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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The availability of office space in the Perth CBD continues to tighten dramatically, with demand from the state’s resources sector accounting for more than half of the city’s leasing profile, according to Savills. 
Savills research shows there are 66 full floors available for lease (now and in the future) in the Perth CBD as at September 2011, representing 6.7% of the city’s prime office stock. 
Of this, only 18 floors are available for occupation in the next six months, primarily comprising the sub-lease space available in BankWest Tower, 108 St Georges Terrace and Raine Square which is due for completion later this year. 
The number of full floors available has fallen from 93 floors in June 2011 and has consistently tightened from the peak level of 128 floors in September 2009. 
While the Property Council of Australia figures put the Perth CBD vacancy rate at 7.8% as at July 2011, Savills latest analysis indicates the market has tightened significantly to 2.8% for the September quarter. 
Paul Craig, Savills WA Managing Director, said WA is now entering an extended period of mining prosperity, evidenced by US energy giant Chevron recently giving the green light to its final investment decision on the $29 billion Wheatstone LNG project.
“The mining, utilities and industry sector now accounts for 55% of the Perth CBD office leasing profile. With over $170 billion worth of resources projects planned or pipelined for WA, many mining companies are looking for space to expand as their businesses grow,” Craig says. 
“This emerging period of mining prosperity in WA is expected to have the longevity unlike what we have seen previously. It has the potential to continue for another two decades and readjust the entire WA economy at a higher level.” 
Craig says the outlook for WA is extremely bright despite the economic uncertainties in the US and Europe. 
“We are now seeing a significant increase in investment interest in the WA commercial property sector,” he says. “Given the longevity of the state’s new mining projects and associated infrastructure, and the lack of new Perth CBD office supply, investors are recognising it is an ideal opportunity to enter the WA market.”
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lschlesinger-FZcF9M3vE6

Resources sector dominates Perth office market

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54/25 Pinkerton Circuit, Kambah, ACT
<img src="/images/stories/pinkerton.jpg">
This unit in the Canberra suburb of Kambah includes two bedrooms, one bathroom and an all-important car space. Listing agent Dan Cooper from<a href="https://www.ljhooker.com.au/19XTFK9" target="_blank"> LJ Hooker Tuggeranong</a> says it was previously tenanted and it could be expected to fetch between $330 and $350 per week in rent. Cooper is marketing the property with price hopes of $299,000 plus. If it sells for $299,000 and is rented at $350 per week that would secure an investor a gross rental yield of 6.1%, higher than the indicative gross rental yield for Kambah units of 4.8%, according to RP Data. The gross rental yield does not consider the costs of maintaining the property, including council rates and other fees such as water bills and managing agent fees. <a target="_blank" href="https://calc.washingtonbrown.com.au/wbdcalculator/calculator.aspx?RID=HPCAZOPTTT">Washington Brown</a> estimates the first-year tax depreciation deduction to be $2,500 and over five years $7,000. The property was passed in at auction on Saturday, October 15 with no bids.
For more information about yields and prices in Kambah, see the <a target="_blank" href="/news">RP Data suburb page</a>. 
 
<hr class="system-pagebreak">
6/22 Buckingham Street, Lara, VIC
<img src="/images/stories/buckingham.jpg"> 
This two-bedroom property is currently tenanted at $255 per week and is within walking distance of transport and shops. <a target="_blank" href="https://www.raywhite.com/vic/lara/671963/">Ray White</a> agent Michael Stevenson is marketing it with price hopes of $235,000 plus. If it sells at $235,000 it would secure an investor a gross rental yield of 5.6%, which is at the indicative gross rental yield for Lara, according RP Data. The gross rental yield does not consider the costs of maintaining the property, including council rates and other fees such as water bills and managing agent fees. <a href="https://calc.washingtonbrown.com.au/wbdcalculator/calculator.aspx?RID=HPCAZOPTTT" target="_blank">Washington Brown</a> estimates the first-year tax depreciation deduction to be $8,000 and over five years $22,000. The property has been withdrawn from action but is still for sale. 
For more information about prices and yields in Lara, see the <a href="/news">RP Data suburb page</a>.
 
<hr class="system-pagebreak">
 
2 Heininger Street, Dapto, NSW
<img style="border-style: initial; border-color: initial;" src="/images/stories/heininger.jpg">
This dual-occupancy house is currently tenanted at a combined $520 per week from the three-bedroom front half and two-bedroom back half. Listing agent Jeremy Tillman from <a target="_blank" href="https://www.prdnationwide.com.au/site/page.cfm?t=propertydetails&amp;s=franchisegeneric&amp;c=38&amp;RADIOMARKET=Buy&amp;SHOWAUCTIONLISTED=1&amp;INCLUDESURROUNDING=1&amp;SORTBY=&amp;id=43643&amp;type=Residential&amp;pagenum=1">PRDnationwide Dapto </a>is marketing the property with price hopes of $330,000 plus. If it sells for $330,000 that would reflect a gross rental yield of 8.2%, far higher than the indicative gross rental yield for Dapto houses of 5.4%, according to RP Data. The gross rental yield does not consider the costs of maintaining the property, including council rates and other fees such as water bills and managing agent fees.  <a target="_blank" href="https://calc.washingtonbrown.com.au/wbdcalculator/calculator.aspx?RID=HPCAZOPTTT">Washington Brown</a> estimates the first-year tax depreciation deduction to be $3,500 and over five years to be $8,500. The property went to auction on Saturday, October 15 at 10am but the result is yet unknown.
For more about yields and prices in Dapto, see the<a href="/news"> RP Data suburb page</a>.
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Weekend yield watch : Yields of up to 6.1% in Kambah

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Owners of older CBD office buildings will need to focus on improving their sustainability as well enhancing both their external and internal attributes to attract both tenants and future investors, according to new research by Colliers. 
A white paper called Getting Your Building Ready for the Next Decade and Beyond co-authored by Colliers and engineering firm Arup says “whole of building sustainability and workspace performance” is now a key to meeting tenant requirements and increasing property values. 
It comes as more than three-quarter of respondents to Colliers’ 2011 Global Investor Sentiment Survey (77%) said owning obsolete property is a greater concern than 10 years previously.
In Melbourne, about 80% of office buildings are more than 20 years old. According to Colliers, it’s a “relatively recent phenomenon” in Australia that large and growing number of office buildings in Australia are reaching the 20- to 40-year age bracket. 
Recently Charter Hall sold a 14 storey, 8,000-square-metre office building on Queen Street in the Melbourne CBD with a zero NABERS (National Australian Built Environment Reporting System) sustainability rating to a Singaporean developer for $25.5 million, nearly $7 million below the 2007 purchase price of $32 million.
Owners of older office building with similarly poor sustainability ratings will need to make improvements or face making a loss. 
Along with perennial factors such as location, floor plate size, core configuration, service provisions and amenities, sustainability has grown in importance since 2004, following the introduction of the green star rating system by the Green Building Council of Australia, the white paper says. 
“A bad [sustainability] score has the potential to eliminate a building from consideration,” say report authors Nerida Conisbee, national director of research at Colliers, and Adam Leggett, senior sustainability integrator at Arup. 
“More than ever building ownership requires a clear strategy to achieve its returns. There needs to be both an internal and external focus with a clear vision for the requirements of the target tenant groups and addressing external influences,” they say. 
Sustainability is especially important for offices given that state and federal government departments make up about a quarter of all office tenants and it is the government that is leading the push for high levels of sustainability in buildings. 
“High NABERS ratings and green star ratings are being sought on most new buildings and the carbon tax will further drive the requirement for this in existing buildings,” say Conisbee and Legett. 
“The federal government, through the COAG National Energy Strategy, are intending to set rising energy standards for all buildings. Commercial buildings disclosure is now in place for 2,000 square metre plus offices and will spread to other building sizes and types.” 
Aspects of buildings that owners should consider addressing include: 
<ul>
<li>
Façade performance - “often overlooked in pre-purchase consideration and upgrade decision making. Older buildings and even many newer buildings can have significant air leakage, known as infiltration, through the façade which can drastically increase energy consumption and reduce occupant comfort. </li>
</ul>
<ul>
<li>
Location – be mindful of the changes that are happening around the building. As an example the development of Docklands in Melbourne has had a transformative influence on the Western Core of the CBD with Barangaroo in Sydney expected to have a similar effect on neighbouring commercial zones. </li>
</ul>
<ul>
<li>
The semi-public realm around the building - enhanced by providing indoor and outdoor spaces, allowing space for rotating art displays and providing green features. This activation of the private and semi-public space can generate off-peak activity and create an engaging and valued building location. </li>
</ul>
<ul>
<li>
Technology upgrades - Using real-time displays, for example, increases knowledge about public transport arrival times and can encourage the exploration of public transport as a commuting mode. </li>
</ul>
The report recommends that building owners should undertake a strategic review “focusing on opportunities for increasing value and tenant attraction that might otherwise not be identified”. 
“The property agent role is crucial, as an understanding of the tenant profiles, market demand and experience of managing tenant moves will underpin any upgrade strategy,” the white paper says.
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Older office buildings must get with the times: Colliers

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Property investors can use their self-managed super fund (SMSF) to buy a holiday home and use it themselves, provided they structure the investment correctly, according to Andrew Bloore, CEO of software group SuperIQ.
Speaking at the recent Institute of Chartered Accountant’s National SMSF Conference, Bloore says he has seen examples of where someone has wanted to buy a chalet in the snow, but have said: “No, I can’t use it because I am leasing it to myself”.
Under limited recourse borrowing arrangements (LBRA), DIY super investors can hold residential or commercial property in their funds, but cannot lease the property to themselves or to a related party such as a family member or fellow fund member.
The exception is if it the property is classified as “business real property” – which is property used wholly and exclusively in the running of a business, such as a house that is used as a doctor’s office.
“So in the case of the ski chalet, what they have done is set up a business entity, which enters into a lease arrangement [with the fund], and it goes into the business of daily rentals of that property,” Bloore explains.
“It hires people and rents out the premises so it is now very clearly a business premises.
“The rental agreement is with the business entity, not with the super fund,” he says, “so it meets all the conditions of the business real property.”
Bloore says investors can use the SMSF rules to their advantage if they structure things correctly and think outside the square.
“Structuring will make all the difference as to how you buy and hold an asset in your super fund,” he says.
This is article is for illustrative purposes only and should not be construed as financial advice.
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Holiday properties possible through SMSF: Expert

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AMP Bank has introduced upfront property valuations for mortgage brokers and financial planners submitting loan applications on behalf of their customers in an attempt to accelerate the drawn-out home loan process.

Valuations are typically conducted after a loan application being submitted to AMP, but accredited parties will now be able to order a property valuation online before submitting a home loan application.

AMP head of sales and marketing Steve Craig says the new process willprovide the bank and customer with greater certainty.

"The benefits to distributors and borrowers are significant - quicker speed to formal approval, less reworking of applications, and more certainty around the outcome of the application."

The valuations will still be undertaken by AMP's property valuation providers.

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jchancellor-FAypfDUnLy

AMP introduces upfront property valuation

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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.
 
Buy someone else’s dream. That was the obvious maxim after the six well-renovated houses sold at mostly mediocre prices in televised finale of The Renovators, the Channel Ten renovation reality series.
Based on the costs of purchase and renovation just two of the six offerings – Blacktown and Glebe – did well. Another two – St Peters and Castle Hill – fell well short.
The Blacktown fibro possibly won because the backyard pool was thrown in.
The overall results weren’t pretty, with three selling at a loss after taking into consideration purchase price and stamp duty plus the declared renovation budget of an additional 20%.
It’s not to suggest the Century 21 selling agents didn’t market the offerings well, given it was quite unusual for the flipping of such overcapitalised properties to hit the soft market in such quick time. Recent Residex figures showed that Blacktown was among the worst-performing Sydney suburbs, with 312 of 3,050 properties sold at a loss over the past three years.
Blacktown’s auction had competitive bidding though it appeared to be limited to a few bidders in the big crowd after 1,000 had been through the open for inspections. The least enthusiastic offering, Marrickville, attracted just the one offer, which was accepted.
The six houses were bought by the series producers for a $3.6 million total between December 2010 and March this year. They recouped at auction $4.14 million, a 15% gain. They were honest, but perhaps not typical, when they added the $120,000 stamp duty cost. They also had a declared renovation budget totalling at least $740,000, all with seven-year home owners’ warranty insurance.
The cheapest of all six offerings was the winner – the fibro cottage at 85 Harold Street, Blacktown, which also had the largest extension, along with expansive outdoor living areas and pool. Its renovation budget was $62,000 in a building contract with builders, H&amp;N Khamis Pty Ltd, but that didn’t include the pool or the countless unpaid hours of work done by the contestant builders, Michael Lynch and team member, Jarrad O'Connell. "I worked it out that we spent $47,000 on materials,” Lynch says. “All the labour was done by Jarrad and myself.”
"I reckon I slept 18 to 20 hours in eight days. I had no choice, I had to stay awake and keep chipping away,” Lynch says.
The Blacktown property was bought in January this year for $299,500, with stamp duty of about $9,000 taking the costs up to about $309,000. It had previously traded at $270,000 in 2006 and had been listed with price hopes of $329,950 four months before its sale to the television series company. It sold through Penny Stylianou at Century 21 John Ross Combined Seven Hills for $440,000.
The next cheapest was Parramatta, where bidding began at $450,000 when the weatherboard, at 51 Franklin Street, Parramatta, sold at an auction with 100-plus attendees for $575,000, but only after the top bidder increased the offer by $5,000.
It had been last traded at $460,500, with stamp duty of $16,000 taking it to about $478,000.  It is now a modern family home with three bedrooms, two bathrooms with an entertaining space and backyard area. Its renovation budget was $95,000, making the breakeven point before its auction campaign conveyancing costs $573,8550. The extra bid took it 0.2% – or $1,145 – above its breakeven price. There were four obvious bidders. 
The 1915 Marrickville shop conversion offering fetched $700,000 in a one-bid auction. After costing $572,000 in March, or $595,000 after stamp duty of $21,000, the shop, at 146 Addison Road, Marrickville was transformed into a three-bedroom, one-bathroom abode. Its renovation budget was $119,000, so required a sale price higher than $713,676 to make a profit. It had previously sold at $68,000 in 1985.
The inner-city terrace, at 12 Hegarty Street, Glebe, cost the most at $720,000. Set on the smallest block of all six offerings – just 89 square metres – it is now a renovated 1890s three-bedroom, two-bathroom property featuring open-plan living. It was bought just a week after coming onto the market through Belle agent Mark Tooth and James Cahill in late January this year. It was sold through Thomas Skelly at Century 21 Cordeau Marshall for $925,000, seemingly to the opening bidder. The renovation budget was $150,000, so its breakeven point was $899,268 after the $28,000 stamp duty. It was described as now being the best house on the street. “She’s definitely got a bargain,” the renovator Luke Pollack noted post-auction.
After costing $642,500, plus $25,900 stamp duty, the half-done house at 5 Frederick Street, St Peters has an Edwardian facade with modern home behind it. Its renovation budget was $134,000, thereby requiring an $802,000 sale price to break even. It fell well short at $770,000, with Century 21 agents far outnumbering the two or three participants. Charles Tarbey, the boss at Century 21, was there to ensure that the bidding exceeded the $750,000 vendor bid.
The renovated 1960s suburban at 15 Anthony Road, Castle Hill, cost $607,500. The four-bedroom house sits on the largest land holding in the series of 765 square metres. It had been previously marketed with the “Renovate or Detonate!” suggestion for possible duplex building. The single-storey house renovation over the past three months had a budget of $126,000, thereby requiring $757,000 to break even, after including stamp duty costs of about $23,000. It was sold for $730,000 through Martin Baldacchino at Century 21 Castle Hill. It’s been the most actively traded of the show’s six offerings and amply highlights the ups, down and plateaus of Sydney’s property market over the decades. It had previously sold at $460,000 in 2006, when the then vendors tried without luck to secure $549,000 having bought in boomtime 2003 at $520,000. In 1994 it fetched $213,500 and four years earlier in 1990 it was sold at $205,000.
Century 21 Australia general manager Paul Mylott says strong results were achieved during fairly turbulent market conditions.
“The renovations were nothing short of superb and homeowners would be wise to take note of how a solid renovation can change the way a property is viewed and valued,” he says.
The internet advertising campaign run by Century 21 resulted in 90,000 online views with over 2,000 people inspecting the properties with dozens of interested parties registering to bid.
Most commentators suggest the results provide a valuable property lessons just like The Block 2011 in Melbourne.
Just one of the four Block cottages sold under the hammer, and all in quick time afterwards, <a target="_blank" href="https://www.propertyobserver.com.au/landlords/block-richmond-properties-hit-the-rental-market-with-yields-of-up-to-6.3/2011092851717">and now they are possibly rented at terrific gross yields.</a>
The ratings of the finale topped 1.26 million across the five cities, its best result since its 1.25 August debut sandwiched between the two-part Masterchef finale.
Some 56% of the $725,000 average nightly audience over the past three months were women. 
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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Buy someone else's sleepless overcapitalised dream: The Renovators' maxim

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Seven of the 13 Sydney residences in the luxury Abbotsford Marina waterfront complex have been sold.
The Walton Crescent sale prices have started from $1,825,000 for a 150-square-metre two-bedroom terrace-style residence with study.
The largest sale to date has been $3.4 million for a 280-square-metre apartment.
It’s a mix of eight apartments directly on the water, plus the five terrace-style units at street level.
Abbotsford sits on the peninsula between Abbotsford Bay and Hen and Chicken Bay on the Parramatta River.
The developers have lodged an application for seven marina berths, which will be for sale separately at $250,000 each.
Listing agent Peter Kerras at CBRE says he loves the aspect.
“As soon as you walk up the stairs, the view just opens up.
“I also love the high ceilings, which give a sense of scale beyond its size.”
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Sydney's Abbotsford Marina development half sold

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Apartment sales of $18 million have been achieved in the opening week of Fortitude Valley’s Brooklyn on Brookes development.
Buyers have secured 40 of the 191 apartments following the October 4 sales launch by Metro Property Development and Pearls Australasia.
David Devine, executive chairman of Metro Property Developments, says Brooklyn on Brookes’ success comes at a time where buyers taking advantage of the Queensland Government’s $10,000 Building Boost.
Apartments in Brooklyn on Brookes are priced from $305,000 to $750,000.
Brooklyn on Brookes is on the corner of Brookes and Ann streets, adjoining the Emporium complex featuring 35 retailers.
The 14-storey Brookes Street apartment tower is the third Brisbane joint venture of Metro with Pearls Australasia, following on the Chelsea and Madison Heights apartment projects. Pearls and Metro are also combining to deliver one land subdivision north of Melbourne.
According to Metro Property an extra 22,000 people are expected to move to Fortitude Valley by 2030.
Metro Property Development, created in early 2010, is owned by Devine Limited founder David Devine and business partners Ken Woodley and Luke Hartman.
Pearls Australasia, backed by India’s largest private landholder, is currently pursuing the refurbishment of the Sheraton Mirage Resort and Spa on the Gold Coast and the expansion of its world-first home building system technology, MiiHome.
Pearls Australasia chief executive Paul Brinsmead says the sales success demonstrated Metro’s understanding of the Brisbane marketplace.
“David Devine and Ken Woodley have been responsible for nine apartment projects in Brisbane’s inner city and historically have developed approximately 60% of all residential apartment projects in the Brisbane CBD,” Brinsmead says.
“The urban renewal precinct of New Farm, Newstead, Fortitude Valley and Bowen Hills has long been touted as a property hotspot since the early 1990s,” he adds.
For more on buying property off the plan, download our e-book.
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Buyers snap up 20% of Fortitude Valley's Brooklyn offerings

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As we look back on 2011, Property Observer is republishing some of our most noteworthy stories of the year.
Renovating for capital growth in today’s market is extremely tough, to say the least. The vast majority of homes that come onto the market and sell are homes that are being bought to live in. There is an emotional connection between the home and the buyer. In many instances people pay more for unrennovated homes than they do for renovated homes. Many feel they can “do a better job” or “renovate the home to a different taste” or “renovate exactly how they would like the home to present”.
There are other buyers who are time-poor and don’t have the ability to renovate. These buyers will pay a premium for well-finished homes and generally family homes that are to be held for many years.
Poor-quality renovations are punished in this sector with a lack of interest at auctions.
It’s my view that the majority of profit that is made out of a home being renovated and sold is in the buy. Those who buy well will do well. So is it the renovation that makes the money or is it the purchase that makes the money? In my view it’s the purchase. If you pay too much on the way in, it doesn’t matter how good the renovation is, it will be difficult to make money.
Where we do see opportunities in the Sydney market is in buying good apartment buildings. This can be in areas close to Sydney CBD or the likes of Parramatta and surrounds. Personally I think the inner west of Sydney is showing excellent apartment block opportunities, and bought at the right price an investment such as this that has the ability to be improved aesthetically and increase rental growth. We are seeing more investors stepping into the market for this type of asset.
TV shows such as The Block and The Renovators make for great TV. Most Australians can relate to shows such as these because everyone has the spark of renovating in them and real estate plays such an integral role within our lives. What we need to remember though is that renovating is difficult and people expect quality. When a TV show has contestants renovating homes that cut corners or that are not done by professionals and it’s shown on national TV, there are a series of doubts put in any potential buyers’ heads. These renovations are along running to a time restriction. Again this makes for great TV, but does it make for a great result? I don’t believe it does in every case.
Remember that this is not the sole importance for the show. The TV show relies on advertising and ratings. The sale comes in down the list of importance. It’s obviously necessary to “complete the sale”, and the theatre and drama of an auction can make for good TV.
If the Sydney clearance rate is 55% then it’s an excellent result for The Renovators program to sell six out of six, or a 100% clearance. Channel Ten did not want to own six investment properties all throughout Sydney. We had a committed seller. What we saw on The Block 2011 were some good buys. Many felt that the reserve prices were too high. I disagree. The properties that were bought on the night proved to be bought well appose to those that were bought in the days post-auction.
Damien Cooley is the founder of <a href="https://www.cooleyauctions.com.au/" title="Cooley Auctions" target="_blank">Cooley Auctions</a>, whose firm auctioned the properties on The Renovators.
For expert commentary and analysis on lessons to be learnt from property reality TV, <a href="https://register.propertyobserver.com.au/lights-camera-auction/" target="_blank">download our e-book Lights, Camera, Auction!</a>
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Renovating not always a road to riches: Renovators auctioneer

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As we look back on 2011, Property Observer is republishing some of our most noteworthy stories of the year.
It was a good result to get six properties sold on last night’s finale of The Renovators in current uncertain market, even though we were expecting a much better result as all properties had been transformed significantly and renovated to a very high standard. 
The fibro cottage at 85 Harold Street, Blacktown, made $68,000 profit on a $310,000 property or 18.28% on total costs. 
The half-done house at 5 Frederick Street, St Peters was the biggest bad shock, as it sold for $770,000. This was $130,000 below the agent’s expectations of $900,000. 
The shop, at 146 Addison Road, Marrickville, which was transformed into a three-bedroom, one-bathroom abode, was the biggest good shock selling at $700,000 –  $30,000 above the agent’s expectations of $670,000. 
The weatherboard, at 51 Franklin Street, Parramatta sold dead on the agent’s expectations of $575,000. 
The ‘60s suburban at 15 Anthony Road, Castle Hill, which is no longer stuck in a timewarp.Castle Hill, sold for $730,000. This was $40,000 below the agent’s expectations of $770,000. 
The inner-city terrace, at 12 Hegarty Street, Glebe sold for $925,000 – $12,500 above the agent’s expectation of $912,500. 
Market confidence has slipped in the last six months due to the state of the national and global economy, which has led to a lot of potential buyers sitting on the fence. It's often easier for them to make no decision than to buy or sell property at the moment. 
Commentators are mixed about whether interest rates are likely to rise or fall at the moment, which is adding to people's indecision. Buyers are unsure whether to take on large amounts of debt if their mortgage is likely to increase rapidly in the future, and others are waiting for a substantial fall in rates before making a move. 
Some people will not go to a televised auction under any circumstances, even though there was a large level of interest in the properties. Bidding at an auction is like public speaking, and most people fear it more than death. To be put on the spot in front of such a large audience and on national TV would be a nightmare to a lot of people, and so they will not turn up or bid under any circumstances. 
Selling property by auction is not just about that night, it's about pre- and post-auction negotiations. A lot of property at the moment is being sold pre-auction, as agents know it's an uncertain market, and they will happily take a good offer before. For most of the properties that sold at a loss, in reality the auctioneer would have used a vendor bid or passed the property in and then negotiated afterwards and would have got a higher result. As it's a TV show it was better to get a result on the night. Many properties sell within days of the auction night and at a much higher price. For example on The Block the second property sold that same night and the third and fourth sold within three or four days at a profit. 
The contestants had to spend a 20% budget to keep everyone on the same playing field. In reality some properties might have been better off spending less as there is a point where you start to overcapitalise. Due to time constraints, they also had to hire in and pay for trades where they would normally have done the work themselves effectively for free, so they wouldn't have spent so much cash. 
They had to pay to furnish their properties rather than renting styled furniture. A lot of buyers may not value what they had spent on interiors as they have their own furniture. 
It’s a TV competition and not 100% reality of how someone might make commercial renovation decisions in practice. 
Buying, renovating and flipping is different to buying and holding The Renovators had to do things properly, e.g. replacing sewage systems, and they had to get guarantees in place. If they were selling they wouldn’t necessarily improve things that didn’t need immediate attention or didn’t need to be fixed immediately.
Chris Gray is CEO of <a target="_blank" href="https://www.yourempire.com.au/">E</a><a target="_blank" title="Empire Property Portfolios" href="https://www.yourempire.com.au/">mpire Property Portfolios</a> and was a judge on Channel Ten show The Renovators.
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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