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.

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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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This will be a short column today looking at what is happening to the “liquidity” of Australia’s housing market right now. We measure liquidity many ways, including by reference to actual turnover, the flow of homes coming on to the market each week, the stock of homes that are relisted for sale (think of this as an inventory metric), and auction clearance rates. 
Today I will focus on new listings, re-listings and auction clearance rates. All of this data is kindly supplied by RPData.com. The first chart below shows the rolling monthly new listings of homes across Australia reported on a weekly basis. There are two things we can learn from this information. First, there was an unseasonably strong spike in new listings at the start of 2011, which, as we know, coincided with the east coast floods and the general weakening in market activity. Click to enlarge
 <a href="/images/stories/oct131.gif" rel="shadowbox" title="Click to enlarge"><img src="/images/stories/oct131thumb.gif"></a>
The second thing we can see is that the vendor dynamics changed abruptly in June 2011, wherein new listings fell away strikingly. While this was partly seasonal, it was also probably fuelled by the negative sentiment that was building around house prices at the time combined with the RBA’s jawboning on interest rates. We know, for example, that between February and June 2011 Australians typically expected the RBA to hike interest rates another two to three times, which would have pushed official headline mortgage rates over 8.5% (i.e., highly restrictive territory). 
The final point of note in this chart is that despite the data running through the first week of October, we have yet to identify the traditional spring surge in listings. While there will inevitably be some uplift evinced, it would seem that many vendors don’t need to sell their homes, which makes sense given Australia’s relatively low mortgage default rate (about 0.8% of all borrowers). This has been doubtless reinforced by the lacklustre auction clearance rates. 
The more intriguing question is whether the big shift in consumer sentiment that I have been forecasting for a while now — i.e., from expecting several rate hikes to no hikes or a cut — will feed back into more positive housing market dynamics (I expect it will). 
We have seen from the latest ABS and AFG data some healthy housing finance flows over June, July and August. As previously reported, we have also witnessed a gradual increase in the share of first-time buyers returning to the market. There is no question that affordability has improved: house prices have not risen in over a year while disposable incomes have been expanding at an 8% per annum pace. Finally, we know that the use of fixed-rate loans is increasing sharply given that you can now fix for three years at low rates below 6%. 
The second chart I want to highlight is the stock of unsold homes, or re-listings, over time. I have juxtaposed this against the national auction clearance rate. The lessons are clear: the decline in the clearance rate from over 70% in 2009 to around 50% today has correlated with an inexorable rise in the volume of homes that are available for sale (since more are getting passed in). So while new listings coming to market are low, the overall inventory of properties available for purchase is high. This accords with the soggy price action that we have seen throughout 2011, with combined capital city dwelling values down about 3% to 4% in the year to date. Click to enlarge
 <a href="/images/stories/oct132.gif" rel="shadowbox" title="Click to enlarge"><img src="/images/stories/oct132thumb.gif"></a>
What happens for the remainder of the year really hinges on interest rates. If the RBA cuts or stays on hold with an easing bias, we expect to see a noticeable uplift in housing virility. If in the now increasingly unlikely event — at least according to the financial markets and most economists — the RBA were to consider raising rates again, conditions would obviously remain very limp indeed.
Christopher Joye is a leading financial economist and works with <a target="_blank" title="Rismark International" href="https://www.rismark.com.au/">Rismark International</a>. Rismark and RP Data provide house price analytics products, and solutions that enable investors to go long and/or short the housing market. The above article is not investment advice.
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Spring market lacklustre, and improvement is in the hands of the RBA

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Asking rents for units are approaching those for houses in most capital cities, according to Australian Property Monitors.
The rental market growth for units outperformed houses during the year to September, APM senior economist Dr Andrew Wilson says.
During the September quarter median asking rents for houses fell nationally by 0.2% while asking unit rental prices picked up by 1.1% in the quarter.
In Melbourne the current median asking rent for units is $350, compared with houses at $360.
In Sydney it is $460 for units and houses at $495.
In Brisbane unit median rent it $360 and house median rent is $370.
In Perth units are $370 and houses are $380.
In Canberra units are $430 and houses are $465.
Wilson suggests unit rental prices increasing at a greater rate in most capital cities compared with houses indicates increased competition from discontented first-home buyers entering the rental market, particularly in late 2010 and early 2011.
“As a consequence, the median weekly asking rentals for units is now fast approaching that of houses in many capital cities, as the overall demand for units for both lifestyle and affordability reasons continues to be greater than the demand for more expensive and generally outer-suburban houses,” says Wilson.
“With the prospect of continued stable interest rates, an expected increase in buyer activity will take the pressure off the rental market by decreasing competition for available rental properties and motivating investors to re-enter the market,” he says.
Wilson says first-home buyers are currently unable to access the market due to affordability and stock availability constraints and as a consequence choose to rent until affordability improves.
 
<img src="/images/stories/apmoct132.gif">
<img src="/images/stories/apmoct134.gif">
Source: APM
Canberra and Sydney led the way in annual growth of house rentals, increasing by 3.3% and 3.1% respectively over the year.
Brisbane and Darwin recorded the largest increase in median weekly asking rentals for units over the year to September, both increasing by 5.9%.
They were followed by Perth, where unit rentals rose by 5.7% over the year, then Canberra up 4.9%, Sydney up 4.5% and Adelaide up by 1.9%.
Melbourne unit rentals were unchanged for the year to September.
Hobart was the only capital to buck the trend, recording a 6% drop in annual median weekly asking rentals for units.
<img src="/images/stories/apmoct131.gif">
<img src="/images/stories/apmoct133.gif">
Source: APM
Wilson suggests the subdued growth in rental prices evident in the September quarter should continue into the December quarter as affordability constraints and cost-of-living pressures put a cap on the capacity of tenants to meet rental increases and concerns over the economy continues to foster a relatively conservative attitude by landlords.
The softening in property prices evident through 2011 has meant that gross rental yields increased marginally despite subdued capital city rental growth over the September quarter.
The gross rental house yields range from Melbourne’s 3.87% to Hobart at 5.01%. Units gross rental yields range from Melbourne’s 4.43% to Canberra at 5.49%.
House rental yields should strengthen marginally as continued weak buyer demand places downward pressure on property prices at a greater rate than rental growth.
“Similarly unit yields should increase as rental growth outpaces prices growth for the remainder of 2011,” Wilson says.
Investors who are drawn to the market by optimising rental growth should check out our<a target="_blank" href="https://www.propertyobserver.com.au/landlords/choose-the-right-person-to-manage-your-rental-property/2011101251903"> guide to choosing the right property manager for your investment.</a>
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jchancellor-FAypfDUnLy

Unit rents approach house rents in most capitals

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The reluctance of home owners to sell – and home buyers to purchase – has cut possibly 18% off estate agent incomes in the past financial year.
“It is no wonder that many property professionals are experiencing financial challenges,” RP Data research analyst Cameron Kusher says.
 <a title="Click to enlarge" rel="shadowbox" href="/images/stories/rpdataoct131large.gif"><img src="/images/stories/rpdataoct131.gif"></a>
Click to enlarge
His latest research shows the dollar value of residential property transactions across Australia over the 2010-11 financial year fell 18%.
Queensland, with a 27% drop, had the largest fall in the total value of sales, followed by Western Australia, with a 22% drop.
South Australia recorded the only increase – a very mild 1.3% gain.
The total dwelling sales over the 2010-11 financial year equated to $193 billion – the lowest since 2008-09 during the global financial crisis, when total values fell by about 14%.
Houses accounted for $142 billion and units for about $51 billion.
<img src="/images/stories/rpdataoct132.gif">
Kusher says that the annual change in annual dwelling sales value and the annual volume showed the two measures almost in perfect unison.
“For the 10-year analysis, the correlation between the two is 95% and shouldn’t come as a surprise, because sales volumes are currently sitting at a similar level to what was recorded during the depths of the financial crisis.”
<img src="/images/stories/rpdataoct133.gif">
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Agents' income down as dwelling transactions slip to GFC levels

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Outrigger Hotels and Resorts has purchased the management rights of the hotel property currently operating as the Holiday Inn Surfers Paradise.
The sale includes the real estate assets comprising reception, extensive conferencing areas, and restaurant and bar.
The 414-room property will be re-branded to Outrigger Surfers Paradise.
Outrigger Hotels &amp; Resorts is a 64-year-old privately-held US company whose association with the Gold Coast dates back to its decision to expand the brand from the US into Australia in 1998.
“The company’s decision to invest in Surfers Paradise’s tourism sector is also a major show of confidence it has for the Gold Coast and builds upon the presence of its Australian head office in Surfers Paradise,” Outrigger regional general manager Grant James says.
“The Gold Coast has fared much better than other regions in Queensland, which can be evidenced by our other Gold Coast resort at Coolangatta eclipsing revenue and occupancy forecasts for the 2011-12 period,” James says.
His belief had been shaped by data from Tourism Australia’s National Visitor Survey stating that domestic tourism was on the rise, with June recording a jump in domestic travellers by 8%.
The addition of Outrigger Surfers Paradise boosts the hotelier’s portfolio to four in Australia. The company owns about 1,000 rooms in Australia, and 11,200 rooms internationally.
Located on a prominent site on Gold Coast Highway and fronting View Avenue, the hotel is 100 metres from the beach and one block from Cavill Avenue.  Built in 1986, the 23-level hotel opened as Holiday Inn. In 1988 the hotel was purchased by All Nippon Airways and operated as ANA Hotel. The Raptis Group purchased the ANA Hotel in 2005.
In early 2009, Raptis Group’s subsidiary companies (Colryan Pty Ltd and Seasilver Hotels Pty Ltd), which owned the hotel management rights and its associated real estate assets, were placed into receivership with Ernst &amp; Young the receivers and managers.
The management rights sale was negotiated by Gold Coast based MR Sales.
Upon settlement, Outrigger Hotels and Resorts will own the management rights for approximately 10 years with a 10-year option.
In accordance with Outrigger’s corporate policy, the sale price remains confidential.
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US-based hotelier renews investment in Surfers Paradise

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For those looking for an opportunity to enter the property investment market, now might be a good time. Australia’s national rental vacancy rate sits at a low 2.2% and has been stable over the past 12 months.
“It’s a very tight market,” says Real Estate Institute of Australia chief executive Amanda Lynch. “It’s difficult to get rental accommodation, and as a result landlords can choose the best tenants.”
Additionally, <a target="_blank" href="https://www.propertyobserver.com.au/residential/unit-rents-approach-house-rents-in-most-capitals/2011101251906">rental yields are rising across most capital cities, particularly for units.</a>
That’s good news for current and potential property investors. Nevertheless, investing in property is not always a smooth ride. A good rental property agent can be the deciding factor in success or failure in the property investing game. For investors considering managing their own property, Lynch offers a word of caution.
“Property management can be a much bigger job than people realise,” she says. “The main reason you would use a rental agent is for peace of mind. It can mean phone calls at all times of the day and night, having to get quotes yourself for any maintenance required or dealing with unpaid rent.”
But how do you choose the best possible rental agent, and what is the difference between a good and bad agent?
Over the past 20 years, Andrew Jones and his family have entrusted eight investment properties into the hands of property managers. Not all of them have been successful relationships.
In one recent incident, the tenants in the family’s Lake Macquarie, NSW property fell behind on their rent for several months and were evicted. It was only following the eviction that the family discovered the tenants had kept several birds and rabbits in the house, causing damages totalling $15,000.
“If the agent had carried out regular inspections on the property – as they had told us they had – the pet issue would have been noted and addressed well before we received the bill,” Jones says. “Having learnt from this, I would strongly recommend maintaining a good relationship with your agent and don’t be afraid or embarrassed to seek feedback on your property on a regular basis.”
High on Jones’s checklist of what makes a good rental agent are attributes such as professionalism, experience and proactivity. Local knowledge is also important, he says. “‘Out of towners’ or ‘rookies’ can’t always give you the accurate feedback or service you require to maximise the return on your investment.”
Jones recommends property investors just starting out do their own research on their chosen area and ask prospective rental agents for appraisals. “Choose the agent you think best suits your location, the size and type of property you own and don’t always go with the agent that tells you the highest rental amount they can achieve. If your property is overpriced you may end up spending four weeks longer looking for a tenant, only to find you have to drop the price anyway.”
Rob Farmer, CEO of rental specialist agency RUN Property, reels off five key attributes of a good rental agent: people person, good negotiator, calm under pressure, eye for detail, and an understanding of property investment.
“Real estate agencies are often owned by real estate salespeople, who are good salespeople but they don’t have the operational management and attention to detail required in property management,” Farmer says.
He recommends investors ask friends and family to recommend agents and interviewing all prospective property managers. “Also interview the manager of the property management division,” he adds. “It is just as important to have a good property management company as well as a good manager. If your property manager leaves or you have a problem you need to know you have a quality company standing behind them.”
Mary Anne Cronin, an agent with Raine &amp; Horne Bondi Junction, says choosing the best possible tenant is an important measure of a good rental agent. “We interview all our prospective tenants,” she says.
“If you’re dealing with properties with a rental average of $1,000 to $1,500 per week, as we are, it’s essential to ensure the tenants are the right match for the property.
“It’s about matching the right people to the property and that they are going to appreciate it. So if the property has a garden, you have to make sure the tenant will appreciate and look after it.”
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cknowlton-QnEa6ntUYP

Choose the right person to manage your rental property

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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.
 
We recently looked at the new draft <a href="https://www.propertyobserver.com.au/news/tips-for-borrowing-through-your-diy-super-for-property-investment/2011101151890" target="_blank">ATO ruling surrounding borrowing via your self-managed super fund and property</a>. The rules are more lenient, but investors still need to be careful.
Understand the difference between repairs and improvements of geared property
 
Detail: Under last year’s amendments, superannuation law specifies that money borrowed by a SMSF under a limited recourse loan arrangement must only be used to buy and maintain an asset – not to improve it.
Draft ruling: An improvement of an asset, in contrast to a repair, will improve its efficiency and/or substantially increase its value. 
Crucially, a fund can use its own money to improve a property – provided those improvements are not so extensive so as create a new asset, according to the ruling. 
The draft ruling stresses that what the ATO regards as the difference between repairs and improvements for tax deductibility is not necessarily the same as its interpretation in relation to SMSF gearing. Meg Heffron, co-principal of specialist SMSF administrator Heffron and a former member of the Cooper superannuation review, says the draft ruling shows the ATO will take a “fairly liberal view” about the difference between a repair and an improvement. 
The draft ruling states that a repair may include restoration to an asset’s former appearance or condition – without changing its character. 
“These issues will always be a matter of degree,” comments Heffron, “but the ATO clearly envisages quite a wide range of activities which might incidentally add to the value of the property falling into the repairs category. 
“This is obviously highly beneficial to funds that have borrowed to acquire real property.” 
Case studies from draft ruling: A SMSF borrows to buy a house with broken windows. Not surprisingly, the ATO would treat the replacement of the windows as a repair, not an improvement. Therefore, the new windows could be financed under a borrowing arrangement.
SMSF trustees renovate a rundown house immediately following its purchase. Under the draft ruling, the ATO would treat renovations that improve the efficiency of the asset and substantially increase its value as an improvement. This means that the renovations could not be financed under the loan arrangement. 
A SMSF renovates a property and adds a bathroom. Property investors, of course, commonly undertake such projects. The ATO would regard the addition of the bathroom as an improvement.
A kitchen is restored following a fire that damages the stove, benches and walls. Under the draft ruling, the ATO would regard the kitchen’s restoration as a repair. But if the kitchen is extended at the same time, the extension would be treated as an improvement. 
A SMSF adds a swimming pool or garage to a geared property. The ATO would view the changes as improvements, which could not be financed under a borrowing arrangement. 
Understand what improvements create a new asset 
 
Detail: A basic challenge for property investors is whether proposed improvements to a geared property are so extensive as to effectively create a new asset. 
Under superannuation law, a fund cannot even use its own cash, let alone borrowed money, to finance improvements to a geared asset that lead to the creation of a new asset. The fund would have to wait until the gearing expired before using its own money to pay for such improvements. 
Drafting ruling: “The ATO has previously taken the view that improving a property will necessarily trigger the replacement of one asset, the unimproved one, with a new asset,” says Heffron. 
“The ruling takes a far more liberal position,” she says, “and indicates that in the ATO’s view, not all improvements will necessarily result in a replacement asset.” 
The draft ruling gives the ATO’s opinion that an improvement that fundamentally changes the character of an asset amounts to the creation of a new asset. 
Case studies from draft ruling: A SMSF owns a geared house and land. The house is then demolished and replaced with three strata units. New assets would be created. 
A SMSF owns a geared house and land. The land is rezoned and the house converted into commercial premises. Again, a new asset would be created. 
A fire destroys a fund-owned, four-bedroom house. The fund uses the insurance payout to build a replacement four-bedroom house. The fundamental character of the property has not changed. The proceeds of an insurance payout could finance the replacement.
For more on self-managed super and property, download our e-book.
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mlaurence-vhAHaLZT8y

What you need to know about borrowing via a SMSF and property repairs

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I often get asked what I do for a living.  My “elevator pitch” or quick answer is “ I help people develop property by managing all the details from finding the right site through to finding the right tenants on completion.  The result is creation of a large amount of equity through the development process.”
Their next question is always why don’t you just develop property for yourself?
The answer to this is a bit longer, but to keep it short and sweet, I love sharing knowledge and find it very satisfying project managing developments.  I do have a stake in all our developments anyway, as I share in the equity we create.  This means I take personal ownership of the developments. Over the past eight years the number of developments Property Bloom has managed stands at 53. This is on average of 6.6 developments per year.  Also, the bottom line is that there is no way I could finance 53 developments on my own.  By doing them for others, I get to do what I love and make a living from it. No brainer, really.
So what are the benefits of using a professional project manager for your development?
Save money: A good project manager will have established discount structures in place with builders, architects, surveyors and other contractors.  On a three-villa project, the builder’s discount alone saves our clients over $12,000. On a six-villa project we’re saving them well over $30,000. These savings help offset the project management fee.
Save time:  To set up your own development team, find the right site, run feasibilities, design the project, manage the planning phase and then the build phase for even a small dual occupancy can be very time-consuming. If you are trying to hold down a full-time job at the same time, you will find it challenging. Using our refined system, we fast-track all stages of the project for clients.
Minimise risk: If it’s your first development then just one error may mean the difference between a profitable development and a non-profitable one. Using an experienced project manager takes some of the risks away. Developing will always have an element of risk, every development is different and we’ve learnt something new from each one we’ve finished.
Learn how to develop: Simply by going through the process working with a project manager you will learn so much. If you engage a project manager who is happy to teach you along the way, then you may be ready to manage your next project on your own.
Access to sites not on open market: Our sources know what we’re looking for and will contact us about sites they may have available or have coming up.  About 50% of our sites have not hit the open market.
Professionally managed and recorded: The paperwork alone can be mountainous and you want to ensure all documents are kept to maximise your tax return and so you can use them as a reference when doing your own project.
Local knowledge and experience: Property Bloom specialises in the Lower Hunter Region of NSW. So we know the markets very well and can quickly analyze a potential site location. Our contact base of agents, contractors, builders and other professionals is broad and we have been able to weed out any suppliers we have not been happy with in the past. We continue to fine-tune and improve our systems and processes.
Keep your day job: Cashflow is important when developing, so all of our clients have day jobs to fund their developments. It enables them to keep moving forward with building their property portfolios.  We often have clients running two projects simultaneously to fast-track their wealth creation.
If you’re thinking of developing but are a little worried, work with a project manager who has local knowledge and good experience in the area you want to develop in. You’ll essentially be buying yourself the time and experience it would have taken you to get up to the same level.
Jo Chivers is director of <a href="https://www.propertybloom.com.au/" target="_blank" title="Property Bloom">Property Bloom</a>, which manages property development.
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Developments run more smoothly with a project manager

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The number of commitments for owner-occupied housing finance lifted by 1.2% in August to 50,965, the Australian Bureau of Statistics says.

While the figures are the second straight rise for the owner-occupied sector, they are lower than expectations for a 2% rise.
Westpac has described the August report as "lacklustre", saying the level of housing finance to owner-occupiers is down 0.9% from the end of 2010, and 4.6% for new lending.
"More broadly, the housing sector is facing a number of headwinds: interest rates, stretched housing affordability and household's desire to pay down debt. These forces are offsetting the positives of rising household incomes, relatively low unemployment and a shortage of housing stock," the bank says.
And the total value of dwelling finance commitment excluding alterations and additions rose by 1% to $20.848 billion.
The seasonally adjusted series for the value of owner-occupied commitments rose 0.6%, while the value of investment housing commitments seasonally adjusted rose 1.8% in August 2011.
This article originally appeared on <a href="https://www.smartcompany.com.au/economy/20111012-housing-finance-commitments-lift-shares-down-on-euro-woes-middday-roundup" target="_blank">SmartCompany</a>.
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Rise in housing finance commitments

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Consumer sentiment has picked up but remains weak, Westpac says, tipping fears about unemployment levels and continued problems in Europe to cause more headaches for the local economy.

The Westpac Melbourne Institute Index of Consumer Sentiment has recorded its second monthly jump, lifting by 0.4% this month to 97.2 points, from 96.9 in September. The result means there are more pessimists than optimists, and takes the annual fall to 16.9%.
The survey of 1,200 people conducted last week follows a better-than-expected National Australia Bank business survey yesterday, giving rise to hopes the economy is lifting itself out of a funk.
But Westpac senior economist Matthew Hassan says we're far from out of the woods.
"One of the things that has happened in the past few months is consumers are more concerned about their jobs than they were," Hassan says.
"There's an underlying sense that the labour market is not in as great shape as it was."
Hassan says unemployment has already risen faster than anticipated and will likely continue to rise to 5.7% by the middle of next year.
"And what's important is not just the move but the way it's being perceived by consumers," Hassan says, pointing to a survey showing a sharp spike in unemployment expectations and the changes in behaviour that usually come hand-in-hand with job insecurity.
Hassan is also not tipping an end to the European debt crisis, meaning a continuation of the volatility that has prompted dramatic movements in our equity markets and local currency.
"Given the jump we saw in September, to hang onto that gain is better than expected," Hassan says, saying Slovakia's decision to vote against a plan to help stem the European debt crisis this morning suggests that the situation is "getting worse, not better".
Westpac expects a rate cut in either November or December to have a strong ripple effect across the mortgage belt given the official cash rate is high at 4.75%.
The survey showed that the index measuring family finances was up 2.3% for the year, but the family finance index lifted 3%.
In bad news for some retailers, the percentage of people saying it was a good time to buy a major household item fell 5.6%.
This article originally appeared on <a target="_blank" href="https://www.smartcompany.com.au/economy/20111012-consumer-sentiment-edges-up-but-employment-worries-remain">SmartCompany</a>.
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Consumer sentiment edges up but employment worries remain

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Without giving the results away, the auction prices on the Channel Ten renovation series The Renovators were pretty ordinary, because the houses had been seriously overcapitalised within a short period of time.
Flipping property in quick time is a complicated task that tests even the experts.
So spending 20% of the purchase costs on renovation was always going to be a hard ask on resale.
The rule of thumb is to keep the reno spend to less than 10% of the value of a home.
The prices paid by the producers of the Channel Ten series were not excessive, but they went awry in their allowances.
They took the purchase price and then the stamp duty costs into their calculations before adding the 20% renovation outlay.
There were also extra prizes thrown into the mix, making the auction results that little bit more disappointing.
The respected renovation blogger Alex Brooks from RenovationPlanning.com.au says it's easy to spend more on the renovation than the increase it will deliver to the property.
Indeed she suggests that if the renovation will put your house near the top end of local market prices, you’d be better off selling and upgrading rather than paying more in building costs than you will gain in prices.
However, if the house was undercapitalised, it could be perfect for renovation. Brooks suggests undercapitalised houses are worth about 10% less than the area's median house price.
Obviously if the house only needs or gets cosmetic improvements without major structural changes, you are less likely to overcapitalise.
But of course the whole point of the television series was to stretch it out for the full three-month airing timetable duration.
Cutting corners and keeping it cheap wouldn’t have been the drawcard.
Selling Houses Australia, on The LifeStyle Channel presented by Andrew Winter, typically has three days to transform a home - on a budget of only 1% of the property's market price.
While the ratings for The Renovators was well short of expectations, that hasn’t stopped agents experiencing a dramatic increase in buy, renovate and sell project enquiries.
But buyers’ agent Patrick Bright suggests many are blissfully unaware of the true costs involved in renovating property.
“Whilst they are great entertainment, the biggest downfall from programs like The Renovators and The Block is that they don’t reveal to viewers the real cost of labour to make these improvements as well as the total costs associated with buying and selling real estate like stamp duty, legals, marketing and selling agents costs,” he says.
“The concept of buying, renovating and selling property as soon as the paint is dry can be profitable if executed correctly, however for most people is almost a guaranteed way to make a loss,” says Bright.
“Most would-be renovators who try to copy the formula seen on TV hoping to make a quick profit will end up bitterly disappointed and lose a lot of money.”
Following three months of hard work, August, Peter, Luke, Melissa, Natalia and Michael's houses will have their auctions broadcast tonight.

The winner will be the contestant with the property that has increased the most in value. They will take home the combined profit of each of the six houses after auction, which somehow just doesn’t seem fair.
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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