An 1880s timber cottage that has survived Kangaroo Point's transformation from riverside suburb to high-density apartment precinct is set to become the centrepiece of <a href="https://www.apartments.com.au/developers/zephyr">Zephyr Group</a>'s proposed Banksia development.

Rather than see the locally heritage-listed Alpha Cottage as an obstacle to navigate, plans integrate the landmark home into a new 18-storey residential tower, giving one of the suburb's oldest surviving residences a new role as the project's communal hub.

The development application covers a 1,177 sqm amalgamated site at 127-133 Lambert Street and 30 Shafston Avenue, where Zephyr Group plans to deliver 64 apartments above three basement levels. Designed by <a href="https://www.apartments.com.au/architects/joe-adsett-architects">Joe Adsett Architects</a>, the proposal carefully weaves the retained heritage cottage into a contemporary residential scheme, with the tower elevated above the historic building to preserve its presence within the Lambert Street streetscape.

<img alt="First look: Zephyr Group's Banksia to wrap new Kangaroo Point tower around 1880s Alpha Cottage" data-entity-type="file" data-entity-uuid="f9dc5bdb-d691-4c60-bf2b-c3ed405a3e75" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Banksia.png?VersionId=Jh4bjlewU.o8HXWt0V4KaFA_lPcF7KWM" />

Named after the native Australian Banksia flower, the project draws inspiration from its distinctive form through curved balconies, sculpted planter boxes and cascading subtropical landscaping that soften the building's profile.

As the design report explains: "The tower's identity is defined by its feature facade, drawing direct inspiration from the Banksia wildflower. The building departs from traditional rigidity through the use of elegant, GRC-moulded planter boxes that appear as if shaped by the breeze."

Plans propose 64 apartments, comprising 32 two-bedroom and 32 three-bedroom residences, across an 18-storey tower. Residents would have access to rooftop amenities including a swimming pool, spa, gym, sauna, private cinema, dining spaces and landscaped recreation areas, while more than half the site is dedicated to planting and open space.

<img alt="First look: Zephyr Group's Banksia to wrap new Kangaroo Point tower around 1880s Alpha Cottage" data-entity-type="file" data-entity-uuid="16041b5f-033e-47fa-8fbe-9886e072c1f2" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/pool.png?VersionId=kpx5w4EbLx0_TdWfDoD1vrSs0_cZ5Ao1" />

The heritage component is the defining feature of the proposal. Constructed in the early 1880s and occupied from at least 1883, Alpha Cottage is recognised by Brisbane City Council as an important surviving example of Kangaroo Point's nineteenth-century residential development and as a representative transverse-gable timber cottage. Despite extensive redevelopment across the peninsula, the building has retained a high degree of its original form and internal fabric.

As part of the redevelopment, the cottage will be carefully relocated a short distance within its original allotment to facilitate construction before being returned to a prominent position along Lambert Street. Original verandah elements will be dismantled, catalogued and reinstated, while significant internal features, including timber flooring, wall linings, joinery, doors, windows and hardware, will be retained. Later additions, including the enclosed rear verandah, will be removed to better reveal the building's original form.

Once restored, Alpha Cottage will accommodate the building manager's office, mail room and parcel facilities, providing an active everyday use that supports its long-term conservation rather than preserving it as a static display. The heritage strategy also maintains landscaped space around the building, allowing it to remain visually distinct beneath the new tower.

<img alt="First look: Zephyr Group's Banksia to wrap new Kangaroo Point tower around 1880s Alpha Cottage" data-entity-type="file" data-entity-uuid="43b027e1-576e-4624-a66c-7cc54ea8b7be" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/banksia%20tower.png?VersionId=2W6E2yfkj2AQlWlLeV986grA5zB9f817" />

The Heritage Impact Assessment concludes that "the proposal secures the ongoing occupation, maintenance and conservation of Alpha Cottage," finding the development would result in "no more than a minor impact on the cultural heritage significance" of the building while ensuring its long-term future.

Joe Adsett Architects have designed the tower to sit above the heritage building rather than overwhelm it, creating a clear visual separation between old and new. The development's flowing balconies, integrated planting and organic façade respond to Brisbane's subtropical climate while complementing the restored cottage below.

Banksia occupies a prominent corner in Kangaroo Point within walking distance of the Kangaroo Point Bridge, Brisbane River, ferry services, QUT, the CBD and the Woolloongabba precinct. The site also benefits from direct access to active transport infrastructure and sits within an area earmarked for continued higher-density residential growth.

Joel Robinson

Zephyr Group's Banksia to wrap new Kangaroo Point tower around 1880s Alpha Cottage

Buying into a masterplanned community often means committing to a vision still years from taking shape. At <a href="https://www.apartments.com.au/new-apartments/kew-tallawong-23-27-schofields-road-tallawong-nsw-2762">Kew Tallawong</a>, that vision is already visible.

Residents have moved into the completed first stage, landscaped spaces are established, and the next chapter is now underway. Stage 1 has been completed and settled, with Stage 2 now selling off-the-plan.

Designed by <a href="https://www.apartments.com.au/architects/pbd-architects">PBD Architects</a>, <a href="https://www.apartments.com.au/new-apartments/kew-tallawong-23-27-schofields-road-tallawong-nsw-2762">Kew Tallawong</a> combines attainable apartment living with sustainability initiatives rarely seen at this price point, including rooftop solar, battery storage and a resident EV-sharing program.

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Located on Schofi​elds Road, just moments from Tal​lawong Metro Station and Schof​ields Train Station, <a href="https://www.apartments.com.au/new-apartments/kew-tallawong-23-27-schofields-road-tallawong-nsw-2762">Kew Tallawong</a> has been designed to appeal to a broad mix of buyers, from first-home purchasers looking for a foothold in Sy​dney's property market to downsizers seeking a connected, low-maintenance lifestyle.

<a href="https://www.apartments.com.au/new-apartments/kew-tallawong-23-27-schofields-road-tallawong-nsw-2762">Kew Tallawong</a> has been conceived as a thoughtfully planned masterplanned community that will evolve over multiple stages, with buyers now able to secure one, two and three-bedroom apartments within a neighbourhood that is already beginning to establish its identity.

One of the project's defining features is its focus on sustainability. Solar energy systems, battery storage and future EV charging infrastructure have been incorporated throughout the development, reflecting a long-term approach to both environmental performance and everyday convenience.

Sustainability sits at the centre of the development's vision, with solar energy systems, battery storage and future EV charging infrastructure integrated throughout the community.

That emphasis on future-ready living extends beyond the technology. Landscaped communal gardens, outdoor gathering spaces and plans for a future retail precinct aim to create a neighbourhood where residents can access daily conveniences without travelling far from home.

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The apartments themselves have been designed with liveability front of mind. Rather than chasing maximum density, the focus has been placed on creating practical homes with generous natural light, usable layouts and strong connections to outdoor space.

Importantly, these design principles have been applied consistently across the one, two and three-bedroom apartment offerings.

The appeal of <a href="https://www.apartments.com.au/new-apartments/kew-tallawong-23-27-schofields-road-tallawong-nsw-2762">Kew Tallawong</a> is also closely linked to its location within Syd​ney's rapidly evolving north-west growth corridor. Over the past decade, major infrastructure investment has transformed the area, with new transport links, business precincts and community facilities reshaping suburbs like Talla​wong and Schofiel​ds.

The agent says buyers are increasingly recognising the area's long-term potential.

"Typical buyers that we're finding across <a href="https://www.apartments.com.au/new-apartments/kew-tallawong-23-27-schofields-road-tallawong-nsw-2762">Kew Tallawong</a> especially are your first-home buyers, your investors, your upsizers as well as your downsizers," Hawes says.

Connectivity remains one of the project's strongest drawcards. Residents have access to both Tallaw​ong Metro Station and Schofi​elds Train Station, providing links to the Sydn​ey CBD, Norw​est Business Park, Macquari​e Park and other major employment hubs. Retail centres including Rous​e Hill Town Centre and Sch​ofields Village are also nearby, alongside schools, parks and future healthcare infrastructure.

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For Stage 1 resident Roji, it is the balance between convenience and comfort that has defined the experience of living at Kew.

"For me, it's a balance of quality and convenience," she says. "Everything I need is right here."

"If I wanted to catch the train, Scho​fields Station is just around the corner. Tallaw​ong Metro connects me to the city."

More importantly, she says, the development has delivered something that cannot be measured in floorplans or specifications.

"<a href="https://www.apartments.com.au/new-apartments/kew-tallawong-23-27-schofields-road-tallawong-nsw-2762">Kew Tallawong</a> feels like home."

[smartcode_project:default project_id=149637 project_image_fid=351024]

As Stage 2 enters the market, that lived experience may be one of the project's strongest selling points. Buyers are not purchasing into an untested concept or a future promise. They are joining a community that is already taking shape.

Ongoing investment in transport, retail, healthcare and public open space continues to strengthen the appeal of Syd​ney's north-west growth corridor, while <a href="https://www.apartments.com.au/new-apartments/kew-tallawong-23-27-schofields-road-tallawong-nsw-2762">Kew Tallawong</a>'s established first stage provides buyers with a tangible sense of the community's future direction.

For a limited time, buyer can secure a new home at <a href="https://www.apartments.com.au/new-apartments/kew-tallawong-23-27-schofields-road-tallawong-nsw-2762">Kew Tallawong</a> with just a $10,000.

[smartcode_project_cta:default project_id=149637]

Kew Tallawong: A growing community taking shape in Sydney's north-west

<a href="https://www.apartments.com.au/developers/freecity">Freecity</a> has received development approval for its 51-storey mixed-use tower at 153-157 Walker Street, North Sydney, set to be one of the tallest mixed-use residential-led buildings in one of Sydney’s most sought-after commercial and residential addresses.

Lodged as a State Significant Development Application (SSDA) through the Housing Delivery Authority (HDA) pathway and approved by the NSW Department of Planning, Housing and Infrastructure following a comprehensive public exhibition and submissions process, <a href="https://www.apartments.com.au/new-apartments/153-walker-street-north-sydney-nsw-2060">the project</a> will deliver 296 apartments, alongside a 170-room, luxury hotel, activated retail and significant public domain improvements.

Situated just 200 metres from Victoria Cross Metro Station, on one of the largest developable sites in North Sydney, the development will rise to 234 metres, making it one of the tallest buildings in the suburb. With an end value of approximately $1.5 billion, the project responds directly to the NSW Government’s mandate to accelerate housing delivery in well-located, transit-connected areas.

<img alt="Freecity gets green light for mixed-use residential and hotel tower in North Sydney" data-entity-type="file" data-entity-uuid="192ec455-94bf-4e01-83ef-922b1b269d67" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Freecity%20-%20Walker%20Street%20North%20Sydney%201%20RESIZED%20.jpg?VersionId=Bzqp0SBHCDvLAHjA4QXkjuGoOEIh73Jl" />

The apartment mix will cater to a broad range of buyers, with 65 studio and one-bedroom apartments, 139 two-bedroom residences, 35 three-bedroom apartments, 48 four-bedroom homes, and nine penthouses. Residents will have access to a dedicated amenity level on Level 33, featuring a swimming pool with views towards the Harbour Bridge, Sydney Opera House and North Sydney CBD, as well as a gym, library, shared kitchen, lounge and outdoor entertaining areas.

The hotel will occupy the lower six levels of the building and include meeting and function spaces, a wellness centre with gym, yoga studio, swimming pool and sauna, further strengthening North Sydney's growing hospitality offering.

At ground level, the development has been designed to improve pedestrian connections through the precinct. More than 700 sqm of retail space will activate the street frontage, while a landscaped through-site link connecting Walker Street, Little Walker Street and Doris Fitton Park will provide new public open space with seating, paving and extensive native landscaping.

Freecity Group Co-Founder and Joint CEO Tony Sun said the project represents one of the most significant development opportunities currently available in North Sydney.

"This is one of the most significant development sites in North Sydney and it comes at a pivotal moment for the precinct," Sun said.

"North Sydney is undergoing a genuine transformation, and this project will contribute housing the city urgently needs while creating a landmark destination."

Executive Director of Development Michael Romano said demand for both residential and hotel accommodation would continue to strengthen as the Metro precinct matures.

"The structural demand for high-quality housing and hotel accommodation in North Sydney is compelling, and will only grow as the precinct continues to evolve around the new Metro station," Romano said.

Architectus has designed the tower, orientating the apartments to maximise views towards Sydney Harbour while introducing a sculpted façade intended to respond to light, wind and the surrounding skyline.

Architectus Principal Marko Damic said the design sought to create a tower that contributes to the public realm as much as the skyline.

"We wanted to design a tower that doesn't just sit in the skyline but actively participates and contributes to city life," Damic said.

First look: Freecity gets green light for mixed-use apartment and hotel tower in North Sydney

<a href="https://www.apartments.com.au/developers/abadeen">Abadeen</a> and <a href="https://www.apartments.com.au/developers/perifa">PERIFA</a> have celebrated the topping out of <a href="https://www.apartments.com.au/new-apartments/putney-wharf-harbourfront-precinct-20-waterview-street-putney-nsw-2112">Putney Wharf,</a> marking a significant milestone in the delivery of one of Syd​ney's most anticipated waterfront communities.

Located on Sydney's harbourfront at <a href="https://www.apartments.com.au/developments/putney-nsw-2112">Putney</a>, the project has now reached its highest structural point, with construction progressing strongly towards completion in 2027. 
&nbsp; 
The milestone was celebrated on-site with project partners Phoenix Property Investors, Mitsubishi Estate Asia, Versatile Construction, <a href="https://www.apartments.com.au/architects/sjb-architects">SJB</a>, consultants and stakeholders, to recognise the collective effort behind the transformation of the historic waterfront site into a vibrant new residential, marina and lifestyle destination.

[smartcode_project:default project_id=13962 project_image_fid=362240] 
&nbsp; 
<a href="https://www.apartments.com.au/new-apartments/putney-wharf-harbourfront-precinct-20-waterview-street-putney-nsw-2112">Putney Wharf</a> will deliver a mix of waterfront residences and terraces, complemented by a private 36-berth marina, waterfront dining opportunities and a revitalised foreshore designed to reconnect the community with the river's edge. 
&nbsp; 
Abadeen Executive Chairman and Founder Justin Brown said the project represented a rare opportunity to create the next chapter in Sydn​ey's long history of successful waterfront precincts. 
&nbsp; 
"Throughout Sydney, some of the city's most sought-after addresses have emerged from carefully considered waterfront precincts such as Woolloom​ooloo Wharf, Walsh Bay and Breakfast Point," Brown said.

[smartcode_project:default project_id=13962 project_image_fid=362566] 
&nbsp; 
"What makes these places so successful is that they become much more than residential developments," Brown said.

"They bring together homes, hospitality, marina facilities, public spaces and a strong sense of community in locations where future supply is incredibly limited."

Brown has long described absolute waterfront land in Sy​dney as "finite."

"Once these opportunities are developed, they are rarely replicated. That's why Syd​ney's waterfront precincts have consistently demonstrated strong demand and long-term value growth over many decades. 
&nbsp; 
"<a href="https://www.apartments.com.au/new-apartments/putney-wharf-harbourfront-precinct-20-waterview-street-putney-nsw-2112">Putney Wharf</a> is one of the few remaining opportunities to secure a residence within a masterplanned waterfront community that combines direct water access, marina ownership opportunities and a genuine village lifestyle just moments from the Sy​dney CBD."

[smartcode_project:default project_id=13962 project_image_fid=362564] 
&nbsp; 
PERIFA Founder and Managing Director Fabrizio Perilli said the project reflected a shared commitment to delivering exceptional places that create long-term value for residents and the broader community. 
&nbsp; 
"The topping out milestone is a significant achievement for the Versatile Group and a testament to the collaboration between all project partners, consultants and contractors involved," Perilli said. 
&nbsp; 
"Beyond the residences themselves, <a href="https://www.apartments.com.au/new-apartments/putney-wharf-harbourfront-precinct-20-waterview-street-putney-nsw-2112">Putney Wharf</a> will establish a new waterfront destination that celebrates the history, character and lifestyle of this unique location while creating a lasting legacy for future generations."

[smartcode_project:default project_id=13962 project_image_fid=291195] 
&nbsp; 
Construction is being delivered by <a href="https://www.apartments.com.au/builders/versatile">Versatile Construction</a>, with structural works now substantially complete across the precinct. Attention will progressively shift to the construction of the waterview terraces, apartment façades, services and interior fit-out works over the coming months. 
&nbsp; 
With limited residences and marina berths remaining, <a href="https://www.apartments.com.au/new-apartments/putney-wharf-harbourfront-precinct-20-waterview-street-putney-nsw-2112">Putney Wharf</a> continues to attract strong interest from owner occupiers and downsizers seeking a premium waterfront lifestyle within close proximity to Putne​y Village, Rh​odes, Top Ry​de and the Syd​ney CBD. 
&nbsp; 
As one of the last opportunities to secure a residence within a new masterplanned waterfront community on Sy​dney Harbour, <a href="https://www.apartments.com.au/new-apartments/putney-wharf-harbourfront-precinct-20-waterview-street-putney-nsw-2112">Putney Wharf</a> is expected to remain a highly sought-after address for years to come.

[smartcode_project_cta:default project_id=13962]

Abadeen, PERIFA, top out Putney Wharf harbourfront precinct

Kew has long been regarded as one of Melbourne's premier residential suburbs. It's a location defined by its grand period homes, leafy streets and some of the city's most prestigious schools, yet it has often sat just outside the spotlight cast on neighbouring Hawthorn and Camberwell.

Increasingly, however, buyers are recognising that Kew offers much of what draws people to those suburbs, with a quieter residential setting, exceptional amenity and long-term owner-occupier appeal.

Within a few minutes' walk, residents can access Kew Junction, one of Melbourne's most established village centres. Cafés, bakeries, restaurants, supermarkets, boutique retailers and everyday services are all on the doorstep, with local favourites including Centonove, Adeney Milk Bar Cafe, and Frank &amp; Harri creating the type of walkable lifestyle that has become increasingly difficult to find in Melbourne's inner east. Beyond the immediate neighbourhood, Glenferrie Road's renowned shopping and dining precinct in Hawthorn and the retail, dining and entertainment offerings of Camberwell Junction are both just a short drive or tram ride away.

The suburb is equally well connected. Tram routes 48 and 109 provide direct access to the CBD, while High Street and Cotham Road connect residents to the wider inner east.&nbsp;Nearby access to the Eastern Freeway also places the Yarra Valley, Mornington Peninsula and Melbourne Airport within easy reach, adding another layer of convenience for weekend travel.&nbsp;It's a rare combination of connectivity and tranquillity, where quiet residential streets sit just moments from some of Melbourne's most established shopping and lifestyle precincts.

For families, Kew remains one of Melbourne's most tightly held addresses. Carey Baptist Grammar School, Xavier College, Methodist Ladies' College, Trinity Grammar, Ruyton Girls' School and Genazzano FCJ College are all nearby, while the Yarra River parklands, walking trails and sporting clubs provide another layer of lifestyle appeal.

It's within this established pocket that developer Ricdanic is delivering <a href="https://www.apartments.com.au/new-apartments/wimba-ave-kew-9-11-wimba-avenue-kew-vic-3101">Wimba Ave</a>, a boutique collection of just 13 residences across two buildings named after its location on the tree-lined Wimba Avenue,&nbsp;within one of Kew's most prestigious pockets where homes have been known to sell up to and above $8 million.

[smartcode_project:default project_id=140755 project_image_fid=354809]

The residences prioritise the space that buyers are increasingly searching for but struggling to find in established suburbs. Living areas extend beyond five metres in width, ceiling heights range from three to five metres, and apartments open onto private gardens averaging around 125 sqm. Selected residences also feature balconies of approximately 60 sqm, while premium inclusions include Miele appliances, double-glazed windows, EV readiness, fully electric systems and a 7.2 NatHERS energy rating.

Architect Chris Idle says opportunities to deliver homes of this scale within established suburbs have become increasingly uncommon.

"There are very few opportunities to do these kinds of developments in leafy, established suburbs," he says. "To get this level of amenity, natural light, and architectural freedom in such a setting is extremely rare."

[smartcode_project:default project_id=140755 project_image_fid=366267]

The architecture draws on Kew's established character through the use of handmade Krause bricks, while landscaping by John Patrick introduces 23 plant species, including nine native varieties, creating an environment which focuses just as much on nature as it does the building.

Construction on Wimba Ave is well underway by renowned high-end builder Sinjen, with completion expected in late 2027. Prices start from $2.22 million.

[smartcode_project_cta:default project_id=140755]

The enduring appeal of Kew's tree-lined streets and village lifestyle

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?

For the first time in a long time, Australia's inflation story is starting to look more like a landing than a fight.

The latest Consumer Price Index figures from the Australian Bureau of Statistics showed annual inflation eased to four per cent in May, down from 4.2 per cent in April. On the surface, that might not seem like a major move. Inflation remains above the Reserve Bank's target range and some categories continue to record stubborn price growth.

But the significance of this result lies less in where inflation sits today and more in what it means for where interest rates are likely heading next.

The biggest takeaway is that inflation continues to move in the right direction.

Markets had been bracing for another sticky result after a period where progress appeared to stall. Instead, headline inflation came in softer than expected, helped by falling fuel prices and easing transport costs. Annual transport inflation halved from 6.6 per cent in April to 3.3 per cent in May, while automotive fuel prices fell 11.9 per cent during the month following lower oil prices and the impact of reduced fuel excise measures.

While petrol prices don't solve Australia's affordability challenges, they are one of the most visible and immediate costs for consumers. Falling fuel costs feed through the economy quickly, helping ease pressure on household budgets and business operating expenses.

The ABS data also showed headline inflation is now sitting at its lowest annual level in several months, reinforcing the broader trend that price growth is gradually moderating.

That trend is important because it aligns with what many economists and lenders have been saying for the last month.

Prior to this week's inflation data, ANZ, NAB and Commonwealth Bank had all shifted their forecasts, now believing the Reserve Bank had likely reached the peak of the interest rate cycle. Following the May inflation release, ANZ reaffirmed that view.

In its latest economic update, ANZ said it expects quarterly trimmed mean inflation to come in at 3.7 per cent for the June quarter, slightly below the Reserve Bank's forecast of 3.8 per cent. Importantly, the bank said that outcome, when combined with slowing economic activity, "supports our view that the cash rate has peaked".

The Reserve Bank has spent the better part of three years attempting to bring inflation under control through higher interest rates. If Australia's major banks are correct and rates have now peaked, the conversation shifts from how much higher rates could go to when they might begin coming down.

Westpac's caution comes from underlying inflation. The trimmed mean, the measure most closely watched by the Reserve Bank, increased from 3.4 per cent to 3.6 per cent annually. Housing inflation remains elevated at 6.5 per cent, reflecting ongoing increases in rents, electricity costs and new dwelling construction.

Electricity prices remain particularly problematic, rising 21.1 per cent over the past year following the removal of government rebates.

Housing construction costs are also showing signs of renewed pressure. ANZ noted new dwelling costs rose 0.9 per cent in May and are now running at an annualised pace of 8.6 per cent over the past three months. Builders continue to face higher labour, fuel and material costs, a reminder that inflationary pressures have not completely disappeared.

Housing affordability has deteriorated largely because of higher interest rates rather than higher property prices alone. Even modest reductions in mortgage rates would improve borrowing capacity, increase buyer confidence and reduce repayment pressure on existing homeowners.

While August is far from a certainty, the latest inflation result has strengthened the view that the next move in rates is more likely to be down than up. For borrowers, buyers and the development sector, that alone represents a significant shift from the conversation that dominated much of the past two years.

The inflation result the property market was waiting for

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EXPERT OBSERVATION
The announcement by the NSW Government that stamp duty will be pegged to the Consumer Price Index (CPI) is a welcome small step towards reducing the cost of selling a home says the Urban Taskforce.
The announcement by NSW Treasurer Dominic Perrottet that the rate of increase in the average rate of stamp duty will be reduced is a small step forward in addressing the cost of housing.
The Urban Taskforce has argued for some time that the transactional tax on selling a home is a distortionary tax as it discourages owners to sell.
This is particularly critical as the ageing population nears retirement and many large family homes are occupied by only one or two people.
It would seem to be desirable to free up these homes for families and for retirees to move to a smaller home at this stage in their lives but the stamp duty cost is a disincentive to do this.
Unfortunately State Government Treasuries around Australia have become wedded to the massive income they get from stamp duty so they are not keen to phase out this tax. The exception is in the ACT where the government is phasing out stamp duty and replacing this with a land tax.
The Urban Taskforce believes that land tax, where smaller payments are made annually related to the value of the land, should replace stamp duty as a fairer way for states and territories to gain income from property rather than adding a tax to the sale of a house.
With house and apartment sales dropping in NSW stamp duty is reducing and this will impact on the state budget. We are concerned that in a pre-election environment the NSW government seems to be taking an anti-development approach to new housing and that this will slow down the production of new housing particularly in Sydney.
This will clearly flow on to a reduction in the number of jobs generated by the housing industry in NSW which are currently around 300,000.
The NSW Government must factor in the impact on jobs that would flow from proposed policies which seek to dramatically reduce migration with a flow onto the number of new homes needed each year.
The Greater Sydney Commission’s recent plans for Sydney’s growth over 20 and 40 years should be the framework that growth is managed within. This is particularly so as the plans were supported by a long term transport plan and an infrastructure plan.
Chris Johnson is the CEO of Urban Taskforce Australia
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NSW stamp duty reform a small step forward: Chris Johnson

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EXPERT OBSERVATION
The Real Estate Institute of Australia welcomes the recent contribution by the Master Builders Association and the Housing Industry Association to the understanding of the economic impacts of changes to current arrangements for negative gearing and capital gains tax on property.
“The commissioned research highlights the significant contribution that the property sector makes to growth in the Australian economy,” REIA President Malcolm Gunning said. “Australia’s property industry including new home building has been a crucial support to economic growth and increased employment in the transition away from a decade-long reliance on mining,” Mr Gunning said.
“The property sector is one of the largest sectors in the Australian economy in terms of employment, GDP and investment. It is also one of the most heavily taxed sectors with research by HIA showing that the average tax burden on the new housing sector is around 30 per cent of the value.
“If we are serious about addressing housing affordability we need to take a holistic approach by looking at all taxes and charges impacting on the final cost of housing. We cannot just tinker with one or two that are ‘easy fixes’ without fully considering the consequences.”
Mr Gunning said the government needs to be looking at supply-side solutions including streamlining planning processes and reducing extra taxation on homebuyers such as stamp duties.
“Improved infrastructure such as public transport to employment hubs which encourage decentralisation to more affordable suburban and regional areas should be considered. “Recognising the importance that the property sector plays in the economy, REIA advocates the appointment of a Minister for Property Services,” Mr Gunning said.
“The Minister for Property Services can take leadership in addressing housing affordability by coordinating a holistic approach of all levels of government in objectively addressing all property taxes. For example, research shows that abolishing stamp duties and replacing them with land tax not only has a greater impact on affordability than changes to negative gearing and capital gains tax but improves economic growth.
“It is only then that a strategy can be formulated that pulls the right levers,” Mr Gunning concluded.
Malcolm Gunning is the REIA President.
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REIA calls for holistic approach to property taxation: Malcolm Gunning

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EXPERT OBSERVATION
As more and more property developers turn to dual occupancy dwellings to maximise the potential of a block of land - and are now marketing these properties to investors - there are dangers of this high-risk investment. 
While there were certainly some benefits to dual occupancy investment, in particular, improved cash flow and reduced maintenance costs, the risks associated with them were high.
While dual occupancy properties look similar to duplex developments, these are completely different assets as dual occupancy homes are on one formal title as opposed to two titles, with separate utilities. 
Investors are being tempted by high rental projections, promised great returns and the lure of financial independence, however, this type of property carries major risks.
The problems could start when you apply for a loan, with a risk that the pre-settlement valuation will take into consideration the potential risk, and the formal valuation might be lower than the contractual purchase price.
There was also a risk that lenders would introduce stronger lending requirements either in the form of greater deposits (lower LVR) and/or greater serviceability given dependency on a high rental income was the substance of the investment. 
You might also have a problem when you want to sell them as these properties are on one title, meaning there are two dwellings and you have to sell them jointly. 
Also, these types of properties are largely sold to investors - whether both are rented out or whether one is rented and the other owner-occupied. Generally, at least one of them is an investment property. 
So there will be a very small number of owner-occupiers who want to buy them, as most want standalone houses on decent-sized blocks. Which means you are losing a major market segment, the owner-occupiers. 
In addition, renters also have a strong preference for standalone houses meaning, the demand by tenants for standalone houses is likely to be stronger and your rental pool is greatly reduced.  
The price of dual occupancy properties was in many cases 70 - 80 per cent or higher than the price of an off-the-plan standalone house in the same suburb, which put them in the top 5 per cent of the market and buyers at that price range preferred “houses in better places, with higher median prices. 
Pimpama, in Queensland, provides a good example of this, where the typical house-and-land package is $518,000 while some dual occupancy properties carry a price of $950,000. This places the price for dual occupancy at 80 per cent higher than a house-and-land package. It is also significantly above the top house price percentile for Pimpama, as the 90th percentile of house prices in Pimpama is $707,016 (meaning 90 per cent of all house prices in Pimpama are below this figure).
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2018/11/2/Dual%20Occupancy.jpg" alt="">
The third risk is, in many cases, there is a large supply of similar properties, so you have over-saturation of the market and renters obviously have preference for a standalone house with a big backyard, so finding tenants can become problematic, which means your actual cash flow might be lower than the projected cash flow.
In addition, potential changes to negative gearing and capital gains tax proposed under a Federal Labor government will see reduced demand to purchase rental properties due to the creation of primary and secondary markets - and this will cause dwelling prices to decline in some regions.  
The transfer of the property from you to another investor will effectively change its status from the primary to the secondary market, from a taxation perspective. This means that the same taxation benefits from a property (being the negative gearing and capital gains tax discount) would not be available to the next buyer.
Therefore, the next buyer (if the proposed changes are implemented) will have higher out-of-pocket costs, and therefore will want to pay less for the property.
DORON PELEG is CEO of RiskWise Property Research. 
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Dual occupancy investment properties a high-risk endeavour: Doron Peleg

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The Double Bay office premises of Ken Jacobs Christie's International Real Estate has been listed for sale.
Christie's, who are led by agent Ken Jacobs who recently secured the reported $100 million Fairwater sale, occupy the top floor of the <a href="https://www.realcommercial.com.au/property-retail-nsw-double+bay-503006830" target="_blank">two level Knox Street building</a>.
The 238 sqm lower ground space is tenanted by Sportscraft, which has recently been renovated throughout.
Sandwiched between the Savoy Hotel and the newly located ANZ Bank, the property also comes with an additional rear shopfront to Knox Lane.
Ken Jacobs Christie's sits on the executive office floor that spans 250 sqm.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2018/11/5/jacobs2.jpg" alt="">
The modern double storey asset with plate glass and concrete facade has a net passing income of around $435,000 per annum.
There's 485 sqm of total lettable area on its 300 sqm parcel which is zoned flexible B2 local centre.
Ray White Commercial agents Jacob Fahd and Grant Whiteman are marketing the property for a November 29 auction.
 
 
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Ken Jacobs Christie's International and Sportscraft Double Bay premises listed

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Mystery surrounds the sale of Double Bay retail and office premises that sold for $12.5 million at auction tonight.
The top bidder was Eduard Litver who owns the retail component of the Cosmopolitan Centre on the opposite side of Knox Street.
But there are whispers Litver was bidding for the Ma family who own adjoining premises. 
The family of Hong Kong press baron Ching-Kwan Ma has been buying up Double Bay in recent times.
Auctioneer James Keenan announced the 31-33 Knox Street premises on the market at $10.2 million.
There were just the two bidders.
It is sandwiched between the Savoy Hotel and the newly located ANZ Bank, which replaced the long running D'Bees Restaurant.
The property also comes with an additional rear access to Knox Lane.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2018/11/5/jacobs2.jpg" alt="">
The lower ground space is tenanted by Sportscraft, which has recently been renovated throughout with a lease that expires September 2022.
Christie's occupy the top floor of the <a href="https://www.realcommercial.com.au/property-retail-nsw-double+bay-503006830" target="_blank">two level Knox Street building</a>. The executive office floor spans 250 sqm.
The modern double storey asset with plate glass and concrete facade has a net passing income of around $435,000 per annum.
There's 485 sqm of total lettable area on its 300 sqm parcel which is zoned flexible B2 local centre.
Ray White Commercial agents Jacob Fahd and Grant Whiteman marketed the property.
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The outgoings total $64,000 including $11,000 council rates and $42,000 land tax. 
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The Ma family's last Double Bay purchase was $14.7 million on <a href="/expert-insights/investing/ma-family-buys-in-double-bay-for-14-7-million">Cross Street</a>.
There was a $12.5 million purchase by the Ma family in 2016 on Bay Street from the Perth socialite Rose Porteous.
 
 
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jchancellor-FAypfDUnLy

Mystery after Knox Street, Double Bay premises sell for $12.5 million

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Acting agent Mark Morrissey and wife Lizzi Dayney have listed their mixed-use Rosebery warehouse.
For the last decade the property has been the HQ of Morrissey Management, which has represented the likes of the Hemsworth brothers, TV presenter Jonathan Lapaglia and radio star Kate Ritchie.
The couple paid $1.35 million for the Princess Avenue building in 2008.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2018/11/2/Morrissey1.jpg" alt="">
The conversion with sky-lit interiors, exposed beams and oversized barn doors has four bedrooms above the lower level commercial space.
The listing through BresicWhitney Darlinghurst agents Ivan Bresic and Julian Barta comes with the option of a two year leaseback to the current owners.
They have a $2.75 million guide for its December 1 auction. 
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2018/11/2/morrissey2.jpg" alt="">
Morrissey and Dayney are relocating to their Whale Beach property now their children have grown up.
They paid $2.3 million for the four bedroom home in 2015.
This article was first published in the Sunday Telegraph. 
 
 
 
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Acting agent Mark Morrissey lists Rosebery warehouse

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The Woolworths Metro beneath the soon to be completed Omnia residential block above Kings Cross Station has been listed for sale just a week after opening its doors.
It is being marketed as the ultimate inner Sydney supermarket.
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Kings Cross railway station drives over 22,000 commuters through each day.
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The brand new state of the art 980 sqm space is tenanted by Woolworths, while there's also two supporting speciality shops spanning 315 sqm.
It last traded off the plan in 2016 when reportedly <a href="/news/new-woolworths-potts-point-premises-sold">bought for $16.3 million</a> by New Zealand investor Brian Cook.
The sale was subject to Woolworths not exercising a final right of refusal to acquire the property. The Woolworths was designed to cater to the area's high volume of pedestrian traffic.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2018/11/5/omnia2.jpg" alt=""> 
The retailers are signed to a 15 year net lease with a net income of $946,000 per annum, with the Woolworths base rate calculated as $505,215 p.a.
The $459,710 p.a. speciality shop rental has been guaranteed for two years.
The lease has built in fixed annual rent reviews.
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Its initial base rent is $515 per square metre plus GST per annum.
The annual rent increased are CPI capped at 3 percent.
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The tenant must pay to the Landlord the Tenants Proportion of Outgoings each year, excluding management fees.
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The trade area just off the busy Darlinghurst Road and King Cross high street is described as highly affluent, with income levels 92 percent above the Sydney Metro average.
CBRE retail investments agents Harry George and Nick Willis are marketing the property until November 29.
There are $3 million benefits from depreciation over the life of the investment.
Omnia is the latest residential and retail development in Potts Point.
The $320 million building was developed by Chinese-backed developer Greenland.
Sherwood Luo, Greenland Australia's managing director, said the Woolworths Metro store further strengthens one of Omnia’s key points of difference – convenience.
 “Having the Woolworths Metro store on the podium level really is the icing on the cake for our residents," he said.
"We are also targeting premium bar and restaurant operators for the ground floor retail tenancies, so Omnia will provide an immense level of lifestyle convenience all within the building itself.
“Omnia offers the ultimate in convenience on a number of fronts. Firstly, it’s in an exemplary position, ideally located between Victoria Street and Darlinghurst Road, adjacent to the iconic Coca-Cola sign, right in the centre of all the action, you can’t get much better. It’s also a stone’s throw from the CBD.
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Woolworths space underneath Kings Cross's new Omnia development listed

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This week, inflation and the housing market have been in focus for Australia. Offshore, data for the US remained robust, but was less so in Europe and Emerging Asia.
Australian inflation has been an enduring disappointment for the market, with actual outcomes having come in below expectations quarter by quarter for close to two years. The September quarter continued this trend, with headline and the average of the core measures again sub-consensus at 0.4% (market 0.5%) and 0.3% (market 0.4%). More significant for policy, annual headline and core inflation again fell below the 2.0%yr lower bound of the RBA’s inflation range, now 1.9%yr and 1.7%yr.
Within the quarter, there were many opposing influences, but the main theme was the offsetting of petrol and tobacco inflation by disinflation across house purchase costs and rents and the continued absence of pricing power for the retail sector. Though petrol will remain inflationary in coming months, persistent weakness in housing costs will limit the net effect for headline inflation. As the core measure typically omits energy costs, the effect here will be lopsided and result in annual core inflation holding below the RBA’s 2-3%yr target range through the end of 2019. Together with GDP growth tending back to trend in 2019, this trend will see the RBA remain on hold through 2020.
The soft housing inflation pulse is a consequence of declining house prices and rising supply (restricting rental growth). This week, the October CoreLogic house price data showed that this national decline in house prices is continuing. The decline is led by Sydney (-7.4%yr) and the top end of the market (the top 25% of sales by price down 7.7%yr versus -0.9%yr for the bottom 25%). However, we continue to see evidence of the weakness broadening, with 80% of dwellings now having seen price declines over the past six months compared to 60% for the past year. By dwelling type, losses remain largest for houses. This is consistent with the relative outperformance of houses over apartments to the cycle peak, but is also evidence that increasing apartment supply is yet to affect the price trend materially.     
Dwelling approvals data for September was also released this week. While a bounce was seen in the month, approvals are still down 14% over the year. Further, if high-rise approvals in Victoria are omitted, we estimate approvals actually fell 7.5% in September, with the weakness broad-based by state and dwelling type. Given this trend decline in prices and approvals, it is unsurprising that housing credit growth continues to decelerate. In 3-month annualised terms, total housing credit has slowed from 6.8% in May 2017 to 4.7% currently. Though investor credit has been the primary driver of this softening, owner-occupier credit has also slowed, from 8.7% in July 2017 to 6.4% currently.     
Turning to the US, GDP was again strong in the September quarter at 3.5% annualised. Driving the result was a willing consumer, with growth in this sub-sector rising 4.0% annualised – well ahead of the average of the post-GFC period. Elsewhere however, there were a number of signs that higher interest rates are beginning to take effect. This was most obvious in residential construction, now down around 3% annualised over the past nine months. More important for the economy are glimpses of weakness in business investment following a strong start to the year. The latter deceleration fits well with regional business survey detail on investment intentions, hit by trade policy uncertainty, as well as core orders and shipments, which were flat through the September quarter.
For growth to persist at an above-trend pace, consumption must continue to fire. On this front, the upside surprise for the employment cost index in the third quarter, a 0.8% gain for total compensation, was promising. That said, annual income growth still remains relatively modest at 2.8%yr. To sustain the current pace of consumption, quarterly gains nearer 1.0% are consistently needed. We are not convinced this will occur. Instead, together with tighter financial conditions, we foresee a stabilisation in nominal household incomes around 3.5%yr in 2019. Absent dissaving, this would be consistent with real household consumption closer to 2.5-3.0% annualised than the current 4.0% pace. If consumption does slow, then together with a softening pulse for business investment and the loss of extraordinary support from fiscal policy (in late 2019), US growth will slow back to trend during 2019 and result in the FOMC going on hold after three more rate hikes to June 2019.
While debate over the US economy remains focused on whether growth will be at or above trend, for Europe the risk of sub-trend growth is building. From 2.7%yr in 2017, growth slowed to a 1.6% annualised pace in the first half of 2018. And now the first estimate for the September quarter has disappointed, coming in at just 0.8% annualised, below our estimate of trend growth, 1.2%yr. One-off factors were reportedly at play in the most recent three months, so more time is arguably needed to assess the trend. External demand has been the primary reason growth has slowed in 2018, but looking forward, domestic political risks are paramount. In addition to concerns over Italy, this week, the source of uncertainty was in Germany with Chancellor Angela Merkel announcing that she will not contest her CDU Party leadership this December. She intends to remain as Chancellor until the end of the Coalition Government’s term in 2021, but will not stand for re-election.
In the UK, the Brexit deadline grows nearer. With those clouds up ahead, the BoE left rates on hold this week while retaining their gradual tightening bias. The economy is described as “broadly in balance” with the domestic labour market tight and wages growth picking up more than expected. Indeed, if it were not for Brexit uncertainty, the Bank rate would be higher, with the BoE signalling that a smooth Brexit would see a steeper rate path.   
Finally to Asia, there we have seen moderating global growth and US trade policy continue to weigh on the manufacturing sector of China and other east Asian nations. For China in particular, domestic demand remains a positive, aided of late by stabilising business and infrastructure investment. However, going forward, the downtrend in employment growth poses a risk. This highlights why authorities are becoming more active in the management of the domestic economy and US’ tariffs effect on China’s external competitiveness.
Elliot Clarke is a Senior Economist for Westpac
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Housing is subduing inflation: Elliot Clarke

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Actress Claudia Karvan and longtime partner Jeremy “Jez” Sparks sold their inner Sydney warehouse on the eve of its scheduled weekend auction.
The undisclosed price was above its $2.7 million guidance for the East Redfern warehouse.
The four-level laneway residence sold to purchasers who lived in the neighbourhood.
Karvan, currently on a film shoot in the Middle East, and Sparks, an ­engineer, had owned the four bedrooms, three bathrooms space with a garage, for 15 years.
The 280 sqm property comes north-facing rooftop terrace with city skyline views,
“I can’t imagine ever leaving Redfern,” she told The Sunday Telegraph as they own elsewhere nearby.
<a href="https://www.realestate.com.au/property-house-nsw-redfern-129470602" target="_blank">The Charles St warehouse residence</a> (above) comes with a door from a Clovelly petrol station; railway ceiling lights from Carriageworks; teak doors from Bali and a steel staircase from a 1960s factory.
It’s among five residences in the former clothing factory purchased by Sparks’s family in 1994.
The focus was on the Sydney auction market this week as Melbourne has had low auction activity due to the Spring Racing Carnival. 
Click here <a href="https://www.propertyobserver.com.au/images/2018/11/5/CL-Nov5.jpg" target="_blank">to enlarge.</a>
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2018/11/5/CL-Nov5.jpg" alt="">
The 801 Sydney auctions secured a preliminary 47 percent clearance rate, which is about three percent lower than last week.
The most expensive house reported sold was a five-bedroom, mid-century house at 2 Coolawin Road, Northbridge (below). The property with a deep-water jetty was sold for $4.81 million.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2018/11/5/north.jpg" alt="">
Sales included five-bedroom hoarders' estate at Roseville Chase.
Items dating back more than half a century saw both the home and its yard full of rubbish.
Four of the 12 registered parties took the sale price to $1.763 million, some $263,000 above reserve for the 1100sqm holding at <a href="https://www.realestateview.com.au/real-estate/17-lockley-parade-roseville-chase-nsw/property-details-buy-residential-12168233/" target="_blank">17 Lockley Pd</a> which was was described as a “worst house, best street opportunity."
The buyers’ plan to rebuild.
In Melbourne's Fitzroy North a house vacated years ago after being gutted by fire sold for $970,000.
A young couple from the Fitzroy area won the keys, The Herald Sun reported.
There was heritage facade, but the rest of the 200 sqm space would require a full rebuild costing  another $400,000 to $800,000.
There were just the two bidders on the <a href="https://www.realestateview.com.au/real-estate/106-queens-parade-fitzroy-north-vic/property-details-buy-residential-12166608/" target="_blank">106 Queens Pde offering</a> (below).
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2018/11/5/fitz.jpg" alt="">
The house was announced on the market at $910,000 by the Sydney-based vendor.
Melbourne's top sale was the so-called White House at Wheelers Hill which fetched $2.02 million, well above the $1,690,000 to $1,859,000 price guidance.
It was built by the Temelli family on the 832sq m block at <a href="https://www.realestate.com.au/property-house-vic-wheelers+hill-129499326" target="_blank">110 Grandview Rd</a> (below) bought in 1986 for $78,000.
They finished the grand residence about eight years later.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2018/11/5/Wheelers1.jpg" alt="">
Harcourts Judd White auctioneer Andrew Dimashki saw it sold to a family moving to Melbourne from China.
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Melbourne saw the most notable dip in volumes coming off the back of the second busiest week for auctions this year last week (1,709).
 
There were only 264 Melbourne homes taken to auction this week, returning a preliminary clearance rate of 50.5 per cent. Last week, a final clearance rate of 48.6 per cent was recorded across the higher volumes.
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The first week of November saw fewer homes taken to auction across all the combined capital cities, after last week recorded the fifth busiest week for auctions this year with 2,928 offerings.
 There were a total of 1,529 auctions held returning a preliminary auction clearance rate of 47.4 percent, increasing only slightly on last week’s final clearance rate of 47 per cent. 
"As the remaining results are collected, the final clearance rate will see its usual downward revision and likely come in lower than last week," CoreLogic auction analyst Kevin Brogan noted.
 Over the corresponding week last year, a much higher 61.5 per cent of auctions were successful from 2,046 listings.
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Across the smaller auction markets, Adelaide was the best performing in terms of clearance rates with 57 per cent of auctions successful, while only 33.3 per cent of homes sold across Brisbane this week.
The Brisbane sales included a two bedroom apartment in a leafy pocket of Taringa that fetched $380,000.
The <a href="https://www.realestate.com.au/sold/property-unit-qld-taringa-129446218" target="_blank">1/22 Union Street listing</a> was last sold in 1997 at $397,000.
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Claudia Karvan sells East Redfern warehouse pre-auction

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‘Mini-warehouses’ are being developed to more affordable options in the industrial market, a new report says.  
The Colliers International report said developers were responding to demand from smaller industrial users looking for assets at lower costs, said Malcom Tyson, Managing Director, Industrial at Colliers International. 
“As the economy grows, the dynamics of the industrial market have been evolving and therefore requirements for industrial space have been diversifying,” said Tyson.
“In particular, it is the growth of small businesses which employ nearly half of Australia’s workforce and generate one fifth of Australia’s GDP, that has triggered a rising demand for strata spaces.”
Australia’s industrial property is in high demand from both domestic and international investors, said Alex Pham, Director of Research at Colliers International.
“Industrial land values have experienced, and will continue to see record growth rates being driven by fierce competition for developable sites and an unprecedented level of investment.”
“With a significant pipeline of infrastructure development yet to be delivered, we can expect industrial value uplifts to continue to be supported by major infrastructure projects, boosting the efficiency of industrial operations.”
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2018/10/12/colliers%201.jpg" alt="">
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2018/10/12/colliers%202.jpg" alt="">
The main summary findings of the report were:
Summary:
<ul>
<li>From both domestic and global contexts, demand for industrial property is being fuelled by Australia’s robust economic conditions, which continues to be underpinned by a confluence of fundamental factors, including; 
</li>
<li>Strong growth in the global economy on the back of increases in global industrial production and trade - particularly across the Asia Pacific region, 
</li>
<li>The positive spillover effects from increased investment in public infrastructure, 
</li>
<li>The improvement in business sentiment (both globally and domestically) and rising non-mining business investment, 
</li>
<li>A sustainably low interest rate environment, 
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<li>A relatively low Australian dollar, boosting net exports, 
</li>
<li>Strong rates of population growth, with the five-year projection (estimated at 1.6% per annum) doubling the average of the world’s top 30 economies.</li>
</ul>
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