Article summary

<ul data-end="785" data-start="311">
	<li data-end="459" data-section-id="5hbcyr" data-start="311">Pikos Group has released the five-penthouse collection at Skye Kangaroo Point, headlined by a two-storey sky home spanning more than 1,000 sqm.</li>
	<li data-end="561" data-section-id="1p7lq8n" data-start="460">Early buyer interest suggests the residences could set a new Queensland apartment price record.</li>
	<li data-end="667" data-section-id="1y70z0l" data-start="562">The collection includes four move-in ready penthouses and the highly customised Skye One residence.</li>
	<li data-end="785" data-section-id="yvm0y1" data-start="668">The release caps one of Bri​sbane's most ambitious luxury apartment developments overlooking the Brisbane River.</li>
</ul>

<hr data-end="790" data-start="787" />
Pikos Group has released the five-penthouse collection at its <a href="https://www.apartments.com.au/buildings/skye-residences-by-pikos-kangaroo-point-8-river-terrace-kangaroo-point-qld-4169">Skye by Pikos</a> development in Kangaroo Point, with early buyer interest indicating the flagship residences could eclipse every apartment sale previously recorded in Queensland.

The collection crowns the luxury riverfront development with five residences, including four completed penthouses and Skye One, a two-level sky home spanning more than 1,000 sqm that will be tailored to its eventual owner.

[smartcode_project:default project_id=90059 project_image_fid=374075]

Wanting to offer a fully customisable home, Pikos is offering Skye One as a blank canvas, allowing the buyer to work alongside the developer's design team to customise the home's layout, finishes and internal spaces.

The residence will feature a 247 sqm private rooftop terrace with its own swimming pool, sauna, steam room, outdoor kitchen and multiple entertaining areas overlooking the Brisbane River and CBD skyline.

The remaining four penthouses have been completed and are ready for immediate occupation, each offering four bedrooms, expansive open-plan living areas, soaring ceilings and private lift access.

[smartcode_project:default project_id=90059 project_image_fid=374059]

One of the defining features throughout the project is its use of Roman Classic Travertine, with more than 20,000 sqm of the natural stone imported from Italy after being personally selected by Pikos Group Founder and Executive Director Pedro Pikos, interior designer Julie Williamson and third-generation stone specialist Mario Caucci.

Pikos said the penthouse collection represented the culmination of the company's long-term vision for Skye.

"True legacy isn't measured by what we build today, but by what endures tomorrow," Pikos said.

"Our ambition is to create places that become more valuable with time, enrich the lives of generations, and stand as timeless landmarks long after we've stepped away."

[smartcode_project:default project_id=90059 project_image_fid=374060]

Williamson said the interiors were inspired by the natural character of Kangaroo Point and the Brisbane River rather than international design trends.

"Materiality tells the story of a place," Williamson said.

"We looked to the movement of the Brisbane River, the texture of the cliff face and the warmth of the surrounding landscape to create interiors that feel understated, enduring and unmistakably Brisbane."

Positioned above the Kangaroo Point cliffs, Skye places residents within walking distance of Howard Smith Wharves, South Bank and James Street while offering uninterrupted river and city views.

[smartcode_project_cta:default project_id=90059]

Joel Robinson

Brisbane's next apartment price record? Pikos unveils Skye's exclusive penthouse collection

Article summary

<ul data-end="888" data-start="289">
	<li data-end="442" data-section-id="8tsh6o" data-start="289">DVB Projects is preparing to launch its second Gold Coast apartment development, with demolition now underway at 137 Old Burleigh Road, Broadbeach.</li>
	<li data-end="573" data-section-id="1nyxl3e" data-start="443">The 34-level tower will comprise just 49 ultra-luxury residences, including half-floor, full-floor and penthouse apartments.</li>
	<li data-end="717" data-section-id="oiyimj" data-start="574">The launch follows strong demand at DVB's nearby Sea Glass project, which is more than 50 per cent sold and currently under construction.</li>
	<li data-end="888" data-section-id="epk9o9" data-start="718">The development adds to the transformation of Old Burleigh Road, with premium beachfront apartment projects continuing to reshape the tightly held Broadbeach strip.</li>
</ul>

<a href="https://www.apartments.com.au/developers/dvb-projects">DVB Projects</a> is preparing to launch its second Gold Coast apartment development, with demolition now underway on the Broadbeach site as the Sydney developer moves closer to bringing the ultra-luxury project to market.

The 34-level tower at <a href="https://www.apartments.com.au/new-apartments/137-old-burleigh-road-broadbeach-qld-4218">137 Old Burleigh Road</a> will comprise just 49 residences, ranging from half-floor apartments through to full-floor homes and a penthouse. The launch follows the strong sales performance of DVB's nearby Sea Glass development. More than half of the apartments at Sea Glass, on the other side of Broadbeach, have been snapped up, well ahead of its late 2027 completion

<img alt="DVB Projects to commence demolition on $320m Broadbeach luxury tower" data-entity-type="file" data-entity-uuid="2944b4be-c84e-4b54-8dc1-c712e76704c0" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/E02_Exterior_Street%20Level%20Entrance.jpg?VersionId=YoNig7pRdrE3HCue7sUj78LzJteeQf3H" />

The start of demolition at 137 Old Burleigh Road signals DVB Projects’ underlying confidence in the Gold Coast’s luxury beachside apartment sector.

“We see the Gold Coast as one of the most compelling lifestyle markets in Australia, particularly at the premium end where demand continues to deepen,” said Dean Brown, Managing Director of DVB.&nbsp;

“This project has been carefully designed to respond to that demand - delivering large-format residences with a level of quality, privacy and amenity that is still relatively rare in the apartment market on the beachside."

Brown says the site itself is "exceptional."

"Old Burleigh Road is one of the most tightly held beachfront strips, and opportunities to deliver a project of this scale and calibre in this location are extremely limited.”

<img alt="DVB Projects to commence demolition on $320m Broadbeach luxury tower" data-entity-type="file" data-entity-uuid="398f377a-c037-455e-9250-0c5e0d84c35b" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/I12_FF%20Balcony.jpg?VersionId=NwOiRWGMubR1c8wthuEfggklcja7al9." />

The project will comprise 40 half-floor residences of approximately 260 sqm, alongside eight full-floor residences spanning around 524 sqm.

A single penthouse will crown the building, featuring a private pool, barbecue area, indoor gym and dedicated entertaining spaces.

Residents will have access to a resort-style suite of amenities, including a 20-metre pool with daybeds, a gymnasium, hot and cold plunge pools, a sauna, and private residents’ lounge and dining facilities.

<img alt="DVB Projects to commence demolition on $320m Broadbeach luxury tower" data-entity-type="file" data-entity-uuid="d1642bb0-9a66-4427-a022-dfc0988c6287" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/A02_Pool%20to%20View.jpg?VersionId=c0IXPyn_Gp_Kn3XCwzMrqIVkAdCEwVXP" />

Sales agent Todd Matheson, of <a href="https://www.apartments.com.au/project-marketer/pezet-matheson">Pezet Matheson</a>, which is marketing both 137 Old Burleigh Road and Sea Glass, said 137 Old Burleigh Road would address a clear gap in the market for genuine luxury products.

“There are very few opportunities on the Gold Coast where buyers can secure a residence of this size and quality in a new building,” Matheson said.

“What we’re seeing is a growing cohort of downsizers and interstate buyers who still want space - they’re not willing to compromise on living area, entertaining or finishes.

“This project has been designed with that buyer in mind. It offers the scale of a home, combined with the convenience and security of apartment living, in one of the coast’s most desirable positions.”

<img alt="DVB Projects to commence demolition on $320m Broadbeach luxury tower" data-entity-type="file" data-entity-uuid="59aae0ca-5639-4320-8aca-d0bf60f48e43" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/E01_Exterior%20Hero.jpg?VersionId=DS8Zfy2WtgUEtdfe0TEUuf1W1GfcZq8S" />

Located on a 1,156 sqm site one block from the beachfront, the development will replace an ageing walk-up building and is expected to contribute to the ongoing transformation of the Old Burleigh Road strip into one of the Gold Coast’s most prestigious residential corridors.

With the development moving into the delivery phase, 137 Old Burleigh Road is slated to hit the market later this year.

[smartcode_project_cta:default project_id=145141]

DVB Projects to launch second Broadbeach apartment tower as demolition commences

A proposal to redevelop one of North Sydney's ageing commercial buildings has taken another step forward, with plans for a 38-storey mixed-use tower adding momentum to the long-awaited transformation of the Alfred Street precinct.

Now on public exhibition through the NSW Government's Housing Delivery Authority-led State Significant Development pathway, the proposal for 271-273 Alfred Street would replace an underutilised commercial building with 95 apartments, ground-floor retail, commercial space and affordable housing. The proposal was submitted by&nbsp;Tara Shore Pty Ltd, acting for the John Taylor Family Trust.

While the project will deliver much-needed housing on the southern edge of the North Sydney CBD, it also represents another piece of a broader precinct that has spent years in planning limbo.

<img alt="First look: New public domain vision underpins 95-apartment North Sydney tower on Alfred Street" data-entity-type="file" data-entity-uuid="7e1ce1b4-38df-48ab-992f-386814d86308" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Alfred%20St%20da%20podium.png?VersionId=sC_h6w.A9VEoB98qsqowPlIoz__sBZBt" />

Despite its proximity to both North Sydney Station and the Victoria Cross Metro, redevelopment of Alfred Street has progressed slowly over the past decade as broader planning controls, zoning and building heights remained unresolved. The introduction of the Housing Delivery Authority pathway has provided a new avenue for projects to progress, allowing rezoning and development assessment to occur concurrently and unlocking sites that have long been earmarked for renewal.

Designed by Office of Cortese &amp; Gilder, the proposal seeks to do more than replace an ageing office building. The architects have positioned the project as the first stage of a wider public domain vision that would improve pedestrian connectivity and create a more cohesive mixed-use precinct as neighbouring sites are redeveloped over time.

The proposal includes a widened Alfred Street setback, new street trees, landscaping and outdoor seating, along with a landscaped through-site pedestrian link connecting Alfred Street with Little Alfred Street. The connection is intended to become the first section of a future east-west pedestrian network extending across the precinct.

<img alt="First look: New public domain vision underpins 95-apartment North Sydney tower on Alfred Street" data-entity-type="file" data-entity-uuid="8ea39ac3-46ad-4562-b4a0-b862e91c2dda" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Alfred%20St%20da%20site.png?VersionId=K7umCd21KpetEFuVfsPlnJKhUOsmTTdV" />

The mixed-use tower would comprise retail space at ground level, commercial uses on level two and apartments from level three upwards.

In total, the development would deliver 95 apartments, including nine one-bedroom, 28 two-bedroom, 56 three-bedroom and two four-bedroom residences. Twenty-one apartments, representing 15 per cent of the residential gross floor area, would be secured as affordable housing and managed by a registered community housing provider for at least 15 years.

Nine basement levels would provide 133 resident car spaces, seven motorcycle spaces and 111 bicycle spaces.

According to the Architecture and Urban Design Report, the public domain strategy is designed to transform what is currently an inward-facing commercial edge into a more active and connected pedestrian environment, creating a stronger relationship between the commercial core and surrounding residential neighbourhoods.

Office of Cortese &amp; Gilder has also prepared a broader public domain framework spanning neighbouring properties between 263 and 283 Alfred Street, arguing that a coordinated approach to redevelopment will deliver better public spaces, improved tower separation and a more connected streetscape as the precinct evolves.

The proposal comes at a time where North Sydney is slated for future residential growth. Commercial developer FiveX has residential plans for the neighbouring site at 275 Alfred Street. They've proposed a 39-storey mixed-use tower with 184 apartments, while Freecity was recently approved for nearly 300 apartments across a 51-storey building on Walker Street.

Read more:&nbsp;<a href="https://www.apartments.com.au/news/nsw/first-look-freecity-gets-green-light-for-mixed-use-apartment-and-hotel-tower-in-north-sydney">First look: Freecity gets green light for mixed-use apartment and hotel tower in North Sydney</a>

Read more:&nbsp;<a href="https://www.apartments.com.au/news/nsw/first-look-fivex-plans-39-storey-residential-tower-in-booming-north-sydney">First look: Fivex plans 39-storey residential tower in booming North Sydney</a>

&nbsp;

Alfred Street the latest North Sydney pocket to be transformed by residential development

Buyers considering a residence at boutique Gordon townhouse development <a href="https://www.apartments.com.au/new-townhouses/lume-gordon-43-47-dumaresq-street-gordon-nsw-2072">Lume</a>&nbsp;now have another reason to bring forward their decision.

For a limited time, purchasers of a residence at Lume will receive a BMW iX3 50 electric SUV, valued at more than $120,000, as part of their purchase. The offer is designed to add value for buyers while complementing the lifestyle envisioned for the architecturally designed Upper North Shore development.

Scott Timmins, Development Manager at <a href="https://www.apartments.com.au/developers/winim">WINIM</a>, said the partnership was created to provide buyers with a compelling reason to act.

"In today's market, buyers need a compelling reason to act now, and the BMW partnership was designed to create that catalyst. We wanted to add genuine value for our future purchasers. Choosing the all-electric BMW iX3 50 also reflects the values behind LUME, forward-thinking design, innovation and a more sustainable way of living. It's a premium incentive that complements the lifestyle our buyers aspire to and rewards those who commit early."

[smartcode_project:default project_id=7354 project_image_fid=374893]

Delivered by WINIM in partnership with Burtonwood Investment Partners, Lume comprises 14 architecturally designed two, three and four-bedroom townhomes created for families seeking the space of a freestanding house with the ease of modern, low-maintenance living.

The three-storey residences, designed by award-winning architecture practice <a href="https://www.apartments.com.au/architects/rothelowman">Rothelowman</a>, have been tailored for families and multi-generational living, featuring private internal lifts, flexible lower-level spaces, generous open-plan living and entertaining areas, media rooms, and landscaped outdoor spaces with custom outdoor kitchens.&nbsp;

Inside, engineered oak flooring, bespoke dining joinery with integrated wine fridges and backlit bars, sculptural porcelain bathrooms, Parisi freestanding baths and Astra Walker tapware create interiors that balance functionality with refined finishes.

Each townhome has been designed to combine generous internal spaces with sustainability initiatives such as EV charging infrastructure, while <a href="https://www.apartments.com.au/landscape-architect/arcadia-landscape-architecture">Arcadia</a>'s landscaped communal areas, centred around a restored creek line and native planting, encourage residents to connect with nature and spend more time outdoors.

[smartcode_project:default project_id=7354 project_image_fid=269527]

Rothelowman's Gary Tsui said the architecture was conceived to respond carefully to its Upper North Shore setting.

"Our vision was to create elegant, uplifting homes that draw on and positively contribute to the local character through meticulously considered design and an interaction with the surroundings."

The communal landscape has been designed as more than an open space between homes. Arcadia's Ben Newell and Kate Phillips said the adjoining reserve provided an opportunity to create a distinctive natural retreat for residents.

"Just as waterways carve their way through Ku-ring-gai's landscape, a raised boardwalk weaves through the reserve, connecting the homes to this tranquil oasis."

[smartcode_project:default project_id=7354 project_image_fid=374892]

Located just 300 metres from <a href="https://www.apartments.com.au/developments/gordon-nsw-2072">Gordon</a> Village and Gordon railway station, Lume offers convenient access to Sydney's CBD while placing residents close to some of the North Shore's leading schools, including Ravenswood, Pymble Ladies' College and Knox Grammar. Lane Cove National Park, Gordon Golf Club and a range of cafés and restaurants further reinforce the family-focused lifestyle on offer, with the BMW iX3 50 complementing everything from local trips around Gordon to weekend drives and city commutes.

Construction is underway with completion expected in mid-2027.

[smartcode_project_cta:default project_id=7354]

Boutique Gordon townhomes now come with a BMW iX3 50

Two apartments have sold for more than $10 million at EADE Byron Bay, setting some of the highest apartment prices ever achieved in the coastal town and underlining the growing appetite for luxury beachfront apartments in Australia's most popular coastal locations.

The $210 million project by Vitale Property Group has now secured more than $70 million in sales, led by residences that changed hands for $12.75 million and $11.75 million.

The record-breaking transactions reinforce the shift occurring in Byron Bay's premium property market, where affluent downsizers and lifestyle buyers are increasingly opting for high-end apartments over large beachfront homes.

<a href="https://www.apartments.com.au/new-apartments/eade-byron-bay-29-shirley-street-byron-bay-nsw-2481">EADE Byron Bay</a> occupies a rare 6,000 sqm absolute beachfront site on the corner of Shirley and Milton Streets overlooking Main Beach and The Wreck surf break, just 350 metres from Byron Bay's town centre.

The 25-residence development is the first beachfront apartment project approved in Byron Bay in more than a decade and is currently under construction, with completion expected in May 2027.

[smartcode_project:default project_id=145590 project_image_fid=359521]

The project has attracted a mix of local Byron Shire residents downsizing from larger homes, alongside interstate buyers from Sydney, Melbourne and Brisbane seeking a permanent coastal lifestyle without compromising on space.

Designed by <a href="https://www.apartments.com.au/architects/hayball">Hayball</a> and with interiors by <a href="https://www.apartments.com.au/interior-designers/alexander-co">Alexander &amp; Co</a>, EADE comprises&nbsp;10 garden apartments ranging from 284 sqm to 622 sqm, nine with private pools, five full-floor apartments and 10 rooftop residences with private plunge pools, expansive outdoor entertaining areas and uninterrupted ocean views.

[smartcode_project:default project_id=145590 project_image_fid=359527]

<a href="https://www.apartments.com.au/developers/vitale-property-group">Vitale Property Group</a> Managing Partner Chris Vitale said the project's combination of scale, location and limited future supply was driving buyer demand.

"There isn't another beachfront holding in Byron Bay of this size and position that could be developed again," Vitale said.

"Buyers are responding to the scarcity and the irreplaceability of a site of this calibre and to floorplans they can't find elsewhere in the market.

"We are seeing buyers place significant value on quality, space, design, resort-style amenities and the rarity of the location. The sales achieved to date demonstrate that discerning purchasers recognise the long-term significance of what is being created at EADE Byron Bay.

"Many are coming from larger homes in the Byron region, or from Sydney, Melbourne and Brisbane, and are after the space, security and convenience, without the upkeep of a house."

&nbsp;

[smartcode_project:default project_id=145590 project_image_fid=359523]

The Byron Bay project follows Vitale Property Group's delivery of the Mondrian Hotel and Private Residences at Burleigh Heads, with EADE continuing the developer's focus on luxury coastal developments.

Residents will have access to a resort-style swimming pool, gymnasium, sauna, cold plunge pool, concierge services and dedicated workspaces, while the project is targeting an 8-Star Green Star rating.

EADE Byron Bay is being exclusively marketed by Projx Australia in conjunction with WHITEFOX Projects.

WHITEFOX National Projects Director Phillip Rand said demand had been driven predominantly by owner-occupiers.

"We are seeing buyers at EADE place significant value on quality, space, design, resort-style amenities and the rarity of this location," Rand says.

"The sales achieved to date demonstrate that purchasers at this level recognise the long-term significance of what is being created at EADE Byron Bay."

Residences at EADE Byron Bay are currently priced between $4.75 million and $15.95 million.

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[smartcode_project_cta:default project_id=145590]

Vitale breaks Byron Bay records with EADE sales flurry 

Sydney’s property market is known for high prices, competitive bidding, and mounting pressure on first home buyers. But change is on the horizon.

From late 2025, eligible first home buyers in New South Wales will have access to a new federal government initiative aimed at addressing affordability: the Help to Buy Scheme.&nbsp;

<h2>What is the Help to Buy Scheme?</h2>

The program introduces a shared equity model intended to reduce the upfront cost of entering the property market, particularly in high-demand urban areas such as Sydney.

The scheme operates under a shared ownership structure in which the federal government takes an equity stake of up to 40 per cent for new homes, or 30 per cent for existing dwellings. This arrangement allows eligible buyers to significantly reduce their loan size and avoid the added cost of Lenders Mortgage Insurance (LMI).

Under this model, purchasers can enter the property market with as little as a two per cent deposit, well below the traditional 10 to 20 per cent usually required. The government’s contribution is not a loan but a co-ownership stake in the property. As such, there is no interest or rent charged on its portion.

Because the government’s equity combined with the buyer’s deposit typically meets or exceeds the 20 per cent threshold, LMI does not apply. The remaining balance, generally between 60 and 70 per cent of the property’s value, is financed through a standard home loan with a participating lender.

The government's equity in the property remains in place until the buyer chooses to repay it voluntarily or until the property is sold. Buyers can buy back the government’s share over time, in increments of at least five per cent, depending on their financial situation.

There is no fixed repayment timeline, but the amount to be repaid will be based on the property's market value at the time of repayment, not the original purchase price.

<h2>How do you qualify for the&nbsp;Help to Buy Scheme?</h2>

To qualify for the Help to Buy Scheme, applicants must meet the following conditions:

<ul>
	<li>Be an Australian citizen at least 18 years of age.</li>
	<li>Be a first-home buyer who does not currently own property.</li>
	<li>Intend to live in the property as their primary residence.</li>
	<li>Earn less than $100,000 per year for individuals, or $160,000 for couples.</li>
	<li>Purchase a property within the regional price caps, currently $950,000 in Sydney, though this is expected to rise to approximately $1.3 million ahead of the program’s launch.</li>
</ul>

While the Help to Buy Scheme does not solve affordability challenges across the board, it does offer a more accessible pathway for a defined segment of the market, particularly younger buyers with moderate incomes who have been priced out of traditional lending routes.

The scheme is expected to commence in NSW in late 2025, as part of a national rollout.

Under the new model, purchasers can enter the property market with as little as a two per cent deposit, well below the traditional 10 to 20 per cent usually required

Help to Buy Scheme: What first home buyers in NSW need to know

The First Home Owners Grant (FHOG) is a government initiative designed to help eligible first-time home buyers by offering financial assistance towards the purchase or construction of a new home.

While the FHOG is a nationwide program, it is administered separately by each state and territory, meaning the eligibility criteria, grant amounts, and property requirements can vary depending on your location. This means that the amount available and the conditions attached to the grant will differ, so it is important to check the specific guidelines for your state or territory.

It’s important to note that the FHOG is just one of several incentives available to first home buyers. In most states and territories, the grant is not linked to stamp duty exemptions or concessions, with the exception of the Australian Capital Territory (ACT). The FHOG is typically a one-off payment, reducing the overall cost of purchasing or building a new home before any stamp duty concessions are applied.

Below, we provide a breakdown of the First Home Owner Grants available across Australia, outlining the specific details for each state and territory.

<h2>New South Wales First Home Owner Grant</h2>

First Home Owner Grant: Offers a $10,000 grant for new homes valued up to $600,000. For land purchases and owner-builders, the threshold extends to $750,000.

Stamp Duty Benefits: Provides full stamp duty exemption for homes valued up to $800,000, with concessions available for properties up to $1 million.

<h2>Victoria South Wales First Home Owner Grant</h2>

First Home Owner Grant: Provides a $10,000 grant for first-home buyers purchasing or building new homes valued up to $750,000.

Stamp Duty Benefits: Offers full stamp duty exemption for properties up to $600,000, with concessions available up to $750,000.

<h2>Queensland First Home Owner Grant</h2>

First Home Owner Grant: Offers $30,000 for contracts signed between 20 November 2023 and 30 June 2025. The FHOG applies to new homes valued up to $750,000.

Stamp Duty Concessions: Provides additional concessions for properties valued up to $800,000.

<h2>Western Australia First Home Owner Grant</h2>

&nbsp;

First Home Owner Grant: Offers a $10,000 grant for new homes valued up to $750,000 in the southern regions and up to $1 million in the northern regions.

Stamp Duty Concessions: Available for homes valued up to $600,000 for transactions entered into on or after 9 May 2024.

<h2>Australian Capital Territory First Home Owner Grant</h2>

First Home Owner Grant: Replaced by the Home Buyer Concession Scheme, offering full stamp duty concessions for eligible buyers.

<h2>South Australia First Home Owner Grant</h2>

First Home Owner Grant: Provides up to $15,000 for new homes, including houses, apartments, and townhouses. As of 6 June 2024, there is no property value cap for eligibility.

Stamp Duty Relief: Available for new homes and vacant land purchases.

<h2>Tasmania First Home Owner Grant</h2>

First Home Owner Grant: Offers a $10,000 grant for new homes and off the plan purchases.

Stamp Duty Exemption: Between 18 February 2024 and 30 June 2026, first home buyers of established homes valued up to $750,000 receive a full exemption on property transfer duty.

<h2>Northern Territory First Home Owner Grant</h2>

First Home Owner Grant: The Northern Territory provides a $10,000 grant for new homes only. Additional government grants and concessions are available for first home buyers.

Stamp Duty Exemption: The only stamp duty exemption available to property buyers is the House and Land Package Exemption (HLPE).

Eligibility criteria and application processes differ across states. Prospective buyers should refer to their respective state revenue offices for full details on grant availability, conditions, and additional concessions.

Every First Home Owner Grant for new property by state

In the ever-evolving landscape of sustainable architecture and environmentally conscious design, systems and ratings in place can help determine the energy efficiency of residential buildings in Australia.

Australia has multiple building rating systems that evaluate energy efficiency and sustainability in existing and new building designs.

Some systems assess individual building components, while others provide an overall rating for the entire structure.

A rating system ensures that homes are comfortable and energy-efficient, whether you are buying, renovating, or building.

NatHERS (Nationwide House Energy Rating Scheme) is a common way for new homes to meet energy efficiency requirements.

As new developments continue to shape the urban environment, understanding NatHERS ratings becomes essential for developers and homeowners. This article delves into the concept of NatHERS ratings, their significance, and how they contribute to creating energy-efficient homes.

<h2>What is NatHERS?</h2>

NatHERS is a national initiative implemented by the Australian government to promote energy efficiency in residential buildings. The scheme aims to provide a standardised method for assessing the thermal performance of homes, considering factors such as insulation, orientation, ventilation, and building materials.&nbsp;

NatHERS ratings are the most common way new homes meet the National Construction Code's (NCC's) minimum energy efficiency requirements.&nbsp;

NatHERS assessments provide thermal and whole-home ratings for new homes, townhouses, and apartments.

The rating helps evaluate the energy performance of buildings, guides homeowners and developers to make informed decisions about the energy efficiency of their properties, and encourages the construction of more sustainable, comfortable, and cost-effective homes.

<h2>How NatHERS Ratings Work</h2>

NatHERS ratings are determined through four accredited software tools (AccuRate, BERS Pro, FirstRate5, HERO) using a calculation engine CSIRO developed to predict building temperature based on various factors.

The tools can model complex effects of building mass, insulation, window size, and other elements.

The outcome is a star rating that reflects the building's overall thermal efficiency, indicating how well it can maintain a comfortable indoor temperature without excessive reliance on heating or cooling systems.

The star rating scale ranges from 0 to 10, with a 6-star rating being the minimum requirement for compliance with the National Construction Code (NCC).&nbsp;

Achieving a higher star rating demonstrates a commitment to energy efficiency and sustainability, as the building is better equipped to minimise its environmental impact and reduce long-term energy costs.

Anyone can use NatHERS tools, but accredited assessors can provide certified ratings and professional advice.

<h2>Benefits of Higher NatHERS Ratings</h2>

Energy Efficiency: Buildings with higher NatHERS ratings are more energy-efficient, requiring less heating and cooling energy. This reduces the structure's carbon footprint and lowers occupants' energy bills.

Cost Savings: Homes with higher NatHERS ratings are generally more energy-efficient, resulting in reduced energy consumption for heating and cooling. This translates to lower energy bills for homeowners, making sustainable living environmentally friendly and economically viable in the long run.

Environmental Impact: Lower energy consumption directly translates to a reduced environmental impact. Buildings with higher NatHERS ratings contribute to the overall goal of mitigating climate change by lowering greenhouse gas emissions associated with heating and cooling systems.

Improved Comfort: Buildings with high NatHERS ratings offer better thermal comfort to occupants. Proper insulation, well-designed ventilation, and optimal orientation maintain a consistent and comfortable indoor temperature, providing occupants with a more enjoyable and healthier space.

Market Value and Desirability: Higher NatHERS ratings can enhance the market value of a property. As energy efficiency becomes a more significant consideration for homebuyers, a well-rated building may attract a premium price and stand out in the real estate market.

Compliance with Building Codes: NatHERS ratings are a vital component of the National Construction Code (NCC), and compliance with these ratings is often a mandatory requirement for new developments. Local councils and planning authorities may set minimum energy efficiency standards that must be met to obtain development approval.

The Nationwide House Energy Rating Scheme (NatHERS) is a crucial initiative shaping the future of energy-efficient, resilient, and cost-effective homes. With its recent upgrades, NatHERS has evolved into a world-leading tool for the building sector, supporting the global commitment to achieving net-zero emissions by 2050.

Staff Writer

What is a NatHERS rating in new off the plan apartment developments?

Mixed-use developments have gained significant popularity across Australia in recent years due to their unique blend of residential, commercial, and recreational spaces.

Unlike traditional single-purpose developments, mixed-use projects offer a harmonious integration of various functions within a single locale.

Residential units seamlessly coexist with commercial establishments, retail outlets, dining venues, entertainment hubs, and recreational facilities, with the combination not only enhances convenience but also fosters a vibrant lifestyle and a sense of community.

<h3>Convenience and accessibility</h3>

Mixed-use developments are designed with convenience in mind. They often integrate residential units with commercial spaces, retail outlets, restaurants, and recreational facilities, creating a self-contained community.

[smartcode_project:default project_id=114215 project_image_fid=204874]

The proximity allows residents to enjoy the convenience of having essential amenities and services within walking distance. Whether it's grabbing a cup of coffee, going grocery shopping, or accessing healthcare services, everything is conveniently located, saving residents time and effort.

<h3>Vibrant lifestyle and community</h3>

One of the major advantages of mixed-use developments is the vibrant lifestyle they offer. With a diverse range of amenities and communal spaces, residents have ample opportunities to interact, socialise, and build a sense of community.

[smartcode_project:default project_id=107714 project_image_fid=214122]

The presence of parks, community centres, and shared spaces fosters a lively atmosphere, encouraging residents to engage in various activities and events. The vibrant lifestyle within these developments creates a unique sense of belonging and camaraderie among the residents.

<h3>Potential for higher rental yields and property value appreciation</h3>

Mixed-use developments tend to attract a broad range of tenants and buyers due to their versatile nature. This high demand can result in higher rental yields for investors and potentially lead to property value appreciation over time.

[smartcode_project:default project_id=139989 project_image_fid=212887]

The integration of commercial and retail spaces attracts businesses, which can provide a stable rental income stream. Additionally, the popularity of mixed-use developments often drives up property values, making them a potentially lucrative investment in the long term.

<h3>Enhanced security and maintenance</h3>

Mixed-use developments typically have comprehensive security measures in place. With controlled access points, CCTV surveillance, and professional security staff, residents can enjoy enhanced safety and peace of mind.

[smartcode_project:default project_id=108019 project_image_fid=212658]

Additionally, these developments often have dedicated maintenance teams responsible for the upkeep of common areas, landscaping, and infrastructure. This ensures that the overall appearance and functionality of the development are well-maintained, creating a pleasant living environment for residents.

<h3>Live-work-play balance</h3>

One of the key attractions of mixed-use developments is the ability to achieve a desirable live-work-play balance. The integration of residential and commercial spaces allows residents to live closer to their workplaces, reducing commuting time and improving work-life balance.

The proximity to various amenities and recreational facilities encourages an active and healthy lifestyle. Residents can easily access fitness centres, parks, restaurants, and entertainment options, all within the same development, leading to a more fulfilling and convenient way of life.

alisonwarters@gmail.com

The top five reasons to buy in a mixed-use development

When buying a property, everyone needs to be aware of the additional costs that come as part of the buying process.

Often the largest outlay, after the deposit which goes to the bank, is stamp duty.

<h2 style="line-height: 1.38;">What is Stamp Duty?</h2>

Stamp duty is an extra tax to pay the government when you buy land, a property, and other certain assets.

It happens when the legal ownership is transferred. It can also be known as property transfer duty or transfer duty.

<iframe allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture" allowfullscreen="" frameborder="0" height="415" src="https://www.youtube.com/embed/C32BWkB5--c" title="YouTube video player" width="660"></iframe>

<h2>Who pays Stamp Duty?</h2>

In some circumstances, you may get an exemption. For some states, you won’t have to pay for stamp duty if you are a first home buyer or a pensioner for houses under a particular price. There are also stamp duty concessions, where you may be entitled to a discount.

<h2>How much does Stamp Duty cost?</h2>

Each state has different rules which affect how much you need to pay. These rules can affect the rate you pay, and the timeframe you will need to pay in. Before you buy land or a property, make sure you check the up-to-date information for your state’s stamp duty.

You can use a free stamp duty calculator online to see approximately how much you’ll need to pay. Find out if you’re eligible for an exemption by enquiring on a project via Urban!

Overall, the stamp duty you need to pay will depend on:

<ul>
	<li aria-level="1">How much your land/property is worth</li>
	<li aria-level="1">Where your land/property is located</li>
	<li aria-level="1">What type of land/property it is</li>
</ul>

Want to find out more? <a href="https://www.youtube.com/@UrbanAustralia?utm_source=YouTube&amp;utm_medium=Video&amp;utm_campaign=Subscribe&amp;utm_id=Subscribe">Subscribe to our YouTube channel</a> for more property videos.

Ellen Walker

Off-the-plan property explained: What is stamp duty?

When buying an apartment, most people compare the big-ticket items first. Floorplans. Kitchens. Balcony size. Natural light. The view.

But there's one everyday consideration that often doesn't come up until after moving in: how parcels are delivered.

As online shopping has become part of everyday life, parcel deliveries have shifted from an occasional event to a regular occurrence. Australians spent a record $82.6 billion shopping online in 2025, with almost one in every four retail dollars now spent digitally.

For apartment residents, that can present a challenge.

If nobody is home to accept a delivery, parcels may be redirected to a nearby Post Office, left in a building lobby or common area, or require building management to step in. In higher-density buildings, where dozens or even hundreds of residents may receive deliveries each day, parcel management has become an increasingly important part of everyday living.

That can create a range of frustrations. A missed delivery often means making time to collect a parcel elsewhere, while packages left unattended in foyers or mail areas can create clutter and increase the risk of theft. What seems like a minor inconvenience can quickly become a recurring issue for residents who shop online regularly.

It's one of those details that rarely features in a display suite but can have a noticeable impact once residents move in.

As a result, buyers are beginning to look beyond traditional apartment features and consider how a building supports day-to-day convenience, including whether there are secure options for receiving deliveries.

Australia Post's Parcel Lockers provide one solution.

<iframe allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" allowfullscreen="" frameborder="0" height="315" referrerpolicy="strict-origin-when-cross-origin" src="https://www.youtube.com/embed/CkF2oKmlACg?si=C50sDaoUUn2nuLmq" title="YouTube video player" width="560"></iframe>

Rather than having a parcel delivered directly to an apartment, eligible deliveries can be sent to a nominated Parcel Locker. Once the parcel arrives, residents receive a notification through the AusPost app or SMS and can collect it using a QR code or one-time PIN at a time that suits them.

The Parcel Locker network now includes more than 1,500 locations nationwide, with installations at Post Offices, shopping centres, transport hubs and an increasing number of residential developments. By providing a secure collection point, Parcel Lockers help reduce missed deliveries and avoid parcels being left unattended in common areas.

For developers, parcel infrastructure is becoming another way to improve the resident experience. Rather than relying on concierge staff or leaving parcels in communal spaces, secure collection points help streamline deliveries while preserving the presentation and functionality of shared areas.

For buyers, it's a reminder that the best apartment features aren't always the most obvious.

A generous floorplan or quality finishes might help narrow the shortlist, but the conveniences that simplify everyday life, whether that's EV charging, secure bike storage or reliable parcel delivery, often become the features residents appreciate most once they're living there.

The apartment feature many buyers don't think about, until their first missed delivery

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Property developers are offering greater incentives to financial planners who refer self-managed super fund clients to their projects as the appetite for real estate among the $430 billion DIY super fund sector continues to grow.
The closer ties and increased financial incentives come on the back of recent changes to self-managed super fund rules and the growing investment appeal of property over shares, which have spurred more financial planners to add property advice to their service proposition.
According to ATO figures, during the past year the amount of money SMSFs are allocating to property has jumped 25%.
In May this year property developer Stockland signed an agreement with financial planning group Professional Investment Services whereby it would pay its planners 3% for referring leads that result in a sale.
According to the Australian Financial Review, developers have now upped the ante by reportedly offering commissions of up to 7% for successful referrals.
From July next year financial planners will be banned from receiving commissions from fund managers and other investment providers, but this ban does not extend to receive commissions from real estate developers.
Financial planning group Money Tree provides property advice as well as mortgage lending and investment property sourcing to its client. It promises “exclusive access to some of best investment properties in Australia”.
Besides the volatile share market encouraging a reweighting towards real estate, property has become more attractive following the release of draft ATO rules that allow DIY funds to renovate and improve their properties (provided they don’t have to borrow within the fund to do so) as well as greater clarity about the type of real estate assets that a fund can acquire.
Ray White and Raine &amp; Horne are among the real estate franchises who have already set up referral arrangement with financial planners while McGrath Real Estate is also believed to be considering a partnership with advisers.
However, the move by developers to circumvent real estate agents has drawn concern from industry bodies, with the Real Estate Institute of Australia defending the role of its members in the buying and selling of property and providing property advice.
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lschlesinger-FZcF9M3vE6

Financial planners and developers join forces to entice SMSF investment

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There has been a marked increase in the number of distressed development sites put up for sale, particurlarly in NSW and Queensland, according to research carried out by property valuation group LandMark White.
Almost a third of major investment properties advertised in the Australian Financial Review in August were forced sales, the firm has found, with this figure rising to about 50% for sales in NSW and Queensland.
At the other end of the spectrum, just 5% of properties up for sale in Victoria are distressed sales, with the state building a reputation as a safe haven for developers.
However, according to Vanessa Rader, head of research at LandMark White, the increase in the number of distressed sales put up for sale will not automatically push up yields.
She says yields have stabilised since the GFC, with vendors selling now to cut their losses.
Distressed assets up for sale include <a href="https://www.propertyobserver.com.au/developments/raptis-boutique-gold-coast-site-in-receivership-listing/2011100451804" target="_blank">Midwaters, a 1,232-square-metres property at 3496 Main Beach Parade on the Gold Coast</a> that was to be the site of a $48 million 17-storey tower by veteran development group Raptis. The site is being marketed by Stephen Kidd and James Taylor from Colliers under instruction from the mortgagee Wellington Capital with offers due by October 12.
Another distressed asset up for sale is another section of the Martha Cove residential and marina project on the Mornington Peninsula, which is being marketed by CBRE agent Scott Gray-Spencer on behalf of receivers McGrathNichol.
Gray-Spencer says a lot of pressure has been placed on vacant, unapproved land, assets the banks wish to get off their books.
According to receivers KordaMentha, non-incoming producing assets such as development sites are pushing up the number of forced sales.
Berrick Wilson, partner at KordaMentha, says there are a lot of development sites no longer feasible in the current environment.
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Half of NSW and Queensland development site listings distressed

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Replacing negative gearing with a new land tax as recommended in the Henry tax review is one idea to come out of the second day of the Tax Forum.
Property bodies, academics and welfare groups traded blows on whether tax concessions for property investment helps to boost housing supply, skews investments in property and costs the government more than it delivers.
Former ANZ chief economist Saul Eslake, now with the Grattan Institute, says Australia’s negative gearing system is the world’s most generous.
“When you talk to foreigners about this you have to explain what negative gearing is,” Eslake told the forum.
Responding to commentary that negative gearing helps housing supply and puts downward pressure on rents Eslake said most people who use negative gearing buy established housing, not new supply.
“The problem is with 1.7 million taxpayers doing it, that’s why both sides of politics were in a race to rule it out after the Henry review,” he says.?
“And you can only achieve reform of this nature with bipartisan support.”?
Nicola Ballenden from of the Brotherhood of St Laurence said the charity supports the recommendations in the Henry review in equalising the tax treatment of investment income.?
“And in that absence ... we should talk about limiting it,” she says, describing the practice as inequitable in two ways – people on lower incomes are not only unable to use the tax concessions but they have further competition for housing.
Shane Goodwin of the Housing Industry Association said removing negative gearing “doesn’t necessarily improve the way we treat other forms of investment".?
“Before we start tackling things like negative gearing and capital gains tax, we need to fix the supply constraints,” Goodwin says.
He also says negative gearing adds to new housing supply, is largely illiquid, comes with large transactions costs and receives similar treatment to other forms of investment.
“If we going to remove negative gearing, it can’t be in isolation,” Goodwin says.
Judith Sloan of National Seniors Australia cautioned against “Pollyanna” solutions and warned that changing the taxation of property investments would provide complications for investors, who by and large are not rich and who have made their investments in good faith based on parameters set at the time".
“There would be very significant consequences for people who have average incomes and are trying to make arrangements for their retirements,” Sloan says.?
Eleri Morgan-Thomas from Mission Australia saysthe charity is seeing “long-term structural problems with the rental market” notwithstanding the recent flattening of prices and expects supply to continue to be a problem.
Pointing to revenue foregone from negative gearing Morgan-Thomas proposed a public/private partnership where some of the income foregone in income tax is put into a social investment bond.
This article originally appeared on <a target="_blank" href="https://www.smartcompany.com.au/tax/20111006-tax-forum-push-to-replace-negative-gearing-with-land-tax">SmartCompany</a>.
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cknowlton-QnEa6ntUYP

Tax Forum: Push to replace negative gearing with land tax

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Bill Morris, principal the Midwood Report, has slammed both the federal government and the Queensland state government for not doing enough to support the state struggling tourism operators.
Speaking to Property Observer, he says funding efforts have been directed almost entirely at the booming mining sector despite 30% of Queensland’s 115,000 registered companies being in the tourism industry.
Morris says tourism operators deserve either a tax break or a GST rebate to compensate for the historically high Australian dollar.
According to the August Midwood Report, areas heavily dependent on overseas tourists have suffered big drops in revenue when comparing the March quarter of 2011 with the March quarter of 2010.
Accommodation takings for Whitsunday Island resorts are down 16% compared to the same time last year, while the Great Barrier Reef islands and adjacent mainland areas (including the likes of Port Douglas) are down 21% over this time period.
Gold Coast takings are down 4% while on the Sunshine Coast they are down 8%. Earnings in Cairns have dropped 1%.
Gold Coast visitor numbers were impacted heavily by the natural disasters of January and February this year as well as by the grounding of Tiger Airways and the general decline in overseas visitors to Australia.
<img src="/images/stories/queenslandtourism.gif">
In the March 2011 quarter the average occupancy rate for hotels, motels and serviced apartments combined was 66.9%, the lowest for over a decade.
While room rates increased by 1% compared with the previous corresponding period, further discounting is expected to impact the results for the next two quarters, the report warns.
The August Midwood report provides commentary on the Australian-Chinese tourism summits held in Cairns and Sydney in June and which will be followed up by a summit in January.
The summit highlighted that Queensland tourism remains heavily dependent on Chinese tourism with the state receiving around 42% of all Chinese visitors to Australia, but only 5% arriving directly.
As a consequence, the Midwood report calls for more direct air access from the Chinese mainland.
Despite the high Australian dollar and natural disasters, the Gold Coast experienced 10% growth in Chinese visitors. Brisbane welcomed 28% more Chinese visitors, with state figures up 25% for the year to June 2011.</body></html>

Queensland tourism industry needs government help: Midwood

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Debt is an essential component of A-REIT balance sheets. An A-REIT can increase its returns by employing debt secured against the value of its underlying real estate, a technique known as leverage or gearing. The effective management of debt is an essential skill in the effective management of an A-REIT.
Until the onset of the GFC, the use of gearing was stimulated by the relatively low cost and availability of debt capital, which enabled an increase in A-REIT earnings by acquiring positively geared property. However, excessive levels of gearing magnified the steep decline in asset values during the GFC.
In 2006, the A-REIT sector, as represented by the S&amp;P/ASX 300 A-REIT Index, was geared to 37%. This figure is now a more conservative 30%, lowered by a combination of asset sales and recapitalisation of balance sheets through the raising of new equity capital. The interest coverage ratio, or the ratio of income to interest payable on debt, has increased from 3.1 times in 2006 to a relatively healthy 3.9 times today, in line with the lower level of debt employed in the sector.
A-REITs tend to split their debt between fixed-rate and floating-rate facilities. The current average is 69% fixed, giving some degree of interest rate certainty. Much of this debt comes from the banking sector which holds about 50% of all A-REIT debt, public markets holding a further 40% and private lenders which holds the balance.
A-REITs range widely in their use of gearing. Goodman Group employs a gearing level of 36% while Westfield Group also carries relatively high gearing of 40%. Both these groups incorporate significant development operations. Others, such as GPT and Westfield Retail Trust, carry more conservative gearing of just 23% and 21% respectively.
Gearing must be appropriately structured and managed, and set in a portfolio that can sustain it. The consequences of excessive gearing can be disastrous, as demonstrated by A-REITs such as <a target="_blank" href="https://www.propertyobserver.com.au/industry-news/centro-says-it-must-restructure-or-fail/2011082951331">Centro, which crashed after being unable to refinance the debt it had amassed to fund acquisitions.</a>
Mark Wist is senior asset consultant at <a target="_blank" title="Atchison Consultants" href="https://www.atchison.com.au/">Atchison Consultants</a>.
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markwist-Vaq6S8Xoby

The place for debt in A-REITs

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Meriton Apartments has commenced the marketing of the initial Oceanvale offering on its eight-hectare $276 million Warriewood estate. The first stage comprises 226 apartments.
Its comes just three weeks after Pittwater Council failed in its bid to stall Meriton’s approval, which was given earlier this year by the NSW Planning and Assessment Commission (PAC).
Prices start at $425,000 for one-bedroom units, two-bedroom units from $545,000 and three-bedroom units from $640,000.
The display centre is open at the corner of Macpherson Street and Boondah Road.
The Land and Environment Court ruled last month the 450-apartment project on Sydney’s northern beaches could proceed given it accorded with the state government’s policies as laid out in the north east subregional strategy, which refers to a target of 4,600 new dwellings in the Pittwater local government area to be constructed by 2031.
The PAC decision in January noted there was a need to increase housing stock in metropolitan Sydney and in each subregion to meet housing demand from a growing population and changing household requirements.
The PAC says it took its lead from the state government’s 2010 Metro Strategy and approved a concept plan limiting building height generally to three storeys and development densities to a maximum of 60 dwellings per hectare.
It notes the proposed height is considered compatible with surrounding streetscape and the density is sustainable given the location.
The PAC strongly recommended that the council and the Department of Planning work together to jointly prepare a comprehensive strategic study of the whole Warriewood Valley.
“In the absence of such a study and in order not to unreasonably delay a determination of the applications in considering the merits of the project, the PAC takes its lead from the Metro Strategy as guiding its conclusions regarding the appropriate development density and height at the site,” the court judgement notes.
The PAC considered that a three-storey limit was appropriate, with a fourth storey on certain buildings in the centre of the eight-hectare site.
The project application for stage 1 was also approved subject to the modified concept plan and conditions.
The council submitted there was a requirement for certainty in relation to the determination of concept plans.
Meriton had sought approval for residential development at a density of 75 dwellings per hectare and building heights of variously three, four and five storeys.
The most recent council strategic report – the Warriewood Valley planning framework 2010 – recommended 25 dwellings per hectare.
Under the council local environment plan the site is identified has permitted to have a density of 17 to 18 dwellings per hectare. The development control plan specifies a building height of two to three storeys for the site.
Residents have claimed any 19-metre-high, five-storey development would be the tallest approved on the peninsula since the council was formed almost two decades ago.
The site determination by the PAC followed the procedural state government’s Part 3A planning law that removed council control over the assessment process.
Pittwater Council list the site’s history as August 2009, when under Part 3A of the Environmental Planning &amp; Assessment Act 1979 , a major project was declared at 14-18 Boondah Road, Warriewood.
Under part 3A, the Minister for Planning was the consent authority, rather than Pittwater Council, however the minister delegated determining authority to the Planning Assessment Commission. The council made a submission on the Environmental Assessment and a submission on the preferred project report objecting to the major project application.
On January 18, 2011 the PAC approved a concept plan and project approval for stage 1 works, subject to modifications limiting the number of building storeys and the development density. The concept approval stated that all future stages of the development are to be lodged with and assessed by council.
Information relating to the major project application and the PAC's report may be viewed via the <a href="https://www.planning.nsw.gov.au/" target="_blank">Department of Planning &amp; Infrastructure website</a>.
A development application for stage 2 of the concept plan was lodged with council on April 15, 2011 (N0125/11). This application has now been withdrawn by the applicant.
Pittwater Council appealed the PAC's decision in the Land and Environment Court. The judgment was handed down on September 12, 2011, dismissing the council's appeal.
The concept plan and stage 1 of the development, approved by the PAC, remain valid consents.
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jchancellor-FAypfDUnLy

Pittwater's objections struck down, Meriton Warriewood development starts selling

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The Brisbane entertainment precinct of Fortitude Valley is becoming a hotspot for residential development, and a new 191-apartment complex is set to add to it upon its completion in early 2013.
David Devine’s Metro Property Development, in partnership with Pearls Australiasia, have designed the 14-storey Brooklyn complex on Brookes Street as a New York-style apartment building.
The 14-storey complex will comprise six studio apartments from $305,000, 85 one-bedroom apartments from $356,500, 21 two-bedroom, one-bathroom apartments from $489,500 and 79 two-bedroom, two bathroom apartments between $543,000 and $705,000.
“With its close proximity to the Brisbane CBD and Fortitude Valley’s vibrant shopping, restaurant and entertainment precinct, it’s extremely attractive to individuals and couples looking for an exciting inner-city lifestyle,” says Metro Property Development executive chairman David Devine.
Architecture firm Woods Bagot is designing the complex, which will be very modern in feel with extensive use of glass and textured concrete.
Woods Bagot principal Mark Damant says design of the development was inspired by its namesake city.
“The acknowledgement of the wider block and its urban context inspired the ‘New York’ approach to the design – presenting the building as a series of closely related individual towers, rather than a microcosm of a city,” Damant says. “Brooklyn on Brookes exudes cosmopolitan flair yet embraces the traditional rustic feel that is akin to Fortitude Valley’s urban footprint.”
The development officially launched yesterday, October 4, and Metro Property Development says it has had a flood of interest from potential owner-occupiers and investors, but local and overseas.
The building includes a swimming pool and gym, and the living area in each apartment will have full-width glass windows.
<a target="_blank" href="https://www.propertyobserver.com.au/developments/alex-perry-development-and-others-all-the-fashion-in-fortitude-valley/2011091551568">Other Fortitude Valley developments in the work include a 131-apartment building designed by fashion designer Alex Perry, the 20-storey Belise at 510 St Paul’s Terrace and Leighton’s 18-storey Mosaic project.</a>
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Fortitude Valley's Brooklyn development offers a taste of the Big Apple

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Westpac is offering to put a $1,000 into a Westpac bank account for borrowers who take out a new mortgage valued at over $250,000 as it looks to entice more home buyers.  
The offer is part of its Spring Home Loan Celebration campaign and applies to new Premier Advantage Package home loans until the end of October.  
The cash reward builds on other limited-time incentives offered by the bank including a discount of up to 0.8% per annum off the variable rate home loan, and a 20% discount on the first year of home and contents insurance on a new home.  
To qualify for the $1,000 cash back, customers must set up their home loan repayments by direct debit from their Westpac banking account before the end of October and settle their loan by the end of January 2012.  
Other incentives include:
<ul>
<li>Free APM Property Profile report when customers meet with one of our home finance experts </li>
<li>$0 establishment fee </li>
<li>$0 monthly service fee on Westpac Choice transaction account with no minimum monthly deposit required</li>
<li>$0 annual fee on a selected packaged credit card</li>
</ul>
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Westpac entices mortgage customers with cash offer

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The RBA has issued a series of charts that give insight into the Australian housing market.
The housing loans approvals chart indicates just how subdued the first-home buyers’ market has been ever since the end of the bonus boost that followed the global financial crisis.
<img src="/images/stories/rbaoct51.gif">
Investors don’t have much presence either.
The number of home upgraders didn’t slip as much as other market segments after the GFC, and appear to be keeping the listings ticking over with purchasers.
The next chart indicates how all the capital cities prices have eased over recent times, although Sydney and Canberra have been the most resilient.
<img src="/images/stories/rbaoct52.gif"> 
The next chart shows our net worth including dwellings, financial assets and liabilities.
 <img src="/images/stories/rbaoct53.gif">
The elephant in the room is household indebtedness.
<img src="/images/stories/rbaoct54.gif">
But we have been recently shown as capable of saving more. 
<img src="/images/stories/rbaoct55.gif">
Taking the five charts into account, overall you’d have to conclude we aren’t too badly off.
The full set of RBA charts is available on <a href="https://www.rba.gov.au/chart-pack/household-sector" target="_blank">the RBA's website</a>.
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RBA charts show overall we're not too badly off

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The major banks will struggle to continue to offer discounted mortgage rates in an environment of low credit growth, according to J.P. Morgan/Fujitsu’s Australia Mortgage Industry Report.



Report author Scott Manning says while the current discounting off headline rates is not a new phenomenon, “the speed with which it has developed, and the depth at which it now is, is quite remarkable”.



But he says the current pricing is largely being supported by improving deposit spreads, which would not be sustainable in periods of low credit growth, particularly as offshore wholesale funding markets remained challenging.



“We believe the current pricing is about as competitive as it can get prior to diluting profitability. In this type of environment, retaining existing higher margin customers is imperative,” he says.



The report forecasts system housing credit growth to remain at “mid-single digits” over the coming years, compared with the mid-teen growth rates experienced before the GFC.



Housing credit growth has continued to soften over the last 12 months, driven by a range of factors including ongoing weak business and consumer confidence and concerns over global growth and the European sovereign debt crisis. The average three-month annualised growth rate for housing credit was 6.5%.



Earlier this week, <a href="/news">NAB head of business banking Joseph Healey claimed the bank was not been adversely affected by its mortgage discounting battle with its major rivals</a>.



The major banks are offering discounts of about 1% to some customers through mortgage brokers and higher through bank branches.
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