Article summary

<ul data-end="785" data-start="311">
	<li data-end="459" data-section-id="5hbcyr" data-start="311">Pikos Group has released the five-penthouse collection at Skye Kangaroo Point, headlined by a two-storey sky home spanning more than 1,000 sqm.</li>
	<li data-end="561" data-section-id="1p7lq8n" data-start="460">Early buyer interest suggests the residences could set a new Queensland apartment price record.</li>
	<li data-end="667" data-section-id="1y70z0l" data-start="562">The collection includes four move-in ready penthouses and the highly customised Skye One residence.</li>
	<li data-end="785" data-section-id="yvm0y1" data-start="668">The release caps one of Bri​sbane's most ambitious luxury apartment developments overlooking the Brisbane River.</li>
</ul>

<hr data-end="790" data-start="787" />
Pikos Group has released the five-penthouse collection at its <a href="https://www.apartments.com.au/buildings/skye-residences-by-pikos-kangaroo-point-8-river-terrace-kangaroo-point-qld-4169">Skye by Pikos</a> development in Kangaroo Point, with early buyer interest indicating the flagship residences could eclipse every apartment sale previously recorded in Queensland.

The collection crowns the luxury riverfront development with five residences, including four completed penthouses and Skye One, a two-level sky home spanning more than 1,000 sqm that will be tailored to its eventual owner.

[smartcode_project:default project_id=90059 project_image_fid=374075]

Wanting to offer a fully customisable home, Pikos is offering Skye One as a blank canvas, allowing the buyer to work alongside the developer's design team to customise the home's layout, finishes and internal spaces.

The residence will feature a 247 sqm private rooftop terrace with its own swimming pool, sauna, steam room, outdoor kitchen and multiple entertaining areas overlooking the Brisbane River and CBD skyline.

The remaining four penthouses have been completed and are ready for immediate occupation, each offering four bedrooms, expansive open-plan living areas, soaring ceilings and private lift access.

[smartcode_project:default project_id=90059 project_image_fid=374059]

One of the defining features throughout the project is its use of Roman Classic Travertine, with more than 20,000 sqm of the natural stone imported from Italy after being personally selected by Pikos Group Founder and Executive Director Pedro Pikos, interior designer Julie Williamson and third-generation stone specialist Mario Caucci.

Pikos said the penthouse collection represented the culmination of the company's long-term vision for Skye.

"True legacy isn't measured by what we build today, but by what endures tomorrow," Pikos said.

"Our ambition is to create places that become more valuable with time, enrich the lives of generations, and stand as timeless landmarks long after we've stepped away."

[smartcode_project:default project_id=90059 project_image_fid=374060]

Williamson said the interiors were inspired by the natural character of Kangaroo Point and the Brisbane River rather than international design trends.

"Materiality tells the story of a place," Williamson said.

"We looked to the movement of the Brisbane River, the texture of the cliff face and the warmth of the surrounding landscape to create interiors that feel understated, enduring and unmistakably Brisbane."

Positioned above the Kangaroo Point cliffs, Skye places residents within walking distance of Howard Smith Wharves, South Bank and James Street while offering uninterrupted river and city views.

[smartcode_project_cta:default project_id=90059]

Joel Robinson

Brisbane's next apartment price record? Pikos unveils Skye's exclusive penthouse collection

Article summary

<ul data-end="888" data-start="289">
	<li data-end="442" data-section-id="8tsh6o" data-start="289">DVB Projects is preparing to launch its second Gold Coast apartment development, with demolition now underway at 137 Old Burleigh Road, Broadbeach.</li>
	<li data-end="573" data-section-id="1nyxl3e" data-start="443">The 34-level tower will comprise just 49 ultra-luxury residences, including half-floor, full-floor and penthouse apartments.</li>
	<li data-end="717" data-section-id="oiyimj" data-start="574">The launch follows strong demand at DVB's nearby Sea Glass project, which is more than 50 per cent sold and currently under construction.</li>
	<li data-end="888" data-section-id="epk9o9" data-start="718">The development adds to the transformation of Old Burleigh Road, with premium beachfront apartment projects continuing to reshape the tightly held Broadbeach strip.</li>
</ul>

<a href="https://www.apartments.com.au/developers/dvb-projects">DVB Projects</a> is preparing to launch its second Gold Coast apartment development, with demolition now underway on the Broadbeach site as the Sydney developer moves closer to bringing the ultra-luxury project to market.

The 34-level tower at <a href="https://www.apartments.com.au/new-apartments/137-old-burleigh-road-broadbeach-qld-4218">137 Old Burleigh Road</a> will comprise just 49 residences, ranging from half-floor apartments through to full-floor homes and a penthouse. The launch follows the strong sales performance of DVB's nearby Sea Glass development. More than half of the apartments at Sea Glass, on the other side of Broadbeach, have been snapped up, well ahead of its late 2027 completion

<img alt="DVB Projects to commence demolition on $320m Broadbeach luxury tower" data-entity-type="file" data-entity-uuid="2944b4be-c84e-4b54-8dc1-c712e76704c0" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/E02_Exterior_Street%20Level%20Entrance.jpg?VersionId=YoNig7pRdrE3HCue7sUj78LzJteeQf3H" />

The start of demolition at 137 Old Burleigh Road signals DVB Projects’ underlying confidence in the Gold Coast’s luxury beachside apartment sector.

“We see the Gold Coast as one of the most compelling lifestyle markets in Australia, particularly at the premium end where demand continues to deepen,” said Dean Brown, Managing Director of DVB.&nbsp;

“This project has been carefully designed to respond to that demand - delivering large-format residences with a level of quality, privacy and amenity that is still relatively rare in the apartment market on the beachside."

Brown says the site itself is "exceptional."

"Old Burleigh Road is one of the most tightly held beachfront strips, and opportunities to deliver a project of this scale and calibre in this location are extremely limited.”

<img alt="DVB Projects to commence demolition on $320m Broadbeach luxury tower" data-entity-type="file" data-entity-uuid="398f377a-c037-455e-9250-0c5e0d84c35b" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/I12_FF%20Balcony.jpg?VersionId=NwOiRWGMubR1c8wthuEfggklcja7al9." />

The project will comprise 40 half-floor residences of approximately 260 sqm, alongside eight full-floor residences spanning around 524 sqm.

A single penthouse will crown the building, featuring a private pool, barbecue area, indoor gym and dedicated entertaining spaces.

Residents will have access to a resort-style suite of amenities, including a 20-metre pool with daybeds, a gymnasium, hot and cold plunge pools, a sauna, and private residents’ lounge and dining facilities.

<img alt="DVB Projects to commence demolition on $320m Broadbeach luxury tower" data-entity-type="file" data-entity-uuid="d1642bb0-9a66-4427-a022-dfc0988c6287" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/A02_Pool%20to%20View.jpg?VersionId=c0IXPyn_Gp_Kn3XCwzMrqIVkAdCEwVXP" />

Sales agent Todd Matheson, of <a href="https://www.apartments.com.au/project-marketer/pezet-matheson">Pezet Matheson</a>, which is marketing both 137 Old Burleigh Road and Sea Glass, said 137 Old Burleigh Road would address a clear gap in the market for genuine luxury products.

“There are very few opportunities on the Gold Coast where buyers can secure a residence of this size and quality in a new building,” Matheson said.

“What we’re seeing is a growing cohort of downsizers and interstate buyers who still want space - they’re not willing to compromise on living area, entertaining or finishes.

“This project has been designed with that buyer in mind. It offers the scale of a home, combined with the convenience and security of apartment living, in one of the coast’s most desirable positions.”

<img alt="DVB Projects to commence demolition on $320m Broadbeach luxury tower" data-entity-type="file" data-entity-uuid="59aae0ca-5639-4320-8aca-d0bf60f48e43" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/E01_Exterior%20Hero.jpg?VersionId=DS8Zfy2WtgUEtdfe0TEUuf1W1GfcZq8S" />

Located on a 1,156 sqm site one block from the beachfront, the development will replace an ageing walk-up building and is expected to contribute to the ongoing transformation of the Old Burleigh Road strip into one of the Gold Coast’s most prestigious residential corridors.

With the development moving into the delivery phase, 137 Old Burleigh Road is slated to hit the market later this year.

[smartcode_project_cta:default project_id=145141]

DVB Projects to launch second Broadbeach apartment tower as demolition commences

A proposal to redevelop one of North Sydney's ageing commercial buildings has taken another step forward, with plans for a 38-storey mixed-use tower adding momentum to the long-awaited transformation of the Alfred Street precinct.

Now on public exhibition through the NSW Government's Housing Delivery Authority-led State Significant Development pathway, the proposal for 271-273 Alfred Street would replace an underutilised commercial building with 95 apartments, ground-floor retail, commercial space and affordable housing. The proposal was submitted by&nbsp;Tara Shore Pty Ltd, acting for the John Taylor Family Trust.

While the project will deliver much-needed housing on the southern edge of the North Sydney CBD, it also represents another piece of a broader precinct that has spent years in planning limbo.

<img alt="First look: New public domain vision underpins 95-apartment North Sydney tower on Alfred Street" data-entity-type="file" data-entity-uuid="7e1ce1b4-38df-48ab-992f-386814d86308" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Alfred%20St%20da%20podium.png?VersionId=sC_h6w.A9VEoB98qsqowPlIoz__sBZBt" />

Despite its proximity to both North Sydney Station and the Victoria Cross Metro, redevelopment of Alfred Street has progressed slowly over the past decade as broader planning controls, zoning and building heights remained unresolved. The introduction of the Housing Delivery Authority pathway has provided a new avenue for projects to progress, allowing rezoning and development assessment to occur concurrently and unlocking sites that have long been earmarked for renewal.

Designed by Office of Cortese &amp; Gilder, the proposal seeks to do more than replace an ageing office building. The architects have positioned the project as the first stage of a wider public domain vision that would improve pedestrian connectivity and create a more cohesive mixed-use precinct as neighbouring sites are redeveloped over time.

The proposal includes a widened Alfred Street setback, new street trees, landscaping and outdoor seating, along with a landscaped through-site pedestrian link connecting Alfred Street with Little Alfred Street. The connection is intended to become the first section of a future east-west pedestrian network extending across the precinct.

<img alt="First look: New public domain vision underpins 95-apartment North Sydney tower on Alfred Street" data-entity-type="file" data-entity-uuid="8ea39ac3-46ad-4562-b4a0-b862e91c2dda" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Alfred%20St%20da%20site.png?VersionId=K7umCd21KpetEFuVfsPlnJKhUOsmTTdV" />

The mixed-use tower would comprise retail space at ground level, commercial uses on level two and apartments from level three upwards.

In total, the development would deliver 95 apartments, including nine one-bedroom, 28 two-bedroom, 56 three-bedroom and two four-bedroom residences. Twenty-one apartments, representing 15 per cent of the residential gross floor area, would be secured as affordable housing and managed by a registered community housing provider for at least 15 years.

Nine basement levels would provide 133 resident car spaces, seven motorcycle spaces and 111 bicycle spaces.

According to the Architecture and Urban Design Report, the public domain strategy is designed to transform what is currently an inward-facing commercial edge into a more active and connected pedestrian environment, creating a stronger relationship between the commercial core and surrounding residential neighbourhoods.

Office of Cortese &amp; Gilder has also prepared a broader public domain framework spanning neighbouring properties between 263 and 283 Alfred Street, arguing that a coordinated approach to redevelopment will deliver better public spaces, improved tower separation and a more connected streetscape as the precinct evolves.

The proposal comes at a time where North Sydney is slated for future residential growth. Commercial developer FiveX has residential plans for the neighbouring site at 275 Alfred Street. They've proposed a 39-storey mixed-use tower with 184 apartments, while Freecity was recently approved for nearly 300 apartments across a 51-storey building on Walker Street.

Read more:&nbsp;<a href="https://www.apartments.com.au/news/nsw/first-look-freecity-gets-green-light-for-mixed-use-apartment-and-hotel-tower-in-north-sydney">First look: Freecity gets green light for mixed-use apartment and hotel tower in North Sydney</a>

Read more:&nbsp;<a href="https://www.apartments.com.au/news/nsw/first-look-fivex-plans-39-storey-residential-tower-in-booming-north-sydney">First look: Fivex plans 39-storey residential tower in booming North Sydney</a>

&nbsp;

Alfred Street the latest North Sydney pocket to be transformed by residential development

Buyers considering a residence at boutique Gordon townhouse development <a href="https://www.apartments.com.au/new-townhouses/lume-gordon-43-47-dumaresq-street-gordon-nsw-2072">Lume</a>&nbsp;now have another reason to bring forward their decision.

For a limited time, purchasers of a residence at Lume will receive a BMW iX3 50 electric SUV, valued at more than $120,000, as part of their purchase. The offer is designed to add value for buyers while complementing the lifestyle envisioned for the architecturally designed Upper North Shore development.

Scott Timmins, Development Manager at <a href="https://www.apartments.com.au/developers/winim">WINIM</a>, said the partnership was created to provide buyers with a compelling reason to act.

"In today's market, buyers need a compelling reason to act now, and the BMW partnership was designed to create that catalyst. We wanted to add genuine value for our future purchasers. Choosing the all-electric BMW iX3 50 also reflects the values behind LUME, forward-thinking design, innovation and a more sustainable way of living. It's a premium incentive that complements the lifestyle our buyers aspire to and rewards those who commit early."

[smartcode_project:default project_id=7354 project_image_fid=374893]

Delivered by WINIM in partnership with Burtonwood Investment Partners, Lume comprises 14 architecturally designed two, three and four-bedroom townhomes created for families seeking the space of a freestanding house with the ease of modern, low-maintenance living.

The three-storey residences, designed by award-winning architecture practice <a href="https://www.apartments.com.au/architects/rothelowman">Rothelowman</a>, have been tailored for families and multi-generational living, featuring private internal lifts, flexible lower-level spaces, generous open-plan living and entertaining areas, media rooms, and landscaped outdoor spaces with custom outdoor kitchens.&nbsp;

Inside, engineered oak flooring, bespoke dining joinery with integrated wine fridges and backlit bars, sculptural porcelain bathrooms, Parisi freestanding baths and Astra Walker tapware create interiors that balance functionality with refined finishes.

Each townhome has been designed to combine generous internal spaces with sustainability initiatives such as EV charging infrastructure, while <a href="https://www.apartments.com.au/landscape-architect/arcadia-landscape-architecture">Arcadia</a>'s landscaped communal areas, centred around a restored creek line and native planting, encourage residents to connect with nature and spend more time outdoors.

[smartcode_project:default project_id=7354 project_image_fid=269527]

Rothelowman's Gary Tsui said the architecture was conceived to respond carefully to its Upper North Shore setting.

"Our vision was to create elegant, uplifting homes that draw on and positively contribute to the local character through meticulously considered design and an interaction with the surroundings."

The communal landscape has been designed as more than an open space between homes. Arcadia's Ben Newell and Kate Phillips said the adjoining reserve provided an opportunity to create a distinctive natural retreat for residents.

"Just as waterways carve their way through Ku-ring-gai's landscape, a raised boardwalk weaves through the reserve, connecting the homes to this tranquil oasis."

[smartcode_project:default project_id=7354 project_image_fid=374892]

Located just 300 metres from <a href="https://www.apartments.com.au/developments/gordon-nsw-2072">Gordon</a> Village and Gordon railway station, Lume offers convenient access to Sydney's CBD while placing residents close to some of the North Shore's leading schools, including Ravenswood, Pymble Ladies' College and Knox Grammar. Lane Cove National Park, Gordon Golf Club and a range of cafés and restaurants further reinforce the family-focused lifestyle on offer, with the BMW iX3 50 complementing everything from local trips around Gordon to weekend drives and city commutes.

Construction is underway with completion expected in mid-2027.

[smartcode_project_cta:default project_id=7354]

Boutique Gordon townhomes now come with a BMW iX3 50

Two apartments have sold for more than $10 million at EADE Byron Bay, setting some of the highest apartment prices ever achieved in the coastal town and underlining the growing appetite for luxury beachfront apartments in Australia's most popular coastal locations.

The $210 million project by Vitale Property Group has now secured more than $70 million in sales, led by residences that changed hands for $12.75 million and $11.75 million.

The record-breaking transactions reinforce the shift occurring in Byron Bay's premium property market, where affluent downsizers and lifestyle buyers are increasingly opting for high-end apartments over large beachfront homes.

<a href="https://www.apartments.com.au/new-apartments/eade-byron-bay-29-shirley-street-byron-bay-nsw-2481">EADE Byron Bay</a> occupies a rare 6,000 sqm absolute beachfront site on the corner of Shirley and Milton Streets overlooking Main Beach and The Wreck surf break, just 350 metres from Byron Bay's town centre.

The 25-residence development is the first beachfront apartment project approved in Byron Bay in more than a decade and is currently under construction, with completion expected in May 2027.

[smartcode_project:default project_id=145590 project_image_fid=359521]

The project has attracted a mix of local Byron Shire residents downsizing from larger homes, alongside interstate buyers from Sydney, Melbourne and Brisbane seeking a permanent coastal lifestyle without compromising on space.

Designed by <a href="https://www.apartments.com.au/architects/hayball">Hayball</a> and with interiors by <a href="https://www.apartments.com.au/interior-designers/alexander-co">Alexander &amp; Co</a>, EADE comprises&nbsp;10 garden apartments ranging from 284 sqm to 622 sqm, nine with private pools, five full-floor apartments and 10 rooftop residences with private plunge pools, expansive outdoor entertaining areas and uninterrupted ocean views.

[smartcode_project:default project_id=145590 project_image_fid=359527]

<a href="https://www.apartments.com.au/developers/vitale-property-group">Vitale Property Group</a> Managing Partner Chris Vitale said the project's combination of scale, location and limited future supply was driving buyer demand.

"There isn't another beachfront holding in Byron Bay of this size and position that could be developed again," Vitale said.

"Buyers are responding to the scarcity and the irreplaceability of a site of this calibre and to floorplans they can't find elsewhere in the market.

"We are seeing buyers place significant value on quality, space, design, resort-style amenities and the rarity of the location. The sales achieved to date demonstrate that discerning purchasers recognise the long-term significance of what is being created at EADE Byron Bay.

"Many are coming from larger homes in the Byron region, or from Sydney, Melbourne and Brisbane, and are after the space, security and convenience, without the upkeep of a house."

&nbsp;

[smartcode_project:default project_id=145590 project_image_fid=359523]

The Byron Bay project follows Vitale Property Group's delivery of the Mondrian Hotel and Private Residences at Burleigh Heads, with EADE continuing the developer's focus on luxury coastal developments.

Residents will have access to a resort-style swimming pool, gymnasium, sauna, cold plunge pool, concierge services and dedicated workspaces, while the project is targeting an 8-Star Green Star rating.

EADE Byron Bay is being exclusively marketed by Projx Australia in conjunction with WHITEFOX Projects.

WHITEFOX National Projects Director Phillip Rand said demand had been driven predominantly by owner-occupiers.

"We are seeing buyers at EADE place significant value on quality, space, design, resort-style amenities and the rarity of this location," Rand says.

"The sales achieved to date demonstrate that purchasers at this level recognise the long-term significance of what is being created at EADE Byron Bay."

Residences at EADE Byron Bay are currently priced between $4.75 million and $15.95 million.

&nbsp;

&nbsp;

&nbsp;

&nbsp;

&nbsp;

[smartcode_project_cta:default project_id=145590]

Vitale breaks Byron Bay records with EADE sales flurry 

Sydney’s property market is known for high prices, competitive bidding, and mounting pressure on first home buyers. But change is on the horizon.

From late 2025, eligible first home buyers in New South Wales will have access to a new federal government initiative aimed at addressing affordability: the Help to Buy Scheme.&nbsp;

<h2>What is the Help to Buy Scheme?</h2>

The program introduces a shared equity model intended to reduce the upfront cost of entering the property market, particularly in high-demand urban areas such as Sydney.

The scheme operates under a shared ownership structure in which the federal government takes an equity stake of up to 40 per cent for new homes, or 30 per cent for existing dwellings. This arrangement allows eligible buyers to significantly reduce their loan size and avoid the added cost of Lenders Mortgage Insurance (LMI).

Under this model, purchasers can enter the property market with as little as a two per cent deposit, well below the traditional 10 to 20 per cent usually required. The government’s contribution is not a loan but a co-ownership stake in the property. As such, there is no interest or rent charged on its portion.

Because the government’s equity combined with the buyer’s deposit typically meets or exceeds the 20 per cent threshold, LMI does not apply. The remaining balance, generally between 60 and 70 per cent of the property’s value, is financed through a standard home loan with a participating lender.

The government's equity in the property remains in place until the buyer chooses to repay it voluntarily or until the property is sold. Buyers can buy back the government’s share over time, in increments of at least five per cent, depending on their financial situation.

There is no fixed repayment timeline, but the amount to be repaid will be based on the property's market value at the time of repayment, not the original purchase price.

<h2>How do you qualify for the&nbsp;Help to Buy Scheme?</h2>

To qualify for the Help to Buy Scheme, applicants must meet the following conditions:

<ul>
	<li>Be an Australian citizen at least 18 years of age.</li>
	<li>Be a first-home buyer who does not currently own property.</li>
	<li>Intend to live in the property as their primary residence.</li>
	<li>Earn less than $100,000 per year for individuals, or $160,000 for couples.</li>
	<li>Purchase a property within the regional price caps, currently $950,000 in Sydney, though this is expected to rise to approximately $1.3 million ahead of the program’s launch.</li>
</ul>

While the Help to Buy Scheme does not solve affordability challenges across the board, it does offer a more accessible pathway for a defined segment of the market, particularly younger buyers with moderate incomes who have been priced out of traditional lending routes.

The scheme is expected to commence in NSW in late 2025, as part of a national rollout.

Under the new model, purchasers can enter the property market with as little as a two per cent deposit, well below the traditional 10 to 20 per cent usually required

Help to Buy Scheme: What first home buyers in NSW need to know

The First Home Owners Grant (FHOG) is a government initiative designed to help eligible first-time home buyers by offering financial assistance towards the purchase or construction of a new home.

While the FHOG is a nationwide program, it is administered separately by each state and territory, meaning the eligibility criteria, grant amounts, and property requirements can vary depending on your location. This means that the amount available and the conditions attached to the grant will differ, so it is important to check the specific guidelines for your state or territory.

It’s important to note that the FHOG is just one of several incentives available to first home buyers. In most states and territories, the grant is not linked to stamp duty exemptions or concessions, with the exception of the Australian Capital Territory (ACT). The FHOG is typically a one-off payment, reducing the overall cost of purchasing or building a new home before any stamp duty concessions are applied.

Below, we provide a breakdown of the First Home Owner Grants available across Australia, outlining the specific details for each state and territory.

<h2>New South Wales First Home Owner Grant</h2>

First Home Owner Grant: Offers a $10,000 grant for new homes valued up to $600,000. For land purchases and owner-builders, the threshold extends to $750,000.

Stamp Duty Benefits: Provides full stamp duty exemption for homes valued up to $800,000, with concessions available for properties up to $1 million.

<h2>Victoria South Wales First Home Owner Grant</h2>

First Home Owner Grant: Provides a $10,000 grant for first-home buyers purchasing or building new homes valued up to $750,000.

Stamp Duty Benefits: Offers full stamp duty exemption for properties up to $600,000, with concessions available up to $750,000.

<h2>Queensland First Home Owner Grant</h2>

First Home Owner Grant: Offers $30,000 for contracts signed between 20 November 2023 and 30 June 2025. The FHOG applies to new homes valued up to $750,000.

Stamp Duty Concessions: Provides additional concessions for properties valued up to $800,000.

<h2>Western Australia First Home Owner Grant</h2>

&nbsp;

First Home Owner Grant: Offers a $10,000 grant for new homes valued up to $750,000 in the southern regions and up to $1 million in the northern regions.

Stamp Duty Concessions: Available for homes valued up to $600,000 for transactions entered into on or after 9 May 2024.

<h2>Australian Capital Territory First Home Owner Grant</h2>

First Home Owner Grant: Replaced by the Home Buyer Concession Scheme, offering full stamp duty concessions for eligible buyers.

<h2>South Australia First Home Owner Grant</h2>

First Home Owner Grant: Provides up to $15,000 for new homes, including houses, apartments, and townhouses. As of 6 June 2024, there is no property value cap for eligibility.

Stamp Duty Relief: Available for new homes and vacant land purchases.

<h2>Tasmania First Home Owner Grant</h2>

First Home Owner Grant: Offers a $10,000 grant for new homes and off the plan purchases.

Stamp Duty Exemption: Between 18 February 2024 and 30 June 2026, first home buyers of established homes valued up to $750,000 receive a full exemption on property transfer duty.

<h2>Northern Territory First Home Owner Grant</h2>

First Home Owner Grant: The Northern Territory provides a $10,000 grant for new homes only. Additional government grants and concessions are available for first home buyers.

Stamp Duty Exemption: The only stamp duty exemption available to property buyers is the House and Land Package Exemption (HLPE).

Eligibility criteria and application processes differ across states. Prospective buyers should refer to their respective state revenue offices for full details on grant availability, conditions, and additional concessions.

Every First Home Owner Grant for new property by state

In the ever-evolving landscape of sustainable architecture and environmentally conscious design, systems and ratings in place can help determine the energy efficiency of residential buildings in Australia.

Australia has multiple building rating systems that evaluate energy efficiency and sustainability in existing and new building designs.

Some systems assess individual building components, while others provide an overall rating for the entire structure.

A rating system ensures that homes are comfortable and energy-efficient, whether you are buying, renovating, or building.

NatHERS (Nationwide House Energy Rating Scheme) is a common way for new homes to meet energy efficiency requirements.

As new developments continue to shape the urban environment, understanding NatHERS ratings becomes essential for developers and homeowners. This article delves into the concept of NatHERS ratings, their significance, and how they contribute to creating energy-efficient homes.

<h2>What is NatHERS?</h2>

NatHERS is a national initiative implemented by the Australian government to promote energy efficiency in residential buildings. The scheme aims to provide a standardised method for assessing the thermal performance of homes, considering factors such as insulation, orientation, ventilation, and building materials.&nbsp;

NatHERS ratings are the most common way new homes meet the National Construction Code's (NCC's) minimum energy efficiency requirements.&nbsp;

NatHERS assessments provide thermal and whole-home ratings for new homes, townhouses, and apartments.

The rating helps evaluate the energy performance of buildings, guides homeowners and developers to make informed decisions about the energy efficiency of their properties, and encourages the construction of more sustainable, comfortable, and cost-effective homes.

<h2>How NatHERS Ratings Work</h2>

NatHERS ratings are determined through four accredited software tools (AccuRate, BERS Pro, FirstRate5, HERO) using a calculation engine CSIRO developed to predict building temperature based on various factors.

The tools can model complex effects of building mass, insulation, window size, and other elements.

The outcome is a star rating that reflects the building's overall thermal efficiency, indicating how well it can maintain a comfortable indoor temperature without excessive reliance on heating or cooling systems.

The star rating scale ranges from 0 to 10, with a 6-star rating being the minimum requirement for compliance with the National Construction Code (NCC).&nbsp;

Achieving a higher star rating demonstrates a commitment to energy efficiency and sustainability, as the building is better equipped to minimise its environmental impact and reduce long-term energy costs.

Anyone can use NatHERS tools, but accredited assessors can provide certified ratings and professional advice.

<h2>Benefits of Higher NatHERS Ratings</h2>

Energy Efficiency: Buildings with higher NatHERS ratings are more energy-efficient, requiring less heating and cooling energy. This reduces the structure's carbon footprint and lowers occupants' energy bills.

Cost Savings: Homes with higher NatHERS ratings are generally more energy-efficient, resulting in reduced energy consumption for heating and cooling. This translates to lower energy bills for homeowners, making sustainable living environmentally friendly and economically viable in the long run.

Environmental Impact: Lower energy consumption directly translates to a reduced environmental impact. Buildings with higher NatHERS ratings contribute to the overall goal of mitigating climate change by lowering greenhouse gas emissions associated with heating and cooling systems.

Improved Comfort: Buildings with high NatHERS ratings offer better thermal comfort to occupants. Proper insulation, well-designed ventilation, and optimal orientation maintain a consistent and comfortable indoor temperature, providing occupants with a more enjoyable and healthier space.

Market Value and Desirability: Higher NatHERS ratings can enhance the market value of a property. As energy efficiency becomes a more significant consideration for homebuyers, a well-rated building may attract a premium price and stand out in the real estate market.

Compliance with Building Codes: NatHERS ratings are a vital component of the National Construction Code (NCC), and compliance with these ratings is often a mandatory requirement for new developments. Local councils and planning authorities may set minimum energy efficiency standards that must be met to obtain development approval.

The Nationwide House Energy Rating Scheme (NatHERS) is a crucial initiative shaping the future of energy-efficient, resilient, and cost-effective homes. With its recent upgrades, NatHERS has evolved into a world-leading tool for the building sector, supporting the global commitment to achieving net-zero emissions by 2050.

Staff Writer

What is a NatHERS rating in new off the plan apartment developments?

Mixed-use developments have gained significant popularity across Australia in recent years due to their unique blend of residential, commercial, and recreational spaces.

Unlike traditional single-purpose developments, mixed-use projects offer a harmonious integration of various functions within a single locale.

Residential units seamlessly coexist with commercial establishments, retail outlets, dining venues, entertainment hubs, and recreational facilities, with the combination not only enhances convenience but also fosters a vibrant lifestyle and a sense of community.

<h3>Convenience and accessibility</h3>

Mixed-use developments are designed with convenience in mind. They often integrate residential units with commercial spaces, retail outlets, restaurants, and recreational facilities, creating a self-contained community.

[smartcode_project:default project_id=114215 project_image_fid=204874]

The proximity allows residents to enjoy the convenience of having essential amenities and services within walking distance. Whether it's grabbing a cup of coffee, going grocery shopping, or accessing healthcare services, everything is conveniently located, saving residents time and effort.

<h3>Vibrant lifestyle and community</h3>

One of the major advantages of mixed-use developments is the vibrant lifestyle they offer. With a diverse range of amenities and communal spaces, residents have ample opportunities to interact, socialise, and build a sense of community.

[smartcode_project:default project_id=107714 project_image_fid=214122]

The presence of parks, community centres, and shared spaces fosters a lively atmosphere, encouraging residents to engage in various activities and events. The vibrant lifestyle within these developments creates a unique sense of belonging and camaraderie among the residents.

<h3>Potential for higher rental yields and property value appreciation</h3>

Mixed-use developments tend to attract a broad range of tenants and buyers due to their versatile nature. This high demand can result in higher rental yields for investors and potentially lead to property value appreciation over time.

[smartcode_project:default project_id=139989 project_image_fid=212887]

The integration of commercial and retail spaces attracts businesses, which can provide a stable rental income stream. Additionally, the popularity of mixed-use developments often drives up property values, making them a potentially lucrative investment in the long term.

<h3>Enhanced security and maintenance</h3>

Mixed-use developments typically have comprehensive security measures in place. With controlled access points, CCTV surveillance, and professional security staff, residents can enjoy enhanced safety and peace of mind.

[smartcode_project:default project_id=108019 project_image_fid=212658]

Additionally, these developments often have dedicated maintenance teams responsible for the upkeep of common areas, landscaping, and infrastructure. This ensures that the overall appearance and functionality of the development are well-maintained, creating a pleasant living environment for residents.

<h3>Live-work-play balance</h3>

One of the key attractions of mixed-use developments is the ability to achieve a desirable live-work-play balance. The integration of residential and commercial spaces allows residents to live closer to their workplaces, reducing commuting time and improving work-life balance.

The proximity to various amenities and recreational facilities encourages an active and healthy lifestyle. Residents can easily access fitness centres, parks, restaurants, and entertainment options, all within the same development, leading to a more fulfilling and convenient way of life.

alisonwarters@gmail.com

The top five reasons to buy in a mixed-use development

When buying a property, everyone needs to be aware of the additional costs that come as part of the buying process.

Often the largest outlay, after the deposit which goes to the bank, is stamp duty.

<h2 style="line-height: 1.38;">What is Stamp Duty?</h2>

Stamp duty is an extra tax to pay the government when you buy land, a property, and other certain assets.

It happens when the legal ownership is transferred. It can also be known as property transfer duty or transfer duty.

<iframe allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture" allowfullscreen="" frameborder="0" height="415" src="https://www.youtube.com/embed/C32BWkB5--c" title="YouTube video player" width="660"></iframe>

<h2>Who pays Stamp Duty?</h2>

In some circumstances, you may get an exemption. For some states, you won’t have to pay for stamp duty if you are a first home buyer or a pensioner for houses under a particular price. There are also stamp duty concessions, where you may be entitled to a discount.

<h2>How much does Stamp Duty cost?</h2>

Each state has different rules which affect how much you need to pay. These rules can affect the rate you pay, and the timeframe you will need to pay in. Before you buy land or a property, make sure you check the up-to-date information for your state’s stamp duty.

You can use a free stamp duty calculator online to see approximately how much you’ll need to pay. Find out if you’re eligible for an exemption by enquiring on a project via Urban!

Overall, the stamp duty you need to pay will depend on:

<ul>
	<li aria-level="1">How much your land/property is worth</li>
	<li aria-level="1">Where your land/property is located</li>
	<li aria-level="1">What type of land/property it is</li>
</ul>

Want to find out more? <a href="https://www.youtube.com/@UrbanAustralia?utm_source=YouTube&amp;utm_medium=Video&amp;utm_campaign=Subscribe&amp;utm_id=Subscribe">Subscribe to our YouTube channel</a> for more property videos.

Ellen Walker

Off-the-plan property explained: What is stamp duty?

When buying an apartment, most people compare the big-ticket items first. Floorplans. Kitchens. Balcony size. Natural light. The view.

But there's one everyday consideration that often doesn't come up until after moving in: how parcels are delivered.

As online shopping has become part of everyday life, parcel deliveries have shifted from an occasional event to a regular occurrence. Australians spent a record $82.6 billion shopping online in 2025, with almost one in every four retail dollars now spent digitally.

For apartment residents, that can present a challenge.

If nobody is home to accept a delivery, parcels may be redirected to a nearby Post Office, left in a building lobby or common area, or require building management to step in. In higher-density buildings, where dozens or even hundreds of residents may receive deliveries each day, parcel management has become an increasingly important part of everyday living.

That can create a range of frustrations. A missed delivery often means making time to collect a parcel elsewhere, while packages left unattended in foyers or mail areas can create clutter and increase the risk of theft. What seems like a minor inconvenience can quickly become a recurring issue for residents who shop online regularly.

It's one of those details that rarely features in a display suite but can have a noticeable impact once residents move in.

As a result, buyers are beginning to look beyond traditional apartment features and consider how a building supports day-to-day convenience, including whether there are secure options for receiving deliveries.

Australia Post's Parcel Lockers provide one solution.

<iframe allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" allowfullscreen="" frameborder="0" height="315" referrerpolicy="strict-origin-when-cross-origin" src="https://www.youtube.com/embed/CkF2oKmlACg?si=C50sDaoUUn2nuLmq" title="YouTube video player" width="560"></iframe>

Rather than having a parcel delivered directly to an apartment, eligible deliveries can be sent to a nominated Parcel Locker. Once the parcel arrives, residents receive a notification through the AusPost app or SMS and can collect it using a QR code or one-time PIN at a time that suits them.

The Parcel Locker network now includes more than 1,500 locations nationwide, with installations at Post Offices, shopping centres, transport hubs and an increasing number of residential developments. By providing a secure collection point, Parcel Lockers help reduce missed deliveries and avoid parcels being left unattended in common areas.

For developers, parcel infrastructure is becoming another way to improve the resident experience. Rather than relying on concierge staff or leaving parcels in communal spaces, secure collection points help streamline deliveries while preserving the presentation and functionality of shared areas.

For buyers, it's a reminder that the best apartment features aren't always the most obvious.

A generous floorplan or quality finishes might help narrow the shortlist, but the conveniences that simplify everyday life, whether that's EV charging, secure bike storage or reliable parcel delivery, often become the features residents appreciate most once they're living there.

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

<html><body>
The Reserve Bank has lowered both its inflation forecasts and GDP growth forecasts, paving the way for future rate cuts while noting the subdued and uneven housing market in its lengthy monetary policy statement following the Melbourne Cup Day rate cut.
“Reflecting recent developments in both the domestic and global economies”, the RBA now forecasts GDP growth in 2011 to be around 2.75% “with the slow recovery in coal production accounting for a significant part of the downward revision since earlier in the year”.
“In 2012, growth is expected to be around 3% to 3.5% and to be a little stronger in 2013.”
RBA inflation forecasts have also been lowered with underlying inflation (excluding the effect of the carbon price) expected to be around 2.5% in 2012, half a percentage point lower than forecast at the time of the August statement and within the 2% to 3% target band.
“In 2013, inflation is expected to pick up a little, but still be consistent with the inflation target,” the bank says.
The RBA says it reduced the cash rate to 4.5% this week to a more neutral stance, with inflation “likely to be consistent with the medium-term target and that economic growth remained moderate”.
“At its future meetings the board will continue to set monetary policy so that it is consistent with achieving sustainable growth and 2% to 3% inflation over time.”
Once again the RBA noted that the housing market remains subdued, with nationwide measures of housing prices declining over 2011.
“Perhaps not surprisingly, the weakest markets have been those that had the largest run up over the preceding few years. At the aggregate level, the ratio of housing prices to income has been broadly steady for almost a decade now after its earlier large increase,” it says.
“Growth in housing credit is noticeably slower than in earlier years and is running at a little below that in household disposable income.
“Nationwide housing prices are estimated to have fallen by around 1.25% in the September quarter and by 3.5% over the year. Brisbane and Perth have been the weakest markets over the year, with prices in these cities falling by around 5%.
“Auction clearance rates are below decade-average levels in Sydney and Melbourne. Demand for housing finance has been subdued since the beginning of the year, although the value of loan approvals has picked up a little in recent months. While housing turnover rose in the June quarter, it remains at quite a low level,” the bank notes.
“Indicators of dwelling investment have softened over the year, with builders reporting that households are cautious about committing to contracts. However, there are divergences in the level of activity by type of building and state. While the number of building approvals for detached houses has fallen since late 2010 to relatively low levels, the number of approvals for higher-density housing (mainly apartments) has been higher than over recent years.
“Growth in the dwelling stock is currently quite strong in Victoria, reflecting growth in the building of apartments. In contrast, the growth in dwellings in New South Wales has been soft, and well below the rate of population growth.”
According to the RBA, the largest risk to its inflation and GDP forecasts is the sovereign debt and banking problems in the euro area.
“The bank’s central scenario continues to be one in which the European authorities do enough to avert a disaster, but are not able to avoid periodic bouts of considerable uncertainty and volatility. A worse outcome in Europe would adversely affect the Australian economy, and underlying inflation would be likely to decline,” it says.
As a consequence of these bouts of uncertainty and volatility, the bank’s central scenario for global growth over the next couple of years has been revised lower since the previous statement to about 4%.
</body></html>

lschlesinger-FZcF9M3vE6

RBA lowers inflation forecast in November statement, suggesting more rate cuts possible

<html><body>
{yoogallery src=[images/stories/november4bonniedoon]}
Property investor Richard Moseley’s Bonnie Doon holiday shack near Lake Eildon in Victoria – which featured in the comedy The Castle as the serene holiday home of the Kerrigans – has become no laughing matter with another reduced price adjustment.
Moseley proudly secured the property for $169,950 in 2006 but has wanted out since early 2011.
The two-bedroom cottage – located 115 kilometres from Melbourne – was initially listed at $195,000. After a bit of feedback, the price eased to $188,000, then $182,000 by June.
Now its asking price is back almost bizarrely at $169,950.
Moseley, a Sydney telecommunications technician, bought it sight unseen – other than of course having viewed the movie.
Dean Shipley and Andrew Houghton at RT Edgar Yarra Valley have the listing, which has been a popular rental.
Shipley says it is a unique opportunity to purchase the original holiday home of the Kerrigans from Australia's favourite movie, The Castle. The home consists of two bedrooms, open-plan kitchen, dining and living area, bathroom and laundry.
“Outside we have the famous veranda – with the mozzie zapper included – situated on a good-sized block opposite the lake and approximately 500 metres from the boat ramp.
“The property would make a great holiday home-cum-accommodation business when you are not using it yourself, and creates a high level of interest with holiday makers stopping for photos and to experience the serenity.
“With the lake full, recent good snow seasons and high tourist numbers visiting the area, it is the ideal holiday rental.
“And the right marketing – perhaps a good website and some items like stubby holders, T-shirts and caps – could provide extra income as well,” Shipley says.
</body></html>

jchancellor-FAypfDUnLy

Kerrigans’ Bonnie Doon holiday shack back to its old price as investor abandons profit dream

<html><body>
{yoogallery src=[images/stories/november4milne]}
Leisa Milne, the wife of jailed millionaire entrepreneur Michael Milne, has listed their Neutral Bay abode on Sydney’s lower north shore. It’s one of two freestanding buildings set on a 1761-square-metre deep-waterfront block. It had been two apartments with the first bought by Leisa in 1987 for $999,999 and then Leisa paid $4.75 million for the other in 2005.
The renovation turned it into a six-bedroom house with views across Shell Cove to the main harbour. It has two marina berths, a jetty and pontoon.
Michael Milne, jailed for eight years last December for money laundering and tax evasion, is seeking to have the money-laundering conviction overturned in a case in the NSW Court of Criminal Appeal. Milne was caught in the Operation Wickenby tax probe. His wife raised a $5 million surety for his bail when he was initially arrested in 2008. Milne  was a client of Philip Egglishaw, whose Swiss firm Strachans sparked the $300 million Wickenby investigation.
The Shellcove Road house has been listed for sale by expressions of interest through Kingsley Yates of Ray White Lower North Shore.
 
 
 
</body></html>

Wife of jailed entrepreneur Michael Milne puts Neutral Bay home on the market

<html><body>
It took just 29 seconds for Stockland to sell 40 lots in its Brooks Reach community at Horsley in the Illawarra in an online sale. 
The lots sold online ranged in size from 550 square metres to 700 square metres priced around the early to mid $200,000 range. They were sold online to avoid potential buyers camping out to secure a lot.
The lots were part of a batch of 70 sold in the first week of trading in the newly opened community. 
Brooks Reach is the first masterplanned community to be launched in the area in the past decade. 
It will include about 600 new homes at completion and is the first land to come on line as part of the 4,700-hectare West Dapto Land Release Area announced by the New South Wales government last year.
The community will also be the location of a 34-home display village to be completed by March 2012 and anticipated to be the largest for the Illawarra.
The current average price for a home in the area is $430,000, while the average house-and-land package at Brooks Reach will be around $410,000. 
According to Stockland residential communities CEO Mark Hunter the result continued the recent general improvement in customer sentiment and buying activity in New South Wales. 
“The majority of buyers come from within a 10-kilometre radius of Horsley, demonstrating that there is demand for good affordable product in the fast-growing Illawarra region,” Hunter says. 
To further boost affordability, Stockland will also be releasing smaller lots from 300 square metres to 450 square metres in the next quarter. 
Stockland estimates that more than 3,000 construction-related jobs will be generated for the Illawarra community over the life of the project. 
Stockland’s investment in the Illawarra also includes the $330 million redevelopment of its Stockland Shellharbour shopping centre, only a 15-minute drive from Brooks Reach.
</body></html>

Stockland takes 29 seconds to sell 40 Illawarra lots in online blitz

<html><body>
Purchasing your first investment property can be daunting and exciting at the same time. It is also often the most important purchase an investor will make. The property selection process will dictate whether the buyer will be able to grow her portfolio to a second, third, or fourth investment property. 
The selection process is the first and most crucial step to securing a property that will achieve a high level of capital growth and return on investment. 
In-depth research is imperative to gaining a compressive understanding of the property market, in order to identify out-performing suburbs and homes. The best investors spend time attending auctions, monitoring sales trends and tracking suburb growth figures to gain an insight into how much they should expect to pay for their properties. 
First-time investors should consider properties that have proven historical capital growth patterns. Melbourne areas that have performed well in the long term are the bayside, inner east and inner southeast areas, as well as select suburbs on the north and western side of the CBD. 
For investors who feel they have been priced out of the housing market in popular areas, apartments can offer a more affordable solution. Look for apartments of at least 50 square metres in quiet residential locations, with parking and outdoor space. 
It may be tempting to purchase a cheaper investment property further away from the city, however the rental demand in these areas isn’t as high and as a result rental properties have a higher vacancy rate. If your property is vacant, you’re left having to cover a larger gap in mortgage repayments than you had intended. 
Poor property selection is one of the biggest mistakes a first-time investor can make, because it sets them behind from the very beginning. Often soon-to-be investors approach us with very little knowledge of the local property market. As buyer advocates, we are able to use our knowledge and experience to select the best properties. 
Now is a great time for first-time investors to enter the market, as many capital cities across Australia have hit a soft patch. 
Sellers are having to vie for the buyers’ interest, providing buyers with the opportunity to negotiate a price that will deliver a good return on their investment. 
A well-researched investment property appeals to the rental market, ensuring a strong and consistent rental income for the investor, which will enable an investor to expand her investment portfolio, or use equity to purchase a dream home.
Lauren Staley is director of <a href="https://www.infolio.com.au/" target="_blank">Infolio</a>, a buyers’ advocacy and property management company.
For more advice on buying your first investment property, download our free e-book. 
</body></html>

lstaley-3qCRAud7Vh

Your first investment property will set up the rest of your portfolio

<html><body>
Given the drop in approvals in 2009-10 and a lack of available development space, investors looking to get their hands on an off-the-plan apartment close to the Sydney CBD will need to act fast.
According to research by Colliers, there are limited opportunities not only for developers but also for individuals seeking to purchase a new apartment off the plan.
There were only 568 inner-city Sydney apartments for sale and 1,440 off-the-plan units for sale in 10 projects in the first half of 2011, according to Colliers, with only 384 apartments approved for development and 655 at the application stage.
Once the Stamford Residences and the Reynell Terraces (both in The Rocks) are completed there will no new supply in the northern precinct (stretching south from the Harbour foreshore to Market Street and east to Macquarie Street) until 2015, says Colliers.
East Exchange in Darlinghurst, which is being developed by the Maygood Group, is anticipated to be the next development completed in the eastern precinct, the zone incorporating blocks east of College Street, to the north of Oxford Street to William Street, west of Darlinghurst Road to William Street and the entire suburb of Woolloomooloo. Other projects due for completion in the short term in the east include the 87-apartment The Residences overlooking Hyde Park and being developed by Cbus Property and also Dominion, a 110-unit luxury apartment project being developed by Hilliers and Cbus Property
Within the southern precinct three projects are currently under construction including Parkview’s Inmark Tower, a 37-storey tower on George Street, which will have 217 apartments and is anticipated to be completed shortly.
This precinct is defined as south of Bathurst Street from Darling Harbour to Hyde Park, south of Liverpool Street (between Elizabeth and College streets), west of Wentworth Avenue, west of Elizabeth Street to Cleveland Street, north of Cleveland Street (between Elizabeth and Abercrombie streets), Broadway to the corner of Pitt and Hay Streets, north of Hay Street and west of Harbour Street.
The biggest CBD apartment project still selling off the plan is Fraser’s $2 billion Central Park project off Broadway. The first batch of 228 apartments, priced between $460,000 and $1 million, was sold off the plan within six weeks of being released in August 2010 followed by a second batch of 100 apartments released in October 2010 and a third batch of 150 apartments released in December 2010, with prices  between $610,000 and $1.25 million. Upon completion Central Park will comprise about 1,900 apartments, student housing, a hotel, a 16,000-square-metre multi-level retail centre and a 75,000-square-metre commercial office campus.
Colliers expects median apartment prices to continue to rise in the long term due to the scarcity of development sites.
As the new projects around Hyde Park and in Darlinghurst and Woolloomooloo settle in the coming years new price benchmarks are anticipated to be set.
Take-up rates from overseas-based buyers may decline in the short term while prospective purchasers wait to see if the strength in the Australian dollar is maintained.
However, the Sydney CBD’s demand drivers and limited development opportunities are likely to ensure this is a short-term trend.
“The potential level of future supply will continue to be impacted by the availability of funding and potentially some projects may not commence construction.  Future development prospects remain most prevalent in the southern precinct due to a number of brownfield sites,” Colliers says.
For advice on buying off the plan, download our free e-book. 
</body></html>

Inner Sydney running out of space for off-the-plan developments

<html><body>
<img src="/images/stories/delmegequote.jpg">
 
- Anthony Walls at Max Walls International after the Bank West mortgagee sale of the resort-like Mona Vale beachfront residence of veteran property developer Max Delmege for about $3.5 million. <a target="_blank" href="https://www.propertyobserver.com.au/new-south-wales/max-delmege-s-sydney-northern-beaches-property-finally-gets-over-the-line/2011102652087">It had a $9 million valuation after its 2008 renovation</a>.  Despite hopes of starting the auction proceedings at $6 million plus, the house was passed in without a bid through Ray White Prestige agent Michael King at that October 2010 auction.
 
 
</body></html>

Quote of the week: Max Delmege's house result

<html><body>
It’s easy enough to paint some bedrooms, sand the floorboards and call yourself a renovator. Anyone can slap paint on a wall, but knowing exactly what you need to do to improve a space and increase a property’s overall value requires expert knowledge, which many people do not have.
How do you know if the tiler you’ve chosen has quoted the right price? Will your bathroom and kitchen really take two weeks as promised – or will it drag out to two months? And should you always go with the cheapest quote?
As with all aspects of property buying and investing, renovations require careful planning and execution. Investors must bear in mind that the purpose of renovations is to maximise the property’s equity, so the profit is often in the decision-making, not necessarily in picking up the tools.
Why should I renovate?
Renovating your investment property can give you capital growth, even in a flat market. The instant profits that come from a renovation can be used to help fund any negative cash flow. At the same time, undertaking careful upgrades will prevent maintenance for years to come, giving you a hassle-free, passive investment. So far, so good – but very few property owners know how to get these results without any stress.
If the renovations are carried out correctly and with the right advice, you can make tens of thousands of dollars in equity in the first year alone. It can be as simple as new paint and new carpet, or it can be as complex as a complete gut and refurbishment.
How much should I spend?
There’s no hard and fast rule on this but it’s always a good idea to engage an independent and impartial property valuer before commencing your renovation. You can easily become emotional when buying and renovating property, but when you become too emotionally involved, it usually leads you to overcapitalise because you get carried away and believe that the more you spend on the project, the higher its final value. On the other hand, if you undercapitalise, potential tenants or prospective buyers are likely to obtain a discount on the property as it hasn’t been renovated to its true potential.
Many amateurs make renovation plans, believing that a $30,000 kitchen renovation will add $50,000 to the property’s value. A good valuer will know that homes in the street won’t sell above a certain value – even with a new kitchen – and the renovator would be lucky to add $30,000 value.
In this scenario, a valuer may suggest spending just $10,000 on simple improvements such as new cupboard doors, benchtops and flooring, which could add $20,000 to $30,000 to the equity, which is double or triple the investment.
Property valuers are best found through recommendations, internet searches or asking their industry body, the Australian Valuers Institute. I recommend you find a local valuer as they’ll know the prices in your area well, along with the type of demographics that would appeal to your particular property.
What can I do myself to keep costs down?
On much larger jobs you could pull in a quantity surveyor who can provide you with a list of what labour and materials cost on certain jobs. This will ensure you’re not overcharged. The quantity surveyor can also provide a depreciation report on the additions you have made to highlight all the deductions you can claim on your tax return.
You should also always go to tender and get a number of quotes, using the first quote to ensure that everyone is quoting “like for like” on a line-by-line basis. This is where many people get caught out.
Let’s say you’ve asked for three quotes to paint the front mailbox of your duplex. One quote includes priming, painting and weatherproofing. The next quote includes painting the letterbox and repair of the broken latch. The third quote includes painting and weatherproofing, with free paint touch ups to any scratches over the next 12 months.
Can you see how difficult it is to compare these three quotes, when they each outline different work? You need to compare apples with apples, so make sure you detail the specifics of the job, and ask each supplier to supply (in writing) the guarantees they offer, such as a fixed price, penalties should the job go overtime, warranties on workmanship and so on.
Another approach is to look at a “fixed fee” versus “cost plus”. A fixed fee will cap what you pay, but may include a fat contingency for the builder for unforeseen problems. “Cost plus” can work out cheaper if all goes to plan. If you do lots of jobs or you are completing a big project, you could always see if a builder will do a joint venture instead and work for a percentage of a profit after sale or revaluation.
Where do I start?
Start by choosing the right property, making sure it is an unemotional investment, as opposed to an emotional home purchase.
Are you looking to buy, renovate and sell, or buy, renovate and hold? If you’re selling it’s imperative that there is an immediate and almost guaranteed profit in the deal. If you’re looking to hold, you need to buy the right property that will continue to grow strongly forever. The renovation profit in a hold strategy is more about icing on the cake, maximising your rental return and ensuring you have minimal maintenance to do in the future.
Next, work out a rough time and cost budget. If you want to renovate for profit, every extra dollar you spend has to give you at least one to two dollars in added value. Be mindful of how long your renovation will take as every day costs you another 24 hours’ worth of repayment on the mortgage, with no rent coming in.
Consider adding a 20% to 25% contingency for unforeseen expenses that always seem to crop up once you strip off the tiles or wallpaper. It’s all about being prepared for the worst, so check your finances to see what funds you have available, if the renovation takes a turn for the worse.
Chris Gray is CEO of <a target="_blank" href="https://www.yourempire.com.au/">E</a><a target="_blank" title="Empire Property Portfolios" href="https://www.yourempire.com.au/">mpire Property Portfolios</a> and appeared on Channel Ten show The Renovators.
This is an excerpt from<a href="https://www.themessengergroup.com.au/shop/realestate/property-investing-the-australian-way-3/" target="_blank"> </a><a href="https://www.themessengergroup.com.au/shop/realestate/property-investing-the-australian-way-3/" target="_blank">Property Investing The Australian Way</a>, published by The Messenger Group.
For expert commentary and analysis on lessons to be learnt from property reality TV, <a target="_blank" href="https://register.propertyobserver.com.au/lights-camera-auction/">download our e-book Lights, Camera, Auction!</a>
</body></html>

chrisgray-pn7di3ceFk

A DIY guide to renovating for profit: Where to start with property renovations: Chris Gray

<html><body>
The NSW Valuer-General has determined that the land tax threshold for the 2012 land tax year is $396,000. Every investment property above that level will be billed land tax. It follows a 1.766% increase in values, which given three-year rolling averaging will result in a 0.2% increase in the land tax threshold for the 2011 land tax year of $387,000.
During the 2011 land tax year there had been a 2.9% rise in the 2011 threshold for property taxes from $376,000, when overall land values in NSW, including industrial and commercial as well as residential, rose an average of 5.42%.
The low 0.2% increase in the threshold might cause some NSW investors to creep into the tax-paying category if they were sitting just below the current threshold and have shown some value appreciation resilience in the yet-to-be released individual valuations.
NSW Valuer-General Philip Western will issue individual new valuations later this year that will form the basis of tax assessments sent out by the NSW Office of State Revenue early next year. The State Government bases individual assessments on rolling three-year averaging of land valuations to take account of changing property values.
The state government collects about $2 billion in land tax a year. Non-residential properties account for about 60% of land tax revenue.
In the current year an investor owning a property with a land value of $470,000 (with the 2011 threshold of $387,000) property tax is levied on the difference of $83,000 at 1.6¢ on the dollar, plus $100, so the tax payable is $1,428.
The principal place of residence is exempt from land tax. Land tax is a tax levied on the owners of land in NSW as at midnight on December 31 of each year. Land tax applies to land regardless of whether or not income is earned from the land. The land tax assessment is calculated on the combined value of all the taxable land you own above the threshold.
The value of taxable land does not include any structures or improvements on the land such as a house.
There has been a threshold since 2005. From the 2007 tax year onwards the threshold is the average of three years - the current year and two prior years.
<table cellpadding="0" border="1"><tbody>
<tr>
<td>
Year
</td>
<td>
Indexed amount
</td>
</tr>
<tr>
<td>
For the 2010 land tax year
</td>
<td>
$380,000
</td>
</tr>
<tr>
<td>
For the 2011 land tax year
</td>
<td>
$401,000
</td>
</tr>
<tr>
<td>
For the 2012 land tax year
</td>
<td>
$408,000
</td>
</tr>
<tr>
<td>
Average
</td>
<td>
$396,000
</td>
</tr>
</tbody></table>
 The Valuer General says the $408,000 figure was arrived at through a specific formula as required under the Land Tax Management Act.
“Put simply it is the 2011 land tax year indexed amount ($401,000) times the average change in land values from 1 July 2010 to 1 July 2011 – in this case 1.766%,” he notes.
For advice on buying your first investment property, download our free e-book.
</body></html>

NSW land tax threshold increases 0.2% after a 1.77% across-the-board gain

<html><body>
3 Evans Street, Belmont, VIC, 3216
<img src="/images/stories/evansst.jpg" style="border-style: initial; border-color: initial;"> 
This three-bedroom property in the Geelong suburb of Belmont is tenanted at $18,200 per year until January 2012, and sold at auction on Saturday, November 5 for $379,000. There were three bidders. Listing agent Phillipa Gartland of <a target="_blank" href="https://www.gartland.com.au/index.cfm?pagecall=property&amp;propertyID=1878081">Gartland Real Estate</a> marketed the property with price hopes of about $370,000 plus (the vendor recently declined an offer of $350,000). That reflects a gross rental yield of 4.8%, which is at the indicative gross rental yield for Belmont houses, according to RP Data.  The gross rental yield does not consider the costs of maintaining the property, including council rates and other fees such as water bills and managing agent fees. The house is within walking distance of High Street shopping precinct and is a 15-minute drive to the coast. <a target="_blank" href="https://calc.washingtonbrown.com.au/wbdcalculator/calculator.aspx?RID=HPCAZOPTTT">Washington Brown</a> estimates the first-year tax depreciation deduction to be $6,000 and over five years to be $13,000. 
For more information about prices and yields in Belmont, see the <a href="/news">RP Data suburb page</a>.
For more investment prospects going to auction this weekend, see pages 2 and 3.
 
<hr class="system-pagebreak">
 
14/14 Crimea Street, St Kilda, VIC, 3182
<img src="/images/stories/crimeast.jpg">
The tenant of this one-bedroom St Kilda apartment is paying $265 per week and is on a month-to-month lease but is keen to stay. It sold in post-auction negotiations for $301,000 after being passed in at $275,000. Listing agent Rohan White of <a target="_blank" href="https://www.buxton.com.au/">Buxton Real Estate</a> marketed the property with price hopes of $270,000 plus before auction and says it would be perfect for investors. The sale reflects a gross rental yield of 4.6%, higher than the indicative gross rental yield for St Kilda units of 4.1%, according to RP Data. The gross rental yield does not consider the costs of maintaining the property, including council rates and other fees such as water bills and managing agent fees.  The unit is within walking distance of trams, Windsor train station and Albert Park. <a href="https://calc.washingtonbrown.com.au/wbdcalculator/calculator.aspx?RID=HPCAZOPTTT" target="_blank">Washington Brown</a> estimates the first-year tax depreciation deduction to be $5,000 and over five years to be $14,000. 
For more information about yields and prices in St Kilda, see the<a target="_blank" href="/news"> RP Data suburb page</a>.
<hr class="system-pagebreak">
20 Betts Street, Parramatta, NSW, 2150
<img src="/images/stories/bettsst.jpg">
All five units in this block are tenanted, and their combined rent brings in $92,040 in total gross income per year. All five are two-bedroom units and include internal laundries. All but one are on month-to-month leases, according to <a href="https://www.randw.com.au/119011/" target="_blank">Richardson &amp; Wrench</a> agent Abraham Gench. The property was passed in at auction on a bid of $1.81 million on Saturday, November 5, and has a reserve of $2.1 million. If it sells for $2.1 million that would secure an investor a gross rental yield of 4.4%, slightly less than the indicative gross rental yield for Parramatta units, according to RP Data. The gross rental yield does not consider the costs of maintaining the property, including council rates and other fees such as water bills and managing agent fees. Council rates are $4,273 per year for the property, and water fees are $5,502 per year. The property is only a short walk to Parramatta city centre. <a href="https://calc.washingtonbrown.com.au/wbdcalculator/calculator.aspx?RID=HPCAZOPTTT" target="_blank">Washington Brown</a> estimates the first-year tax depreciation deduction to be $45,000 and over five years to be $145,000. 
For more about yields and prices in Parramatta, see the<a target="_blank" href="/news"> RP Data suburb page</a>.
 
 
</body></html>

Latest Expert Insights

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

Guides

Editor's Picks

Guides

Developments

New apartments

New townhouses

News

Latest Expert Insights

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

Guides

Editor's Picks

Receive the latest news stories to your inbox

Guides

Developments

New apartments

New townhouses

News