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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As the US debt crisis worsens international stock markets are taking a battering amid fears of another global recession. Wiping tens of billions of dollars off the Australian share market in only hours of news of a drop in the US credit rating, an acute nervousness has taken hold of local investors.
With share market activity volatile, investment security concerns have left many questioning their investment strategies, giving rise to the long-debated argument of bricks and mortar versus shares.
Both investment vehicles have created significant wealth for astute investors, but while there is no right or wrong answer to which is the best, there are clear fundamental differences that set them apart.
During a downturn bricks and mortar are typically a haven for investors who’ve pulled their money out of shares in reaction to negative financial market sentiment. Property offers a non-liquid, tangible asset and in most Australian capitals is underpinned by strong demand.
Whereas shares are subject to daily fluctuations, impacted by movements in the dollar, employment, interest rates, commodity prices, GDP and geopolitical factors to name just a few, property demonstrates a less volatile day-to-day proposition with a solid history of performance.
Figures show that Melbourne property values increased by 49.8% in the five years to June 2011, boasting an average annual growth of 9.95% per annum.
While an investment return of this kind may seem unremarkable to some risk-averse share market investors, it meant an annual growth of more than $55,000 in 2010 and a five-year growth of more than $230,000 for property owners whose property is on par with Melbourne’s current median house price growth trend.
Property is one of Australia’s best-performing investment vehicles. However, a sound investment portfolio typically comprises a mix of assets including shares, property and commodities and relies on expert advice from qualified professionals.
Greville Pabst is CEO of <a target="_blank" title="WBP Property Group" href="https://www.wbpproperty.com/">WBP Property Group</a>
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gpabst-nAfzC8fgsR

Property offers a stable investment in volatile times

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Assess the time scale and strategy of the investments. If you are looking to invest in a property for the short term, it might be best sit on your hands and wait for the market to stabilise.
For long-term investments, to look forwards, sometimes you have to first look backwards, with the 10- to 15-year price average sometimes offering some key indicators of future growth. 
Now is the time to take a step back and do some serious research. Go to the councils of areas of interest or to the state government’s planning and infrastructure website. Look at the proposed infrastructure changes in the area.
Infrastructure plans suggest the councils are preparing for an increase in population. More population equals more demand, pushing up property prices. 
The proposed north-west rail link in Sydney is a great example. The rail link will open up suburbs in the Hills district to easier access to the CDB, leading to capital appreciation and once the rail link is open, better rental yields.
Douglas Driscoll is CEO of <a href="https://www.starrpartners.com.au/" title="Starr Partners" target="_blank">Starr Partners</a>.
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douglasdriscoll-EkfdEjJSsC

Timing is everything for property investment

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The vacancy rate in the inner-Brisbane retail market has fallen from 2.7% to 2.1%, with cafes, restaurants and other food retailers accounting for most of the new tenancies.
Across the CBD, the amount of space leased by cafes, restaurants and takeaway food vendors has grown by 8.5% to 52,700 square metres from 2009 to 2011 while the presence of other food vendors has grown by 13% from 14,600 to 16,500.
Savills attributed the increase in food retailers to an increasing workforce within the CBD and commitments being realised within new office buildings.
<img src="/images/stories/brisfoodretail.gif">
Source: Savills
At the same time, the amount of space leased to household goods retailers has dwindled from 21,600 to 14,500. 
Sales growth for household goods vendors has fallen 4.1% over the past year. 
Space occupied by clothing retailers have grown by a modest 3%.
The 500-metre-long Queens Street mall comprises the majority of the core market and is described by Colliers as one of the best-performing retail precincts in the country, with 70,000 daily visitors.
Currently the biggest inner-city project is the 7,000-square metre refurbishment of the Wintergarden Shopping Centre on the Queens Street mall, due to be completed next year.
Vacancies have also fallen across the Brisbane CBD from 5.2% in 2009 to 4.9% currently and are down marginally from 8.6% to 8.5% on the periphery.
Despite vacancies falling, CBD retailers across all categories are experiencing below trend sales growth with moving annual turnover of 2% compared to the five and ten year averages of 5% to 6.5%.
Department stores, which make up 41% of the core precinct, are generating yearly turnover growth of only 0.3%.
Clothing, footwear and personal accessories stories, which comprise almost a fifth (17.5%) of retail space, have experienced growth of 4.4% due to discounting of stock and increased sales turnover.
The addition of international retailers is also expected to heighten completion for prime space, according to Savills’ second-quarter Brisbane retail space.
Among the international chains currently scouting out space is fashion outlet Zara, believed to be considering setting up the in flagship Queen Street mall precinct or the 800-square-metre former Borders site on the corner of Albert and Elizabeth streets.</body></html>

lschlesinger-FZcF9M3vE6

Foodies show growing appetite for Brisbane CBD space

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Most importantly, one does not need to rush the transaction/deal.  Time is on your side. Use the time to review and research property data/sales to establish fair market value or better than fair market value.
If it is an investment acquisition, look to achieve a good yield, one that may outperform the average. Check your numbers and triple check there are no mistakes. 
Speak to your bank or broker and provide them with as much detail as possible. Just because you have been approved for finance does not mean the bank or institution will not change their mind on the finance structure and in particular during these uncertain times.
In addition, keep the agent informed of progress during exchange and settlement. In my opinion a volatile share market does not spell “doom and gloom” for property. There is opportunity in the market if you are prepared to invest the time. 
Traditionally property experts talk about “time in market”, however in uncertain times like we are in now provides the perfect opportunity to “time the market” along with “time in market”.
Byron Rose is the president of the <a target="_blank" title="Real Estate Buyers Association of Australia" href="https://www.rebaa.com.au/">Real Estate Buyers' Association of Australia</a> and is principal of <a target="_blank" title="Rose&amp;Jones" href="https://roseandjones.com.au/">Rose&amp;Jones</a>.
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byronrose-irE44b7JNs

Time is on your side in uncertain market

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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.
 
Demand for rental accommodation in Brisbane has eased after spiking earlier this year due to the impact of the floods, according to research by the Real Estate Institute of Queensland. 
Vacancies across greater Brisbane increased to 2.7% in June 2011, compared with 2.3% in March 2011. 
The inner-city market remains tightly held with vacancies unchanged at 1.6% over this period. Beyond the five-kilometre inner-city ring, vacancies have increased from 1.9% to 2.4%, while in the outer suburbs the vacancy rate has increased to 3.1 from 2.7%. 
In September 2010, the REIQ calculated the greater Brisbane vacancy rate at 2.8% with vacancies at2.5% in inner-Brisbane and 2.6% in the rest of the city.
Following the floods, the state government estimated that about 28,000 Brisbane homes would need to be completely rebuilt following the floods, with many more uninhabitable for weeks or months after. 
About 20,000 were completely flooded, with a further 12,000 partially flooded. 
<table border="1" cellspacing="0" cellpadding="0" width="461"><tbody>
<tr>
<td width="197" nowrap>
VACANCIES AS AT END OF:
</td>
<td width="72" valign="top">
Sep-10
</td>
<td width="64">
Mar-11
</td>
<td width="64">
Jun-11
</td>
<td width="64" valign="top">
 
</td>
</tr>
<tr>
<td width="197" nowrap>
Brisbane SD
</td>
<td width="72">
2.8%
</td>
<td width="64" nowrap>
2.3%
</td>
<td width="64">
2.7%
</td>
<td width="64" valign="top">
 
</td>
</tr>
<tr>
<td width="197" nowrap>
Brisbane City
</td>
<td width="72">
2.6%
</td>
<td width="64" nowrap>
1.8%
</td>
<td width="64">
2.1%
</td>
<td width="64" valign="top">
 
</td>
</tr>
<tr>
<td width="197" nowrap>
Brisbane Inner (0-5km)
</td>
<td width="72">
2.5%
</td>
<td width="64" nowrap>
1.6%
</td>
<td width="64">
1.6%
</td>
<td width="64" valign="top">
 
</td>
</tr>
<tr>
<td width="197" nowrap>
Brisbane Remainder
</td>
<td width="72">
2.6%
</td>
<td width="64" nowrap>
1.9%
</td>
<td width="64">
2.4%
</td>
<td width="64" valign="top">
 
</td>
</tr>
<tr>
<td width="197" nowrap>
Brisbane Surrounds²
</td>
<td width="72">
3.0%
</td>
<td width="64" nowrap>
2.7%
</td>
<td width="64">
3.1%
</td>
<td width="64" valign="top">
 
</td>
</tr>
<tr>
<td width="197" nowrap>
Ipswich City
</td>
<td width="72">
2.3%
</td>
<td width="64" nowrap>
2.3%
</td>
<td width="64">
2.8%
</td>
<td width="64" valign="top">
 
</td>
</tr>
<tr>
<td width="197" nowrap>
Logan City
</td>
<td width="72">
2.3%
</td>
<td width="64" nowrap>
2.2%
</td>
<td width="64">
2.7%
</td>
<td width="64" valign="top">
 
</td>
</tr>
<tr>
<td width="197" nowrap>
Moreton Bay Regional
</td>
<td width="72">
3.8%
</td>
<td width="64" nowrap>
3.6%
</td>
<td width="64">
3.2%
</td>
<td width="64" valign="top">
 
</td>
</tr>
<tr>
<td width="197" nowrap>
Caboolture *
</td>
<td width="72">
4.9%
</td>
<td width="64" nowrap>
4.3%
</td>
<td width="64">
4.5%
</td>
<td width="64" valign="top">
 
</td>
</tr>
<tr>
<td width="197" nowrap>
Pine Rivers
</td>
<td width="72">
2.5%
</td>
<td width="64" nowrap>
1.5%
</td>
<td width="64">
2.5%
</td>
<td width="64" valign="top">
 
</td>
</tr>
<tr>
<td width="197" nowrap>
Redcliffe
</td>
<td width="72">
2.8%
</td>
<td width="64" nowrap>
4.6%
</td>
<td width="64">
2.8%
</td>
<td width="64" valign="top">
 
</td>
</tr>
</tbody></table>
Source: REIQ 
“There was a spike in demand for rental property earlier this year as both displaced owner-occupiers and renters tried to find alternate accommodation after the floods and cyclone,” says REIQ managing director Dan Molloy.
Molloy says the latest vacancy rates show that six months after the floods the southeast Queensland rental market is starting to return to a more balanced level of supply and demand in most areas. 
Vacancies are currently taking one to two weeks to relet in the inner suburbs, while other parts of Brisbane are taking a fraction longer, according to property managers at REIQ-accredited agencies.
On average, listings are receiving two to five applicants across the municipality. 
The municipalities surrounding Brisbane all recorded easing vacancy rates, with Moreton Bay the exception, thanks to a tighter rental market in Redcliffe. 
In the Pine Rivers area, vacancy rates are also tight at 2.5%, however many agents report an oversupply of stock due to new developments in the area. 
As at the end of June, Logan City continues to record the lowest vacancy rate in the Greater Brisbane region, despite an easing market. Agents are reporting lower enquiry levels, with rental listings taking between one and four weeks to let and attracting between two and five applicants. 
In Ipswich, where many rental properties were affected by flooding, agents are reporting improved market conditions. 
The increase in rental vacancies comes as property investors return to the Queensland market. 
During the June quarter the number of investment dwellings financed in Queensland increased 16%, with investors now accounting for 30 per cent of the market, according to the latest ABS figures. 
Outside of Brisbane, improvements made to flood-affected properties are not equating to higher asking prices, according to the REIQ. 
As a result, many agents reported listing times of two to four weeks.
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Brisbane rental market easing six months after floods

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With the crooks long gone, local home buyers outbid six other bidders with small business intentions when the former <a target="_blank" title="Surry Hills" href="/news">Surry Hills</a> police station sold at weekend auction in Sydney for $1.9 million.
The former Bourke Street police station and lockup dates back to 1895.
It was marketed as able to be reinvented as a boutique gallery, showroom, design studio or professional suites, but its 2B zoning invited residential dwelling opportunities.
Set under a slate-tiled roof, its original period details include soaring four-metre ceilings, a marble fireplace and timber floors.
It has been bought by Mona and Joe Tower, director of the bridge construction company Bridgeworks Australia, who recently sold their Bourke Street, Darlinghurst terrace through BresicWhitney agent Mark Foy for $920,000.
Four of the registered bidders put in bids during the auction through Raine &amp; Horne Newtown agent Michael Harris. It was announced on the market at $1.72 million under instructions of the NSW Department of Health.
The property sits diagonally opposite an 1890s house that was previously owned the late Abe Saffron, the Kings Cross nightclub identity.
The former police station premises is a single-storey brick and sandstone Federation Romanesque building with a façade that also combines Arts and Crafts design influences in its design by Walter Liberty Vernon.
Vernon’s career as government architect left about 30 of his works listed on the National Estate Register, including the Art Gallery of New South Wales and Central Railway Station.
Set on a rare level double block, it has been an alcohol and drug advisory centre since 1981, most recently as the AIDS Council of NSW Positive Living Centre.
NSW Health put the building up for sale when ACON recently moved to its Elizabeth Street premises, with the proceeds from the sale to be used to fund capital works within the South Eastern Sydney Local Health District.
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jchancellor-FAypfDUnLy

Heritage Sydney cop shop apprehended for almost $2 million

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ASIC has released proposals for modifying the training requirements for credit representatives who provide credit assistance to consumers on home loans. 
The proposals are aimed at addressing mortgage broking industry concerns about the cost of complying with the licensing regime while offering adequate protection for consumers. 
Figures compiled by Market Intelligence Strategy Centre revealed that the number of mortgage broking firms operating in Australia has contracted by 26% in the year to March 2011, with compliance costs and commission cuts key factors in this contraction.
Currently, credit representatives who provide “mortgage broking services” are required to obtain a Certificate IV in finance and mortgage broking, but have until June 2014 obtain the qualification.
The course costs about $2,000 and takes a week to complete.
The consultation paper proposes two possible modifications:
<ul>
<li>refining the definition of ‘mortgage broking’ in the regulatory guide, so that it is limited to providing credit assistance in the form of ‘suggesting’, where credit is secured by real property; and/or 
</li>
<li>allowing those falling within the definition of mortgage broking who provide services on behalf of a particular credit provider to undertake a proportion of the Certificate IV in finance and mortgage broking.</li>
</ul>
Depending on the feedback received, ASIC proposes to implement one or both of these approaches.
‘The proposals aim to reduce licensees’ compliance burden, while still ensuring a high standard of training for those who do play a significant role in such decisions,” says ASIC commissioner Peter Boxall. “Our proposed changes to the training requirements should enable representatives of credit providers who are providing mortgage broking services to focus on units of training most relevant to their roles,” he says. 
Industry participants have until September 16 to comment on the proposals, with a new regulatory guide covering training and competencies to be released in October.
The Mortgage and Finance Association of Australia requires all members to hold a Certificate IV in order to join or maintain membership.
As of July 1, 2012 the minimum MFAA membership educational requirement will be a diploma of financial services (finance and mortgage broking management).
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ASIC to ease mortgage broker requirements

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Westfield has taken its overseas spending tab for the week to $600 million following a 50% investment in Italy.
The shopping centre group will spend $160 million to acquire a 50% interest in a development site in Milan, Italy.
It follows the retail giant’s August 10 announcement that it will spend $440 million to acquire a half-share of a Brazilian shopping mall owner.
The 60-hectare site adjacent to Milan's Linate airport has planning approval to develop a regional shopping centre similar in scale to Westfield London.
The site is being acquired in a joint venture with Gruppo Stilo, an Italy-based developer owned principally by its founder, Antonio Percassi.
Westfield chairman Frank Lowy says the acquisition is “another significant step in the expansion of our business globally”.
"This acquisition represents a unique opportunity, notwithstanding the volatile financial markets at present, to establish our franchise in one of the wealthiest population centres in Europe. We believe that this site represents one of, if not the, best shopping centre development opportunities in Continental Europe,” he says.
Milan, in the north of Italy, is the country's major financial centre and has the highest income demographic. It is considered to be one of the world's fashion capital cities.
The project is due to be completed in 2015 to coincide with the Milan World Expo.
Westfield expects the 170,000-square-metre project would represent a total investment in the range of €1 billion to €1.25 billion ($1.38 billion to $1.72 billion ) with a target yield in the range of 7%  and 7.5% and an unlevered internal rate of return of between 12% - 15% on the capital invested.
On completion, the centre will be branded Westfield Milan and will be managed by Westfield in conjunction with Gruppo Stilo.
Westfield expects to invest a further €20 million ($28 million) in acquiring additional development rights, which will be payable when a second stage project of approximately 60,000 square metres commences in the future.
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Westfield to spend $160 million to develop Italian shopping centre

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The Western Australian property developer Warren Anderson has commenced proceedings to overturn his recent bankruptcy and thereby seeking to avoid or delay eviction from his sprawling Fern Hill estate on the outskirts of Sydney.
Anderson says he is a tenant at Fern Hill paying a $479,000 annual rent.
A Federal Court hearing has been scheduled for September 5, according to the Australian Financial Review. 
The outcome of the hearing will determine how long he can remain at the colonial estate, which is currently listed for sale by receivers of the Anderson family trust through Colliers International. 
Anderson is arguing the June bankruptcy was based on an "invalid personal guarantee."
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Warren Anderson seeks to overturn bankruptcy and stay put

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It’s a case of chalk versus cheese or perhaps mutton versus lamb when comparing the US housing market with Australia’s subdued market, according to analysis compiled by RP Data.
The US housing market is significantly worse off than Australia on every key metric.
The five most significant differences are:
<ul>
<li>US home prices are down 32% from their peak in 2006. While Australian house prices are down 1.9% for the year to June, since 2006 they have increased by 31%.</li>
<li>US transaction volumes are running 33% below the five-year average and are yet to show any consistent improvement. Australian transaction volumes are tracking about 16% below the five year average. </li>
<li>Nearly a quarter (22.7%) of all US homes were in negative equity at the end of the first quarter 2011, according to US-based data analytics group CoreLogic. A further 5% are in “near negative equity?. RP Data will release an “Australian Equity Report” that will show extremely low number of homes are showing negative equity. </li>
<li>The percentage of homes that are at least 90 days in arrears is slightly higher than 8% in the US. Comparable data for Australia shows delinquent housing loans remain well below 1%. </li>
<li>Distressed sales - homes that are being sold by the lender or sold at a price lower than the amount owed on the property - comprise 30% of all sales in the USA. The number has tripled over the last two years and CoreLogic estimates the number of short sales is expected to increase by another 25% during 2011. While there is no official data on home foreclosures in Australia, outgoing Commonwealth Bank CEO Ralph Norris said last year the percentage of home foreclosures in Australia was “about 0.000001%”</li>
<li> The vast majority of US home loans are on a 30-year fixed term basis which means most mortgage holders cannot immediately take advantage of the very low interest rate environment until they are able to re-finance. In comparison, while the percentage of people taking up fixed rate mortgage in Australia has picked up recently to around 13%, the vast majority are on variable rate loans, meaning they immediately benefit if rates are cut.</li>
</ul>
RP Data national research director  Tim Lawless says the US government and banking sector are looking for increasingly creative ways to combat the high rate of default and rising number of bank and Government owned properties.
“Banks in the US are offering principal reductions on mortgages and flexible re-payment options rather than facing the likely losses if the property is taken to market or the mortgage holders simply chose to walk away from the debt,” Lawless says.
 Unlike Australia, most mortgages in the US are non-recourse, so if the home is worth less than the loan it is very difficult for the bank to recoup its loss from the borrower. 
“A principal reduction is simply reducing the amount of out-standing debt payable by the mortgagee in order to ensure that they don’t walk away from their debt responsibility,” he says. 
While the US housing market is vastly different to Australia, Lawless says Australians should not be complacent. 
“The mortgage market meltdown in the US has resulted in a greater level of data transparency which is a good thing and potentially one way in which the Australian economy can learn from the changes now being made in the US".
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