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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Actor Toni Collette and her musician husband, David Galafassi, have snapped up a $6 million Paddington property.
It’s the double-fronted Paddington offering of Nick and Susie Kelly, the founders and owners of Industrie clothing.
It was snapped at an undisclosed price – but understood to be slightly more than $6 million.
Designed by architect Anthony Gill and completed in 2009, the five-bedroom, four-bathroom house on a 360-square-metre block sold well ahead of its October 14 closing date for expressions of interest.
The sale price through McGrath agent Ben Collier last month was a record for the southern side of Oxford Street, Paddington.
Consisting of two classic Victorian terraces combined into a palatial single residence, the contemporary tri-level family retreat had been reinvented to embrace light flooded indoor/outdoor living.
The two terraces cost $2.15 million in 2003 and $1.865 million in 2005.
The five-bedroom house will replace their hillside house at Bronte, <a href="https://www.propertyobserver.com.au/new-south-wales/toni-collette-set-to-cop-%24900000-loss-as-bronte-cottage-renovation-plans-shelved/2011110752228" target="_blank">on which the renovation rebuild costings defied property logic and has prompted its listing</a>.
The 1885 weatherboard Bronte cottage cost $4.4 million in mid-2009. They’ve since obtaining rebuilding approval, but have opted not to proceed given the rebuild construction tender quotes are understood to have tallied about $4 million. 
Given the current top-end market conditions aren’t resplendent with sunshine, its McGrath Estate Agents listing agent Bethwyn Richards has given public estimates she expects the property to sell for about $3.5 million and that Collette and Galafassi are prepared to cop a $900,000 loss.
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Actor Toni Collette and muso David Galafassi fall for the charms of contemporary inner-city Paddington

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Scott Pape, the financial adviser, broadcaster and author of The Barefoot Investor, has explained why he is keeping his home loan variable despite the fact that the banks are currently offering lower fixed rates. He says he envisages 2012 will be the time to “tart yourself around to the banks” to get a better deal next year.
“One reason is that having the security of locking in your rate comes at a cost: (usually) fixed repayments, and a hefty break fee if you want to walk.
“Banks behave in their own best interests,” he told subscribers to <a href="https://www.barefootinvestor.com/" target="_blank">his website</a>.
“A smarter strategy may be to wait and watch what happens with the unfolding debt crisis.
“We could see official interest rates come down, and cautious consumers continue to slow their borrowing (building approvals dropped 13.9% in September), causing banks to scramble for our business next year,” Pape wrote.
“That’s when I’ll be looking to lock in my rate.”
Pape, whose early days were as an investment adviser with EL&amp;C Baillieu, says until then he will make extra repayments: the quarter per cent cut this week translates into an (average) $50 a month cut, or $41,000 saved in interest over the life of a loan.
Pape recently noted that since Wayne Swan banned exit fees, the banks had found another way to stop their customers from switching to get a better deal.
“Fixed-rate deals give them that power.”
But he noted there’d be a $600 establishment fee at the start, “and if interest rates drop lower than your fixed rate they will slug you with a ‘break fee’ representing the difference between the two rates, multiplied by the length of time left on your fixed contract – which can add up to thousands of dollars.”
“If you’re really struggling, locking in your rates can give you the security of fixed repayments, but for everyone else it’s too much of a gamble.”
 
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Scott Pape, the barefoot investor, suggests staying variable

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Some 58% of Australians feel confident the economy will remain strong and stable over the coming year, believing Australia will fare better than the US and Europe, according to the latest CUA survey.
It noted any uncertainty Australians had towards the property market was only short term, with 58% feeling positive about it improving over the next five years.
Just 18% anticipate property prices will be below current levels in five years’ time.
Some 33% of those surveyed were intending to take out a loan over the next year, with half intending to do so to purchase either an investment or residential property.
The survey found that 63% of those looking at buying an investment property over the next year were totally new to the market.
Andrew Hadley, group general manager of strategy and marketing at CUA, suggests the findings provide a welcome contrast to the gloomy commentary that has been dominating recent headlines.
“The past few years have certainly been challenging economically and, while global economic uncertainty prevails, the continued strength and resilience of the Australian economy and financial system appears to be helping fuel a renewed sense of confidence and optimism among the Australian public.
“Undoubtedly, the recent cash rate cut announced by the Reserve Bank of Australia (RBA) will help to further drive this sentiment,” Hadley adds.
“As a nation we have been shoring up our savings and been cautious about making any major purchases and this has been particularly noticeable in the property market.
“It’s therefore encouraging to see that CUA’s Borrowing and Investment Intentions Survey highlights a positive attitude towards our property market over the medium term.”
Following the RBA’s latest rates announcement, CUA has cut 25 basis points off its standard variable home loan, pushing it to 6.97%.
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Strong new investment buying intent as most Australians think property will be pricier in five years: CUA

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The rules that apply to banking are changing radically, and these shifting sands will impact the way the banks deal with you. Indeed, the changes are already starting to percolate through to the banks’ products, in the way they are designed, how they are advertised, and the specific customer categories to which they are targeted. 



Did you know that banks can now permanently lock you into term deposits? Or that many “bonus” savings accounts offer a lower return over 12 months than an equivalent term deposit? Or that banks are deliberately trying to capture small, unsophisticated and sticky retail clients?



Today I will try and lift the lid on some of the banking world’s Byzantine secrets to help you better understand the thinking that drives their product and marketing strategies.



As with most puzzles, it is useful to start from first principles. So we need to ask ourselves the question, “Why are the rules that govern the business of banking changing?” 



The most obvious answer is because so many private banks failed in recent years, or required injections of taxpayer money and/or government guarantees to survive. Even in <country-region w:st="on"><place w:st="on">Australia</place></country-region> this was true: all banks benefited from unprecedented taxpayer guarantees of their borrowings (be they deposits or institutional debts).



Another motivation for revisiting the rules of the banking game was the consensus among policymakers that private retail banks and their investment banking offshoots were at the very heart of the crisis that pushed the global economy into recession, and which has caused millions of job losses around the world. 



In fact, the public policy response to this crisis, which necessitated government “bailouts” of numerous big businesses and resulted in massive taxpayer-funded “cash splashes” to stimulate  local economies, has perversely imperiled entire sovereign states, such as the US, UK, Greece, Ireland, Spain, Portugal and Italy. Some believe that it is possible that the Eurozone and its common Euro currency could collapse as a consequence.



OK, so that’s the context. How then have governments started to shift the banking goal posts, and what does this practically mean for you? Notwithstanding the affinity bankers and bureaucrats have with the use of impenetrable verbiage, these changes are not hard to get a grip on.



First, banks are going to need to hold more “equity” (or “cash”) and less “debt” (i.e., loans). That’s a simple enough concept. It is exactly the same as a bank manager requiring you to have a larger deposit when purchasing a property. The higher your deposit, the more cash (or equity) you have in your home, and the less debt you need. And if you are reducing your debt, that, by definition, means you are less likely to default on your mortgage. All told, you have lower risk – for both yourself and the bank.



So the boffins that provide the best-practice guidelines are saying that all institutions should have minimum levels of equity, much like a lender insisting you have a minimum, say, 10% deposit against your home. The policymakers take this one step further by also saying that the bigger and more complex banks, especially those with substantial offshore operations, should hold another extra layer of cash again.



To fathom the second suite of rule changes, you need to understand what banks do. At the crudest level, banks borrow money from people who want to earn a safe return (e.g., mum and pop savers and corporations that need to park cash) and lend that money back out at higher rates of interest to people that want to borrow to build or buy stuff (e.g., home owners and businesses). A bank sits in the middle and takes the “spread” between the rate of interest it pays to savers, who are actually lenders to the bank, and the return it gets from people that borrow from it. 



In this way, the bank is the ultimate “middle man”, inducing people to save and borrow while clipping tickets along the way. Don't get me wrong: we need them, as the conversion of savings into loans is the lifeblood of any economy.



The fundamental problem with banks is that there is typically an enormous mismatch between the respective terms (or maturity dates) of their “sources” and “uses” of funding. When we put our money into a bank account we like to have the flexibility to withdraw that cash at any time. But the wrinkle here is that the bank then uses that money to make 30-year home loans. Blind Freddy can see that if everyone demands their cash back at the same time the bank is going to be in strife.



The objective of the second batch of banking rule changes is, unsurprisingly, to try and more closely match the terms associated with the banks’ different sources of funding. That is, to better align the life of a bank’s assets with the life of its liabilities. More simply stated, the regulators are saying to banks: we want you to reduce your reliance on short-term borrowings if you are going to continue to make long-term loans.



While, ironically, the shortest term of all funding sources is an “at-call” retail deposit, regulators take the view that this money can be dependable if: (1) the customer has an established transactional relationship with the bank; (2) the customer is relatively small and unsophisticated (more sophisticated investors are more likely to run during a crisis); and (3) if there is some form of government insurance or guarantee protecting depositors. That is, of course, a simplified summary.



Under the new rules, banks have to show they have enough immediately accessible, or “liquid”, cash available to cover a “bank run” over a 30-day period. So if a bunch of people demand their money back from the bank, the bank can actually pay them out. 



Take our biggest bank, CBA. It gets about 60% of its funding from depositors, who are lenders to it. CBA will now have to show the bank regulator in Australia that if a significant share of its short-term funding flees because of some unforeseen financial mess-up, it has enough cash on hand to meet these repayments.



In boffin-speak this test is formally known as the “Liquidity Coverage Ratio” (or LCR).  To meet the LCR, banks in overseas countries will be forced to hold – rather ironically – a certain sum of government debt securities. 



The target LCR is 100%: that is, banks have to demonstrate that they can sell their liquid assets and meet 100% of the redemptions projected during a 30-day crisis. (Expect to see banks offer products with 30-day notice periods for withdrawals to cutely circumvent this rule.)



Since <country-region w:st="on"><place w:st="on">Australia</place></country-region> does not have much government debt, our banks will be treated differently. Specifically, they will be able to borrow from taxpayers via the RBA in order to pay their creditors. We will, of course, charge them a fee for this service.



A second major test will require banks to show that they have a minimum amount of “stable” funding to match the longer-term loans they make using that money. Roughly speaking, these two variables will have to (sensibly) match each other one-for-one. 



Once again, if a retail depositor is small, unsophisticated, and has a long-term transactional relationship with the bank, it may be regarded as a stable source of funding under the new regulations.



By understanding these new rules, you can start to work out what kinds of product changes the banks will want to make. For instance, we will likely see banks trying to attract lots of small retail depositors whom they can convert into long-term transactional clients. They will also be seeking to subtly lock customers into lending money to the bank for longer periods of time, even if these lock-ups are non-obvious.



There are already a few practical examples emerging in the market. One is the “teaser” rates that you increasingly see the likes of ING Direct, UBank, and Rabo Direct advertise. These are the opposite of the “honeymoon” rates some lenders attach to their home loans. 



Teasers are all about cheaply acquiring low-tech customers who will be incented to stay in transactional accounts for at least four months. Such folks have a good chance of eventually falling into the bank’s all-important “stable” funding basket.



Along these lines, ING Direct promotes a “6.35% per annum” savings account. To be clear, you can never earn a 6.35% interest rate over any 12-month period with this product (taking as given no change to the RBA’s rate). This is because you only get the high 6.35% rate for the first four months, after which it drops down to a much lower 5% rate. 



Accordingly, if you hold the account for a year, you are actually getting a circa 5.45% per annum rate, which is substantially less than ING Direct’s one-year term deposit rate of 5.7%. You are also restricted to investing a maximum of $250,000.



Rabo Direct offers a similar product. You can only invest $200,000 and get a high “bonus” interest rate for the first four months, following which it reverts to the lower standard rate. 



UBank runs a slightly different “special” that gives you an extra 0.5% per annum over its basic variable rate as long as you keep adding $200 to the account every month (thereby demonstrating your long-term “commitment” to it), and on the proviso that you invest no more than $200,000.



Perhaps the most subtle product catches I have seen come with term deposits (TDs). I only discovered these traps by reading the very fine print in the terms and conditions. You see, I and most other people presume that with a TD you can take your money out at any time subject to an interest rate penalty. That is, you don’t get the higher TD rate if you pull out. 



As it happens, this assumption is incorrect. In the two TDs I checked – one offered by a major bank and another supplied by a smaller one – the bank, and only the bank, has exclusive “discretion” as to whether it “allows you” to take your money out of the TD before maturity. 



I had a sneaking suspicion there would be a catch like this because the banks need to show that TDs are long-term sources of funding, and that depositors cannot simply exit en masse.



In the major bank’s fine print, it says, “you may apply to the bank…to request the withdrawal or all or part of your funds prior to the maturity date. The Bank may, in its discretion, approve a request for early withdrawal”, in which case you are also charged a prepayment penalty and a fee. 



This is carefully worded legalese that means the bank can, in its sole judgment, reject your application to withdraw your money (it is just not stated that way). 



How big are the penalties the banks charge you if they “allow you” to withdraw your money from a TD? With this major bank, if you wanted to take out your money 20% of the way into the TD’s term, you would lose 90% of all your interest. If you withdraw 40% into the term, you lose 80%, and so on. These are very big penalties, and have a termination fee added on top.



An example of similar language is found in the terms and conditions of a TD offered by a smaller bank. They say, “We may, at your request, allow you to break your Term Deposit before maturity… You must pay a termination fee if we allow you to terminate your Term Deposit prior to its maturity.” 



If this bank “allows you” to break the TD, it is then permitted to charge potentially substantial “break costs” much like the early repayment fees associated with a fixed-rate home loan. Specifically, it says:



“Break costs reflect future cash flow losses incurred by us as a result of interest rate differentials that exist between wholesale market rates applicable to the existing term deposit and current wholesale market rates applicable for the remaining period of the term deposit, adjusted to reflect a net present value. Break costs increase in line with increases in the following: interest rates, the amount withdrawn and the market margin.”



The sleight-of-hand extends to the marketing strategies used to promote TDs. Take this “screen shot” from Rabo Direct’s webpage (see below). Now what number leaps out at you? Why, a stunning 6.4% per annum interest rate? Notice that there is no asterisk next to this rate, but just the lightly shaded words in the top left-hand corner of the bold blue box. Yes, the words that attach the caveat “Up to”. Hard to see, isn’t it?
<img src="/images/stories/nov8.jpg">
As it turns out, this super-duper 6.4% per annum interest rate only applies to Rabo’s five-year term deposit. So what is the much more popular one year TD rate? A substantially lower 5.5% per annum.




The bottom line is that banks are having to evolve their businesses. The policy objective is to make them safer and less prone to failure. This is a good thing. Just be aware that your money may be part of the solution. And all investments, even term deposits, carry risks. Accordingly, do your homework before you enter into one.

Christopher Joye is a leading financial economist and a director of Rismark International and Yellow Brick Road Funds Management. The above article is not investment advice.
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Busting big bank secrets: Insights on avoiding bank fee traps

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The commercial property market is driven mainly by supply and demand, especially offices.
And therefore, with falling vacancies, positive net absorption and few new projects in the pipeline, this means a looming shortage of office space around Australia — with rentals poised to rise sharply.
A recent study by Savills shows a 22% decline in available full floors nationally — currently sitting at 591 floors in September this year.
With the surge in the mining sector, Perth had a 50% fall to 65 available prime floors over the past two years.
And in Brisbane the number of prime floors available has declined 32% (to 99 floors) over the past 15 months, as its mining sector also regains momentum.
The Melbourne office vacancy rate has remained consistently low (currently at around 5.3%) due to a more even balance in its tenancy mix. Plus, most of the new Docklands projects proceeded with significant pre-commitments.
As such, it has mainly been back-fill space (left by relocating tenants) that has provided the 56 vacant floors within the Melbourne CBD.
Sydney also enjoyed a decline of over 20% in full floors. However, it still has about 260 prime floors available —just under half of the total number of floors available nationally.
Bottom Line: With the lack of any major new construction until around 2013-14, vacancy rates will continue to fall. In turn, this will cause sharp increases in both rentals and capital growth — making commercial property a great performer over the next five years.
Chris Lang is an advisor to commercial property investors and gives keynote speeches and regular seminars on the best way to invest in commercial property. He maintains a blog, <a href="https://his-best.biz/" title="Chris Lang's blog" target="_blank">his-best.biz</a>, which he updates regularly about the best way to get the most out of your commercial property investment.
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Falling vacancies make offices a good commercial investment

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Property group Metro Property Development has plans for another apartment and retail development in Brisbane’s Fortitude Valley after acquiring two adjoining sites measuring a total of 2,553 square metres. 
Settlement on the two sites at 1 Commercial Road and 977 Ann Street is due by November 2012, subject to appropriate development approvals. 
In the pipeline is a high-rise residential and retail development with more than 200 apartments and a total value of $105 million. 
If it goes ahead will add to more than a <a target="_blank" href="https://www.propertyobserver.com.au/developments/alex-perry-development-and-others-all-the-fashion-in-fortitude-valley/2011091551568">dozen residential projects under development or under construction in Fortitude Valley and Bowen Hills, adjacent to the Brisbane CBD</a> including Alex Perry’s 11-storey designer block being developed by Chrome Property Group. 
The 900-square-metre Anne Street site was occupied by a church organisation, which paid $522,500 in 1997. It had been recently listed for sale at about$3.6 million by Yong Commercial Sunnybank Hills.
The 1,450-square-metre Commercial Road car yard last traded at $1.97 million in 2003.
Both sales were negotiated by Elders Commercial’s Carl Charalambous. 
Charalambous says the sales are indicative of the strengthening market for new development sites in and around the Brisbane CBD. 
Metro founder and executive chairman David Devine says the latest acquisitions will take the company’s workbook of current and future apartment developments (including joint ventures) to 2,030 apartments worth $922 million and 800 residential development lots in Victoria worth $120 million. 
“Fortitude Valley has enjoyed strong capital growth over the past decade, with a median price growth rate of 5.5% from 2001 to 2010.  However, the suburb is still ranked as the fourth most affordable apartment market within the 21 suburbs that make up inner Brisbane,” Devine says. 
“We continue to see exceptional value in Brisbane’s inner-city suburbs like Fortitude Valley and Bowen Hills with the availability of high-quality sites, sustainable building costs and good demand from buyers.” 
Metro currently has three joint venture projects underway in Fortitude Valley and neighbouring Bowen Hills in partnership with Pearls Australasia, an Indian apartment developer. 
To date, all 195 apartments at The Chelsea in Bowen Hills have been sold while 200 of 285 apartments at the Madison Heights project in Bowen Hills have changed hands 
In the week following its launch, <a target="_blank" href="https://www.propertyobserver.com.au/developments/buyers-snap-up-20-of-fortitude-valley-s-brooklyn-offerings/2011101351911">40 apartments in the 141-apartment Brooklyn on Brookes’ development in the Valley were sold off-the-plan generating sales of $18 million</a> with buyers taking advantage of the Queensland Government’s $10,000 Building Boost. 
Colliers has forecast 1,800 apartments to come up for sale in the inner-Brisbane market over the next 12 months with a further 4,500 due to be released in 2013.
According to Metro Property an extra 22,000 people are expected to move to Fortitude Valley by 2030.
For advice on buying off the plan download our free e-book.
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Metro to add to Fortitude Valley apartment portfolio

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The first stage of Brisbane development Hamilton Reach is 40% sold, after coming onto the market in April.
Stage one of the development, called Watermarque, comprises 78 apartments across two five-storey buildings, and 32 of these have been sold.
<img src="/images/stories/watermar1ue.jpg">
Watermarque includes two one-bedroom apartments, priced from $350,000, 30 two-bedroom apartments priced from $535,000 and four three-bedroom units priced from $890,000. Units range in size from 56 square metres to 150 square metres, plus a 183-square-metre balcony.
<img src="/images/stories/watermarque2.jpg">
Australand Queensland residential division general manager Richard Fulcher says Hamilton Reach’s riverfront location and affordable pricing have been well-received by buyers.
“We believe Hamilton Reach offers the best value new riverfront apartments in the market, and the sales success to date has reinforced this,” Fulcher says.
“Buyers have been drawn to the project due to its lower density,” he says, adding that its river frontage has been a major selling point.
<img src="/images/stories/watermarque1.jpg">
Sales have included two three-bedroom apartments for $1.4 million each and the penthouse for $1.5 million.
Buyers of the first stage of the development include both owner-occupiers and investors.
Watermarque is designed by architectural firm Arqus Design and is close to transport links and entertainment and dining precincts at Portside Wharf and Racecourse Road.
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cknowlton-QnEa6ntUYP

Brisbane development Watermarque 40% sold

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Little-known Perth real estate investment company FJM Property is part of the consortium of three behind the $580 million redevelopment of Perth’s Old Treasury Buildings.
Premier Colin Barnett has agreed to a 99-year lease with the Mirvac/CBus Property consortium, with the state paying a premium rent of $102 million over $25 years.
The Treasury buildings will be refurbished into an ultra-exclusive Aman Resort while a 35-level office tower will be developed at the centre of the site, which is part of the St George’s Terrace Cathedral Heritage Precinct. The development is expected to be completed in 2014.
“We are the equity investors behind the hotel, but the building will remain a state asset. To be converting something that was one of the most important state buildings in WA is very exciting both from the heritage perspective and that we are breathing life back into a building that has sat unloved for 15 years,” says FJM director Tim Mack.
While FJM may not be widely recognised, chief executive Adrian Fini brings much experience from his many years as executive director of development for Mirvac WA and then as a non-executive director until his resignation from the board last year.
Fini is involved in several smaller projects, including the addition of a hotel to Fremantle’s Little Creatures boutique brewery and restaurant in Fremantle, but the Treasury is the company’s highest-profile acquisition to date.
It has teamed up with uber-chic Hong Kong-based Aman Resorts to manage the site.
Singapore and Fremantle-based architect Kerry Hill, who has made his name by creating some of the world’s most beautiful resorts such as Amannusa in Bali and The Datai in Langkawki, will provide creative direction.
Already it has been decided that preservation is key. While keeping most of their unique shapes, two and three original offices will be joined together to create each of the 48 rooms that will range in size from 50 square metres to 150 square metres. The building will have all the trimmings expected of a six-star operation, including a private library for guests.
“It will have a very authentic and timeless style. Aman brings together indigenous culture, Asian simplicity and European comforts,” says Mack.
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andreadixon-oif3j7eKne

Perth's Old Treasury to become Aman Resort 

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We’re coming to the end of a year many agents will be pleased to bid farewell.  Turnover has been down in most states – and prices ordinary at best. Last month should have been one of the busiest of the real estate yearly cycle, but turned out to be one of the quietest.  This has placed a strain on many of the smaller real estate agencies that need to bank enough commission to last through the quieter Christmas months.
Therefore the majority are celebrating the official drop in interest rates and it was widely spruiked during the weekend auction pre-ambles as being the stimulus needed to re ignite the market. However, a 25-basis-point drop will have no noticeable effect on prices – certainly not in the short term. Although there is hope, it will mark the beginning of a change in sentiment. 
The Melbourne market is a mixed bag.  There are plenty of buyers looking, but most are reluctant to step into the arena unless necessary.  Those who need to buy are often struggling to find suitable choices – quality has been meagre across the board all year.  In some respects it’s similar to 2008 – investors who need to sell will shed their poorer assets first, owner-occupiers will only sell if personal circumstance demands – and discretionary vendors will only sell if they can get their “wish price”. 
In such circumstances overpriced property will often linger on the market for months at a time, equating to large volumes of sub-par stock, much of which does not fulfil the needs of current home buyers.  Some investors have been brave enough to act against the tide and purchase, but most are cautious enough to wait and see.  If we have a second interest rate drop it may push prices. However it would be premature to make such suggestions while there are still serious global jitters. 
Clearance rates in Victoria have been stuck in the 50s for a number of months, but many vendors are still opting for the auction system over private treaty.  In bullish markets it can be a remarkably successful way to escalate the price to levels buyers wouldn’t have otherwise stretched to, however in a flat market the effect is reversed.  If a buyer sees no one else bidding, he will naturally lose confidence and tighten the wallet strings – in such cases it will take a skilled negotiator to fulfil vendor expectation. However whatever the outcome, it’s a daunting experience for any buyer – and of course seller – full of hope, anticipation, emotion, and drama. 
Melbourne auctions are advertised as a fair, transparent way to sell real estate, and on the face of the process sounds very simple.  Everyone lines up outside the property and providing the bids reach the reserve, the person still holding their hand up when the agent shouts, “sold” is the winner! Right?  Well, not exactly. 
The real estate agent shouting “sold” loudly in your direction and masterfully thrashing the contract into his hand does not complete the sale of real estate.
At this stage the buyer has offered nothing but a verbal promise, which – in real estate – is not enforceable and does not count as a successful sale.  Until the purchaser and vendor have signed the contract, the property is not sold. There’s good reason why sales agents rush the winning bidders inside to sign the contracts after the auction, avoiding excessive chatter or distractions.  Those who have been through the process will also be aware they won’t meet the vendor until the ink is drying on the paper.  It’s not been unknown for arguments to occur between the two parties and as a consequence, the sale to be thwarted. 
In fact if truth be known, the auction process works in the best interests of the sales agency who get their day in the sun performing to the local vendors. With flags on display and a street full of spectators, it provides a fantastic chance to source other prospective buyers and sellers – any agency worth their salt will use the opportunity well. 
Auction rules vary across the states, however in Victoria every agent is obligated to state that the auction will be conducted in accordance with the REIV bidding conditions on display before the event. Following this will be an explanation that no late bids will be conveyed to the vendor and at the fall of the hammer the property will be effectively sold to the “winner”. However this information can be somewhat misleading to the inexperienced ear and it’s important for prospective purchasers to understand exactly what is legally required to complete the purchase. 
Firstly there is nothing that requires the winning bidder to sign the contract.  In other words, they are allowed to change their minds if they suddenly notice something they don’t like on their walk inside the property before pen hits paper! As I said above, the verbal agreement to purchase only takes effect once in writing. 
Secondly – the vendor can also change her mind or sell to a higher bidder.  For example if she overhears someone shout out after the hammer has fallen that they’ll pay $20,000 more there is nothing to stop her instructing the auctioneer to “re-open” the auction – the rules only state that the auctioneer is not allowed to take or convey bids to the vendor after the property has been knocked down.  She can also decide she doesn’t want to sell if she doesn’t like the look of the potential purchaser. Both these situations have occurred more than once, and shouting “unfair” won’t change things one iota.  In other words, the show that has just taken place outside the property essentially offers nothing but  good street theatre. 
What about dummy bidding?  Illegal, right?  Technically yes – however in practice no! The dummy bid has simply been re-termed “vendor bid”.  It serves no purpose what so ever except enable the agent to shout out a bigger number.  It’s neither statement of the reserve, a counter offer, or a realistic idea of the property’s market value.   It’s simply the agent attempting to get the bidder to increase their offer in a vain attempt to get to get closer to announcing the property “on market” and reaching reserve. 
Considering the information above, what is the real goal of an auction in Melbourne? It’s certainly not to get the highest price – after all, the successful bidder is only going to offer one bid over what the under bidder is willing to pay. It can however be very successful when two buyers have a similar amount to spend – although there is no easy way to assess this before the event. In fact a skilled negotiator will stand a better chance of getting a purchaser’s highest price through a private negotiation process than he will at auction.  Get two potential bidders in separate rooms – each not aware of the other’s budget – and you’d be surprised what good negotiation can achieve! 
Auctions can be great street theatre, and on occasion will obtain prices well above expectation.  However as a method of sale, they are nothing more than an elaborate show – publicising the estate agency, and satisfying the vendor that their property has been marketed well enough to attract a range of spectators to the event.  It’s time we started putting more emphasis on other methods of sale and celebrating the many good negotiators in the industry who achieve excellent results without the need for a public show. 
Catherine Cashmore is senior buyer advocate and property consultant. With extensive experience in all matters regarding real estate, she is a regular commentator in the media for numerous outlets providing a broad range of expertise.
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catherinecashmore-6LXia3pPQj

Melbourne auctions offer little more than good street theatre

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A five-year view of house prices in Australia’s four biggest cities following the release of the <a href="https://www.propertyobserver.com.au/residential/house-prices-fall-slightly-in-best-result-in-seven-months-rp-data-rismark/2011103052126?source=flicker1" target="_blank">RP Data/Rismark September house price index</a>
<img src="/images/stories/rpnov7.gif">
Source: RP Data/Rismark 
 
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