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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Freshly fired celebrity apprentice Warwick Capper is unlikely to ever get a job as a bank manager at Yellow Brick Road following reports that the wealth management business set up by Mark Bouris will apply for a banking licence.
However, the likelihood of Yellow Brick Road actually challenging the major banks as a deposit-taking institution may be some time off.
Rather Celebrity Apprentice host Bouris appears to be milking the media exposure his wealth management business is receiving from the prime-time show on Channel 9 – which owns almost a fifth of Yellow Brick Road – by suggesting it could become a bank some time in the future.
Celebrity Apprentice attracted more than 1.3 million viewers for the first two episodes of the latest series.
Former NAB banking executive Matt Lawler, hired by Bouris as CEO of Yellow Brick Road in July, hinted at the possibility of applying for a banking licence in an interview with The Australian Financial Review.
Lawler says the company is aiming for 150 branches by the end of December 2012. The Yellow Brick Road website list 70 branches, with the majority of these located in NSW.
Lawler, who led NAB’s mortgage broking division before joining Yellow Brick Road, says as the business grows it would become big enough to make decisions about whether to write its own mortgages or become an authorised deposit-taking institution.
He claims Yellow Brick Road managers are better placed to sell mortgage credit than the major banks because its branches do not have targets and are more client focused.
Yellow Brick Road currently distributes mortgages via a partnership with Gateway Credit Union.
Bouris made his money from his Wizard mortgage broking business, which he eventually sold to GE Money for about $500 million in 2004.
He founded Yellow Brick in 2007 to sell investment services in former Wizard Branches.
Aussie Home Loans bought the Wizard brand and franchise network from GE Money in December 2008, changing the stores to the John Symond brand.
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Mark Bouris' Yellow Brick Road hints at intentions to become a bank

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Weak sentiment will cause house prices to continue to drift sideways to lower over the coming six to 12 months, according to ANZ, which envisages a rebound in economic growth in 2012 and 2013 to limit the price fallout.
Housing market sentiment continued to soften and prices drifted lower in most capital cities, according to the latest ANZ housing report.
Declining auction clearance rates and rising days on market reflected a mis-match between buyer and vendor expectations.
However, the absence of wide-scale forced selling had, to date, protected measured price outcomes amidst a turbulent global economic environment.
The bank notes Sydney house prices had been the most resilient across the capital cities, with prices edging 0.3% higher over the year to August, compared with a 3.2% decline in the national capital city average.
ANZ suggests flattening employment growth and rising unemployment present clear risks to loan delinquencies and house prices across Australia.
It considers interest rates to be at mildly restrictive levels.
“The housing market has also been hit with a behavioural shift towards increased household caution,” notes Paul Braddick, the bank’s head of property research.
<img src="/images/stories/marketbalance.gif">
Source: ANZ
The report, compiled in conjunction with ANZ economists David Cannington and Dylan Eades, says the combined headwinds had resulted in falls in house prices (-1.9% year on year across capital cities to June 2011) and a decline in new building approvals, which fell 9% in the year to August 2011.
The weak housing market sentiment had also weighed on development activity, with current building approvals equivalent to an annual completions rate of just 143,000, well below the bank’s estimate of underlying housing demand of 190,000 for 2011-12.
But the bank expects the continuing deterioration in the national housing shortage to add further downward pressure on rental vacancies and lead to increased rents.
“Through 2011-12, steady population growth and weak home completions will add further tightness to the housing market,” it says.
“Near record low vacancy rates will eventually drive a renewed acceleration in rents that should encourage investors and first home buyers back into the property market.
“Assuming domestic economic conditions remain stable enough to support household finances, the national housing market should continue to simmer, avoiding the recent boilover experienced by many other developed economies through the global financial crisis,” it notes.
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Housing market will continue to soften in next year amid weak sentiment: ANZ

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As we look to what's ahead for 2012, Property Observer is republishing some of our most noteworthy stories of 2011.
 
Stockland has lifted some of the current gloom surrounding retail by highlighting that the asset class has proven to be a better investment than both industrial and offices over the last two decades.



Retail property has delivered total returns of 11.9% over the last 10 years while offices have managed 9.4% and industrial 10% over the past 10 years.



The gap in total returns between retail and offices is even wider over a 20-year period, with retail property delivering investors 11.4% growth and offices delivering 7.1%.



Equally noteworthy for commercial investors, retail property returns have been far less volatile than office and industrial property over both the past 10 years and the past 20 years.
<img src="/images/stories/stocklandretail.gif">


Managing director Matthew Quinn told shareholders at the Stockland AGM in Sydney that office and industrial ownership and management “has little synergy” with its other business lines, and did not add to the competitive advantages it had gained in its dealings with government and its broader customer base



The developer will continue to sell office and industrial assets to fund the growth of retail, residential communities and retirement developments and has raised its target of industrial and office sales from an initial range of between $400 million and $500 million to $600 million for the 2012 financial year.



“We are constantly looking for ways to improve our return on funds employed, and selling office and industrial assets is presently a much more cost-effective source of capital than traditional debt or equity, which are likely to remain scarce and expensive for some time to come,” Quinn said.



For the three months to September, Stockland’s portfolio of shopping centres delivered a 3.4% increase on moving annual turnover in the September quarter compared with the previous year.



Quinn called this return a “creditable result, given the current difficult retail environment” reflecting the retail mix in Stockland centres, “which focuses on day-to-day value and convenience, as well as the location of many centres in strongly performing regional locations”.



The developer has three major retail projects underway, including: a $275 million redevelopment of its Merrylands shopping centre in Sydney’s west including the addition of a fresh food precinct and an 800-seat food court; an expansion and redevelopment of its Townsville shopping centre; and a $330 million redevelopment of its Shellharbour shopping centre on the NSW South Coast.



“These projects are all going well, and we expect returns to be in line with or ahead of our feasibilities. We have several other key projects set to commence in the next year or two and we are putting our efforts into achieving development approvals, locking down our construction costs and signing agreements for lease with the major retailers,” Quinn told shareholders.



Stockland has also secured development approvals for the redevelopment of its Green Hills and Wetherill Park shopping centres, “both very highly productive retail assets that are ripe for expansion”.



“While these approvals are a big step forward, we are mindful that many retailers are cautious in their expansion plans and, coupled with the volatility in global financial markets, we don’t plan to start these projects unless we are confident we can achieve returns above our cost of capital and comfortably fund them through to completion,” he said.



“We are also mindful of the potential changes to the retail environment from e-commerce, and we are putting a lot of effort into researching these trends to ensure our centres remain resilient and our development plans appropriate.”

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Retail outperformed office and industrial over past decade or two: Stockland

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Property developer Stockland is upbeat about the outlook for new residential housing after it achieved 499 net deposits in September for its residential community projects out of a total of 1,092 deposits taken for the three month to September 30.



The September result was the best monthly result since October last year and follows Stockland’s annual spring marketing campaign.



The figures reflected strong sales in recently launched projects at <a target="_blank" href="https://www.stockland.com.au/home-and-land/vic/allura.htm">Allura </a>in Melbourne, <a target="_blank" href="https://www.stockland.com.au/home-and-land/qld/vale.htm">Vale </a>in Queensland and<a target="_blank" href="https://www.stockland.com.au/home-and-land/wa/whiteman-edge.htm"> Whiteman Edge </a>in Perth. In addition, Stockland says there is “strong interest in its Brooks Reach development in NSW, to be launched next week. 



“Improved momentum has continued this month and while two months doesn’t represent a trend, the figures are encouraging,” the developer reported at its AGM in Sydney.
It also highlighted a “positive shift in market sentiment”, which started in late August, “particularly in the key south-east Queensland market, which was soft following the floods earlier this year”. 
Stockland says the Queensland government $10,000 Building Boost Grant (available to anyone building or buying a new home in Queensland under $600,000 between August 1, 2011 and January 31, 2012) had improved sentiment and activity in this market.  



“While sales in Victoria are down from the very high levels of a year ago, they seem to be stabilising,” it adds.



Managing director Matthew Quinn says the first-quarter figures firstly demonstrate a recent general improvement in customer sentiment and buying activity at Stockland projects and secondly shows that the focus on high-quality, affordable products is bearing fruit with outperformance against key benchmarks.  

“Our goal is to cater for diverse groups [of customers], providing affordable housing solutions built around community hubs with high-quality retail centres, social infrastructure and employment generating facilities,” he told shareholders.
For advice on buying off the plan, download our free e-book.
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September uptick for Stockland residential offerings

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Documents released by the RBA under freedom of information laws show the central bank is concerned about households who took out loans in the period between 2004-2007, when property prices were at their height, fearing they may be "overstretched".

The release of the documents comes just weeks after separate data indicated that many households who purchased homes in the last decade actually returned to renting, prompting fears they had taken out loans that were too large to service.
The documents show the RBA was told in March that there are a number of problems facing the housing market, with a number of areas facing a higher level of arrears.
"Even though the pace of debt accumulation has moderated in recent years, aggregate household indebtedness and gearing remain around historically high levels," it was told.
"This means some households could be exposed to shocks to their incomes and financial circumstances. A continuation of the recent borrowing restraint would thus be a welcomed development, as it would add further resilience into household balance sheets and avoid a build-up of risk in the household financial position."
It was also told that the rise in arrears in Queensland was occurring well before the Queensland floods, "and is consistent with the higher-than-average unemployment rate and weaker property market in the state".
These findings gel with a separate report from the RMIT Research Centre of the Australian Housing and Urban Research Institute, which found that 20% of home owners who bought a property between 2001-09 actually dropped out of ownership at one point, suggesting some of these households found property too expensive to maintain.
Those findings also come after the big four banks expressed some concern over over-stretched households.
CLSA Australia analyst Brian Johnson says while arrears have remained low, Australian households still face incredibly high levels of debt.
"You have never seen indebtedness like you see it now. What we also saw was a dramatic increase in interest rates from the lows of 2008 and 2009. Over and above that, margins have increased by 125 basis points."
"If you talk to mortgage insurers they will tell you loans don't default in their first or second year, it's after that, up to six years. We may be starting to see that now."
Johnson says employment in some industries has remained shaky, pointing to the rise in unemployment two months ago. "Job security is an issue at the present time," he says.
However, the RBA was also told that households are handling that debt quite well. Experts say the level of arrears has remained quite low, helped by the banks' tightening of lending standards and strict LVRs, and note it will continue to do so if employment remains high.
Johnson says as long as employment remains high, mortgage arrears will stay in check, but he notes many industries are suffering, and says ultimately it will come down to how the Government and Reserve Bank handle any housing crisis.
"If you were to get the start of a dramatic fall in housing prices, they would be aggressively cutting interest rates."
HIA economist Harley Dale says he believes the industry is a "long way off" from any problem that would cripple the industry.
This article originally appeared on <a href="https://www.smartcompany.com.au/economy/20111025-rba-warned-of-over-stretched-mortgage-holders" target="_blank">SmartCompany</a>.
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RBA warns of overstretched mortgage holders

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Property investors who manage their own tax affairs have less than a week to submit their tax returns and <a href="https://www.propertyobserver.com.au/property-depreciation-101/2011061450484" target="_blank">accompanying property depreciation</a> schedules.
The ATO deadline for taxpayers who file their own returns is October 31.
Under Australian tax rules investors can also claim the depreciation of their investment properties against their taxable income
According to quantity surveyor Washington Brown, there are two types of allowances available: depreciation on plant and equipment, and depreciation on building allowance.
“Plant and equipment refers to items within the building like ovens, dishwashers, carpet and blinds while building allowance refers to construction costs of the building itself, such as concrete and brickwork,” the firm explains.
“Both these costs can be offset against your assessable income.”
Depreciation can be claimed even if a property has been renovated.
Depreciation schedules can only be completed by a qualified quantity surveyor.
Tax returns can also be amended up to two years back to claim for property depreciation over these periods.
As there are some exceptions, property investors are advised to seek clarification from their tax agent or the ATO.
For more on property depreciation read <a href="https://www.propertyobserver.com.au/property-depreciation-101/2011061450484" target="_blank">Property Depreciation 101</a> prepared by Tyron Hyde, director at <a title="Washington Brown" target="_blank" href="https://www.washingtonbrown.com.au/">Washington Brown</a>.
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October 31 tax return deadline looms for property investors

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There are three things that drive me – I like to be a lonely voice; I enjoy being a stick in the mud (and grumpy about it); and I am always more interested in what people do than what they say.

This somewhat self-centred introduction is an attempt to explain why I keep banging on about the need to change our urban planning policies in this country.  We need to accept the fact that most don’t want to live in little air-conditioned boxes in the sky.  I am not against high-density development – God knows my business has helped many of them come to fruition; it is just that the argument for anything else is losing its voice.

So, here I am again, shouting out for the detached, the semi-attached and townhouses.

A few years back, the United Nations announced, with much fanfare, an invisible yet momentous milestone – for the first time in history more than half of the world’s human population was now living in urban areas.

This trend helped spark the “triumph of the urban”, and the extolling of the virtues of high-density city living over almost all other dwelling forms.  But such supposed triumph is fraught with ironies, the biggest of which is that rather than a simple rush of people from the hinterland into the high-density city centre – and within almost every urban area (Australia included) in the world – the most significant movement of the population has been outward, from dense city centres into peripheral suburban areas, and beyond them into small, dispersed settlements.

The official geographic boundaries, such as those used by the ABS, cloud these trends, and hence they don’t get the analysis and airplay they deserve.

Our analysis, which we do every second or third year (as it is a very time-consuming exercise), shows that more than half of the new urban development across Australia takes place on the fringe.  This is up from 45% 10 years ago.  Inner city expansion is steady at around 15%, with redevelopment of our middle-ring suburbs falling behind.

Most Australians want to live in a dwelling with a close nexus to the ground.  It is who we are – and most migrating to our shores want the same.  The increase in household size suggests the demand for larger homes will increase and high land costs will force more development outwards.

The urban triumphant like to advocate that detached housing is bad for the environment and the denser living arrangements have less environmental impact.  Yet independent research suggest otherwise.

Our planning schemes are also failing us and in some cases, badly.  Despite grand plans to have most of us live in very dense urban settings, the SEQ regional plan can, at best, only deliver two-thirds of the housing starts it needs on “infill” sites.  Many municipalities across the south-east are struggling to hit the halfway mark.

Recent headlines announced that the balcony was replacing the backyard as the new Australian dream – poppycock.  When you remove Melbourne’s speculative boom in student-sized inner city apartments from the mix, there has been no real change in the proportion of attached dwellings built across the country in close to 20 years.

The vast majority simply cannot afford to live downtown.

It is time to accept the facts – and observe what people actually do and not what the “latte left” and political élites say the public want – and start really planning the redevelopment of our middle-ring suburbs and the continuation (even acceleration) of development on the city-fringe and beyond.

We might need to offer some serious incentives to help kick-start things across our middle suburbs.  This, importantly, involves giving back credence to zonings – redevelopment should not be allowed to be stopped by local action groups if the land is already designated to hold higher density development.

Ironically, the continuing spread of the population could conceivably result in a more equitable and more sustainable pattern of living.  This would definitely be the case if Australian management would join the rest of the world and treat white-collar workers like adults, allowing them to work wherever they wish, as long as they meet their KPIs.  In addition, smaller-scaled energy systems – renewable or not – surely would consume less than the giant grids needed to maintain massive urban landscapes.

In any case, despite all the planning regulations put in place in cities throughout the western world to control (stop) growth at the edge, the periphery continues, inexorably, to expand.

Get over it.  We have far more important battles to fight.

Michael Matusik is the director of independent property advisory Matusik Property Insights. Matusik has helped over 500 new residential developments come to fruition and writes the weekly  <a title="Matusik's Missive" target="_blank" href="https://matusikmissive.wordpress.com/">Matusik's Missive</a>.
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Australians want to move out, not up

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The second-in-command at the RBA, Ric Battellino, has delivered a balanced and thoughtful <a href="https://www.rba.gov.au/speeches/2011/sp-dg-251011">speech</a> in which he gives the bank's take on local and global economic developments. I would summarise my analysis of this speech as follows: 1. The RBA's base case is for the global economy – a crucial variable for setting Aussie monetary policy – to grow at a trend pace, with unusually high (but equally unknowable) downside risks at this juncture. 2. However, the RBA is not going to forecast these downside risks, because that's an impossible task. It will watch and wait for the world to confirm what is actually going to happen. 3. The central story around the Aussie economy remains intact in terms of the secular private investment boom. The floods combined with sundry offshore crises temporarily knocked the local economy off balance during the first half of 2011. Subject to the aforementioned global risks, the future should not be radically different to what the RBA previously expected, which, I suspect, means a forecast for gradually rising core inflation with the path determined by today’s third-quarter CPI combined with previous revisions. 4. The Aussie economy is, as I have argued here before, already getting the benefit of "notable" stimulation via reductions in fixed-rate loans to 6.3% or less, reductions in variable rate loans (by 10 to 15 basis points), and a depreciation in the currency from its USD1.10 highs. 5. As my CPI preview anticipated, everything really hinges on the third-quarter numbers and what this tells the RBA about the pulse of inflation. A very low number (similar to what New Zealand got yesterday, which is typically well-correlated with the Aussie results) would allow the RBA to pull down its inflation forecasts to 2013 to within the target 2% to 3% per aannum band, albeit on a still rising trajectory (perhaps it would keep a 3-handle in 2013). 6. To one school of thought, this would in turn enable the RBA to make a once-off technical adjustment to the cash rate to bring it back to "neutral" at the November board meeting. Complicating this decision is the fact that a lot of the recent data flow has been very healthy, and an inflation-targeting central bank would not ordinarily mind having a "mildly restrictive" rate setting given its longer-term view of the world (and the fact that rate changes today target prices over a two-year horizon). I would venture that any technical adjustment is going to be much more motivated by tactical and political considerations (mainly building up long-term goodwill for when the real inflation battle begins); 7. The argument against a technical adjustment is that it is not going to make a big difference to anything (ie, one 25bps move), it is not going to be passed on fully by the banks (thus we are probably only talking about 15-20bps), and the RBA may look very silly if Q4 core prints high, which is a risk, and it needs to start bumping rates back up again. The bottom line is that as Battellino notes, monetary policy remains extremely complex, and he and RBA governor Glenn Stevens are earning every dollar of their way-below-major-bank-standard pay packets (i.e., for a top 15 major bank executive). To be clear, Battellino is not preparing the market for cuts in particular. He is seeking to give the RBA as much room to move as possible. Right now, flexibility is the name of the game. The RBA board members don't want to look like idiots irrespective of whether they have to cut, hold, or, heaven forbid, hike.
Christopher Joye is a leading financial economist. The above article is not investment advice.
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chrisjoye-JYhJsTrNRC

All eyes on third-quarter inflation numbers

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The decision by the Macquarie group to sell its stake in the Charter Hall Office REIT to two sovereign funds shows the keenness of offshore investors for Australian commercial assets.
The investment bank pulled out a consortium bid it led to acquire the Charter Hall Office REIT after selling its stake in the trust to two sovereign funds that formed part of the consortium – the Canada’s Public Sector Pension Investments Board (PSP Investments) and Singapore’s GIC fund.
Both funds will inject an additional $100 million to acquire Macquarie’s share of the fund and take their investments to $400 million each, The Australian Financial Review reported.
According to Mark Wist, senior asset consultant at Atchison Consultants, the Australian market is appealing to offshore funds due to its “high yield structure, good market transparency, governance systems and the fact that it is well researched”.
In addition, while the Australian dollar has strengthened against many currencies, particurlarly the US dollar, which has “crushed” American investment, Wist points out that it has not be as strong against either the Canadian or Singapore dollar.
The decision by the two funds to up their stakes in the Charter Hall Office REIT follows Chinese conglomerate HNA Group’s purchase of 1 York Street for $117 million from Colonial First State and the Canada Pension Plan Investment Board paying $455 million for a half share of the Northland Shopping Centre in Melbourne.
The latest investments are small change for the two sovereign funds – GIC has more than $100 billion invested in global assets while PSP Investments has $55 billion of assets under management.
The consortium still has an offer on the table for the office trust after upping its bid earlier in October by 4¢ to $2.43 per unit, equating to a 7.6% discount to pro forma net tangible assets or a 4.9% discount to gross asset value as of June 30 2011.
It follows an August bid by the then Macquarie Capital Group-led consortium for the listed office trust of $2.39 per unit. This equates to $3.52 per unit when including the expected return from the sale of the trust’s US office portfolio to Beacon Capital Partners for $1.71 billion, which will conclude in May 2012.
The revised October bid includes an option to conclude the Australian sale before the US sale completes.
The Charter Hall Office REIT comprises 18 investment-grade office buildings in Australia, including flagship properties 1 Martin Place and the Citigroup Centre in the Sydney CBD, and was valued at $1.9 billion in its 2011 annual report.
Macquarie will remain an advisor to the consortium.
In July this year, the Charter Hall group won approval to continue to manage the Charter Hall Office A-REIT after unit holders voting overwhelmingly against a resolution for a management <a href="https://www.propertyobserver.com.au/news/proxy-votes-in-charter-hall-office-reit-battle-line-up-to-reject-takeover-proposal/2011072750930">takeover by a consortium of hedge funds.</a>
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Macquarie pulls out of consortium to bid for Charter Hall Office REIT

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It would seem Australia is set to live up to its global status as the “lucky country”, with the number of millionaire households expected to almost double in Australia over the next decade. 
While $1 million might still seem like a lot of money to many people who are struggling with rising household debt, and it would definitely go a long way in developing countries where you can buy a whole lot more for a whole lot less, in reality a cool million just isn't worth as much as it used to be. 
That being said, the Deloitte Center for Financial Services along with Oxford Economics studied total household wealth, including the value of a primary residence and business equity, and here are the 2011 and projected 2020 rankings of countries with the most millionaire households: 
<table style="width: 470px;" border="0" cellspacing="0" cellpadding="0"><tbody>
<tr>
<td width="71" nowrap valign="bottom">
 
</td>
<td width="428" nowrap colspan="4" valign="bottom">
 Number of millionaire households (1000s)
</td>
<td width="80" nowrap valign="bottom">
 
</td>
</tr>
<tr>
<td width="71" nowrap valign="bottom">
2011
</td>
<td width="158" nowrap valign="bottom">
Total
</td>
<td width="64" nowrap valign="bottom">
37,978
</td>
<td width="48" nowrap valign="bottom">
2020
</td>
<td width="158" nowrap valign="bottom">
Total
</td>
<td width="80" nowrap valign="bottom">
65,521
</td>
</tr>
<tr>
<td width="71" nowrap valign="bottom">
1
</td>
<td width="158" nowrap valign="bottom">
United States
</td>
<td width="64" nowrap valign="bottom">
10,541
</td>
<td width="48" nowrap valign="bottom">
1
</td>
<td width="158" nowrap valign="bottom">
United States
</td>
<td width="80" nowrap valign="bottom">
20,551
</td>
</tr>
<tr>
<td width="71" nowrap valign="bottom">
2
</td>
<td width="158" nowrap valign="bottom">
Japan
</td>
<td width="64" nowrap valign="bottom">
5,705
</td>
<td width="48" nowrap valign="bottom">
2
</td>
<td width="158" nowrap valign="bottom">
Japan
</td>
<td width="80" nowrap valign="bottom">
8,649
</td>
</tr>
<tr>
<td width="71" nowrap valign="bottom">
3
</td>
<td width="158" nowrap valign="bottom">
Germany
</td>
<td width="64" nowrap valign="bottom">
3,485
</td>
<td width="48" nowrap valign="bottom">
3
</td>
<td width="158" nowrap valign="bottom">
Germany
</td>
<td width="80" nowrap valign="bottom">
5,789
</td>
</tr>
<tr>
<td width="71" nowrap valign="bottom">
4
</td>
<td width="158" nowrap valign="bottom">
United Kingdom
</td>
<td width="64" nowrap valign="bottom">
2,904
</td>
<td width="48" nowrap valign="bottom">
4
</td>
<td width="158" nowrap valign="bottom">
United Kingdom
</td>
<td width="80" nowrap valign="bottom">
3,814
</td>
</tr>
<tr>
<td width="71" nowrap valign="bottom">
5
</td>
<td width="158" nowrap valign="bottom">
France
</td>
<td width="64" nowrap valign="bottom">
2,653
</td>
<td width="48" nowrap valign="bottom">
5
</td>
<td width="158" nowrap valign="bottom">
Italy
</td>
<td width="80" nowrap valign="bottom">
3,552
</td>
</tr>
<tr>
<td width="71" nowrap valign="bottom">
6
</td>
<td width="158" nowrap valign="bottom">
Italy
</td>
<td width="64" nowrap valign="bottom">
2,478
</td>
<td width="48" nowrap valign="bottom">
6
</td>
<td width="158" nowrap valign="bottom">
France
</td>
<td width="80" nowrap valign="bottom">
3,346
</td>
</tr>
<tr>
<td width="71" nowrap valign="bottom">
7
</td>
<td width="158" nowrap valign="bottom">
Canada
</td>
<td width="64" nowrap valign="bottom">
1,745
</td>
<td width="48" nowrap valign="bottom">
7
</td>
<td width="158" nowrap valign="bottom">
China
</td>
<td width="80" nowrap valign="bottom">
2,500
</td>
</tr>
<tr>
<td width="71" nowrap valign="bottom">
8
</td>
<td width="158" nowrap valign="bottom">
China
</td>
<td width="64" nowrap valign="bottom">
1,312
</td>
<td width="48" nowrap valign="bottom">
8
</td>
<td width="158" nowrap valign="bottom">
Canada
</td>
<td width="80" nowrap valign="bottom">
2,413
</td>
</tr>
<tr>
<td width="71" nowrap valign="bottom">
9
</td>
<td width="158" nowrap valign="bottom">
Spain
</td>
<td width="64" nowrap valign="bottom">
1,022
</td>
<td width="48" nowrap valign="bottom">
9
</td>
<td width="158" nowrap valign="bottom">
South Korea
</td>
<td width="80" nowrap valign="bottom">
1,730
</td>
</tr>
<tr>
<td width="71" nowrap valign="bottom">
10
</td>
<td width="158" nowrap valign="bottom">
Taiwan
</td>
<td width="64" nowrap valign="bottom">
719
</td>
<td width="48" nowrap valign="bottom">
10
</td>
<td width="158" nowrap valign="bottom">
Australia
</td>
<td width="80" nowrap valign="bottom">
1,620
</td>
</tr>
</tbody></table>
 
 
And there's Australia coming in at number 10 by 2020, with an expected 1.62 million households boasting millionaire status across the nation. This is more than double today's number of millionaire households (698,000.) 
Now that’s not bad when you consider that our population is significantly smaller than those of all other countries that make up the top 10. 
A large part of this new wealth in Australia will come from property. New figures from the Australian Bureau of Statistics show that Australia’s richest households are expanding their wealth three times faster than the poorest groups, and the statistics clearly reveal that wealth was more concentrated in households that own property. 
Interestingly, while some countries will continue to dominate the top of the millionaire household rankings, the rising cost of living will have a direct impact on how much those millions of dollars are capable of buying. For instance, $1 million will buy a lot less in the US than it will in China, where it will be worth more like $1.8 million comparatively speaking, given its higher purchasing power. 
Yes, I know the world is in economic turmoil, and there’s no doubt that we’re in for some interesting times ahead. 
However if the next 10 years is anything like the last 10 years we’ll have another property boom as well as a property slump. We’ll have periods of low interest rates and times when interest rates rise. We’ll probably have a change of government plus a gaggle of unforeseen hurdles put in our way to test our resolve. 
But those investors who keep their eyes on the big picture and invest in well-located properties are likely to do well and join the ranks of those new Australian property multi-millionaires.
Michael Yardney is a director of <a href="https://www.metropole.com.au/">Metropole Property Investment Strategists</a> who create wealth for their clients through independent, unbiased property advice and advocacy. He is best-selling author, one of Australia's leading experts in wealth creation through property and writes the <a href="https://www.propertyupdate.com.au/">Property Investment Update</a> blog.
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