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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For those who think that building grants or first-home buyer boosts are the answer to our undersupply of housing, you had best think again.  We are already halfway through the six-month Queensland “building blitz”, in which Queensland Labor was going to help facilitate up to 14,000 new housing starts across the state with its $10,000 Building Boost.
As at October 26, only 1,113 building boost applications have been received by the Queensland government and just 379  (yes 379) boosts have been approved – $3.8 million worth of support, costing an estimated $660,000 to advertise and promote the campaign.
Now, to be fair, the take-up is on the rise, but whether or not it is a hockey-stick style graph is debatable.   To quote Queensland Treasurer Andrew Fraser from Hansard on the 27th of last month – “I can advise the House that as of yesterday the number of applications is now 1,113.  In fact, the number approved is 379, but I want to make this point: as at 30 September, just a few weeks ago, it was 569.  In the week after that it jumped to 698.  In the week after that it jumped to 843 and in the week after that it jumped to 992.  So we do see the hockey stick approach to the graph at the moment.”
Yet, despite such reassurances, the 1,000-odd boost applications represent just a 4% increase on last year’s building approval across the state – which was just 27,500 starts – a 10-year low.  The real result – being 379 approvals – is a measly 1.3% lift in new dwelling activity.
Now maybe there are many more buyers waiting in the wings.  I hope so, but maybe, as we suggested, a 2% reduction in the asking price of a new property just doesn’t cut it.
The increase – as outlined by Fraser above – appears to be steady at around 150 new applications by per week.  So by the end of January – and assuming interest doesn’t sag during the Christmas holidays (a big ask!) – a total 3,000 applications would have been received.  Not a great result, given the 14,000 target, if you ask me.
Now we have some in the development industry calling for the boost to be extended.   Well, I will let Albert Einstein reply on my behalf.  “The definition of stupidity is doing the same thing over and over again and expecting different results.”
Assuming that the $140 million set aside by the Queensland government for this six-month blitz isn’t used up (which is extremely unlikely), and also assuming that Queensland Labor really wants to help the new housing industry, how best should they spend this “windfall”?
The answer is simple – remove stamp duty from off-the-plan transactions.  The impact – as shown in both Victoria and more recently New South Wales – should be immediate and very positive.
We have just completed work on this for the Property Council of Australia; and while we are embargoed from releasing the key findings for the time being, we can say that removing stamp duty from off-the-plan sales is likely to increase new housing starts across the state by between 10% and 15% per annum.  Yes, every year!
There is also local evidence that paying a buyer’s stamp duty works much better than the boost.  Some of the larger developers – who are supportive of the $10,000 handout – have been making sales because they have used this government largesse as cover as they offer – often quietly – to pay a buyer’s stamp duty.
Queensland needs a competitive advantage.  Our main competition is New South Wales and Victoria.  Dropping stamp duty for off-the-plan purchasers gets us back to a more level playing field.
It is a step in the right direction.
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>.
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Reducing stamp duty, not boosting building, the key to solving housing crisis: Michael Matusik

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Steven Lowy is well-pleased with the performance of Westfield Group, which yesterday confirmed its full-year earnings <a target="_blank" href="https://www.businessspectator.com.au/bs.nsf/Article/Westfield-confirms-full-year-guidance-NDTQZ?OpenDocument">guidance</a>. Westfield’s Australian tenants, however, probably aren’t quite as happy with their experience over that period. 
Westfield’s Australasian centres are virtually fully leased and the average specialty store rent in those centres for the nine months to the end of September was up 3.8%. 
The tenant experience, however, wasn’t as positive. Sales generated by Westfield’s major retailers are down 2% on the same nine months last year and are deteriorating – they were down 3.8% in the September quarter. 
The ‘mini majors’ in the group’s centres fared somewhat better, with sales down one per cent against the nine months to end-September last year but up 3.2 per cent in the latest quarter. Specialty stores are up 1.1% for the year to date but down 1.4 per cent in the September quarter.
Overall, the turnover in its centres is down 0.5% on the same nine months last year and 1.7% in the latest quarter.
That’s with the broader picture of a volatile and deteriorating retail sector where the department stores – full service in particular but discount department stores as well – are being hit hardest and where specialist fashion, footwear and homewares stores are being impacted by the deep conservatism of consumers who have savings but won’t spend them.
With sales falling and occupancy costs continuing to edge up it is little wonder the retailers are squealing, although they will all be hoping and praying that the Reserve Bank’s reduction in official rates and the consequent cuts to home loan rates provides some stimulus. It is an open question as to whether households will spend or save the reductions in their borrowing costs.
The disconnect between Westfield’s experience and that of its tenants isn’t a new phenomenon. The appeal, and concentrated ownership, of the major retail centres has given the centre owners pricing power and they use it to raise rents year in and year out regardless of the external circumstances.
In the longer term that power might be undermined to some extent by the rise and rise of online shopping, which can only be made more competitive if the core of the cost base of bricks and mortar retailers (Australia retail centre rents are among the most expensive in the world) continues to be forced up.
In the near term, for every specialty retailer who quits a centre there is a queue of hopefuls wanting to enter it. Westfield’s Australasian centres are more than 99.5% leased. In the longer term, online retailing might be a viable alternative to the prospect of ever-rising rents.
This article originally appeared on <a href="https://www.businessspectator.com.au/bs.nsf/Article/Lowy-Westfield-sales-retail-rent-interest-rates-sh-pd20111108-NE3JF?OpenDocument&amp;src=sph" target="_blank">Business Spectator</a>.
 
 
 
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Tenant blues won't hurt Westfield

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The City of Melbourne council has defended its record of supporting retailers, despite ongoing fears of CBD small businesses being overlooked by consumers in favour of large suburban shopping centres. 

A new marketing group, The Melbourne District Central Network, was launched last month by Melbourne Lord Mayor Robert Doyle and Kristina Karlsson, founder of stationery line kikki.K. 
MDCN president Greg Robinson says city-based businesses are being challenged by the growth of “out of town super-sized shopping centres” in addition to the current retail climate. 
“We aim to bring the focus firmly back on the CBD... by showcasing the many things that Melbourne has to offer,” Robinson says. 
The network will act as a hub, providing businesses with mentoring and education, information and networking opportunities as well as supporting and promoting city council initiatives. 
According to a council spokesperson, the City of Melbourne is overseeing a range of large-scale projects to improve the walkability of the city, namely around Swanston Street. 
“The Swanston Street Redevelopment Project will increase the flow of pedestrian traffic to the central part of the city. This project will make it more attractive for public transport users and businesses,” the spokesperson says. 
“The City of Melbourne launched the Great Melbourne Treasure Hunt in February this year to attract shoppers to the CBD during what is a traditionally quieter time.” 
“It also ran the Look.Stop.Shop. initiative for the second time, during the State of Design festival, to celebrate the in-store retail experience.” 
The spokesperson says it is the availability of space – rather than the cost of space – that stops small businesses from operating in the city. 
“There may be businesses that collaborate on a specific project that may only require space for a specified period of time and then disband,” she says. 
“Spaces like these are cropping up in the city and the council has supported some in the past.” 
StartupSmart has outlined some of the initiatives of other city councils to boost CBD retailers: 
<h2>City of Sydney</h2>
Small Bars is designed to reactivate certain parts of the city, and provide an improved mix of venues, via a laneway capital works program, precinct planning and the creation of tenancies. 
Smart Green Business helps SMEs save money and improve their environmental performance, while CitySwitch Green Office helps office building tenants improve their energy use. 
Business crime prevention forums are designed to help business owners minimise crime in and around their workplace, including shoplifting, fraud, robbery, assault and credit card crime. 
<h2>Brisbane City Council</h2>
In the aftermath of the floods, transport became a major issue in the city, so the council has focused on improving its services. 
Brisbane’s CityCat and ferry network is now fully restored, with all terminals operating seven days a week, including a new CityCat launched at the West End terminal earlier this month. 
The entire CityCat fleet is fitted with WiFi, enabling businesspeople to stay connected and serving as an added incentive to visit the city. 
Meanwhile, Brisbane Marketing works closely with the council to manage the marketing and activation of the Queen Street Mall – and increasingly the surrounding central business district – as the state’s premier retail destination. 
<h2>City of Perth</h2>
The council works closely with city retailers on issues such as preferred Sunday shopping hours (still a contentious issue in WA), deregulation and exemptions to trade on public holidays. 
The Raising Retail Series is a new initiative that will present city businesses with marketing updates, business development tips and network opportunities on a quarterly basis.
Spacemarket is an online interface for the exchange of floor space across central Perth. It seeks to stimulate under-utilised spaces by pairing non-tenanted spaces with people who have a desire to use them. 
The council’s Laneway Strategy aims to improve the contribution of laneways to the city in order to enhance each space and celebrate each laneway’s distinctive environment. 
<h2>Adelaide City Council</h2>
A key component of the council’s Strategic Directions is a significant increase in its investment in capital works, with major upgrades planned for city streets, squares and public places. 
The council is also working with the state government on a new extension to the tram network, while improved pedestrian access is another major focus. 
The council has also launched the Main Street Building Improvement Scheme, which provides financial incentives to support commercial property owners interested in restoring old buildings.
This article originally appeared on <a target="_blank" href="https://www.propertyobserver.com.au/https://www.startupsmart.com.au/growth/city-of-melbourne-defends-retail-assistance-efforts/201110124163">StartupSmart</a>
Photo courtesy of Tourism Victoria.
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City of Melbourne defends retail assistance efforts

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A record 1 million weekly visitors attended the opening of Westfield London's latest store - Westfield Stratford City, <a target="_blank" href="https://www.propertyobserver.com.au/retail/one-million-weekly-london-shoppers-buoy-westfield/2011110852254">which helped buoy Westfield's results. </a>
Not quite as many turned up this week when Justin Bieber gripped Westfield Stratford City when he switched on the centre's Christmas lights.
<img src="/images/stories/westfield3.jpg">
He had performed the same task earlier at Westfield’s Mall at Shepherd’s Bush.
<img src="/images/stories/westfield4.jpg">
 
{yoogallery src=[images/stories/nov8stratford]}
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Westfield Stratford City: What the million saw

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Developers are optimistic about demand for new housing on the Gold Coast picking up over the next 12 months despite another lacklustre quarter.
Currently only two projects are selling more than eight lots per month, however 12 projects aim to sell at that rate next year, according to the latest Prodap report, a regular survey of over 150 active developers operating on the Gold Coast.
The projects to achieve sales of more than eight lots per month over the September quarter were Delfin Lend Lease’s Woodlands development at Waterford, which recorded 38, sales and Stockland’s Highland Reserve project in Upper Coomera, which recorded 25 sales.
One of the historically best-performing estates, The Observatory at Reedy Creek being developed by Stockland, recorded only 10 sales in the quarter, with plenty of stock remaining.
However a “surprisingly high number of developers expect to produce in excess of 100 lots over the next 12 months. This reflects an average sales rate of eight per month per project”.
The pick-up in residential land development is expected despite there being over 1,300 lots available for sale on the Gold Coast representing about 13 months’ worth of supply.
<a title="Click to enlarge" rel="shadowbox" href="/images/stories/gcchartlarge.gif"><img src="/images/stories/gcchart.gif"></a>
Click to enlarge
Developers expect to increase their supply of new lots over the next 12 months ending September 2012 to be equivalent to two and a half years of supply at the current take up rate.
“Perhaps the developers are anticipating a revival of sales, or perhaps they are just being optimistic about their own particular project,” says<a target="_blank" href="https://www.propertyobserver.com.au/leisure/queensland-tourism-industry-needs-government-help-midwood/2011100551817"> Bill Morris, author of the report</a>.
This rate of new development could be even higher if the Commonwealth Games bid is successful. The successful bidder will be announced on November 11.
“A Gold Coast win will have a huge impact on employment over the next six years, with a budget of $2 billion allocated by the state government for new facilities,” says Morris.
“The core of these facilities will be a competitors' village to house an estimated 5,000 competitors in studio apartments.
“The site for the village is to be at Parkwood on the existing trotting and greyhound club land.”
Currently though sales continue to wallow at record lows, stock levels are not oversupplied even at the low sales level, and packaged housing production is low, putting upward pressure on rents.
Low sales levels are attributed to low interstate migration into Queensland ( less than 10,000 per year), which is affecting the demand for Gold Coast housing generally.
The suburb of Upper Coomera, where Coomera Waters is being developed by Austcorp, achieved the greatest number of land sales over the quarter at 68 while Pimpama recorded the highest number of house and land package sales with 17.
For advice on buying off the plan, download our free e-book.
 
 
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Gold Coast developers optimistic, despite slow sales

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A not-quite-knockdown five-bedroom Mona Vale beachfront house has been sold for $3.28 million.
The sale of the 808-square-metre Surfview Road holding was at Raine &amp; Horne auction where it was announced on the market at $3,225,000. Its selling agents Glenn Lee and Rebecca Lee noted that, with six registered bidders, the vendor had met the market.
It is understood to have been sold to a family who will use the property as a holiday home.
There had been $5 million hopes for it went to initial auction in October 2010 by H. Lindsay Thompson, a retired professor who was president of the AMA from 1982 to 1985, who bought the beachfront three decades ago.
<img src="/images/stories/monavaleaeria.jpg">
Just a few doors along,<a href="https://www.propertyobserver.com.au/new-south-wales/max-delmege-s-sydney-northern-beaches-property-finally-gets-over-the-line/2011102652087" target="_blank"> the resort-like Mona Vale beachfront residence of the veteran property developer Max Delmege and his wife, Narelle, sold earlier this month for a reputed $3.5 million</a>. Peninsula rumours suggest it may have been a tad less, but there’s no confirmation from the selling agents.
It was on its third mortgagee auction marketing campaign.
The house had been listed with $7 million-plus hopes on the same weekend in October 2010.
The two-level house sit on an 870-square-metre block which is surrounded by two apartment blocks.
Delmege, who bought the holding for $750,000 in 1994, rebuilt the house in 2009, after which he noted it secured a $9 million valuation.
Delmege's holding is surrounded by two apartment blocks, unlike the Thompson property, which has three delightful tall pines overlooking its grounds. 
The Thompson listing reflected $4,059 per square metre, compared with the Delmege sale at $4,022 per square metre.
There are no available guides to the Delmege construction costs, but estimates were around $1.4 million.
The Thompson listing represented a 34% discount on initial hopes in October last year.
The Delmege listing represented a 50% discount on initial hopes and a 60% discount on 2009 valuation.
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Land prices find their footing on Mona Vale beachfront

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Buoyed by an impressive 17% jump in annualised Westfield London retail sales – and a record 1 million weekly visits –international shopping centre owner Westfield Group has confirmed its earnings forecast for the year to December.
Noting its global portfolio was performing strongly and sales of its non-core US malls were progressing, it has reaffirmed its forecast for a distribution per security of 48.4¢ and operational segment earnings of 74.6¢ per security.
Shares in the company have dropped nearly 20% this year, compared with a fall of 10% in the benchmark S&amp;P/ASX 200 index as Westfield works its way through the challenging international retailing environment.
But Westfield notes demand for space remains solid especially in Australia, with a number of global retailers looking to tap into the market, although it recorded just 1.1% growth in specialty retail sales.
Occupancy remains above 99.5% in its Australian centres.
"Our job right now is not only to release the existing centres but to make space," Westfield co-chief executive officer Steven Lowy told a conference call for analysts and media as reported on Reuters.
With the non-core asset sale listings in the United States, Westfield said it was in negotiations with four to five parties to sell its US non-core shopping centre assets. There was 5.9% retail sales growth in its US stores.
"I do think the environment is in a position at the moment where those assets can get funded," noted Peter Lowy, another chief executive officer for Westfield.
"There is a quite a lot of money sitting around in bank balance sheets waiting to be deployed."
While some of Westfield’s peers have started share buybacks in hopes to lift their share prices, Peter Lowy says it's unlikely that Westfield would follow suit.
"Our preference as a company to invest in our products and increase the business, and increase return on equity by developing and growing the business," he adds.
“This was an exciting and active quarter for Westfield, with the immensely successful opening of our Stratford City project adjacent to the site of the London 2012 Olympics, together with concluding the £1.75 billion joint venture of the centre,” the Westfield press release noted.
“We are very proud of what we have achieved at Stratford City.
“This world-class shopping centre was delivered on time, on budget and over 95% leased at opening.
“More than 6.5 million customer visits have occurred in the eight weeks since opening, including over 1 million visits in the centre’s first week, a record for our company.” 
<a href="https://www.propertyobserver.com.au/retail/westfield-stratford-city-what-the-million-saw/2011110852259" target="_blank">The million Westfield customers encountered quite a sight.</a>
The group was also active in investing capital into high return opportunities during the quarter.
“Importantly, we announced the expansion of our business franchise into new markets including Brazil and the acquisition of a strategic development site in Milan, which we believe is the best major retail development site in continental Europe,” Steven Lowy says.
During the quarter, WDC reached an in-principle agreement on the US$1.3 billion joint venture of the retail premises at the World Trade Center in New York.
WDC also recently announced the sale of a half share interest in Cairns Central, Queensland for $261 million at a cap rate of 5.2%, representing a $35 million, or 16%, premium to book value.
It was the huge new Westfield mall in Stratford that smashed all records in its first week by attracting more than 1 million shoppers.
More than 6.5 million people have visited the Westfield Stratford City shopping centre in east London since it opened on September 13.
 
 
 
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One million weekly London shoppers buoy Westfield

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The traditional mid-spring surge in property listings didn’t happen this year in Melbourne, with October listings increasing only 3.3% from September.
Melbourne’s listings increased from 49,613 to 51,265 in October, according to a report from property research group SQM Research.
In Sydney the number of listings increased by a muted 2% (to 35,682), and listings were up just 0.4% across Australia.
Listings were down in three capital cities, with Brisbane down 3.4% to 30,249, Perth down 2.5% to 20,000 and Darwin down 2% to 1583.
Perth was the only city to report a drop in annualised listings from October 2010.
“This might actually be the peak in stock levels for this cycle,” SQM managing director Louis Christopher says.
“I note that Perth is now recording falling listings and Brisbane is now recording signs of stock numbers peaking.
“I suspect Sydney may record a peak this month as well.”
“The Melbourne results are deeply concerning, particularly in light of the fact that we know there is still much dwelling construction yet to be completed,” Christopher adds, repeating his concerns from September's figures.
Hobart was the only city with significant increases in property listings in Australia and had an increase of 20% over September figures, to 4316 listings.
“That seems to be consistent with some of the house price falls recorded in the September quarter for [Hobart],” Christopher says.
Canberra’s new listed property went up 7.3% in the month to 1,995 and Adelaide's rose 8% to 17,948 in October.
The report did show a 14.5% national increase in October listings from 2010 but this a modest increase when compared with other months this year.
Homes offered for sale climbed to 383,217 in October from 334,575 a year ago, the Sydney-based research group says.
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No October listings surge except in Hobart and Adelaide

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British fashion label Paul Smith will be opening its first stand-alone store in Australia in mid-2012 on Collins Street, Melbourne.
It will be located at the Paris end in Investa Property Group's heritage-listed building at 120 Collins Street.
Paul Smith already has shops around the world including London, Paris, Milan, New York, San Francisco, Hong Kong, Singapore, Taiwan, the Philippines, Korea, Kuwait, U.A.E.  – and more than 200 throughout Japan.
The 250-square-metre flagship Collins Street store lease was negotiated by CBRE and Savills.
The luxury fashion precinct already includes international luxury brands Cartier, Louis Vuitton, Bulgari, Gucci, Ermenegildo Zegna and Chanel.
"They join Joe Black the Tailor and Alistair Trung at the building, and we're confident that the store will have a real wow factor upon opening mid next year," says Claire Clark, general manager of 120 Collins Street.
Retail turnover in the Melbourne CBD had outperformed all other high street shopping strips in Victoria, she adds.
"Paul Smith’s business is an exciting addition to the precinct’s pre-eminent fashion credentials, and continues the tradition of prestigious fashion houses and boutiques that have set up shop here over the years,” says Michael Di Carlo from Savills.
CBRE agent Max Cookes suggests the deal is “testament to the strength of the retail market.”
Paul Smith offers 14 different collections including Paul Smith, PS by Paul Smith, Paul Smith Jeans, Paul Smith London, R.Newbold (Japan only), Paul Smith Accessories, Paul Smith Shoes, Paul Smith Fragrance and Paul Smith Watches.
The shops typically reflect the character of the designer and chairman, coming with an extensive selection of clothing, jewellery, books, art, antiques and other products.
 
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Fashion label Paul Smith to open first Australian store on Collins Street, Melbourne

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First-home buyers have emerged from hibernation becoming a dominant segment of the housing finance enquiry market, according to mortgage broker Loan Market.
First-time buyer enquiry levels were at their highest in almost two years after activity plummeted following the cessation of the federal government boost in 2009 and a sequence of interest rate rises during 2010.
The segment, who seem poised to spend, represented 51% of loan enquiries to Loan Market during October, according to Loan Market chief operating officer Dean Rushton.
“We’re finally starting to see signs of optimism and more confidence from that segment of the market. And predicted further rate cuts from the RBA would help to build that confidence,” Rushton says.
Tasmania had the highest number of enquiries followed by Queensland, Victoria, the Australian Capital Territory, South Australia, Western Australia and the Northern Territory.
“After a few years of hibernation, first-home buyers are back and are now the dominant section of the market for enquiry,” Rushton says.
Rushton notes the end of stamp duty concessions for first-home buyers in New South Wales from the end of 2011 year has boosted activity in that state.
“The softer real estate market is another encouragement for first-time buyers if they are in a position to be active in the market,” he adds.
<a href="https://www.propertyobserver.com.au/news/one-in-10-buyers-choosing-to-rent-to-invest/2011070750728" target="_blank">One in 10 first-time buyers are choosing to make their first real estate purchase an investment property</a>. 
For advice on buying your first investment property, download our free e-book.
 
 
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