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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You read a lot in the media about the financial markets' "pricing" of RBA cash rate changes, or "probabilities" of a rate change in any given month. 
There are a number of ways to work these numbers out, but probably only one exact method. The ASX/SFE has listed a specific "interbank futures contract" that settles on the basis of the average RBA cash rate in the month in question (e.g., March 2012). Thus the pricing of this futures contract reflects the weighted-average expectation of the RBA's cash rate in the relevant settlement month. 
So take the November 2011 contract. The contract's price fluctuates daily. The price is the financial market's best guess at what the RBA's cash rate will be in November 2011. Working out the actual expectation is easy: it is simply 100 less the current futures price. So if the SFE's November 2011 interbank futures contract is, say, 95.25, then 100 less 95.25 equals 4.75. That means the market thinks the RBA's average cash rate over the month of November will be 4.75% (ie, no change). 
On Friday this particular contract closed at 95.455. Accordingly, the market was telling us that it felt the RBA's cash rate in November would be 4.545% (to be precise!), or lower than the current cash rate. More specifically, the market was pricing in 82% of one full 0.25 percentage point reduction in the RBA's cash rate from its current 4.75% level. 
With this background in mind, we can make sense of some interesting analysis. My first chart below shows the daily changes in the price of the November 2011 SFE interbank futures contract since the start of 2011 (i.e., the SFE contract that tries to predict the RBA's cash rate in November). 
<a title="Click to enlarge" rel="shadowbox" href="/images/stories/nov11.gif"><img src="/images/stories/nov11thumb.gif"></a>
Click to enlarge
The black dotted line is the current 4.75% cash rate, which relates to the left-hand-side axis. The red line is the market's prediction of the RBA's cash rate in November 2011. You can see that this has been as high as 5.1% in February 2011 (ie, 0.35 percentage points, or 35 basis points, above the current 4.75% level). 
More usefully, look how far the red line has plummeted below the black line at various times. Every time the red line goes below the black line, the financial markets are saying that the RBA is going to cut rates by November. They did this in March 2011, and have been doing so consistently since June 2011. The magnitudes of the cuts are striking. On different days the financial markets' best guess of the November 2011 cash rate has been as low as 3.57%, or nearly five standard RBA rate cuts of 0.25 percentage points, or 25 basis points, a pop.
The green bars denote the implied RBA cash rate change by November 2011 relative to the current 4.75% cash rate. This is measured in basis points (or fractions of a percentage point), and pertains to the right-hand-side axis. So currently the financial markets reckon we will get about 0.20 percentage points worth of cuts by November 2011, or, as noted before, 82% of a normal 0.25 percentage point cut. 
To make this pricing clearer, my next chart shows the probability of one normal 0.25 percentage point RBA rate cut. If the probability of a cut is 200%, the market is telling us that it expects two 25 basis point cuts, or 50 basis points in total. The big spike in the red line corresponds to the US and Euro crises when the financial markets somehow convinced themselves that the cash rate would be more than 1.2 percentage points lower than its current level. Of course, they were proven wrong, and by a rather wide margin! 
 <a title="Click to enlarge" rel="shadowbox" href="/images/stories/nov12.gif"><img src="/images/stories/nov12thumb.gif"></a>
Click to enlarge
My final chart expresses the financial markets' pricing in terms of a normal RBA cash rate move. In the first couple of months of 2011 we had more than one RBA hike priced by November. Then in March there were no hikes, and, in fact, a small chance of a cut. By May the probability of hikes had surged again. Then in August the market dived from pricing in hikes to a series – of nearly five – RBA cash rate reductions. This coincided with the US debt ceiling and European sovereign debt crises. Since that time the probability of cuts has consistently fallen to less than one today. 
<a title="Click to enlarge" rel="shadowbox" href="/images/stories/nov13.gif"><img src="/images/stories/nov13thumb.gif"></a>
<p-->Click to enlarge
As the RBA has recently noted, and I have previously explained, financial market pricing for rate changes can get "technically" distorted by other influences. For example, if the global central banking community decides to diversify holdings of US, UK and Euro sovereign debt by allocating higher weights to very safe, AAA-rated Australian government bonds, there will be a tremendous increase in the demand for our debt. Central banks can hold this debt to maturity, and so don't, therefore, necessarily care about its price: they are much more focused on the high yields offered by Aussie bonds. This can have the effect of driving up all bond prices, and thus driving down market yields. Since the yield curve gives us the market's expectation of the future price of money, these estimates may be biased downward by an increase in the demand for the otherwise small stock of Australian government debt. 
So what do economists think will happen on Tuesday? In general, economist forecasts tend to be far less volatile than the financial markets’ pricing. They normally publish a view and stick to it until there is overwhelming evidence suggesting they should change it. Based on the latest Bloomberg survey results, economists slightly favour an RBA cut in November, with 15 forecasting a cut and 11 predicting no change.
Christopher Joye is a leading financial economist. The above article is not investment advice.
</p-->
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chrisjoye-JYhJsTrNRC

Financial markets versus the RBA

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Did you realise that some of the repairs you make to your commercial property are not necessarily deductible against your rental income?
Often, it comes down to something as simple as timing.
As a general rule: Any repairs made to a commercial property held for the purpose of producing assessable income are deductible — so long as they are not deemed to be of a capital nature.
In other words, your repairs must directly relate to "wear and tear". Or they must be as a result of a breakdown or damage caused, in the process of gaining rental income from the property.
Furthermore, your commercial property must continue to be rented on an ongoing basis for you to be able to claim these repairs as deductible. However, the property need not always be occupied — so long as it is being actively marketed for lease.
What are some of the exceptions to you being unable to claim deductions? Broadly speaking, they appear to fall into three categories.
These relate to items requiring immediate attention in order to rectify any defects or damage existing at the time you first acquire a commercial property. Such things may include fixing items of equipment, repairing sections of the carpet or simply repainting walls.
While these repairs may not be deductible against rental income, they can be added to your initial cost base for the purpose of reducing your capital gains tax down the track.
Once again, items of this nature are not immediately deductible. However, you may be able to depreciate a significant portion of them over your period of ownership.
Otherwise, they will also form part of your cost base for the purposes of calculating GST.
Here you're talking about things like complete replacement of the roof, air-conditioning or security system.
Again, these items would be treated as capital in nature and would form part of your cost base. But they can also provide you with some handy structural depreciation.
There is one line of thinking that these "replacements" could become "repairs", if they were spread over two financial years. But it would be best for you to explore that further with your tax lawyer or accountant.
Bottom line: It's always worthwhile to seek professional advice from the outset in order to maximise your opportunity to claim repairs to commercial property as tax-deductible.
Chris Lang is an advisor to commercial property investors and gives keynote speeches and regular seminars on the best way to invest in commercial property. He maintains a blog, <a href="https://his-best.biz/" title="Chris Lang's blog" target="_blank">his-best.biz</a>, which he updates regularly about the best way to get the most out of your commercial property investment.
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chrislang-EQKojcgJPV

Not all repairs on your commercial property investment are tax-deductible

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From the broad perspective of changes in median prices, there are few differences between the market for units or apartments and houses.
The rises and falls in median prices have generally matched each other in the past five years.
Differences are, however, apparent when comparing at auction the performance of each class of dwelling.
Units and apartments count for one in three auctions, and the clearance rate has been higher than that for houses so far this year. This repeats a trend from last year.
This year, the overall clearance rate is 57% from slightly fewer than 23,000 auctions. Last year, it was 72%.
There have been about 7,500 unit and apartment auctions, with 59%. This compares with a 56.6 per cent rate for slightly more than 15,000 house auctions.
The level of overall demand for units and apartments matches the result in the Melbourne city centre market, where there have been 472 auctions, with 59% selling.
While Docklands and Southbank are dominated by units and apartments, there have been only 75 auctions this year, with private sales the preferred sales method.
Although volumes were lower last year, the differential in the clearance rate was similar, with 72% of units selling compared with 70% of houses.
Enzo Raimondo is the CEO of the<a href="https://www.reiv.com.au/" title="REIV" target="_blank"> Real Estate Institute of Victori</a><a target="_blank" title="REIV" href="https://www.reiv.com.au">a.</a>
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enzoraimond-7fvRFHPR52

Melbourne units selling better than houses

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Mortgage lending recorded another modest 0.5% increase in September, according to RBA statistics.

The 0.5% increase follows an increase of 0.4% over August. For the year to September, housing credit is up 5.8%.

The September figure is the ninth consecutive monthly increase of either 0.5% or 0.4%.

In December 2010 housing credit increased by 0.6%. March 2010 was the last time it increased by 0.7%.

Over the month, loans for owner-occupiers increased by 0.5% to be up 6.4% for the last 12 months, while loans for investment purposes increased by 0.4% to be up 4.6% for the same period.

The growth in mortgage lending was in line with total credit provided to the private sector by financial intermediaries, which increased by 0.5% during September 2011, after rising by 0.2% during August.

Other personal credit rose by 0.4% over September, after decreasing by 1.1% over August. Over the year to September, other personal credit decreased by 0.9%.

<p style="margin-top: 0cm; margin-right: 0cm; margin-left: 0cm; margin-bottom: 0.0001pt; line-height: 15.6pt; background-image: initial; background-attachment: initial; background-origin: initial; background-clip: initial; background-color: white; vertical-align: baseline;">Business credit rose by 0.4% over September, after rising by 0.1% over August. Over the year to September, business credit increased by 0.2%.
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lschlesinger-FZcF9M3vE6

Mortgage lending up modestly in September

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The Sydney residential auction market held firm at 54% during its busiest weekend auction since autumn.
There were 600 properties for auction, 200 more than the previous weekend and 2011’s third-highest total.
Of the 442 reported auctions, some 280 found new owners.
Melbourne’s clearance rate was 53% of the 362 auction results reported to the Real Estate Institute of Victoria. The outcome of another 70 scheduled sales was still unknown.
Due to the spring racing carnival distraction, the Melbourne stock level was down by half from last weekend's ''Super Saturday'', when 53% of properties sold.
The dearest sale in Melbourne was a four-bedroom timber cottage on a 460-square-metre Chatsworth Road, Prahran block, which fetched $3,137,500.
Melbourne’s $128 million weekend tally was divided between $97 million of houses at a $659,000 median price and $31 million in units at a $458,500 median.
Dr Andrew Wilson from Australian Property Monitors suggests the Sydney results are a sign of market resilience.
Although the previous weekend’s adjusted clearance rate was 53.8%, having initially been put at 56.3% on the Saturday night tally.
Some $226 million of Sydney property sold under the weekend auction hammer at an $807,000 average. The median price for houses was $862,000, and for units it was $600,000.
Continuing his strong month of sales, the most expensive property sold at auction was a four-bedroom house at Saratoga that fetched $3.5 million through Stuart Gan at PRDnationwide Ettalong.
Buyer activity in the southeast Queensland auction market rebounded, according to Jason Andrew Auctioneers.
The number of buyers registering at auction more than doubled and the number of registered buyers making a bid remained above the year-to-date average.
However the overall clearance rate rose only marginally to 38%, Andrew adds.
“The spike in buyer registrations was an encouraging sign, but that the activity was by and large limited to properties with clearly motivated vendors.
“At one auction of a deceased estate, we recorded a crowd of 40 people with five registered bidders.
“The property sold under the hammer, just above the vendor’s adjusted reserve.
“There are an increased number of buyers who are ready and willing to act, but unwilling to pay a premium.
“This remains a market where serious vendors who want to secure a sale must take note of current market value and adjust their price expectations accordingly,” Andrew suggests.
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jchancellor-FAypfDUnLy

Sydney auction clearance rates seemingly holds steady on 600-strong Super Saturday

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Capital city house prices fell just 0.2% in September to $450,000, their best result in seven months, suggesting the housing market may have turned the corner, according to the latest RP Data-Rismark Hedonic Home Value Index.
This was the smallest decline since February 2011 and reversed a trend of accelerating capital losses since the end of March 2011.
Over the first nine months of 2011, capital city home values have now declined by 3.6% while over the 12 months to September 30, capital city home values were off by 3.4%.
Despite the fall in values, houses have delivered total returns of 0.7% for the year to date and 0.9% over the last 12 months.
“Housing market conditions are starting to show some green shoots now.  While the September index declined further, the -0.2% result was the best outcome we’ve seen in seven months,” says RP Data research director Tim Lawless.
“The 8.1% lift in consumer confidence, as well as rising speculation that interest rates are heading south soon, are likely to be the drivers of this improvement,” he adds.
Regional house values rose 0.1% on a seasonally adjusted basis.
Speaking to Property Observer, Lawless said he would be surprised to see an increase in house prices at the macro level over the next few months due to the performance of Sydney and Melbourne and their heavy weighting in the index.
“It is doubtful we will see any real improvement in capital city values for some time,” Lawless says.
“Melbourne is a weak spot. Melbourne had been a solid over performer in 2007, 2009 and 2010 and is now entering a large correction phase. 
“Melbourne had a great deal of momentum, which carried house prices perhaps higher than they should have been. But there are now a lot of homes available to buy. We would need to have stock absorbed for any improvement,” Lawless says.
Looking at the performance of regional house prices, Lawless says regions associated with the commodities boom are the strengths in this market while lifestyle and coastal regions are countering any real growth – a two-speed situation.
Rismark’s Christopher Joye notes the overall strength of the housing market “notwithstanding the <a href="https://www.google.com.au/url?sa=t&amp;rct=j&amp;q=harry%2Bdent%2Bproperty%2Bobserver&amp;source=web&amp;cd=1&amp;ved=0CBwQFjAA&amp;url=http%3A%2F%2Fwww.propertyobserver.com.au%2Feconomy%2Fmark-bouris-tackles-harry-dent-s-bearish-claims-christopher-joye%2F2011101951989&amp;ei=DdytTrrsBqOUiQf08ZDXDw&amp;usg=AFQjCNEU7X19tZ5Zi0w3ROIeMH8ljiuOEg&amp;sig2=8q4lBv4FMgXC1WgmFOoYqA">extraordinary hysteria whipped about house price bubbles</a> and so forth”, pointing to the gross total return of 0.7% generated by Australian housing in 2011  as  “very reasonable in the scheme of things”
“Indeed, it looks positively attractive compared to the extreme volatility, and stunning losses, sharemarket investors have had to endure,” he adds.
Over the month, the strongest performing capital city was Adelaide, with house prices rising 0.5% to $370,000 followed by Brisbane, up 0.4% to $415,000.
<img src="/images/stories/rpdataoct311.gif">
Source: RP Data/Rismark
Sydney recorded the biggest monthly drop of the major capital cities, with prices falling 0.6% to $500,000 to be down 1.2% year on year. The Sydney market is still the strongest-performing capital city market, delivering 12-month returns of 3.5% ahead of Canberra (3.2%) and Darwin 1.2%. 
Fall since peak (Click to enlarge)
<a href="/images/stories/rpdataoct312large.gif" rel="shadowbox" title="Click to enlarge"><img src="/images/stories/rpdataoct312.gif"></a>
Source: RP Data/Rismark
Over the three months to September, Darwin remained the best-performing capital city, with values down 0.3% on a seasonally adjusted basis. Hobart was the weakest capital city, with values down 6.6% over three months to August.
Darwin is also delivering the highest rental yields, with gross rental yield of 5.3% for houses and 5.8% for units.
Melbourne, where house prices are down 4.4% for the year, is returning the lowest rental yields with gross rental yields of 3.8% for houses and 4.3% for units.
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House prices fall slightly in best result in seven months: RP Data-Rismark

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Westpac is expecting history to repeat itself over the next 10 months, with the bank forecasting a 25-basis-point interest rate cut tomorrow, followed by cuts in February, May and August next year. 
Based on an improved inflation outlook for 2012, Westpac chief economist Bill Evans says the bank remains of the view that three more rate cuts will follow the forecast Melbourne Cup Day rate cut, taking the official rate to 3.75% by the third quarter of 2012. 
“The board has changed rates at every one of the last five November board meetings, beginning in 2006. Governor [Glenn] Stevens, who was appointed in July 2006, has changed rates at the November meeting every year he has been in office,” says Evans. 
“It is not a coincidence the bank has been more active in November, February, May and August. 
“Since Governor Stevens was appointed, he has changed rates on 19 occasions – 10 (including five in November) in either November, February, May, or August and 9 in all the other remaining eight months. 
“November, February, May and August provide the bank with new information on the inflation track (released quarterly in October, January, April and July) and precede by four days the quarterly Statement on Monetary Policy. In this statement, the bank is able to set out its growth and inflation forecasts for the next three years and provide a detailed explanation for any change in policy,” Evans says. 
The bank was the first of the major lenders to forecast an interest rate cut before the end of the year. 
<a href="https://www.propertyobserver.com.au/finance/interest-rates-heading-down-in-december-2011-westpac/2011071550822">Since July, the bank had been forecasting a rate cut in December</a>, but altered its view to forecast one tomorrow based on the improved inflation outlook.
<img src="/images/stories/westpacoct31.gif">
Source: Westpac 
“We expect that our [inflation] forecast of 2.4% in 2012 is on track to be achieved,” Evans says in the latest Westpac weekly briefing. 
However, Westpac is betting against interest rate markets, which are predicting another 25-basis-point cut in December. 
“There are a number of factors which we think will stay the bank's hand in December. Firstly, it is likely to be a little sceptical about the sharp fall in reported inflation. Note that the Bureau of Statistics is now seasonally adjusting 62 of the 87 expenditure classes in the headline CPI – that compares with 20 under the previous approach,” Evans says. 
“The low 0.3% read on underlying inflation for the September quarter (compared to market forecasts of 0.6%) can be largely explained by seasonal adjustment with the seasonally adjusted headline printing 0.4%, compared to 0.6% for the unadjusted print.” 
Not all economists are certain of a rate cut tomorrow, including <a href="https://www.propertyobserver.com.au/economy/history-suggests-rba-will-sit-still-next-week-hsbc-s-paul-bloxham/2011102852110" target="_blank">HSBC’s Paul Bloxham</a>, who says the most likely scenario is that the bank will sit still. 
CommSec senior economist Craig James puts the chance of a Melbourne Cup Day rate cut at just 50-50.
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Westpac forecasts four rate cuts in next 10 months

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The government’s First Home Saver Account (FHSA) incentive is finally gaining traction among first-home buyers, with a 56% rise in new accounts in the June quarter, according to the latest figures from the Australian Prudential Regulation Authority.
Over the first six months of 2011, the scheme attracted more than 6,000 account holders, and account holder numbers are up 95% since September 2010. 
As of June, 2011, nationwide there were 31,000 open FHSA, containing a total of $230 million. This figure is still just a fraction of the 220,000 first-home savers projected to open accounts by 2009 and is unlikely to ever reach the 2012 target of 700,000.
The take up of the savings scheme was clouded by the First Home Owner Boost scheme, which ran from October 2008 to the end of 2009 and encouraged first-home buyers to purchase a home sooner rather than save.
The increase has come despite the <a href="https://www.propertyobserver.com.au/news/anz-the-only-bank-to-offer-government-backed-first-home-saver-accounts-as-cba-exits/2011082251243" target="_blank">Commonwealth Bank, the nation's largest home lender, dumping the scheme</a> in August, leaving the ANZ as the only major bank to offer the savings accounts. Only 18 financial institutions offer the accounts, mostly credit unions.
The scheme aims to help first-time buyers save for a deposit for their first homes.  Under the FHSA, the government contributes 17% on the first $5,500 of individual contributions made each year. Account holders are required to keep savings in the FHSA for four financial years before they can use the funds to buy a home.
The government amended the scheme on May 25 to allow savings in an account to be paid into an approved mortgage after the end of a minimum four-year qualifying period, rather than requiring the money to be paid into a superannuation account.
Under the original policy, if the account holder bought a home before the end of that four-year period, the balance of their account was required to be transferred into the borrower’s superannuation fund so that it remained in a concessionally taxed environment.
“We believe further improvements to the scheme to make it more flexible that were passed by federal parliament earlier this year are helping to boost interest in FHSA,” says Dean Rushton, chief operating officer at mortgage broker Loan Market.
Rushton says previous Loan Market surveys found consumers had been confused about the scheme and believed it was too restrictive. 
“While we have seen some lenders recently remove their interest in the scheme, there still remains substantial support from the government to help potential buyers save towards a home loan deposit,” he says. 
The FHSA was launched in October, 2008 with an original target of assisting 700,000 people in its first four years of operation.
“The fact remains this is a positive initiative and it needs to continue to increase its exposure. Loan Market certainly encourages people looking to enter the property market to consider the FHSA,” Rushton says.
The property FHSA recipients buy must be their main residence for a continuous period of at least six months. The six-month period must start within 12 months of becoming the owner of the home, meaning buyers could rent out the property during the first 12 months or after living in it for six months.
For more about buying your first investment property, download our free e-book.
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First home saver accounts becoming more popular

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There is a lot of talk about house prices in Australia. We hear much less about rental costs. Importantly for the inflation debate, house prices, which tell us the cost of buying an asset (namely a home), are not included in the ABS's measures of inflation.
However, the cost of securing accommodation in this country – that is, rents – are naturally a key component of the inflation data. Indeed, rents alone make up 6.7% of the overall inflation index. (There are other housing-related costs in the inflation data, such as the cost of new dwellings excluding land, and the cost of making major improvements to homes.)
The cost of renting is relevant to owner-occupiers, investors and renters. When you buy a home, you save paying rent to another person. Alternatively, think about it this way: when you purchase a property and choose to live in it, you are foregoing the rental income you could earn if you rented it out. In the jargon, this is known as "imputed rents".
For investors, rents are a critical share of their total income, or "total return", which comprises capital gains (i.e., changes in the market value of the asset) and the income they get paid by the tenant.
Finally, for those who do not own the actual asset and decide to rent, changes in rents are important because they reflect changes in the cost of putting a roof over your head. Again, in the jargon, economists like to refer to this as the cost of "consuming housing services".
I have dived into the ABS's inflation data to see what has been happening to rents over time. And, as the chart below shows, it is clear that there has been a structural increase in rents since the early 1990s (click to enlarge).
<a href="/images/stories/oct31.gif" rel="shadowbox" title="Click to enlarge"><img src="/images/stories/oct31thumb.gif"></a>
Prior to about 2007, annual rental increases never exceeded 4% per annum. That changed in 2007 and peaked in December 2008 when rental costs rose to 8.4% per annum (refer to the red line in the chart above). While they pulled back over 2009 and 2010, rental costs have stabilised at a high 4% plus pace, which is well above the 2.3% per annum average rate between 1992 and 2007 (see the orange line).
More worryingly, since the end of last year, the cost of renting has started escalating again with the year-on-year growth rate hitting 4.6% per annum in the September quarter. The explanation for this structural change likely lies in an underinvestment in housing supply, which is something the RBA (more recently) and I (since 2003) have been banging the table about for a while.
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The great Australian rental inflation

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The property market has hit a soft patch, with many adopting a wait-and-see attitude. 
However, there are many reasons why a soft market is not the time to hibernate. A slump in real estate can be the ideal time to act and secure a good investment property. 
For those who have been dreaming of owning a bigger home, or investing in properties in premium suburbs and districts, a soft property market can present good conditions to expand or establish a property portfolio. With more properties for buyers to choose from, sellers face stiff competition and have to vie for the buyers’ interest.
 Sellers, whose properties have been on the market for a longer period, may be more open to negotiations with serious buyers. 
Home buyers and investors need all the facts in order to make a sound property investment. 
Research is of paramount importance when purchasing property. A buyer must keep track of the outperforming and emerging suburbs and highly sought after areas in Melbourne. 
In cases where properties are passed in during auctions, post auction negotiations are crucial. 
With the rental market still going strong, this means that investors can look forward to reaping a profit from their investments within a shorter time. This is definitely another good reason to enter the property market now. 
As the warm weather continues through spring, we’ll see an increase in listings. Buyers are now beginning to purchase properties that were previously unattainable. 
The highly sought after inner suburbs are now within reach for many couples and families that have always wanted to buy in these areas. 
In short, buyers can benefit from the current property market. 
Lauren Staley is director of <a href="https://www.infolio.com.au/" target="_blank">Infolio</a>, a buyers’ advocacy and property management company.
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