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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Cashed-up self-managed super funds are expected to develop an appetite for fixer-uppers following the release of draft rules that allow them to renovate properties they hold provided they don’t borrow the money to make the improvements. 
According to Aaron Dunn, managing director at The SMSF Academy, the draft ATO ruling has “many positive implications, in particular it allows trustees to use cash in the fund to improve an acquired asset”.
 
SMSFs with cash reserves are likely to find older properties in need of renovation more attractive propositions, Dunn says, while those funds that need to borrow to invest are likely to find newer properties, including those available off the plan, more attractive. 
Under the draft ruling released by the ATO, money borrowed by SMSFs under limited recourse borrowing arrangement (LRBA) provisions can be used not only to acquire a property but “also in carrying out repairs and maintenance to the asset whether necessary at the time of its acquisition or at a later time”. 
However, “no amount that has been borrowed by the SMSF trustees under the LRBA may be applied to improve the single acquirable asset”. 
If a trustee of an SMSF uses borrowed money to improve their property, they will contravene the rules covering LBRA provisions. 
The ATO provides examples to demonstrate the difference between repairing or maintaining a property and improving one: 
Repair or maintenance examples (borrowing allowed)
 
<ul>
<li>A fire damages a part of the kitchen (cooktop, benches, walls and ceiling). Restoration of the damaged part of the kitchen would constitute repair of what is a subsidiary part of the asset being the house and land. </li>
</ul>
<ul>
<li>The guttering on the house is replaced and the house is repainted. A fence is replaced. A fire alarm is installed to comply with new council requirements. This would be repair or maintenance. </li>
</ul>
<ul>
<li>A cyclone damages the roof of the house. Replacement of the roof in its entirety is a repair. </li>
</ul>
Improving examples (borrowing not allowed)
 
<ul>
<li>If the kitchen was also extended by extension of the house this extension would be an improvement. </li>
</ul>
<ul>
<li>The addition of a new pool or a new garage would be an improvement. </li>
</ul>
<ul>
<li>The addition of a second storey to the house at the time of also replacing the roof would be an improvement.</li>
</ul>
Rural property example
Repair or maintenance examples (borrowing allowed)
 
<ul>
<li>Replacing a section of the cattle yards or the existing fencing is a repair. 
</li>
<li>Ensuring the bores, windmills, tanks and troughs continue working is repair or maintenance. This would include laying new pipes between the tank and trough. 
</li>
</ul>
 
Improving examples (borrowing not allowed)
 
Each of the following additions is an improvement:
<ul>
<li>a new set of cattle yards; 
</li>
<li>a new bore, tank, windmill and trough; 
</li>
<li>a dam; 
</li>
<li>a further two kilometres of fencing. 
</li>
</ul>
 
Comments on the proposed ruling can be submitted up until October 28.
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lschlesinger-FZcF9M3vE6

Older properties take on new sheen for SMSFs following tax reno ruling

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<place><country-region>Australia</country-region></place>’s housing market has been given a reprieve, and likely rests at a crucial junction. Perversely, alongside cash investments, housing could prove to be a partial proxy for catastrophe insurance.
A year ago, many of the nation’s top economists were expecting that the RBA’s official cash rate would rise from 4.5%, where it was at the time, to between 5.5% and 6%.
In September 2010, Paul Bloxham was appointed chief economist for HSBC after having spent 11 years working at the RBA. Bloxham immediately junked the forecasts left by his predecessor, John Edwards, who now, ironically, sits on the RBA’s noard, and announced a new forecast of 5.75% for the end 2011 cash rate.
Had Bloxham proven correct, mortgage rates would be heading towards 8.8% today. Yet they remain a full percentage point lower.
According to the RBA, the official standard variable mortgage rate is 7.8%, which is only slightly above its 15-year average. The official discounted variable rate is just 7.05%. And in the past month or two, the cost of fixed-rate home loans has crashed, with deals as low as 6.35% now available from the likes of Members Equity Bank.
As it turned out, we have only suffered one official rate hike, in November last year, notwithstanding that the big banks saw fit to add another 0.2 percentage points to the RBA’s increase to deliver a de facto double hike.
A related dynamic asserting itself in <place><country-region>Australia</country-region></place>’s housing market has been the “hawkish” Australian consumer. Borrowers have been acting as if they were certain to get slammed by another two to three rate increases, according to Westpac-Melbourne Institute survey data.
As late as August this year, about 29% of all people were still banking on four or more hikes. The net effect of all these “phantom hikes” was to place a heavy clamp on housing demand.
As UBS’s Matt Johnson put it, the cost of capital in the housing market was starting to look like it would exceed the projected returns.
There have been at least four important developments that have pushed Australia’s interest rate cycle off course, and which may mean that the housing market is about to turn a corner. The first I want to talk about arrived yesterday.
The Australian Bureau of Statistics released revisions to its recent inflation numbers that have quite materially altered the previously understood inflation dynamics.
This was an unusual innovation: the ABS ordinarily never revises its CPI estimates, for good reason (wages are determined on the basis of these findings).
However, the ABS will, as at the date of the next inflation release, adopt a new methodology to “seasonally adjust” its inflation numbers. So yesterday it showed us the impact of the new method on past releases.
In summary, the long-term “core” or “underlying” measures of inflation were revised slightly higher. More latterly, the final 2010 quarter estimate was upgraded. The first quarter of this year was unchanged at 0.85%. But, crucially, the surprisingly high second quarter core inflation result for 2011 was materially downgraded from 0.9% to 0.6% (the year-on-year core inflation outcomes were similar).
At face value, this quite significantly changes one’s conclusions about the current inflation trajectory. Before we get too excited about the prospect of a benign inflation environment, we will need to wait until next week when the ABS unveils yet another round of revisions. Some commentators have speculated that these may generate further downgrades.
The bottom line is that core inflation in the first half of 2011 is now believed to have been running at a (still high) 2.9% pace rather than the ABS’s much stronger 3.4% plus rate.
This is good news for the housing market. If these numbers are not perturbed by additional ABS adjustments, it means that the RBA has more time to sit pat and watch how things unfold. If the third-quarter inflation numbers that are published in late October print low, some of the major obstacles to the RBA reducing rates will have been removed.
As I showed in Tuesday’s column, the financial markets are now predicting that we will have five to six rate cuts by July next year. Many credible institutions, like AMP, Goldman Sachs, Deutsche, Macquarie and Westpac, all think the next move in rates will be down. This is starting to feed back into consumer confidence, which is the second major factor I want to canvass here.
Yesterday the market was surprised by a very robust rebound in the consumer confidence data back towards its historical average. There is little doubt in my mind that this is being motivated by a big shift in community attitudes around interest rates. Many people are starting to accept that rates will likely remain on hold for the foreseeable future. A much larger share now think rates will actually fall. And fewer are budgeting on the very high four-plus hikes documented previously.
The third development has been the rise in the unemployment rate from its low of about 4.9% to the current 5.3% level. While there are sound reasons to believe that the labour market is not as weak as this spike implies, it still has significant consequences for monetary policy. According to the RBA, the unemployment rate is one of its most valuable guides to future inflation.
The RBA had been looking for unemployment to slowly slide towards 4.5%. Alongside the inflation revisions, the recent slackening in <place><country-region>Australia</country-region></place>’s labour market affords much ammunition for those arguing that rates should be cut, or at least held at current levels.
The final dynamic worthy of mention is the offshore turbulence. Many smart observers think there is a real risk that Greece will, one way or another, exit the Euro zone and drop the common currency in favour of a new one. The argument goes that it is very likely Greece will default on its debts, which will mean net present value losses for the holders of those bonds—mainly European banks and the European Central Bank—of between 60 and 80%.
Rather than subject itself to the burden of external austerity conditions, Greece may choose to swap the Euro currency for a “New Drachma”.
The idea would be to then allow the New Drachma to depreciate significantly, and thereby make Greek goods much less expensive relative to their current prices. The problem with this strategy is, according to Euro experts, that it would almost certainly lead to the complete collapse of the Greek banking system, which would no longer have access to foreign or ECB funding. It would also perpetuate big losses across the European banking sector (hence the recent ratings downgrades by Moody’s), which could in turn compel these banks to ration credit to other borrowers. Over and above the extreme financial market volatility that a Greek exit from the Euro zone would invariably trigger, it would likely place more downward pressure on the already weak economic growth that prevails today.
More worryingly, experts believe that if <country-region>Greece</country-region> goes, this will boost the probability that the likes of <country-region>Portugal</country-region>, <country-region>Ireland</country-region>, <country-region>Spain</country-region> and even <country-region>Italy</country-region> or <place><country-region>Germany</country-region></place> follow. That is, the entire Euro zone could implode. UBS figures that this would lead to massive reductions in economic output across all nations and thus a deep regional recession, if not depression.
So while all of the above might still reside in the “lower probability” camp, it is more than sufficient to give the RBA pause, if not add to the evidence pointing to the need to relax policy.
The key insight here is that this could be perversely beneficial to Australia’s housing market, in which around 90% of borrowers have fully variable-rate debt.
As I have observed before, the RBA has been explicit in stating that it would crimp activity in the consumer and housing sectors in order to “make room” for Australia’s resources boom.
Based on the GDP data published by the ABS over the last nine months, it transpires that consumer spending, and private demand generally, have been healthier than perhaps even the RBA anticipated.
Ordinarily this would connote higher rates. But the economic forces sketched above have conspired against this outcome.
I have repeatedly argued that the highly interest-rate-sensitive household sector would be a good hedge against a collapse in Australia’s resources narrative. If the latter were to happen, the RBA would slash rates, which, alongside a much lower Australian dollar, would strongly stimulate consumption and housing demand. The policymakers’ plan would be for these two areas to, in effect, step into the breach left by a derailed resources sector.
In this respect, it is plausible that <place><country-region>Australia</country-region></place>’s currently soft housing market will emerge as a relative winner from any global fall-out, much as it did in 2007-08.
Christopher Joye is a leading financial economist and works with <a target="_blank" title="Rismark International" href="https://www.rismark.com.au/">Rismark International</a>. Rismark and RP Data provide house price analytics products, and solutions that enable investors to go long and/or short the housing market. The above article is not investment advice.
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chrisjoye-JYhJsTrNRC

Housing prices at a signal junction: Christopher Joye

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<div><img src="/images/stories/513.jpg"></div>
<div>The median weekly asking rent for units in Sydney, according to RP Data. The indicative gross rental yield for units in Sydney is 5.2%.</div>
<div></div>
<div>
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<img src="/images/stories/367.jpg">
</div>
<div>The median weekly asking rent for units in Melbourne, according to RP Data. The indicative gross rental yield for units in Melbourne is 4.3%.</div>
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<div>
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<img src="/images/stories/356.jpg">
</div>
<div>The median weekly asking rent for units in Brisbane, according to RP Data. The indicative gross rental yield for units in Brisbane is 5.4%.</div>
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<div>
<hr>
<img src="/images/stories/317.jpg">
</div>
<div>The median weekly asking rent for units in Adelaide, according to RP Data. The indicative gross rental yield for units in Adelaide is 4.8%.</div>
<div></div>
<div>
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<img src="/images/stories/422.jpg">
</div>
<div>The median weekly asking rent for units in Perth, according to RP Data. The indicative gross rental yield for units in Perth is 4.8%.</div>
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<div>
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<img src="/images/stories/482.jpg">
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<div>The median weekly asking rent for units in Darwin, according to RP Data. The indicative gross rental yield for units in Darwin is 5.8%.</div>
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<div>
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<div></div>
<div>The median weekly asking rent for units in Canberra, according to RP Data. The indicative gross rental yield for units in Canberra is 5.4%.</div>
<div>
<hr>
</div>
<div><img src="/images/stories/278.jpg"></div>
<div>The median weekly asking rent for units in Hobart, according to RP Data. The indicative gross rental yield for units in Hobart is 5.3%.</div>



<div><a target="_blank" href="https://www.propertyobserver.com.au/residential/investors-guide-housing-rents-across-all-capitals-by-the-numbers/2011091151431">Last week we looked at median weekly asking rents for houses across all capitals. </a></div>
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po-LsXgBTHBmX

Investors' guide: Unit rents across all capitals by the numbers

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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.
 
Woolworths has taken the unusual step of buying the Centro Lismore, NSW, shopping centre, where it is the anchor tenant on a short-term lease. 
Woolworths is traditionally a developer of shopping malls, but is not a long-term holder of these assets. 
Corporate affairs spokesman Simon Berger told Property Observer the main focus for Woolworths remained being a retailer and “looking for opportunities to serve our customers”. 
“We will develop or acquire where it suits our interests and customers, but we also lease in plenty of places,” he says. 
“We are quite flexible and adaptable quite… We don’t have a one-size-fits-all approach.” 
Berger would not confirm if Woolworths had plans to acquire similar assets: “We won’t rule it out, but equally we won’t rule it in.”
Neither Berger nor Heath Crampton, the Colliers agent who negotiated the sale, would disclose the sales price. The Australian Financial Review says Woolworths paid about $23 million, a yield of less than 7%. 
Centro Lismore is part of the Centro MCS 34 syndicate, which includes seven shopping centres, including Centro Pinelands, valued at $28 million. 
Centro Lismore was valued at $15.9 million as of December 31 2010, down 3.64% from a valuation six months previously. It has 100% occupancy and 0.4% sales growth. 
The Woolworths lease is due to expire in December 2015 and according to the AFR, the syndicate has refused to renew the lease. 
The centre is located in the heart of Lismore. Besides Woolworths, it has a Rivers clothing store and 17 other speciality stores and has a gross lettable area of 8,300 square metres. 
Heath Crampton has been appointed to sell the Centro Albion Park, which also has Woolworths as the anchor tenant. <a target="_blank" href="https://www.propertyobserver.com.au/retail/troubled-centro-now-offloading-seven-shopping-centres/2011090751471">It is one of seven regional Centro malls listed for sale by the ailing shopping centre business since July.</a> 
An expressions-of-interest campaign for the Albion mall closed on August 23. Crampton says the store has not yet been sold, but “a party has been nominated”. 
Centro is looking to liquidate its retail portfolio under a restructuring plan to form a new entity. Shareholders will vote on the restructure in December. 
In June Charter Hall Retail REIT completed its purchase of a portfolio of eight Woolworths supermarket anchored shopping centres for $284 million from Woolworths Ltd.
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Woolworths puts Lismore Centro in its shopping basket

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A three-hectare landholding in Western Australia has come onto SQM Research's most discounted list. Although the property includes a two-bedroom, two-bathroom house, it is primarily a rural property and not exactly comparable to the other properties on the list. The acreage was listed in April 2011 with prices hopes of $5.5 million, but has recently had a $2 million knocked off its price tag. 
<h2 style="font-size: 18px; line-height: 21px;">1</h2>
<a target="_blank" title="588 white beach road" href="https://sqmresearch.com.au/homediscounts/redir.php?url=http%3A%2F%2Fwww.realestate.com.au%2Fcgi-bin%2Frsearch%3Fa%3Do%26id%3D106479093">588 White Beach Road, White Beach, Tasmania, 7184</a>
On the market since: May 23, 2010
Initial asking price: $780,000
Current asking price: $400,000
Reduction: 49%
Days on market: 469
 
<h2 style="font-size: 18px; line-height: 21px;"></h2>
<h2 style="font-size: 18px; line-height: 21px;">2</h2>
<a href="https://sqmresearch.com.au/homediscounts/redir.php?url=http%3A%2F%2Fwww.realestate.com.au%2Fcgi-bin%2Frsearch%3Fa%3Do%26id%3D106966579" title="1350 Wynnym Road" target="_blank">1350 Wynnum Road, Tingalpa, Queensland, 4173</a>
On the market since: November 6, 2010
Initial asking price: $700,000
Current asking price: $380,000
Reduction: 46%
Days on market: 301
 
3
<a href="https://www.domain.com.au/Property/For-Sale/House/QLD/Burpengary/?adid=2008940771" title="102 Fountain Road" target="_blank">102 Fountain Road,  Burpengary, Queensland, 4505</a>
On the market since: April 17, 2011
Initial asking price: $1.2 million
Current asking price: $699,000
Reduction: 42%
Days on market: 141
 
<h2 style="font-size: 18px; line-height: 21px;">4</h2>
<a href="https://sqmresearch.com.au/homediscounts/redir.php?url=http%3A%2F%2Fwww.realestate.com.au%2Fcgi-bin%2Frsearch%3Fa%3Do%26id%3D105832903" title="3 Boolari Road" target="_blank">3 Boolari Road, Gosford West, NSW, 2250</a>
On the market since: July 8, 2009
Initial asking price: $990,000
Current asking price: $580,000
Reduction: 41%
Days on market: 787
 
<h2 style="font-size: 18px; line-height: 21px;">5</h2>
<a href="https://sqmresearch.com.au/homediscounts/redir.php?url=http%3A%2F%2Fwww.domain.com.au%2FPublic%2FPropertyDetails.aspx%3Fadid%3D2007562500" title="232 High Central Road" target="_blank">232-234 High Central Road, Macleay Island, Queensland, 4184</a>
On the market since: January 11, 2009
Initial asking price: $279,000
Current asking price: $175,000
Reduction: 37%
Days on market: 966
 
<h2 style="font-size: 18px; line-height: 21px;">6</h2>
<a target="_blank" title="25 Vicary Street" href="https://sqmresearch.com.au/homediscounts/redir.php?url=http%3A%2F%2Fwww.domain.com.au%2FPublic%2FPropertyDetails.aspx%3Fadid%3D2008491614">25 Vicary Street, Triabunna, Tasmania, 7190</a>
On the market since: August 2, 2010
Initial asking price: $299,000
Current asking price: $189,000
Reduction: 37%
Days on market: 3400
 
<h2 style="font-size: 18px; line-height: 21px;">7</h2>
<a href="https://sqmresearch.com.au/homediscounts/redir.php?url=http%3A%2F%2Fwww.realestate.com.au%2Fcgi-bin%2Frsearch%3Fa%3Do%26id%3D107366585" title="146 Maddington Road" target="_blank">146 Maddington Road, Maddington, WA, 6109</a>
On the market since: April 30, 2011
Initial asking price: $5.5 million
Current asking price: $3.5 million
Reduction: 36%
Days on market: 126
 
 
<h2 style="font-size: 18px; line-height: 21px;">8</h2>
<a href="https://sqmresearch.com.au/homediscounts/redir.php?url=http%3A%2F%2Fwww.domain.com.au%2FPublic%2FPropertyDetails.aspx%3Fadid%3D2007193295" title="290 Viveash Road" target="_blank">290 Viveash Road, Swan View, WA, 6056</a>
On the market since: June 5, 2008
Initial asking price: $2.29 million
Current asking price: $1.5 million
Reduction: 34%
Days on market: 1,187
 
<h2 style="font-size: 18px; line-height: 21px;">9</h2>
<a target="_blank" title="3 Zelma Court" href="https://sqmresearch.com.au/homediscounts/redir.php?url=http%3A%2F%2Fwww.realestate.com.au%2Fcgi-bin%2Frsearch%3Fa%3Do%26id%3D105294317">3 Zelma Court, Macleay Island, Queensland, 4184</a>
On the market since: May 23, 2010
Initial asking price: $380,000
Current asking price: $250,000
Reduction: 34%
Days on market: 468
 
<h2 style="font-size: 18px; line-height: 21px;">10</h2>
<a target="_blank" title="1/16 Dewar Way, Ledge Point" href="https://sqmresearch.com.au/homediscounts/redir.php?url=http%3A%2F%2Fwww.realestate.com.au%2Fcgi-bin%2Frsearch%3Fa%3Do%26id%3D106138206">1/16 Dewar Way, Ledge Point, 6043</a>
On the market since: November 15, 2009
Initial asking price: $375,000
Current asking price: $250,000
Reduction: 33%
Days on market: 657
 
SQM Research also offers a list of the <a target="_blank" title="SQM Research" href="https://www.sqmresearch.com.au/top100bargains.php">Top 100 Biggest Bargains in Australia </a>for sale.
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louischristopher-TWpYcZDLBK

WA landholding makes debut on SQM discount list

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Last week I presented the pros and cons of Strata vs. Torrens Title subdivision for a dual-occupancy project.

For this project, we are building two free-standing homes. The land is not a corner block, so one home is positioned behind the other and they will share a common driveway.

Our first response was to try and achieve a two lot Torrens Title subdivision because it’s what most people understand when purchasing houses.  Strata subdivision tends to be associated with multi unit developments, rather than house-and-land projects.

But, when you think about it, if you have two houses sharing a common driveway, then there should be some formal arrangement on who is going to pay for the upkeep of the driveway.  A strata subdivision covers this off, while a Torrens subdivision leaves driveway maintenance up in the air or for owners to fight over. 

[smartcode_project:default project_id=21618]

We asked our surveyor to set up the strata plan giving each house its own land on title, minimising common areas to the driveway and the dividing fence between the two houses.  Being a small, two lot strata subdivision; it means that we’d be exempt from the more formal strata management of larger schemes.  As the houses are freestanding and have their own yards, it is quite a simple process. 

If our client, on completion of the development decides to hold both houses, they may also decide not to even register their subdivision immediately. We would have the approval in place and this has no shelf life, so they could register the subdivision years down the track when and if they decide to sell. 

If they decide to sell one house and keep one, after registering the subdivision, all costs for managing, maintaining, repairing and insuring the common property are shared by the owners in direct proportion to their lot's respective unit entitlements. In this case it is an equal share; each lot has one unit entitlement, so it is very straight forward to manage. Each owner is responsible for 50% of any costs to repair or maintain the driveway/common area. 

Small strata schemes (two lots)

The special provisions for 2-lot schemes are:

<ul>
<li>the two owners automatically form the executive committee, removing the requirement for an election</li>
	<li>a quorum for all meetings is when the 2 owners are present</li>
	<li>Building insurance is not compulsory where the two buildings are detached and there are no additional buildings on common property. However, both owners must decide to forgo insurance cover by unanimous resolution at a meeting. Each owner may then insure the structure on their own lot.</li>
	<li>If the buildings are detached, the owners can decide not to have a sinking fund provided there are no additional buildings on common property. Both owners must decide this by unanimous resolution at a meeting.</li>
</ul>
With the advent of the compulsory 10-year sinking fund plan legislation, 2-lot schemes managed to get special consideration. Essentially, a 2-lot scheme doesn't need to have a sinking fund.

[smartcode_project:default project_id=28070]

Finally, there are no requirements for two-lot schemes to have any audit of accounts and financial statements. Reference: <a href="https://www.strataman.com.au/">www.strataman.com.au</a> 

Property Bloom found by setting up the strata title subdivision in the right way that it was the better way to subdivide. Not only does a small strata subdivision (two lots) cost a lot less in development costs than a two lot Torrens subdivision, it is also a much quicker process.

The winner is, in our books is a strata subdivision for a dual occupancy where there is a shared driveway.

Jo Chivers is director of <a href="https://www.propertybloom.com.au/" target="_blank" title="Property Bloom">Property Bloom</a>, which manages property development.
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jochivers-wq5Bp59R5a

Why a strata subdivision is better than a Torrens title subdivision for some developments

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Agent step quoting is a contentious part of our industry: It’s how selling agents nudge buyers up the staircase towards a price their clients are hoping for. Done badly it can make buyers feel cheated and manipulated and invite accusations of under-quoting. Done well it’s a legitimate haggling process agents use to get a buyer and a seller to meet at a price point they’re both comfortable with.
We usually only hear of step quoting when it’s done badly as it highlights the low-skilled, unethical agents almost immediately. When highly skilled agents use step quoting successfully it goes unnoticed except through careful examination at a later date. Yet within the inner-east and bayside million-dollar-plus markets it is a particularly common practiced black or noble art depending on your point of view.
How does it work? Well at the top of the stairs in step quoting you have a seller, a mum or dad just like you and they think their home is worth $4 million. At the bottom of the stairs in step quoting is you, the buyer and you think the home is worth early three’s, but your dream price is $2.95 million – you don’t want to admit to a 3 in front of it at this stage.
Both you and the seller are interested in the transaction because the seller feels it’s time to move on and you hoping it’s time to move in.
You’ve seen the home in an ad and you’ve rolled up to the first open for inspection. The selling agent at the door says $3.2 million plus when you ask the “how much” question, while not in any way looking interested under your recently purchased “anti-agent” dark sunglasses.
“Mmmmm, $3.2 million – a bit more than the $2.95 million” you thought it was worth and maybe you will have to concede it’s going to have a 3 in front of it. You’ve moved a step to step two – not that painful.
But hold on, wasn’t that $3.2 million quote underquoting by the agent? Hasn’t the agent committed an offence by quoting at this stage a price much lower than they said the property may sell for?
Let’s press rewind for a minute.
OK Mal, how can the owner realistically think the home is worth $4 million? Trust me, this for many is not a dream figure, this is a cast in stone, almost religious belief and it comes from one of four sources: the agent told her, her mate told her, another agent told her or the tea-leaves told her – but she believes right now her home is worth $4 million when quite possibly in this falling market the home is considered low $3 millions by most serious buyers and even the agent currently trying to sell the home.
How come? Time lag and the well-known leap of faith valuing technique. Ten weeks ago the owner met with a number of agents – some competent, some not so competent and some downright rascals, and the average of what the seller was told seemed to be $3,400,000 to on a really good day $3.7 million. One rascal agent did say $4.3 million, but the two other competent agents said mid-$3 millions. With each of the two “mid $3m’s quote” competent agents the seller asked “do you think I can get more, could I get $4 million” Each agent, who still wanted to get the job replied “it’s possible but unlikely”. Luckily for the seller one of the competent agents was engaged, even though he was not the highest in value estimate.
That was 10 weeks ago, this is now.
The vendor, who is now getting more emotional, is convinced more than ever that the news of the world doesn’t apply to her – when in fact it does and her $4 million was always $3.7 million on a good day – yet the market has dropped 10% in 10 weeks and her home is now worth $3.4 million – on a good day with plenty of bidders. The selling agent doesn’t know yet if the home will have plenty of bidders as this is the first open for inspection and so being professional and with an obligation to the seller’s interest first and foremost they are quoting $3.2 million plus. You tell me – is he dealing morally, legally or ethically?
The first open actually went pretty well and the selling agent put seven names onto their list. As one of my favourite agents and master of the step quote once explained, there are three lists: the door list (everybody who goes through is on that), then there is the engaged list and finally there is the buyers list.
But that’s another story, back to the steps and step quoting. It’s week two and you notice in the papers the home is quoted at $3.4 million plus. “Mmmm,” you think, “they must have interest”. Well, they may and quite possibly they may not. Think about it – the $3.4 million-plus quote would have gone in before the first open to meet printing deadlines, the new quote is not a response to the first open for inspection(OFI) but part of a well-planned step quoting process.
You are back at the second OFI and you ask about the quote – of course in a manner behind your “anti-agent” dark sunglasses so as the agent knows you’re not interested. A reply comes either “that was a printing mistake” (one of my favourites if the campaign hasn’t leaped out of the blocks in the first week) or “yes, we’ve had a lot or interest and so we put the quote up”.
At this point a number of things have happened – you the buyer have made it onto the second list – the engaged list – as you are a “repeat inspector”. Second time round you really like this home and you, the buyer, have now gone to Step 4 begrudgingly. Step 1 was your dream price $2.95 million and you blew past Step 2 ($3 million) and Step 3 ($3.2 million) and your teetering around Step 4 ($3.4 million).
Meanwhile back at the ranch the selling agent is also doing all he can to pull the vendor back down from the top step of $4 million – talking about clearance rates, and falling prices and global recessions. The vendor won’t budge. “You said I could get $4 million,” she says.
Week 3 and you are back at another open for inspection – you are now being considered a serious prospect. But the price has gone up again: “We have had some interest at around $3.7 million. How do you feel about that? “ the agent asks you.
Actually you feel sick, but behind your special “anti-agent” sunglasses you trot out, “Mmmm,  guess that puts me out” You think $3.7 million, OMG. What – I’m not paying over $3.6 million”, and so welcome you’ve arrived at Step 5 in the step quoting process.
The agent has deliberately not asked the vendor for a reserve as he is aware of what she “may” want and also aware of the law. Meanwhile the agent is pummelling the seller with reports of how the serious buyers have either fainted or been abusive when they hinted at a price of $3.5 to $3.6 million.
So come auction day; you the buyer are at Step 5 with a lean and our vendor is at Step 7 with a lean.
The home is naturally passed in and the selling agent runs up and down the stairs until a result either happens or the vendor sticks to her guns, and the home is listed for private sale the following week.
So, has the agent acted unethically or illegally?
He would have if he had told the seller that she could get “$4 million, no worries, I promise, maybe even $5 million”, and then once he had “bought the job” given the buyers a quote of $3 million at every open for inspection and never made any effort to work (explain to) the buyer or the seller along the steps.
Such agents are unethical and lazy and unfortunately they are too plentiful in supply through deliberate training or poor supervision.
But are agents who work to bring the buyer up to maximise the vendor’s price, and the vendor down towards what the market will pay, which ultimately achieves what the vendor wants (a sale), doing their job ethically and professionally? In these cases it’s a fine line, but if you are a buyer that moves up the steps and you have been informed along the way then well, are these quality agents not just doing their job very well?
Why you as a buyer may need some professional help? In this market what happens if you are the only buyer on the engaged and buyers list since the first quote of $3.2 million plus?
You mightn’t like being run up the step quoting stair, but that’s how the property market works, and the highly skilled selling agent’s job is to get the best price for his or her client, who, by the way, is not you.
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.</body></html>

maljames-vHwm28JUAa

A smart buyer's guide to step quoting

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Property developer Peter O’Mara has been embroiled in a Federal Court battle after building company Tamawood alleged O’Mara’s collapsed project management group Habitare breached intellectual property laws.
O’Mara made headlines earlier last year when millions of dollars’ worth of art was stolen from his Darling Point home. He claimed later the theft was a set-up.
The court battle comes as a number of O’Mara’s businesses have been placed into either receivership or administration, including aged-care facility Pinevale Villas Lismore.
Tamawood has reportedly accused Habitare, which collapsed into receivership last month, of breaching copyright by using some of its intellectual property in building designs.
This comes as Habitare, along with several other businesses owned by O’Mara, have been placed into receivership.
Ernst &amp; Young receiver Justin Walsh did not respond to requests for comment.
It is understood that McGrath Nicol administrators John Cronin and Jamie Harris have also been appointed. The pair were also contacted, but no reply was available before publication.
O’Mara’s aged-care facility Pinevale Villas Lismore also collapsed into receivership last month.
O’Mara said last year that the theft of 18 pieces of art worth over $2 million was likely a set-up and that “I think it’s been set up for a while”.
"It's a gut feeling, but the whole thing had to be set up – I think it's been set up for a while," he told the Daily Telegraph. "Not many people knew the artworks were here. You can't exactly see them from the road."
O’Mara has previously served as a director of Eyecare Partners, which operates a number of optometry centres throughout the country, although he resigned from that role in September 2007.
His main focus has been on building and construction, working in the industry for over 30 years. In 1993 he started Hunter Johnson, a property development group, which mainly focused on the south-east Queensland area.
O’Mara started Habitare in 2000, focusing on external builders and residential developments.
This article originally appeared on <a href="https://www.smartcompany.com.au/legal/20110914-property-developer-peter-o-mara-embroiled-in-legal-battle-as-business-empire-crumbles" title="SmartCompany" target="_blank">SmartCompany.</a>
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cknowlton-QnEa6ntUYP

Property developer Peter O'Mara embroiled in legal battle as business empire crumbles 

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Sales of neighbourhood and sub-regional shopping centres have topped $1 billion for the year to date, according to new market analysis from CBRE, with 38 centres changing hands between January and August.
This is 37% higher than in the entire 2010 calendar year, when 28 centres were traded for a total of $713 million, with four months of the 20111 still to go.
So far this year, five sub-regional shopping centres have changed hands, including Centro Hervey Bay in Queensland, Carnes Hills Marketplace in Sydney, Point Cook in Melbourne, Ballina Central in northern NSW and Highlands Marketplace in the NSW Southern Highlands.
A total of 35 neighbourhood centres have also been traded, with this sector of the market benefiting from its bias towards food and service retailing.  Recent transactions include the $40.1 million sale of Albany Creek Shopping Centre in Brisbane to Charter Hall Retail REIT.
The Property Council of Australia defines a sub-regional shopping centre as a “medium-sized shopping centre typically incorporating at least one full-line discount department store, a major supermarket and approximately 40 or more specialty shops with a total gross lettable retail area of between 10,000 and 30,000 square metres.”
A neighbourhood centre is defined as a “local shopping centre comprising a supermarket and approximately 35 specialty shops with a total gross lettable retail area will typically be less than 10,000 square metres”.
CBRE regional director of retail investments Steve Wakeham says demand for quality retail investment opportunities is continuing to increase, despite the recent negativity in relation to the impact of internet retailing and a slowdown in retail trade.
“If the current momentum is maintained, we expect in the order of 60 neighbourhood and sub-regional sales to be concluded in 2011, particularly given that sales activity is traditionally higher in the second half of the year.”
He attributes the marked increase in sales activity to both the improved availability of debt funding and the higher volume of sales listings in 2011.
Earlier this month, Centro listed a further three regional shopping centres for sale,<a target="_blank" title="Centro lists seven centres" href="https://www.propertyobserver.com.au/retail/troubled-centro-now-offloading-seven-shopping-centres/2011090751471"> taking the total since July to seven.</a>
“There has been a noticeable increase in the volume of listings this year and at the same bank finance has freed up, providing the necessary debt funding to underwrite a higher number of transactions,” he says.
Wakeham says institutional investors had been the most active purchasers this year. At the top end, this included offshore institutional investors such as GIC and the Canadian Pension Plan Investment Board, alongside local A-REITs, particularly Charter Hall, and domestic superannuation funds
“These investors have very particular requirements and are looking for centres that are either dominant now or can be redeveloped to be the dominant centre in their particular catchment,” Wakeham says, adding that the Woolworths portfolio sale had been a key litmus test for the market.
“Charter Hall’s purchase of eight Woolworths centres highlighted the attractiveness of well located, convenient, supermarket-based centres with the portfolio attracting significant interest from both local and offshore investors.”
The CBRE analysis excluded regional shopping centre sales, which tend to skew the results given the limited number of regional transactions and the high value attributed to such transactions.
It also excluded the Lend Lease purchase of ING Retail for $1.4 billion, concluded at the end of 2009.
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Suburban shopping centre sales top $1 billion for year: CBRE

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The Choice Big Bank Switch initiative has kept the 40,300 home loan borrowers prepared to consider refinancing waiting for the past four weeks without any indication of any discounted home loan offers.
“One Big Switch is in a process of negotiation with a number of Australian lenders and is trying to source home loan offers for registrants which offer a genuine group discount,” the registered borrowers were advised four weeks ago on August 17, shortly after registrations closed.
One Big Switch launched in Australia on July 31 with 10,000 consumers registered in the first 12 hours, and 40,000 registered in the first two weeks.
Registration for the Choice Big Bank Switch closed on August 14.
“We are working night and day to try and secure a discount, but the reality is these discussions could take several weeks; we will keep you in the loop the whole way,” an August 17 email advised.
“If One Big Switch is successful in its negotiations with lenders it will then be a matter for you to decide whether any of the group discounts are right for you, and for the individual lenders who may make discount offers to decide if you are eligible to take up any discount offer,” the only email sent said.
On August 29 One Big Switch tweeted: “Discussions with lenders going well.”
But much of its Twitter activity has been about other subjects, including power bill savings.
In late August One Big Switch suggested @OurBankingPower had been sending rude tweets, based on inaccurate assumptions.
Paul Hunyor and Lachlan Harris founded One Big Switch. Hunyor has worked in corporate finance, private equity, and management consulting, and is a graduate of Harvard University. Harris was the Senior Press Secretary to Kevin Rudd from 2006 to 2010.
"We are finalising offers now, but I can’t give a timeline," Harris told Property Observer today.
“We are currently getting all our ducks in a row. I should be able to tell you more early next week," Harris says.
Toby Brennan, Brendan O’Mahoney, and Kate Gauld are all senior members of the One Big Switch Team. Brennan and O’Mahoney both have extensive experience working in the finance and corporate sectors in Australia and overseas. Gauld has worked at several of Australia’s best-known not-for-profit organisations.
“We believe the power of group switching will be good for competition in the mortgage industry,” the website says.
“This increased competition is good for all lenders who want to compete for the business of switchers.”
One Big Switch is a for-profit business committed to helping Australian consumers pay less for their regular household bills. One Big Switch is an Australian Credit Licence holder and a registered member of the Credit Ombudsman Service.
One Big Switch makes no makes no representation that any registrants will be eligible for any special offer or other finance advertised on the website.
<a target="_self" href="https://www.propertyobserver.com.au/news/discount-mortgages-gain-ground-as-one-big-switch-passes-10000/2011080351011">The One Big Switch launch</a> was met with claims it was a <a target="_blank" href="https://www.propertyobserver.com.au/news/lachlan-harris-defends-one-big-switch-from-critics/2011080351018">gimmick by some commentators.</a>
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