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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Property developer Dexus will take at least four years to fully lease its recently completed 1 Bligh Street tower in the Sydney CBD, according to Bank of America Merrill Lynch analyst Simon Garing.
The 27-storey tower features floor plates measuring 1,600 square metres.
Its major tenant is law firm Clayton Utz. <a target="_blank" href="https://www.propertyobserver.com.au/new-south-wales/prime-minister-julia-gillard-seeks-new-sydney-office-digs/2011081751191">The Commonwealth government is believed to be considering taking up to 4,000 square metres of space in the building.</a>
In an October ASX filing, <a target="_blank" href="https://www.propertyobserver.com.au/office/sydney-s-1-bligh-street-valued-at-%24629-million/2011101051875.">Dexus said 51% of the office tower was still available for rent.</a>
In a note, Garing says the listed trust faces an increasingly volatile environment with key tenants in the highly leveraged financial services sector remaining cautious.
The investment bank has an “underperform” rating on Dexus, while Goldman Sachs and CLSA more optimistically describe the trust as a “safe haven”, the Australian Financial Review reports.
Rents in excess of $1,100 per square metre are being sought for the upper floors of the oval-shaped tower, which is significantly higher than nearby office towers.
The office tower is advertising rents around $650 per square metre.
The 1 Bligh Street tower was recently valued at $629 million tower and is the first high-rise office building to win a six-star rating from the Australian Green Building Council.
It was completed in July this year and officially opened in August 2011 by Prime Minister Julia Gillard.
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Dexus will take four years to lease 1 Bligh Street: Merrill Lynch analyst 

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Austcorp Group’s masterplanned 476-hectare Coomera Waters development on the Gold Coast has been listed for sale with price expectations of between $30 million and $40 million.
The Sydney property development company that built the 71-storey $1 billion Vision tower in Brisbane was placed in voluntary administration in May 2009 with debts of about $550 million.
The estate is located on the banks of the Coomera River, 18 kilometres north of the Surfers Paradise CBD and directly opposite Sanctuary Cove.
Once fully developed, the estate will comprise 1,556 lots surrounding an existing 17-hectare tidal lake, with private recreational clubs, retail and commercial space and a marina.
To date, 1,121 residential lots and six waterfront villas have been completed and sold while a further 47 titled residential lots and two waterfront villas are completed and on the market.
The expressions-of-interest campaign for sale of the balance of residential land, the marina shopping village and marina berths is being co-ordinated by CBRE’s Will Cameron, Mark Witheriff and Lachlan Harris.
The site is being market internationally, with Witheriff expecting the masterplanned residential estate to attract significant interest from both onshore and offshore development groups.
“The estate is located in a strong population growth corridor that is currently experiencing a significant level of urban development,” Witheriff says.
“The area is set to benefit from ongoing private and public sector infrastructure investment and from the future development of the adjoining Coomera Town Centre as a major activity centre.”
A three-bedroom waterfront villa on Kestrel Lane is currently being marketed by Mark Croudace from PRD Nationwide with a price tag of $699,000, and Jason Read from LJ Hooker Coomera is seeking offers of over $700,000 for another three-bedroom villa on the same street.
A further 75 residential lots are approved and are ready for release and construction in two stages, with prices starting from about $260,000 for a 1,130-square-metre block. A further 103 residential lots to be released in three stages have development applications lodged.
CBRE development director Will Cameron says 22 stages of the estate have been completed and sold, while a further three developed stages are available for sale. A further five stages and a number of medium-density parcels in various stages of approval form part of the sale.
“The sale provides an opportunity to acquire income producing assets including Marina Shopping Village, 70 berth marina and commercial offices.  This income will be available as the remainder of the estate is developed,” Cameron says.
“Another drawcard for buyers will be the fact that all the estate’s infrastructure is in place and the remaining development parcels are unconstrained, including a mix of waterfront sites and elevated dry lots with outstanding water views.”
The Marina Village retail commercial precinct comprises 1,548 square metres of retail commercial space and is currently 82% leased.
Expressions of interest close on November 24, 2011 at 4pm.
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Offers over $30 million sought for Austcorp's Coomera Waters Gold Coast development

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Despite a stalling property market, Victorian households remain the most comfortable about their financial position, according to the latest ING Direct Financial Wellbeing Index, which surveyed more than 1,000 household financial decision makers at the end of September and start of October.
Victorian households enjoy Australia’s highest level of financial wellbeing, with an Index score of 110.1 compared with a national index score of 105.9.
The state’s residents lead the nation for comfort levels across three leading indicators including comfort with their mortgage (5.6 out of a possible 7), household income (4.19) and personal savings (3.58).
The survey also reveals that Victoria has the highest proportion of landlords, with one in five respondents earning rental property income, compared with a proportion of between 17% and 18% in the other states and a national average of 18%.
In contrast, NSW households have the greatest preference for the share market, with more than a third (36%) having investments in listed companies compared with a national average of 30%.
NSW households are also feeling more comfortable about their financial situation, with the state index rising to 108.0 in the third quarter, up from 104.5 in the second quarter.
Mortgage holders in NSW feel as comfortable about their level of mortgage debt as those in Victoria while NSW households are also the most comfortable about paying their regular bills scoring a comfort rating of 3.99 out of 7 compared with 3.84 nationally.
In addition, NSW households are more likely to renew spending in time for the festive season than residents of any other state, with 33% saying Christmas is the circuit breaker that will revitalise their spending.
Only a quarter of Victorians say they will increase their spending over the Christmas period, according to the survey.
<img src="/images/stories/ingoct19.gif">
Source: ING Direct
Queenslanders are the least comfortable about their finances with the “challenge of rebuilding disaster-ravaged households” taking its toll on financial wellbeing.
The Queensland Index is 97.3, down from 105.2 in the second quarter, with median household income falling to $62,518 in the third quarter compared with $72,737 nationally. Median household savings are worth $2,905, below the national figure of $7,812. One in four (24%) households has no personal savings, and 9% say they are falling behind on their mortgages.
Queenslanders are also the least likely to increase their spending in the lead up to the festive season. One in three (30%) don’t expect to loosen the purse strings in the foreseeable future.
However, there are some bright spots for Queensland. Median figures for household credit card debt and home loan balances show Queenslanders are about on par with national figures.
Financial wellbeing has also declined in WA, with the state’s index score dropping to 105.9 in the third quarter down from 107.4 in the second quarter. 
The overall Financial Wellbeing Index for the third quarter climbed to 105.9  – a rise from its lowest level in the first quarter of the year (104.8) and second quarter (105.8), indicating confidence is improving.
“Despite a volatile quarter in financial markets, Australian households are proving their resilience as they get debt under control and build a strong savings base,” says Don Koch, CEO of ING Direct.
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Victorians most comfortable with their mortgages: ING Direct

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All economic activity is fuelled (and limited) by the availability of three things: land, labour and capital.  The term “demand” can be interchanged with “labour” in some instances.  Without all three components, economic activity does not grow – well, not as fast as it could.
When it comes to new housing in Australia, the availability of land is largely restricted by politics and poor policy and not the actual absence of land.  Hence, serviced land is what is expensive and not the actual dwelling itself.  A recent housing study by the RBA shows that land costs far more where development restrictions are tightest.
Over the last 10 years or so, the cost of vacant serviced suburban land has escalated by over 230%, and the price of urban redevelopment sites has increased even faster.
More new houses would be built across the country if the current jihad on detached homes were dropped; we simplified our planning schemes; stopped all the nonsense compliance and shut down troublesome state government departments.  The Queensland Department of Environment and Resource Management (known in the industry as DNO or the Department of NO), for example, springs to mind.  We want our bureaucracy “on tap”, not “on top”.
Such action would improve the supply of land, thereby reducing its cost and making new homes more affordable.  The demand for new homes would subsequently rise.
Too simple?  Well, in fact no.  This is exactly what needs to happen on the supply-side of the equation.  The trouble is this takes political will – and even if such will were to emerge (the sooner Queensland goes to the polls the better), it will take time to implement.  And many of us just cannot continue to hang on for that long.
It is also painfully obvious that the new housing industry is being penalised by the lack of adequate finance.  While this situation is unlikely to improve dramatically until global funds free up – something that largely depends on an economic recovery in United States – there are certain things on the finance or capital side that could be done to help boost sales.
One solution would be to include overseas sales in off-the-plan, pre-construction financial prerequisites.   For some reason, bankers think that the only “real” sale is a local one.  But, as is blatantly obvious to local retailers these days, the internet has changed the way we buy (and sell) products, and real estate is no different.  An internet inquiry (with certain caveats) is as good as a walk-in these days.
The finance industry is doing its developer clients a major disservice by not treating overseas off-the-plan sales with the same weight as a local transaction.
Now, I would understand the reluctance to accept an overseas sale if they had a track record of not settling; reselling quickly or for major losses – effectively dumping the stock if their finances got a bit dicey.  But all the evidence is to the contrary.
Overseas buyers, especially given current market conditions, are more likely to settle than Australians, yet the banks continue to discount any overseas buyer for pre-construction finance purposes.  Nowhere does this speak more loudly than on the Gold Coast.  We understand that the settlement rate is 100% for overseas buyers across the likes of The Oracle and Nirvana.  Pity the same cannot be said about local sales.
Our recent study of apartment sales across the Brisbane CBD found that close to one-quarter (23%) of the off-the-plan buyers were from overseas.  Overseas interest now equals sales from interstate (a 26% share of the new Brisbane CBD apartment market).  Overseas buyers now make up a substantial and growing market segment.  To ignore this trend is foolhardy, indeed.
It would also be great if overseas buyers were allowed permanent residency if they bought a new dwelling in Australia.  Certain caveats would apply such as the cost of the dwelling (maybe over $500,000); the length of the initial PR status (suggest five years, owners can reapply in due course) and a limitation (maybe denial) to accessing our welfare system.  Such as change would dramatically increase demand for new property in Australia.
Allowing overseas owners of all property, regardless if it is new or established, to resell their Australian assets overseas and not just to a local (Australian) buyer would also do wonders.
Many across the world view Australia as a safe haven.  We should be capitalising on this.  Yet, when you go to an Asian property expo, watch which exhibits make the most sales. They are nearly always those that offer buyers PR (with caveats) and the right to resell anywhere.  Will someone for the federal government please take note!
We need to fix the new housing industry from the ground up (pun intended) – major changes need to be made to correct the high cost for producing serviced land.  This will take political will and time.   In the meantime, much more can be done to ease up capital and get more new developments off the ground.
Many of us like a fair fight, but we are growing tired of having to fight with both arms and now legs tied behind our backs.
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 href="https://matusikmissive.wordpress.com/" target="_blank" title="Matusik's Missive">Matusik's Missive</a>.
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michaelmatusik-49YzLvdmNv

Overseas buyers must be encouraged to help our housing market

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A proposed 12-storey Richmond apartment block with shops is set to hurt the re-sale potential and rental income of the four homes sold recently on Channel Nine's hit TV series The Block.
The Coles supermarket group has revealed plans for a $250 million, 333-dwelling apartment complex immediately opposite the Cameron Street homes.
Coles has lodged plans with Yarra Council to demolish the Richmond Plaza centre between Bridge Road and Church Street.
The proposal, which includes 12,000 square metres of retail and commercial space, 530 basement car parking spots and 151 bicycle spaces, has yet to be put out for public consultation.
Yarra mayor Alison Clarke notes the site is in a heritage area, with low-rise residential immediately behind it, and is above the general council policy of five- to six-storey development.
Yarra councillor Steve Jolly told the Melbourne Times Weekly the proposal was a "medium-sized skyscraper in the heart of Richmond… This is not planning, this is an orgy of profit-driven development."
The <a target="_blank" href="/news">Richmond </a>cottages, bought by four investors, sold for between $855,000 and $1 million in August.
Prominent Melbourne buyers’ agent Mal James concluded after his August pre-auction inspection that “the position was a shocker.”
“Stand in the street or look on Google streetview and do a 360-degree turn – what do you see? Industrial sites, multistorey car parks. And who knows what is going there in the future?” <a href="https://www.propertyobserver.com.au/auctions/eight-property-rules-broken-by-the-block/2011082851318" target="_blank">James noted before the auction.</a>
“This for me was the real killer,” he said.
“As a bit of fun we rated all The Block properties,” James said, noting his firm traditionally only dealt with prestige $1 million plus houses.
“While all contestants had done some great things, we are not sure we would put any on our shopping list.
“The internals may excite but the externals of no car parking, industrial street and commercial neighbours do not,” James added.
James Home Ratings examines pieces of information about a home and matches them against established buying criteria ranking them with a score out of 1,000. His rankings for the four Cameron Street houses ranged between 502 and 615.
A rating below 550 means the property “has issues”. Between 550 and 650 is at the low end of average.
None of the Cameron Street buyers contacted by The Age property editor Simon Johanson were aware of Coles’ plans.
One buyer, who did not want to be identified, said: ''We thought Coles was going to be doing some revamping but we weren't aware there was going to be an apartment block.''
Valuer Robert Bath said such a large development would have a ''detrimental'' impact for owners in the neighbourhood.
''Anything that's high density is going to have deleterious impact,'' he told The Age.
Coles spokeswoman Alecia Batten says Coles is working in conjunction with developer Gresham Property for the project.
Jolly says developers are “trying to rip the heart out of Richmond''.
If approved, it would be the latest in a string of major developments across Richmond, including the Jaques site in Palmer Street, the former Channel 9 site in Bendigo Street, and the Dimmeys redevelopment in Swan Street.
Coles’ bid to redevelop the shopping centre was first reported by the Melbourne Leader last month.
For expert commentary and analysis on lessons to be learnt from property reality TV, <a target="_blank" href="https://register.propertyobserver.com.au/lights-camera-auction/">download our free e-book Lights, Camera, Auction!</a>
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The Block buyers face a proposed 12-storey Richmond apartment block threatening their investments

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A small increase in the value of owner-occupied housing finance in August is an encouraging sign for future housing construction, according to the Housing Industry Association.
The total value of owner-occupied housing commitments excluding alterations and additions rose 1.3% in trend terms and by 0.6% on a seasonally adjusted basis, according to ABS figures for August 2011.
In seasonally adjusted terms, the total number of loans increased by 5.7% in the Northern Territory, 1.1% in Victoria and Queensland, 0.7% in Western Australia and 0.1% in New South Wales. 
The total number of loans fell in the Australian Capital Territory (-9.7%), South Australia (-2.1%) and Tasmania (-0.6%).?
"The overall profile for new home lending has essentially bottomed out through the middle months of 2011," says HIA chief economist Dr Harley Dale. 
"Considering new home starts fell in 2010-11 and look set for a further decline in 2011-12, it is encouraging to observe this bottoming out in a key leading indicator of new residential construction activity."
"There is a long way to go to turn around the new home building cycle and ensure a sustained recovery can begin making inroads into the substantial dwelling shortage Australia faces,” Dale says. 
"It is vital to see a commitment now and in future years from all levels of government to reduce the excessive and inequitable taxation of new housing which cripples new home affordability, hinders labour mobility, and constrains productivity growth." 
The number of loans for construction increased by 0.8% in August 2011 while loans for the purchase of a new dwelling were up by 6%, yielding a 2.4% rise overall in new home lending for the month. 
The number of loans for established dwellings (excluding refinancing) increased by 0.6% in August.
"New home building conditions remain weak, but interest rates are steady, skilled labour is more readily available, and the market is very competitive. If you're in a financially sound position to do so, now is an excellent time to be building a new home," Dale says.
Commercial loans increased by 7.9% in August, the second consecutive strong month for business loans, coming after a rise of 5% rise in July.
Loans for investment properties were down 0.7% in August.
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Small uptick in home loans an encouraging sign: HIA

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Western Australian property developer Port Bouvard Limited has now achieved settled sales totalling $72 million for its Oceanique apartments.
The total follows four recent settlements worth a total of $10.2 million.
Since Oceanique settlements began in July 2010, the group has reduced debt on its $101 million Oceanique facility to its current balance of $34.8 million.
Earlier this month Oceanique was announced as winner of a 2011 Perth Housing Industry Award for apartment project of the year.
<a target="_blank" href="https://www.propertyobserver.com.au/western-australia/calmer-waters-for-wa-s-luxury-oceanique-development-as-sales-pick-up/2011101151861">The remaining 30 unsold apartments continue to be marketed.</a>
Port Bouvard continues to pursue seven unsettled off-the-plan contracts.
For advice on buying off the plan download our free e-book.
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Recent sales leave 30 units still on the market in Oceanique

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Punters betting on a Melbourne Cup rate cut should seek long odds, according to three of the major banks. 
ANZ, Westpac and Commonwealth Bank have all highlighted the RBA’s less concerned outlook on inflation following the release of the minutes of the October board meeting as well as expectations that inflation figures will be revised down when quarterly figures are released on October 26.
The banks expect the Reserve Bank to keep its hand on the pause button for at least another month, weighing up solid domestic growth prospects against global economic concerns. 
Westpac chief economist Bill Evans says the minutes of the RBA’s October meeting provide confirmation that the board now sees scope for monetary policy to ease. 
Evans highlights the belief among RBA board members that an improved inflation outlook, “if confirmed by further data, would increase the scope for monetary policy to provide some support to demand, should that prove necessary”.
According to Evans, the implication of revised inflation figures is enormous. 
“In the space of three months we would see the bank move from forecasting a clear breach of the inflation target for two consecutive years to staying comfortably within the target and in fact seeing a modest slowdown through 2011,” he says. 
Furthermore, Evans points to other weaknesses in the local economy such as house price depreciation, a drop in business confidence and expectations of a softening labour market. 
However, he says global markets have rallied since the “absolute low point”, which coincided with the October 4 decision, while the Australian dollar has recovered significantly. 
As a result, Evans says the bank is sticking with its December rate cut call, which it first made back in July. 
“At this stage we retain our call for a December cut while recognising that the inflation print for the September quarter could easily open the door to an earlier move,” he says. 
Commonwealth Bank senior economist Michael Workman says the most likely scenario is that the RBA will leave the cash rate at 4.75% in coming months rather than opt for a rate cut. 
“We think that the rate cut case is incomplete and the medium-term outlook still favours a higher, not lower, cash rate,” he says. 
“The data released since the October board meeting had not added to the case for a rate cut. The markets’ reactions to the EU proposals to resolve their debt problems are the next major international hurdle for domestic monetary policy considerations,” Workman says. 
ANZ senior economist Craig Michaels is forecasting a 0.5% month-on-month increase in inflation for the September quarter, which would make it increasingly likely that underlying inflation would be under the upper limit of the RBA’s target range of 3% by year-end. 
“Such a significant change in the short-term inflation outlook, with the RBA previously forecasting underlying inflation of 3¼% by end-2011, in our view suggests there is minimal cost to a small 'insurance' rate cut of 25bps come Melbourne Cup Day,” Michaels says. 
However, should RBA ease monetary policy, ANZ expects only a modest easing cycle, which “may well be unwound in late 2012 or early 2013, should growth pick up more strongly than expected”. 
“This contrasts with current market pricing of sharp easing over the next few months, which appears to factor in a disaster scenario in Europe,” ANZ says.
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RBA rate cut coming, but not this month, say major banks

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Over the last few weeks I have noticed increasing nervousness among the property investors I speak with. And it’s not just beginning investors wondering whether they should get into the market. I’m also noticing concern from some investors with substantial property portfolios. 
Only yesterday I got a phone call from a professional colleague who has been investing for years, but now has the jitters after reading that US economics commentator Harry Dent’s warning that the world’s economies are going to fall into recession and Australia’s “property bubble” will burst, causing prices to come down by something in the order of 40%. 
Is he right? Are our property markets going to crash? 
Well, before I give my thoughts (for what they are worth) let me share some other concerns I’ve heard over the last few weeks. 
Some investors are worried that property prices have remained flat for some time now, indicating that they rose too high too quickly and that they must now drop. Others are concerned that they have been priced out of the market and it’s too late to get in. 
Yet others are anxious about all the issues playing out overseas and how this could affect us over here. They recognize that we’re now dependent on China and ask what happens to us if the Chinese juggernaut slows down. 
Why investors are nervous.
 
I understand why so many investors are nervous. It wasn’t that long ago, while the rest of the world was suffering after the GFC, that Australia avoided going into recession. We felt confident, in fact a little smug, and thought the worst was behind us. With all the good news in the media at the time buyers were out in force and set some of our property markets on fire. 
But for most of this year the messages were different. It’s no longer just good news. 
There is bad news, followed by good news, followed by some mixed messages. Most people, even some experts, don’t know exactly what’s happening or, more importantly, what’s coming next.  No wonder most investors don’t know what to do. 
We’re in good shape for a downturn.
 
While Australia’s economy has performed well and is likely to continue to do so, we don’t operate in a vacuum. We are part of a global economy, one that is still having lots of problems. 
America is taking longer than expected to work its way out of its economic problems and has a long way to go yet. And the extent of the problems in Europe is bigger than many anticipated, and it is likely we’ll see some sovereign defaults in the coming months. 
If history repeats itself there will be plenty more surprises ahead – maybe even some shocks – and these may have a negative impact on the Australian markets and in particular our stock and finance markets. 
The good news is that Australia is ready for almost anything the world economy throws at us. We’ve been battening down the hatches anticipating further financial problems. 
As a country, we have low debt levels – the International Monetary Find estimates 24% of GDP this year as opposed to 100% in the US and 150% in Greece. And even though we have a small budget deficit, our government could spend its way out of another economic crisis. Plus the RBA has the ability to lower interest rates to help stimulate our economy, as it has done in the past. 
At the same time the average household is in much better shape than a few years ago. We’re saving more than ever. On average we’re stashing away about 10.5% of our disposable (after-tax) income, paying down mortgages faster than needed and paying off credit card debt. 
While small retailers are battling, many of our larger companies are in a strong financial position, particularly our banks, which have bolstered their balance sheets. This means our major banks are no longer as dependent on overseas funds and could keep lending to us even if overseas interbank lending dries up. 
What could cause our property markets to crash? 
Despite all the predictions of a property collapse, over the past year capital city dwelling values fell by only 3.2% according to the latest figures by RP Data. 
Clearly we’re at a stage in the property cycle when prices will be flat for a while, and some properties will still fall further, but that doesn’t mean property values will crash. 
If you look at it logically, there are really only four things that could make our property markets collapse: 
<ol start="1">
<li>
A recession – when people lose confidence in the future and stop spending. No one I know is suggesting that is likely to happen in Australia over the next few years. Not with the mother of all resources booms buoying up our economy.</li>
<li>
High unemployment – when people can’t afford to keep up their mortgage payments they have to give away their houses at any price. Again, there is no evidence to suggest this is likely. If anything there is a shortage of skilled labour that will require us to increase immigration, which of course, will be positive for property.</li>
<li>
High interest rates – With interest rates likely to remain steady or fall over the next year, this risk to our property markets has been eliminated in the short term. Of course as our economy picks up over the next few years it is likely the RBA will once again have to push up rates to slow us down a little.</li>
<li>
An oversupply of property – Too many new properties built by exuberant property developers on the Gold Coast has shown how an oversupply can cause property prices to collapse. But, other than in selected areas like the Melbourne CBD and Brisbane CBD where an oversupply is looming, we don’t have more properties than buyers or tenants. 
</li>
</ol>
Sure property prices got a little ahead of themselves in some areas, but putting all this together means it is more likely that our property markets will remain flat for a while as they get back into equilibrium, in contrast to a sudden sharp fall as some of the doomsayers are predicting. 
And if property values start to fall significantly, it is unlikely that the government or the RBA would allow such a correction to occur. They will introduce stimulatory packages, or drop interest rates as they have in the past. 
What about all the talk regarding affordability?
 
Sure it’s hard for first-home buyers to get into the property game, but that’s nothing new.
Despite what some are suggesting, one of the economists I respect, HSBC’s Paul Bloxham, suggests that since late 2003 the dwelling price-to-income ratio has been broadly stable at between 3.5 and 4.5 and has averaged 4. 
He is forecasting growth in disposable income per household of around 5% per annum over the next couple of years as a result of strong employment and wages growth, and suggests that house prices will grow at this pace over the next couple of years.
<img src="/images/stories/yardneyoct19.gif"> 
 Property analyst <a target="_blank" href="https://www.matusik.com.au/">Michael Matusik</a> says that on average, Australians hold 80% equity in their dwellings – even higher for their principal place of residence.  He goes on to explain that when looking at Australians’ leveraging – when playing mortgage size against household income – this has declined over the last five years. 
He makes the insightful comment that unless we see our banking system collapse, he can’t see how house prices across Australia will lose close to half their current value in a short, sharp crash. And even over the longer term, such deflation seems very unlikely. 
So what should property investors do? 
Firstly it is worth remembering that the fundamentals that a strong medium- and long-term property market are sound. 
We still have a strong economy, full employment and rising wages, lowish interest rates and a growing population, yet at the same time we are not building the right type of properties in the right areas to meet this growing demand. 
But one important factor that boosted the market in the past – consumer confidence – is now faltering. 
The growth of our property markets, especially in some segments of Melbourne and Sydney in particular, was unsustainable. In some ways, the property markets have gotten ahead of themselves.  They are now taking a breather. This is normal. Property prices don't increase in a straight line. They go up in little booms then catch their breath and sometimes even drop a bit, but then they move up again. 
But not all properties will react the same.
Currently the upper end of the market is suffering and prices have dropped back significantly in many of our more expensive suburbs. 
The lower end of the market is holding its own, but it is never as volatile as the upper end.  By the way, this doesn’t make these places better areas to invest. In general these suburbs don’t exhibit the same strong capital growth as properties in the middle and upper price brackets. 
Properties in the middle range have varied in performance. There is still a scarcity of well-located properties for sale. This means well located homes and apartments are snapped up by owner-occupiers and investors. On the other hand secondary properties, and there are lots of those for sale, aren’t attracting buyers. 
Is property still a good investment? 
So back to the original question – is property a good investment? My view of the property market could be summed up simply as follows: 
1. I have very strong positive views on the property markets in most of our capital cities in the medium to long term. 
2. I am certainly aware of potential short term-problems related to poor market sentiment, which means that: 
3. You should be looking for property at the right price, in the right location, with the right rental income. One that you would be happy to hold in your portfolio in the long term that’s bought sufficiently below intrinsic value, so that even if the market fell a bit further, you would still have bought well. 
Are you ready to exploit the opportunities that will arise during this market lull? 
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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Property is still a good investment

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{yoogallery src=[images/stories/octobber19riverside]}
The developer behind one of Australia’s most expensive blocks, 150 Clarendon Street in East Melbourne, has launched its latest luxury project, Riverside Richmond.
Biggin Scott Richmond began marketing Salta’s latest development a few weeks ago through a “soft launch”, and agent James Weir says four have already been reserved.
“We do want to sell most of them by Christmas,” he says.
Riverside Richmond will comprise 17 four-bedroom terraces, all with their own titles and at least two car spaces.  They range in size from 190 square metres to 258 square metres internally and all include balconies and private courtyard gardens. Prices range between $1.19 million and $3 million.
“With only seventeen available we see this as truly a one-off opportunity to secure riverfront property in such close proximity to the CBD,” Weir says.
Weir says cashed-up owner-occupiers are the expected buyers for the luxury terraces,  particularly downsizers who have sold the family home in upper-end middle-ring suburbs and are looking to move into the inner suburbs for their conveniences but who like leafy, tranquil surrounds.
“The vibrancy of Richmond’s cafe and restaurant culture, all amenities and transport are right at your doorstep, yet you’d never know it surrounded by the magnificent river setting.”
Construction on the Buchan group-designed terraces is set to begin in two or three months and is expected to be completed in March 2013.
Salta is set to develop 405 residential dwellings on the site between River Boulevard and the Yarra.
For advice on buying off the plan download our free e-book.
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