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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Prime Minister Julia Gillard has announced construction plans to connect 485,000 premises to the National Broadband Network over the next year.
In the biggest rollout so far, the high-speed fibre broadband network will be delivered to 49 sites around Australia in the next year. This includes 28 new locations.
The rollout adds to the 81,700 premises that are either already connected to the NBN or where connection work is currently underway.
NBN Co 12-month rollout plan to premises 
 <img src="/images/stories/locations1.gif"> <img src="/images/stories/locations2.gif">
 
 * = new location
<ol>
<li>List is subject to change </li>
<li>Commencement date marks the handover of the desktop design to the construction contractor for final design and construction. </li>
<li>NBN Co has only named the start date of the first module in a given locality in which construction is planned over the next year. The approximate number of premises covers only those areas in which construction is due to start in the next year. Most of the sites where construction will start involve multiple modules.  There may be further construction modules and homes passed in a locality in subsequent years.</li>
</ol>
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jchancellor-FAypfDUnLy

NBN to connect 485,000 homes in next year

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The “subdued” state of the housing market has been noted again by the Reserve Bank board following the release of the minutes of its October Monetary Policy Meeting.
In its examination of local factors shaping the economy, the RBA board notes that housing prices had fallen by 3% over the year to August while the national rental vacancy rate as measured by the Real Estate Institute of Australia had “edged up in the June quarter, with increases in all cities except Perth, although the national vacancy rate remained below the long-term average rate”.
Weaknesses in the Melbourne residential market received particularly attention, with the board noting an increase in the vacancy rate “where there had been strong growth in apartment building and a slowing in population growth, in part because of falls in the number of foreign students”.
In addition, the RBA says growth in housing credit remained subdued, with annualised growth of about 5% in the three months to August.
In the September Monetary Policy Meeting, the RBA board also noted the “weak state” of the local housing market, suggesting it will play more of a role in determining future interest rate policy.
Looking beyond housing, the RBA board says the inflation outlook “appeared less concerning than was the case a few months ago”.
“The inflation outlook would be reviewed after receipt of the next round of data on prices ahead of the November meeting,” it says.
"The extreme volatility observed in financial markets in August continued through September, with large swings occurring in share prices, exchange rates and bond yields. Members note that Europe remains the main focus, reflecting market concerns about the possibility of a Greek default as well as the stability of the European banking system. These concerns had been accentuated by broader worries about the global economic outlook."
The board noted once again the complexity in trying to assess the strength of the overall economy as “economic conditions continued to vary significantly across sectors”.
“Private demand was continuing to grow at a slightly above-trend pace owing to strong investment in the resources sector. This was being partly offset by weak growth in public demand as the fiscal stimulus was being unwound, and by strong growth in imports, particularly of capital goods. GDP outcomes continued to be affected by the disruption to coal production caused by the floods at the beginning of the year, with a full recovery still not expected until early 2012,” the board says.
It also noted modest growth in household spending while growth in spending on services had been strong.
Retailing remains a concern: “The Bank's liaison with retailers suggested there was a fall in spending in early August because of the market turmoil, with this fall reversed in late August and into September. Overall, retailers continued to report subdued conditions. Consumer confidence remained low, although part of the large decline in July and August had been reversed in September.
“Indicators of business conditions had been mixed. In the mining sector, the pipeline of investment remained very strong, with another large project (the $29 billion Wheatstone LNG project) receiving final investment approval during September. This brought the value of LNG projects announced so far in 2011 to around $70 billion. More broadly, the NAB measure of current business conditions declined in August to be a little below its long-run average level. Conditions remained weak in the manufacturing, construction, wholesale and retail sectors, but stronger in the mining, transport, and recreation and personal services sectors. As had been the case elsewhere around the world, business confidence had fallen noticeably and growth in business credit remained weak.”
 
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lschlesinger-FZcF9M3vE6

RBA notes 'subdued' housing market

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An industrial property portfolio once held by Doug Rowe’s WMR Group (Waswaste Metal Retrievers Pty Ltd) has been listed for sale on behalf of receivers. 
All the properties are leased by scrap metal recycler CMA Group, of which Rowe was managing director until he resigned in May 2010. 
In July 2010, Rowe and WMR were sued by CMA Group over allegations that he breached the Corporations Act and Trade Practices Act while managing director of CMA Group. 
The litigation was settled in December 2010, with Rowe agreeing to transfer shares and make payments to CMA valued in excess of $6 million. The settlement included the termination of lease agreements for two properties leased to CMA by WMR and the variation of one lease for a NSW property. The settlement was on the basis of no admissions by Rowe or WMR. 
CBRE’s Graham Hemingway and Rory Hilton will co-ordinate the campaign on behalf of receivers and managers Ferrier Hodgson. 
The portfolio comprises three properties in Victoria, two in New South Wales, two in Tasmania and one each in Western Australia and South Australia. 
The portfolio comprises six leased assets and three properties that are to be sold with vacant possession. The leased assets are predominantly used as metal recycling facilities, and all are leased to the CMA Group. 
The properties are to be sold individually or in one line. 
They include a two-hectare commercial site at 338 Gnangara Road in Landsdale, a northern suburb of Perth. The property was purchased by WMR in December 2007 for $7.98 million. 
The NSW properties up for sale are in Penrith and consist of a 3,500-square-metre warehouse at 52 Power Street, which was purchased by WMR for $1.7 million in March 2007, and a 15,000-square-metre industrial building at 46 Charles Street, which was bought by WMR for $3.8 million in July 2006. 
Hemingway says the strength of the CMA tenancy covenant will likely be a significant drawcard for investors. 
“The strong lease profile and the price range of the assets will be of significant appeal to the private investor market, with the individual assets valued at between circa $500,000 and $11 million,” he says. 
The vacant sites are expected to generate interest from both owner-occupiers and developers. 
All but one of the properties will be offered via expressions of interest, closing November 17, 2011. 
The smallest asset, located in Bayswater North, Victoria, will be offered for sale at an on-site auction on November 17.
 
Other properties up for sale include: 
<ul>
<li>
Victoria - 73-29 Heatherdale Road, Ringwood; Unit 3, 81 – 85 Heatherdale Road, Ringwood and 242 Canterbury Road, Bayswater.</li>
<li>
Tasmania - 256 George Town Road, Rocherlea and 25 Masse Green Drive, Burnie.</li>
<li>
South Australia – 16-46 Johannson Road, Wingfield</li>
</ul>
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Metal recycling facilities for sale by WMR receivers

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The recently unveiled NSW state government reforms to the Home Building Act aimed at pumping some adrenalin in the industry will benefit builders, developers and insurers, but leave home buyers with less recourse to pursue faulty workmanship claims.
The legislation reduces warranties offered to home buyers from seven years to two for non-structural defects.
It’s been argued that the bill will assist builders, developers and insurers of new houses and apartments by taking away the unrealistic expectation that builders are perpetually liable for wear and tear in homes they have constructed.
NSW Fair Trading Minister Anthony Roberts is correct to argue it is inappropriate to have a seven-year warranty period for painting and possibly the plastering.
The minister notes a result of a 2008 Supreme Court ruling and subsequent amendments to the act in 2009 that there was potential for a claim against home warranty insurance to be made at any time.
“In effect, this means that insurers face the real risk of unending liability for home warranty insurance claims,” he advises.
Some insurers are not releasing bank guarantees provided by builders as security against their home warranty insurance policies, and this means that builders, many of whom are small business owners, are continuing to pay interest on securities being held. This was affecting the ability of these builders to take on new jobs, as their capital was tied up.
But the proposed changes could make some legitimate claims practically impossible to pursue through the courts.
Many defects do not emerge in the initial two years of a newly constructed building.
Not only is time against the home buyers. As strata lawyer David Bannerman suggests, strata flat buyers could be particularly without remedy given that to launch a claim an apartment owners’ meeting needs approval to engage costly professionals in resolutions approved by the owners’ corporation at a time when possibly unsold apartments mean the developer has effective control of the decision making of the owners’ committee.
The legislation reduces warranties developers must offer home buyers from seven years to six for the more serious structural defects. Some states offer up to a decade for claims to emerge.
The bill allows for the practical completion of each building in a multi-building project to be considered independently.
Even the legal definition as to what’s structural and non-structural is not clear-cut.
At present "structural defects" are defined in clause 71 of the Home Building Regulation 2004, which provides that a structural defect is one that causes physical damage or prevents, or is likely to prevent, the continued practical use of the building or any part of the building. Every component of the external walls or roof, including weatherproofing, is considered to be a structural element of the building.
"Non-structural defects" are, by default, anything that does not fall into the just-mentioned definition. The bill does not propose any change to the current definition of "structural defect".
But some industry groups have strong views that the current definition was too wide and requires urgent revision, which the Fair Trading Department is still considering.
Roberts says the bill will “pump some adrenalin in the industry".
"We want to remove the dead hand of government off as many small tradespeople and builders as possible," he says.
Roberts says since 2002 only 7% of claims and notifications relating to structural defects were lodged six years after the issue of the insurance certificate and that data collected by Fair Trading’s Home Building Service since 2007 shows that more than 82% of complaints about structural defects are made within six years.
Claims data produced by the Home Building Service dating back to July 2007 shows that more than 80% of non-structural defect complaints are made within the first two years.
But NSW opposition spokeswoman Linda Burney says the opposition will be seeking to amend the bill.
“Whatever the reason that the government has put forward for this change it cannot be argued that it will maintain the current level of consumer protection,” she says.
“The reduction of the time frame within which a consumer can collect on a warranty is something that the opposition cannot support.
“While we agree that burdensome regulation and red tape in the construction industry is inappropriate, improvements on this front should not come at the expense of consumers,” Burney says.
One likely outcome of the bill is that builders and developers will no longer be able to use proportionate liability laws to shift responsibility to their subcontractors for warranty breaches.
Until 2010 it was considered that the provisions of the Civil Liability Act did not apply to statutory warranty claims under the Home Building Act. However, in July 2010 the Supreme Court allowed a builder to use the rules of proportionate liability to defend himself in a statutory warranty claim.
A significant amendment raises the threshold for home warranty insurance from $12,000 to $20,000.
Industry stakeholders have expressed concern that the $12,000 does not represent the increases in building and labour costs that have occurred since 2004.
It is suggested the requirement has had a negative effect on small to medium builders and tradespeople as in order to be eligible for home warranty insurance, builders and tradespeople must meet stringent prudential requirements.
Builders and tradespeople had also raise concerns about the cost, time and effort required to obtain home warranty insurance for small-scale building works
The bill will increase the threshold at which written contracts are mandatory from $1,100 to $5,100.
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NSW builders better protected from indefinite insurance claims, but home owners lose some recourse

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The nation’s biggest mortgage lender was one of 36 lenders that cut their fixed rates in October. 
The Commonwealth Bank cut its five-year fixed rate by 85 basis points to 6.89% in October, the biggest fixed-rate cut of all the major banks, according to RateCity.com.au. 
All the major banks have cut their fixed rates by at least 50 basis points for spring, according to the mortgage comparison website. 
Since the first of August this year, 90% of mortgage lenders have lowered some of their fixed rates, with some cutting fixed rate home loans by as much as 140 basis points in that time. 
The average three-year fixed rate is now 6.61% compared with 7.43% at the start of the year. 
Newcastle Permanent Building Society is offering a three-year fixed rate of just 5.99%, equating to repayments of just over $1,600 on a $250,000 mortgage – the lowest fixed rate of all lenders, according RateCity.com.au. 
"On average, three-year fixed rates have dropped by 66 basis points since the start of August, while five-year rates have fallen by 68 basis points on average. The three-year fixed rate has moved nine basis points in the first half of October alone,” RateCity.com.au Damian Smith says. 
"For a $300,000 mortgage, if you took up the average three-year fixed rate now compared to August 1, your repayments would be $122 less per month, saving you around $4,400 over three years. 
"Take up the lowest available three-year fixed rate now and the savings would be closer to $7,000 after three years," he says.
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CBA leads big bank rate cut as 36 lenders cut fixed rates in October

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The iconic 1961 ETA peanut butter industrial building at Braybrook has been sold to a developer for $4.1 million.
The Ballarat Road site was designed by Frederick Romberg of the 1950s architectural practice Grounds, Romberg and Boyd and is regarded as an important Modernist industrial building employing glass curtain wall design. The 16,000-square-metre Melbourne site has a heritage overlay.
It was included in the 1962 publication Industriebau, an international text on industrial design, published by the German Institute for Industry.
“Formerly the ETA Butter Factory, this building is of historical significance as part of the economic boom of the post-war period,” says selling agent Richard Hutton from Lemon Baxter.
The industrial site is zoned business 3 in the City of Maribyrnong, which is compatible with office, showroom and or warehouse usage.
Set a short distance from the flagship Masters Hardware site, the area is experiencing transformation from traditional industrial and manufacturing warehouse premises into modern high-tech office/warehouse and showroom/retail facilities, Hutton says.
The location, which was once mooted as a car dealership, is about 10 kilometres from the CBD.
Many of Braybrook’s factories have closed including metal perforators Richardson-Pacific, Rothmans cigarettes and Invicta carpets.
During its time on the Victorian Heritage Register the building was been allowed to fall into disrepair and has been vandalised, including the removal of all the glass panes in about 2008.
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Developer buys derelict iconic ETA peanut butter factory 

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New housing approvals in NSW and Victoria fell sharply in August, but Queensland recorded a jump in approvals, according to the Australian Bureau of Statistics.
Housing approvals in Victoria fell by almost 10% in August on a seasonally adjusted basis, according to the latest ABS data.
New South Wales was the other major market to record a significant fall over the month, with building approvals for houses falling 4.3%.
For the 12 months to August 2011, the total number of private-sector housing approvals is down 9.5%
The 1% drop in residential approvals in August followed a small rise of 0.2% in July.
As expected following the introduction of the Queensland Building Boost Grant available from the August 1, Queensland recorded a 16% increase in housing approvals while Western Australia managed a modest 1.6% increase.
The drop in private sector housing approvals was offset by a big jump in unit approvals.
Excluding houses, seasonally adjusted estimates for dwellings rose 35.1% in August following a rise of 0.4% last month.
Westpac senior market strategist Damien McColough says unit approvals are less of an indicator of the near-term trend of the housing sector.
Overall, private-sector dwelling approvals (units and houses) increased by 11.4% in August following a rise of 1.8% in the previous month.
For the 12 months to August 2011, residential building approvals are down 5.5%.
Helen Kevans, an economist at JP Morgan, says the overall improvement in approvals should not have much of an impact on the RBA’s interest rate outlook as its focus is on Europe and global economic issues.
"I think the RBA is focusing on what is happening offshore and what is happening in financial markets and, in particular, funding markets," she says.
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Housing approvals fall in Victoria and NSW: ABS

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More than two-thirds (70%) of lenders are now requiring a deposit of as little as 5% in an effort to encourage more borrowing and to “kick-start” a sluggish mortgage market, according to comparison website RateCity.com.au. 
“Almost 70% of home loans in our database now offer up to 95% of a home's purchase price, which is the highest loan-to-value ratio levels we've see in more than two years, up from 49% 12 months ago," says RateCity CEO Damian Smith. 
“All major four banks now offer home loans with up to 90% LVR while Commonwealth, NAB and Westpac also offer up to 95% LVR on some of their home loans.” 
Lenders are relaxing borrowing criteria, having already used the other levers – negotiating on rates and fees and cutting fixed rates – available to them in the absence of an official interest rate cut. 
It comes as expectations of rate cut on Melbourne Cup Day subside on the back of a drop in unemployment. 
"There’re three things lenders can do in the absence of a rate change from the Reserve Bank. First, they negotiate on rates and fees – we’ve seen ads from the big four showing their willingness to negotiate variable rates, and we think many borrowers should be able to get variable rate loans well below 7%,” Smith says. 
“Second, they’re continuing to cut fixed rates. The average three-year fixed rate is now 6.62%, versus 7.38% in July this year, with the lowest at 6.25%. 
“But finally, they’re also proving willing to lend to people with less deposit or equity, by increasing the loan to value ratio. This means many more potential borrowers are 'eligible' for loans than might have been the case just 12 months ago.” 
Home loans with up to 95% LVR over the past 12 months
<div align="center">
<table cellpadding="0" cellspacing="0" border="0" style="width: 470px;"><tbody>
<tr>
<td nowrap width="20%"></td>
<td width="41%">
Number of loans with up to 95% LVR
</td>
<td width="37%">
% of RateCity database *
</td>
</tr>
<tr>
<td nowrap width="20%">
Sep-11
</td>
<td nowrap width="41%">
1,690
</td>
<td nowrap width="37%">
66%
</td>
</tr>
<tr>
<td nowrap width="20%">
Mar-11
</td>
<td nowrap width="41%">
1,532
</td>
<td nowrap width="37%">
59%
</td>
</tr>
<tr>
<td nowrap width="20%">
Sep-10
</td>
<td nowrap width="41%">
1,088
</td>
<td nowrap width="37%">
50%
</td>
</tr>
</tbody></table>
</div>
Please note: total home loans monitored by RateCity, the total number of home loans available varies month to month. Source: RateCity. 
According to RateCity, there were more than 40,000 fewer first-home buyers in the last 12 months compared with the average of the last four years.
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Lenders enticing borrowers with low deposit requirements

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1. Lack of research
Most investors fail to properly research the market and understand the relationship each sector (office, retail and industrial) has with the local economy, nearby competition and the marketplace itself.
2. Poor analysis
Many investors fail to thoroughly analyse and research their chosen properties as far as the overall economics, calibre of the tenant and any related risks that may be involved.
3. Lack of commitment
Investing in commercial property requires a reasonable degree of hands-on involvement. Some investors make the mistake of believing they can be absentee landlords. You at least need to be involved at a strategic level.
4. Over-borrowing
Negative gearing is fine. But you still need to start with sufficient equity to ensure that your investment is not over-leveraged. Always keep some funds aside for unforeseen issues that may arise.
5. Lack of understanding
The ownership of Commercial property needs a basic understanding of things like tenancy law, building construction, how to add value, recognising market trends and so on. All of these can be very easily addressed.
6. Price vs. value
Some beginners tend to believe a cheap price means good value and a sound investment. Instead, you need to look behind what is being presented to discover the true underlying value.
7. Over-estimating your skills
To be a really successful commercial investor, you need to build up a trusted team around you — to provide valuable input in the areas of
<ul>
<li>analysis and due-diligence,</li>
<li>negotiating the purchase,</li>
<li>vetting the documentation,</li>
<li>ongoing property management,</li>
<li>determining the time to sell</li>
</ul>
8. Lack of diversity
After you've purchased your first property, you need to widen your perspective — both geographically, and across the various sectors of commercial property. Never simply have all your eggs in one basket.
Chris Lang is an advisor to commercial property investors and gives keynote speeches and regular seminars on the best way to invest in commercial property. He maintains a blog, <a href="https://his-best.biz/" title="Chris Lang's blog" target="_blank">his-best.biz</a>, which he updates regularly about the best way to get the most out of your commercial property investment.
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chrislang-EQKojcgJPV

Eight reasons investors can fail when investing in commercial property

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It’s somewhat heartening to see the Wall Street protests gathering momentum across major Western nations.  Heartening because ordinary people (99% of us) are starting to realise we do have a voice in a world that all too often rewards the rich above the needs of the poor.  There’s no doubt our country is in a much better position to weather events than parts of Europe and even the US, although we’re not immune to the global eruptions that continually erode  investor confidence and threaten to topple nations that were once too big to fall. However, I’m confident in the resounding Aussie spirit to push for the changes we need for a healthy future.  No one can forget the recent Queensland floods where a large army of ordinary people turned out in droves to help rebuild communities while many insurance companies refused to lift a finger. 
We’re always promised security, shelter, affordable food and superior medical treatment by our pollies, but whichever side is in power, we’re usually disappointed at the outcome.  Before the “voice” of social media, our words of dissent were sounded behind closed doors – however now they can be shouted out for all to hear and it’s a privilege to bear witness to this new source of power.   Perhaps this influence can spread to our housing market because – as headlines all too often scream out – the dream of owning property is no longer feasible for a growing number of citizens.  It harks back to 1974 when Gough Whitlam aroused passions in his ‘It’s Time’ speech by pointing out: “The land is the basic property of the Australian people. It is the people's land, and we will fight for the right of all Australian people to have access to it.”
A recent report conducted by ANZ –Asset Returns: Past, Present and Future – rightly <a href="https://www.propertyobserver.com.au/residential/owner-occupied-housing-top-performing-asset-over-24-years-but-not-in-the-next-decade-anz/2011100651835" target="_blank">pointed out that residential property has had “the highest returns of any asset class over the past 24 years.”</a> The results of the report state that “Residential property averaged annual returns of 12%, compared to 8.9% for equities”.  It should be pointed out that the residential property in question is the principal place of residence – not a negatively geared investment property.  The reason being, not only is it exempt from any capital gains tax when sold, but also the “boom” in prices from easier lending conditions and lower rates witnessed since the 1980s has allowed growth in this asset class to outperform  most other investments.  The report goes on to point out that this level of growth can’t last perpetually, and over the next few years the bank expects shares to win the historic battle of “shares verses property”.  However, shares don’t provide shelter and home ownership will always be a needed priority for the majority and therefore a right we must fight to maintain.
Each year we receive the Annual International Housing Affordability Survey, and each year it lists Australia as having one of the most unaffordable housing markets in the world. The survey covers 325 markets across Australia, Canada, Hong Kong, Ireland, New Zealand, UK and the US. The latest report condemns Sydney as the second least affordable market behind Hong Kong, which tops the list.  (Melbourne doesn’t fare much better – coming in at number 321 out of the 325.) The report uses a system called the “median multiple”, which is calculated by dividing the median house price by the gross annual median household income.  According to the survey “affordable” house prices should have a ratio of no more than three times the average income level. We haven’t seen a ratio like that in Australia’s metropolitan regions since the 1980s (during which time interest rates were significantly higher). The same can be said for London, for which you’d have to go back to the 1970s to find a ratio at three times. 
If you compare Australia with London and other European cities you’d find the general cost of living more affordable with petrol prices, eating out, entertainment and travel all well under those offered in other major cities.  Therefore, if drawing comparisons, we arguably have more disposable income to put towards a mortgage.  However, the difference between here and the UK or US is our inability to spread away from our major capital cities due to high land prices and the lack of adequate infrastructure to enable a reasonable commute to inner-city areas.  This means many home buyers are only willing or able to consider city-ring suburbs, and these are largely unaffordable for those who don’t already have a foothold in the market.  We simply must start setting up our regional centres with bullet trains and capital city amenities – just as the US, UK and Canada have seen fit to do – if we want to provide long-term affordable options for property buyers.
This weekend the REIV released its September quarterly results showing <a href="https://www.propertyobserver.com.au/residential/melbourne-median-house-prices-fall-in-see-sawing-market/2011101651944?source=flicker1" target="_blank">the Melbourne median house price has deflated $16,000 (2.8%) to $551,000</a>, from a previous recorded median of $567,000.  The overall gain, year to date, is a meagre 1.4% – which is below the rate of inflation and flags our ever-present affordability constraints.  However such small changes in the median are movements we negotiate daily and therefore mean little when it comes to purchasing property.  For example, when assessing value in a flat market, a comparable sale 12 months old can be just as significant as a comparable sale a few weeks old – little changes.  We’re not facing freefalling house prices, nor are we likely to do so.  Those who have already achieved their spot in the expensive inner- and middle-ring suburbs have taken up all the best seats and are happy to sit tight until things improve.
Melbourne has significant problems because it has the highest population growth in Australia, and it’s lacking much-needed family accommodation.  Even for those willing to move to the outer suburbs and purchase a new property they’re not necessarily faced with affordable options. In a report commissioned by the Housing Industry Association for the recent tax forum, it was stated that 38% – that’s $180,000 – of the purchase price on an average sized new property in Melbourne is immediately taken up in taxes – and it’s worse in Sydney, with 44% being swallowed up in taxes.  In New South Wales there are additional problems for builders who are hamstrung by the new Environmental Planning and Assessment Act, which differs across councils and makes the issue of building new homes extremely complex. There is simply nothing to encourage new homes sales in regional areas as a feasible alternative for home buyers or spark growth in this part of the industry.
Too much time is taken up discussing housing affordability, yet we never see broad-based changes.   If we’re going to grow as a nation and maintain our standard of living, we must start lobbying for ways to provide a better functioning housing system.  Until we make our voices heard, nothing’s going to change fast enough to ease the pain.
Catherine Cashmore is senior buyer advocate for <a target="_blank" title="JPP" href="https://www.jpp.com.au">JPP Buyer Advocates</a> – the largest dedicated buyer advocacy service in Victoria. With extensive experience in all matters regarding real estate, JPP successfully purchases and negotiates more than $100 million worth of property each year.
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