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.

&nbsp;

&nbsp;

&nbsp;

&nbsp;

&nbsp;

[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

<html><body>
Agents can often be reticent to provide an accurate valuation of a property they are selling. However, here are four tips for ascertaining how much you should offer.
1. Request the comparable sales data the agent relied upon to determine their opinion of value.  Whilst the agent may refuse your request based on client confidentiality, it has far greater meaning than the irrelevant sales data agents often hand out at inspections.  Confusing? Absolutely!  That is why they are summarised as relevant, not comparable. 
2. Contact the agent’s competition and seek their opinion of what the property is worth.  Most vendors call in at least two agents, so it is logical other agents have presented their sales proposals to the vendor.  What’s in it for the losing agent to discuss values with you?  Goodwill, particularly if you have a house to sell. The prospect of an appraisal is a great trade-off, and the information you get could be crucial. 
3. Ask the question, what does the agent really think the property will sell for?  Don’t ask them in the first week as they will not have had the opportunity to do any buyer follow up. But at the end of the second or third weeks of the advertising campaign (a campaign usually runs for about four weeks) a good agent will know or have a really good idea what the property is going to sell for based on qualifying questions he asks buyers including any offers they received.
Just as an aside, did you know that if you submit an offer in writing to the agent, even if they advise you that the property is going to auction, they must reflect that offer in the price they are quoting, and submit your offer to the vendor.  What frustrates most buyers is the flat line response to the question:  Is there a price the vendor would sell for prior to auction?  You would think that if the vendor was fully informed from the beginning there is a possibility that a sale could be concluded…. 
4. Establishing how much prices exceed the vendors reserve price at auction can provide an important indicator of the final price, the form guide I call it.  Most agents discuss internally how much certain properties sell above the reserve to gauge how much the market is rising. For example, if a house sold for $1 million on a reserve of say $800,000, and the price being quoted was $730,000 plus, then it is possible to predict potential blow outs of other like properties. Be prepared !
Warwick Brookes is the president of the <a target="_blank" title="Real Estate Buyers Association of Australia" href="https://www.rebaa.com.au/">Real Estate Buyers' Association of Australia</a>.
</body></html>

wbrookes-pAy8kPmjSt

Four tips for getting an accurate property valuation

<html><body>
Consumer group Choice has no plans to launch a mortgage broking service, according to chief spokesman Christopher Zinn.
“We are not getting into mortgage broking, but we are looking at the possibility of financial advice,” Zinn has told Property Observer.
“We are interested in entering a number of markets where there is room for consumer benefit.
“We believe there is a great need for a trusted independent brand which can deliver cost-effective, reliable financial advice.
“Our role is to steer people in the right direction to make the right decisions. This might not mean doing it ourselves, but partnering with providers.”
Zinn says Choice can only earn remuneration which is conflict of interest free and “product-neutral”.
Zinn clarified Choice’s future plans following a confusing and erroneous report in the Australian Financial Review that said Choice was planning to offer financial advice and take on the mortgage broking industry.
Licensed mortgage brokers are not allowed to provide financial advice but can only recommend credit products.
Choice has already ventured into a quasi-mortgage broking space via its One Big Switch campaign in partnership with Lachlan Harris, former press advisor to Kevin Rudd.
<a target="_blank" href="/news"> The scheme aims to source better home loan offers for about 40,000 borrowers who have signed up but has to date not made any offers</a>.</body></html>

lschlesinger-FZcF9M3vE6

Choice denies plans to offer mortgage broking

<html><body>
Reports that the major banks are unwilling to finance loans for properties that qualify for the government’s national rental affordability scheme (NRAS) are exaggerated, according to specialist providers.
Paul Thewlis, managing director of Onyx, which sells, finances and provides legal services for properties that qualify for the NRAS scheme, says the information contained in a leaked building blacklist document are a “distortion”. “This information is a year out of date,” he says.
The<a target="_self" href="https://www.propertyobserver.com.au/news/bank-s-blacklist-bans-finance-for-373-buildings/2011091251504"> document leaked to the Fairfax press</a> dates back to “late 2010” and highlights the major banks’ alleged reluctance to finance NRAS properties, with The Age reporting that “most other banks have also refused to finance investors or buyers for NRAS properties, apart from St George, which accepts borrowers for one project in Queensland”.
Charity group Mission Australia <a target="_blank" href="/news">slammed the bank's purported reluctance to lend to purchasers of some NRAS buildings</a>. According to Thewlis, two of the major lenders – NAB and Westpac (including its subsidiaries RAMS and St George/Bank of Melbourne) – along with other financiers including Adelaide Bank, Firstmac and The Rock Building Society provide NRAS financing.
“In August last year, Westpac said no. Now they have the most extensive policy in relation to NRAS,” he says. 
In March this year, Westpac sent a note to mortgage brokers notifying them the bank was expanding the number of approved NRAS property management consortiums from one in Queensland to six, comprising three more in Queensland and two in Western Australia. 
Previously, the bank would only approve loans for properties managed by the Queensland Affordable Housing Consortium. 
“The banks are gradually getting on board with NRAS. The finance industry is conservative. They want to fund NRAS deals, but because they don’t know much about it they believe it’s something to worry about,” he says. 
Jo Brown from NRAS Real Estate based in Sydney agrees with Thewlis that the banks are getting on board with financing. 
She says the two banks that currently do not provided NRAS financing – ANZ and the Commonwealth Bank – are working on entering the space. 
“They don’t have NRAS policies yet, but they are working on them,” she says. 
Brown says buyers of NRAS properties are “normal investors” who seek properties with neutral or positive cash flow in good areas. 
“Tenants are meticulous and really treasure their properties. They are less work than normal tenants,” she says. 
Mortgage broker and realtor Tim O’Shea’s experience with the major banks on NRAS deals has not been as fruitful as Onyx or NRAS Real Estate. 
O’Shea, who is principal at the Da Vinci Property Group based in Runaway Bay, Queensland, says in his experience Westpac (and subsidiary brands RAMS and St George) is the only major bank to provide NRAS financing. 
A Westpac NRAS policy document dated September 2010 says the bank requires a 30% deposit from borrowers unless the loan comes with lenders mortgage insurance, which then raises the maximum loan-to-valuation to 87%. 
The bank does not take into account tax incentives associated with the NRAS when determining serviceability assessments. 
O’Shea says penalising NRAS borrowers with high deposit requirements makes no sense. 
“It’s a very backward approach. The chances of the property being vacant are nil given the discounted rents,” he says. 
O’Shea says his discussions with the Commonwealth Bank suggest it is keen to get involved in NRAS financing and is looking to develop a policy. 
A spokesperson for NAB confirmed the bank does “finance individuals to purchase properties built under the federal government's NRAS”. 
A spokesperson for ANZ says: "We currently do not finance investment properties built under the federal government's National Affordability Rental Scheme, but we’re currently looking at ways we can support government initiatives to house low-income earners."
Property Observer is awaiting responses from Commonwealth Bank.</body></html>

More banks lending to properties in NRAS affordability scheme

<html><body>
The Strickland House estate, also known as Carrara, set on the Vaucluse harbourfront in Sydney’s east, seems set for an expanded heritage-listed curtilage.
The Heritage Council of NSW has proposed extending the property’s listing by including a large area adjacent to the Vaucluse Road boundary and Nielsen Park, which has entrance gates, garden, and tiled 1930s Neo-Georgian former dormitories.
Woollahra mayor Isabelle Shapiro has welcomed the move, which comes 21 years after Strickland House’s initial heritage listing.
“I applaud the Heritage Council of NSW for making a commitment to preserve this magnificent site for future generations,” Shapiro says.
“Retaining an appropriate area of land around a heritage item is an important step in protecting the properties heritage value and significance.”
Strickland House is a 1850s marine villa with a largely unaltered landscape setting.
The five-hectare land parcel closely reflects the original subdivision from the land grant made to pioneer settler William Wentworth in the 1830s.
It contains buildings landscaping and other structures relating to the history of the site from Aboriginal ownership through its colonial history as a grand maritime estate to its 20th-century use as a convalescent home and later aged-care facility.
The original Victorian Italianate mansion, Carrara, remains essentially intact, with the two-storey residence constructed of dressed sandstone walls and an attic storey made of timber.
John Hosking substantially developed the grounds of Carrara. Subsequent occupants including Henry Moore and members of the Allen family, leading political figures in the 19th century.
The original villa, Carrara was built in the 1850s in a large landscaped setting, including a strong relationship between the house and the water. The two-storey segmental bay projection is striking and represents a relatively early use of such a feature. The remnants of the sandstone wharf adjacent to Milk Beach contribute to the strength of this association.
The proposal is supported by Woollahra Council, the Woollahra History and Heritage Society, with a final decision not expected for a number of months.
</body></html>

jchancellor-FAypfDUnLy

Strickland House to get expanded heritage curtilage

<html><body>
Lufthansa is the latest international airline to snap up prime CBD office space in Sydney, according to Ray White’s commercial division. 
Germany’s national carrier has secured a five-year lease for approximately 320 square metres of office space at 189 Kent Street, Sydney, near Wynward Station. 
Real estate listings show offices up for lease in the recently refurbished 15-storey building at gross rentals of between $380 and $450 per square metre. 
Lufthansa was previously based at 143 Macquarie Street, also in the Sydney CBD. 
“We understand Lufthansa's Kent Street office may also accommodate business travel payment company Air Plus International,” says Ray White commercial office leasing director John Skufris. 
“[The building] offers a brand-new foyer, near-new passenger lifts, sweeping city views, shower facilities and availability of basement parking,” he says.
The Lufthansa lease follows Qantas, Air Pacific and Eva Air all seeking new Sydney CBD premises over the past 24 months. 
Other airlines to take up space this year in the CBD include Japan Airlines and Nippon Travel, which both moved to 22 Market Street. 
Singapore Airlines is expected to sign a deal to take up 1,500 square metres of space in the Sydney CBD in 2012. 
Qantas moved from Bridge Street retail to office space, while Eva Air relocated to the city from Mascot. 
Ray White Commercial's Anthony Harris says the airlines recognise the convenience of the CBD location. 
“Airlines also have less need for a retail presence as so much of their business nowadays is online,” he adds.
</body></html>

Airlines flying high in Sydney CBD office space

<html><body>
{yoogallery src=[images/stories/september16kalula]}
Kalua, the plantation-style Palm Beach trophy home on Sydney's northern beaches millionaires’ playground, has been listed for sale with record setting $25 million-plus hopes.
It’s best known as having been the prestige Christmas holiday rental for international luminaries including Nicole Kidman, John Cleese and James Murdoch.
The 1920s Ocean Road property has only had the two owners. It was last sold by the Horden retailing family to the more entrepreneurial Joye family, the current vendors, for $330,000.
It’s a five-bedroom, six-bathroom house, three-bedroom guesthouse along with studio cabana, pool and tennis court on its 5,500-square-metre dress circle block overlooking Cabbage Tree Boat Harbour.
It has been listed by Ken Jacobs at Christies International in conjunction with LJ Hooker Palm Beach agent David Edwards.
They have been instructed to sell it offering purchasers the opportunity of taking 60% vendor financing.
"Unquestionably the most significant and coveted landholding in exclusive Palm Beach, Kalua is a beachfront sanctuary of international stature beyond compare," Jacobs says.
"It is secluded amid magnificent sprawling grounds … a once-in-a-lifetime opportunity as one of the eastern seaboard’s most prestigious residential offerings," Edwards adds.
Kalua was one of the first properties in Palm Beach guaranteeing its historical significance. Folklore has it that the Hordern family sent their architect by sea to Oahu, Hawaii, to copy “stick by stick and stone by stone” the impressive Dillingham plantation residence.
It was subsequently named Kalua, meaning “double” in Hawaiian. At the time of construction there were no roads into Palm Beach so all materials, including soil, had to be barged in from Newport.
By coincidence the vendor, businessman Ian Joye now spends much of his time in Hawaii.
<a target="_blank" href="https://www.propertyobserver.com.au/residential/a-rising-tide-lifts-all-luxury-yachts/2011062950650">Palm Beach's top sale was $15 million, when businessman Doug Shears bought a beachfront on the Pittwater side of the peninsula.</a>
Sales of prestige Palm Beach listings have ranged from $4800 per square metre to $13,000 over recent years.
</body></html>

Hordern family's 1920s Hawaiian hideaway on the market with Palm Beach record-setting hopes

<html><body>
Australian property group Dexus has leased more than 500,000 square metres of warehouse rooftop space in California for use in the provision of solar power, the biggest project of its kind in the US.



The 513,588-square-metre deal has been struck with electricity provider Southern California Edison and will run for 20 years.



SCE will install a solar power system encompassing approximately 36,000 solar panels. At peak generating capacity, the rooftop solar station will generate up to 10 megawatts (DC), enough power to serve approximately 5,200 homes in southern California. 



The new solar station will be part of a network of solar plants SCE is building through southern and central California. 



Electricity generated by these installations will be transferred directly into the neighbouring SCE energy grid through more than a dozen groups of inverters and transformers built alongside the building. 



Victor Hoog Antink, CEO of Dexus Property Group, says the project underscores the group’s commitment to corporate responsibility and sustainability. 



“The new lease will unlock further value with the Dexus distribution centre to now host two tenants: SCE on the rooftop and Whirlpool within the building it has occupied since 2008,” he says.



Tom Catania, vice president of Government Relations for Whirlpool Corporation, says he expects the warehouse to “soon include the next generation of sustainable appliances, namely ‘smart’ appliances that can receive and respond to a smarter and greener electricity grid”.



Construction on the solar panel station is planned to commence in late 2011 and the station is expected to be online and serving SCE customers in 2012. 



The California state government requires that a third of electricity come from renewable sources by 202o.
</body></html>

California solar panel leasing deal sets bright warehouse leasing record

<html><body>
Investors are being sought to buy half of the Caroline Chisholm Centre in the ACT, the five-storey national headquarters of the Department of Human Services.
The half share is expected to fetch between $90 and $100 million, with the sales process being handled by Jim Shonk and John Marasco from Colliers International. 
Shonk and Marasco are acting under the instruction of receivers at KordaMentha. 
The half share listed for sale was owned by failed property trust and Allco subsidiary Record Realty, which was placed in receivership in September last year. 
 
At the height of the last equity and property booms Record Realty was worth more than $2 billion. 
Shonk told Property Observer he expected the half share to find a market from either local institutional investors or offshore institutional investors in Asia or Europe. 
It has a passing gross rental of $17,092,023 for the 100% interest, with over $1 million coming from car parking fees.
The building is situated in Greenway, ACT, within the Tuggeranong Town Centre on the Corner of Athllon Drive and Soward Way. 
It is a premium-grade five-storey office building with more than 40,000 square metres of office space on a 5.35-hectare site, all occupied by the department.
It was purpose-built in 2007 as the department’s national headquarters. The government is also the anchor tenant of the Tuggeranong Town Centre, 25 kilometres south of the Canberra CBD.
The complex includes around 1,100 car spaces, conference facilities, auditorium, amphitheatre/TV studio, gymnasium and café with commercial kitchen. 
The federal government has signed an 18-year lease expiring July 4, 2025, plus two further option periods of five years each. 
The property is “unexpired residue of a Crown Lease for a period of 99 years.
from 26 June 2002”, effectively a lease in perpetuity, with a statutory right to take up successive further 99 year terms, at no cost other than an application fee, currently about $2,500. 
The other half is held by Singapore-based Frasers, which acquired it in June 2007 for $108 million and forms part of its commercial property trust. 
The building is being sold by expressions of interest closing October 21.
</body></html>

Another Allco asset on the sale block

<html><body>
Sydney’s September auction clearance rate sits at 54% from the 850 auctions held so far among the month’s 2,350 scheduled auctions, but the latest week’s success rate was under 50%.
There are 440 Sydney auctions this weekend, which is 20% fewer than the same Saturday last year, but the same number as in 2009.
There were 300 auctions on the third Saturday in 2008, according to Australian Property Monitors, as the global financial crisis triggered inactivity.
By comparison since 2008 the same Melbourne weekends had 600, 850, 750 and this weekend 650 scheduled auctions, according to APM research analyst Clinton McNabb.
There are 13 weekends remaining for auctions this year and, unless there is a substantial improvement or deterioration, it looks reasonably certain that the year will end with a clearance rate in the 50s.
“For Melbourne the last time this occurred was in 2004, when a clearance rate of 57% was recorded,” says the Real Estate Institute of Victoria’s Enzo Raimondo.
“This is the only similarity with that year, as there will be about 40% more auctions this year.”
Three years ago, in 2008, the clearance rate was marginally higher at 63%, and the volume of auctions similar to what is expected this year, according to the REIV.
The REIV says last weekend Melbourne had 616 auctions and a 54% clearance rate.
There was a close correlation between consumer confidence and housing market activity, according RP Data head of research Tim Lawless.
“The importance of a positive consumer mindset is simple: for a prospective buyer to make a high commitment purchase decision like buying a home they need to have a base line level of optimism about their job security, their ability to service a mortgage and the prospects for the housing market.
“The trend in consumer confidence and national sales volumes has shown an 84% correlation since the start of 2008,” Lawless suggests.
<img src="/images/stories/lawlesssept161.jpg" style="border-style: initial; border-color: initial;">
He says there is also a lagging correlation between mortgage rates and consumer confidence (see graph below) as generally when interest rates are falling consumer confidence will show an improvement and vice versa.
 <img src="/images/stories/lawlesssept162.jpg" style="border-style: initial; border-color: initial;">
Lawless notes the August Westpac and the Melbourne Institute Index is getting close to the lows seen back in late 2008 when the GFC was in full swing.
“The September figure, which came through earlier this week, showed an 8.1% improvement in the confidence index, perhaps marking the turning point for this important indicator,” Lawless says.
“The ‘Time to Buy a Dwelling’ Index, which is a subset of the Consumer Sentiment Index showed a strong bounce over September, improving 14.3% over the quarter and 16.4% over the year.
“This component of the index has bounced back to levels not seen since September 2009, the month prior to interest rates commencing their tightening cycle.
 <img src="/images/stories/lawlesssept163.jpg">
Lawless suggests interest rate stability and the prospect of rates potentially falling may cause confidence to continue to improve.
“If the cash rate does actually come down, as the financial markets and a growing number of economists are expecting may be the case, we may see a more significant improvement in the consumer sentiment data when it is released each month.”
But he warns on balance any significant or swift rise in consumer optimism was likely to be tempered by any further softening in labour market conditions or deterioration in global/local economic conditions.
“Uncertainty surrounding both these factors is likely to continue to provide some counter balance to improvements in the consumer mindset.”
</body></html>

Auction clearance rates still low, but consumer confidence picking up

<html><body>
After years and years of the battle, finally we see consumer affairs and the tenant’s union get their own way.
On September 1, 2011, new legislation commenced that has changed the way tenancy databases in Victoria will operate forever. For years now we have seen on media portals such as A Current Affair and Today Tonight all the terrible stories of real estate agents and how they “blacklist” tenants from obtaining another rental property in the future.  When in fact before September 1, 2011, the databases were not “blacklists” – they were actual databases. They contained records of millions of people who have rented over the last 20 years, and the databases allowed a property manager to record one of the following;
<ul>
<li>Current tenants</li>
<li>Previous tenants</li>
<li>Recommended tenants</li>
<li>Judgment / court order</li>
<li>Left owing in excess of the bond</li>
<li>Irregular payments</li>
<li>Broke conditions of lease</li>
<li>Abandonment </li>
<li>Unclaimed monies</li>
</ul>
But now things have changed.
The databases now only allow us to place a listing against a tenant for the following reason:
<ul>
<li>The tenancy has ended AND
</li>
<li>A possession order has been granted OR
</li>
<li>An order of a breach that includes the words “rent arrears” OR
</li>
<li>The person owes the landlord an amount that is more than the bond OR
</li>
<li>An order of a breach that includes the words “damage to premises” or “malicious damage”</li>
</ul>
Furthermore, the listing is only valid for a maximum period of three years.  Previously the listing would remain for seven years.
Like with all new legislation it will be monitored over the next six to 12 months and perhaps reviewed, and in the world of property management we will learn to work with the changes to the legislation accordingly.
I suppose the most disappointing part is for years the media and public have pushed for the removal or banning of these so-called “blacklists”. As property managers we no longer have the opportunity to create a positive listing on a wonderful tenant, or make a listing on someone who made irregular payments throughout their tenancy, or someone broke their lease conditions yet received a full bond refund. This was the whole point of having a tenancy database, yet what has now been created is a database of people who owners and property managers probably won’t want to rent to.
Leah Calnan is the director of <a href="https://www.metropm.com.au/" title="Metro Property Management homepage" target="_blank">Metro Property Management</a> in Victoria and is the chairwoman of the REIV Property Management Chapter.
</body></html>

Latest Expert Insights

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

Guides

Editor's Picks

Guides

Developments

New apartments

New townhouses

News

Latest Expert Insights

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

Guides

Editor's Picks

Receive the latest news stories to your inbox

Guides

Developments

New apartments

New townhouses

News