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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Macquarie Investment Management doesn’t expect the solitary rate cut will be sufficient to materially stimulate consumer spending or the housing market.
It has suggested the latest employment reading could be crucial in determining whether rates are cut again next month.
But Macquarie foresees that retail spending over Christmas will remain lacklustre and firms will continue to trim payrolls in order to protect profits. It says in that case the RBA will be forced to resume the rate cutting cycle.
“In our view, three further 25bps rate cuts in February, May and August 2012 appear most likely,” Macquarie says.
Of the 40% or so of households who currently have a mortgage, more than half of them are already paying more than their minimum monthly repayment.
“We think that most of these households will simply take advantage of the reduced interest payment to increase their principal repayment and pay off their mortgage more quickly.
“At the margin, those households that had fallen behind their mortgage repayments will certainly welcome any interest rate relief. But, relatively speaking, this will only affect a handful of people – something like 0.1% of households,” it says.
“Obviously, there will be some positive effect on consumer spending. But this will be only modest.
“And one rate cut won’t be sufficient to turn a sombre Christmas into a boom.”
But Macquarie thinks the reduction in interest rates may have more of an effect on the housing market.
“Lower interest rates boost the purchasing power of potential homebuyers,” it says.
“This means that there are more potential buyers for any particular property.
“That will provide some support to home prices which have been consistently falling over 2011.
“Indeed, we think that falling house prices – by reducing household wealth – have been one of the factors contributing to the cautiousness of consumers over the past year.
“Alongside increased housing turnover and firmer prices, lower interest rates will also support construction activity.
“Again, those potential households that have deferred entering the housing market because of low affordability may now be emboldened to dip their toe into the market.”
Macquarie stresses that if people believe that the November rate hike is a one-off, it is more likely that they won’t change their behaviour and the economy won’t get a boost in the middle of 2012.
“Paradoxically, by suggesting that rates won’t be cut further, the RBA may increase the likelihood that they will need to fall further in 2012,” the Macquarie report notes.
<a href="/news">HIA and Westpac concur that more rate cuts are needed.</a>
 
 
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jchancellor-FAypfDUnLy

One rate cut not enough to help economy, but watch employment data: Macquarie

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{yoogallery src=[images/stories/november10gibney]}
Packed to the Rafters star Rebecca Gibney and her husband, artist Richard Bell, are selling the Clareville home (pictured above) they bought in 2009, with the couple simply not having time to turn it into their dream home. The family, who recently sold in Tasmania, are intent instead on finding a contemporary house in the Pittwater precinct north of Sydney.
“Due to increasingly busy schedules, we have decided not to renovate our home on the northern beaches,'' Gibney has told the local press on listing the property through Andrew Blake and Cathy Agosti from Andrew Blake Real Estate.
“It has been a real haven and we will miss the privacy and great views. We love the area,” Gibney says.
The four-bedroom house on a 948-square-metre block has views of Pittwater towards Ku-ring-gai Chase national park and is within walking distance of the beach and shops. It cost $1.22 million in 2009.
The couple’s renovation plans, which had been recently approved by Pittwater Council, included a new pool, enclosing the carport and first floor additions and had been projected to cost $414,000.
{yoogallery src=[images/stories/november9gibneytassie]}
Their four-bedroom Tamar Valley home, River Point House (pictured above) – which cost $650,000 in 2003 – was sold for $1.15 million in February 2011 having been listed with a $1.3 million price through Roberts Tamar agent Kerry Sanders in late 2009. It had been available as a $1,700 weekly holiday rental since it came with private beach, boat ramp and boathouse. The couple had paid $650,000 in 2003 for the 1981 house set on seven hectares on a bend of the Tamar River at Kayena, north of Launceston.
In 2007 Gibney shot to local and national attention after attending anti-pulp mill rallies in Launceston protesting against Gunns Limited's planned pulp mill on the Tamar River at Long Reach, some five kilometres downstream from Gibney's then home.
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Rebecca Gibney abandons her rafter additions due to packed schedule and lists Clareville home

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The 10 most populous regional council areas around Australia have broadly been characterised by weak housing market activity and slowing rates of population growth, according to recent data. It is important to note that the vast majority of regions throughout the country have experienced similar conditions, however they are more pronounced in these large regional markets.
As the first table shows, the majority of the 10 most populous regional council areas have recorded a slowing of population growth over the most recent 12 months:
Click to enlarge
<a title="Click to enlarge" rel="shadowbox" href="/images/stories/regionallarge1.gif"><img src="/images/stories/lawlessregional1.gif"></a>
The exceptions have been Wollongong and Newcastle where population growth has increased. This is likely the result of housing affordability constraints providing an incentive for residents of Sydney to purchase in these more affordable regions that are relatively close to the city.
Although regions such as the Gold Coast, Sunshine Coast and Cairns remain the fastest growing of these council areas, the slowdown has been extremely pronounced over recent years. This is reflective of the slowdown in sea change and tree change migration flows as well as weak tourism and retail markets which have translated to low demand for labour in many of these coastal locations.
Click to enlarge
<a title="Click to enlarge" rel="shadowbox" href="/images/stories/regionallarge2.gif"><img src="/images/stories/lawlessregional2.gif"></a>
Focusing on the detached housing market, all ten of the regions have recorded a decline in median prices over the most recent 12 months. Townsville has been the weakest market with median house prices falling -14.3% followed by Sunshine Coast (-8.2%) and Gold Coast (-6.5%). On the other hand, price falls have been relatively minor in Greater Geelong (-0.7%), Wollongong (-1.0%) and Newcastle (-1.6%).
For the unit market, the trends are actually quite different. Five of the regions have recorded a fall in median price over the past 12 months while the other five have recorded growth. The biggest median price falls were recorded in Cairns (-14.8%), Townsville (-10.2%) and Sunshine Coast (-7.8%). Price growth for units was strongest in: Greater Geelong (7.3%), Newcastle (3.7%) and Toowoomba (2.0%).
Click to enlarge
<a title="Click to enlarge" rel="shadowbox" href="/images/stories/regionallarge3.gif"><img src="/images/stories/lawlessregional3.gif"></a>
Advertised rental rates have increased across each region for houses over the past 12 months. The most significant increases have been recorded in: Wollongong (10.0%), Lake Macquarie (6.1%) and Newcastle (5.9%). For units, in the instances in which rents have increased, the growth has generally been more robust than the growth in house rents. In four out of the ten regions, all of which were in Queensland, rental growth has been either flat or has declined.
Other lead indicators such as the average time on market and average vendor discount have increased over the past 12 months in all 10 regions and across both houses and units. These results are consistent with a general slowdown in market activity which is characterised by a fall in median house and unit prices across most regions.
With median prices having fallen in most regions and in some instances rents having increased, given these conditions, for the most part indicative gross rental yields have increased over the past 12 months. The only exception has been houses within Greater Geelong where indicative gross rental yields have remained stable over the past 12 months.
Over the coming year, we don't anticipate the falls in median prices will be as significant as they have been over the past year in areas such as the Gold and Sunshine Coasts and Cairns, however there may be some further weakness.
With the rate of growth in capital city property prices stalling, some of the relatively more affordable markets close to these major cities such as Newcastle, Wollongong, Greater Geelong and Toowoomba may actually outperform their capital city counterparts. In stating this, we do not believe that any market is going to enjoy significant price growth over the next year.
Tim Lawless is head of research at <a target="_blank" href="https://www.rpdata.com/">RP Data</a>. 
This article originally appeared on <a href="https://www.smartcompany.com.au/" target="_blank">SmartCompany</a>.
 
 
 
 
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tlawless-5VLUrbAk9s

Regional housing prices stall: Tim Lawless

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Can I do the renovations myself?
You may decide you will be the one to complete or oversee the renovation. Doing the renovations yourself means you have complete control over timing, costs and scheduling as well as saving on labour costs along the way. It can be a great way to go if you have plenty of time, knowledge and skill.
However, if you haven’t renovated before there’s a good chance that you might underbudget the true costs and go well over time. Trying to learn on the job can be pretty tough and even though you can temporarily stop the job when you run out of money, it’s very hard to profit from renting or selling a half-finished property. It might even be worth less than what you bought it for.
My tip is to double your expected cost and double the time frame, and then work out if you’re still going to make a profit. Most of the time, it works out more efficient from a time, cost and stress perspective to outsource the renovation to the experts.
I once had a client who wanted me to buy him a property to renovate as a retirement project. When the time came to renovate, my client asked me to outsource big jobs like the kitchen and bathroom, as they’re best done by specialists who would do it in a fraction of the time.
We then agreed that tiled flooring was best left to an expert and built-in wardrobes left to a different specialist. Five minutes later, the only non-specialist job that he had a hope of completing himself was the painting.
What if I don’t want to do it myself?
If you’ve decided to put your renovation into the hands of the experts, finding a good team of tradespeople and other professionals can be the most challenging part of the job. They often have a different mentality and style of working to other relationships you have in your work roles, so it’s important to build a bond.
A great place to find good tradespeople and other professionals is through recommendations. Ask family, friends, real estate agents, mortgage brokers and buyers’ agents for referrals.
Recommendations from property investors who have completed a number of successful projects are especially valuable.
When dealing with any tradesperson, it’s important that you always ask for details of the insurances they hold and names and numbers of previous customers they’ve worked with. Make sure you actually check these referees to see if the work was carried out to their satisfaction. I often go and see projects that are midway through renovation, as well as ones that have been finished.
There’s also nothing to stop you asking for a guarantee: what penalty will they impose on themselves if they do not complete within a certain timeframe?
When you’ve found your team, the more you use them, the better they’ll work together, as you’ll build trust and learn to iron out little issues. If you’re doing a one-off project as an individual, finding a good team and building an instant relationship can be difficult, and in this instance it could pay to use a project manager.
What is the benefit of using a project manager to handle my renovations?
You may want to consider hiring a project manager to oversee your renovation project.
A good project manager can deal with everything from drawing plans, negotiating them through council and managing the renovation, through to ensuring the final finishes are complete. They can also take responsibility for the costings and timings, and hustle your contractors and tradespeople into gear if they appear to be lagging.
Hiring a project manager can prevent the arguments that tend to arise when you have a number of different parties all doing different pieces of the same job, by clarifying each person’s responsibility and when things need to be done.
The project manager can be anyone from a builder, interior designer or architect to a professional property investor/renovator. Ultimately, it needs to be someone who is experienced, trustworthy and has a team of reliable tradespeople.
Won’t a project manager be expensive?
A good project manager will charge 10% to 20% of the overall renovation cost, which is around $5,000 to $15,000 on a $50,000 to $75,000 project.
I’ve heard of many nightmare scenarios from clients who have struggled before coming to Empire, so I believe that hiring a project manager is well worth the investment.
Here are just a couple of the nightmare stories I’ve heard:
• “The builder didn’t turn up on the first day of the job. On the second day he reversed into the side of the building and put a hole into it. The strata managers and other owners weren’t impressed.”
• “I managed separate tradespeople to renovate the kitchen, bathroom, carpets, blinds, doors, painting, electrical and plumbing. There were so many people to manage and so many unforeseen glitches, and I learned one part of a job needed to be completed before another could start, so the project became a major headache. One person would blame another, no-one would take responsibility, and everyone took advantage of my inexperience. And the longer it took the more money it cost in mortgage payments and loss of rent. Never again!”
You might think you can save a fortune by managing the project yourself, but there are risks in managing a renovation alone.
Tradespeople will know if you’re not a renovating expert, and they may use your lack of experience to their advantage – in terms of costs, timelines and attention to detail.
A tiler might see you in your suit, for instance, and know instantly that you’re not used to dealing with tradespeople, and increase his price. And did you know that jobs can beq uoted at different prices in different suburbs?
You may also fall prey to unscrupulous tradespeople trying to secure a job and increase their prices. The tradesperson might tell you they’re ready to start on the bathroom even while they have a number of other jobs on the go. He might try to juggle all the jobs at once, starting a job on your property, leaving his tools and not coming back for four weeks until he’s ready to begin in earnest. Because your tradesperson has started, no one else will take on the job and you’re stuck waiting.
Unless you’re prepared to be on site every day to manage what’s going on, I recommend leaving project management to an expert. Weigh up the cost of your time away from work, the chances of being charged higher prices and the likelihood of the project taking twice as long.
A project manager who does renovations frequently can negotiate with tradespeople better than you, and has better buying power for trades. They should also be good at negotiating on costs, timelines and maintaining the quality of the work on your behalf.
How long should my renovations take?
A pre-planned kitchen and bathroom renovation should take four to six weeks. Many property investors who manage the projects themselves find this impossible because they fall into one of the most common traps: choosing tradespeople based on price alone.
I don’t often use the cheapest tradesperson. I choose those that can do the best job in the shortest amount of time. The cheapest will often do the job in their own time, but the faster the tradesperson, the quicker you will place tenants in the property.
You could pay $1,000 to get some students to paint your property, you could pay $2,000 to get a painter or you could pay $4,000 to get a master painter. There will be a guaranteed difference in the quality of the finish. Which one is right for you to use will depend on the type and quality of the property you’re renovating, your budget, and the potential benefits you’ll receive when a potential renter or buyer falls in love with your property.
What are the types of profits I can generate with a quality renovation?
The results can be seen in cold hard cash. On a typical project we might buy a two-bedroom unit for $600,000, invest around $75,000 into a four to six week renovation, and then get a valuation of around $700,000 to $720,000, generating a healthy $25,000 to $50,000 profit.
On a block of units we bought for $1.9 million, we renovated for $600,000 and four months later, the bank refinanced at $3.5 million – giving us a whopping $1 million profit in under four months.
On another job, we applied to council to add two penthouses to a block of units and the architect has managed to squeeze a second block of units in the back garden, and that’s in a prime position almost opposite the beach. At times, we’ve been overseeing a dozen renovations at one time and had teams of tradespeople working with a smile on their face, even through Christmas and New Year’s.
Delegating or outsourcing your work is a key ingredient to successful property investing. It took me my first few projects to build relationships, negotiate fair prices and balance our communication styles, but now a system has been built. I now receive a daily call from my project manager with an overview of what’s going on, any issues or decisions to be made and when they are due to be completed. I have so much confidence in my team that I only need to turn up on site when the job is completed.
My clients don’t receive any calls from tradespeople as everything is managed on their behalf. Instead, they prefer to receive a financial report before and after the renovation. This tells them how much money they’ve made. After all, it’s a financial decision, not an emotional one.
Top tips
There are a few quick and easy changes you can make to boost the price of your property with a low-fuss renovation:
• Clean – it’s amazing how a thorough clean increases the appeal of a home.
• Paint inside and out.
• Re-carpet or polish the floorboards.
• Tidy or landscape the garden.
• Change the light fittings, switches and sockets.
• Instead of a new kitchen, simply change the kitchen cupboard doors.
These further renovations are more expensive, but can increase the value of your home significantly:
• Replace the kitchen and bathroom – this is usually the best way of increasing a property’s value.
• Extend out the back or into the roof space.
• Convert the garage into a living space or bedroom.
• Build a carport.
• If you can, subdivide and add another residence or put a granny flat in the back garden – two incomes are always better than one.
Resources
For a handy renovations checklist, helpful information and other tips to keep your
project moving forward, visit “What’s the best way to renovate?” at yourempire.com.
au/in-the-media-journal.
Check with your local Fair Trading Office to see what licenses your tradespeople need,
and check that their license is still valid. You can find more details on the website for
your state office of fair trading:
• <a target="_blank" href="https://www.fairtrading.nsw.gov.au/default">fairtrading.nsw.gov.au</a>
• <a target="_blank" href="https://www.consumer.vic.gov.au/CA256EB5000644CE/HomePage?ReadForm&amp;1=Home~&amp;2=~&amp;3=~">consumer.vic.gov.au</a>
• <a target="_blank" href="https://www.fairtrading.qld.gov.au/">fairtrading.qld.gov.au</a>
• <a target="_blank" href="https://www.consumer.tas.gov.au/">consumer.tas.gov.au</a>
• <a target="_blank" href="https://ocba.sa.gov.au/">ocba.sa.gov.au</a>
• <a target="_blank" href="https://ors.act.gov.au/">ors.act.gov.au</a>
• <a target="_blank" href="https://commerce.wa.gov.au/index.htm">commerce.wa.gov.au/index.htm</a>
<a target="_blank" href="https://www.nt.gov.au/justice/consaffairs/index.shtml">nt.gov.au/justice/consaffairs/index.shtml</a>
Chris Gray is CEO of <a href="https://www.yourempire.com.au/" target="_blank">E</a><a href="https://www.yourempire.com.au/" title="Empire Property Portfolios" target="_blank">mpire Property Portfolios</a> and appeared on Channel Ten show The Renovators.
This is an excerpt from<a target="_blank" href="https://www.themessengergroup.com.au/shop/realestate/property-investing-the-australian-way-3/"> </a><a target="_blank" href="https://www.themessengergroup.com.au/shop/realestate/property-investing-the-australian-way-3/">Property Investing The Australian Way</a>, published by The Messenger Group.
For expert commentary and analysis on lessons to be learnt from property reality TV, <a href="https://register.propertyobserver.com.au/lights-camera-auction/" target="_blank">download our e-book Lights, Camera, Auction! </a>
 
 
 
 
 
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chrisgray-pn7di3ceFk

When you should turn your DIY reno project over to the professionals: Chris Gray

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Both Westpac and the Housing Industry Association believe further rate cuts are needed to stimulate new home lending following another “lacklustre” result in September. 
Housing finance to owner-occupiers increased by 2.2% September, but only 1% of this growth came from new mortgage lending with rest the result of borrowers refinancing their mortgages to take advantage of cheaper rates. 
The September result was slightly above market expectations (1.5%) but not as strong as that anticipated by Westpac, which had forecast mortgage growth of 3% over September. 
For the year to date, new lending is down by 3.8%. 
Westpac senior economist Andrew Hanlan says the RBA's November rate cut will provide some relief to the sector, with the bank sticking with its forecast of further 0.75% cut in rates still to come over the next 12 months. 
“New lending is only a little above that prevailing over the second half of the 1990s,” he says. 
Hanlan says the mix of finance was disappointing” from a new supply, construction perspective”. 
“Finance to owner-occupiers for the construction of new dwellings edged lower in the month, down 0.2%, to be 5.7% lower for the year to date,” he says.
HIA acting chief economist Andrew Harvey remains hopeful the fall in the number of loans for the construction or purchase of new homes is “merely a blip in an overall trajectory of a return to growth in new home lending”. 
“At least today’s fall in new home lending is not of an overly large magnitude, and once we see the positive impact of the Melbourne Cup day rate cut flow though we should see lending begin to gain ground. “Moreover, if the RBA fires up with a second rate cut in December, or at latest early 2012, which is warranted given domestic and global economic conditions, then the prospect of a return to decent levels of new home building is good,” he adds. 
 
“The sector faces a number of headwinds: interest rates, stretched affordability and household's desire to pay down debt. These factors are offsetting the positives of rising household incomes, relatively low unemployment and a shortage of housing stock.” 
By state, owner-occupier finance for the year to date reveals some divergences. 
There were signs of strength in WA, with mortgage lending to owner-occupiers up 9.1% over the nine months to September. 
However, NSW (1%) and South Australia (2.2%) are broadly flat for the year while mortgage lending has weakened in Queensland (down 9.5% for the year), Victoria (down 4%) and Tasmania (down 5%). 
Finance to investors was up 1.9% in the month, rebounding 8% since April, but still down 4.2% for the year to date. 
“While rents are strengthening, established house prices have tended to trend modestly lower since mid-2010,” says Hanlan.
<a target="_blank" href="https://www.propertyobserver.com.au/economy/one-rate-cut-not-enough-to-help-economy-but-watch-employment-data-macquarie/2011110952285">Macquarie Investment Management agrees that more rate cuts are needed.</a>
 
 
 
 
 
 
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More rate cuts needed following lacklustre mortgage lending figures: HIA

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Confidence among mortgage holders has soared following the November rate cut by the Reserve Bank, according to the Westpac Melbourne Institute Index of Consumer Sentiment, which improved in November.
Westpac chief economist Bill Evans says the significance of the rates decision is most apparent from the breakdown in responses among home owners.
“Confidence amongst those folks which have a mortgage soared by 13.9%; and people who own their house mortgage free boosted their confidence by 6%,” Evans notes.
“The Index is now indicating that optimists slightly outnumber pessimists for the first time since June 2011 and this is the highest reading for the Index since May 2011.
“However it is still 6.7% below its level last year.”
Evans recalls that the index fell by 5.3% in response to the rate hike in November last year.
He says the changes follow the same pattern as 2008, when the Reserve Bank cut rates for the first time in that cycle.
When the bank stopped threatening rate hikes sentiment grew 9.1% and when the cuts were delivered that year sentiment went up another 6.3%.
In the past week the Westpac Melbourne Institute Index of Consumer Sentiment increased by 6.3% in November from 97.2 in October to 103.4 in November.
Although sentiment towards housing improved by a solid 6.5% in November, sentiment towards purchasing a motor vehicle was down by 3%.
The Reserve Bank Board next meets on December 6.
“Our view has been that the easing cycle which has now begun is likely to be much more measured than the one we saw in 2008, when rates were slashed by 300bps over four consecutive meetings,” Evans says.
“Accordingly, we would expect the next move to be in February next year when the Bank has had time to assess the impact of the first move; more information is available about the global economy; and further evidence is available on inflation.
“However, our interpretation of the bank’s recent statement on monetary policy is that it is troubled by developments in Europe and, due to a more downbeat assessment of the domestic economy, sees clear room to cut further.
“Developments overseas, as we saw in 2008, have the potential to move the next cut forward to December but, for now, our call remains that the next move will be 25bps in February with a further 50bps in cuts over the course of 2012,” Evans says.
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Mortgage holder confidence soars following November rate cut: Westpac

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Prime office rents have continued their upward trajectory across Australia’s biggest CBD markets, bucking the slowdown occurring across the wider Asia Pacific region, according to analysis by CBRE. 
CBRE regional director for office services James Patterson says the lack of large and well-located premium floor space is continuing to support rents in Sydney and Melbourne while demand for resources companies is supporting growth in Perth and Brisbane. 
In Sydney, the core CBD market was the only precinct to achieve rental growth in the third quarter, with the largest deal over this period the re-signing and expansion of Deloitte’s commitment to lease 28,000 square metres of space at Grosvenor Place at 225 George Street. 
The bulk of the remaining activity involved smaller deals. 
Rental growth was stagnant in Melbourne over the quarter as occupiers delayed decisions due to the global economic volatility. However, minimal supply in the CBD is expected to drive continued growth in rents in 2012 as only 6% of the new stock due to be completed in 2012 is not pre-committed. 
Brisbane’s CBD office market continues to be driven by demand from companies directly or indirectly linked to the resources sector, with strong positive net absorption in the Brisbane CBD recorded over the third quarter. 
CBRE expects occupier demand to drive continued prime rental growth in the CBD despite new stock completions in 2012. 
“Vacancy in the Pacific declined more rapidly during the third quarter than had been expected,” Patterson says. 
“Vacancy in prime buildings is exceptionally low across all markets and this trend is likely to persist over the remainder of 2011 given that the new supply due to come on stream has mostly been pre-let.” 
The strong performance of Australian and the Pacific region is in contrast to the wider Asia Pacific region, where office rental growth has slowed in most markets due to the uncertain global economic outlook.
The CBRE Asia Pacific Office Rent Index increased by 2.2% quarter-on-quarter in the third quarter of 2011, but this was the lowest rate of growth recorded in 12 months.
In addition to Australia, China was one of the few office markets to generate  strong expansionary demand, with Beijing and Guangzhou enjoying quarter-on-quarter rental growth of 8.8% and 7.8% respectively. 
In the Pacific region, rental growth slowed to 0.8% over the September quarter from 4.2% year-on-year. 
Region-wide, CBRE head of research for Asia Pacific Nick Axford says the short-term outlook for the office sector remains positive, despite the instability in regional stock markets and the worsening economic situation in the United States and Eurozone. 
“Rental growth is likely to continue to moderate slightly in the months ahead as the external economic volatility will continue to weigh on business sentiment in the region going forward,” he says. 
“Occupier demand should remain firm in greater China markets on the back of robust demand particularly from domestic companies. However, externally oriented markets such as Hong Kong and Singapore will be particularly vulnerable to further disorder in the global economy.”
 
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Australian CBD office markets outpace their Asian neighbours: CBRE

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An 1870s Surry Hills residential warehouse – last traded in 2005 – has been listed for November 19 auction.

It was once a stable and coachworks and of recent times has had an interesting group of owners.

It’s been listed by the Domabyl family, who paid $3.2 million in 2005.

Its joins the recent production line of bulky inner-city warehouse conversions that have been offered for sale.

Many appear stuck on the market for lengthy periods of time. Several of the warehouse conversions have asking prices either going stale or being slashed.

They have traditionally been considered hot property, but the industrial conversions appeal to entrepreneurial types who don’t seem to have the same deep pockets as in the past.

<img src="/images/stories/warehouse_0000_bourke%20st.jpg.jpg">

Bresic Whitney listing agent Shannan Whitney expects more than $4 million for the three-bedroom <a href="https://www.realestate.com.au/property-house-nsw-surry+hills-108398881" target="_blank">Little Bourke Street, Surry Hills</a> warehouse (pictured above) that has room for seven cars and includes a photography studio. His pricing is based on a recent nearby $4 million plus sale.

The Little Bourke Street warehouse listing fetched $1.105 million in 1989 when bought by the antique dealer Joan Bowers from Kings Cross identity Catherine O'Malley.

Bowers’ purchase was reportedly backed by Lord Alistair McAlpine whose then wife, Romilly, was in business with Bowers.

Bowers sold to Jennette Miller of Wahroonga for $1 million in 1993 through estate agent Margaret Blok. It next sold to the Domabyl family, who’ve put it on the market this month through Bresic Whitney.

<img src="/images/stories/warehouse_0003_oconnell.jpg.jpg">

Across town in Newtown, the 1920s<a href="https://www.realestate.com.au/property-house-nsw-newtown-107307549" target="_blank"> O'Connell Street warehouse</a> (pictured above) best known for its prior ownership by broadcaster Alan Jones remains listed for sale. The five-bedroom former Champion Textiles warehouse passed in at a May auction on a $3.7 million vendor’s bid. It’s still listed through Michael Harris at Raine and Horne Newtown.

Jones sold it in 2003 for $2.9 million to the current vendors, hotelier and former Newtown rugby league player Steve Bowden. The five-bedroom home came with space for a boxing ring used by boxer Danny Green. It’s also been a studio of the fashion designer Dion Lee.

<img src="/images/stories/warehouse_0005_sloane.jpg.jpg">

Still in Newtown there’s a <a href="https://www.realestate.com.au/property-house-nsw-newtown-108503221" target="_blank">Sloane Street warehouse listing</a> (pictured above). It was last sold in 1996 for $520,000 by ABC 7 o’clock news anchor Richard Morecroft, who converted the property. Film producer Matt Carroll is the current owner, and he’s had it on the market with an asking price of $2.35 million. It’s a  two-level, 218-square-metre space listed through Eric Lundberg from DB Property in Surry Hills. The similar adjoining property with 259 square metres of space went for $2.25 million in 2008.

<img src="/images/stories/warehouse_0006_sloane2.jpg.jpg">

A few doors up is another <a href="https://www.realestate.com.au/property-terrace-nsw-newtown-108499966" target="_blank">Sloane Street property</a> (pictured above) that has been on the market since May. The last reported sale of the unrenovated property was in 1984, when it sold for $115,000. It’s listed through Ian McPhee from Belle Property.

<img src="/images/stories/warehouse_0004_probert.jpg.jpg">

At Camperdown a <a href="https://www.realestate.com.au/property-studio-nsw-camperdown-106859765" target="_blank">Probert Street warehouse</a> (pictured above) with a commercial occupancy has been on the market since late 2007 through three real estate companies. It comes with an asking price of $2.6 million. It last changed hands in 1997 for $645,000. It’s set up as a live-in showroom but can be used as a two-bedroom abode. It’s listed through Joseph Gambino from The Edge Property Agency in Darlinghurst.

<img src="/images/stories/warehouse_0002_mclaughlin.jpg.jpg">

There is a Paddington conversion (pictured above) listed that last sold in February 2010 for $1.341 million and has been on the market since then. Before that the  <a href="https://www.realestate.com.au/property-house-nsw-paddington-107316144" target="_blank">McLaughlan Place property</a> sold for $1.25 million in 2008 when Aboriginal art dealers Hogarth Galleries sold up and moved out. Hogarth originally bought it in 1993 for $265,000. It’s listed through Darren Pearce from Bresic Whitney.

<img src="/images/stories/warehouse_007_abercrombie.jpg">

The owners of a <a href="https://www.realestate.com.au/property-house-nsw-chippendale-108473901" target="_blank">Chippendale unrenovated warehouse </a>(pictured above)  have been trying to lease their property since May this year. The Abercrombie Street property has five bedrooms and just the one bathroom. It’s currently being listed for sale through Adam Bodon from Deans Property in Broadway.

For warehouse conversions in Melbourne, <a href="https://www.propertyobserver.com.au/residential/port-melbourne-tops-list-of-five-special-residential-warehouse-offerings-in-melbourne/2011110952293" target="_blank">click here</a>.

<h2>Take a look at our latest Sydney listings:</h2>

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Seven residential warehouse offerings in Sydney

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Recently there have been protests around the world against the richest "1%".

The protesters say they are opposed to "the fundamental inequality in society – social, economic, ecological – and want to change the ways that our society is structured and run so that way, the vast majority of people – the 99% – have their interests accounted for, their voices heard, their needs represented".
As many of these protestors claim our society is run for and by "the 1%", I found it interesting that recently the Australian Financial Reviewassessed what it takes to join this exclusive club.
And by the time I finish explaining how to get in the rich 1% club, you may find you're already in it. But I'm getting ahead of myself...
Apparently it takes assets of $11.2 million to be among the richest 1% of Australia's 8.4 million households.
The top 1% has a lazy $1.07 million kicking around in cash or it's equivalent according to the Australian Financial Review. That compares with just less than $120,000 for the top 20% of households.
The average value of cars owned by the top 1% is $84,000; compared with $32,000 for the top 20%. And their financial security is covered by $1.4 million in superannuation, more than double the super held by the wealthiest 20%.
Those who make it in the top 1% of rich people tend to have extensive share portfolios, worth $450,000 and have a business valued at an average price of $3 million.
This is in line with the Merrill Lynch Cap Gemini report of <a href="https://www.capgemini.com/services-and-solutions/by-industry/financial-services/solutions/wealth/worldwealthreport/">High Net Worth Individuals</a><a href="https://www.capgemini.com/services-and-solutions/by-industry/financial-services/solutions/wealth/worldwealthreport/"></a> that found 80% of this club made their wealth through business.
But that doesn't mean that the wealthiest Australians don't like property – they do and they are among the keenest property owners in the world.
If you are in one of those 84,000 households that make up the 1%, you are likely to live in a house worth on average $1.9 million and own other property holdings worth over $3 million.
Now clearly there is a wide gap between the top 1% and the average Australian and figures from the Australian Bureau of Statistics show that Australia's richest households are expanding their wealth three times faster than the poorest groups, and many are using <a href="https://www.smartcompany.com.au/property-investor/20111102-the-rich-are-getting-richer-through-real-estate">property to leverage their wealth</a>.
<h3>Another perspective</h3>
No one's hardship should be belittled. Becoming unemployed or not being able to keep up your mortgage payments aren't just financial problems. They're social and emotional problems that strike at your sense of worth.
But things always need to be kept in perspective. Some really interesting numbers emerge when you expand your view and look at the richest 1% in the entire world.
It's no secret that Australia is among the richest nations on Earth, so how much do you need to earn to be among the top 1% of the world?
According to an article by Morgan Housel in <a href="https://www.fool.com/investing/general/2011/10/28/attention-protestors-youre-probably-part-of-the-1-.aspx">Motley Fool</a> the answer is US$34,000.
This article explains that in his book The Haves and the Have-Nots, World Bank economist Branko Milanovic shares that to be in the top half of the globe, you need to earn just $1,225 a year.
To be included in the top 20% of income earners in the world all you need is a salary of US$5,000 per year. To be the top 10% you would need to earn US $12,000 a year. And to be included in the top 0.1% requires an annual income of US $70,000.
Dig even deeper and the figures become inconceivable.
According to the UN, "Nearly half the world's population, 2.8 billion people, earn less than $2 a day." According to the World Bank, 95% of those living in the developing world earn less than $10 a day.
When you consider the context of the entire world, it means that the Australians we consider poor are among some of the world's richest people.
In short, most of those occupying Wall Street or Melbourne or Sydney would be considered extraordinarily wealthy by much of the world.
Many of those protesting the 1% are, in fact, the 1%.
<h3>Anyone can join the 1% club</h3>
But the protestors in Australia should remember that we live in the best country in the world. A country of opportunity where virtually anyone can make it into the BRW Rich 200 list. Clearly that's just not possible in many other parts of the world.
Just look at this year's Rich 200 List...
While 17% inherited some of their fortune, most were self-made successes, some coming from working-class backgrounds.
And there's no use complaining about the school you went to, because attending a private school and having an elite education is clearly not a prerequisite to joining Australia's wealthy. While some forged important networks at school, many went to public schools and others didn't even finish high school. In fact, less than half of those in the Rich 200 list have tertiary qualifications.
<h3>And don't say it's too late...</h3>
You're never too young and you're never too old. The youngest member of this year's BRW Rich 200 is aged 35 and has an estimated wealth of $1.01 billion, which is even more than the oldest member who at the age of 92 has accumulated $289 million.
<h3>Some final thoughts.</h3>
Just to make things clear... before I receive a flood of negative comments – this blog isn't to belittle the protestors' message. I see merits in some of the Occupy protestors' arguments.
And I'm definitely not against protesting – I grew up in the age of protests against the Vietnam War.
Needless to say I can understand why people would be upset when many of top 1% are perceived to have earned their income unjustifiably. Being paid by big corporations that in some cases have been run into the ground and then been bailed out by their governments doesn't sound right.
Nor does a tax system where the wealthy seem to avoid tax and the poor seem to pay a disproportionate amount.
It's hard to argue with that logic.
Remember... I'm not having a go at the protestors. I'm just offering another perspective and reminding them that even though our system has lots of faults, it has created more prosperity, even for the lowest 1%, than most of the world can comprehend.
Michael Yardney is the director of <a href="https://www.metropole.com.au/">Metropole Property Investment Strategists</a> , a best-selling author and one of Australia's leading experts in wealth creation through property. He also writes the <a href="https://www.propertyupdate.com.au/">Property Investment Update</a> blog.
 
 
 
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The Rich List shows anyone can join the 1% club

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The strongest-performing Westfield tenants over the past three months have been the mini-major outlets (Dick Smith, JB Hi Fi, Priceline, etc), which recorded a 3.1% increase in sales over the quarter.
Despite sales falling 1.4% in the third quarter they are still 1.1% up on the year with speciality store rents increasing by 3.8% over the 12 months to September.
Westfield CEO Steven Lowy told an analyst briefing that for the nine months to September, new leases in Australia were signed at rents 1% higher than expiring rent, “a solid result in this environment”.
“Earlier in the year, some high profile administration occurred, including Borders, Angus and Robertson in Colorado, where around 80 stores closed. In a matter of months, almost all of these lease-up is now complete. This clearly highlights the strength of our portfolio and the underlying demand for space,” he added.
In the speciality store category, general retailers (Rebel Sport, Cotton On, General Pants) were the strongest performers, recording sales growth of 3.1% for the quarter to be up 4.5% over the last 12 months.
Once again, shops targeting more affluent shoppers such as speciality fashion stores and jewellery stores had poor quarters with sales falling 4.7% and 3.5% respectively. Footwear stores recorded a 2.6% decline over the quarter.
Over the last 12 months to September Westfield’s fashion store tenants have recorded a 2.2% shrinkage in sales revenue.
Homeware stores recorded the poorest turnover growth among the speciality stores, with sales down 5.3% for the quarter.
Department stores (Myer, David Jones, Target), which anchor many Westfield centres, continue to be the worst performing Westfield tenants, with sales down 12.5% over the three months to September and down 7.5% over the last 12 months.
Discount department store (Big W, K-mart) sales also fell over the quarter to be down 4.1% but are down only 2.7% for the year to September.
Coles and Woolworths along with other supermarket tenants recorded moderate growth of 1% but are up a relatively healthy 2.5% over the last 12 months.
Westfield’s cinema multiplex tenants have made a strong comeback in the three months to September 30, recording the third-highest sales growth of all tenant categories.
Cinema sales are down 6.5% for the year but have made a solid comeback in the third quarter, with growth of 2.1%, nearly double the retail sales growth of the group as a whole of 1.1%.
This improvement follows the release of six-month results in August for Westfield, which showed cinemas sales had fallen <a href="https://www.propertyobserver.com.au/news/westfield-cinemas-struggling-perhaps-due-to-pricey-popcorn/2011081751194">8.7% across Westfield’s Australian business.</a>
The performance of Westfield’s cinema tenants over the three-month period is in sharp contrast to cinema operators in shopping centres owned and managed by GPT, <a href="https://www.propertyobserver.com.au/retail/poor-performance-of-cinemas-and-department-stores-hurt-gpt-s-bottom-line/2011102752099">which recorded a 9.3% drop in turnover over the same period.</a>
The release of Westfield’s fourth-quarter update in February 2012 should provide an indication of whether the recovery is a longer-term trend.
 
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