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

Joel Robinson

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

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

DVB Projects to launch second Broadbeach apartment tower as demolition commences

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

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

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

Boutique Gordon townhomes now come with a BMW iX3 50

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

Vitale breaks Byron Bay records with EADE sales flurry 

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

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

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

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

Every First Home Owner Grant for new property by state

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

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

Staff Writer

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

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

alisonwarters@gmail.com

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

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

Ellen Walker

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

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

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

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The Reserve Bank’s Monetary Policy Committee has left the cash rate unchanged at 4.75% for the 10th straight meeting.
It is now 11 months since the RBA last raised the cash rate. It raised the rate by 25 basis points to 4.75% in November 2010.
In his statement accompanying the decision, RBA governor Glenn Stevens said the board noted that “financial conditions have been easing somewhat, with interest rates for some housing and business loans declining slightly due to increased competition and the fall in some funding costs in financial markets”.
“The exchange rate has also declined from the very high levels of a few months ago. Credit growth remains low, however, and asset prices have declined,” he said.
Global factors continued to weigh on the mind of the RBA, Stevens said:
“Conditions in global financial markets have continued to be very unsettled, with uncertainty increasing about both the prospects for resolution of the sovereign debt and banking problems in Europe, and the outlook for global economic growth. While temporary impediments that had contributed to a slowing in growth in some countries over recent months are lessening, recent data suggest a continuing period of soft economic conditions in both Europe and the United States. Moreover, the uncertainty and financial volatility have reduced confidence, which could result in more cautious behaviour by firms and households in major countries,” Stevens said.
The decision was in line with a survey of 22 economists by Reuters, with all forecasting no rate change in October.
Four institutions, including Westpac, are tipping the cash rate to come down before the end of the year.
The dollar fell slightly, trading around the 95 US cents mark, 0.2% down on the day.
Laing + Simmons general manager Leanne Pilkington says she hopes the decision to leave rates on hold will continue to entice potential buyers to invest in the still-fragile property marketplace.
“The residential property market has been sluggish in recent months, to say the least,” she says.
“Uncertainty is understandable given the continuing instability of the Australian stock market, which has recently seen huge losses wiped from the value of shares, and the lingering unpredictability of US and Eurozone financial markets. Falling confidence has inevitably led to reduced spending and the underlying fear of another recession has everyone sitting on their hands.”
While she says there is still a strong case to be made for a cut in the official cash rate in the coming months, the decision to leave interest rates on hold does give a certain reprieve for those looking to enter the property market.
“A strong spring season will restore much-needed confidence in the housing market. Already there is evidence that it is being buoyed by a rush of [NSW] first-home buyers looking to get a foot in the door before the removal of stamp duty concessions on existing properties kicks in on December 31.”
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lschlesinger-FZcF9M3vE6

As expected, RBA leaves rates on hold

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Directors of the ASX-listed Investa Office Fund have decided not to exercise a call option to acquire a 50% interest in 242 Exhibition Street, a 42-storey office building in the Melbourne CBD.
The option was granted by the fund’s holding company Investa, Property Group, and expired at midnight on September 30, 2011.
Investa Property Group jointly owns 242 Exhibition Street in conjunction with the Investa Commercial Property Fund.
While the fund says the qualities and characteristics of the property are complementary with the strategy of “repositioning the portfolio to core Australian CBD office markets”, its immediate capital priorities are to execute the unit buyback and dispose of the offshore property assets, both of which it says are progressing well.
The Exhibition Street A-grade building is worth about $425 million.
It has 65,913 square metres of net lettable area and an average floor size of 1,400 square metres. The building’s major tenant is Telstra.
Investa Office Fund holds a $2.6 billion portfolio of investment grade office buildings in core CBD markets in Australia and selected offshore markets in the US and Europe.
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Investa Office Fund declines half-stake in Melbourne office building

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Construction of apartments looks set to pick up over spring following a big jump in non-house dwelling approvals in August, according to ABS estimates.
The seasonally adjusted estimate for private sector dwelling approvals excluding houses rose 35.1% to 5,829 dwellings in August following a rise of 0.4% in July.
The biggest increase occurred in NSW, with unit approvals up 45% over August, with a 19% increase in Queensland and a 17% rise in Tasmania.
There were smaller increases in Victoria (7%) and WA (5%).
Westpac says dwelling approvals were much stronger than expected in August "but are dominated by what are likely to be temporary boosts".
"Outside of these influences, conditions remain decidedly soft," the bank says.
It cautioned against reading too much into the "very sharp" spike in units saying this segment is "often very volatile as it includes large, 'lumpy' multi-unit high rise developments".
"Although the August rise was 'shared' across NSW, Victoria and Queensland, by far and away the biggest spike was in NSW where unit approvals more than doubled month-to-month to the highest reading since January 2003.
"Digging down into the detail, the rise was driven by 'high rise' apartments which saw an extraordinary 1,890 dwellings approved - the biggest reading since 2002."
"This is more than likely to be due to several very large projects passing approvals and as such is not a strong guide to underlying momentum, although these approvals will clearly still feed into actual building activity," the bank says.
The Housing Industry Association (HIA) described the August result as "solid" but expressed concern at continual slide of the "core detached housing sector" which is down 4.4% for the three months to August 2011.
According to HIA senior economist Andrew Harvey, this reflects the fact that"interest rates are too high and consumers are increasingly cautious given volatility in the global economy and weakness in the non-resource domestic economy".
With the $10,000 building boost for new houses kicking off in Queensland on August 1, private sector housing approvals increased by 16% over the month.
However, overall private sector new house approvals fell 1% in August 2011 to 7,547 houses, following a rise of 0.2% in the previous month.
Overall, dwelling approvals were up 11.4% on a seasonally adjusted basis following a rise of 1.8% in July.
The seasonally adjusted estimate for the value of total residential building rose 10.8% and the value of non-residential building rose 20.3%.
Overall, the value of total building approved rose 14.2% in August following a fall of 4.1% in July.
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New unit approvals up 35% in August: ABS

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The iconic Dickens Manor estate in Elwood has been listed for sale.
The house was built for the architect T.J. Crouch, who established the Royal Victorian Institute of Architects in 1856.
It’s been a wedding reception venue for many decades.
Offers are due by October 28, with more than $3.5 million expected.
The 1,296-square-metre site has an older-style two-level mansion and comes with a planning permit to reconfigure the existing building into individual residential units with scope for additional development on the vacant land.
The Dickens Street property has been listed by CBRE city sales agents Mark Wizel and Josh Rutman.
“We anticipate the strongest interest to come from developers looking to construct a multi-unit project and also expect interest from buyers looking to add a modern extension to the current classically styled building,” Rutman says.
Wizel says the location of the property is likely to help drive interest in the site.
“This is an ideal offering in the current funding climate as we have observed significantly less barriers to entry for developments of 50 or less units.
“We understand this to be both the preference of the majority of developers, as well as the preference of Australia’s leading financial institutions,” Wizel says.
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jchancellor-FAypfDUnLy

Subdivision likely as Elwood's Dickens Manor put on the market

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The battle for fixed-rate borrowers continues with NAB cutting its one-, two- and three-year fixed rate mortgages.
The bank’s one year fixed-rate product has been cut by 15 basis points to 6.34%, bringing it under that of its major bank rivals but still higher than <a target="_blank" href="/news">Greater Building Society’s one-year rate</a>.
Commonwealth Bank’s one-year fixed rate is 6.38%, followed by ANZ on 6.39% and <a target="_blank" href="/news">Westpac on 6.49%</a>.
NAB has also cut its two-year and three-year fixed-rate products by 10 basis points to 6.39% and 6.34% respectively.
NAB’s rate cuts follow September figures put out by AFG showing <a target="_blank" href="/news">a big jump in fixed rate mortgages processed by its brokers</a>.
About 16.6% of all new home loans processed by AFG brokers in September were fixed-rate products, compared with 9.4% in August.
Yesterday, NAB’s head of business lending Joseph Healey claimed <a target="_blank" href="/news">the bank was feeling no ill effects from consistently cutting its mortgage rates.</a>
NAB executive general manager of consumer product solutions John Salamito points to the latest Reserve Bank of Australia figures that show that NAB continued to grow its home lending above average market growth for the 20th month in a row.
He also turned up the heat on its big four rivals.
“NAB has offered the lowest standard variable interest rate amongst the major banks for more than two years, as well as continuing to offer competitive fixed rates,” he says.
“Our latest adjustments to fixed rates reflect current markets and our commitment to offering customers competitive rates.”
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NAB undercuts big rivals on one-year fixed rates

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<img src="/images/stories/tamarama3.jpg">
The architect-designed Tamarama house (pictured above) owned by Dan White, the Bellevue Hill-bound great-grandson of the founder of the Ray White real estate empire, and his wife, Sam, has been sold.
At $6.6 million it was a little short of its <a target="_blank" href="https://www.propertyobserver.com.au/residential/title-tattle-bill-gates-rents-on-sydney-harbour/2011092351664">desired $7 million selling hopes </a>when initially listed through Ray White Double Bay's Elliott Placks.
The suburb’s record $11 million sale – and another at $10.5 million – were achieved in mid-2008 just before the global financial crisis and its ensuing prestige price re-adjustment.
While certainly no longer commanding ambitious boomtime prices, it’s the second prestige home to sell at Tamarama in the past month.
<img src="/images/stories/wolorai.jpg">
The Bellevue Hill-bound plastic surgeon<a href="https://www.propertyobserver.com.au/residential/title-tattle-third-brighton-behemoth-joins-the-fray/2011091651583" target="_blank"> Robert Drielsma</a><a target="_blank" href="https://www.propertyobserver.com.au/residential/title-tattle-third-brighton-behemoth-joins-the-fray/2011091651583"> has sold his Tony Masters-designed Tamarama house</a> (pictured above) for about $6.75 million.
The four-bedroom house last sold for $6.1 million in 2004 when it was bought from the Rubicon bigwig Gordon Fell and his wife, Pip.
The contemporary, three-level house in Wolaroi Crescent was built after the 501-square-metre block was bought for $1.45 million in 1997.
Bordering the gully reserve of Tamarama Park opposite the beach, the three-level house is set in landscaped gardens designed by William Dangar.
The house sold through Pauline Goodyer of GoodyerDonnelley Real Estate and Belle Property's David Vereker, who were aiming for $8 million.
Its initial hopes last year were $11 million.
It’s now been listed at $5,000 a week through Sydney Slice Executive Rentals by its new owner.
The White couple sold because they're upgrading to a 2,460-square-metre Victoria Road property in Bellevue Hill with tennis court.
The four-bedroom, four-bathroom Tamarama residence constructed three years ago has interiors by Briony Fitzgerald, the interior designer daughter of the acclaimed designer Ann Gyngell.
Drielsma and his wife, anaesthetist, Debbie Hong, have upgraded to a Bellevue Hill residence they bought for $9.85 million earlier this year. It had been listed in August last year with $14 million hopes.
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Tamarama loses some glamour as post-GFC prestige sales find their feet

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There are 40 suburbs across Melbourne that have $1 million-plus median house prices, according to RP Data.
This is four more than last year and 18 more than recorded over the year to June 30, 2009.
Toorak, with 111 house sales during the financial year, ranked as the most expensive suburb according to the RP Data list, with a $2.4 million median price.
Toorak was the founding member of Melbourne's million-dollar club, when 10 years ago it recorded 174 house sales resulting in a median price of $1.05 million.
Deepdene was second priciest at $2.02 million – but from just 11 sales ranging from $1.55 million to $3.7 million.
Tim Lawless, national head of research at RP Data, says 10 of the 40 suburbs fell within the prestigious Boroondara Council region.
There were six of the suburbs in the Bayside Council area nd five in each of the Port Phillip and Stonnington precincts.
The remainder were distributed across Glen Eira (four), Banyule (three), Whitehorse (two), Melbourne (two), Darebin (one), Mornington Peninsula (one) and Moonee Valley (one).
New entrants to the list were Alphington ($1.07 million from 31 sales), Caulfield South ($1.03 million from 87 sales), Ivanhoe ($1 million from 83 sales) and South Melbourne ($1.01 million from 101 sales).
Given the list’s requirement for at least 10 sales over the 12-month period, some suburbs such as Kooyong don't show enough activity.
“Over the year to June 30, Kooyong has recorded only nine transactions and all except two of them were over the million-dollar mark,” Lawless notes in The Age.
Lawless notes statistics from the RP Data-Rismark home value index had the premium sector of the market slowing at a more rapid rate than other price segments.
Throughout the year to July, values across Melbourne's top 20% of suburbs dropped 9.8% compared with much smaller falls across the more affordable price segments.
“Next year it will be interesting to see how the million-dollar-club is fairing,” Lawless notes.
Australian Property Monitors recently <a target="_blank" href="https://www.propertyobserver.com.au/residential/sydney-now-has-106-suburbs-above-%241-million/2011092351661">indicated Sydney had 106 suburbs with median house prices of more than $1 million in the six months to July</a>.
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Melbourne's million-dollar-club continues to grow: RP Data

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Property investors continue to come under heavy fire for distorting the housing market and exacerbating housing affordability problems as the Canberra Tax Forum gets under way today.
The latest to have a go at landlords is Sarah Toohey, campaign manager of lobbying group Australians for Affordable Housing, who says the current tax system allows investors to use their rental properties like an offshore bank account. Toohey is not attending the tax summit.
Toohey points the finger at negative gearing provisions, which she says “encourage investors to make a loss and reduce their tax payable”.
“Essentially it allows higher income earners to use rental housing as a tax shelter. It's the offshore account of the Australian tax system,” Toohey writes in an opinion piece for the ABC’s opinion website The Drum.
“If that wasn't enough, investors also get a 50% tax discount on any capital gain they make on the sale of the property. It means that any income gained through property appreciation gets taxed at half the rate of other income,” she adds.
Her complaint follows <a href="https://www.propertyobserver.com.au/residential/housing-academic-says-landed-gentry-destroying-fair-go/2011092851716" target="_blank">property investors being called the “landed gentry”</a> by Ian Winter, executive director at Australian Housing and Urban Research Institute and <a href="https://www.propertyobserver.com.au/tax/academic-calls-on-canberra-to-fix-housing-tax-mess/2011100251762" target="_blank">accused of being unfairly favoured under the current tax system</a> by Melbourne University’s Miranda Stewart.
Toohey says the insidious effect of these two tax breaks (negative gearing and capital gains) is felt when they work together.
“Tax deductibility encourages investors to borrow more than they can afford, because they're really borrowing to make a loss on the cost of running the property, in anticipation of a capital gain payoff.
“Because investors aren't constrained by what they can actually pay, they push up house prices, and get an unfair advantage over first-home buyers, indeed all home buyers, who can only spend what they're able to afford based on their income,” she says.
Toohey quotes ATO statistics for the 2008-09 financial year that show that landlords claimed a collective loss of $6.5 billion, while earning $24 billion in rent.
“These tax breaks go to people who need it least, generally existing home owners with some wealth to spare. They encourage investment in established housing at and do little to relieve the shortage of 493,000 rental properties that are affordable and available to people on low incomes,” she says.
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Property investors under fire as tax summit kicks off

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An auction of the next tranche of 7-Eleven convenience stores is expected to attract interest from private investors, particurlarly those with self-managed super funds. 
The 10 stores are all based in NSW within a roughly 80-kilometre radius from the Sydney CBD.
The Sydney auction is schedule for November 9 and is the third auction of 7-Eleven properties in New South Wales this year.  Previous auctions attracted yields of between 6% and 8%.
The stores, purchased as part of 7-Eleven’s acquisition of 250 retail sites from Mobil Retail in 2010, include service stations, convenience stores and customer parking.
All stores come with 15-year leases to 7-Eleven with three renewal options of five years each. 
They range in size from 1,200 square metres in Yagoona on the Hume Highway to a 4,300-square-metre site in Wilson Street in St Mary’s. 
The sale is being handled by John Macree, NSW head of sales and investments at Jones Lang LaSalle, who says prices and yields are expected to vary greatly given the different sizes.
 
Macree says the NSW portfolio will appeal to “self-funded retirees including those with self-managed super funds because of the stable long-term income stream and the banks’ willingness to offer attractive finance packages on these style of assets”. 
He says that following the success of the previous campaign, a number of prospective buyers had already been making enquiries. 
“The last auction attracted a number of keen bidders and we expect that some of those who missed out on an opportunity last time will be heading to the auction room again in November. This portfolio is attractive for a number of reasons including the quality of the tenant, long-term leases and prime locations,” he says. 
During a previous auction in July 12 out of 13 sites sold, with a 5,575-square-metre Hoppers Crossing site on the corner of Old Geelong and Heaths Road achieving the highest price of $3.49 million. 
The properties that will be up for auction in November include: 
<table cellpadding="0" cellspacing="0" border="1" style="width: 470px;"><tbody>
<tr>
<td valign="top" width="308">
Location
</td>
<td valign="top" width="308">
Site area (sqm)
</td>
</tr>
<tr>
<td valign="top" width="308">
Emu Plains, 126-128 Old Bathurst Road 
</td>
<td valign="top" width="308">
3,328 
</td>
</tr>
<tr>
<td valign="top" width="308">
St Mary’s, 2 Wilson Street 
</td>
<td valign="top" width="308">
4,328 
</td>
</tr>
<tr>
<td valign="top" width="308">
Gymea, 110 Gymea Bay Road and 353 President Avenue 
</td>
<td valign="top" width="308">
1,233 
</td>
</tr>
<tr>
<td valign="top" width="308">
Lindfield, 238-240 Pacific Highway 
</td>
<td valign="top" width="308">
1,708
 
</td>
</tr>
<tr>
<td valign="top" width="308">
Yagoona, 519 Hume Highway 
</td>
<td valign="top" width="308">
1,267
 
</td>
</tr>
<tr>
<td valign="top" width="308">
Ingleburn, 72 Cumberland Street 
</td>
<td valign="top" width="308">
1,728 
</td>
</tr>
<tr>
<td valign="top" width="308">
Ryde, 328 Blaxland Road 
</td>
<td valign="top" width="308">
2,093
</td>
</tr>
<tr>
<td valign="top" width="308">
Lansvale, 22-36 Hume Highway
</td>
<td valign="top" width="308">
4,874
</td>
</tr>
<tr>
<td valign="top" width="308">
Woolooware, 192-196 Kingsway
</td>
<td valign="top" width="308">
2,532
</td>
</tr>
<tr>
<td valign="top" width="308">
Turramurra, 1408 Pacific Highway
</td>
<td valign="top" width="308">
2,824
</td>
</tr>
</tbody></table>
The 7-Eleven company has 32% of the convenience retailer Eastern Seaboard market. The company generates approximately $3 billion in sales per year.
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Investor interest expected for 7-Eleven portfolio auction

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Five out of 20 economists surveyed by the Australian Financial Review expect the Reserve Bank to cut interest rates by the end of the year, while six tip rates to fall over the next six months. Five others expect rates to rise in the next six months.
The most popular six-month forecast (the view held by nine out of 20 economists) is for the RBA to leave its finger on the pause button.
In the previous AFR quarterly survey carried out at the end of June, only four out twenty economists (Westpac, St.George, Goldman Sachs and UBS) correctly predicted that rates would remain on hold at 4.75% with the majority of economists expecting a rate rise by now.
The economic barometer has shifted significantly over the past three months as the world economy lurched from one crisis to the next and the outlook for the US and the Eurozone remains unstable and uncertain.
Looking ahead to March next year, Shane Oliver, AMP’s head of investment strategy, is tipping the greatest fall in the cash rate by 75 basis points to 4% by while at the opposite end of the scale HSBC’s chief economist Paul Bloxham expects the cash rate to rise by 25 basis points to 5% over this period.
Oliver forecasts GDP growth of just 1.5% for the 2011 calendar year and 3.2% for the 2012 calendar year.
Four economists, including Westpac’s chief economist Bill Evans expects the cash rate to sit at 4.25% by March next year.
<table border="1" cellpadding="0" cellspacing="0"><tbody>
<tr>
<td valign="top" width="205">
Economist
</td>
<td valign="top" width="205">
3 month forecast
</td>
<td valign="top" width="205">
6 month forecast
</td>
</tr>
<tr>
<td valign="top" width="205">
Shane Oliver, AMP
</td>
<td valign="top" width="205">
4.5%
</td>
<td valign="top" width="205">
4%
</td>
</tr>
<tr>
<td valign="top" width="205">
Warren Hogan, ANZ
</td>
<td valign="top" width="205">
4.75%
</td>
<td valign="top" width="205">
4.75%
</td>
</tr>
<tr>
<td valign="top" width="205">
John Honan, Ausbil Dexia
</td>
<td valign="top" width="205">
4.75%
</td>
<td valign="top" width="205">
4.75%
</td>
</tr>
<tr>
<td valign="top" width="205">
Gavin Stacey, Barclays Capital
</td>
<td valign="top" width="205">
4.75%
</td>
<td valign="top" width="205">
5%
</td>
</tr>
<tr>
<td valign="top" width="205">
Dominic Bryant, BNP Parabis
</td>
<td valign="top" width="205">
4.5%
</td>
<td valign="top" width="205">
4.25%
</td>
</tr>
<tr>
<td valign="top" width="205">
James McIntyre, CBA
</td>
<td valign="top" width="205">
4.75%
</td>
<td valign="top" width="205">
5%
</td>
</tr>
<tr>
<td valign="top" width="205">
Joshua Williamson, Citigroup
</td>
<td valign="top" width="205">
4.75%
</td>
<td valign="top" width="205">
4.75%
</td>
</tr>
<tr>
<td valign="top" width="205">
Adam Boyton, Deutsche Bank
</td>
<td valign="top" width="205">
4.5%
</td>
<td valign="top" width="205">
4.25%
</td>
</tr>
<tr>
<td valign="top" width="205">
David Bassanese, Fin review
</td>
<td valign="top" width="205">
4.5%
</td>
<td valign="top" width="205">
4.25%
</td>
</tr>
<tr>
<td valign="top" width="205">
Paul Bloxham, HSBC
</td>
<td valign="top" width="205">
4.75%
</td>
<td valign="top" width="205">
5%
</td>
</tr>
<tr>
<td valign="top" width="205">
Stephen Walters, JP Morgan
</td>
<td valign="top" width="205">
4.75%
</td>
<td valign="top" width="205">
4.75%
</td>
</tr>
<tr>
<td valign="top" width="205">
Richard Gibbs, Macquarie Grp
</td>
<td valign="top" width="205">
4.75%
</td>
<td valign="top" width="205">
4.5%
</td>
</tr>
<tr>
<td valign="top" width="205">
Alan Oster, NAB
</td>
<td valign="top" width="205">
4.75%
</td>
<td valign="top" width="205">
4.75%
</td>
</tr>
<tr>
<td valign="top" width="205">
Stephen Roberts
</td>
<td valign="top" width="205">
4.75%
</td>
<td valign="top" width="205">
5%
</td>
</tr>
<tr>
<td valign="top" width="205">
Su-Lin Ong, RBC Capital Mkts
</td>
<td valign="top" width="205">
4.75%
</td>
<td valign="top" width="205">
4.75%
</td>
</tr>
<tr>
<td valign="top" width="205">
Felicity Emmett, RBS
</td>
<td valign="top" width="205">
4.75%
</td>
<td valign="top" width="205">
5%
</td>
</tr>
<tr>
<td valign="top" width="205">
Besa Deda, St.George Bank
</td>
<td valign="top" width="205">
4.75%
</td>
<td valign="top" width="205">
4.75%
</td>
</tr>
<tr>
<td valign="top" width="205">
Roland Randall, TD Securities
</td>
<td valign="top" width="205">
4.75%
</td>
<td valign="top" width="205">
4.75%
</td>
</tr>
<tr>
<td valign="top" width="205">
Scott Haslem, UBS
</td>
<td valign="top" width="205">
4.75%
</td>
<td valign="top" width="205">
4.75%
</td>
</tr>
<tr>
<td valign="top" width="205">
Bill Evans, Westpac
</td>
<td valign="top" width="205">
4.5%
</td>
<td valign="top" width="205">
4.25%
</td>
</tr>
</tbody></table>
The range of six month-forecasts highlights the “very usual, set of complex forces” shaping the Australian economy mentioned by RBA governor Glenn Stevens in a recent speech.
Evans’ predictions of two rate cuts by March 2012 come with forecasts of low GDP growth of just 1.2% for the 2011 calendar year and 3.6% for the 2012 calendar year on the back of “underperforming housing”
Optimistic forecasters include Nomura’s Stephen Roberts and Roland Randall from TD Securities, who expect the economy to grow by 4.6% during the 2012 calendar year.
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