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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As we look to what's ahead for 2012, Property Observer is republishing some of our most noteworthy stories of 2011.
 
Australia’s wealthiest investors expose a higher proportion of their portfolios to direct property than other merely well-heeled investors with a few million dollars to invest. And their fondness for business real estate rapidly grows along with their wealth. 
The current High Net Worth Investor Report, published by specialist research company Investment Trends, shows that investors with $10 million to $60 million portfolios have 30% of their investments in direct property. On average, they have a 17% exposure to residential property and 13% in business property. 
Compare this with the “poorest” of the high-net-worth investors surveyed by Investment Trends. Investors with $1 million to $2.5 million to invest have 23% of their money in residential property, with just 4% in business property. (Assets held in self-managed super funds are included while family homes are excluded.) 
A little digging elsewhere by Property Observer suggests that many wealthy investors prefer to hold their business property in their self-managed super funds rather in their own names or related entities. 
This favouring of SMSFs for business property is not surprising given superannuation’s concessional taxation and asset protection as well as the special treatment of business property under superannuation law. 
Superannuation assets are inaccessible to trustees in bankruptcy – provided contributions or asset transfers were not made to avoid creditors. And business property is among the few assets that funds are permitted to acquire from their members.
Further, business property is among the few types of assets that SMSFs are allowed to lease to related parties, including the members’ family businesses, without a limit on its value. 
The Australian Tax Office reveals that the poorest of Australia’s top 100 richest SMSFs have more than $20 million in assets, with the average being about $33 million. Annual caps on superannuation contributions mean that the richest of the rich SMSFs – which have assets up to $40 million-plus – will never again be created. 
The latest Self-Managed Super Fund Statistical Report, published by the ATO, shows that SMSFs with $10 million-plus in assets have close to 14% of their portfolios in direct business property. Just 2% of their portfolios are in direct residential property. 
By contrast, SMSFs in the $1 million to $2 million asset range hold a little over 9% of their portfolios in direct business property and a squeak over 4% in residential. 
Australia’s richest SMSFs have a mixed relationship with direct property; some won’t touch it – others own hardly anything else. 
Philip La Greca, technical services director of self-managed fund administrator Multiport, has given Property Observer a perhaps unprecedented insight into the six richest SMSFs receiving its administration services. La Greca has made the details sufficiently vague so they could not be identified. 
These Multiport client funds – which have between $9 million and $10 million in assets – have highly individualised approaches to investing in direct property: 
Rich fund one
Almost 8% of its huge portfolio is invested in a high value apartment. The remainder is invested in Australian shares (60%), fixed interest (17%), cash (%) and overseas shares (7%).
 
Rich fund two
Almost a third of this fund’s assets are in two commercial properties, including the trustees’ business premises, and two residential properties. The rest of the portfolio is invested in cash (30%), Australian shares (22.5%), fixed interest (8.5%) and indirect property (7%). 
The business property could be held in the fund as a family/business succession strategy. The members are baby-boomer parents and their adult child. 
Rich fund three
This fund is rather unusual. Despite its size, it has no direct property. The sole trustee, an elderly retiree, has 95% of the portfolio in blue-chip shares with the remainder in cash. 
Rich fund four
More than 22% of its portfolio is invested in two commercial properties. The remainder is held in Australian shares (64%), cash (12.5%), and fixed interest (1%). 
La Greca says that if one of the two trustee were to unexpectedly die – both are in their 60s – the large share exposure means that a property would not have to be sold to pay death benefits. 
Rich fund five
Again this fund is different from most with multimillion-dollar portfolios. It holds no direct property and a minuscule amount of indirect property. The fund’s other assets comprise fixed interest (67%), Australian shares (19%) and international shares (0.5%). The trustees, both in their early 60s, are taking few chances. 
Rich fund six
The trustees – an elderly couple and their middle-aged children – have 77% of their portfolio in direct commercial property. The remainder is invested in Australian shares (17%), cash (2.5%) and a tiny amount of fixed interest.
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Super-rich build their SMSF nest eggs with property, particularly commercial

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Bearish economist Steve Keen says there are a few flawed reasons for the Reserve Bank interest rate cut.
“They have cut rates this time around not because they are proactive, but because they are reactive to their own flawed modelling.
“The only economic models that the RBA use are neoclassical, so by definition they have deficiencies in their modelling,” Keen wrote on <a href="https://theconversation.edu.au/interest-rate-cut-experts-respond-4112?utm_source=The+Conversation+Daily+updates&amp;utm_campaign=da2f2b150a-DailyNewsletter&amp;utm_medium=email" target="_blank">The Conversation</a> academic website.
“They’re about as relevant to the Australian economy or global economy as the weather conditions on Mars are to those on Earth.
“The RBA’s models previously told them that we could expect to see rising inflation and falling unemployment, so that’s why they expected they would need to continue keeping rates up.
“Now what has happened is that inflation is falling when the recent revision of the Australian Bureau of Statistics figures drastically reduced the recorded level of inflation.”
Keen wrote that this should be a surprise to the RBA, because its models would say that with the level of capital utilisation right now we should have rising inflation.
He notes unemployment is rising, which goes against the RBA expectations.
“If it hadn’t been for the redefinition of the consumer price index that led to the ABS revisions, the RBA would have held the line this time around,” Keen says.
“This is because it generally tends to respond too slowly when it needs to move in the opposite direction.
“The RBA probably would have held off to see what this Thursday’s unemployment figures showed.
“But with the CPI revision, the RBA board has a reason that appears consistent with its philosophy about how inflation is caused.
“They can adjust the rate and attribute it to a flaw in the data, which led to the ABS revision. But I think that the inflation figure has come as a surprise to them.
“The RBA is still expecting a booming economy, when in fact what we are experiencing is a debt deflation.
“I’ve had personal experience in talking with deputy RBA governors on this – they do not see the importance of the ratio of private debt to gross domestic product.
“Yet that is what is driving the entire global economy at the moment, because you have unprecedented levels of private debt that were accumulated during asset bubbles, which banks studiously ignored.
“When those asset bubbles reached their peaks and burst, then the debt levels came down as well. That reduction in debt is what drove the global financial crisis,” Keen says.
“The RBA continues to ignore the role of private debt in aggregate demand and economic performance in general, so they will continue to be wrong about this for a substantial amount of time.
“They have cut rates this time around not because they are pro-active, but because they are reactive to their own flawed modelling.
“We can expect more cuts to come,” he predicts.
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jchancellor-FAypfDUnLy

Rate cut based on flawed reasoning: Steve Keen

<html><body>
Inflation looks reasonably under control, and it has looked like that for some time, says Adrian Pagan, professor of economics at The University of Sydney.
“I can’t see the reason why you would cut interest rates by 25 basis points – I don’t believe in 25-point cuts,” the former Reserve Bank board member wrote on <a href="https://theconversation.edu.au/interest-rate-cut-experts-respond-4112?utm_source=The+Conversation+Daily+updates&amp;utm_campaign=da2f2b150a-DailyNewsletter&amp;utm_medium=email" target="_blank">The Conversation</a> website.
“I think that’s a silly situation we got into with making such small adjustments.
“Monetary policy should be conducted with bigger adjustments, although 25-basis-point moves came in when I was on the board, back in 2000.
“There have been bigger changes, but they’ve tended to go towards a sequence of 25-point changes.
“They build up. You never see one of them – you see a sequence of them. I just don’t favour that strategy.
“As far as I can see the outlook here hasn’t changed much at all over the last couple of months, really,” Pagan says.
“And I don’t think the international situation is as bad as everyone thinks it is, but 25 basis points is not a response to that.
“If you really thought it was bad, you wouldn’t be doing 25, you’d be doing 50 or 75.
“Predicting negative outcomes for the international situation is a mug’s game. I don’t think anything much has changed. Mostly people are getting excited about Greek debt, and so on, but even if investors take 50% haircuts it’s not going to go away.
“Fundamentally I don’t see that Greece can stay in the Eurozone,” he says.
“I don’t think it’s going to have a major effect on economic activity, certainly not in Australia anyway.”
The professor argued the outlook for growth was “pretty good”.
“It’s not spectacular, but you wouldn’t be cutting rates because of that.
“And I don’t think you should be cutting rates because of an inflation outcome – it’s just one number.
“You might argue that they have put rates at the level they’ve been because they thought inflation was going to be stronger, so they’re just reversing a little bit.
“Then they’ll be in a position to raise them again if they have to later on,” he suggests.
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Former RBA board member calls 25-point cut a 'silly situation'

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Hobart may look beautiful in tourism shots, but the Tasmanian capital’s housing market is taking a battering this year and the picture is unlikely to improve.
According to the latest RP Data/Rismark house price index <a href="https://www.propertyobserver.com.au/residential/house-prices-fall-slightly-in-best-result-in-seven-months-rp-data-rismark/2011103052126">Hobart dwelling prices fell 6% in raw terms and 4.8% on a seasonally adjusted basis</a> in August to be 9.1% down for the year. The fall in house prices has accelerated over the last three months, with Hobart dwelling prices down 6.4%
This makes Hobart the worst-performing capital city housing market for the year, some way ahead of Brisbane, which has fallen just over 6% this year, but has had to cope with a series of natural disasters.
According RP Data head of research Tim Lawless, Hobart prices are more volatile due to it being a smaller market, but he says the latest figures don’t come as a surprise.
“Hobart has been weak for some time now,” he says.
Lawless says key reasons for Hobart’s weak housing market are its low rate of migration and lack of job creation.
“It’s not attracting lifestyle buyers or prospective retirees. There are no tree changers coming to Hobart. The market has been dependent on them in the past,” he says.
Although it offers investors strong yields for both houses (5.2%) and units (5.4%) compared with the average for capital cites (4.3% for houses, 5% for units) investors appear to be shunning Hobart and the state in general for opportunities in the mainland state.
At the start of September Property Observer featured <a href="https://www.propertyobserver.com.au/residential/affordability-could-draw-investors-to-tasmania/2011090651232">three of Tasmanian properties </a> offering strong investment potential in desirable locations. Two months later, all three are still listed for sale.
Other figures on Hobart are not as gloomy, but certainly reflect a housing market that is in decline and generating very little in the way of buying and selling activity.
Official ABS figures for Hobart show a 1% decline in established house prices over the September quarter with prices down only 0.3% for the year.
However, burrowing down into the figures shows that established house transfers are averaging around 800 per quarter (the most recent ABS on this measure are for the March quarter) compared with about 1,100 in the March 2009 quarter.
Figures compiled by Australian Property Monitors show that stratified median house prices in Hobart are down 2.4% year on year for the September quarter, and the city has a median price of $335,000.
According to June quarter figures from the Real Estate Institute of Tasmania, the waterfront Hobart suburb of Sandy Bay is the most expensive suburb in Tasmania, with a $647,500 median, followed by Battery Point at $645,500. Sandy Bay’s median price in the 2010 was $655,000 and $599,000 in 2009.
Four other suburbs on the 10 most expensive suburbs in the state have recorded strong gains over the past two years, including Seven Mile Beach, up from $398,000 in the 2009 June quarter to $475,000; West Hobart up from $427,500 to $495,000; Sandford up from $426,000 to $497,500 and Mount Nelson up from $417,500 in 2009 to $615,000. However two of the cheapest suburbs on the 10 cheapest locations recorded significant declines in median prices, with Ravenswood down from $190,000 in June 2009 to $142,500 and Gagebrook down from $160,250 to $150,000.
Queenstown on the west coast of Tasmania is the cheapest location, with a median price of $81,500.
Real Estate Institute of Tasmania president Adrian Kelly recently noted that with many overpriced properties on the market that “anyone currently selling a house in Tasmania needs to be willing to meet market prices or be ready for their house to sit on the market for up to a year or more".
All 10 properties on <a href="https://www.propertyobserver.com.au/tasmania/hobart-houses-still-struggling-to-sell-despite-discounts-sqm/2011110152169" target="_blank">SQM Research's list of the most discounted properties in Tasmania</a> have been on the market for more than 200 days, and six have been on the market for more than a year.
Photo courtesy of Tourism Tasmania.
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lschlesinger-FZcF9M3vE6

Hobart property market struggles as Tasmania not attracting tree-changers: RP Data

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As developers it’s our duty to play our part in Victoria’s economic rebuilding, and restoring affordability for home owners is the first step in this process.
The affordability equation will now be further assisted by the RBA dropping interest rates by 0.25%. The average household will save just under $50 a month on a $300,000 mortgage.
Melbourne’s recent property price correction of roughly 5% to 10% helps restore affordability, coupled with yesterday’s interest rate drop, which  is equivalent to about a 4% drop in monthly mortgage repayments.
It’s now the responsibility of Melbourne’s developers to maintain this affordability and use the rate drop to further improve economic confidence and restore a healthy demand for housing, rather than use it as a chance to push prices up once again.
We’ve seen from experience that once new land allotments reach that $200,000 price bracket, it breaks through the barrier of what the average consumer deems affordable.
Rory Costelloe is executive director of <a target="_blank" href="https://www.villawoodproperties.com/">Villawood Properties</a>, a Melbourne-based developer that controls a land-bank of over 16,000 allotments across the eastern seaboard of Australia.
 
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rcostelloe-p4udf5N4RP

Developers must pass on rate cut to home buyers

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Sydney property owners are the savviest of home loan borrowers and know refinancing can provide better rates and fees, according to a recent HSBC survey.
Polling more than 30,000 Sydney and Melbourne respondents, the survey suggested 80% of Sydney borrowers know their home loan rate, 76% know what fees they pay and 85% think refinancing could reduce their costs further.
Alice Del Vecchio, the head of mortgages for HSBC Bank Australia, says Sydney’s higher average dwelling price of $504,500 compared to the national average of $443,000 was the likely driver for Sydney’s heightened awareness.
“Having a larger financial commitment means home loan rate payments and fees are front of mind for Sydney borrowers,” Del Vecchio says.
“Being more sensitive to interest rate changes, Sydney borrowers clearly see the benefit of shopping around for their home loan.”
Although Sydney borrowers' refinance awareness was higher relative to Melbourne – 85% versus 26% believing they can save money – the survey showed there are still pockets of customers in both cities missing possible savings by failing to explore refinancing.
In Melbourne 60% of borrowers know their rate and 25% know what fees they are paying.
Del Vecchio says the lack of awareness towards refinancing could stem from a perception that it involved paperwork, research and additional costs.
“Customers don’t seem to realise that now is an optimal time to consider refinancing.
“It is a highly competitive lending environment right now and banks are working really hard to win borrowers’ business.”
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Sydneysiders the savviest mortgage refinancers: HSBC

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NSW Treasurer Mike Baird will consider the Sydney Business Chamber proposal that City of Sydney rates fund the necessary light rail and the ferry services for the Barangaroo development.
Lord Mayor Clover Moore says she yet to consulted about the plan, which she suggests would put other planned city improvements in jeopardy.
Sydney Business Chamber executive Patricia Forsythe suggests that procuring council rates through a special act of Parliament could fund <a href="https://www.propertyobserver.com.au/news/barangaroo-must-proceed-even-with-wynward-woes-lord-rogers/2011070750739" target="_blank">public transport to the site.</a>
Public transport is traditionally funded by state, not local government, so Moore has suggested without those rates, the council’s capacity to offer some $180 million to fund its preferred transport initiatives would be called into question.
“Our promise to the government of $180 million for transport and light rail in the CBD included rates forecast right across central Sydney,” Moore says.
Sydney Business Chamber executive Patricia Forsythe says getting transport right for Barangaroo is “the next big challenge”.
She told SMH reporter Josephine Tovey that in an era where credit was tight, where funds becoming available for infrastructure are not as freely given as they were in years past, it is necessary to find  a solution ensuring that transport remains a number one priority.
Construction has recently started on the Barangaroo project, which has been estimated to net $7 million plus annually for the council in rates on completion.
Earlier this year the Barangaroo project's lead architect, Lord Richard Rogers, affirmed the project ought to proceed despite any public transport deficit surrounding the project.
“You have to go ahead, even without it, as otherwise the precinct will be even less sustainable,” Rogers said in an interview proceeding the release of the NSW Auditor-General's report that suggests an extra 13,000 commuters a day would pass through Wynyard station to get to work at Barangaroo within a decade.
The Auditor-General's report highlighted the transport challenge of delivering 22,700 people to Barangaroo, with the former government lacking any specific transportation initiatives.
“It was a pity they [the Labor government] haven’t done more and I hope [the Coalition government] go ahead now, especially with the light rail,” Rogers says.
He says all he could assume was if the density were increased “then ideally a visionary government will put the public transport”.
“It will all help – using the harbour more would be wonderful. I don’t understand why it’s used so little,” he said.
Rogers describes the renewal of the 22-hectare stretch of concrete and East Darling Harbour wharves as ''turning Sydney's back door into another front door''.
Rogers says: “You have to fill in the holes.
"This is a classic hole... It's a big piece of concrete on the potentially most beautiful promontory.
"I sense the new NSW government is very pro strengthening the city," Rogers says.
A report by The Australian in June indicated the new NSW Treasurer, Mike Baird, who has an investment banking background, was one senior figure in the new government who was an unashamed proponent of Barangaroo as a financial services hub for the Sydney CBD.
"Done well and incorporating community concerns, this is our chance to have the Canary Wharf of the Asia-Pacific," Baird suggests.
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Sydney Council baulks at funding Barangaroo transport links

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A refinancing drive rather than a pick-up in demand for investment properties has caused “buy-to-let” investor loans to soar to a three-year record high in the UK, according to figures from the UK’s Council of Mortgage Lenders.
There were 32,000 buy-to-let loans, worth £3.5 billion ($5.3 billion), taken out from April to June 2011, the highest number and value since the last quarter of 2008.
However re-mortgaging accounted for 65% of the overall increase in buy-to-let lending in the quarter, with the value of the 15,230 loans for re-mortgage at £1.6 billion, 27% higher than in the first quarter, and accounting for 53% of the total gross buy-to-let lending – up from 51% in the first quarter.
The quarterly result were described as encouraging by Council of Mortgage Lenders director general Paul Smee, who says first-time buyers are not being replaced by “buy-to-let landlords”.
However, figures are still well down on the highs of 2007, when the value of buy-to-let mortgages numbers reached 346,000 and a cumulative value of £44.6 billion
<table style="width: 470px;" cellpadding="0" border="1"><tbody>
<tr>
<td>
Period 
</td>
<td>
 Number of new BTL mortgages
</td>
<td>
Value of new BTL lending
</td>
<td>
Percentage of new lending by value
</td>
</tr>
<tr>
<td>
2009
</td>
<td>
93,500
</td>
<td>
£8.5 billion
</td>
<td>
5.9%
</td>
</tr>
<tr>
<td>
2008
</td>
<td>
222,700
</td>
<td>
£27.2 billion
</td>
<td>
10.7%
</td>
</tr>
<tr>
<td>
2007
</td>
<td>
346,000
</td>
<td>
£44.6 billion
</td>
<td>
12.3%
</td>
</tr>
</tbody></table>
Source: UK Council of Mortgage Lenders
Gross mortgage lending totalled an estimated £12.9 billion in September. This represented a 2% decrease from the £13.1 billion lent in August but was 4% higher than September 2010 (£12.4 billion), according to the Council of Mortgage Lenders.
Gross lending for the third quarter of 2011 is estimated at £38.6 billion, a 15% increase from the second quarter of this year (£33.5 billion) and a 2% increase from the third quarter of 2010 (£37.9 billion).
The Bank of England reported in its Credit Conditions Survey that demand for buy-to-let lending increased significantly. Respondents to the survey expect demand for secured lending for house purchases and buy-to-let properties to be broadly unchanged in the next three months.
 
Buy-to-let mortgages are provided for investors to purchase a property to rent out privately to tenants and have been a fixture of the UK mortgage market since the late 1990s.
Rates and fees on buy-to-let mortgages are generally higher than those for owner-occupier mortgages due to the perception that they are riskier loans. Interest costs from buy-to-let mortgages can be deducted from the taxable portion of rental income to reduce an investor’s tax bill.
In Australia, the September APRA statistics show that about 31% (or $323 billion) of all mortgages arranged by banks are for property investors.
Recent statistics compiled by mortgage broker AFG for September show the percentage of loans sold to investors rose to 37.7% compared with 34.5% a year ago.
In Australia line of credit (or home equity) loans have traditionally been the most popular types of loans used by investors to buy an investment property.
However, AFG figures suggest investors are opting for fixed-rate loans rather than equity loans as lenders continue to discount their fixed loan offerings.
Over September the percentage of fixed rate loans sold by AFG brokers rose from 9.4% to 16.6% while equity loans decline from 9.6% to just 7.7%.
For advice on buying your first investment property, download our free e-book.
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Number of UK investors refinancing increases as 'buy-to-let' loans hit three-year high

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New figures from the Australian Bureau of Statistics show that Australia’s richest households are expanding their wealth three times faster than the poorest groups. 
And if there was any doubt in your mind of the value of property as a creator of wealth, the figures clearly reveal a substantial amount of Australia's wealth is tied up in home ownership. 
Melbourne households are (on average) the richest in the nation, followed by Perth, Canberra and then Sydney, which has been knocked off its perch as home to more wealthy Australian families. 
With protests against “greed” going on around the world these findings are timely, so let’s first look at how the rich are getting richer and then I’d like to share some of my thoughts about the importance of money and its relationship to true wealth. 
Mind the gap
Across the country, the average value of household assets in 2009-10 was $907,500, while debts owed were $135,700. This put average net worth at $771,800, up from $591,000. 
Digging deeper into these figures revealed the rich experienced a far more rapid increase in wealth than the poor. 
The wealthiest 20% of households had an average net worth of $2.23 million in June 2010, up $300,000 or 15 per cent from 2005-06. 
The middle class is also doing better, with average household wealth up 14% to $720,000. 
On the other hand, <a href="https://www.propertyobserver.com.au/trends/rich-getting-richer-poor-getting-moderately-richer-abs/2011101451936">the ABS stats </a> reveal the lowest 20% of households account for just 1% of total household wealth and had an average net worth of $32,000, up about $1,000 or 4%. 
Not surprisingly the family home was the biggest contributor to household wealth. 
About 2.7 million households owned their home outright, with an average value of $541,000. For those with a mortgage, the average house value was $521,000 with an average mortgage of $188,000. 
For households with superannuation, the average value of their superannuation was $154,000, but for half of these, the value was less than $60,000. 
Where our rich live
Household wealth was more concentrated in metropolitan areas. The average net worth of households located in capital cities was $772,000 as compared with $629,000 in areas outside of capital cities.
 
Melbourne households were the wealthiest, with net worth of $866,000. In Perth households had an average net worth of $853,400; Canberra - $843,370; Brisbane - $665,800; Darwin - $629,600; Hobart - $605,000 and Adelaide - $572,400 
The average Sydney household had a net worth of $766,700 in 2009-10, up from $697,200.  For the first time since the survey began in 2003-04, this was less than the national average of $771,800, and behind other capital cities. 
This can be explained by the poor performance of the average Sydney house price over that time. While the average value of owner-occupied housing in Sydney rose by about $50,000, the increase was more than $100,000 in Melbourne and about $150,000 in Perth. 
The importance of home ownership 
It should come as no surprise that owner-occupied homes were the main asset held by Australians. 
While the number of Australians that own their home outright fell slightly to 32.6%, the ABS data confirms a “strong correlation” between net worth and home ownership, with mortgage-free households being almost two-thirds wealthier than the rest. 
There's no question that these figures reveal a substantial amount of Australia's wealth is tied up in home ownership and this this has led a number of groups to argue about the inequality of our “system”, including the lack of capital gains tax on our homes. 
Isn’t this uneven distribution of wealth unfair?
I know that currently there are protests around the world about the uneven distribution of wealth and how the greed of various companies and even some countries has got the world into a financial mess. 
These people have some valid arguments and as you’ve taken the time to read some of my views on wealth through property, I’d like to share some of my philosophies on money and wealth for what they are worth.
Firstly let me set the record straight – money is important. It helps you get through life, but money doesn’t equate to wealth. 
Money is important in those parts of your life where it works (like paying the bills) and is not at all important in those areas where it is not essential. 
To be truly wealthy you need a lot more than money. 
Let’s face it, to be prosperous you need things like family and friends, health, time to appreciate your life, personal growth, spirituality (which means different things to different people) and very importantly contribution. 
In my mind contribution back to the society that has helped you become wealthy is critical. 
Rich people are not necessarily greedy, as some believe. Have a look at the ultra-rich – Warren Buffet has donated the vast majority of his wealth back to society, as has Bill Gates. And there are many examples of generous, philanthropic people much closer to home. 
One more thing: wealthy people recognise that it’s not an either /or equation.
They can be rich and happy. They can be rich and generous. They can be rich and good people, while others believe they have to choose between money and other aspects of life. Therefore they’ve rationalised a position that money is not as important as other things. 
Let me ask you a question. 
Just because I own an investment property, that doesn’t stop you from owning one – does it? There’s enough of everything to round in this lucky country we live in. 
Rich people live in a world of abundance, while the poor tend to see limitations. 
My own observation is that many of those protesting about the distribution of wealth look at other people’s success with resentment. Some are even a little jealous. Others seem to believe that the rich people make them poor. 
The problem is that if you resent what other people have, you can never have it! 
If you view rich people as “bad” and you want to be a “good” person, then you can never be rich. How can you become something you deride? 
I can understand why some may think all of this is “unfair” but they should remember that currently over two-thirds of households own their own home either outright or with a mortgage. 
The fact is that when these Australians bought their homes prices seemed expensive to them. However they were disciplined in their spending and saved up a deposit, took on the financial commitment of a home and allowed the magic of compounding, leverage and time to grow their wealth. 
The bottom line
If you want to grow your financial wealth you need to get a foot on the property ladder. 
Yes the economic times are uncertain at present, and you can’t just buy any property and become rich. 
In fact in turbulent times like we’re now experiencing fewer investors will do well, but those who buy the right properties in the right locations and finance than correctly will grow their wealth just like all those millions of other Australians have done before them. 
Remember, as a long-term investor, and that's the only way to look at property as an investor, you can buy a property at any time in the property cycle as long as the fundamentals of the deal are sound. 
This year may be a good time to buy property – I have always found it a good time to buy when everybody tells you that property is a bad investment. Now is the time to get set for the future. 
Michael Yardney is a director of <a href="https://www.metropole.com.au/">Metropole Property Investment Strategists</a> who create wealth for their clients through independent, unbiased property advice and advocacy. He is best-selling author, one of Australia's leading experts in wealth creation through property and writes the <a href="https://www.propertyupdate.com.au/">Property Investment Update</a> blog.
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Building wealth through property possible not just for the rich

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Queensland-based mortgage lender FirstMac has revealed strong profit figures for the 2011 financial year with both operating profit before tax and net profit after tax well above five-year average figures. 
The company reported operating profit before tax of $15.7 million and net profit after tax for the year of $9.5 million, compared with five-year averages of $10.9 million per annum and $6.0 million per annum respectively. 
Loans and advances for 2011 fell marginally from the previous year to $4.4 billion, representing a 2% decrease, with new loan originations broadly equivalent to the level of discharges. 
The lender forecasts loans and advances to increase over the course of 2011-12 as a result of increasing origination levels and following the launch of its online direct retail model branded Loans.com.au. This new distribution channel commenced in March 2011, with increasing settlement volumes experienced from June 2011. 
FirstMac noted that while the average cost of funding across its mortgage portfolio increased over the 2011 financial year, residential mortgage assets have re-priced in line with major bank margin increases, benefiting the group’s net interest margin. 
FirstMac managing director Kim Cannon says the group has maintained its distribution network since the start of the GFC and continues to originate new mortgages. 
“FirstMac provides the proof that it is possible to offer home loan products with competitive interest rates and also maintain a healthy net interest margin. If we can do this, it is possible for all lenders to do.” 
FirstMac was one of the few non-bank lenders able to continue lending during the GFC and has successfully participated in the Australian government’s mortgage securitisation program, raising $1.4 billion from the scheme. 
In 2002 FirstMac entered the securitisation market and began self-funding its own loan business, by issuing bonds on global capital markets. Since 2003, FirstMac has publicly issued over $9 billion of residential mortgage-backed securities.
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