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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{yoogallery src=[images/stories/october20noosaheads]}
The 103-hectare Noosa Springs golf course and masterplanned residential community in Noosa Heads has been listed for sale. 
Developed by the StarCo Group since 1997, the property development business run by the local Starkey family, it has long been considered one of the jewels in the Sunshine Coast property market and one of the most sought-after residential golfing communities. 
Up for sale are the two remaining development sites, a subdivided residential lot along with the 18-hole championship golf course, clubhouse, spa and other facilities that make up the masterplanned development. 
The assets, which are available to be purchased in one line or individually, are being marketed via an international expression-of-interest campaign by Dean Humphries and Ben McGrath from Jones Lang LaSalle. 
The listing of Noosa Springs follows a number of other prominent residential and leisure listings in the troubled Sunshine Coast market. 
These include <a href="https://www.propertyobserver.com.au/developments/offers-over-%2430-million-sought-for-austcorp-s-coomera-waters-gold-coast-development/2011101851986?source=flciker2" target="_blank">Austcorp Group’s masterplanned 476-hectare Coomera Waters development</a> on the Gold Coast, which was recently put up for sale with price expectations of between $30 million and $40 million. 
In September <a href="https://www.propertyobserver.com.au/leisure/sea-temple-development-seeks-golfing-devotees/2011091551565" target="_blank">the luxury Sea Temple Golf and Country Club in Port Douglas</a> as well as the adjoining housing estate were put up for sale by the Juniper Development Group. 
Also in September, <a href="https://www.propertyobserver.com.au/leisure/clive-palmer-buys-distressed-golf-courses-at-discount/2011092051616" target="_blank">Queensland billionaire and mining supremo Clive Palmer paid about $7 mining for the Robina Woods and The Colonial</a> golf courses on the Gold Coast. 
The larger of the two Noosa Springs development sites measure 4.262 hectares, with full approval for up to 155 apartments and facilities, while the smaller site measures 1.1 hectares with potential for up to 43 apartments.
One of the prized assets is likely to be the 72-par golf course designed by golf course architect Graham Papworth to fit in with the local tropical environment and rated one of the best in Australia.
Other facilities up for sale include the day spa, restaurant, conferencing and function venue, boutique fitness centre and resort accommodation – featuring management rights for 32 apartments – and the Oasis, a residential subdivision with 26 vacant lots.
The gated residential community and resort facility is three kilometres from Hastings Street in Noosa Heads and is due to comprise of 300 homes, extensive sport and leisure facilities, and resort accommodation of up to 240 apartments upon completion.
McGrath says a large number of homes have been completed and sold over the past 15 years. 
“There is now the opportunity for an investor or developer to acquire the last remaining tracts of land and develop a further 198 owner-occupied or investment apartments. These sites are serviced with development approvals in place. There are also 26 residential allotments bordering the golf course that can be purchased in-one-line,” he adds. 
Humphries expects interest from resort-type investors and developers. 
“The ability to complete a 200 key world-class resort with these key facilities already in place is ideal, he says. 
“Noosa Springs currently generates a strong established cash flow and runs a healthy trading surplus from its highly successful golf course, spa and function facilities, allowing for a new investor to benefit from an attractive holding return whilst they sell down or develop the last remaining tracts of land,” he adds. 
According to RP Data, the median house price in Noosa Heads has fallen 16% since 2008 to $647,000 while units are down 24% to $570,000 over the same period. 
A research report put out by PRD Nationwide in July forecast the Sunshine Coast residential market to recover at a slower pace than the Brisbane market with expectations that it would remain flat until at least the end of 2011. 
Expression of interest close on November 16.
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lschlesinger-FZcF9M3vE6

Another Queensland golf course for sale

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Developer Australand has released the fifth building in its materplanned Discovery Point development, about 10 kilometres from Sydney CBD, following strong buyer demand for the fourth stage.
<img src="/images/stories/discovery2.jpg">
Arc is the latest building to launch in the development, which is in Wolli Creek, and comprises 88 units, of which 31 have been sold. Of the ones remaining, 24 are one-bedroom units, 29 are two-bedroom units, 13 are  two-bedroom units with studies, and one is a three-bedroom penthouse. Arc launched on September 26.
It follows the success of stage four, called Linc, where 102 of 126 apartments sold within 24 hours of the official launch.
Arc’s one-bedroom apartments are priced from $405,000, two-bedrooms are priced from $610,000, and the penthouse has an $800,000 price tag.
<img src="/images/stories/discovery3.jpg">
Discovery Point includes many outdoor leisure areas around the Cooks River foreshore and Discovery Point Park.
Australand NSW general manager of residential Nigel Edgar says the outdoor lifestyle and the convenience of transport options have struck a chord with buyers.
“The extremely convenient location just five stops from the CBD by train, coupled with a high-quality, low-maintenance apartment means that apartments at Discovery Point have had a consistently low vacancy rate,” Edgar says. “This is reflected in the high percentage of apartments bought by investors.”
<img src="/images/stories/discovery4.jpg">
Each of Arc’s apartments will include a balcony with full-height glass sliding doors for climate control, and Edgar says sustainability and convenience are big considerations for the developer.
“Australand is responding to demand for new apartments close to the city that embrace sustainability initiatives and take advantage of established transport links and infrastructure,” Edgar says. “Discovery Point’s success to date reflects our infill development experience in delivering quality masterplanned residential product at an attractive price.”
For advice on buying off the plan download our free e-book.
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cknowlton-QnEa6ntUYP

Sydney Discovery Point development launches fifth stage after previous successes

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Sydneysiders are leaving the city as it becomes increasingly congested and housing supply dries up, according to the federal government’s State of Australian Cities 2011 report. 
Between 2001 and 2010 Melbourne increased its population by more than 600,000 while Sydney’s grew by less than 450,000, with Sydney’s net population growth the result of international migrant arrivals outpacing departing local residents. 
In comparison, Melbourne remains a destination for many international migrants, but is also losing fewer internal migrants and consequently is growing more rapidly than Sydney. 
The report reveals the Sydney’s inner and middle city zones are becoming increasingly congested in comparison with Melbourne and Perth.
While the central local government areas of Perth and Melbourne both experienced rapid growth alongside Sydney as CBD and surrounding areas were redeveloped with higher-density housing, this trend was most pronounced in the City of Sydney, which added 52,530 residents and was a significant share of Sydney’s population growth (11.7%) in the period 2001 to 2010.
Overall, around 54% of Sydney’s population growth over the last 10 years has occurred in its inner city and middle city zones, with only 46% occurring in the outer suburbs. 
In comparison, 61% of Melbourne population growth has occurred in the outer suburbs, while more than two-thirds of Perth’s expansion (69%) has occurred on the outer edges of the city.
According to the report, Melbourne’s growth was concentrated on the city’s western, northern and south-eastern fringes with Perth’s population growth even more heavily concentrated in urban fringe developments, particularly those with coastal proximity.
In addition, Sydney is suffering from the state’s inability to build enough residential dwellings with NSW continuing to fall behind Victoria in the pipeline of new houses, semi-detached houses and apartments approved for construction. 
Figures for 2008 - 2009 and for 2010 - 2011 show that while NSW nearly doubled the number of apartments and units approved from 6,000 to 11,000 over these periods Victoria increased its pipeline from 6,000 to more than 17,000. 
Furthermore, while Victoria has over 35,000 houses approved for construction for 2010 – 2011, NSW has less than half that at just over 16,000.
Urban Taskforce chief executive-designate Chris Johnson says the report singles out Sydney for “dishonourable mention” and highlights that while there is a 200,000 housing gap between supply and demand, it is particurlarly severe in Australia’s largest city. 
“This report clearly shows that Sydney’s lack of new housing is driving people away from the city that they know and love,” Johnson says. 
Johnson says Sydney is not fulfilling its potential as a “hub for compact, pedestrian friendly living”. 
According to Johnson the housing supply crisis in Sydney and NSW is showing no sign of abating. 
“In the last quarter alone, work started on just 6,700 new homes in NSW, compared with 14,700 in Victoria and 6,000 in Queensland. 
“In fact, the June quarter saw new housing starts fall by 20% in NSW while Victoria saw an increase of 4.5%. 
“No capital city produces less homes per head of population than Sydney.” 
With large proportion of new jobs (50% to 70%) located in the outer suburbs in Sydney, Melbourne and Perth, Johnson says investment in new public transport to connect outer suburban communities to the urban core is vital. 
“It’s disappointing that the release of this report has not been accompanied by any commitment by the federal hovernment to fund the new and improved arterial roads essential for urban growth, nor any commitment by the federal government to fund the north-west rail link in Sydney.”</body></html>

Sydneysiders driven out by housing undersupply and congestion: Report

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Kevin McCloud, the star of the increasingly popular TV series Grand Designs, fronted the decor home show Grand Designs Australia Live in Sydney today.
Crowds hovered as the cult television star cashed in on his international acclaim.
"I'm just a whinging Pom," he suggested, then spoke on what made great, rather than grand designs.
Judging unusual housing projects, Grand Designs first screened in Britain in 1999, airing in Australia on the LifeStyle Channel six years later, then on ABC1 a year later.
Earlier this month its 11th season premiered in the UK. Naturally the couple involved in the transformation of a derelict mill cottage in Northumberland, Stefan Lepkowski and Annia Shabowska, who began work in 2006, had a £250,000 budget, which was completely inadequate.
The series reportedly rates better in Australia than on Channel 4 in Britain.
McCloud told an Australian audience earlier this week that the biggest mistake people made renovating or building a home was "not planning enough" and "failure to work with good professionals."
McCloud said technology was making the home simpler, not more complicated.
McCloud admits his own house is typicall messy and says the kitchen is the centre of the home.
The exhibition space is filled with stalls highlighting interiors and home decor ideas for non-televised home grand designs.
It follows recent exhibitions that take place annually in London and Birmingham.
Grand Designs Australia Live will take place in Melbourne in September 2012.
While in Australia McCloud will catch up with one of his two brothers, who lives in northern NSW.
The show continues until Sunday. 
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jchancellor-FAypfDUnLy

Kevin McCloud talks grand designs in Sydney

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It was like any other Toorak property auction.
Indeed five of the attendees drove off in silver Mercedes.
But as Justice Tim Ginnane noted, the occurrence had considerably greater significance than of merely displaying the buying patterns of particular prestige property consumers.
Bidding had stopped at $2.1 million at the RT Edgar onsite auction, with a $2.6 million vendors' reserve.
The top unsuccessful bid had been placed by an undisclosed associated party of the Toorak plastic surgeon and neighbour Dr Chris Moss and his wife, Andrea John.
The couple also had another undisclosed associated party, who sought to make post-auction offers.
The underbidder who resided opposite on Toorak Road, Tom Kartel, had also hovered after the auction, having had his pre-auction $2 million offer declined.
There was much toing and froing by the agent, Greg Herman, with discussions with interested parties and the vendors.
After the auction, Herman went and spoke to Kartel, who was standing next to his silver Mercedes. Kartel indicated he wasn’t prepared to go higher and at $2.35 million not at all.
A bid was made on behalf of the doctor at $2.4 million.
The agent then advised he had already received an offer of $2.6 million. Pressed, he said it was from the underbidder who'd been seen driving a silver Mercedes.
Herman gave evidence that John asked him many times what the bidder’s name was. She placed him under considerable pressure. He said that he was reluctant to give the bidder’s name, because of privacy considerations. Herman gave evidence that he eventually plucked the name “Tom” at random, because John was screaming. He could have selected “Dick” or “Harry”. He said that Tom was driving a silver Mercedes, because that was a common car in Toorak.
Moss was advised that “Tom” the underbidder wearing a pink shirt, had been through the property many times and was thought to be a property developer. Herman told Moss that he had received the offer from “Tom” after the auction by a telephone call received on his mobile telephone.
Herman stated that if Moss did not buy the property, “Tom” would.
John showed Herman a photograph of Kartel on her iPhone and said, “Is this Tom in the pink shirt?”
Herman said, on his evidence to placate her, either “yes, it could be” or “yes”.
She asked him, “Is this his car”? and again he said, “yes” or “it could be”.
Herman said that he was colour-blind and did not recognise pink.
The doctor then offered $2.7 million, which was accepted.
Moss then attempted to write into the special conditions that “you’ve had an offer from the guy in the silver Mercedes” in the contract, but Herman stopped him, stating “Don’t do that. The lawyers won’t like it that, we can’t alter contracts.”
Moss told the court he said to Herman: “Greg, do you give me your absolute word that you received an offer of $2.6 million.” Herman said that he did.
As Ginnane noted,  "the outcome of the auction may well have ended there had not events intervened."
By chance, the doctor’s wife saw the underbidder driving past the property in a silver Mercedes a short time after the contracts had been signed.
She flagged him down then knocked on the window.
She asked him how much his final offer was, and he told her that it was $2.2 million.
She stated that “we’ve been told that you’re a Greek developer and you offered the property of $2.6 million”.
Kartel denied that that was the case.
And then it was on with proceedings started in March 2010.
<a target="_blank" href="https://www.propertyobserver.com.au/residential/plastic-surgeon-wins-court-case-against-deceptive-toorak-estate-agent/2011102052011">It ended up in a 14-day trial in the Victorian County Court with Ginnane ruling the property was only worth $2.5 million and he awarded Moss the $200,000 difference.</a> The couple had claimed damages of $475,000.
The purchasers won their claim that they were misled and deceived into bidding $2.7 million by a representation that a person identified as “Tom” had made a post-auction offer of $2.6 million, when in fact that was not the case.
The vendors submitted that they had not themselves engaged in misleading or deceptive conduct, which Ginnane accepted.
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Deceptive Toorak auction aftermath - and the silver Mercedes that almost got away

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The mortgage broking industry has been toasted at the 10th Australian Mortgage Awards marking a year during which brokers strengthened their market participation but gave up more power to the major banks.
According to the most recent JP Morgan/Fujitsu Mortgage Industry Report mortgage brokers are now writing about 43% of new home loans in Australia, just below the pre-GFC peak of 45%, but power has shifted further towards lenders.
The awards follow a challenging 12 months for the industry, with housing credit growth slowing and brokers now operating under a stricter ASIC compliance and licencing regime.
The announcement of winners also coincided with the <a href="https://www.propertyobserver.com.au/industry-news/refund-home-loans-in-administration/2011101451935" target="_blank">collapse of one the biggest mortgage broking franchises, Refund Home Loans</a>.
The major banks scooped up three awards on the night, with Westpac judged to have the best internet presence, NAB Broker winning the best industry advertising campaign and the Commonwealth Bank’s Natasha Kelso named the best bank business development manager.
Multiple award winners included Oxygen Home Loans, the mortgage broking arm of John McGrath’s real estate business, which scooped independent brokerage of the year (six or more staff) and Australian brokerage of the year.
The mortgage broking awards follow McGrath’s Neutral Bay/Mosman/Northbridge office winning the Franchise Council of Australia’s national Community Service Award following its involvement with 14 community groups during the last 12 months. 
Melbourne-based The Australian Lending and Investment Centre picked up three gongs on the night including new brokerage of the year and Australian broker of the year for its loan writer, Mark Davis. 
One of the industry’s most successful mortgage brokers, Wendy Higgins, operator of Mortgage Choice’s Glenelg franchise in the western suburbs of Adelaide, took home the Golden Morgie for lifetime achievement. 
South Australian franchise Club Financial Services picked up two awards, as did mortgage aggregator Connective, both to its BDM Fiona Brown. 
While it did not take home any of the prizes, Century 21 Home Loans received four nominations including ‘Best Customer Service from an Individual Office’ (Century 21 Home Loans/Solution Funding, Dural), Commercial Broker of the (Scott Colless, Broker of the Year (Franchise) - Geoffrey Slater, and Franchise Brokerage of the Year - Century 21 Home Loans Mayland. 
<a href="https://www.australianmortgageawards.com.au/winners/" target="_blank">Click here for a list of all the winners.</a>
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Major banks among the winners as mortgage brokers celebrate industry growth

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The Century Centre in the Parramatta CBD has been listed for sale for the first time on behalf of private developer Capital Corporation, which is seeking about $50 million for the 12-storey A-grade office building. 
The building is located in the business hub of Parramatta CBD between George and Macquarie streets on a heritage-listed site steeped in history. It sits above the convict-built sandstone barrel-drains that run under Church, George, Smith, Charles and Macquarie streets. A portion of the drains can be viewed via a glass floor in the building’s foyer. 
<img src="/images/stories/parramattaoffice.jpg">
The listing of the building located at 18 Smith Street (and commonly referred to by that name) follows the latest Property Council office vacancy statistics showing that Parramatta’s A-grade vacancy rate was just 2.4% as at July 2011. 
The Parramatta office market, often referred to as Sydney’s second CBD, has been among the most actively leased markets over the last year, with Savills reporting an 81% increase in the take-up of office space for the 12 months to June 2011. 
According to Savills, the Parramatta CBD, which comprises about 685,000 square metres of stock, is expected to benefit from a strong recovery in the Sydney CBD market. 
The Century Centre has a net lettable area of approximately 12,000 square metres and includes parking for 166 cars. It is located approximately 150 metres from the Parramatta bus/rail interchange and close to Westfield Parramatta. 
It was completed in 1999 by Cencorp Property Group, which merged with Capital Corporation in May 2008. 
It recently underwent a $4.8 million refurbishment that included a stylish foyer makeover, the revamping of common areas and the installation of an air-conditioning system, which resulted in its NABERS energy rating being upgraded from 2.5 stars to four stars. 
It is anchor tenanted by Telstra subsidiary NDC (the original anchor tenant), which recently recommitted to 6,600 square metres of space in the building. Other major tenants include Suncorp, which occupies 2,490 square metres of space, alongside Pepper Australia and Employers Mutual, which recently leased 1,140 square metres and 770 square metres of space respectively.
CBRE’s Greg Cohen and Michael Brislane in tandem with Frank Sassine and John McCann of Colliers International will jointly market the building, which is expected to draw interest from both institutional buyers and private investors. 
Cohen says the building’s location in the financial core of the Parramatta CBD is expected to underpin interest in the sale campaign. 
“This is the first A-grade Parramatta building to be offered via an on-market campaign in recent years,” he says.
According to Colliers’ Frank Sassine Parramatta’s strong market fundamentals are expected to underpin interest in the sale.
“Further analysis, indicates only two opportunities are currently available for tenants seeking A grade office space greater than 1,000sqm and there no options for those tenants looking at more than 2,000 sqm of contiguous A grade space,” he says. 
“As a result, rental growth has commenced, in particular for the A Grade market, and this is expected to continue given the lack of new supply in Parramatta,” Sassine said. 
Proceeds from the sale of the Century Centre will be reinvested in future Capital Corporation development projects including MCentral Macquarie Park, AXIS @Sydney Olympic Park and residential developments in Mascot and  Rosebery. 
Expressions of interest will close in late November.
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Parramatta office tower on the market for about $50 million

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A surprisingly high number of home owners sell then revert to renting, never to own again, says Professor Gavin Wood, director of the RMIT Research Centre of the Australian Housing and Urban Research Institute. The study reveals one in five home owners dropped out of ownership at some point during the period 2001 to 2009.
Using data from the Household, Income and Labour Dynamics in Australia survey, Wood tracked the housing histories of thousands of Australians over nine years from 2001.
During that time 1.65 million “episodes” of home ownership were terminated as people moved into rental housing. Among people under 50, the “survival rate” in home ownership was 77%.
“On the face of it these figures suggest a higher proportion of Australian home owners are precariously perched on the margins of home ownership than in the past,” Wood says.
He maintains the idea that housing careers progress smoothly from leaving the parental home through renting and then into ownership, with low housing costs matching lower income post-retirement, is losing its relevance in the 21st century.
“It's no longer necessarily true that buying a home sets you up for life,” says Wood.
He says it was not clear why so many fell out of home ownership but financial pressures and high housing prices had played a part.
It was noted while just over half the Australians later moved back into the property market, many became reliant on rental assistance or public housing.
The former owners who did not return quickly to the property market were more likely to enter public housing or qualify for Commonwealth rent assistance than long-term renters, the report suggested.
This suggests they were precipitated out of home ownership by adverse circumstances”' Wood says.
The report noted Australia had a healthy private rental market compared with Britain, allowing people to move more freely between ownership and renting rather than clinging on in penury to their homes.
The relative ease of renting in Australia might also be a factor in the low mortgage default rates. “People sell up before it gets to that point,” Wood told SMH reporter Adele Horin.
As a step towards lowering housing prices he suggests replacing stamp duties with a broad-based land tax, and establishing an income-tested housing allowance that would go to struggling home owners as well as renters, and abolishing subsidies for first-home buyers.
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One in five home owners quit property ownership, some not to return: Academic

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University of Western Sydney associate professor of economics Steve Keen believes property prices may fall, peak to trough, by 20% through 2013, warning the most recent peak in prices may be the last one for some time.

But where house prices go over the next year depends mostly on employment growth and interest rates, says SQM managing director Louis Christopher, who warns predictions without significant modelling behind them cannot necessarily be relied upon.
"We need to see a lot more detailed analysis about these sorts of predictions," he says.
<a href="https://www.businessspectator.com.au/bs.nsf/Article/property-interest-rates-RBA-eurozone-debt-crisis-h-pd20111019-MS7H7?OpenDocument&amp;src=sph">In an interview with Business Spectator</a>, Keen says prices could fall by 20% through 2013 from their most recent peak.
"I'd be quite happy now to say the last price peak was the overall peak and so I'd expect something of the order of a 20% fall between now and say the end of 2013," he says.
"I think you could tie me down to saying I'd expect something of the order of a 20% fall from peak to trough, whatever the peak might be, whatever the trough's going to be."
Keen has previously made headlines for predicting that prices would fall by as much as 40% over a decade or 15-year period. Now, he tips that not only will house prices fall, but that as China's growth slows down, economic conditions in Australia will soften.
As a consequence, the country could see rising levels of unemployment.
"You know, it's murky data, but the trend appears to be for rising unemployment now and of course the falling house prices at the same time," he said.
"So I think the 'everything is wonderful here' argument partially is based on the important role of China, but it's also based on the same delusion that made Iceland think it was hot shit before it fell apart."
However, Christopher warns that while prices have fallen in some cities, there are too many variables to necessarily come up with a "nice round number".
"We need to look at questions like, what are his assumptions for interest rates over that time? Is he factoring in economic Armageddon or not? What are his assumptions for government stimulus?"
"Our forecasts are that if rates remain unchanged we will see, in some cities, a 15% decline from peak to trough, but we simply don't know the future direction for interest rates."
Christopher says the real question is employment growth and how global economic turmoil will affect that. But overall, he says, it's hard to come up with "big round numbers".
"We understand fundamentally there are plenty of problems with global systems of debt, I agree with that. But there needs to be a lot of detailed analysis around these types of predictions."
This article originally appeared on<a href="https://www.smartcompany.com.au/property/20111020-house-prices-may-fall-20-by-2013-steve-keen-predicts" target="_blank"> SmartCompany</a>.
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Louis Christopher rejects Steve Keen's forecast of 20% house price drop

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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.
 
As we look to what's ahead for 2012, Property Observer is republishing some of our most noteworthy stories of 2011.Mistake #1 – Getting emotionally involved
Many homeowners undertake a home renovation for emotional reasons. Very often they fall ‘in love’ with the property. This emotional issue applies to both home owners and investors. One of the biggest mistakes homeowners make when undertaking a home renovation is to overcapitalise their property. 
Mistake #2 – Failing to understand the meaning of overcapitalisation
According to the Royal Australian Institute of Architects; many homeowners are paying thousands of dollars only to devalue their homes. One of the ways they do this is by overcapitalising which means to improve a property beyond its resale value. Overcapitalisation means you spend too much money on the property and are not be able to recoup these monies if you decide to sell it. A simple example would be if a homeowner spends $150,000 on home renovations and then decides to sell the property. The homeowner may find that the value of the property has only increased by $75,000 meaning that they have effectively lost $75,000 through the renovations. In effect, they have over-capitalised the property by $75,000. 
Mistake #3 – Not doing your homework on comparable market pricing
Unfortunately, it is important to recognise that most suburbs have a median sale price and an upper sale threshold specific to your suburb. Even different streets in your suburb have different price thresholds; that’s because your neighbour’s houses and the general streetscape have considerable influence on the value of homes in your street. Before renovating it is important to consider the housing styles, demographics of your suburb, and sale prices achieved of other homes in the area that have recently sold.
Mistake #4 – Under-estimating all of the costs involved in building
This is one of the biggest mistakes that homeowners make when renovating their homes. Homeowners typically under-estimate the costs involved in building. Such as; demolition costs, professional fees, contingencies for variations, foundation changes due to soil conditions, fit-out and landscaping, kitchens and bathrooms, escalation of building costs and delay and acceleration costs to finish the project on time. 
Mistake #5 – Poor selection of a builder
Property owners who decide to employ a builder to undertake home extensions also encounter problems because they have not undertaken sufficient research on the experience of the builder, and their past record in undertaking renovations. Especially their “variation claims” history, often Builders locks unsuspecting homeowners into building contracts which cost homeowners thousands in variation costs. Another common mistake is to let the Builder provide the design, and therefore restrict the homeowner from getting competitive quotations upon the Builders design. 
 
Mistake #6 – Doing it DIY to save money
Some people also make the mistake of trying to undertake home renovations themselves. This can prove costly in time and is financially unwise because a poor standard of work will only devalue the property. Character homes, in particular, require a higher standard of renovation work and you may need to carefully select tradesmen with past experience in this area to ensure that the work is properly completed. If you decide on a major renovation don’t cut corners doing it yourself. There is no such thing as a cheap renovation. Ultimately, it will impact on the resale value of the property or you will spend more funds at a later date to fix the original faulty work. Always seek competent, professional advice and trades people before undertaking a major renovation.
 
 
Mistake #7 – Failing to stick to a budget
A common problem is that home renovators do not operate with a strict budget and are unable to complete planned renovations because of a lack of money. This mistake results in homeowners financially overextending themselves through a lack of financial planning. The “Catch 22” is that renovators often can’t then sell their ‘half completed’ renovation and end up in severe financial hardship. 
Mistake #8 – Poor functional design layout and design
A very common problem is that home renovators end up spending too much on a poor functional layout because of the limitations of the existing building. In many cases the homeowner would have been better off, to have demolished the existing house and start all over again. Another common problem is where the style of the renovation is inconsistent with the rest of the house; you’ll often see houses for sale with a modern extension that clash with the rest of the house which is still stuck in the 1970’s. These properties are “lemons” on the market and typically homeowners lose money on these renovations.  
Mistake #9 – Spending money on the wrong things
If you are living in $100,000 house you will not get a good return on an investment in a $35,000 bathroom. Swimming pools are a good example of additions to a property that often doesn’t add value. Many buyers do not want the work, expense, and potential for accidents that come with a pool. The general rule is that you should not spend more than 25 per cent of the value of your home on home improvement renovations. 
Mistake #10 – Underestimating the disruption to your lifestyle
Undergoing a major renovation and living through it, is often overlooked by most home owners. The disruption to your lifestyle, the mess, the noise and restrictions is something that should not be discounted. If you are having major renovation (especially if you are a family with young children) consider moving out and renting elsewhere during the construction phase. 
Before you make the decision to renovate or buy a new house, carefully ask yourself the following questions: 
1. Decide what it is you are looking for in a final result and ask yourself if it will be cheaper to buy a different home or to renovate your old one. 
2. What is the average selling price of homes in your area? 
3. Will renovations alter the appearance of your home so that it appears out of place in the neighbourhood? Check the styles of other homes in the area. Keep in mind it might be a better idea to match or keep in step with the styles of other homes in the area. A poor design could devalue your home by thousands of dollars. 
4. How much will renovations cost compared to what you paid for your home. What is the expected increase in value as a result of the renovations? Will the renovations actually cause your home to lose value?
The decision to buy a new home or to renovate is not one to be taken lightly. It is recommended that you think through every aspect of the project prior to getting started. Seek the advice of a local professional architect/building designer as well as a real estate professional if necessary to determine how the proposed renovations will affect the value of your home. 
Gary Pemmelaar is a co-principal of <a href="https://www.rhglenelg.com.au/" target="_blank">Raine &amp; Horne Glenelg</a>. Gary is a civil engineer and hold a builder's licence in SA. He has considerable experience in both property develoment and renovations.
For expert commentary and analysis on lessons to be learnt from property reality TV, <a href="https://register.propertyobserver.com.au/lights-camera-auction/" target="_blank">download our e-book Lights, Camera, Auction!</a> 
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