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

Joel Robinson

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

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

DVB Projects to launch second Broadbeach apartment tower as demolition commences

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

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

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

Boutique Gordon townhomes now come with a BMW iX3 50

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

Vitale breaks Byron Bay records with EADE sales flurry 

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

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

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

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

Every First Home Owner Grant for new property by state

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

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

Staff Writer

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

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

alisonwarters@gmail.com

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

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

Ellen Walker

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

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

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

<html><body>
Macroeconomic factors such as interest rate cuts play a more influential role in boosting housing activity than state-based support schemes, according to research by Deutsche Bank. 
A month after the Queensland government launched its $10,000 Building Boost program aimed at encouraging the building of new homes, the bank says the impact of similar state schemes in Victoria (up to $26,500 for construction of a new home in regional areas) and South Australia ($8,000 to home buyers for the construction of a new home) has been mixed. 
The bank compared the impact of dwelling approvals in Victoria and South Australia against approvals in New South Wales, Queensland, Western Australia and Tasmania.
<img src="/images/stories/dbsept61.gif">
According to the bank, the results suggest that the subsidies implemented in Victoria helped to boost housing construction activity relative to other states. On the other hand, the subsidy available in South Australia is yet to have a material impact on relative activity. 
“In Victoria’s case, other states saw a rebound in activity at about the same time that the Victorian subsidy was introduced. However, the rebound in Victoria was stronger – and was sustained for longer. 
“By contrast, activity in South Australia has broadly tracked activity in other states since the introduction of the new home construction subsidy in September last year”. 
In both cases, the evidence suggests that broader macroeconomic factors play a more influential role on housing activity than state-based support schemes with dwelling approvals closely linked to changes in the cash rate. 
As an obvious example, the recovery in dwelling approvals after October 2008 was associated with the reduction in the cash rate to an "emergency" level of 3%
“The sum of the above suggests to us that the Queensland government’s building boost program may offer some limited support for dwelling construction, but the evidence overwhelmingly suggests that broader macroeconomic conditions, particularly the level of interest rates and by implication housing affordability, is a far more important determinant of housing construction,” the report says.
The findings come on the back of the government recently admitting that it had not examined long-running claims that the introduction of the first-home owners grant may have resulted in house prices appreciation, thus doing little to alleviate affordability worries.
</body></html>

lschlesinger-FZcF9M3vE6

Interest rates affect housing market more than government grants

<html><body>
The medium-term outlook for the Queensland housing market is rosier than that of NSW, according to analysis by Deutsche Bank.
Currently Queensland ranks as the weakest housing market on the bank’s three key metrics – approvals are currently running about 33% below their long-run average pace, house prices have fallen by 3.6% over the past year and “ownership transfer costs” have fallen by 24.9% over the four quarters to March 2011 compared with the four quarters to March 2010.
<img src="/images/stories/dbsept6.jpg">
However, according to Deutsche Bank economists Adam Boyton and Phil O’Donaghoe, the current weakness in Queensland is more a result of house price corrections outside of Brisbane such as the Gold Coast east market (identified by the RBA as having the third-highest number of housing arrears of any region in Australia).
Brisbane, according to the bank’s housing analysts, is likely to undergo a much shallower house price correction, since the market came off its peak in June 2010.
In comparison, the Sydney market has been undergoing a much longer price correction dating back as far as 2003, reflecting excesses that had been building up over a number of years.
Besides a smaller, short-term house price correction, Deutsche Bank says there are two additional features that may lead to some alleviation of the recent weaknesses in Queensland.
“First, reconstruction efforts following the Queensland floods in late 2010/early 2011 should provide some respite. The Queensland Treasury have estimated that around 3,000 homes were rendered non-liveable as a result of the floods and Cyclone Yasi, with more than 50,000 dwellings were damaged to various degrees,” the bank says.
“Current dwelling approvals run at a little over 2,000 per month in Queensland – the long-run average is a little over 3,000.”
The second factor is the introduction of the Queensland Building Boost program at the beginning of August, which the bank says has the potential to cover up to 14,000 new homes.
According to Deutsche Bank, Victoria has had the strongest housing market over the past year, with approvals currently running around 40% above their long run average pace. While Victorian house prices fell by 2.0% over the year to the second quarter of 2011, this follows a peak increase of 26.3% year on year in the first quarter of 2010 and ‘ownership transfer costs’ rose by 3.8% in the four quarters to March 2011 compared to the four quarters to March 2010.
</body></html>

Queensland housing prospects stronger than NSW: Deutsche Bank

<html><body>
Auction bookings are suggesting the volume of properties to traditionally hit the market in September to be auctioned in October are not as strong as we would expect.

Importantly, though, numbers are increasing and will continue to increase sharply over the next few weeks.

In 2010, the weekend following the October long weekend was Cooley Auctions’ first spring super Saturday with 67 auctions booked that day. This year for that same weekend we have 36 bookings to date, although there are still a few days left to book for that same weekend

It seems either the stock is coming later in 2011 or it’s not coming at all. What we’re experiencing now is a steady market where properties trade, great agents shine and agents that overprice properties at the time of listing give themselves an almighty task of selling any time soon. 

The motivation of a seller is critical in deciding what stock to take on.

A client of ours said to me last week that the listing presentation is as much about them interviewing the client as the client interviewing them so they can decide if it’s a fit for both parties.

The mid-to-upper end of our market has been the most affected recently.

Buyers are extremely picky on what properties they make offers on and values, in our experience, are dropping to a minimum of 10% to 15% and in some cases 20% of their previous sale price.

Damien Cooley is the founder of <a href="https://www.cooleyauctions.com.au/" title="Cooley Auctions" target="_blank">Cooley Auctions.</a>
</body></html>

damiencooley-AaMfa6CzJx

Spring housing stock will either come to market late or not at all

<html><body>
The change of season brought some welcome warmth at the weekend, drawing people to Melbourne’s many auctions and open for inspections.
However, though crowds were out in force, there was little improvement in auction results, with the city once again achieving a clearance rate of just below 60%.
This uneventful start to the season comes as little surprise in light of the caution shown by Melbourne buyers in recent months, particularly with regard to flawed properties, of which there are many in stock at present.
With auction volumes set to increase by more than 30% in the next fortnight conditions are expected to improve, including an improvement in the quality of stock on offer.
But despite the imminent increase in stock in coming weeks the real change in Melbourne’s auction market may take some time to materialise.
Auction campaigns typically operate over three to four weeks, which means there will be a large number of auctions scheduled in the three weekends between the AFL grand final and the Spring Racing Carnival, and further activity in November through to December 17.
The interruption of these significant social sporting events will dictate the auction calendar in October and early November and redistribute the volume of auctions for the earlier part of the season.
Greville Pabst is CEO of the <a target="_blank" title="WBP Property Group" href="https://www.wbpproperty.com/">WBP Property Group</a>.
 
</body></html>

gpabst-nAfzC8fgsR

Anticipation builds for post-grand final auction run home

<html><body>
The Poms might be coming! Monthly visits to the overseas section of the top UK property portal rightmove.co.uk have passed the 2 million searches mark for the first time.
Rightmove Overseas says that 52% of its international destinations had an increase in searches during July. Victorian and South Australian properties on the website both recorded jumps in viewing. The NSW and Queensland listings fell in viewing popularity, although the viewing numbers are higher than Victoria and South Australia.
The greatest increase in searches occurred for British Columbia in Canada, with a rise of 64% month-on-month. The big winner was France, with three different regions receiving 40% more searches than in June.
Some of the biggest falls occurred for four Portuguese regions, with Costa Verde losing 23 places and dropping to 136th place on the website’s charts.
“The British appetite for property abroad shows no sign of slowing down as over 2 million searches were performed on Rightmove for overseas property in July, a record number for the site,” rightmove.co.uk says.
“Even in this economic climate, and maybe because of it, Brits are still chasing the overseas dream,” Shameem Golamy, head of overseas at Rightmove, suggests.
On average, Rightmove Overseas receives 80,000 unique visitors a week and generates more than $1.7 million overseas property searches a month for advertisers.
August is a historically strong month for search activity on Rightmove Overseas as British buyers return from their summer holidays abroad with dreams of capturing the experience by owning property where they were staying.
Top 10 Climbers and Fallers this month (areas with &gt; 100 searches a day)
<table style="width: 400px;" cellpadding="0" cellspacing="0" border="0"><tbody>
<tr>
<td>
Top 10 Climbers
</td>
<td>
% Change Searches
</td>
<td valign="bottom" nowrap></td>
<td>
Top 10 Fallers
</td>
</tr>
<tr>
<td valign="top" nowrap>
British Columbia, Canada
</td>
<td valign="top" nowrap>
89.06%
</td>
<td valign="bottom" nowrap>
 
</td>
<td valign="top" nowrap>
Costa Verde, Portugal
</td>
</tr>
<tr>
<td valign="top" nowrap>
Ontario, Canada
</td>
<td valign="top" nowrap>
87.89%
</td>
<td valign="bottom" nowrap>
 
</td>
<td valign="top" nowrap>
Punjab, India
</td>
</tr>
<tr>
<td valign="top" nowrap>
Los Angeles County, United States of America
</td>
<td valign="top" nowrap>
55.96%
</td>
<td valign="bottom" nowrap>
 
</td>
<td valign="top" nowrap>
New South Wales, Australia
</td>
</tr>
<tr>
<td valign="top" nowrap>
Aude, France
</td>
<td valign="top" nowrap>
52.41%
</td>
<td valign="bottom" nowrap>
 
</td>
<td valign="top" nowrap>
Silver Coast (Costa de Prata), Portugal
</td>
</tr>
<tr>
<td valign="top" nowrap>
Calvados, France
</td>
<td valign="top" nowrap>
52.02%
</td>
<td valign="bottom" nowrap>
 
</td>
<td valign="top" nowrap>
Sardegna, Italy
</td>
</tr>
<tr>
<td valign="top" nowrap>
South Australia, Australia
</td>
<td valign="top" nowrap>
49.93%
</td>
<td valign="bottom" nowrap>
 
</td>
<td valign="top" nowrap>
Lisboa, Portugal
</td>
</tr>
<tr>
<td valign="top" nowrap>
Herault, France
</td>
<td valign="top" nowrap>
47.10%
</td>
<td valign="bottom" nowrap>
 
</td>
<td valign="top" nowrap>
Sicilia, Italy
</td>
</tr>
<tr>
<td valign="top" nowrap>
Berlin, Germany
</td>
<td valign="top" nowrap>
45.90%
</td>
<td valign="bottom" nowrap>
 
</td>
<td valign="top" nowrap>
Piemonte, Italy
</td>
</tr>
<tr>
<td valign="top" nowrap>
Black Sea North, Bulgaria
</td>
<td valign="top" nowrap>
43.50%
</td>
<td valign="bottom" nowrap>
 
</td>
<td valign="top" nowrap>
Queensland, Australia
</td>
</tr>
<tr>
<td valign="top" nowrap>
Victoria, Australia
</td>
<td valign="top" nowrap>
42.40%
</td>
<td valign="bottom" nowrap>
 
</td>
<td valign="top" nowrap>
Lisbon and Lisbon Coast, Portugal
</td>
</tr>
</tbody></table>
</body></html>

jchancellor-FAypfDUnLy

Pommy sun-seekers look to put down roots in Australia

<html><body>
One year after the snappy sale of 106 apartments in the Hampton hotel redevelopment in Potts Point, the developers have been unable to repeat its success with a further nine offerings.
The four cheaper offerings – the studio and three one-bedroom apartments – did sell at recent auction, but below the prices the listing agents Ballard Property group had hoped to secure.
All five two-bedroom apartments were passed in, though Ballard senior sales executive Charlie Brendon-Cook says there is interest in them.
The two-bedroom apartments were passed in at prices between $1.1 million and $1.29 million, with three of them passed in on a vendor’s bid.
<a href="https://www.propertyobserver.com.au/developments/hampton-hotel-redevelopment-offers-nine-more-units-a-year-after-buy-up-frenzy/2011082651303" target="_blank">Before the auction</a> Brendon-Cook said Ballard hoped to secure about $400,000 for the one studio offering, but it sold for $376,000. In last year’s release of the 112-apartment initial offering, which Brendon-Cook suggested were of a similar fitout standard, the pricing for studios began at $385,000. He says the results were very reasonable considering the current Potts Point market.
“There are studios around here that go for $280,000,” Brendon-Cook says. “Not many go up in the fours.”
Prices for the one-bedroom apartments ranged at last month’s auction from $455,000 to $650,000. Brendon-Cook says “the vendor was happy to sell for that price”.
The Hampton hotel was owned by the Nemeth family, who released the original 112 through CBRE and retained 13, including the four penthouses, in June last year.
The Nemeth family entered into a joint venture with residential developer Toga Group on the project. More than 2,000 buyers lodged expressions of interest for the Bayswater Road apartments. By the end of the launch in June 2010, 106 had been sold. Some 70% were sold last June to investors.
The family decided to release the nine non-penthouse apartments through Ballard, and they were auctioned by Sydney auctioneer Damien Cooley last month.
The Toga Group paid $17 million earlier this year for the Mansions Hotel, set diagonally opposite, with plans to build apartments above the pub.
</body></html>

cknowlton-QnEa6ntUYP

No sellout for Hampton development's second offering

<html><body>
The Sydney motor vehicle dealership Damelian Automobile has been placed in receivership just two weeks after being unable to sell its redundant Parramatta Road car yard holdings.
Ferrier Hodgson partners Steve Sherman and Jim Sarantinos have been appointed receivers and managers after the prominent Parramatta Road car dealership was put into receivership today.
It was founded in 1978 by Rick Damelian.
The three redundant offerings were 587-595 Parramatta Road, Petersham, which was passed in on a $2.4 million vendor bid, 680-716 Parramatta Road, Petersham, which was passed in with no bid, and 509-529 Parramatta Road, Leichhardt, which was passed in on a $1.9 million vendor bid when auctioned last month through Knight Frank by auctioneer Damien Cooley. They were listed through Knight Frank agents Nick Saba and Eugene Evgenikos.
Located on Parramatta Road, the offerings consisted of a showroom, office and workshop on sites totalling about 4,700 square metres.
It was offered with vacant possession at its August 25 Knight Frank auction.
The appointment of receivers came after an extended period of support by the creditor, who is owed about $80 million by the car dealership. During this time, the Damelian group had been working towards a possible restructure and reduction of its debt.
Steve Sherman says the receivers will engage with the manufacturers of cars sold by the group, including Honda, Suzuki, Renault, Citroen, Fiat and Alfa. The Skoda dealership is not subject to the receivership.
Sherman says the servicing of vehicles has been suspended until further notice.
</body></html>

Sydney Damelian car dealership in receivership two weeks after failing to sell

<html><body>
Mortgage broker AFG has recorded a 21% surge in mortgage approvals in August, with investors and first-time buyer numbers on the increase.
Mortgage approval numbers reached an 18-month high in August.
AFG brokers successfully lodged 7,198 mortgage applications, with a combined value of $2.76 billion.
In July, AFG brokers lodged just over 5,900 applications with a combined value of $2.29 billion.
The August numbers are the first sign of uplift in the housing market – AFG has more than 2,000 mortgage brokers and a mortgage book in excess of $65 billion.
While August figures are typically stronger than previous months, August 2011 figures trended well above seasonal expectations, AFG says.
The average size of mortgages fell from $386,000 to $384,000, with only WA recording an increase from $371,000 to $382,000.
The percentage of mortgages for investment purposes increased from 35.6% to 36.5% while those from first-time buyers increased from 13.6% to 13.8%.
NSW led the nation both in terms of investor and first-time buyer activity over August.
Investors made up 40.8% of the NSW market followed by 38.1% in Victoria, 34.4% in Queensland, 33.5% in South Australia and 33.4% in WA.
First-time buyers accounted for 15.7% of mortgages written in NSW, followed by WA (14.8%), Victoria (13.3%), Queensland (13.1%), and South Australia (9.3%).
Refinancing activity remained strong comprising 38.2% of all mortgage approvals as property owners took advantage of a highly competitive lending environment. This is slightly down on the 39.1% recorded in July. 
“Borrower expectations about interest rates shifted significantly during August. We’re seeing a lot of refinancing as borrowers take advantage of discounted products,” says Mark Hewitt, AFG’s general manager for sales and operations. 
“But we’d like to see lenders create more flexible and competitive products for the new home building sector. It isn’t just consumer confidence that is holding back this sector, it is also the availability of attractive finance options.”
</body></html>

Mortgage approvals at 18-month high

<html><body>
Estate agent John McGrath expects the recent economic events that have caused a heightened level of uncertainty will prove problematic for high-end property during the spring quarter.
However he expects most markets are at the beginning of a long-term growth cycle.
“Currently the market appears to be taking a breather,” McGrath says.
“A pause in any growth cycle should always be considered a positive. People are very conscious about debt and are acting cautiously, demand is greatest for the most affordable properties sub -$750,000.
“They are experiencing great buying opportunities,” he says.
McGrath, who has been selling real estate since the early 1980s, says affordability was a key issue for buyers in his spring review.
He notes there have been “green shoots” in increased property demand in many regional areas.
“Some of the hardest-hit markets such as Bowral, Ballina and the Gold Coast are receiving more new buyer enquiry than they have for several years – a good sign that smart buyers are picking the bottom.
“Buyers continue to look for value, however they are now starting to purchase when they see it.
“The backlog of buyers is starting to create activity in markets such as Bowral where demand has increased noticeably over the last quarter, where our office reports significant new interest from Sydney investors seeking long term capital growth,” McGrath says.
“Newcastle has become a popular regional market as it undergoes a fundamental change from its working class heritage to a fast growth business community with young Sydney families realising the lifestyle and better value for money in Newcastle, as a very appealing sea change.
“Another strengthening market is the Blue Mountains, where 70% of our buyers are coming from Sydney or outside the locality,” he says.
“The main Blue Mountain buyers are downsizing empty-nesters and young couples from Sydney seeking excellent value with strong prospects for capital gains.”
McGrath notes with people less confident about taking on large amounts of debt, his offices are finding higher competition on the more affordable homes.
“Buyer demand, although weaker across the board, still outweighs the lessening supply. Upgraders and investors are still active.”
His agencies have noticed an increasing number of young people choosing to buy an investment property ahead of their first home.
“People still want to enter the market and if they can’t afford it, they will stay at home longer, save for a bigger deposit, or buy with family or friends.”
He says strong rents were driving investor demand.
“Many more people are using self-managed super funds to buy property – latest tax office figures show a 13% increase in property investment via SMSFs over the past year.”
In July the McGrath Estate Agents group reported the sale of 5,993 properties over the financial year that yielded $5.7 billion in transactions.
The three-state McGrath group tally eclipsed the previous financial year, when 5,095 properties were sold for a $5 billion tally.
The agency had opened four new offices to bring the company’s tally to 39.
Its average sale price eased from $981,000 to $951,000 between the two financial years.
“Property remains an excellent asset class for long term investment and definitely offers more stability than the volatile share market,” McGrath says.
“Once confidence returns Australia will be in good shape.
“Buyers have been concerned about interest rates moving upwards and we really need to see a rate reduction that puts the steep rises of the past 18 months behind us,” McGrath adds.
John McGrath’s Top Regional Picks
<ul>
<li>
Balgownie </li>
<li>
Broadbeach Waters (Gold Coast) </li>
<li>Burleigh</li>
<li>Waters Caves Beach </li>
<li>Ettalong </li>
<li>Hamilton </li>
<li>Katoomba </li>
<li>
Kingston (ACT)</li>
<li> Lennox Head
</li>
<li> Town Beach</li>
</ul>
John McGrath’s Top Metro Suburb Picks (Houses)
<ul>
<li>Abbotsford </li>
<li>Breakfast Point </li>
<li><a target="_blank" title="Frenchs Forest" href="/news">Frenchs Forest </a></li>
<li>
<a target="_blank" title="Freshwater" href="/news">Freshwater</a> </li>
<li>
<a target="_blank" title="Haberfield" href="/news">Haberfield</a> </li>
<li><a target="_blank" title="Northbridge" href="/news">Northbridge </a></li>
<li>
<a target="_blank" title="Palm Beach" href="/news">Palm Beach</a> </li>
<li><a target="_blank" title="Queenscliff" href="/news">Queenscliff </a></li>
<li><a target="_blank" title="Seaforth" href="/news">Seaforth </a></li>
<li><a target="_blank" title="Sylvania Waters" href="/news">Sylvania Waters</a></li>
</ul>
John McGrath’s Top Metro Suburb Picks (Units)
<ul>
<li><a target="_blank" title="Bronte" href="/news">Bronte </a></li>
<li><a target="_blank" title="Cremorne Point" href="/news">Cremorne Point </a></li>
<li>Dawes Point </li>
<li><a target="_blank" title="Earlwood" href="/news">Earlwood </a></li>
<li>
<a target="_blank" title="Kensington" href="/news">Kensington</a> </li>
<li><a target="_blank" title="Newtown" href="/news">Newtown </a></li>
<li><a target="_blank" title="Parramatta" href="/news">North Parramatta </a></li>
<li><a target="_blank" title="Pyrmont" href="/news">Pyrmont </a></li>
<li><a target="_blank" href="/news">Sans Souci </a></li>
<li><a target="_blank" title="Wollstonecraft" href="/news">Wollstonecraft</a></li>
</ul>
</body></html>

John McGrath says property market 'breather' the start of long-term growth

<html><body>
Sure, we all enjoy watching those renovation shows that keep popping up – The Block, Top Design, and the new kid on the block, The Renovators. Celebrities such as Scott Cam and Jamie Durie guide us through renovations week after week and we’re glued to the set.
Where’s the "wow" factor?
The TV shows focus on the emotions and challenges of participants and the final project always has a "wow" factor. But have you noticed the lack of "wow" factor when it comes to turning profits? It seems there’s more blood, sweat, and tears than dollars by the end of the show.
As much as we love watching these shows, potential investors shouldn’t get discouraged by the lack of financial results seen on TV. There are still plenty of good buys and opportunities for property investors to renovate and make a profit if they educate themselves first.
Show me the money! 
Investors should take to heart the importance of buying the right property – in the right place, for the right price, with the right renovation rules – to make sure they make a pretty profit, as well as create a pretty house. Sometimes women make the mistake of getting emotional about a property and start thinking everything they do will add value instead of crunching the numbers first to make sure the project is profitable. Why not get a valuation of a property before renovating to make sure you don’t overspend?
In addition, don’t be taken in by the escapism of the not-so-real reality renovation shows where contestants are often rewarded for creative, over-the-top, and at times, expensive ideas. Sometimes it’s the simple and practical renovations that make the most sense. For example, painting, replacing handles on cabinet doors, or cutting back overgrown gardens aren’t glamorous, but give you a lot of bang for your buck.
And remember, while renovation TV shows are entertaining they do not show the practical steps of research and analysis that is needed in order to make a profit. For example, property investors must learn how to choose the right suburb, set a budget, utilize floor space by reconfiguring a layout, what order to complete projects, and how to choose the right trades people.
Keep in mind, unlike renovation shows on TV, the goal of many property investors is not to immediately turn around and sell property, but to hold on to properties as capital investment and to generate income from rent. In this case, renovating properties can be a good idea in this tighter, more profitable rental market as a way to increase the rent and generate more income. In fact, some investors spruce up a property, raise the rent, get a new valuation from the bank, and then borrow against the increased value to fund another property purchase.
Remember, there’s money to be made in any market, but the key is to buy well and renovate sensibly.
Rachel Barnes is a founder of <a target="_blank" title="Property Women" href="https://www.propertywomen.com.au/go/property-observer/">www.propertywomen.com.au</a>, a website for and by women investing in property.
</body></html>

Latest Expert Insights

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

Guides

Editor's Picks

Guides

Developments

New apartments

New townhouses

News

Latest Expert Insights

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

Guides

Editor's Picks

Receive the latest news stories to your inbox

Guides

Developments

New apartments

New townhouses

News