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.

&nbsp;

&nbsp;

&nbsp;

&nbsp;

&nbsp;

[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

<html><body>
Book franchises Dymocks and Collins have expressed their disappointment in a long-awaited report into the future of the book industry that did not recommend the abolition of parallel importation rules.

Dymocks CEO Don Grover warns that independent booksellers will suffer from the recommendation to reduce to 14 days - rather than scrap altogether - the time a local publisher can decide on whether it will publish an overseas book before it can be imported.
"Booksellers having to wait 14 days from the release of a product overseas is 14 days too late," Grover says, noting customers can see a book online on an American and European site and buy it immediately.
"It's taken two years to find out we're not going to be more efficient in getting books to customers," Grover says.
"The report is dealing with the issues, but not the one that would make the biggest difference – removing parallel importation restrictions."
He says the delays in getting new releases to market and the price differential between Australia stores and online offerings will continue to pressure booksellers, estimating that annual sales for the industry are down 20% year on year.
The industry was rocked in February by the collapse of REDgroup Retail, which owned Borders and Angus &amp; Robertson. Both Dymocks and franchise book chain Collins Booksellers picked up some stores from that collapse.
The report by the Book Industry Strategy Group, chaired by Barry Jones, has 21 recommendations, including:
<ul>
<li>The creation of a book industry collaboration council to provide advice to the industry.</li>
<li>For universities and the Federal Government to invest $16 million between them to establish a national university press network.</li>
<li>Dropping the goods and services tax on books, and if not applying the GST on online purchases.</li>
<li>Making online packages within Australia more affordable.</li>
<li>Ensuring that an Australian publication is released within 14 days of publication elsewhere in the world, rather than current timeframe of 30 days.</li>
<li>Funding of $5 million for the development of digital infrastructure to help local suppliers compete internationally.</li>
<li>All literature prizes funded by government, such as the Prime Minister's award, be made tax-free, as is the case with the science prize.</li>
</ul>
Speaking yesterday, publisher Louise Adler said $2.3 billion worth of books were sold in Australia in 2010, and $35 million worth of eBooks were sold.
"What we predict is that will rise to a total of sales of anywhere between 6% and 25% by 2014," Adler said, according to a transcript.
"In 2010 over 25,000 people were employed in our industry, 10,000 as content creators, 5,000 in publishing and distribution, 2,000 in printing, and over eight and a half thousand in retail."
Book Industry Strategy Group chair Barry Jones noted that although Australians were typically slow to adapt to technological innovation, once they adopt, their take-up rate is rapid.
"The proportion of eBooks bought is currently about 5% of the total market, but in three years, our best estimate was that the proportion is likely to increase to 25%. And that may be a gross understatement."
Innovation Minister Kim Carr yesterday kept an open mind on the recommendations when being interviewed by the ABC, saying the industry would need to face up to challenges and he would consult with other relevant minister about the recommendations.
Daniel Jordon, who heads Collins Booksellers, says elements of the report are very good, including the move towards 14-14 for parallel importation and the book industry website Title Page.
But Jordon noted:
<ul>
<li>The lack of dates for the implementation of recommendations.</li>
<li>The report was overly focused on the publishing and print side which employs 2,000 people, rather than the book-selling side, which employs 8,000.</li>
<li>There is unlikely to be government support for either removing the GST on books sold here or introducing it to online sales.</li>
</ul>
This article originally appeared on<a href="https://www.smartcompany.com.au/retail/20111110-dymocks-collins-says-independent-bookshops-will-be-hurt-by-decision-not-to-abolish-parallel-import-rules" target="_blank"> SmartCompany</a>.
 
 
 
 
<ul></ul>
</body></html>

cknowlton-QnEa6ntUYP

Dymocks says independent bookshops will be hurt by decision not to abolish parallel import rules

<html><body>
A leasing expert predicts next year could produce more retail collapses than this year if Christmas trading disappoints, amid calls from a retail body to halt retail rent hikes.

Russell Zimmerman, executive director of the Australian Retailers Association, says the rule of thumb used by Westfield in determining rent increases – CPI plus 2% – is out of touch, given the number of retail collapses this year, poor sales in clothing and footwear, and warnings by retail giant Premier Investments that shopping centre landlords risked losing brands if they did not lower rents.
"Look, I don't believe the model can be sustained," Zimmerman says. He says while that model might have worked when retail sales were up by 6%, in the current climate rent rises of CPI are more appropriate.
"You only have to look at the recent closures and restructures," Zimmerman says, pointing to the collapse of REDgroup Retail, Colorado and Brown Sugar. He says it's been difficult for retail over the past 18 months, but particularly so since May.
Zimmerman says with CPI running at 3%, the price increase over a five-year rent can reach as high as 28%, including compound interest.
He adds that although Westfield says its Australian and NZ shopping centres are almost full, many tenants are "not temporary tenants" – that is, a company with a business in one Westfield centre is offered a lease in another at reduced terms – therefore "there are a whole lot of tenants supporting that 3.8% increase".
"Landlords should be more realistic in their negotiations. It's just unsustainable."
In its update this week, shopping mall giant Westfield reported that average specialty store rent grew by 3.8% year on year to $1,460 per square metre.
By contrast, retail sales are up to 2.3% year or year. The Australian Bureau of Statistics says retail sales lifted by 0.4% in November, the third consecutive month of gains.
Westfield – which has 43 centres in Australia and 11,792 retail outlets – said 99.5% of its Australian and New Zealand portfolio was leased.
But Simon Fonteyn, managing director of Leasing Information Services, has played down the prospect of Westfield or other landlords reviewing their lease structures, and says this Christmas will be key for the viability of many retailers.
"There are a lot of tenants, especially in fashion industry, that are really hoping for a decent Christmas," Fonteyn says.
"If that doesn't happen, we'll see an even tougher year than this one."
Fonteyn says Westfied's rent rises are usually CPI plus 2-2.5%, CFS uses fixed increases of 5%, and some landlords use between 4-5% per year.
"The question is not fixed increases; it's more about whether rents are sustainable long-term," he says.
"And at the moment, it depends on what category you're talking about, because certain sectors are more susceptible to the downturn, such as fashion, footwear, jewellery, whereas others – telephones, entertainment, food and coffee – are more resilient."
But there is some wriggle room: Fonteyn says there's a push for independent retailers to be treated differently to chains because they add a point of difference, and other retailers might look at reducing their rents when they expire or do a short deal for a few years.
The comments follow the announcement by the Franchise Council that it was writing a Retail Tenancy Code of Conduct – now with help with the competition regulator – to help prevent excessive rent rises and conflicts between landlords and tenants.
Zimmerman of the ARA adds that retailers should not be forced to hand over their turnover figures to landlords, and there should be lease registeries across the country.
"It's akin to giving them the pin to your bank account," Zimmerman says. He proposes the sales figures be handed to a third party, such as a Government department, and collated, to ensure they are not being used by the landlord to justify excessive price hikes.
"I understand centres needs to know how the stores are trading, but I've had retailers tell me they've been told that, 'ah you can afford this,'" Zimmerman says.
This article originally appeared on <a href="https://www.smartcompany.com.au/retail/20111110-retail-body-calls-for-halt-to-rent-hikes-as-leasing-expert-says-christmas-holds-the-key-to-a-better-2012" target="_blank">SmartCompany</a>.
 
 
</body></html>

Retail body calls for halt to rent hikes 

<html><body>
The Westfield Group has announced it has agreed to sell its 75% interest in the Broadmarsh shopping centre in Nottingham in the United Kingdom for £55 million (A$86 million), representing a premium to Westfield’s most recent £33.6 book value.
Westfield’s interest is being sold to Capital Shopping Centres and is subject to pre-emptive rights held by Westfield’s 25% joint venture partner in Broadmarsh, Possfund.
Broadmarsh (architect's impression above) was Westfield’s first acquisition in the UK in 2000.
While it was intended to redevelop the centre, the sale reflected an increased emphasis towards investment in larger, iconic centres such as Westfield London and Stratford City, adjacent to the site of the 2012 London Olympics.
It also announced it had entered into exclusive arrangements with the Whitgift Foundation (UK) to explore the potential redevelopment of a major retail centre at Croydon in south London.
Westfield and the Whitgift Foundation, the freehold owner of the Whitgift shopping centre, intend to work together to examine opportunities arising from the retail-led regeneration of the Croydon town centre with the same approach adopted in the development of Westfield London and Stratford City.
Croydon is in south London close to Gatwick Airport and serves the affluent trade areas of Surrey and Kent as well as parts of Hampshire, East Sussex and West Sussex.
 
</body></html>

jchancellor-FAypfDUnLy

Westfield sells and seeks out new UK projects

<html><body>
As I have argued all year, the most interest rate-sensitive sector of the economy, Aussie housing, is a great “hedge” against adversity (or the perception of such, which, with enough spruiking, can sometimes overwhelm reality). 
In 2010 we were bearish on 2011 house prices based on our belief that the RBA would be compelled to raise rates a couple of times (we actually got most of those hikes in November once you include the bank top-ups). 
On the assumption that the global economy tracked to trend, we were not projecting a genuine rebound in housing activity until mid 2012, by which time we felt the RBA would have completed this monetary policy cycle. 
However, we have consistently said that if the “Chindia” story blew up, or if we get a GFC Mark II, the RBA will have no choice but to slash rates. It was, after all, expecting to lift them on the basis of a once-in-140-year terms of trade boom. 
And contrary to the conventional (nay simplified) wisdom that a GFC Mark II is going to be bad for “everything”, it is possibly a very good outcome for Australia’s highly interest rate-sensitive housing market. 
For several months we have seen signs that the market was starting to “base” after recording a price correction of 3% to 4%. This was confirmed with yesterday’s housing finance data for the month of September, which validated partial indicators that first-time buyers are at the vanguard of a market rebound, accounting 16.4% of all new home loans. This was the highest first-time buyer participation we have seen in over a year (or since May 2010). 
What is more interesting is the sustained recovery in housing finance volumes. In the month of September, the number of seasonally adjusted home loans approved for the purchase of established homes (which cover the vast bulk of sales) rose to its highest level since way back in the boom-time conditions of November 2009. 
Different economists have spun this and the consumer confidence data in different ways to suit their forecasts. For example, some “talk the data down” by quoting the “value” of loans approved as opposed to the actual “number”. Since values are determined by a range of factors (eg, the actual number, the type of borrower, the price of the home, and the loan-to-value ratio), they are a much less precise signal on housing activity. 
As the chart below shows, the crucial take-away is that some time before the RBA had even decided to cut interest rates, there was unambiguous evidence that housing credit, which is a critical driver of housing demand and ultimately prices, was on the way up.
Click to enlarge
<a href="/images/stories/nov10.gif" rel="shadowbox" title="Click to enlarge"><img src="/images/stories/nov10thumb.gif"></a>
There is ordinarily a multi-month lag between the housing finance flows and actual house prices. The impact of the RBA’s November rate cut, which I have argued is much more significant than most analysts appreciate, was also reflected in yesterday’s consumer sentiment data. 
The Westpac-Melbourne Institute survey reported that consumer confidence surged 6.3% in November to 103.4 points, which is officially above the long-term average of 100 points. No recession in sight as far as real Australians are concerned, I am afraid. 
The logic I have been belabouring of late is that for most of 2011 the average Australian family was budgeting on at least two to three future rate increases, according to Westpac-Melbourne Institute data. An extraordinary 25% to 30% of the population thought they would get slammed with four-plus hikes. 
On this basis, the RBA’s shift from talking up the prospect of tighter monetary policy to formally reducing rates in November is going to have a profound effect on community expectations. 
Families will now almost certainly be banking on stable rates, or rate cuts. The likelihood of the latter is increased by both financial market pricing, which is penciling in up to six more rate cuts by June 2012, and the “new normal” among most Aussie economists, who have switched from hawkishly predicting up to four or five hikes over 2011-12 to canvassing cuts. Indeed, some of the biggest hawks at the end of last year are today’s most vocal doves. How times change, eh! 
The banks have, for the moment, also done their part. You can get one-year fixed-rate loans for less than 6%. Three year fixed-rates are falling fast, with Suncorp promoting a 6.2% per annum product. And market variable rates are now clearly in historically discounted territory, with the likes of UBank offering a 6.39% per annum loan for select customers. 
This morning’s unemployment data also reinforces this central story. Contrary to many predictions of a rise, the unemployment rate fell from 5.3% to 5.2% with solid total employment growth of 10.1k persons during the month of October. Even more importantly, the previous month’s total employment result was actually revised up from an already strong 20.4k to 22.5k persons. 
Notwithstanding the hard economic facts that Australia’s economy is cruising along at what appears to be a comfortable trend rate of growth, the chorus of doomsayers, and the RBA’s desire to take some insurance out against the risk of a global catastrophe, will only help to solidify Australia’s housing market. 
We have, as a consequence, brought forward our mid-2012 expected recovery to the first few months of next year. And, to be clear, the further rates fall, the stronger that rebound is likely to be.
Christopher Joye is a leading financial economist and a director of Rismark International and Yellow Brick Road Funds Management. The above article is not investment advice.
 
</body></html>

chrisjoye-JYhJsTrNRC

Rate cut and unemployment data point to housing recovery

<html><body>
Early signs the property market is beginning to improve and that first-home buyers are returning has boosted sentiment among industry analysts, but some experts are warning the market still has a long way to go before it starts reversing its decline.

The positive sentiment was sparked by new home financing figures released by the ABS yesterday that show the number of dwelling commitments for owner occupied housing rose by a seasonally adjusted 2.2%.
In a sign that has some property experts excited, the number of first-home buyer commitments as a percentage of total commitments rose to 16% – the highest level in just under a year and a half. At this time last year, commitments were at 15.9%
But while SQM managing director Louis Christopher says the data is encouraging, he warns it's also prudent to consider the total number of buyers rather than the percentage.
"There are first-home buyers in the market," he says, "but it's only the percentage of the absolute number of buyers. You can see a situation where the total number of buyers is actually falling, even though the proportion increases."
"I do think it's fair to say that housing finance approvals as a measure of demand have picked up, but I strongly believe the market is still watchful about what's happening in Europe."
Yet it's hard to deny the string of positive data that has been released in the past two weeks. Price data from RP Data showed the lowest decline in several months, while SQM's own stock on hand data shows the number of new listings remained flat in October.
Such a result suggests sellers may be starting to draw back from the market, while the ABS figures suggest buyers are coming back. But Christopher warns prospective buyers and sellers need to be wary.
"There is a recovery in housing demand happening at this time, from very low levels, but it is occurring," he says. "Things have improved since the middle of this year, and with the interest rate cut, that is only going to be more encouraging."
"But we still need to be wary about what's happening overseas. We are definitely seeing some changes, but if the market blows up in Europe, there are going to be huge problems for our banks and then any recovery will be off."
This article originally appeared on <a target="_blank" href="https://www.smartcompany.com.au/property/20111110-first-home-buyers-returning-to-property-market-but-experts-warn-european-crisis-weighing-heavily-on-buyers">SmartCompany</a>.
 
 
 
</body></html>

First-home buyers returning to property market but experts warn European crisis weighing heavily on buyers

<html><body>
<img src="/images/stories/vicwarehouse_0005_rouse.jpg.jpg">
One of Melbourne’s most interesting warehouse conversion offerings is a four-bedroom <a target="_blank" href="https://www.realestate.com.au/property-townhouse-vic-port+melbourne-108350811">Rouse Street abode</a> (pictured above) in Port Melbourne with a sweet pedigree. Owner Richard O’Bryan has a history of converting industrial buildings for residential use. He cut his teeth on the Hat Factory in Prahran and went onto warehouses in Collingwood and Kensington. Also worked on the Melbourne Central Shot Tower conversion as a trainee construction manager. He’s also been responsible for the Swallow and Ariel factory in Port Melbourne and the Red Tulip development in Prahran.
He put his 30 years of experience into the Port Melbourne development converting two adjoining buildings that had been built for the Australasian Sugar Refining Company in the 1890s and Robert Harper and Company in 1900. The seven apartments were finished and sold in 2007 and since then O’Bryan combined two of the apartments into one townhouse of more than 210 square metres and kept it as his family home.
With plans to head to Bondi, the four-bedroom residence with huge entertaining and living areas, gym and its own courtyard has been listed for November 19 auction. The three-storey property has expectations for more than $1.8 million through Gerald Betts from RT Edgar in Albert Park.
“This property is unique. It’s hard to put a price on it,” says Betts.
<img src="/images/stories/vicwarehouse_0001_palmer.jpg.jpg">
In Fitzroy a grand conversion gives little away with its imposing red brick façade. Past the discreet entrance of the <a target="_blank" href="https://www.realestate.com.au/property-house-vic-fitzroy-108339686">Palmer Street property </a>(pictured above)– and its more than 185 square metres of space with a very high-roofed interior. None of the industrial past interior remains, but it has kept the wide-open spaces associated with conversion. It’s scheduled for November 12 auction with $1.1 million plus hopes through Simon Shrimpton with Jellis Craig in Clifton Hill.
<img src="/images/stories/vicwarehouse_0002_penny.jpg.jpg">
In South Yarra the work of artist Stephen Bram and architect James Brearley remains in a 1995 conversion. The 250-square-metre <a target="_blank" href="https://www.realestate.com.au/property-house-vic-south+yarra-108294126">Penny Lane property</a> (pictured above) is on a 112-square-metre block and is being sold as part of a liquidation sale under instruction by Rodgers Reidy Chartered Accountants. Estate agent Michael Major from Sutherland Farrelly East Melbourne is expecting $1.2 million plus at the November 12 auction.
<img src="/images/stories/vicwarehouse_0000_mollison.jpg.jpg">
An Abbotsford conversion has kept its rustic charm. The <a target="_blank" href="https://www.realestate.com.au/property-townhouse-vic-abbotsford-108566011">Mollison Street property</a> (pictured above) has three bedrooms and two bathrooms spread over three floors. It’s been listed with Sarah Case through RT Edgar in Toorak and the property is tipped for around $2 million.
<img src="/images/stories/vicwarehouse_0004_rossmoyne.jpg.jpg">
A Thornbury two-level warehouse conversion has been listed with a $1.09 million asking price. The three-bedroom <a target="_blank" href="https://www.realestate.com.au/property-house-vic-thornbury-107560897">Rossmoyne Street</a> home (pictured above) boasts three outdoor areas including one with a pond. Jonathan West from Nelson Alexander Real Estate in Northcote has the listing for the 335-square-metre abode, which sits on a 317-square-metre block.
For stylish warehouse conversions in Sydney, <a target="_blank" href="https://www.propertyobserver.com.au/residential/eight-residential-warehouse-offerings-in-sydney/2011110852267?source=flicker2?source=flicker2">click here.</a>
 
</body></html>

awalsh-7Ub9EypybQ

Port Melbourne tops list of five special residential warehouse offerings in Melbourne

<html><body>
{yoogallery src=[images/stories/november10melton]}
A Townsville mansion owned by the founders of collapsed Storm Financial Services, Emmanuel and Julie Cassimatis, has been listed for auction next week.
The eight-bedroom home has failed to sell at the family’s asking price of $3.8 million ever since first being listed in 2006.
The sale highlights the demise of the couple, who oversaw the loss of $3 billion of investors’ money in 2009. They have since sold their private jet and a similar property in Brisbane, which went for $2 million this year. The Cassimatis couple are charismatic socialite figures in Townsville, with the mansion once representing the financial success of Townsville business.
This 900-square-metre property, which sits on an 1,854-square-metre block, features a $75,000 Waterford crystal chandelier, lifts, two swimming pools, four bathrooms and has views over Magnetic Island, Cleveland Bay and the Townsville CBD.
Its listing agent Garry Byrnes from Ferry Property Townsville has had the Melton Terrace listing on and off the market since 2009. 
It has been reported the current price guide is now about half the original asking price of $3.8 million, although Byrnes has been responsible for the town's most recent prestige house sale.
The agent's marketing says " Under strict instruction from the owners, this property is to be sold."
The property has not been lived in for many months. 
It was originally bought for $280,000 in 1997. 
It has been reported the current price guide is now about half that, although Ferry Property agent Garry Byrnes has been responsible for the town's most recent prestige house sale.
 It was a three-level Stanton Terrace property sold for $2.85 million in 2010. 
The ASIC website notes ASIC's investigations into the collapse of Storm continues.
</body></html>

Cassimatis property for auction three years after Storm collapse

<html><body>
The definition of a developer’s nightmare is: hearing that your builder is going into liquidation.  So what happens when a builder you’re using does go into liquidation? 

With the announcement of Cosmopolitan Homes in NSW going into liquidation last week, I thought I’d share what I know about this topic. 

When your builder raises a contract, it also needs to raise insurance. The policy that is most important is the home warranty insurance.

[smartcode_project:default project_id=6284]

Home warranty insurance is issued to the developer/homeowner to protect them against loss due to non-completion, defects and breach of statutory warranties by the builder. It is legally required and is only triggered if a builder dies, disappears or becomes insolvent before completing the home or fixing the defects.

I’ll repeat: you can only claim on this policy if your builder dies, disappears or becomes insolvent.  These are pretty drastic outcomes for the builder, but can also have dire consequences for you.

I think we all understand what ‘dies’ means.  ‘Disappearing’, well I’m not sure how this is legally defined, I couldn’t find an explanation. How long does he have to be gone for?  Does a three-month trip to Vegas count?  What I do know more about is the process of ‘becoming insolvent’, and it can be quite drawn out.

If you find yourself in the situation where your builder has gone into voluntary or court-appointed liquidation, the good news is you are most likely covered by home warranty insurance. The bad news is your cover may not be enough to complete your building works. 

I’m going to let you into a little-known fact:  Your home warranty insurance policy only covers 20% of the builder’s contract and up to a maximum of $300,000 for incomplete work.  So the stage your builder goes broke is very important, but totally out of your control. I’ll come back to this.

Going into liquidation is not easy for anyone. For voluntary liquidation the builder needs to acknowledge that he just can’t keep trading. There can be a period of denial as he comes to terms with this. He should not be trading while insolvent because that’s against the law.  Signs of distress may include: delays in completing the stage of build and disgruntled tradies who have not been paid or are continually having to chase payment and the builder being over anxious for his next drawdown. So when the builder finally faces reality and goes into liquidation, he needs to appoint an accounting firm to manage this process.  They will be known as the liquidators. Their job is to notify all “creditors” of the situation.  A creditor will be you if you are under construction with the builder and anyone else he owes money to like staff, contractors and suppliers.

The builder may be put into court-appointed or official Liquidation. This is when someone applies to the court that a company should be wound up in insolvency. If this happens the court will appoint a liquidator.

Either way, before you can make a claim under the home warranty insurance policy, the status of the company must change from “registered” to “under external administration and/or controller appointed” on the ASIC website. Once the company’s status has been changed, you can lodge your claim.

When you make your claim, you’ll be asked to complete a schedule of payments you’ve made to the builder up to this stage. You’ll know how much you have left in your construction loan account. So then it’s a roll of the dice to see if you can complete the works with the insurance payout.

The insurance company will appoint an assessor who will inspect the site and put a building schedule together for the works that are outstanding. This is sent out for tender to builders on the insurance company’s panel and you can also get your own quotes.  This is when you may discover that the works required to complete the project may not be covered by the claim and what’s left in your construction loan.  With just 20% of the original builder’s contract to play with, there really isn’t a good time for your builder to shut down.

How can you avoid the situation of a builder going broke? Well you can certainly do your research on them before signing up. Get a list of their tradies and talk to them about how they are treated by the builder. Does he pay on time? Is he good to work for?  How long have they been working with him? Talk to past clients and ask how their experience was.  Check the Department of Fair Trading website for any past complaints and the ASIC website to see how long the builder has been trading and his status. 

At the end of the day, you will need to trust yourself and go with how you feel about a builder. After all, we cannot know everything that is going on with a company. When you find a good builder, stick with him! 

Interesting links: 

<a href="https://www.propertyobserver.com.au/https://homewarranty.nsw.gov.au/portal/server.pt/community/a%3Bhome/255">https://homewarranty.nsw.gov.au/portal/server.pt/community/a%3Bhome/255</a>  

<a href="https://www.fairtrading.nsw.gov.au/">https://www.fairtrading.nsw.gov.au</a>  

<a href="https://www.search.asic.gov.au/gns001">https://www.search.asic.gov.au/gns001.html</a>

Jo Chivers is director of <a href="https://www.propertybloom.com.au/" target="_blank" title="Property Bloom">Property Bloom</a>, which manages property development.
</body></html>

jochivers-wq5Bp59R5a

What to do when your NSW builder goes into liquidation

<html><body>
Negotiating on a property is all about balancing the risks with the rewards. In your quest for the reward of buying your dream home, you might run the risk of paying more than you needed to. But focusing purely on the reward of paying a lower price for a home might raise the risk that another buyer trumps you and you miss out on the house you love.
Let’s look at a couple of scenarios, and the risks and rewards they might raise:
Buying before auction
Let’s say you decide to make an offer before auction. Making an offer early gets rid of the competition that hasn’t yet made itself known to the selling agent. It can also work because selling agents are unlikely to recommend against an offer that has some grunt about it. At auction day they don’t want egg on their face.
If your offer is accepted, the reward is that you get the main prize, your new home. The risk is you may have paid more than you needed to had you waited till auction. Of course if you are successful you will never know – you can congratulate yourself and nobody can argue the toss with you.
But there is also a risk that your pre-auction offer may not be accepted, but instead be used (correctly and ethically) by the selling agent as a price floor when it comes to auction day – not only for you but for other buyers too.
Overall going early is a strategy we favour only when you have done your due diligence and you believe that the genuine expected price (not the agent quote) is at market value and close to your budget limit. Going early involves a bit of smoke and mirrors, and we feel relatively comfortable in that domain. If you don’t then waiting till the auction may be your best bet.
Private sale negotiations
When the asking price of a quality home drops from $2 million to $1.8 million due to some tough negotiation most buyers think they are now in a better risk v. reward position to buy the home. But if you offer, say, $1.7 million at this point you can put yourself at the risk of missing out on the home. That’s because other buyers may now appear who consider $1.8 million a good price and may be prepared to pay $1.85 million.
Alternatively not trying to lower the price on an overpriced home is also a risk – especially if the home is a B grader. When there is little proof of market competition – in a private sale or vendor bid pass-in – you may end up overpaying. In time that will affect your resale, adding risk to the long-term financial benefits of the deal.
On the other hand in a flat and falling market it may be quite a low risk to walk away from an asking price or a pass-in figure that seems very, very high – even if you love the home – as there is little chance of another buyer.
But in other scenarios there is a risk walking away from a home you love, just because you’re reluctant to pay a few thousand dollars extra. Say a property you love has been passed in to you as the highest of three bidders at an auction – why would you refuse to budge on your last bid, even though it was only $1,000 above the other bidder? Sticking to your guns may only mean the underbidder gets a chance to buy and you miss out on a home you really wanted.
Another additional risk buyers often take for no reward is walking away from the auction on Saturday, only to pay the reserve on Monday anyway. The most common time for a deal to be done after a pass-in is that same weekend. So if you are happy to pay the price why not just buy it on the Saturday rather than run the risk of someone else buying it that weekend if buying the home is your main goal?
At the end of the day, any home buyer has to take risks to get rewards – unless you have a policy of only going after homes that nobody else bids on. And buying a home that nobody else wants is not a great strategy for good long-term emotional and financial outcomes.
Mal James is principal of<a href="https://www.jamesbuyeradvocates.com.au/" target="_blank" title="James Buyer Advocates"> James Buyer Advocates</a>, which advocates on behalf of buyers of property over $1 million. Mal writes weekly auction reports, advice and in-depth market analysis on James' website.
 
 
</body></html>

maljames-vHwm28JUAa

The risks and rewards of buying before auction, private treaty negotiations and auction day

<html><body>
Several readers made contact with us after <a target="_blank" href="https://www.propertyobserver.com.au/residential/reducing-stamp-duty-not-boosting-building-the-key-to-solving-housing-crisis-michael-matusik/2011110852260?source=flicker3">yesterday’s story</a>, asking if we knew about the actual distribution of the Building Boost applications across the state.
We have had a hell of a time getting such information out of the government, with more than the usual amount of stonewalling.  Queensland Labor is next releasing information about the Building Boost in late November.
Methinks – and assuming a successful 2018 Gold Coast Commonwealth Games bid (which, by the way, will be announced at 8am this Saturday) – that we might be going to the state polls much sooner than we think.  Several glossy new documents – well, revamped ones, really – have been released in recent weeks, including Queensland government’s 20-year Infrastructure Plan (again!).  But more on this later.
My money is on Anna Bligh calling an election this weekend.  If so, we will be voting this side of Christmas.
The table below outlines the distribution of the Queensland Building Boost applications as at October 7 – the latest figures available.  Remember, as at October 26 (again, the latest total stats available) 1,113 state-wide applications had been made, of which 379 have been approved.  Now, again, maybe buyers are waiting in the wings and we will see an enormous rush towards January.  I do hope so.  But the stats to date don’t hold that much promise.
<img src="/images/stories/matusiknov10.gif">
Now, let’s draw some attention to the latest version of the state’s 20-year Infrastructure Plan.  It would really help matters (or at least humour us) if the Queensland State Government would at least acknowledge the property industry’s existence.  According to the 20-year Infrastructure Plan, the four key industries behind Queensland’s economic growth are:
<ul>
<li>agriculture</li>
<li>tourism</li>
<li>manufacturing</li>
<li>mining</li>
</ul>
No mention of the property or construction industries.  None at all.  How ironic that this ignorance is highlighted in a document that largely requires the construction industry to implement it.  So, in the lead up to a state election – whenever it is – here are some pertinent facts.
<ol>
<li>The property industry is the largest private sector contributor to the Queensland economy</li>
<li>It generates $31 billion of Queensland’s GSP – 13% or one and half times mining’s 8.4%</li>
<li>It employs directly 280,000 – the state’s largest direct employer</li>
<li>With indirect jobs – 585,000 or 30% total employment in Queensland</li>
<li>It is the single largest contributor to state taxes – $3.8 billion or one-third of total state tax revenue</li>
<li>In addition, local governments across Queensland collect over $4 billion in rates and charges each year</li>
</ol>
Sorry if I sound short-changed right now and, frankly, more than a little pissed off!
Michael Matusik is the director of independent property advisory Matusik Property Insights. Matusik has helped over 500 new residential developments come to fruition and writes the weekly  <a href="https://matusikmissive.wordpress.com/" target="_blank" title="Matusik's Missive">Matusik's Missive</a>.
 
 
</body></html>

Latest Expert Insights

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

Guides

Editor's Picks

Guides

Developments

New apartments

New townhouses

News

Latest Expert Insights

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

Guides

Editor's Picks

Receive the latest news stories to your inbox

Guides

Developments

New apartments

New townhouses

News