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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Melbourne leads the country in industrial rental growth as developers consider new projects in key transport hubs. 
CBRE’s latest Asia Pacific Industrial and Logistics MarketView shows that the overall trend was for a slowing in rental growth. 
Melbourne was standout in the CBRE Logistics Rental Index with the city recording the strongest quarter-on-quarter and year-on-year rent growth in Australia of 0.7% and 6.8% respectively. 
This was close to double the 3.9% year-on-year rent growth recorded in Perth, which had the second highest rental growth over the period, followed by Brisbane at 3.3%. This was followed by Adelaide at 1.7% and Sydney at 0.9%. 
On a quarterly basis, rents were stable in most markets, with the exception of Melbourne. 
CBRE industrial and logistics services senior director Dean Hunt says underlying demand from the import and retail trade sector has underpinned activity in the Melbourne market. 
“Further assisting is the reduction in vacancy, which is creating greater competition for space and the beginnings of a re-emergence in the speculative development sector,” Hunt says. 
In Sydney, the report shows that high Australian dollar was continuing to put pressure on local manufacturers. 
The movement of a number of large south Sydney tenants to cheaper markets in the western suburbs has kept a lid on Sydney rent growth in 2011. 
“In Sydney, a shortage of supply in the outer west is spurring development in response to the emerging trend for a number of larger South Sydney tenants to relocate to the sub region to lower their real estate costs,” says CBRE industrial, logistics and investments regional director Joshua Charles. 
Small-scale development has returned to Adelaide as demand for smaller units and sites increases in well-located areas. 
In Brisbane there was little change in rents as the market continued to absorb existing stock and companies took longer to negotiate lease agreements. 
However, with the Brisbane development pipeline having dried up, the report tips some upward pressure on rents for large facilities in coming months and re-emerging interest in design and construction options.
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jchancellor-FAypfDUnLy

Melbourne industrial rental market booming thanks to transport projects

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NSW has recorded a 5.4% rise in building approvals on a seasonally adjusted basis in July, helping the nation limp to a 1% increase, according to ABS figures released today.
The 5.4% increase follows a 3.8% increase in June, but comes after two big drops in May (12%) and April (15%).
Victoria suffered the biggest drop of the eastern seaboard states, down 3.1% in July, following a 6.6% gain in June.
Tasmania suffered a 26% drop in building approvals in July
The 1% increase to 12,227 dwellings nationally was the result of an uptick in public sector approvals, which increased by 77% from 256 units to 454 units. Private sector approvals were down 0.7% during July and have fallen for three consecutive months.
Queensland suffered a 14.5% decrease in private sector housing approvals – the biggest fall across all states – and the fourth straight month that housing approvals have fallen as new home builders awaited the start of the state government’s $10,000 building boost, which kicked off on August 1.
<ul>
<li>The seasonally adjusted estimate for private sector houses fell 0.2% in July 2011 to 7,600 houses following a fall of 3.3% in the previous month.</li>
<li>The seasonally adjusted estimate for private sector dwellings excluding houses approved fell 1.4% to 4,173 dwellings following a fall of 4.5% last month.</li>
<li>The seasonally adjusted estimate of the value of total building approved fell 4.4% in July following a fall of 1.4% last month.</li>
<li>The seasonally adjusted estimate for the value of total residential building fell 1.2% and the value of non-residential building fell 9.7%.</li>
</ul>
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lschlesinger-FZcF9M3vE6

NSW building approvals up: ABS

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In the standard literature, the so-called “equity risk premium puzzle” refers to the substantial outperformance of listed shares over safer government bonds. The magnitude of the differential in returns generated by these assets suggested to some that investors were inconceivably cautious, or risk-averse, and thus demanded exceptionally high returns from equities in order to compensate them for the market’s sizeable volatility, or risk of loss. 
There are at least three other explanations that I am more sympathetic to. The first is that there is, in fact, only a small – indeed, far too small – equity risk premium over government bonds when you run the right numbers. I will return to that later. 
The second (related) argument is that investors’ portfolios have actually been plagued by quite irrational and poorly compensated “risk-seeking” asset allocations, which have underestimated the probability of loss in, and relative valuations of, shares compared with far more secure fixed-income assets like cash and government bonds. 
I suspect that this irrationality was itself influenced by investor ignorance about corporate capital structure risk and, more fundamentally, the important differences between debt and equity. I have little doubt that these misconceptions continue to prevail at the retail punter level. I would venture they also exist amongst more sophisticated institutional investors. 
One concern is that this equities’ “obsessive-compulsive disorder”, as I like to call it, appears to be a peculiarly Australian affair, which is most endemic in our superannuation system. It is an interesting sociological question as to whether this is somehow linked to our unusually pervasive gambling culture. 
According to the OECD, Australian super funds have far and away the highest exposures to listed equities of the 31 countries they survey (see first chart below). This has manifest in inferior performance vis-à-vis other pension systems around the world. Click to enlarge
 
<a href="/images/stories/joyesept131.gif" rel="shadowbox" title="Click to enlarge"><img src="/images/stories/joyesept131thumb.gif"></a>
Here the OECD finds that over the last three years,“the worst [pension] performance was observed in Spain (-2.0% nominal, -3.8% real), Australia (-2.8% nominal, -5.6% real), Portugal (-3.1% nominal, -4.1% real), and Estonia (-3.7% nominal, -7.7% real). The average, yearly net return over the period [for all 31 countries] was 5.4% in nominal terms and -0% in real terms [ie, dramatically higher than Australia’s results] 
As I have explained before, debt ranks ahead of equity, commits to repay you the dollar value of your original investment, and promises a predetermined rate of return. 
Equity does not offer you a guarantee to return your capital, is subordinate to debt in the event of insolvency (i.e., you get paid last), and directly exposes you to the risk of loss in concert with the prospect of non-specified gains. 
One of the great ironies of the asset-allocation puzzle that has led to excessively high weights to shares in Australian portfolios is, as I explained <a href="https://www.businessspectator.com.au/bs.nsf/Article/fixed-interest-corporate-bonds-equity-returns-pd20110530-HC8N2?OpenDocument&amp;src=srch">here</a>, that debt is, by its construction, far easier for punters to understand, analyse and value than equity. 
The lay observer would not, however, think this given the vast industry complex that has been built up around promoting the share market –with countless online retail stockbrokers and media backers – that in turn make investing in shares seem like it need no more qualification than a functional index finger. 
But as any professional analyst understands, the highly uncertain assumptions and complex discounted earnings models required to estimate the equity returns that may or may not materialise from a listed company are orders of magnitude more sophisticated than valuing a floating-rate debt security.
 
<hr class="system-pagebreak">
 It is even more bizarre that the regulator, ASIC, makes it harder for mums and dads to invest in debt than equity, given the greater certainty, security and transparency of the former over the latter (the minimum direct investment is $500,000).
Any chump can create an online trading account to gamble, on say, unsecured <city>Bendigo</city> &amp; Adelaide Bank shares, but heaven forbid if you want to invest in <city><place>Bendigo</place></city> &amp; Adelaide Bank’s senior or subordinated debt securities. 
Chalk that one up as a win to the banking cartel that does not want to be disintermediated from the supply of business credit by an ascendant retail debt capital market, and the hordes of share market salesmen relentlessly spruiking the “value” and purportedly high returns associated with this company or the next. For what it is worth, Aussie government bonds have outperformed global equities over the last 30-plus years. That is to say, there has been a negative equity risk premium between global shares and Aussie government debt. 
Another way of thinking about this is by considering the risk in your own home. When you buy a home, you provide the cash deposit, which is your equity. The bank supplies a home loan, which ranks ahead of your deposit in the capital structure. If things go belly up, the bank’s debt ranks ahead of your equity. The bank gets to sell the home, recover its principal and any unpaid interest, and only then to you get the left overs, assuming there are any. 
Now consider a listed company. Would you prefer to be the bank, or the secured lender to that company, by investing in its debt, or be the mug who provides it with the risky equity capital, equivalent to the deposit for your home? 
A second, related explanation of the equity risk premium puzzle is that the difference in total returns delivered by shares and government bonds is not as great as some claim. For example, Challenger Financial’s actuaries have run analysis that shows once you control for measurement mistakes in the academic literature, such as forgetting that government bonds have a ‘total return’ including both capital gains and income, the performance gap between Australian shares and Australian government bonds has only been about 2% per annum (our numbers are similar). On a risk-adjusted basis – i.e., controlling for the probability of loss – shares look like a comparatively poor investment. In the technical jargon, the so-called “Sharpe Ratio”, or risk-adjusted return, attributable to shares is about half that yielded by Aussie government bonds.
This actually inverts the entire equity risk premium puzzle on its head: could it be possible that, in <country-region><place>Australia</place></country-region> at least, the question is why listed shares have not offered more (rather than less) compensation for their very high risks? Now I have never heard or read that question before. An ensuing query, therefore, is whether in Australia the equity risk premium puzzle is about understanding if investors have had too much – as opposed to too little – risk tolerance. This arguably fits more comfortably with the academic research literature on investors’ behavioural biases.
 One issue that the Challenger analysis has yet to address is the subject of “survivorship bias”, which, if it exists, would further reduce the disconnect between bonds and shares. 
There are at least two forms of survivorship bias. The first is the likelihood that before 30 to 40 years ago, Australian share market indices only included “winners” – or the companies that survived – and do not retain data on the performance of “losers” – i.e., those that have delisted due to corporate distress. 
A second more insidious bias that remains to this day is that when a company goes into insolvency, trading in its shares is suspended, and the last price recorded by the ASX is the pre-insolvency value. Oftentimes the company’s shares will never trade again. Yet as the so-called “residual claimants”, shareholders get paid out last after all other creditors, and their realised returns are, as a result, frequently a fraction of the value implied by the last traded price. 
Following the circa 50% losses experienced in the global share market collapses in 1987, 2001, and 2007-08, and the more recent turbulence wrought by the North Atlantic sovereign debt crisis, Australian retail and wholesale investors are beginning to make some belated changes to their asset-allocations that will see them reduce their equities exposures in favour of higher cash and fixed-income weights. While this could take years to fully implement, it may further depress equity valuations until such a point as the expected future returns implicit in prices offer adequate compensation for shares’ extraordinarily high risk. 
There is also a case that this dynamic will be amplified even more as the population ages and risk-aversion increases: that is, demographic change will drive greater appetite for cash and fixed-income securities.
<hr class="system-pagebreak">
 
The funny thing is, the more the North Atlantic financial markets crap themselves, and the more pressure that is brought to bear by investors, economists, commentators, politicians and ‘policymakers’ on the RBA to cut – or, in extremis, hold – interest rates, the more bullish I feel on both housing and shares! 
As of this morning, the interest rate futures markets are pricing in 5.7 cuts – of one quarter of a percentage point each – to the RBA’s official 4.75% target cash rate by July  next year. That would bring the cash rate down to one hike above its GFC nadir of 3%, and slash mortgage rates back to near-40-year lows (see chart). Click to enlarge
 
<a href="/images/stories/joyesept132.gif" rel="shadowbox" title="Click to enlarge"><img src="/images/stories/joyesept132thumb.gif"></a>
Now I don’t really pay much attention to the financial markets’ precise predictions, because they are so consistently wrong. They are, however, informative in a directional sense. And what makes them more credible is that many smart and thoughtful economists (and investors) are jumping on the doom-and-gloom bandwagon with some notable exceptions, including yours truly. (I am probably the only person in <country-region><place>Australia</place></country-region> who thinks the RBA will still nudge rates higher this year.) 
AMP, Deutsche Bank, Goldman Sachs and Westpac all believe that the RBA will cut rates by between one and two times before we move into 2012. Macquarie Bank forecasts there will be four rate cuts by the end of next year. 
Concurrently, there is mounting pressure being placed on the RBA’s staff by its own board, members of which are reported to have been calling for rate cuts for months, and by untold vested interests – union officials, retailers, exporters, politicians, and share market investors – to, in effect, look past, the RBA’s official 2% to 3% per annum inflation target in the name of “shoring up” employment and growth. As the accountant Anthony Bell argued, why shouldn’t we be allowed to run a Chinese-style inflation rate? 
Since November last year, the RBA has acquiesced, ignoring consecutive way-above-target “core” inflation results in the first half of 2011 that would ordinarily have led to reflexive hikes. Yet the RBA has not simply overlooked the official ABS inflation numbers, and the two measures of “underlying” inflation that the RBA itself designed (which remove the effects of the floods and so forth). 
The RBA has also disregarded its own official forecasts for underlying inflation over the next three years. In the two editions of its Statement on Monetary Policy published this year, the RBA has projected that core inflation would remain materially above the mid-point of its target 2% to 3% per annum range out to 2013. Indeed, it is predicting that inflation pressures will rise over time while also acknowledging that its historical forecasts have had a worrying tendency (the RBA’s characterisation, not mine) to under-club the ultimate strength of <country-region><place>Australia</place></country-region>’s inflationary pulse. 
In his most recent parliamentary testimony, Stevens argued that: “There are periods of tremendous turbulence when I think it is a very good thing for policy to just sit still…You can only do that if you feel that you are in some sense ahead of the game on inflation, which I have felt.” (emphasis added) 
Now noting my points above, and that Stevens and his colleagues went on to describe the underlying inflation pressures reported in the first half of 2011 as “troubling”, “broad-based”, “surprising”, and not directly due to the resources boom, it is an arduous task to understand how the governor can possibly claim that the RBA currently feels “ahead of the game” on inflation. 
This statement seems to fall into the same camp as his claim several testimonies ago that, “[I]n my experience the Reserve Bank never has leaked and, if I can help it, it never will.” As the commentator Alan Kohler wrote at the time, “Yeah, right, and Tiger Woods is gay.” 
 
Historian Stephen Bell of the University of Queensland has documented the problem of RBA leaks using the example of former RBA board member Hugh Morgan: 
“In mid 1997 the Bank's apparent confidence in an 'ethical fix' was questioned when it was revealed that Western Mining Corporation had quadrupled its forward sales of gold [to hedge the risk of price falls] at the same time as the RBA was secretly selling two-thirds of its gold reserves. Hugh Morgan, the CEO of Western Mining, was a member of the Bank's Board at the time. He did not, and was not required to, absent himself from the Board meetings, which dealt with the gold sales.” 
A related irony here is that the RBA and its governor have for years been criticising investors for spending too much time focusing on the North Atlantic economies, and paying insufficient attention to the developing world. This is because a remarkable 65% of all Australian goods exports now go to emerging (as opposed to developed) countries, with 75% sent to Asia alone. 
It is also because over 70% of global GDP growth during the last decade has been created by countries outside of North America and <place>Europe</place>. Even if we ignore growth and simply examine shares of global output measured in US dollars, we find that over half of the world’s output does not derive from the G7 economies. 
 
<hr class="system-pagebreak">
 
In short, the world is a much bigger and more diversified place than the financial markets seem to believe. The risk is that the RBA itself has fallen for the same trap by setting Australian monetary policy on the basis of US and European capital market turbulence. It explicitly acknowledged as much when it reported in the last minutes that the board would likely have raised rates in August were it not for the US debt ceiling crisis. 
While it is not my own central case, if the financial markets and the more bearish economists are right, and the RBA has come to the end of this tightening cycle, Australia’s most interest rate sensitive sector – housing – is likely to be a good place to be. 
We have had no house price growth across <country-region><place>Australia</place></country-region>’s combined capital cities for 19 months now. At the same time, household disposable incomes, as measured by the ABS’s quarterly National Accounts, have grown rapidly at a circa 7% to 8% per annum pace (see chart). Click to enlarge
<a href="/images/stories/joyesept133.gif" rel="shadowbox" title="Click to enlarge"><img src="/images/stories/joyesept133thumb.gif"></a>
If the bears prove correct, and mortgage rates come down 140 or so basis points to around 5.6%, we are likely to see the return of quite healthy house price growth as savers are punished – via lower cash returns – while geared investors flock to the perceived security of bricks and mortar.
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

The worse the world gets, the better housing will: Christopher Joye

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The Rydges Wollongong will undergo a startling transformation from February next year when it converts from a 70-room hotel into a 90-bed private psychiatric facility. 
The redevelopment of the hotel located at 112 Burelli Street follows a “complex” lease agreement being negotiated between the owner of the building, Australian Property Trust, and new tenant Evolution Health Care. 
A development approval will be lodged by Australian Property Trust with Wollongong City Council within the month to undertake a $4 million refit of the Rydges Hotel property. 
Evolution Health Care will lease the building on a “long-term arrangement”. 
The deal was negotiated by Colliers International’s national director of transaction services – healthcare and retirement living, Phil Smith, as advisor to the Australian Property Trust. 
Smith says the transaction was a long and complex negotiation, and is a great result for both parties and the broader Illawarra community, which is poorly served in terms of mental health. 
The Australian Property Trust acquired the building in 2004 when it was known as the City Pacific Hotel and appointed Rydges to manage the property. 
In 2005, the trust spent $3.25 million upgrading the hotel, including adding nine new rooms. 
Evolution Health Care chairman and CEO Ben Thynne says Wollongong Clinic will deliver state-of-the-art private mental health services to the Illawarra region. 
“Local psychiatrists have, and will continue to, be involved with the planning of the facility, which will offer vital services such as general psychiatry, depression, bi-polar and post-traumatic stress disorders,” he says.
Thynne says the clinic will add 80 jobs and 90 additional private hospital beds to the Illawarra when fully functional.
The Australian Property Trust is a subsidiary of the Melbourne-based ECS Property Group and includes the Rydges North Melbourne and Rydges Eaglehawk Resort in its property portfolio. 
The expansion into the health sector is part of a move to further diversify the unlisted group. Besides its hotel assets, the trust owns residential development sites, land subdivision and commercial property. 
Australian Property Trust CEO Mark Etherington says the conversion of the existing hotel to a private hospital will allow the group to improve income streams and strengthen profitability.
“We have earmarked further acquisitions that will compliment this current model of asset value-add,” he says.
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Wollongong hotel to become psychiatric facility

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The renovated 1960s suburban at<a target="_blank" title="15 Anthony Road" href="https://www.realestate.com.au/property-house-nsw-castle+hill-107810196"> 15 Anthony Road, Castle Hill</a>, is no longer stuck in a timewarp.
And its <a href="https://www.propertyobserver.com.au/renovating/reno-tv-series-the-renovators-offerings-scheduled-for-late-september-auction/2011091251509" target="_blank">upcoming September auction</a> will give some guidance on the future direction of the Sydney market.
Having been listed with low $600,000 expectations in January this year, it cost $607,500 when bought by the producers of the latest renovation television series, The Renovators.
The four-bedroom house sits on the largest land holding in the series of 765 square metres.
It had last been marketed through LJ Hooker with the suggested “Renovate or Detonate!” LJ Hooker suggested the new owner to possibly build a duplex.
The ensuing single-storey house renovation over the past three months had a budget of $126,000, thereby requiring $760,000 to break even, after including conveyancing costs. It has been listed by Martin Baldacchino at Century 21 The Complete Real Estate Castle Hill.
It’s been the most actively traded of the show’s six offerings and amply highlights the ups, down and plateaus of Sydney’s property market over the decades.
It had previously sold at $460,000 in 2006; when the then vendors tried without luck to secure $549,000 having bought in boomtime 2003 at $520,000.
In 1994 it fetched $213,500 and four years earlier in 1990 it was sold at $205,000.
The Century 21 estate agents selling the six Sydney homes featured in the realty series The Renovators have been instructed not to issue price guidance.
And unlike The Block a request by Property Observer failed to secure any depreciation reports for the renovated properties, which will be sold with furniture.
The six were bought by the series producers for a $3.3 million total between December 2010 and March this year. The renovation budgets totalled at least $740,000.
The cheapest acquisition was the $299,500 fibro cottage at <a target="_blank" title="85 Harold Street" href="https://www.realestate.com.au/property-house-nsw-blacktown-107825221">85 Harold Street, Blacktown</a>, which now has expansive outdoor living areas and modern indoor features. Its renovation budget was $62,000. It had previously traded at $270,000 in 2006 and had been listed with a $329,950 four months before its sale to the television series company. It’s been listed by Penny Stylianou at Century 21 John Ross Combined.
The weatherboard, at <a target="_blank" title="51 Franklin St" href="https://www.realestate.com.au/property-house-nsw-parramatta-107820796">51 Franklin Street, Parramatta</a>, was next cheapest at $460,500. It is now a modern family home with three bedrooms, two bathrooms with an entertaining space and backyard area. It had been marketed for December 18  2010 auction by LJ Hooker as “not listed as heritage by Holroyd Council.” Its renovation budget was $95,000.
The inner-city terrace, at <a target="_blank" title="12 Hegarty Street" href="https://www.realestate.com.au/property-terrace-nsw-glebe-107810276">12 Hegarty Street, Glebe</a>, cost the dearest price at $720,000 and also sits on the smallest block of just 89 square metres. It is now a renovated 1890s three-bedroom, two-bathroom property featuring open-plan living. It was bought just a week after coming onto the market through Belle agent Mark Tooth and James Cahill in late January this year. It has been listed through Thomas Skelly at Century 21  Cordeau Marshall. The renovation budget was $150,000. 
“This property is to be sold at auction and I have been instructed to get market feedback from all genuine buyers who attend our open house inspections, so that a very realistic reserve price can be set for the auction day,” Skelly says.
After costing $572,000 in March, the shop, at <a target="_blank" title="146 Addison St" href="https://www.realestate.com.au/property-house-nsw-marrickville-107822406">146 Addison Road, Marrickville</a> has been transformed into a three-bedroom, one-bathroom abode. It had previously sold at $68,000 in 1985. Its renovation budget was $119,000.
After costing $642,500, the half-done house at <a target="_blank" title="5 Frederick St" href="https://www.realestate.com.au/property-house-nsw-st+peters-107828496">5 Frederick Street, St Peters</a>, has an Edwardian facade with modern home behind it. Its renovation budget was $134,000.
Louisa Gatto, its Century 21 Natoli Real Estate listing agent, says our instructions are that the property will be sold at auction.
“We aren’t giving a price guide on this property as there are no recent sales in the area that are comparable.
“The home is unique in design and will be sold fully furnished with quality inclusions,” she says.
Price guides were provided by agents marketing the properties featured on the Channel 9 series The Block, along with depreciation reports.
For expert commentary and analysis on lessons to be learnt from property reality TV, <a target="_blank" href="https://register.propertyobserver.com.au/lights-camera-auction/">download our e-book Lights, Camera, Auction!</a>
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DIY price estimates for The Renovators' six offerings

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Though none of the major banks will own up to creating the leaked buildings “blacklist”, bloggers have urged the unnamed bank to publish the list of more than 370 buildings. 
Westpac says it does not have a blacklist but judges applications on a case-by-case scenario. 
The Commonwealth Bank says it has a “watchlist” of developments that require extra care for credit and valuations but does not have a blacklist of buildings it will not finance in Victoria or elsewhere. 
NAB says it does not have a blacklist and judges each case on its merits. 
ANZ also denied keeping a blacklist.
"We don't keep a blacklist of properties. Lending for property is assessed on a case-by-case basis and is dependent on a number of factors, including how the loan will be serviced, the level of equity the customer has, the value of the asset for which the loan is used, as well as the resale value of the property," a bank spokesperson says.
The general response from bloggers and those on Twitter has been extremely positive, with the banks complimented for their prudent approach and for making it harder for developers to sell dodgy projects. 
The<a href="https://www.propertyobserver.com.au/news/bank-s-blacklist-bans-finance-for-373-buildings/2011091251504?source=flicker1" title="Blacklist" target="_blank"> list of 373 apartment projects was leaked to The Age</a> by mortgage brokers, but the newspaper said it was unable to publish the list for legal reasons. <a target="_blank" href="/news">Mortgage brokers have said their services are more important than ever.</a> 
“It would be good if some public-spirited person would get hold of the bank lists and publish them so the hoi polloi would know what to avoid,” commented EDwardKelly on The Age’s website.
 
“The only problem I have with this approach is that the lists aren't publicly available. Sounds like a sensible approach to me, protects the consumer (but only if they aren't already locked in) as well as the bank, so why not go one step better and get the information out there for all to see so people don't get caught out?” commented another reader.
“What bothers me about this is the large number of people within the cone of silence that have access to this list and know not to go near the place, but there will still be real estate agents trying to sell the apartments to poor sods out there without this crucial info,” added another concerned reader.
Some of the blacklisted projects part of the government's National Rental Affordability Scheme, <a target="_blank" href="/news">which has drawn the ire of charity group Mission Australia.</a>
On Twitter, Steve Kenna from buyers and sellers agents The Real Estate Helpers said news of the list was “good information for agents selling apartments or buyers looking at buying one”.
Gemma from Sydney commented that it was about time that “shoddy developers were called out”. 
“Sure, people need housing and in their rush to secure a place will try and buy anything no matter how badly made or ugly. The banks are doing them a favour. But how to sort out the fact that only the wealthy can now live in the city? Everyone who works there or around there has to commute because they are being pushed further and further out,” she commented.
“Good on banks,” said a reader from Sydney.  “If you go to Pymble (in Sydney), there are so many new buildings just dumped along the Pacific Highway, while the traffic is getting worse and worse. Most of these new apartments are unaffordable.”
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Bank urged to publish building blacklist

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Asia-based buyers continue to invest in the Sydney CBD, with Chinese conglomerate HNA Group the latest to buy prime commercial real estate, following its purchase of 1 York Street for $117 million from Colonial First State.
The 22-storey building formed part of the CFS’s unlisted direct property investment fund and has a net lettable area of 18,400 square metres.
It was acquired by CFS from AMP Asset Management in June 2001 for about $78 million.
AMP Society acquired the building in 1994 as part of a $544 million purchase of UK-based Hammerson Plc's Australian commercial real estate portfolio.
The sale price reflected an initial yield of 8.5% with the deal negotiated by Vince Kernahan, Jon Chomley and Andrew Reed of Colliers International with Aurelio di Napoli from DTZ Sydney advising HNA together with Linda Zhu of DTZ’s Sydney-based China desk.
It follows CFS’s listed Commonwealth Property Office selling 259 George Street in July to the Singapore-based Tay family for $395 million.
Also in July, Singapore's K-REIT fund bought a half share of Mirvac's 8 Chifley Square for about $169 million.
Further purchases are likely from HNA with the group planning to spend around $190 million on real estate purchases in Australia. The company has more than $10 billion in assets under management.
Richard Li, a global investment manager with HNA Group, was reported in The Age as saying the strength of the economy made Australia an attractive place to invest, and ''given the excellent market conditions, HNA is expected to purchase further assets in the future''. The HNA Group is the parent company of Shanghai-based Hainan Airlines.
The York Street building was constructed in 1973 and is a B-grade office building comprising 22 levels of office accommodation, ground floor lobby and parking for 125 vehicles.
 
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Chinese investors snap up Sydney office tower for $117 million

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Buyers have snapped up 34 apartments off the plan out of an available 45 in the Endeavour block at the Breakfast Point masterplanned development in Sydney’s Canada Bay over the weekend.
The Endeavour building forms part of the new Harbour precinct of Breakfast Point and is due for completion in early 2013.
It is one of four unit buildings to be constructed in the Harbour precinct of the development, located on the southern shores of the Parramatta River.
Endeavour's 45 apartments include a mix of layouts: one bedroom plus study, two bedrooms, two bedrooms plus study, three bedrooms and two double-level penthouses with house-like proportions. Endeavour will be completed late next year.
One- and two-bedroom apartments sold from $545,000, three-bedroom apartments sold for $1.3 million each and a penthouse sold for $2.1 million.
Upon completion in 2016, Breakfast Point, the 52-hectare waterfront development, will accommodate 1,865 homes and house up to 5,000 people.
In May, the $2 billion project in reached the $1 billion sales milestone with more than 1,300 homes and apartments sold over the past 11 years by its joint developers Rose Group and Cbus Property, the national construction industry superannuation fund.
<img src="/images/stories/breakfastpoint3.jpg">
The sale of the Endeavour apartments follows 70% of units in another Harbour precinct block, Acacia, selling off the plan in May. 
All four buildings within The Harbour precinct are named after ships that played major roles in the discovery and settlement of Sydney.  A nautical character will be reflected in all of the buildings. 
The Harbour precinct will be enclosed by luxurious gardens and also features The Pier, which includes a residents-only 25-metre horizon lap pool, which flows into a lagoon pool, timber sun deck and a white shingle roof pavilion. 
Some of the Endeavour apartments have views across the Parramatta River.
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Buyers say good morning to Breakfast Point development

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Few estate agents working in regions that are the first recipients of the government’s National Broadband Network are promoting it in their listings.
Those who are mentioning it are taking a long-term view to it adding value to connected properties over time.
Kiama Downs and the township of Minnamurra – about 120 kilometres south of Sydney – were among the first sites on the mainland to benefit from the rollout of the government’s super-fast wholesale broadband project.
Realestate.com.au lists 406 properties for sale in the Kiama region, and just five of these mention having access to the fibre-based network as one of the features of the property.
Robert Perea from Raine &amp; Horne Kiama is promoting the NBN in his listings.
But he says its “early days” regarding the NBN in the Kiama area. 
“The NBN, while generating interest, is a great service, but I don’t believe will adversely affect prices in the area of interest in this listing or future listings,” he says.
<img src="/images/stories/renfrewroad.jpg">
Agents Joe Dingham and Neil Campbell from Ray White Gerringong, about 10 kilometres south of Kiama, both mention access to the broadband network in their listings at 240 Willowvale Road (pictured below) and 46-48 Renfrew Road (pictured above).
<img src="/images/stories/willowviewroad.jpg">
Dingham tells Property Observer although no one as yet has contacted him specifically to enquire about the NBN he expects it will definitely add value to properties.
Eight of the 145 properties in Willunga, about 50 kilometres south of Adelaide, listed for sale on realestate.com.au mention broadband in their write-ups.
Deborah Tucker from Raine &amp; Horne McLaren Vale is selling four lots of land at Magnolia Court, 5 Norman Road, Willunga between $285,000 and $295,000.
She writes: “NBN - (the fast broadband) has been brought to the entrance to Magnolia Court - ready for future connections.”
<img src="/images/stories/waverleydrive.jpg">
Neville Brown from Michelmore Ollwitz First National is selling a two-bedroom house at 13 Waverley Drive, Willunga, asking $700,000. He mentions the house being “National Broadband Network connected” as one of its features.
Brown told Property Observer that while no prospective buyers have enquired about the NBN, he believed it would be a distinct advantage once there is more awareness.
Internet provider Internode recently reported that its first NBN customer, freelance photographer Paul Gosney and his family, relocated from Sydney to Minnamurra after learning that it would one of the first release sites for the network.
Gosney says the NBN will make it easier for him to send files overseas for post-production.
Not everyone is singing the NBN’s praises. 
Opposition spokesman for communications and broadband Malcolm Turnbull has expressed concerns about the government stringing fibre cables overhead rather than underground in a bid to save money on the multibillion-dollar project. 
“My fear is that as the NBN faces blowouts in both the cost and time taken to complete the project, the overwhelming urge will be to override the wishes and interests of local communities and string fibre overhead,” Turnbull says.
“[Broadband Minister Stephen] Conroy has already sacrificed economic responsibility in his rush to build this network, now he is going to trample over the rights of local communities to have a say in the preservation of their own environment and local amenity.”
The other towns where the NBN has been rolled out are Armidale in NSW, the whole of Tasmania, parts of Brunswick in Melbourne; and parts of the Townsville suburbs of Aitkenvale and Mundingburra.
Midway Point, an outer suburb of Hobart, was the first location to get NBN access in August last year. Out of the 312 properties Midway Point listed on Realestate.com.au, 15 mention access to the fibre-based network.
In an interview with the Australian Financial Review NBN Co chief executive Mike Quigley says consumers should know by Christmas whether they will get access to the broadband network within in the next three years.
Main picture courtesy of Tourism New South Wales
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Agents slow to spruik fast broadband

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You know, I'm always intrigued how many investors place little or no importance upon the skills required to put together a top property deal.
They will spend plenty of time researching the market and arranging finance but will often get emotionally involved and want to conclude the negotiating phase as soon as possible.
1. Remember, it's just a deal
Therefore, never allow yourself to become emotionally attached to whatever you're negotiating for. You need to care — not that much!
Otherwise, you'll end up over-paying for that property.
2. Information is the key
The more you know about the other party's needs, wants and aspirations, the greater your strategic advantage becomes. And the secret is to discover all of this before the formal negotiation actually begins.
3. You always have some degree of power
Power is very much based on perception. And simply creating the illusion of having other options will always make whatever you're proposing seem far more appealing. But there are several other aspects of power you can easily master as well.
4. Gain from their investment
The more you can have the other party make as an investment of their time, money or effort into the deal, the more unlikely they are to walk away from your final proposal when the time comes for you to make it.
5. Time can change everything
Most beginners tend to treat negotiating as an "event". However, the pros realise that it is very much a "process".
And the closer you can move the other party towards their deadline, the larger will be the concessions you start receiving from them.
Bottom Line: You need to be able to treat negotiating is a game — a very serious game! But a game nonetheless, with its own set of rules, which you can very quickly learn.
Chris Lang is an advisor to commercial property investors and gives keynote speeches and regular seminars on the best way to invest in commercial property. He maintains a blog, <a href="https://his-best.biz/" title="Chris Lang's blog" target="_blank">his-best.biz</a>, which he updates regularly about the best way to get the most out of your commercial property investment.
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