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.

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<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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The property at 72-76 Bayswater Road, Potts Point is now 40 luxury apartments, next to the Vibe Hotel Sydney. The land was recently valued at $8.9 million. In 1982 my family owned this parcel of land there and had done for a very long time, in fact for over four decades. On the land they operated a 60-room bed and breakfast.  As people do, they grew weary of the property and the going concern of the bed and breakfast, therefore the duly sold the property for $200,000.  At the time, my parents spent the profit! My mother bought a Datsun sunny motor vehicles and a two-bedroom unit at North Bondi. Five years later 72-76 Bayswater Road, Potts Point sold for $4 million and has since re-sold again for more and now the land alone is worth over $8.9 million. 
So what did those original buyers understand about the property and the area that my parents didn’t? At the time Sydney’s Potts Point was very different landscape to what is today. Being the neighbouring suburb to Kings Cross it was the underbelly of undesirable activity. Being only two kilometres to the city, it was and is still a hotbed of action. 
At the top of Bayswater Road Potts Point, you have the most amazing views of the city and ability if high enough to see the majestic Sydney Harbour. I cannot help to feel that person who acquired my old family estate to be a visionary.  To see through the mist of undesirable activity and know that the property was a diamond in the rough would have taken a lot of market knowledge, surely?
 
Most people look at real estate retrospectively and those that do tend to be home owners not investors.  I think every family has a story about the property that got away from them.  Buying, holding and selling real estate takes some market understanding of the suburb the real estate is in and the suburbs ability to change.  In real estate we call this change to a suburb gentrification. 
The sole purpose of an investor is to turn a profit. Real estate is the only asset class that can be controlled by the people, its bricks and mortar, and it truly is “capital in the hands of the people”. No other investment offers the average Australian the ability to engage the powers of leverage and be able to have hands on self-managed approach to the owning an asset.  The challenge is usually not the ownership; it’s the lack of vision of the future that is the dominant mistake by amateur buyers. 
It is hard to imagine for those many who haven’t yet invested into this wonderful wealth creation asset,  as the assumption by many is that real estate is simply home ownership. The tone that is set by investors and visionaries in real estate is a very different to that of a home owner. Investors strive to invest where markets will grow and change and emerge for the better. Home buyers buy on affordability to nest. 
To understand where to invest in real estate, you need to follow the spending habits of government and the consumer habits of people and the places they inhabitant; success in real estate comes with understanding many aspects of the market in detail however one predominant  key to an investors success is researching or even scrutinising the town plan. 
See in the end, it was my family’s naivety to the “highest and best use” of the suburb that robbed them of an achievable small fortune. For in 1987, $4 million was a vast sum of money. Had they just learnt their local town plan, they would have understood the pending alterations to the town plan in Potts Point allowing zoning and infrastructure changes that eventually lead to the pursuant gentrification of the area! They surely would have held the property goldmine they were sitting on.....if they only knew! 
Town planning 
Explaining and understanding town planning is sometimes a little technical, so the easiest way I think of it is as follows: the thousands of moving parts to a city, town or suburb and how these parts relate to one another. Quintessentially it is “the greatest good for the greatest number”. 
When factoring in real estate and the town plan, its bests to break down town planning into just a few sections. 
<ol>
<li>People</li>
<li>Places </li>
<li>Infrastructure</li>
<li>The state town plan </li>
<li>The local environment plan or LEP ( NSW Terminology ) and the development control plan or DCP (NSW Terminology )</li>
</ol>
The principle behind examining the town plan is that investors can find a better property in more sustainable areas if the locality is progressive and well planned. Extracting value through real estate is most easily done when the market does that for you. Ultimately you want to control assets, add as much value to them or have the market provide a value add to ensure the yields remain high for as long as possible. You don’t want to buy real estate and sell it unnecessarily though a lack of education on what is a progressive town plan and what is not.  Let’s examine some of the variables. 
People – Anthropology is the study of people. Demographics is a huge driver in real estate and within any culture there are groups that make up and drive the economy.  People have a huge impact on property prices.  The key is working out where they want to live next and what they are likely to spend their money on. I always find demographics fascinating as the trends are constantly evolving with time. Each generation has sub cultures that they form! 
These changes in household structure mean Australians have an increased desire to re-shape what property looks like and means to them. See the house sizes in Australia are getting smaller. Research shows that many people no longer want the quarter-acre block and within 15 years 30% of all homes in Australia will be single-person households. 
Demographic influences have a wonderful impact on property; study the spending habits of people and you are sure to find a profit! Understand where people see value next and you will find an emerging suburb to buy in. The areas town plan may have already begun to accommodate the needs of the emerging community and will act as a gage as to whether to invest or not. In the 1900s there were five people to a house in Australia, now it’s around two. Everything we do affects housing, for example divorce!  One out of three couples gets divorced, that rate puts pressure on the property market, now mum and dad both need separate homes. 
Places
Linking the study of people and social movements takes vision!  So why is it, that some of the grungy, cheap areas we all know about with high crime rates and undesirables, become the areas that are trendy and fashionable that eventually leads to  spectacular dwelling capital growth and high house prices. Places like Collingwood Melbourne, Redfern or Marrickville Sydney or Fortitude Valley Brisbane are good examples of urban renewal and gentrification at work. 
The real estate market exposes itself to value and opportunity regularly but not every suburb has value thrust upon it at the same time. In real estate there is an old phrase, “It is better to buy the worst house in the best street, than the best house in the worst street.” However I would like to coin a second phrase. “It is better to buy into a suburb that is a blank canvas rather than into a suburb that is a Picasso.” 
If an area is starting to be exposed to change but full change hasn’t yet occurred that is wonderful sign that capital growth will be assured in the real estate in that area! Bowen Hills in Brisbane is a classic example of gentrification that is yet to occur but surely will.  Located just two km to the CBD of Brisbane it is a solid market with an extraordinary future town plan. Yet, it is currently a “blank canvas”! Conversely other suburbs that are a similar distance to the CBD of Brisbane offer fine coffee and one can eat, drink and socialise with an array of merchants to choose from, these suburbs are bustling small pockets of activity. However these suburbs are already “Picassos”. In other words people are paying top dollar to live in the area and if you buy there, you are just paying for someone else’s capital growth. The science of understanding gentrification is to buy in a neighbourhood that is due to become the next great work of art. 
 
Infrastructure - Developers and governments spend billions of dollars on Infrastructure each year. They provide roads, schools, hospitals, transport, and commercial and office infrastructure to boost the needs of the community. And in doing so, re-shape and redefine the planning requirements for both the state and local government areas. You will find growth if you can locate this emerging infrastructure spend. Be sure the infrastructure is real and forthcoming through, and not fictitious stories, political propaganda or a fanciful hope. Check the town plan and government reports to validate your position. 
Aligning your investment next to huge infrastructure spends is a sensible way to gage future growth. I always consider where the public listed property companies are choosing to invest. It would be naive to think they do not have the best town planners working for them.  I follow their investments with great interest and work out how to buy for less in the same area. Governments and listed companies will spend a fortune, literally billions and billions of dollars influencing areas. Capturing that influence is a very smart way of buying property for the long term. 
State town plan - Each state puts out a plan or vision for the future. It is usually a twenty five year agenda of what the city will look like.  Economic hubs such as cities are areas of state significance.  Where people work is typically high on the radar, when considering a suburb to invest in, when considering the states town plan there is llegislation requiring the consideration of the environmental impact of the state driven development.  The state tends to control the following elements. Understanding these elements can help you understand a whole range of drives, such as supply and demand, economics and population movements and whether to invest in that state at all. 
At age 18 I was a real estate agent in North Ryde in Sydney, a government planning imitative the “Chatswood to Epping” rail link was touted to unfold over a three years period.  As a result of the announcement by government many Investors speculated and bought in the area based on the news. It took some six years before a track was laid and ten years for the infrastructure to be delivered. So the lesson is to buy just as they start the construction. I have never seen a major road or rail network half built! But have seen plenty of false starts. 
The local environmental plan and development control plan or DCP (NSW terminology)
LEP – Each local government area puts out a plan or vision for the future. It is on display within the council. It factors in many aspects and is very useful for understanding opportunities and restrictions of an area. This change can literally be street by street. So you need to get an understanding of it.   The single biggest change that can occur in the local town plan is height and density changes.  This forms the backbone of subdivision and extensions and adding value principles for real estate. 
 
Development control plan or DCP - Each area has a development control plan, so when factoring in the “highest and best use of real estate” you need to engage the plausibility of approval. In other words will the parcel of land pass the development consideration that need to be taken into account? If it does, you could well be on your way, to extracting a profit!
Some elements of consideration are listed below:
<ul>
<li>Car parking</li>
<li>Height limits</li>
<li>Building lines – distance shadows etc</li>
<li>Laundry facilities</li>
<li>Water, sewerage, drainage and electricity </li>
<li>Beatification of unused land – landscaping </li>
<li>Minimum frontage and depth</li>
<li>Minimum block size</li>
<li>Plot ratio – number of floors</li>
<li>Density ratio – number of one-, two- and three-bedroom units</li>
<li>Ingress and egress, ( in and out) driveway, right of way, walkway</li>
<li>Fire ratings</li>
<li>Covenants, caveats, encumbrances </li>
</ul>
 
Town planning is a key education requirement for your journey through investing. It can be the difference between selling a property for $200,000 or for $4,000,000. By researching carefully what attributes the people and a suburb have by exploring the areas ability to embrace change via the town plan you may find opportunity. Often suburbs can be targeted for re-gentrification after similar suburbs have been re-vitalised. Property can reap the benefits of this catalyst for capital growth. Seeing the potential and understanding an area and judging change will serve you well. 
The study of real estate fundamentals is important. It will serve you well and serve you for a lifetime. If people took the time to understand and school themselves in real estate practices, wealth would not just be for a select few. Town planning is an imperative schooling for all investors.
Sam Saggers is CEO of<a href="https://www.positiverealestate.com.au/ME2/Sites/Default.asp?SiteID=697F1E57F8A54C7F9582C3C49417EEC4" target="_blank"> Positive Real Estate.</a>
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ssaggers-cYw3HLcXnJ

Successful property investment requires vision

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The shabby face of Fremantle may get a much-needed makeover, with the council entering discussions about the redevelopment of the languishing Kings Square site.
Fremantle entered into a memorandum of understanding with Perth private equity firm Sirona Capital Management, which owns the ageing Myer building on the site.
Sirona, which has retained property developer Luke Saranceni to run the project, plans to deliver 20,000 square metres of refurbished retail and commercial space worth $80 million in 2013.
Earlier this year Myer was considering closing its door after 40 years of trading there. A delegation from Fremantle Council visited Melbourne to persuade the retailer to stay. It currently trades from only two levels of the four-floor building, which Perth financier Kelvin Flynn’s Sirona bought earlier this year.
The council owns much of the property on the historic square and is considering putting a hotel on the site. The MOU allows feasibility studies negotiations with Sirona to take place until June 2012.
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andreadixon-oif3j7eKne

Kings Square in Fremantle set for a facelift

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Philip Smith, the Colliers agent who helped facilitate the transformation of a Wollongong Hotel into a psychiatric facility, says similar transformations could prove beneficial for struggling regional tourism operators by providing alternative income streams. 
“We understand there are some Sydney hotels trying to deals with some major hospitals to take on post-natal mums with infants for the first days following childbirth,” says Smith, Colliers national director of transaction services for health care and retirement living. 
While he says such transactions are not common, he suspects more could follow, “particularly in relation to older properties that are no longer ‘fit for purpose’ or up to expectation standards. 
“There are some fundamental changes coming to the aged-care industry in Australia, and public hospitals are really stretched from post-op and medical patients. This may present an opportunity. 
“I worked in the UK for a long period, and saw some small hotels and B&amp;Bs open up their properties for emergency housing and interim care, key worker accommodation or even asylum seeker temporary accommodation.” 
Smith brokered the deal between Australian Property Trust, owner of the Rydges Wollongong and new tenant Evolution Health Care. 
Since the APT made the initial hotel investment in 2005, Smith says many new competitors have come in, effectively making Wollongong “over-bedded” in terms of hotel beds. 
At the same time he says the healthcare market has long recognised that the Illawarra region is poorly served in terms of private mental health facilities, but the costs associated with new build hospitals are generally prohibitive. 
“There is no private mental health facility in the Illawarra, and given the location near the city centre and public hospital or health precinct, it was logical that the property was better suited as a health facility, “he says. 
“Conversion of existing accommodation facilities are generally more cost-effective,” he says. 
“With APT, we explored this concept of a number of operators, and got a long way down the track with negotiations with another major operator, but final terms could not be agreed. Evolution Care then came in and both parties showed enough flexibility to ensure a sensible agreement could be reached,” he says. 
Smith says it took only around two months from beginning to end to complete the agreement. 
The trust weighed up the current value of the hotel against the cost of conversion to a sub-acute private hospital with a secure lease in place. 
It also undertook discussions with mental health specialists in the region to gauge the demand in the community for such a facility. 
“From there, it was a question of whether the lease payments were affordable,” Smith says. 
APT will undertake a $4 million refit of the hotel, and Evolution Care has committed to a long-term lease arrangement.
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lschlesinger-FZcF9M3vE6

More hotels could become hospitals in wake of ailing leisure sector

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The wealthiest 20% of households have increased their average net worth 15% since 2005-06, while the poorest 20% of households saw only a 4% rise, according to the Australian Bureau of Statistics. The wealthy households had an average net worth of $2.2 million per household, and accounted for around two-thirds of total household wealth. 
The poorest 20% of households had an average net worth of $32,000 per household, which accounted for 1% of total household wealth. The average wealth of an Australian household in 2009-10 was $720,000, up 14% since 2005-06, with one in five households owning property other than their own home, including holiday homes and rental properties.
<img src="/images/stories/abswealth.gif">
Source: Australian Bureau of Statistics 
The research concluded there was a strong correlation between net worth and home ownership, and for many households, their dwelling is their main asset. Owners without a mortgage had the highest mean net worth of $1,179,000 which is 64% higher than the mean net worth of all households, at $720,000. 
Renters had lower mean net worth of $158,000 – constituting 22% of the average for all households. Private renters averaged net worth of $176,000, while renters from state/territory housing authorities averaged net worth of $42,000.
The survey found wealth was distributed between households somewhat differently to income. 
While the 20% of households comprising the lowest net worth quintile accounted for only 1% of total household net worth, they accounted for 12% of total gross household income. 
The 20% of households comprising the lowest gross household income quintile accounted for 4% of total gross household income but 13% of total net worth. 
The ABS concludes the differences in the distribution of wealth and income partly reflects the common pattern of wealth being accumulated during a person's working life and then being used during retirement. 
Many households with relatively low wealth have relatively high income, especially if they are younger households, and conversely older households may have accumulated relatively high net worth over their lifetimes, but have relatively low income in their retirement. In addition, some households have low or even negative incomes due to business or investment losses, but still have relatively high levels of net worth.
The ABS found differences in the average levels of wealth between the states and territories, with Queensland, South Australia and Tasmania below the national average. Household wealth was more concentrated in metropolitan areas. The average net worth of households located in capital cities was $772,000 as compared with $629,000 in areas outside of capital cities. Owner-occupied homes were the main asset held by Australians. Mortgages on them were the main liability, with over two-thirds of Australian households owning their own home either outright or with a mortgage. For households that owned their home outright (2.7 million households), the average value of the home was $541,000. For those households with a mortgage on their home, the average value of the home was $521,000, and the average mortgage outstanding was $188,000, giving a net home equity of $333,000. The average value of household contents was $61,000. The principal outstanding on vehicle loans averaged $2,300 per household, and the average household credit card debt was $2,600. Superannuation was the main financial asset held by households, with three-quarters of all households having some superannuation assets. For households with superannuation, the average value of their superannuation was $154,000, but for half of these, the value was less than $60,000. 
The group with the highest mean household net worth was couple only aged 55 to 64 ($1,317,000) with many either nearing the end of their time in the labour force or have recently retired, that is, they are at the end of the main wealth accumulation period. 
People over 65 had lower net worth on average ($1,111,000 for couples and $572,000 for lone persons), at least partly reflecting a run-down of assets to support consumption in retirement. 
The ABS notes these older cohorts may also have had less opportunity for capital accumulation in earlier decades, for example, because women had lower participation rates in the paid work force. Single people aged under 35 had the lowest mean household net worth, at $151,000. The mean household net worth of couple only households with a reference person aged under 35 was $237,000 or $119,000 per person. 
One-parent households with dependent children had a mean net worth of $276,000, compared with $827,000 for couple family households with dependent children. 
Home ownership for the one-parent family households was about half that of the couple family households – 40% and 77% respectively.
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jchancellor-FAypfDUnLy

Rich getting richer, poor getting moderately left behind: ABS

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A string of good or at least better-than-expected data this week has dimmed expectations for a rate cut next month, but a worsening of the European debt crisis would likely force the central bank's hand, economists say.

CommSec economist Savanth Sebastian says yesterday's official job figures showing the unemployment rate had dropped one percentage point to 5.2% had "muddied the waters to some degree", but a rate-cut decision would be driven by events in Europe.
"If the RBA is going to cut rates, it's going to be on global concerns rather than domestic conditions," Sebastian says.
"And if the Reserve Bank policymakers do cut rates, it'll be to shore up confidence rather than provide stimulus," using the example of the Reserve Bank of New Zealand's decision to slice rates after the Christchurch earthquake.
Sebastian notes that jobs growth detailed in yesterday's ABS figures – with 20,400 new jobs created, including 10,800 full-time jobs – mainly came from the mining states.
There were 7,300 new jobs in Western Australia, and 4,900 new jobs in Queensland, plus growth in Victoria (3,400) and South Australia (900). New South Wales lost 1,300 jobs, and Tasmania lost 400.
The number of part-time jobs, up 9,600 to 3.41 million, was a record. The participation rate was steady at 65.6%.
The ABS figures follow a better-than-expected National Australia Bank business survey released on Monday.
CommSec's Savanth Sebastian says although the RBA has watered down its rhetoric on monetary policy in recent weeks because of the turmoil overseas, it would likely be interested in sitting on the sidelines because of Australia's robust terms of trade.
"We'd be advocating view rates on hold, but if we see external shocks then a cut is likely on the cards," Sebastian says.
The Reserve Bank last week drew attention to the "softer" labour market and consumers "more concerned about the possibility of unemployment rising", as it chose to leaves rates on hold at 4.75%.
But Westpac Banking Group says the numbers "reflect the statistical noise you would expect in a soft labour market that does not have a strong trend."
"We forecasted positive jobs numbers for September, mindful that it took the post GST volatility (back in 2000) to generate three consecutive monthly negative prints on jobs. Even the GFC could not do it," Westpac says.
The bank describes the Australian labour market as "soft rather than robust or collapsing."
"The Australian economy has shed close to 5,000 jobs over the last six months so it is clear the labour market has going through quite a soft patch," it says.
"We are forecasting the unemployment rate to peak at 5.75 by mid-2012. While WA is set to improve, and QLD should lift from here, the drag from the southeast (VIC and NSW) will be enough to see a rise in overall unemployment."
ANZ says the result "certainly doesn't change the story that trend employment growth has weakened considerably in the last six months."
"It would be a brave forecaster that suggested that this signals a turning point, given leading indicators of employment (such as the ANZ job ads series) remain soft," its senior economist Craig Michaels says.
Michael says the rebound serves as a "welcome stabilisation" for the RBA, and might give the central bank confidence that the boom states and match the sort parts for the time being.
"Whether the RBA will give greater credence to the leading indicators of employment, which currently point to a further modest rise in the unemployment rate, will be a key determinant of the outcome of the Melbourne Cup policy deliberations," he says.
"Despite today's bounce, we think weak leading indicators for employment, flat trend employment growth and the now weaker outlook for inflation means there is scope for the RBA to deliver an 'insurance' rate cut next month, given still heightened global uncertainty."
This article originally appeared on <a target="_blank" href="https://www.smartcompany.com.au/economy/20111014-string-of-good-data-might-stop-rba-from-cutting-rates-economists">SmartCompany</a>.
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cknowlton-QnEa6ntUYP

String of good data might stop RBA from cutting rates: Economists

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Grocon is suing the Gold Coast apartment developer Juniper, alleging it has failed to make payments on time for the construction of the $850 million Soul, Surfers Paradise tower.
But Juniper’s managing director Graeme Juniper says: “Juniper has always paid, and will continue to pay, in accordance with certification.”
With an 82-page statement of claim, Grocon also launched action against the building certifier, Rider Levett Bucknell, in the Brisbane Supreme Court proceedings.
Grocon’s contract to build Soul was worth more than $300 million, according to the Australian Financial Review.
Grocon claims it is not obliged to pay liquidated damages for some delays.
Juniper says it has paid what it has been ordered to pay and the most recent certificate says that Grocon owes Juniper $16 million. 
The independent certifier is Rider Levett Bucknall, a leading global organisation that has been involved in some of the world’s largest commercial construction projects. 
“Juniper denies Grocon’s claims and welcomes the opportunity to address them in the appropriate forum as soon as possible,” Juniper says.
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Grocon-Juniper stoush over Surfers Paradise Soul tower

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Blacktown estate agents – who have been in the spotlight this week following the auction finale of Channel Ten series The Renovators –are seeing first-time home buyers aiming to take advantage of the state government’s reduced stamp duty offering on established cottages before the waiver runs out December 31.
Terry Li, the estate agent who sold the fibro cottage to Channel 10 for The Renovators series, says the market has marked changing characteristics.
“In a short-term period we will be experiencing a strong local market demand from first-home buyers, as there are already a large number who want to take the advantage of the stamp duty waiver,” Li says.
“But early next year we will be experiencing  a slower market as first- home buyers holds back and monitor the market movement.
“Investors have been on hold due to the lack of confidence in the share market. The past losses in the share market has yet to recover,” Li says.
He notes Blacktown is experiencing  4.6% annual growth, with a $365,000 median house price.
“The average discounting rate on houses at 7.1% makes it very affordable for the western suburbs, with a newly built shopping centre and train station upgrade and most recently car parking facility for the train commuters.
“The lowest for the suburb was back in 2007 with a $305,000 median price and a negative 4.7%.
“The market is gradually recovering,” he suggests.
James Lee at Comfirst Real Estate says the current market is still good.
“Buyers are mainly first-home buyers.
“I anticipate the market will slow down after the abolishment of stamp duty for first-home buyer exception from January 2012,” Lee says.
He suggests investors demand has slowed down in anticipation of a reduction in price after January 2011.
The properties in demand were priced between $350,000 and $400,000 for fibro houses and between $400,000 and $450,000 for brick veneer houses.
Lee doesn’t expect the Harold Street sale on The Renovators will affect the market.
Century 21 Joel Hollings, who assisted in the marketing of the $440,000 sale on The Renovators, says the market is relatively steady with a good mix of buyer and sellers.
He says the gap is widening between unrenovated houses and renovated  ones, which he says is a good sign for a true marketplace.
“In good times some of the unrenovated homes sell for more than what we expect as buyers get caught up in the hype and do not research properly,” he suggests.
He says the auction result has shown the Blacktown has lost its old stigma and “will be a choice of many more families to come”.
“We see the market staying stable in the coming months, although some commentators have said the market will drop after the first home buyers stamp duty exemption drops off.
“However as Blacktown is the lowest-value area in our basin we believe people will adjust their budgets from the more expensive areas as seen during 2008-2009 GFC and travel back into our market, thus counteracting any downturn caused by first-home buyers dropping off.”
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First-home buyers emerging in Blacktown in the aftermath of The Renovators finale

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Brantwood Hall, a block of 13 apartments in Edgecliff, in Sydney’s eastern suburbs, has been listed for October 27 auction.
The New South Head Road listing is under instructions from receivers. It’s tipped to fetch more than $5 million.
The four-floor Art Deco block comes with 12 apartments with one bedroom, living room plus sunroom each totalling about 58 square metres. There is also a three-bedroom penthouse with about 300 square metres of top-floor space including balcony. It has possible strata conversion potential, according to its Ray White Double Bay listing agent Craig Pontey.
Its current gross annual return is $270,000. After renovations with new kitchens in 1986 it was $110,000, reflecting just 3.6% annual growth during the past 25 years.
“The gross annual rental could be improved,” says conjunctional Ray White agent Violet Farebrother.
Woollahra Council rates are $2,058.27 a quarter. The water rates are $1,567.65 a quarter.
Buyers have been given comparables of similar blocks that have been sold recently or provide a good indicator of the market.
<img src="/images/stories/east1.jpg">
83 Oakley Road, North Bondi
Sale Date: July  2011
Sale Price: $2,800,000 (as advised by APM)
Land Area:  493 m2
Equated Market Net Yield: 3.02%
Description:   Improvements incorporate a refurbished block of 4 x two bedroom plus sunroom flats with single garage. Flat areas of approx. 103 m2 each.  Estimated gross annual income of $117,321, which may be dissected as $550 per week for each of the four flats and an additional $50 per week for the single garage. Equated net income of $84,696 per annum. This sale equates to $700,000 per flat or about 3% net yield per annum.
<img src="/images/stories/east2.jpg">
8 Stafford Street, Double Bay
Sale Date: June 2010
Sale Price: $5,275000
Land Area:  428m2
Equated Market Net Yield: 3.26%
Zoning: Residential 2(b)
Description:   Improvements incorporate a similar-type, older style, residential flat building providing 9 x 2 bedroom, strata title units. Gross annual income at time of sale was advised at $226,561 per annum, or an equated net yield of about $172,186 per annum. Our analysis indicates this sale occurred at the rate of about 3.26% net. Total accommodation floor area for the nine units was advised at 543m2 which indicates a sale price at the rate of about $9,714 per m2 of living area.
<img src="/images/stories/east3.jpg">
118 Warners Avenue, Bondi Beach
Sale Date: May 2010
Sale Price: $5,310,000
Land Area:  419 m2
Equated Market Net Yield: 3.64%
Description:   Improvements incorporate a refurbished block of 6 x three bedroom units (approx. 95m2 each) with 3 x open carspaces.  Some units with ocean views. Strata title block. Gross annual rental of $241,800 per annum. DA for conversion to 10 apartments (as advised by selling agent)
<img src="/images/stories/east4.jpg">
124 O’Brien Street, Bondi Junction
Sale Date: November 2009
Sale Price: $2,115,000
Land: 401 m2
Equated Market Net Yield:  3.94%
Description: Improvements incorporate an older style block of 4 x 2 bedroom plus sunroom flats (approx. 80m2 each) and 2 x single lock up garages. Gross annual rental as advised at $85,536 per annum. Under rented. Adopted gross market rental at $104,286 per annum. This sale equates to $528,750 per flat.
<img src="/images/stories/east5.jpg">
5 Salisbury Road, Kensington
Sale Date: May 2010
Sale Price: $4,205,000
Land: 675 m2
Equated Market Net Yield:  3.57%
Description: Improvements incorporate a circa 1960’s/70’s block of 9 x two bedroom units with 9 x lock up garages. Advised gross annual rental at $158,000 per annum. Under-rented. Adopted gross market rental at $187,714 per annum ($400 per week each). This sale equates to $467,222 per flat.
<img src="/images/stories/east6.jpg">
48 Wiley Street, Waverley
Sale Date: May 2010
Sale Price: $2,207,500
Land Area:  326 m2
Equated Market Net Yield: 3.78%
Description:   Improvements incorporate an older style block of 4 x 2 bedroom apartments with DA approval for strata subdivision. Sold with an advised gross annual income of $91,250.  Under-rented. Adopted gross market rental at $104,286 per annum. ($500 per week each). This sale equates to $551,875 per flat.
<img src="/images/stories/east7.jpg">
16 Figtree Avenue, Randwick
Sale Date: June 2009
Sale Price: $2,350,000
Land Area: 487 m2
Equated Market Net Yield:  3.97%
Description: Improvements incorporate a block of 4 x 3 bedroom flats (approx. 89m2 each) with 2 x single lock up garages and car-spaces. Gross annual rental as advised at $99,000 per annum. Under rented. Adopted gross market rental at $116,480 per annum ($560 per week). This sale equates to $587,500 per flat.
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Sydney eastern suburbs blocks attract strata investor interest

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As we look to what's ahead for 2012, Property Observer is republishing some of our most noteworthy stories of 2011.
 
Stand anywhere in the Melbourne <stockticker>CBD</stockticker> and it’s almost impossible for an upwards-glancing eye not to catch one of Fender Katsalidis Architects’ distinctive residential towers.
<img src="/images/stories/eurekafka.jpg">
There’s the gold-capped peak of Southbank’s Eureka Tower (pictured above), the rocket-like Republic Tower (pictured above) on the corner of Queen and La Trobe streets, the revolutionary Little Hero building and its Lego-style construction method in Russell Place, and just about all of New Quay in the Docklands, to name just a few.
<img src="/images/stories/republic.jpg">
Fender Katsalidis buildings are typically low-impact, high-density designs that aim to create a “vertical neighbourhood” for <stockticker>CBD</stockticker> dwellers.
Both Karl Fender and Nonda Katsalidis are public proponents of high-density living as opposed to the flat urban sprawl embraced by the baby boomers.
“You have to keep your mind open to new housing typologies that use less land, and in so doing give greater community facility,’’ Fender says. ‘‘Because the idea of just building houses cheek-by-jowl and going on forever is just not sustainable”. Although he does add: “You don’t have to go building Eurekas all over town”.
Most of FKA‘s apartments are designed to be relatively affordable, which ties in with the firm’s outspoken intention to convince the average buyer to embrace high-density living. Affordability, Fender says, is the key to encouraging buyers to choose an apartment over traditional house and land.
Apartments in the upcoming <street><address>Fulton Lane</address></street> development for example are being offered at a starting price of $365,000. The development is the first in Australia for Malaysian group SP Setia, which reported in June that 70% of Fulton Lane’s apartments had sold off the plan in just three days.
At <street><address>108 Flinders Street</address></street>, where construction has just commenced on a 12-storey development tucked in behind AC/DC Lane, a one-bedroom can be snapped up for $390,000. Developer Riverlea announced in August that 85% of 108’s apartments were sold before construction began in September.
While FKA’s main focus is on affordable high-density living, the firm does have its trophies. At time of writing, the Eureka Tower’s penthouse, which occupies the entire 84th floor of the building is on the market. It’s expected to fetch upwards of $13 million.
<img src="/images/stories/melbourneterrace.jpg">
Karl Fender and Nonda Katsalidis’ <city><place>Melbourne</place></city> footprint began with the Katsalidis solo project Melbourne Terrace Apartments (pictured above), just near the Queen Victoria Markets on <street><address>Franklin Street</address></street>. Opened in 1994, it was one of the first residential developments to come out of Jeff Kennett’s Postcode 3000 planning policy in the early ’90s, aimed at encouraging Melburnians to live in the <stockticker>CBD</stockticker>. The plan had its critics, – ‘‘where will people buy milk, Myer?’’ was a running joke – but they were ultimately proven wrong as Melbourne was put on a pedestal as an example of how to reinvigorate a city centre so it becomes not only a place of work, but also of entertainment, and for many, a place to live.
Considered an early test case for the ambitious Postcode 3000 strategy, Katsalidis’ Melbourne Terrace Apartments were lauded as a new model for medium- and high-rise living in the <stockticker>CBD</stockticker>. Its success would convince architects and planners that <stockticker>CBD</stockticker> living was not only possible, it had the potential to move <city><place>Melbourne</place></city> towards gaining the ‘‘most liveable city’’ badge it proudly wears now.
It also established Nonda Katsalidis as an architect to watch in <country-region><place>Australia</place></country-region>. In 1996, he would merge with Bob Nation and Karl Fender to create Nation Fender Katsalidis, which would go on to build some of Melbourne’s most recognisable landmarks.
On Monday we will look at the next step for Fender Katsilidis and its projects outside Victoria. 
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Fender Katsalidis' ever-changing place in Melbourne's skyline

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Whenever I have watched reality shows what resonates most with me is an obvious lack of due diligence. How can you have an advertising campaign that any other vendor in Australia would dream of only to see failure and disappointment on auction day?
The other problem is that in the vast majority of cases that I’ve seen the contestants have little to no experience with renovation yet by the end of the series they give the impression that they are master builders.
On top of that the general public gets the impression that they have cut corners given the shows focus on a tight renovation budget. This creates a no-win situation, which has been reflected in the sales evidence.
The contestants keep running down to the local hardware store (which is usually a sponsor) to buy appliances, where they would be paying full retail as against sourcing the products far more cheaply over the internet. With better planning in advance these appliances could be purchased much cheaper – although that does not fit in with the strict timing schedules of the shows.
The problems facing these shows are sourcing the right properties in the right locations. This is nearly impossible, especially given that they have to find multiple properties the fit the criteria. When they find a compromise more often than not they have paid too much acquiring the properties and the cost of renovations combine to deliver over-capitalised properties. It is then very difficult to make the money back at auction.
I don’t see a great future with these reality realty shows given they are not financially viable. It’s an expensive gamble if you are not an owner-builder who is developing the property to live in.
It is well-documented around the country that punting on real estate using that formula is a recipe for disaster – and they keep delivering this conclusive evidence, don’t they?
Robert Simeon is a director of <a href="https://www.rwm.com.au/" target="_blank" title="RWM">Richardson  Wrench Mosman and Neutral Bay </a>and has been selling residential real estate in Sydney since 1985. He has also been writing real-estate blog <a href="https://www.rwm.com.au/news/" target="_blank" title="Virtual Realty News">Virtual Realty News</a> since 2000. The RWM real estate model has sold in excess of $1 billion in database sales globally.
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 e-book Lights, Camera, Auction!</a> 
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