and create 30,000 jobs over the next seven years.
Graham Cuthbert, executive director of the Queensland Master Builders' Association, says a large portion of the spending will be put to the construction industry with $500 million of investment expected over the next seven years.
"Certainly for the area it will be a huge benefit, there is a fair amount of construction to be done, both on venues on the Gold Coast and in Brisbane," he says.
The games will require new sporting venues on the Gold Coast, along with accommodation for athletes, along with upgrades to existing facilities in Brisbane as well, Cuthbert said.
"But I think the big key is the flow on it will have to accommodation for tourists, corner shops, corner little medical centres, all the infrastructure you get when construction boosts."
Cuthbert says tourism and construction are "absolutely linked", so the two industries will see benefits at the same time, but also says other industries such as information technology and retail will see bigger benefits as well.
"The light manufacturing stuff will be required, retail is there, there is a spin across the entire city. For every onsite job we do, we create more for other businesses."
Games consultant and entrepreneur Andrew Bell says those 30,000 jobs will appear across a number of industries, including in technology and retail.
"Across a very broad base, there will be a lot of required services. Even talking to universities, they are cranking up and doing a whole lot of work in terms of supporting new positions created within that."
"Areas that people wouldn't have imagined would get benefits. And not just limited, there is that knock on effect, so cab drivers and restaurants will see things start to build and as the state starts to focus on it over the years to come."
According to a report published by the Commonwealth Games Federation, budgets have been set aside for various elements of the games that may very well include the use of local firms and services businesses.
The games will see money spent on new information systems, telecommunications and other technologies, including the need for broadcasting equipment, installation of communication infrastructure and operating costs.
Money has also been set aside for various traffic management costs.
Other money has been set aside for medical services, catering and transport, while millions have been set aside for security costs as well. Money has also been set aside for merchandise costs.
Premier Anna Bligh said in a statement the bid would deliver up to $2 billion in benefits, saying the event would bring "superb tourism opportunities" to the Gold Coast.
"The Games will also act as a catalyst to fast track infrastructure development," Bligh said.
The Gold Coast has been suffering from low tourism numbers, due in part to the higher Australian dollar and low consumer sentiment.
"We have made a promise to the Commonwealth Games Federation and will deliver on this promise."
This article originally appeared on <a target="_blank" href="https://www.smartcompany.com.au/economy/20111114-construction-tourism-not-the-only-industries-to-see-benefits-from-gold-coast-commonwealth-games">SmartCompany</a>.
 
 
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Construction, tourism not the only industries to benefit from Gold Coast Commonwealth Games 

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Mortgage broker Mortgage Choice should know by the end of the week whether it will be 17% owned by the Commonwealth Bank. 
The Australian Competition and Consumer Commission (ACCC) is expected to rule on Friday, November 17 whether to allow the Commonwealth Bank to acquire financial planner Count Financial for $373 million, thereby acquiring Count’s 17% stake in Mortgage Choice.
Other substantial shareholders in Mortgage Choice include founder Rodney Higgins, who has a 13% stake and investment firms Invesco Australia (7%), Paradice Investment Management (13%) and Renaissance Smaller Companies (5%). 
Following the bank announcing its intention to acquire Count, Mortgage Choice CEO Michael Russell said he expected the bank to offload its stake in the mortgage broker to allow the merger to go ahead. 
He told Australian Brokernews that a decision by the bank to keep its stake in Mortgage Choice would be met by “trepidation” by brokers. 
Concerns about a potential conflict could also surface since the Commonwealth Bank is one of the largest lenders on the Mortgage Choice panel. 
A report in the Australian Financial Review following the announced takeover said the bank would be willing to sell its stake in Mortgage Choice to ensure the deal is approved. 
The ACCC reportedly delayed its decision on the merger to allow time for a submission from Mortgage Choice. 
The Commonwealth Bank already has a stake in the mortgage broking sector, as it owns a third of Aussie Home Loans. 
Should the Count Financial acquisition get the nod from the ACCC, as is expected, the bank will also acquire Count Financial subsidiary Finconnect, a small provider of mortgage broking services.
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CBA counting down the week until ACCC Mortgage Choice decision

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Auction results finally improved slightly over the weekend, fuelling hopes the latest interest rate cute has spurred first home buyers back into the market and prices are once again on the rise. But experts have warned that any property recovery won't gain real momentum until 2012.

The improved auctions results came after a number of other pieces of positive data. The proportion of first home buyers in the market rose to its highest in nearly a year and a half, and recent RP Data figures showed prices only fell by 0.2% in September – the lowest fall since February.
APM economist Andrew Wilson says while the data is a good sign property markets are improving, it may be a few months until the recovery gains strength.
"The market closes down over January because the industry itself closes down. Certainly there are holiday sales and a few bits and pieces, but people who sell during that period tend to be people that are forced to do so."
"It's just a seasonal effect. Even in the boom period, you see a tapering off in prices growth, but that tends to be picked up in the following quarter. You're going to have a lot of build-up in January and February towards March."
The prospect of a delayed benefit comes as the spring selling season enters its final few weeks. Investors had hoped the season would see a rise in the number of buyers, but an increase in the number of listings has dampened any hopes of price rises.
Instead, new data showing a rise in construction activity and housing commitments has given investors hope. But as Wilson points out, the market is about to shut down and any benefit won't be seen until February or March – by which time another interest rate cut may have occurred, according to some commentators.
"A lot of people make a decision to sell in February, so you have that pre-Easter rush. There's an advertising campaign a month or so before that, so it's a fairly fertile decision period for those going into property."
The weekend's auction results gel with the prospect of a recovering market. Sydney recorded a 57% clearance rate, as buyers rushed in to take advantage of the state's expiring first home owner benefits.
Melbourne had a 54% clearance rate, with 713 auctions, while Brisbane and Adelaide recorded results of 47% and 38% respectively.
Wilson says the results show a good recovery in Sydney, raising prospects of higher activity in February-March 2012.
"There is no doubt that Sydney has improved, after being flat for the year. It's certainly showing signs of price growth and improvements in both sales and buying activity."
"Over the next few week as we get more listings, these will be the tests for the market. As we see higher numbers, we get an idea of where the market is."
This article originally appeared on <a href="https://www.smartcompany.com.au/property/20111114-auction-results-improve-but-experts-say-recovery-won-t-come-until-2012" target="_blank">SmartCompany</a>. 
 
 
 
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Auction results improve but experts say recovery won’t come until 2012

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Stand by for November 26 as Melbourne get its super Saturday 1,000-plus auction weekend this spring after all.
It looked like vendors had been frightened off by the low 50% auction clearance rates and bearish headlines, and as a result that the benchmark would go wanting in 2011.
Melbourne typically can have five or so 1,000-plus auction weekends each year, but November 26 will be the first this year. There were some 950-auction weekends during late autumn.
There are 1,045 auctions scheduled for the last weekend of the month, according to Robert Larocca at the Real Estate Institute of Victoria.
It’s well short of Melbourne's biggest auction day, with a record 1,400 properties, which was in March 2008.
Sydney will have a 630-plus weekend on the last Saturday of November, according to Clinton McNabb at Australian Property Monitors.
There will be fewer auctions that weekend than Sydney's record 779 weekend in November 2010, the biggest auction day in the state's history.
In the meantime Sydney’s weekend clearance rate was 57% this past weekend, which was the highest for two months.
Melbourne’s clearance rate on the weekend was 54% compared with 50% on each of the past two weekends.
Next weekend the REIV expects about 815 auctions in Melbourne and APM expects 530 in Sydney.
Melbourne’s last 1,000-plus flurry was the December 12 weekend last year, with 1,235 auctions and a clearance rate of 57%.
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Melbourne gets its super Saturday test after all

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“Global economic headwinds” have slowed the growth of rents and capital values of offices in the Asia Pacific region in the third quarter of 2011, according to CBRE’s global chief economist.
The Asia Pacific Office Rent Index, which measures office rent, rose 12.9% year-over-year, “reflecting a continued strong rebound from the global recession,” says CBRE global chief economist Robert McGrath.
But there was just a 2.2% increase for the third quarter, “indicating that even in the region with the strongest growth, the recovery has moderated”.
It was the same story with the Asia Pacific Capital Value Index, which measures office capital, which increased 1.1% for the quarter 16.5% year on year.
“[The] quarterly increase was well below the average quarterly growth of 3.7% since Q3 2009,” McGrath writes.
However, Asia Pacific fared better than the rest of the world. The global quarterly growth of office rent was just 0.9% with a year-on-year increase of 5.1% while the average quarterly growth of office capital was 1.1% with a year-on-year increase of 10.7%.
“Although both rents and capital values continued to rise, quarterly growth rates lost momentum,” says CBRE global chief economist Raymond Torto.
“Even in Asia – which continues to propel both indices higher – activity slowed due to global economic headwinds.”
America fared poorly in Office Rent Index, with a year-on-year increase of just 1.5% and a stunted quarterly growth of 0.4%.
“Although the Americas Rent Index reached its trough in Q2 2010, Q3 2011 marks only the third quarter of notable rental growth, reflecting the lingering strains in the aftermath of the global financial crisis as well as the uncertainty arising from employment, consumer confidence and debt-related challenges,” says McGrath.
Despite Its feeble rent performance, the Office Capital Value Index for America was stronger, with quarterly growth increasing 1.5% and a year-on-year growth of 10.5%.
“[The increases demonstrate] that investor demand remains strong despite economic uncertainty,” says McGrath.
 
 
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Asia Pacific office rents growing more slowly due to 'global economic headwinds': CBRE

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Melbourne’s booming fringe office market will reach the 1 million square metres mark of A-grade office space over the next few years when a number of major Docklands projects are completed, according to research by Savills.
The Melbourne fringe office market includes Southbank, <a href="https://www.propertyobserver.com.au/victoria/office-tenants-flock-to-st-kilda-road-savills/2011072150879" target="_blank">St Kilda Road (the busiest office leasing market in the second quarter of the year)</a> and the new Docklands precinct.
It will have nearly double the A-grade square stock (the highest grade outside of inner-CBD premium offices) of its nearest competitor, the Brisbane fringe market, with 527,325 square metres of A-grade space. Sydney is next with a fringe market of 311,395 square metres, followed by Perth (123,873 square metres) and Adelaide (35,520 square metres).
Currently under construction in Docklands are the 13,000-square-metre new headquarters for Melbourne Water at 990 La Trobe Street, the ATO and Marsh Mercer tower at 735 Collins Street (part of the 185,000-square-metre Collins Square project), the 20,000-square-metre Aurecon building at 850 Collins Street and NAB’s second Docklands building at 720 Bourke Street, featuring 63,000 of office space for bank employees.
New projects that will bolster the fringe market include MAB’s 395 Docklands Drive (40,000 square metres) and Charter Hall and Flagship‘s 685 La Trobe Street (35,000 square metres).
According to a <a href="https://www.propertyobserver.com.au/office/melbourne-office-market-to-remain-strong-until-2014-colliers/2011091251513" target="_blank">September Colliers report,</a> more than 70% of the 260,000 square metres of new office space set to become available over the next three years is already pre-leased. 
This strong forecast follows a six-month period from January to June 2011, when the Melbourne office market demonstrated the highest level of net absorption nationally.
At the current rate of development the central Melbourne market – comprising the CBD, Southbank, Docklands, East Melbourne and St Kilda Road (now more than 5.45 million square metres of space) – will exceed that of central Sydney ( the CBD and North Sydney), currently the biggest office market with 5.55 million square metres, by 2015.
Savills Australia national head of research Tony Crabb says the 1 million-square-metre milestone is a “testament to the attraction that Melbourne’s office market generally has for local, interstate and international businesses”. 
Crabb says the key factor in the market’s growth has been the availability of development sites which have facilitated the construction of modern, campus-style buildings. 
“These sites have and continue to assist the growth of the fringe market with relevant, modern accommodation which is both affordable and accessible. They have also allowed businesses to upgrade and consolidate into a location offering access to the best available amenity, which are, these days, pretty much essential requirements in the quest to attract and retain quality staff,’’ he says. 
Large tenants requiring space of 10,000 square metres or more have also been a factor in underwriting the viability of new buildings while the diversity of business types has also been beneficial, Crabb adds. 
Melbourne is currently the headquarters for five of Australia's 10 largest corporations – ANZ, BHP Billiton, NAB, Rio Tinto and Telstra – as well as institutions such as the Business Council of Australia and the Australian Council of Trade Unions (ACTU). 
Savills Victorian head of office leasing Nicholas Farley says Melbourne has Australia’s largest container port, Australia’s most important manufacturing sector, a very accessible international airport and very competitively priced industrial land in the west ideal for large-capacity warehousing and supported by the nation’s best road transport infrastructure. 
“These factors, along with those cited above, and Melbourne’s reputation as the world’s most livable city, have also been important drivers of demand for both CBD and fringe office space,’’ he says. 
Besides being the headquarters of two of the big four banks (NAB and ANZ), Melbourne is also home to 40% 0f super funds and 65% of industry super funds.
Photo courtesy of Tourism Victoria
 
 
 
 
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