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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{yoogallery src=[images/stories/september2dover]}
Channel 7 Morning Show co-host Larry Emdur and his wife, Sylvie, have spent $6.8 million upgrading to a mansion with dramatic oceanfront cliff-top views over the Pacific.
The breathtaking Dover Heights property presents coastal living on a grand scale with infinity pool.
It sold through Anthony Puntigan at Bradfield &amp; Prichard.
It has a glamorous double-height foyer with twin chandeliers and a sweeping staircase. The two-storey house has large living and dining areas, a state-of-the-art kitchen, home office, main bedroom with a marble en suite fitted with a steam room and spa overlooking the ocean. There are two more king-size bedrooms both with en suites, along with a gymnasium with a retractable roof. There is a self-contained apartment suitable for guests or staff.
It was sold by the veteran rag trader and Australian Horizons chief executive Jeff Moss and his wife, Lisa.
On 1,062-square-metre of cliff-top land, the recently renovated residence was bought through Puntigan by the Mosses in February 2007 for $7.1 million from the widow of medico Robert Diamond, Elaine Diamond.
In 1996, the Diamonds bought the Hunter Street property for $1.7 million and demolished an old house.
It was initially listed in 2010 with hopes it would sell for more than $8.5 million, but the price wasn't right.
The Emdurs have owned at Dover Heights since 1994 when they spent $770,000 on another cliff-top property, but it’s only 417 square metres.
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jchancellor-FAypfDUnLy

Larry Emdur says good morning to breathtaking cliff-top property

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The Brisbane home that no one will buy finally got an acceptable offer last month, but the purchaser’s finance hasn’t come through.
So the house that’s been Australia's most heavily discounted property – 1350 Wynnum Road, Tingalpa – is back on the market seeking $380,000 offers.
The modest post-war home on an 1,158-square-metre block started its listing last November with $700,000 hopes.
The deceased estate was recently under contract, but it fell over at 5pm on August 31 with the buyers unable to get finance, its LJ Hooker listing agent Janelle Randall advised.
The price discounting situation is now not unusual, as property analyst Louis Christopher of SQM Research says there’s a house in White Beach, Tasmania with an even bigger 49% discount to its initial $780,000 asking price.
Discounting remains rife across the country, many vendors being forced to accept offers far lower than they would have last year. The latest RP Data-Rismark data suggest sellers need 55 days and a 7.2% discount to find buyers.
“The owner has believed in me from day one,” Randall says.
Her sales situation was due to a combination of factors that start with it being on six-lane road.
“I could write a book about it,” she says, adding that she had been approached to have the property appear on Andrew Winter’s Selling Houses Australia Extreme.
“There have been multiple offers.
"But it's on a main road so it's always going to have its challenges and it was probably listed too high in the beginning,” Randall says.
“It’s perfect for exposure … it’s just getting the approvals for a business.
“Not everyone wants Wynnum Road.”
She didn’t mention it has a quarry behind it and an industrial estate across the road.
"Obviously it would have sold very quickly in 2009 if it had gone on at a more reasonable price.
"The current falling market has made things even worse,” Randall says.
“I know all the property in the suburb,” she says. “It’s not a premium price, but they would like to get what they want.
In June RP Data estimated the house’s value at about $394,000. RP Data says the median house price in Tingalpa was currently about $425,000
A nearby 1248 Wynnum Road two-bedroom cottage sold recently for $405,000.
The property has been a regular entrant in the <a href="https://www.propertyobserver.com.au/hotspots/sqm-s-top-10-discount-list-has-little-change/2011090151389" target="_blank">SQM top 10 most discounted lists.</a>
The original asking price was at the owner's directive.
The latest RP Data-Rismark Hedonic Home Value Index showed the value of dwellings in Brisbane dropped to a median price of $420,000, which reflects a 6.6% annual drop, the worst in the country.
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Bank stops overlooked ugly duckling from selling in deteriorating Brisbane market

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A Gold Coast property spruiker who swindled $675,000 from retirees and other vulnerable investors in a Ponzi-type scheme has been sentenced to seven years in prison.
He claimed to have secured their investments with interests in units at Mount Panorama Resort, New South Wales, and properties in Fiji.
Nebojsa Jovicic, 45, from Robina on the Gold Coast, pleaded guilty in the Southport District Court to seven counts of defrauding Gold Coast and Brisbane investors, who were induced to pay a total of approximately $675,000 to his Perpetual Acquisitions Pty Ltd and Robina Properties (Qld) Pty Ltd businesses.
Both companies went into liquidation in July 2006.
The conviction follows an ASIC investigation into a purported investment scheme run by Jovicic between January 1, 2005 and May 8 2006.
In December 2006 ASIC obtained orders in the Supreme Court of Queensland restraining Jovicic from operating an unregistered managed investment scheme or carrying on a financial services business.
According to ASIC, Jovicic met with potential investors in their homes and at other venues in Brisbane, Southport and Bundaberg, promising them returns of 50% per year.
“The investors were vulnerable and inexperienced investors. The judge noted that they had modest means and their financial situations had been severely affected for the foreseeable future. Many of them are of retirement age and had borrowed through mortgages to invest. They will not get their money back and are now forced to continue working to pay off their loans,” ASIC notes. The corporate watchdog’s investigation found that “Jovicic had paid substantial funds received from investors to himself, which was used for personal expenses and large unexplained cash withdrawals. Some of the money had been used to pay the interest to other investors in a Ponzi-style scheme”. "Mr Jovicic’s conduct involved a gross breach of trust of the investors. His actions were very serious and have left his victims in difficult financial positions. His jailing should send a strong message that ASIC will act to ensure those who deliberately misuse and misappropriate investors’ money are brought to account,” says ASIC deputy chairwoman Belinda Gibson. ‘The experience of the investors in this matter should serve as a timely reminder to investors to beware of returns that sound too good to be true. Before you invest in any scheme, you should do independent checks to see how the returns are really going to be made and don’t just trust the word of the person selling you the scheme,” she adds.
Jovicic will be eligible for parole on December 23, 2013.
The Commonwealth Director of Public Prosecutions prosecuted the matter.</body></html>

lschlesinger-FZcF9M3vE6

Gold Coast property swindler sentenced to seven years in prison

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So you bought a brand-new apartment off the plan 18 months ago and now it’s coming up for completion and settlement. Do you know what to do next?  Have you organised your property manager?  What experience has your property manager had with brand-new off-the-plan properties as they can be very different to your traditional brick veneer properties to manage.
Over the years I have had the pleasure to work on many brand-new off-the-plan properties and as a property manager I love nothing more than to see a property come out of the ground at construction time and then finally see the last tradie leave the site and it be ready for occupants.
But what I have learnt over the years is that there can be a lot more work involved from a property manager’s perspective than your average house.
Firstly, who is completing the pre-settlement inspection?  Does the owner even realise he or she needs to complete such an inspection?  What do you look for? Below are some checklist items I always look out for when completing inspections for my owner clients:
<ul>
<li>Grouting and caulking of floor and wall tiles in bathrooms and laundries. What about around the taps and vanities?</li>
<li>Grouting and caulking of kitchen splashbacks and wall tiling. </li>
<li>Do all doors throughout the property open and close freely? Have door stops been fitted where required? What about the kitchen cupboards and drawers?</li>
<li>Paintwork – what is the condition? Are there any areas that require re-painting?</li>
<li>What about the floor covering? Has the carpet been fitted correctly, are there any bubbles? What about floorboards? Do any squeak?</li>
<li>Have all the appliances been fitted?</li>
<li>What about the balcony, has the perimeter been sealed? </li>
<li>Has the property had a final clean?</li>
<li>Do you have a car space? Do you know where it is?</li>
</ul>
So now the property is ready for tenants to move in.  Don’t forget the owner is entitled to complete a maintenance inspection no later than 90 days after settlement takes place.  This inspection is extremely important as it allows general maintenance items to be referred back to the builder for completion.  Failing to do this inspection could result in the owner being responsible to pay.
Also don’t forget to have an understanding of the warranty conditions for the oven, rangehood, dishwasher, taps, hot water service etc.  All products have different warranty periods and conditions – so as a property manager you need to know how they all differ.
Finally don’t forget, like anything new there will be some teething problems. Buying and living in a brand-new property is really no different to buying a brand-new car. Be upfront and let your tenants know this and remember no one has lived there before, so while a thorough inspection has taken place there may be some hiccups during the first few months of the tenancy.
Leah Calnan is the director of <a href="https://www.metropm.com.au/" title="Metro Property Management homepage" target="_blank">Metro Property Management</a> in Victoria and is the chairwoman of the REIV Property Management Chapter.
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leahcalnan-pwE6GD6KY9

Off-the-plan properties present a special challenge for property managers

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There are so many different opinions out there regarding the status of the current residential market and where it is heading, how can one make sense of it all? 
Whether you are reading the newspaper, seeing it on television news reports or reading articles by "property experts" on the internet, everyone seems to have an opinion on where the market is heading. 
It is no wonder there is no consumer confidence with so much negativity being reported in the media. What this has certainly done is made investors stop in their tracks, they are fearful in what they read and yes, things are apparently on hold. 
It has become evident from the enquiries received by our company, people are not looking to buy, but more and more are exploring another market, the property development market. Our company is taking calls on a daily basis from people wanting to know how to subdivide their own existing properties.
More than ever before, we are finding people more curious about property development and how they can get involved, maximise and add value to their existing property. Here are seven steps to follow before buying a property to develop.
Step 1
The first question you need to ask yourself is, “What is my intention with this property development project?” Meaning, are you developing the property to build and then hold onto the townhouses for rental return or are you developing the property to build and sell for a profit?
Step 2
You need to consider the purchasing structure in which you intend to buy. Depending on the purpose of the development, this will dictate the type of company structure you will need to set up. Find a specialist accountant that deals with property development transactions.
Step 3
Clearly understand your financial position, and with the assistance of your accountant, be aware of what your buying power is. Knowing how much you can afford to spend will steer you into certain suburbs.
TIP: This is a business transaction, so do not make decisions with your heart.
Step 4
Do your research on the suburbs you are interested in, physically go out and see what the market is doing in the area you are looking at buying, check the demographics of the area, who lives there: singles, families? This information will help you determine what type of townhouse design you will need to create. Really get to understand what your target market is before you design your development.
TIP: Always go with your instinct. If it does not feel right, move on to the next one.
Step 5
Drive through or walk along different streets, pay particular attention to the different types of buildings in the street. Are there any new town house developments that might have been built recently? If you come across a street and all you see is every block has one house on it, steer away from purchasing in this street because you will have a greater fight on your hands to obtain approval.
Character of an area and particularly in a street plays a key role in the council decision-making process trying to work out if your proposal is an acceptable development for that area.
Speak with the council and find out what the rules and regulations are that govern the area and more specifically the property you are looking to buy.
Step 6
When sourcing a property to develop, pay particular attention to the title documents. It is in this document you will find if there are any restrictions on the property, such as a single dwelling covenant. Also, from this document you will identify if the property has any easements. If you don’t clearly check and understand the importance of establishing whether or not easements exist, then this could potentially be one of the reasons why you cannot develop and build what you set out to do.
Step 7
When you come across a site you believe has development potential, obtain some pre-purchase planning advice from a town planning consultant to confirm that what you have set out to do on the property is legally achievable. I would steer away from obtaining planning advice from the council, only because the advice they will provide you with will be very conservative and your property development will not stack up in terms of profitability.
Again, I highly recommend you do your own research and find out the development approvals around the site you are looking to buy. This information can be found by contacting council and also remember to look into the Victorian Civil and Administrative Tribunal’s website to find out what decisions VCAT has made. This is very useful information and you will quickly establish the precedents already set in that area.
Peter Bozinoski is director of <a href="https://projectfacilitator.com.au/" title="ProjectFacilitator" target="_blank">ProjectFacilitator.com.au</a> He will appear on the Channel 31 show <a target="_blank" title="Melbourne Property TV" href="https://www.c31.org.au/program/view/program/melbourne-property-tv">Melbourne Property TV</a> from September 5.
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pbozinoski-Ce6rirn824

Seven steps to purchasing a property to develop 

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Ahead of the Reserve Bank of Australia's September 6 monetary policy meeting, both Westpac and the Australian Retailers Association have downplayed the release of positive retail figures and a bump up in capital expenditure. 
ABS figures retail sales for July were stronger than expected, with a 0.5% gain on the back of higher turnover for food retailers, cafes, restaurants and department stores, although clothing retailers were still struggling (down 4.2%) For the last 12 months, retail spending is up 1.4%. 
Capital expenditure for the second quarter rose by 4.9% as a result of a sharp increase in mining sector investment. Manufacturing investment also moving up but service sector spending declined.
 
Westpac is the only major bank to consistently forecast a rate cut before the end of the year. 
The bank’s senior economist Matthew Hassan called the spending picture “still very subdued” despite the “surprise” retailing result in July and notes the small 1.4% growth over the year, which he says implies a slight contraction in per capita spending.
“The July rise is also very unlikely to mark the beginning of a consumer revival. Instead, we continue to expect the slump in consumer sentiment in recent months to play through to a material weakening in demand. 
“And there are still significant downside risks to the outlook, particularly stemming from consumer concerns about job security and the performance of housing markets near term, and further out, from actual job losses,” Hassan says. 
The Commonwealth Bank is sticking with its prediction of the next interest rate movement being up and expects the next rate rise to come in February. 
Senior CBA economist John Peters says while the higher-than-expected July retail outcome would not “scuttle current market speculation that aggressive RBA policy easing is going to occur over the next twelve months” the strong capex data “may create some doubts in the markets’ psyche about the inevitability of multiple RBA rate cuts in the next year”. 
“The bottom line of the retail and capex data is that we remain very comfortable with our long held view that the next RBA policy move will be a rate hike. However, we expect the RBA to remain on hold for some months yet until the domestic and international pictures become less murky,” he says. 
The Australian Retailers Association called the 0.5% growth in retailing in July a “dismal result” and urged the RBA to “take the only reasonable course of action next Tuesday and lower interest rates”.
ARA executive director Russell Zimmerman noted the big year-on-year drops in discretionary spending on clothing and footwear (- 7.5%), department stores (- 2.2%) and household goods (- 0.3%).
These figures, he says, “reflect a continuation of the consumer confidence spiral, with households saving rather than spending and struggling to come to terms with the soaring cost of living.”
“Looking ahead to the spring season, retailers aren’t expecting a break, but rather a continuation of over 18 months of dismal trading conditions.
“A weakening global economy is sending vibrations through the supply chain, affecting other industries such as manufacturing before filtering down to retail.” Zimmerman says.
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Retailers and Westpac discount better-than-expected retail figures

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ASIC is encouraging all mortgage holders to perform an online check on the health of their mortgage. 
The corporate watchdog’s mortgage health check tool is available on its consumer finance site, <a href="https://www.moneysmart.gov.au/" target="_blank">www.moneysmart.gov.au</a>. 
It asks consumers four questions about their credit card commitments, attitude to their mortgage, repayment history and how they would react if interest rates increased. 
Based on the results, borrowers are provided with links to mortgage calculators, budget planning tools and videos about what to do if you they receiving letters from lenders about missed mortgage payments. 
It also provides sample letters for people to send their lenders if they are in financial hardship and video clips explaining how financial counsellors and legal services can help. 
The launch of the mortgage health check tool is part of what ASIC’s Mortgage Health Month. 
Delia Rickard ASIC’s head of financial literacy, says financial issues are often triggered by a change in circumstances such as illness, losing employment or divorce. ‘We know a small number of Australians are in arrears on their mortgage. However, many more struggle to make their mortgage repayments on time, and can only do so by running up other debt. We want to educate people about the signs of mortgage stress and motivate them to take early action.” “If there are signs you may have trouble with your mortgage, take action straight away to get back on track. If you don't feel in control of your money then use the MoneySmart budget planner. If you are in danger of missing a mortgage repayment, speak to your lender about changing your repayments or your loan term. ASIC will hold events in specific geographical areas where the rate of mortgage stress is high. 
It will partner with local services and organisation in Fairfield and Liverpool in NSW, the Mandurah region in Western Australia and in Logan and the Gold Coast in Queensland to provide and promote specialised assistance to people at risk or experiencing mortgage stress.</body></html>

ASIC offers advice for those behind on mortgage payments

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The Real Estate Institute of Queensland is taking on the Australia-wide property listing websites by including state property listings on its website for the first time.
Only members of the institute are able to list their properties on the revamped reiq.com, with listings limited to Queensland.
The website features about 49,000 property listings, including commercial properties and businesses for sale on <a href="https://propertysearch.reiq.com.au/">https://propertysearch.reiq.com.au</a>
It is in the second state real estate institute in the space of a month to launch a dedicated state property listings website for its members, following the Real Estate Institute of Western Australia partnering with West Australian newspaper group to launch <a href="https://www.westrealestate.com.au/">www.westrealestate.com.au</a>.
The WA website is owned by West Australian newspapers, with content and listings provided by the REIWA and its members.
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Real Estate Institute of Queensland launches listings website

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?The newly elected NSW government will need to take drastic action to improve the rate of houses being built in the state, according to forecasts by the Housing Industry Association.

The HIA, which represents the building industry, forecasts NSW will have a housing shortfall of 155,000 if houses continue to be built at the historical average of the past 20 years.
Even if the state picks up its home building rate from the current 40,600 to 48,600 per annum (a high building scenario), it will still have a shortfall of 84,000 houses by 2020, according to HIA modelling.
Under the same medium rate scenario, Western Australia will be 112,000 short of the number of houses it needs by 2020, followed by Victoria (104,200), Queensland (91,800) and South Australia (24,600). 
The ACT is building just about enough houses annually, with an undersupply of just 1,400 houses projected by 2020 if building conditions remain unchanged. 
Australia’s weakest housing market, Tasmania is the only state market building enough houses currently and is forecast to be in surplus (1,300) by 2020.
In total, the HIA forecasts a shortage of 500,000 homes by 2020 across the nation, should building rates not pick up.
<a href="/images/stories/hiasept2large.gif" rel="shadowbox" title="Click to enlarge"><img src="/images/stories/hiasept2.gif"></a>
Source: HIA (Click to enlarge)
At a local government area level, flood-damaged Brisbane is heading for a housing shortage of 25,000 by 2020 at current building rates, according to HIA. 



Other notable municipalities heading for significant housing shortages in nine years’ time include Darwin (6,500), Sydney’s Sutherland Shire (4,700) and Blacktown (4,400) in Sydney’s outer west.

<img src="/images/stories/hiasept22.gif">
Not everyone agrees that Australia is facing a housing shortage.



Property analyst Michael Matusik says the residential market may be heading into oversupply due to an ageing population and the fact that family households are getting bigger.



Figures from SQM Research show a total of 49,466 vacancies nationally in July, only 1,000 more than at the same time last year.
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Critical housing shortage looming: HIA

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As we look to what's ahead for 2012, Property Observer is republishing some of our most noteworthy stories of 2011.
 
You probably won’t bump into Carrie Bradshaw and her crew, but Sydney’s Pitt Street mall is rapidly moving up the ranks of the world’s most expensive shopping streets.
According to global research by Cushman &amp; Wakefield, Pitt Street Mall retailers are paying 33% more per square metre than 12 months ago, with the street moving up five places to be the fourth most expensive shopping street in the world.
On average, retailers are paying $9,910 per square metre on Pitt Street mall (the pedestrianised block between Market and Kings streets in the Sydney CBD)– more than what you would pay on the far more famous Avenue des Champs Elysées in Paris ($9,890) and London’s Bond Street ($9,270)
Pitt Street Mall sits just behind Ginza Street in Tokyo ($10,400 per sqm) but is still a long way off the top two shopping strips – New York’s Fifth Avenue and Hong Kong’s Causeway Bay, which in retail renting terms exist in a class of their own. 
The world’s 10 most expensive shopping streets 2011
 
<table style="width: 450px;" border="0" cellspacing="0" cellpadding="0"><tbody>
<tr>
<td width="47" valign="top">
Rank 2011 
</td>
<td width="47" valign="top">
Rank 2010 
</td>
<td width="80" valign="top">
Country 
</td>
<td width="107" valign="top">
City 
</td>
<td width="149" valign="top">
Street 
</td>
<td width="59" valign="top">
US$/sqm/year 
</td>
</tr>
<tr>
<td width="47" valign="top">
1 
</td>
<td width="47" valign="top">
1
</td>
<td width="80" valign="top">
USA
</td>
<td width="107" valign="top">
New York
</td>
<td width="149" valign="top">
Fifth Avenue
</td>
<td width="59" valign="top">
24,218
</td>
</tr>
<tr>
<td width="47" valign="top">
2 
</td>
<td width="47" valign="top">
2
</td>
<td width="80" valign="top">
Hong Kong
</td>
<td width="107" valign="top">
Hong Kong
</td>
<td width="149" valign="top">
Causeway Bay
</td>
<td width="59" valign="top">
20,914
</td>
</tr>
<tr>
<td width="47" valign="top">
3 
</td>
<td width="47" valign="top">
3
</td>
<td width="80" valign="top">
Japan
</td>
<td width="107" valign="top">
Tokyo
</td>
<td width="149" valign="top">
Ginza
</td>
<td width="59" valign="top">
11,238
</td>
</tr>
<tr>
<td width="47" valign="top">
4 
</td>
<td width="47" valign="top">
9
</td>
<td width="80" valign="top">
Australia
</td>
<td width="107" valign="top">
Sydney
</td>
<td width="149" valign="top">
Pitt Street Mall
</td>
<td width="59" valign="top">
10,710
</td>
</tr>
<tr>
<td width="47" valign="top">
5 
</td>
<td width="47" valign="top">
5
</td>
<td width="80" valign="top">
France
</td>
<td width="107" valign="top">
Paris
</td>
<td width="149" valign="top">
Avenue des Champs Elysées
</td>
<td width="59" valign="top">
10,678
</td>
</tr>
<tr>
<td width="47" valign="top">
6 
</td>
<td width="47" valign="top">
4
</td>
<td width="80" valign="top">
UK
</td>
<td width="107" valign="top">
London
</td>
<td width="149" valign="top">
New Bond Street
</td>
<td width="59" valign="top">
10,010
</td>
</tr>
<tr>
<td width="47" valign="top">
7 
</td>
<td width="47" valign="top">
6
</td>
<td width="80" valign="top">
Italy
</td>
<td width="107" valign="top">
Milan
</td>
<td width="149" valign="top">
Via Montenapoleone
</td>
<td width="59" valign="top">
9,860
</td>
</tr>
<tr>
<td width="47" valign="top">
8 
</td>
<td width="47" valign="top">
7
</td>
<td width="80" valign="top">
Switzerland
</td>
<td width="107" valign="top">
Zurich
</td>
<td width="149" valign="top">
Bahnhofstrasse
</td>
<td width="59" valign="top">
9,504
</td>
</tr>
<tr>
<td width="47" valign="top">
9 
</td>
<td width="47" valign="top">
8
</td>
<td width="80" valign="top">
South Korea
</td>
<td width="107" valign="top">
Seoul
</td>
<td width="149" valign="top">
Myeongdong
</td>
<td width="59" valign="top">
7,050
</td>
</tr>
<tr>
<td width="47" valign="top">
10 
</td>
<td width="47" valign="top">
10
</td>
<td width="80" valign="top">
Germany
</td>
<td width="107" valign="top">
Munich
</td>
<td width="149" valign="top">
Kaufingerstrasse
</td>
<td width="59" valign="top">
5,737
</td>
</tr>
</tbody></table>
Source: Cushman &amp; Wakefield (full ranking contained in the report) 
The most recent high-profile retail tenant on Pitt Street Mall was Spanish fashion retailer Zara, which opened its flagship three-level, 1,830-square-metre store in Westfield Sydney in April.
 
David Woolford, managing director of Cushman &amp; Wakefield’s Australia division, says the Pitt Street Mall has undergone “a substantial transformation over the last 12 months with Westfield Sydney and the MidCity centre, both of which had been under redevelopment for several years, now effectively complete”.
“This has created a new super-prime precinct characterised by larger footprint stores and an influx of high-profile international brands.
“This has been confirmed with rents in the precinct consistently reaching $10,000 per square metre, with some as high as $13,000 per square metre. The emergence of international brands including Zara, Bottega Veneta, Christian Louboutin and Diane von Fürstenberg has legitimised this new super prime precinct, as these retailers may have been willing to pay premium rents to secure a flagship location in the Australian marketplace.”
Rent could rise even higher next year given that construction work is now almost complete.
Woolford says leases that were struck during the construction phase were impacted by lower turnover levels and reduced pedestrian thoroughfare at the time.
Despite a rental increase of 4.3%, London’s New Bond Street dropped two rankings, from fourth to sixth with Avenue des Champs-Elysées now the most expensive retail location in Europe, having registered a rental uplift of 5.3%, compared with a decrease of 9.5% last year.
 
Photograph by Giovanni Variottinelli
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