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 group Dexus will look to acquire CBD office assets in the forthcoming financial year and has positive overall market outlook, according to its 2010-11 annual results. 
The group’s office portfolio, which comprises 60% of its $7.5 billion property book, delivered a return of 9% while its Australian industrial assets, which account for almost a quarter of its portfolio, returned 9.4%. 
Overall Dexus delivered a net profit of $553 million, an increase of $521.6 million on the previous year. 
In his CEO report, Victor Antink says he expects property markets will continue to recover in 2012. 
The Australian office market experienced 12 months of “above-average demand across all major markets driven by a strong domestic economy and robust employment growth,” the results show. 
During this period national vacancy rates continued a downward trend, with CBD vacancy hitting 7.6%. 
Nearly two-thirds of its office assets (65%) are held in Sydney, followed by Melbourne (14%), Perth (10%) and Brisbane (8%). 
The group completed 113 leasing transactions covering approximately 74,240 square metres of space during the year, providing increases in average rental income of 4.6% and a stable average lease duration of 5.3 years. 
“Vacancy is expected to remain relatively steady with below-average supply coming online over the next two years. We have seen increases in tenant enquiry over the year, particularly in Perth,” the report says. 
In Sydney, Dexus reported that international tenants, which make up a large proportion of the financial services and investment banking presence in the CBD, remain cautious and continue to delay relocation decisions – “due to continued uncertainty in the global economic markets”. 
During the year, Dexus completed <a href="https://www.propertyobserver.com.au/new-south-wales/prime-minister-julia-gillard-seeks-new-sydney-office-digs/2011081751191" title="Julia Gillard looks for new office digs" target="_blank">1 Bligh Street tower in Sydney</a> with Clayton Utz signing on as the major tenant, taking up the lower 15 floors of the 29-storey building. The Commonweath government is considering moving its NSW office to the building.
The $667 million development (Dexus share $227 million) is forecast to deliver a fully leased yield on cost of 7% and is currently 55% leased.
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lschlesinger-FZcF9M3vE6

Dexus looks for CBD office space in improving market

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Price estimates given  before auction by Sydney estate agents are coming under increased pressure as stock levels accumulate in spring. But in Melbourne the price guides appear overly cautious, with sales typically exceeding the estimates.
Despite the healthier price guidance Melbourne’s clearance rate eased to 53% from 55% on the previous weekend. Sydney’s weekend clearance rate stood at 58% on the preliminary results, up from 54% the weekend before last. It was 57% on initial reports, so expect the a fall once unreported non-sales come in.
In Sydney’s lower north shore at Neutral Bay, a 1930s Thrupp Street unit listed with $790,000 plus hopes sold on the weekend for $780,000. Not a major gap, but an increasingly regular occurrence.
There was a $2.75 million vendor on an unsold Manly duplex listing. The 2003 North Steyne had been listed with $3 million hopes.
The top bid on an unsold Birchgrove weekend auction listing was $1.7 million. The Grove Street listing had $1.8 million plus hopes, given it made the most of its 150-square-metre block. The Victorian terrace spans four levels and has four bedrooms and two bathrooms.
Even the first-home price bracket appears without momentum on occasions. A two-bedroom Marrickville unit listed with $500,000-plus hopes was passed in at $501,000 through Callagher Estate Agents. It had last traded for $385,000 in 2004.
Ashfield achieved a better result, with a 113-square-metre Liverpool Road listing fetching $490,000 pre-auction having been listed with $400,000-plus hopes through Raine &amp; Horne Ashfield.
A Queens Park semi sold for $2.13 million having been listed with $1.9 million-plus hopes through GoodyerDonnelley.
And there was a pre-auction sale at Bondi Beach when $750,000 was paid for an Edward Street flat listed with $700,000 plus hopes by GoodyerDonnelley.
Some agents have adopted extremely cautious estimates including a Surry Hills terrace that came with a $675,000-plus forecast. The Commonwealth Street terrace, listed through BresicWhitney, had previously sold at $660,000 in 2007. It sold before auction at $780,000.
A similar study of published pre-auction estimates of Melbourne listings suggested a greater success rate, although a $270,000 vendor bid was placed at an auction of a Commercial Road, Footscray offering that had been listed with a $280,000 to $300,000 estimate.
And a three-bedroom, renovated Federation property in Fairfield sold at $940,000 – midrange of its $900,000 to $990,000 estimate through Nelson Alexander.
About $1.6 million had been tipped for renovated 1930s Nungerner Street Balwyn offering that passed in on a $1.45 million vendor bid. It had a $1.54 million reserve through Jellis Craig.
But most of the other surveyed listings went past the upper end of the price ranges.
A $410,000 to $450,000 estimate was given on a Royal Parade, Parkville apartment that fetched $481,000 through Nelson Alexander.
There was a $520,000 to $570,000 estimate on a Prahran flat in Red Tulip factory conversion that fetched $615,000 through Biggin &amp; Scott.
A Collingwood warehouse conversion listed with $775,000 to $825,000 hopes fetched $860,000 through Jellis Craig.
A five-bedroom weatherboard  Sandringham offering with $1.65 million-plus hopes fetched $1.75 million.
An Edwardian house on Dover Street Flemington listed with $580,000 to $630,000 hopes sold through the Thomson agency at $646,500.
A $540,000 to $580,000 estimate had been given on an Esdale Street Nunawading offering that sold at $620,000 through Noel Jones.
A $476,000 sale in Yarraville through Hocking Stuart had been estimated to sell at between $400,000 and $440,000. It’s an apartment in the former 1981 St Georges theatre building, which was converted about seven years ago.
Several fell short of pre-marketing hopes. There were $1.6-million-plus hopes for a Caulfield North listing through Jellis Craig. The Alma Road offering with a McSteen Tan architects design was passed in, with bidding falling short of its $1.6 million reserve.
There was a $1.6 million vendor bid when a Ferrars Place, South Melbourne listing went to auction, having been marketed by Kay &amp; Burton with $1.55 million to $1.7 million hopes.
There was a $5 million vendor bid on a <a href="https://www.propertyobserver.com.au/victoria/vendors-of-st-kilda-west-home-hope-%245-million-is-over-the-horizon/2011092251652" target="_blank">Beaconsfield Parade, St Kilda offering</a> that had been listed with a $5 million to $5.5 million expectation.
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jchancellor-FAypfDUnLy

Sydney's auction price estimates challengable, Melbourne's better than on the money

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Melbourne buyers seem in general to have lost interest in the million-dollar-plus housing market, according to Melbourne buyers’ agent Mal James.
“But it’s not as boring out there as you might think,” James says.
“Just as some new AFL coaches bobbed up, so have a few interesting homes, and you should revisit your contacts to see what new offerings are on the horizon.”
He suggests the websites are showing a few more homes in the top end than they have for a while.
‘This is due to the selling agents planning an extended campaign around the grand final while still trying to get the home done and dusted prior to the Melbourne Cup,” he says.
He says the market has five strong themes:
<ol start="1">
<li>Very low new stock levels for family homes</li>
</ol>
“Stock levels have been below average for months with not one $100 million auction weekend in late winter or early spring for bayside and the inner east and it seems this will continue until at least after the Melbourne Cup,” James says.
<ol start="2">
<li>Upper end has some strength.</li>
</ol>
“More than one $3 million a day offering has been sold in Melbourne during September,” James says.
“We are still down on last year in terms of activity, but last year was a bumper year. So far it has been pretty much a normal September at this price level in terms of activity and price.”
<ol start="3">
<li>
Lower end of the $1 million-plus plus market is getting weaker </li>
</ol>
James says more properties in the lower end of the $1 million-plus market are being passed in, they are staying on the market for longer and they are attracting fewer bidders.
<ol start="4">
<li>
Well priced A-grade homes are selling </li>
</ol>
However, he says poorly priced B-grade and C-grade homes don’t sell, unless they are discounted.
<ol start="5">
<li>
Bayside appears considerably weaker than inner east </li>
</ol>
James says the inner-east market of Toorak, Malvern and Hawthorn is performing far better in the $1 million to $2 million price range than the bayside suburbs of Brighton, Hampton and Sandringham.
Mal James is principal of<a href="https://www.jamesbuyeradvocates.com.au/" title="James Buyer Advocates" target="_blank"> James Buyer Advocates</a>, which advocates on behalf of buyers of property over $1 million. Mal writes weekly auction reports, advice and in-depth market analysis on James' website.
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Very low new stock levels for Melbourne family homes: Mal James

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Household savings rates are at levels last seen in the mid-1980s as more borrowers look to pay off their mortgage debt sooner, the RBA says. 
After trending up since the mid-2000s, the household saving rate rose further over the past year, reaching 10.5% of disposable income in the June 2011 quarter, according to the RBA’s latest Financial Stability Review.
<img src="/images/stories/savings.gif"> 
Over this time, many borrowers have continued to make “substantial excess principal repayments, even as higher interest rates have raised required interest – and thus total – repayments”.
<img src="/images/stories/housingequity.gif">
“The average excess repayment is currently equivalent to around three-quarters of the scheduled total (principal plus interest) repayment. Consistent with this tendency to pay debt ahead of schedule, surveys have shown that a high share of households consider repaying debt to be the wisest place for savings,” the RBA says. 
“Households that make excess repayments on their home loans generally build up buffers that they can draw down in the future if required. This should be regarded as a positive development for the resilience of the sector.”
<img src="/images/stories/mortgagerepayments.gif">
The RBA noted a substantial slowdown in the pace of household credit growth declining 4.5% in annualised terms over the six months to July.
Annualised growth in housing credit eased from 6.7% over the six months to January 2011 to 5.2% over the six months to July 2011. 
Growth rates of both owner-occupier and investor housing debt have moderated so far this year. The flow of new borrowing has also moderated, with the value of monthly housing loan approvals.
 
The RBA says recent surveys suggest the uptick in mortgage refinancing since early 2011 reflects households switching to cheaper loans – amid increased competition in the mortgage market – and consolidating debt, rather than taking out larger loans. As debt accumulation has slowed in recent years, the rate of housing equity injection has increased. 
Besides making excess mortgage repayments, net repayments on credit cards have picked up in recent months.
<img src="/images/stories/debtbytype.gif">
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Households saving like it's 1985

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Despite an overall increase in mortgage arrears rates over the first half of 2011, Australian households are coping well with current debt levels, says the RBA.
After broadly levelling out in 2010, mortgage arrears rates resumed their upward drift over the first half of 2011, the central bank reported in its Financial Stability Review.
By loan value, the share of non-performing housing loans on banks’ balance sheets increased to 0.8% in June, from 0.7% in December 2010.
The upward movement was also evident in the monthly data on securitised housing loans, with the 90+ day prime arrears rate up about 12 basis points over the same period, to 0.7%.
<img src="/images/stories/nonperformingloans.gif">
But the bank says mortgage arrears are “still low by international standards, and the bulk of housing loans in arrears are well collateralised,” the RBA says.
According to the RBA mortgage arrears are unlikely to rise as much as they have in some other countries, where arrears have risen sharply due to high unemployment or “an excessive easing in lending standards in earlier housing price booms”. 
Seven key reasons for Australian households’ arrears resilience can be extrapolated from the RBA review:
<ol>
<li>Housing prices in Australia did not grow especially rapidly in most parts of the country in the period since 2004, although Queensland and Western Australia were exceptions at various stages. </li>
<li>The decline in housing prices recently has been modest compared with the sharp downturns seen in some cases overseas. </li>
<li>Even before their tightening in 2009, lending standards in Australia had not eased as much as in some other countries. </li>
<li>The near-absence of sub-prime housing loans in Australia relative to the US.</li>
<li>Australian lenders also assess mortgage serviceability at higher interest rates than those prevailing at origination, a practice not always followed overseas. </li>
<li>A large share of mortgage borrowers in Australia make excess repayments. This increases the resilience of households to shocks, relative to countries where it is less common to do so. As well as providing a cushion against changes in borrowers’ financial circumstances, excess repayments increase the distance between the remaining loan balance and a property value that could be lower in the future, making negative equity positions less likely. </li>
<li>The labour market in Australia is in better shape than in many other countries, and its prospects are also more favourable given the macroeconomic outlook.</li>
</ol>
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Seven reasons households are well placed to deal with mortgage stress: RBA

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The recent financial turmoil appears to have played most heavily on the minds of first-home owners, according to a new survey commissioned by Mortgage Choice.
Two-thirds of first-home owners reported increasing their savings over late August and early September – soon after global share markets dived over overseas debt fears – the 2011 Saving &amp; Spending Insights Survey found.
Investors were not far behind when it came to saving for future unforeseen circumstances, with 63% creating a bigger buffer followed 57% of home buyers and 56% of “investor/home buyers”.
Overall, 83% of the 1,009 mortgage holders surveyed said they had saved money in the past year, with repaying the mortgage more quickly (45% of respondents) the second biggest reason after saving for a holiday (53%).
More than a third (37%) said they were saving for unexpected changes to their finances.
The survey found that a quarter of respondents were putting aside more than 20% of their after-tax income, almost double the current household savings rate of around 10.5%.
“It’s uplifting to see that despite facing a hefty interest rate increase last November, rising living costs and a flood levy, the vast majority of Australians with a mortgage managed to save money over the past 12 months in addition to meeting their repayments,” says Mortgage Choice spokeswoman Kristy Sheppard.
“Recent turbulence in financial markets is clearly influencing borrower attitudes to saving, but although they recognise the need to save for a rainy day, letting their hair down with some time away from work is even more important.”
Remarkably, about 34% of borrowers do not know their interest rate, with first homeowners the most likely to not know (39%).
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First-home owners inspired to save by economic turmoil: Mortgage Choice

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As we look to what's ahead for 2012, Property Observer is republishing some of our most noteworthy stories of 2011.
January 2012 update: All three businesses and associated properties mentioned below remain up for sale, according to online business for sale listings.
An original colonial-style manor house and accompanying boutique hotel business in the Port of Strahan in Tasmania is up for sale and expected to sell at a significant discount to its valuation.
Franklin Manor is rich in colonial heritage and village charm. It was built in 1896 and is the original residence of the Strahan harbour master, Captain Edward T. Miles, who named it Moana.
Miles was sacked after attempting to secure a tender for construction of the harbour breakwater for his son, but later rose to the position of state minister for public works.
The property as well as the hotel business is being sold by John Blacklow from Knight Frank Tasmania. 
Blacklow tells Property Observer he expects the freehold property and business to sell for “well under” the $1,715,000 million government valuation. 
“We had a written offer for the property in 2007 for $2.3 million, so that shows you the capability,” he says. 
Franklin Manor is built on 9,652 square metres of land and was totally restored in 1989. 
It includes 14 suites, lounge, sitting room, function room, licensed restaurant, honour bar, underground wine cellar, separate managers’ residence and staff quarters known as “The Stables” (comprising four units). 
Strahan is on the northern end of Macquarie Harbour and has about 700 residents. 
It is one of the most visited tourist destinations in the state after Port Arthur and Cradle Mountain. 
Its key attractions are wilderness cruises down the Gordon River and the West Coast Wilderness steam railway, which links the tiny fishing village to Queenstown. 
“Ideally it would suit an owner-operator. It’s a good residence for families,” Blacklow says. 
The property and business have been on the market for just over two weeks and interest to date has come mainly from the eastern seaboard of the mainland. 
Franklin Manor is one of six tourist businesses up for sale in Strahan. 
Also up for sale is the 18-guest bedroom Gordon Gateway Motel freehold and business, with Hospitality Property Brokers Bowral marketing it for $1.98 million, and the Sharonlee Holiday Villas featuring 11 units being marketed by Best Properties La Trobe with an asking price of $1.3 million. 
Blacklow says the Strahan market has been slow for a couple of years in keeping with general trends in the overall Tasmanian market.
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Tasmanian trophy tourism offerings abound in slow market

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The Greater Building Society has cut its one year fixed-rate mortgage to 5.94%, well below that of the some of the major banks.
The rate is nearly 1% lower than Westpac’s one-year fixed rate (6.89%) and 0.45% lower than ANZ’s (6.39%) offering, currently the best one year rate of the Big Four banks.
The building society has also reduced its three-year fixed home loan rate to 6.35% per annum
Customers with a Greater fixed loan revert to the building society’s lowest (basic) standard variable rate (currently 6.94% per year) once their fixed rate period ends.
Product manager David Bryde calls the practice of taking consumers from a fixed rate to a high standard variable rate “the revert rort”.
“Having a fair revert rate as well as low fees and charges is why our comparison rate is so much lower than our competitors even when our headline rates are similar,” he says.
The Newcastle-based building society has 250,000 members across 66 branches in NSW, southeast Queensland and in Townsville.
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Greater Building Society fixed-rate home mortgage undercuts major banks

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Andrew Wilkie backed the Gillard government on the proviso that it would support his poker machine legislation, which now looks like never seeing the light of day. Independents Tony Windsor and Rob Oakeshott wanted a tax summit, which was supposed to be convened by June 30, 2011 – (better late than never) it will now be held over October 4 and 5. The taxing topics for discussion are state taxes, business tax, personal tax, social and environmental taxes and governance of the tax system. The federal government ducked and weaved on whether the GST would be included in the discussions, as too the proposed mining tax.
Yet again the 135 recommendations contained in the Henry review will be regurgitated, although the government had previously rejected them all – or let’s say conveniently placed in the “too hard basket.” Henry noted in his review that “Australia has too many taxes and too many complicated ways of delivering multiple policy objectives through the tax transfer system.”  In a nutshell Henry suggested just four tax bases: personal income, business income, private consumption and economic rents from resources and land. For this to eventuate: payroll, stamp duty, insurance, superannuation contributions taxes and income taxes on all pensions, allowances and benefits would be abolished.
Windsor suggested that the GST should rise by 1% to allow 115 “inefficient” taxes to be abolished but let’s not forget that when that GST was introduced in 2000 the platform was these “inefficient” taxes would be abolished – that promise never saw the light of day. Mr Windsor and fellow crossbencher Tony Crook also called for the GST to be closely examined at next month’s forum given Treasury warnings that the tax has now become increasingly inefficient.
It is clearly evident today that consumers are taking advantage of the high Australian dollar and spending much more via online tax-free items. Back in 2000 the government could be excused for not embracing this conundrum, but a decade on consumers moved their retail consumption to online models where today, retail in Australia is struggling to survive given it simply can’t compete.
So why, does the GST still remain a notable absentee from the forum’s discussion papers? A tax forum for –um, nothing, it would appear.
It is inevitable that our GST rate will eventually be increased to probably 12.5% given New Zealand has lifted its rate from 10% to 12.5% and it is now 15%. Britain will move its GST to 20% from January 2012. Lifting the GST to 12.5% would raise an extra $12 billion, climbing to $15 billion in three years’ time.
Treasury is forecasting exclusions from the GST this year to be $18.3 billion – of which $5.9 billion is because there is no GST on most food – and it reports that this will surge to $22.3 billion by 2013. As a direct result of these exclusions there is less available to the states and territories for crucial infrastructure spending – which is blatantly obvious today.
Australian Treasury head <a href="https://www.propertyobserver.com.au/tax/stamp-duty-still-unpopular-at-treasury-post-henry/2011092351665" target="_blank">Martin Parkinson has backed a move to wind back or abolish real estate stamp duties</a>. Parkinson noted that stamp duty (NSW property buyers paid $3.9 billion last year) makes buying and selling houses more expensive.  The Australian Housing and Urban Research Institute (AHURI) believes that by abolishing stamp duties in favour of a broad-based land tax – as suggested in the Henry review – would reduce land prices by up to 10%.
According to the National Housing Supply Council, Australia currently has a cumulative net shortfall of 200,000 dwellings (and growing annually). Housing in Australia this has become the biggest cost of living issue for Australians to such an extent that it is now a crisis – otherwise known as housing affordability.
In May this year the Australian government released a new national urban policy, Our Cities, Our Future to industry support. The only problem is this urban policy just like the Henry Review will also be filed in that congested too hard filing cabinet. In the last 10 years <a href="https://www.propertyobserver.com.au/residential/house-prices-outstrip-income-nearly-three-fold-affordable-housing-group/2011091951592" target="_blank">house prices have risen by 147% while incomes have risen by only 57%</a> and in the last five years rents have risen at twice the rate of inflation. In Sydney, it now takes 8.1 times the average income to afford the median house, up from 5.6 times in 2001.
Last week the Australians for Affordable Housing (AAH) reported that new home starts in NSW have plummeted 20.1%, which was worse than the 16.3% recorded earlier this year by flood-hit Queensland.
So I wouldn’t hold out for next week’s tax forum achieving anything so long as the GST is excluded from discussions.
Last week, an article in The Australian, “<a href="https://www.theaustralian.com.au/news/opinion/another-chance-on-tax-policy/story-e6frg71x-1226141172285" title="The Australian" target="_blank">Another chance on tax policy</a>”, noted: “The summit still looks like an exercise in tax reform avoidance rather than engagement with a policy area that is so central to prosperity.”
Yes – it is all for – um, nothing, just like the Henry Review was all for – um, nothing. But it will keep two independents happy and the government can’t afford that type of avoidance. 
Robert Simeon is a director of <a title="RWM" target="_blank" href="https://www.rwm.com.au/">Richardson  Wrench Mosman and Neutral Bay </a>and has been selling residential real estate in Sydney since 1985. He has also been writing real-estate blog <a title="Virtual Realty News" target="_blank" href="https://www.rwm.com.au/news/">Virtual Realty News</a> since 2000. The RWM real estate model has sold in excess of $1 billion in database sales globally.
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robertsimeon-hRNTwJyXkQ

Tax summit is much ado about nothing

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What's in store for the property market this spring?
It all depends on which geographical and price segment you're in and it depends on what happens to consumer sentiment as that seems to be driving people as to whether they buy or not. For those investors buying in the median-priced inner-city areas, nothing has really changed financially since late 2010/early 2011, but all that demand has been whittled away with general negative thoughts on the economy and has led to most investors sitting on the fence.
They all seem to be sitting on the fence waiting for something to happen one way or the other, and it's always easy to make no decision rather than a decision. As a buyers agency we struggled to buy property in Januar and February, as prices paid were way over the top. July was very quiet but August brought in a lot more cashed-up buyers and September seems the same. Nothing has changed in the buyers' minds, they just seemed more ready, and some of these buyers have saved $700,000 in cash or have been pre-approved to $1.5 million and are looking at buying a couple, so it's not that they're struggling financially.
Spring is often a good time for real estate, sellers are keen to put their properties on the market as the warm weather hits and buyers shrug off the winter blues. We all know the property market moves in cycles and after sitting on a cold fence for the winter I think we'll see more buyers think it's time to jump down and make the most of the reduced demand. No matter how you look at it, if you're a long-term investor this reduced demand has got to mean better buying opportunities. 
How to prepare a house for sale
 The best house doesn't necessarily get the top price, it's the best prepared house and the best selling campaign with the best agent that gets it. There's a reason why the TV shows and the best real estate agencies spend time and money renovating and styling homes - it's because it works. Simply restyling a home can make a 5% to 10% difference to the sale price and you don't necessarily have to spend that much money or have exceptional renovation skills to make those changes.
It's often the simplest and cheapest things that give it the biggest wow factor. If you want to sell your property for the highest possible price you need to identify and understand the demographic that's most likely to purchase it. You then need to highlight your properties most appealing features and fix any features that detracts from that image. 
The simplest and cheapest things to work on first are: paint, carpet, re-polish floors, change light fittings and power points, kitchen cupboard doors (if the carcass is solid), re-enamel/re-paint bath and tiles, replace taps, mow the lawn, put in some plants, paint the front door and garden fence. Be wary of replacing kitchens and bathrooms with a family home as it may not be to the taste of the buyer and they won't want to pay to replace it if they think they've already paid for a new one in the purchase price. If you're selling an investment property it's a great thing to do as long as you stick to neutral palettes. 
Simple styling tips start from a major de-clutter as most people have too much 'stuff'. Depersonalise it by removing 99% of the family pictures and ornaments. Buyers need to see that it could be their home but you still need to show that it is a home rather than a bland project home. Unless you're a part-time interior designer, you may as well leave it to the professionals and bring in their professional items - it often only costs a few thousand dollars. Consider moving before the campaign and defintely don't be around for open inspections. Buyers spot you a mile off, it puts them off, makes them feel uncomfortable and they will move on to the next house. 
Picking the right agent is just as important as styling and renovating your property. The lowest commission might well get the lowest price so choose your agent on skills and personality, not on price.
You can't sell a secret, so spend some money on letting people know you property is for sale and what benefit it may offer. When it comes to the day of auction, the auctioneer is the one that will make you smile or make you cry and so as much due diligence needs to be put into them as choosing the agent. A good auctioneer can get the auction off to a competitive start and a few extra bids at the end can add tens of thousands to your sale price.
Chris Gray is CEO of <a target="_blank" href="https://www.yourempire.com.au/">E</a><a target="_blank" title="Empire Property Portfolios" href="https://www.yourempire.com.au/">mpire Property Portfolios</a> and a regular TV commentator. 
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