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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Not one capital city had a housing price gain in the September quarter.
Brisbane was the poorest-performing capital, with a 2.7% drop in the quarter. Nationally Australia's housing market continued to be sluggish, with prices falling 1.6%, according to Australian Property Monitors.
After its fifth consecutive quarterly fall, the national median house price declined over the quarter to $536,011.
<img src="/images/stories/apmoct27.gif">
Hobart was the only city to escape a fall in house prices, recording no change over the quarter at $327,340.
Brisbane is now mainland Australia’s cheapest capital for houses with prices at $429,339.
Sydney values dipped 1.8%, Canberra 1.4%, Perth and Darwin 1.6% and Adelaide 2%.
Melbourne median values fell the least, by 0.9%, making a total fall of 3.2% in the year to September 30.
Canberra was the only capital to show annual house price gains up 0.9% for the year to $566,095.
The median house price figures compiled by Fairfax-owned Australian Property Monitors suggested buyers were concerned about the global economy, a weak share market and unemployment, according to APM senior economist Dr Andrew Wilson.
Buyer wariness would remain, Wilson says, even as  a potential fall in interest rates would be unlikely to have a significant impact on house prices in the short term.
The median unit price lost 0.6% to $406,342 across Australia.
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No September quarter growth in any capital, with Brisbane hardest hit

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A combination of steady population growth and weak home completions will ensure the national housing market continues to “simmer”, with Sydney market best placed to benefit from these market dynamics, according to ANZ’s latest Australian Housing Snapshot. 
The report says the Australian housing market will avoid a “boilover” (predicted by the likes of <a href="https://www.google.com.au/url?sa=t&amp;rct=j&amp;q=property%2Bobserver%2Bharry%2Bdent&amp;source=web&amp;cd=2&amp;ved=0CCUQFjAB&amp;url=http%3A%2F%2Fwww.propertyobserver.com.au%2Feconomy%2Fmark-bouris-tackles-harry-dent-s-bearish-claims-christopher-joye%2F2011101951989&amp;ei=TJmnTrrgJM-SiQee-amIDg&amp;usg=AFQjCNEU7X19tZ5Zi0w3ROIeMH8ljiuOEg&amp;sig2=_6r8lQN842PDWzQzyrKdsg" target="_blank">Harry Dent</a> and <a href="https://www.propertyobserver.com.au/economy/when-harry-met-steve-a-bears-breakfast/2011091551566" target="_blank">Steve Keen</a>) provided “domestic economic conditionsremain stable enough to support household finances”. 
The report, compiled by the bank’s property and economics team, led by its head of property research, Paul Braddick, says that despite weaker sentiment Sydney prices are expected to start rising slowly through the second half of the 2012 due to increasing rents and deteriorating rental affordability, which will encourage first-home buyers to enter the market and attract investors due to higher rental yields. 
“Sydney house prices have been the most resilient across the capital cities, with prices edging 0.3% higher over the year to August, compared to a 3.2% decline in the capital city average. This reflects a number of factors, including a degree of ‘catch up’ following many years of house price underperformance,” the report says.
 <img src="/images/stories/anzsydney.gif">
Source: ANZ
ANZ notes that NSW annual population growth is expanding at a relatively healthy 1.1%, which combined with a sustained period of under-building will mean the current NSW housing shortage “will worsen with just 58,000 dwellings forecast to be completed over the next two years [to June 2013], falling well short of underlying demand over the same period, which we estimate at 103,000”. 
It also notes tightening Sydney vacancy rates (1.3%) with rental growth starting to accelerate increasing by 5.9% over the year to June 2011, while advertised rents are already running at 8%. 
The recent pick-up in net arrivals in New South Wales should boost population growth and drive rental vacancies lower from mid-2012, according to the report. 
“With ongoing pressure from yield-seeking investors to increase rents and moderate house price falls making housing purchase affordability easier, housing finance to the first home buyer segment should begin to gain momentum. This will be fuelled by the added stimulus of first-home buyer stamp duty concessions that have been rolled out from 1 July 2011,” the report says.
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Sydney house prices to recover from next year: ANZ

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NAB says a rate cut in November and one in February next year would provide only temporary stimulus to the slower parts of the economy and expects that if the RBA were to make these cuts, it would reverse them in 2013.
Before yesterday’s announcement of core inflation up 0.6% and underlying inflation up just 0.3% for the September quarter, the bank had forecast that there would be no rate change until November 2012.
However, it now expects the central bank to cut interest rates next week, with a second cut “likely” in February 2012.
“By then activity will be picking up and employment will be strengthening. Nonetheless, we have tentatively included a February cut in our forecasts very much driven by the near-term inflation outlook – we expect fourth-quarter underlying inflation (due late January) to rise a modest 0.6% with the year ended rate unchanged at 2.5%,” the bank’s economic team led by chief economist Alan Oster says.
In a note explaining its decision to dramatically change its interest rate forecast, NAB says the softer CPI outcome means the RBA can now “relatively safely provide some near-term stimulus to the underperforming interest-sensitive sectors of the economy”.
NAB stresses that the possible November February cuts would act as “temporary stimulus” measures and would not be the start of an “aggressive rate cutting cycle”.
“Market pricing, of around 100 points of cuts, is in our view too aggressive,” NAB says.
Westpac has brought forward its prediction of a rate cut from December to next week explaining that the September quarter figures show that the Australia's inflation picture has been overstated.
“From the Reserve Bank's perspective, this will come as a welcome outcome. Recall that in the August Statement on Monetary Policy the bank, relying on two recent prints of 0.9% quarterly growth for underlying inflation, forecast annual core inflation to print 3.25% for both 2011 and 2012,” says Westpac chief economist Bill Evans.
“We are now confronted with actual core inflation of 2.47% for the year to September 2011 with a benign fourth-quarter estimate of around 0.5% reasonable given the slowdown in the economy. That will allow the bank to lower its inflation forecast for 2011 to 2.5% with a similar outcome likely in 2012,” he adds. Evans says this “trend” in inflation also provides support for its view that this will not be a one-off cut.
“We have held the view that a total of 100 basis points will eventually be shaved from the cash rate. We reaffirm that view while anticipating that the second cut will come in February after the bank assesses the impact of its first cut on confidence and activity, gathers further evidence on this benign inflation environment and observes further developments in the global economy. “In line with our consistent view, we expect all these factors will make a very strong case for a further rate cut in February,” Evans says.
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NAB says rate cuts would only be a temporary stimulus

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You’re a $1 million-plus family home buyer. Super Saturday (October 22) has been and gone and you didn’t manage to buy yourself a home from the 150 or so properties that were on offer. What now? With the Melbourne Cup break coming up, it’s time to a) assess your form b) assess your goals c) improve your decision-making processes and/or d) panic.
Let’s start with d) panic. As a home buyer you effectively have a month to find a home or else you probably won’t be settled in a new place until at least Easter 2012. That is six months away, well into the next school year and – oh my god – the footy will have already started again. Six months more of your family unsettled and in limbo. Have you broken into a cold sweat yet?
Well stop it, right now. Take a deep breath and don’t panic. Panic only encourages one thing – poor decisions. Poor buying decisions now will give you and your family weaker long-term outcomes – both financially and emotionally. Poor decisions can lead you to buy the wrong home or miss out on the home you should have bought. Panic leads to weaker negotiating stances.
With four weeks to go and with no obvious target home, the first thing to consider is an alternative home strategy. You could rent, move into a holiday house, move in with family, or buy an interim home. The key to getting temporary family shelter is not perfection but it does have to be comfortable. You want to be in a home that is not going to add stress that will encourage panic and lead to forced decisions – instead of waiting for the right 10-20 year family home.
Assess your form: If you were a racehorse would you back yourself at the next start to win after your last few months of home-buying performances? Have you missed the podium each time the auction race was on?  Was it because you didn’t get the values right, which meant you were shocked by the result every time? Even if you knew how much you needed to pay, did you miss out because you just didn’t perform when it counted? Truthfully assess your skills and your shortcomings and plug the holes either with alternative strategies or some professional assistance – otherwise you will get the same result.
Assess your goals: It’s possible you may not have actually found a home you have wanted to buy yet. You are not alone. We have been in a low-quality stock environment all year and even as professionals we have found it hard sometimes to find good homes to buy. That’s not the case right now, but it has been. However, your goals still may need some tweaking – especially if money seems to be front and centre of almost every family discussion. You may have $3 million tastes with a $2 million budget. You may have bought into what the papers have been saying about the world coming to end, yet the homes you like have three or four bidders and your buy cheap policy is not working. Whatever it is – take a look at what it is you really want. Write down your three Ps – Price, Property and Position – and then get a suburb report of the last 12 months sales and see if there are any homes within your price range. This will give you a clear idea of how realistic your current goals are.
Finally, improve your decision making processes: This can be in the form of DIY improvements or by getting some professional help. A process that will lead to informed and good decisions is 1) clarity of purpose – know what it is you want and match the home to your goals not the other way around. 2) Accurate assessment of a home as to value and whether it meets your needs and 3) planned and professional negotiation to maximise your chance of success within acceptable risk and reward parameters.
You have four weeks after Melbourne Cup to do some things that will make your life better for the next decade. Whatever those actions are base them on good decisions and on clear goals that will result in your family’s best long-term emotional and financial outcomes – and get on with it!
Mal James is principal of<a href="https://www.jamesbuyeradvocates.com.au/" title="James Buyer Advocates" target="_blank"> James Buyer Advocates</a>, which advocates on behalf of buyers of property over $1 million. Mal writes weekly auction reports, advice and in-depth market analysis on James' website.
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maljames-vHwm28JUAa

If you haven't found your dream home yet, don't panic

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So you’ve just received your development application and construction certificate consent and it’s almost time to start building.  Just how long will the construction phase of your development take? Or more importantly, the question is how long before you start making a return on your investment?  I guess this is like asking, how long’s a piece of string?  Because the answer will depend on many factors:
-   The number of dwellings you are building – single house or multi-unit development?
-   The type of construction process: slab and brick, timber floor and walls, partially prefabricated materials, etc.
-   The size and degree of difficulty of the structures
-   The weather: how many rainy days will delay progress?
-   Material and contractor availability
-   The builder’s ability to manage his contractors – his relationship with his trades and communication skills
-   The knowledge and experience of those managing the project
-   Any issues that may arise during the development process i.e. hitting rock when excavating
Generally speaking, the build phases on Property Bloom projects range from a dual occupancy being completed within four months to a four-villa project being completed in six months.  Our granny flat developments are only two months from receipt of approval to completion of building works.
Now you have an idea on how to estimate your build time, is there a way you can save on holding costs too?  The answer is yes and it’s all about analysing your building drawdown schedule.  A simple revision to a builder’s drawdown schedule can end up saving a considerable amount of money in interest holding costs.
Typically, my builder’s drawdown schedule would go something like this for a dual-occupancy development:
Deposit – $5,000 due when signing the tender (before DA is lodged)
Slab less deposit paid – 20%
Frame and trusses – 20%
Lock up – 25%
Mould out – 25%
Completion – 10%
By requesting a change of just a few percentages over each phase we can save thousands of dollars for our clients.  This was our proposed change to the schedule:
Deposit – $5,000 due when signing the tender (before DA is lodged)
Slab Less deposit paid – 15%
Frame and Trusses – 20%
Lock up – 20%
Mould out – 25%
Completion – 20%
This is a much better schedule for our clients as there is more to be paid towards the end of the build.  Not only does this save on interest costs, but it keeps the builder ‘in the game’ as there is more for him due at the back end of the build.
If I was really good at maths, I could calculate the exact amount saved be tweaking the percentages....but alas, I’m not that clever.  So here is a challenge for all you clever readers...
Assumptions:
Build cost and construction loan is $500,000,
Total build time frame is five months from slab down.
An equal amount of time between each phase, although not likely, just to make it easier to calculate.
Interest rate 7%.
Can you tell me what would be the difference in interest payable for each scenario?  I look forward to hearing from you. Please email your answers to: <a href="mailto:jo@propertybloom.com.au">jo@propertybloom.com.au</a>
Jo Chivers is director of <a title="Property Bloom" target="_blank" href="https://www.propertybloom.com.au/">Property Bloom</a>, which manages property development.
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The amount of time a development takes will vary

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Gold Coast developer Sunland – which has pretty much returned home from its troubled Dubai foray – has purchased Mariners Cove and Marina at Main Beach at a discounted $13 million.
The purchase follows its <a href="https://www.propertyobserver.com.au/https://www.propertyobserver.com.au/leisure/sunland-swaps-palazzo-versace-dubai-for-gold-coast-counterpart/2011101751958" target="_blank">recent move to take complete ownership of the nearby Palazzo Versace</a>.
Industry sources were expecting $20 million for Mariners Cove, which has been in the hands of receivers since late 2009.
SP Marina, a joint-venture of The Raptis Group and City Pacific, had paid $49 million for Mariners Cove in 2007.
"We strongly believe that the location of Mariners Cove and Marina is among one of the premier locations in Australia and we are confident that the redevelopment opportunity will benefit Sunland's future portfolio pipeline,'' Sunland managing director Sahba Abedian says.
Abedian notes that the Mariners Cove and marina centre is a strategic asset and says the group views to own it for the long term.
The group has no immediate plans to develop the centre and believes that there is an opportunity to optimise the income from the existing retail and marina leases in the short to medium term.
The site comprises 1.15 hectares of land lease and 2.8 hectares seabed lease, with 102 marina berths.
Mariners Cove is located in a prime position on the Broadwater of the Gold Coast and is adjacent to the Marina Mirage Retail precinct and Palazzo Versace Hotel.
The site sold through public tender through receivers McGrath Nicol.
Settlement is due on December 24, 2011.
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Sunland cements Gold Coast holdings with neighbouring $13 million Mariners Cove purchase

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The Hideaway Resorts portfolio, which includes Dunk Island Resort, Bedarra Island Resort and Bedarra Hideaway in tropical far north Queensland, is close to sale after overwhelming interest in the run-up to bids closing last week.
“Various bids were lodged from a myriad of different investor types, including a number of high-profile, high net worth individuals, to buy the assets either in one line or to acquire the individual resorts,” CBRE hotels senior director Wayne Bunz says.
“We are in the final stage of negotiation and we are confident that we will have unconditional contracts exchanged, if not settled, by Christmas.”
The freehold tenure island offerings – closed since February’s Cyclone Yasi – ranked as the most significant tourism opportunity in the region this year, Bunz notes.
He adds there has been substantial transactional activity in the far north with the recent sale of the <a target="_blank" href="https://www.propertyobserver.com.au/queensland/five-star-facelift-planned-for-sheraton-mirage-port-douglas/2011072250884">Sheraton Mirage in Port Douglas</a> to David Mariner, plus Wyndham Hotel Group’s acquisition of the Treetops Resort and Spa, also in Port Douglas.
“The general perception seems to be that north Queensland offers significant buying opportunities, with the market showing some signs of recovery.
“With over 100 enquires received on the Hideaway Resorts portfolios, investor perceptions indicate this may well be the case,” Bunz says.
<a target="_blank" href="https://www.propertyobserver.com.au/retail/not-so-perfect-islands-for-sale-in-fnq/2011090751465">Melbourne-based Hideaway Resorts acquired the Beddara Island from Voyages in 2009 for $21.5 million, according to RP Data. Dunk cost $20.5 million.</a>
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FNQ islands overcrowded with 100-strong buyer interest

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All four major banks say the underlying inflation figure of just 0.3% in the third quarter has increased the prospect of the RBA cutting rates on Melbourne Cup Day.
NAB economist Alan Oster says the bank has changed its rate call and is now anticipating a rate cut next week and another one in February.
The bank had previously forecast no rate cut until November 2012.
However Oster says the rate cuts would not be part of a “cutting cycle”.
Headline inflation for the September quarter came out as expected at 0.6%.
ANZ says the underlying inflation data gives the RBA “the green light to cut next Tuesday”.
Westpac points to the underlying measure and the history of the RBA moving rates every November for the past five years as reasons for a possible Melbourne Cup rate cut.
The bank has forecast a December rate cut since July.
“This trend in inflation also provides further support for our view that this cycle will not be a one-off cut. We have held the view that a total of 100bps will eventually be shaved from the cash rate,” says Westpac chief economist Bill Evans.
Westpac expects the next rate cut after November to be in February.
CBA chief economist Michael Blythe said the chances of a rate cut had stepped up significantly, but was more circumspect.
“Clearly the odds on a rate cut next month have gone up a long way.  But the policy decision is more complicated than just assessing one number.  RBA deputy governor [Ric] Battellino stressed yesterday that the bank looks at a range of indicators when determining the policy stance.  And the key question is whether the economy needs some additional support.”
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Now all four big banks see stronger case for Melbourne Cup Day rate cut

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NAB has withdrawn an action in the Victorian Supreme Court to force the Victorian sheriff to evict tenants in two Ivanhoe East properties it has repossessed without 28 days’ notice.
A spokesperson for the bank says the court action was only aimed at “clarifying the legal process requirements for repossession” but the bank withdrew the action due to concerns over the “unintended consequences” it may have for tenants. The case, first heard on Monday, was set to resume on Thursday, October 27.
“We recognise and respect the rights of tenants and will always give them a minimum of 28 days’ notice. Often it is much more,” the spokesperson adds.
The action by the bank drew national coverage and a media backlash over concerns that a decision in favour of NAB would allow it and other lenders to evict tenants of properties in which the landlord has defaulted without any notice.
Media coverage of the action labelled the bank “cold-hearted” and “ruthless” in its actions, with reports pointing out it was at odds with its media campaign highlighting efforts to build “honest” relationships with its customers.
Toby Archer, a spokesman for the Tenants Union of Victoria, told Property Observer a ruling in favour of the bank would have led to the scenario where a lender did not have to secure a repossession order from VCAT to evict a tenant.
Archer says the ruling would have meant the bank could literally knock on the door and tell the tenant to get out.
“It’s a horrible proposition for a tenant who is paying rent and is blissfully unaware that the landlord has defaulted and has had their property repossessed,” he says.
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NAB withdraws court action to evict tenants of repossessed property

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The much-anticipated headline inflation figure for the September quarter has met economists' expectations at 0.6%, but it is the underlying inflation figure of 0.3% whch has made the prospect of a Melbourne Cup Day rate cut more likely. 
The September figure equates to 3.5% through the year to the September quarter 2011, compared with a rise of 3.6% through the year to the June quarter 2011.
Ben Jarman, economist at JP Morgan, says the inflation number is not enough to get the RBA over the line for a rate cut, though it gives the central bank scope to act if things worsen offshore.
But Shane Oliver at AMP Capital suggests the benign September quarter underlying inflation result is consistent with his expectations for a cut in interest rates.
"Today’s CPI figures came in on the low side of expectations which has opened the door for an RBA rate cut next week. The trimmed mean data showed an easing of inflation pressures which now gives the RBA room to move to the downside on Monetary Policy settings, now that they don’t need to be battling inflation like in days gone by," says Tim Waterer, senior FX Dealer at CMC Markets.
ANZ head of Australian economics Ivan Colhoun says the inflation figure suggests the RBA has room to reduce interest rates with the bank expecting to see a 25-basis-point cut in rates on Melbourne Cup day.
HIA senior economist Andrew Harvey says the inflation figure "leaves the RBA with plenty of space to cut rates by the end of this year".
Headline inflation rose 0.9% in the June quarter 2011 (3.6% for the year), compared with a rise of 1.6% in the March quarter 2011 (3.3% for the year.)
The most significant price rises this quarter were for electricity (+7.8%), international holiday travel and accommodation (+5.1%), rents (+1.2%), water and sewerage (+8.6%) and property rates and charges (+5.2%).
The most significant price falls this quarter were for pharmaceutical products (–5.0%), audio, visual and computing equipment (–3.3%), automotive fuel (–1.4%), vegetables (–2.5%), motor vehicles (–1.0%) and fruit (–1.2%).
A survey of 12 economists by AAP accurately forecast headline CPI to have risen by 0.6% in the September quarter and 3.5% in the 12 months to September.
The Commonwealth Bank also accurately forecast a 0.6% increase in headline CPI, with chief economist Michael Blythe noting that the September number had “extra significance” for the RBA in its decision about future interest cuts. 
Blythe also highlighted that the “not-seasonally adjusted CPI will remain the official measure of inflation”. 
The September quarter figure was the first to incorporate revised CPI weights and seasonal adjustment of a larger number of CPI components. Rental payments, household services, health services and education all received a greater weighting in CPI calculations. 
Blythe says changes to the way CPI inflation is calculated will “probably work against a lower inflation trajectory. Better inflation outcomes will rely instead on weaker global and domestic growth actually coming through”.
NAB economists noted the RBA’s acknowledgement that “an improved inflation outlook ‘would increase the scope for monetary policy to provide some support to demand, should that prove necessary’". 
Since 1993, the RBA has set monetary policy to achieve an inflation rate of 2% to 3%, on average over the economic cycle, “a rate of inflation sufficiently low that it does not materially distort economic decisions in the community”.
<img src="/images/stories/inflation.gif">
“The inflation target is also, necessarily, forward-looking. This approach allows a role for monetary policy in dampening the fluctuations in output over the course of the cycle. When aggregate demand in the economy is weak, for example, inflationary pressures are likely to be diminishing and monetary policy can be eased, which will give a short-term stimulus to economic activity,” the RBA explains.



The RBA has kept the cash rate at 4.75% since November 2010.

It will next make a decision about interest rates on Melbourne Cup Day, November 1.
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