<p>Luxury apartment developer Abadeen has recorded $19.25 million in apartment sales across two of its Lower North Shore developments in the lead-up to the end of the financial year, headlined by the sale of a $6.75 million penthouse at <a href="https://www.apartments.com.au/buildings/koyo-crows-nest-5-rodborough-avenue-crows-nest-nsw-2065">KOYO in Crows Nest.</a></p>

<p>The transactions also included the sale of a newly completed three-bedroom apartment at <a href="https://www.apartments.com.au/buildings/park-residences-cremorne-2-sutherland-street-cremorne-nsw-2090">Park Residences in Cremorne</a> for $6.35 million, with the residence selling shortly after the project's first public inspections following completion.</p>

<p>The sales come as completed, owner-occupier-focused apartments continue to attract strong demand across Sydney's Lower North Shore, particularly from buyers looking for certainty and immediate occupancy.</p>

<p>The penthouse at KOYO spans 491 sqm across a single level and was designed by architect Koichi Takada. The development is one of Abadeen's flagship boutique projects in Crows Nest.</p>

<p>[smartcode_project:default project_id=108800 project_image_fid=370093]</p>

<p>Abadeen Executive Chairman and Founder Justin Brown said buyer activity lifted noticeably in the lead-up to the end of the financial year.</p>

<p>"We saw a clear increase in enquiry levels, inspection numbers and buyer engagement across our completed projects leading into the end of the financial year," Brown said.</p>

<p>"Buyers have become far more decisive over the past six months. The combination of improving confidence, limited supply and the ability to physically inspect completed residences is creating strong competition for premium apartments in the best locations."</p>

<p>Brown says the&nbsp;response to Park Residences following completion has been particularly strong.</p>

<p>"Buyers want certainty and are responding positively to the opportunity to walk through a finished product, inspect the quality firsthand and move in immediately," Brown suggested.</p>

<p>"Projects such as Park Residences and KOYO demonstrate that when the product is exceptional and the location is irreplaceable, buyers are prepared to act quickly."</p>

<p>[smartcode_project:default project_id=114246 project_image_fid=370116]</p>

<p>Abadeen CEO Joe Tack said quality continued to differentiate projects in the current market.</p>

<p>"Today's buyers are incredibly discerning," Tack said.</p>

<p>"They are seeking larger floorplans, premium finishes, walkability, lifestyle amenity and confidence in the developer delivering the project. Well-designed boutique developments continue to outperform because they offer something genuinely difficult to replace.</p>

<p>"The enquiry we are seeing across our completed and recently completed Lower North Shore portfolio is very encouraging, and we expect this momentum to continue into spring."</p>

<p>The sales follow increased enquiry across Abadeen's Lower North Shore portfolio which also includes <a href="https://www.apartments.com.au/buildings/northcote-collective-naremburn-2-northcote-street-naremburn-nsw-2065">Northcote Collective in Naremburn</a> which also completed recently.</p>


Joel Robinson

KOYO penthouse headlines Abadeen's $19.25 million EOFY sales flurry

<p>The City of Sydney has approved plans for <a href="https://www.apartments.com.au/developers/billbergia">Billbergia Group</a> and Metrics Credit Partners’ $3.5 billion Castlereagh Place project in the heart of the Sydney CBD</p>

<p>The towers will be among the tallest in <a href="https://www.apartments.com.au/developments/sydney-nsw-2000">Sydney</a>'s CBD, with more floors than any other residential tower in the city.&nbsp;</p>

<p>The 6,000 sqm site was acquired by the joint venture partners in 2024. It is the largest amalgamated land parcel in the Sydney CBD and comprises eight individual sites fronting Castlereagh, Pitt and Liverpool Streets.&nbsp;</p>

<p><a href="https://www.apartments.com.au/new-apartments/castlereagh-place-sydney-324-348-pitt-street-sydney-nsw-2000">Castlereagh Place</a> will transform an underutilised city block into a landmark mixed-use destination, anchored by two 82-storey towers comprising 607 luxury residences above an 8-level podium housing a 209-room luxury hotel. A 1,000 square metre civic park on ground level features a curated mix of food, beverage and retail.</p>

<p>The plans have been refined over the past year to rebalance the residential and hotel offering, and reconfigure the retail footprint to create a stronger, more dynamic dining experience.</p>

<p>A three-level flagship building on the prominent corner of Pitt and Liverpool Streets will be the gateway to the Castlereagh Place lifestyle precinct. Set to become a Sydney icon, the building is capable of housing multiple hospitality venues.</p>

<p>“Castlereagh Place is designed to be the City's next great urban oasis - an energetic mixed-use precinct that pulses with life, day and night,"&nbsp;said Joseph Kinsella, Group Director of Billbergia.</p>

<p>"It will bring the vibrancy of places like Barangaroo and Darling Quarter into a more accessible, central destination at the very heart of Sydney."</p>

<p>Kinsella said the project will build on&nbsp;Sydney’s growing laneway culture with the City’s largest network of new activated lanes - an expanded, next-generation take on precincts like Angel Place, Palings Lane and Ash Street in Wynyard.</p>

<p>[smartcode_project:default project_id=134477 project_image_fid=374401]</p>

<p>Castlereagh Place has been designed by architects <a href="https://www.apartments.com.au/architects/fjc-studio">fjcstudio</a> in collaboration with Trias Studio, Aileen Sage and Polly Harbison Design, joint winners of an international design competition in 2018.&nbsp;</p>

<p>Signature design elements from the original scheme remain unchanged, while the public domain has been significantly enhanced, delivering 60 per cent more open-to-sky space.</p>

<p>Pedestrian access will also be enhanced through new laneways linking Pitt, Liverpool and Castlereagh Streets, drawing people into a new civic park with outdoor seating, landscaping and integrated public art.</p>

<p>With activated laneways supported by strong hospitality offerings, Castlereagh Place is tipped to become a vibrant new dining destination in the heart of Sydney’s CBD.</p>

<p>It marks the largest undertaking to date for the Billbergia and Metrics Credit Partners partnership. Together they are developing other underutilised Sydney sites into mixed-use precincts, including the $2.2 billion Concord Central and the $1.3 billion Chatswood Grand Residences.</p>

<p>Metrics Managing Partner and Group CEO Andrew Lockhart said Castlereagh Place is a landmark project that will redefine Sydney’s skyline.</p>

<p>"As the tallest residential high-rise development, the revitalised site will offer panoramic views across the CBD and surrounds. We are excited to partner with Billbergia to reinvigorate an underutilised site and create a sophisticated and contemporary mixed-use offering situated in the heart of Sydney.”</p>

<p>Total apartments within the towers have increased to 607 dwellings, with a focus on larger floorplans. Aligned to growing market demand, Castlereagh Place now comprises 299 three-plus-bedroom apartments, 198 two-bedroom units and 110 one-bedroom configurations.</p>

<p>[smartcode_project:default project_id=134477 project_image_fid=374402]</p>

<p>Resident amenities will include an exclusive residents club containing a gym, rooftop pool, dining rooms, co-working spaces, library, golf simulator, games room, cinema room, and access to an exclusive concierge service. There will be around 500 basement car spaces below the towers.</p>

<p>The development will also include a state-of-the-art wellness centre, set to feature a bathhouse with magnesium pools, hot/cold plunge pools and premium amenities.</p>

<p>&nbsp;</p>

<p>According to fjcstudio, the towers will feature distinctive yet elegant architectural design reflecting Sydney’s geometry and urban character, with a network of through-site links and intimate public spaces activating the streetscape.</p>

<p>"Castlereagh Place is a city-making project of significant scale and ambition," said Richard Francis-Jones, Design Director at fjcstudio.</p>

<p>"It will create a rich urban complex of public open spaces, landscaped gardens, and vibrant laneways. Defining these new public spaces and the important streetscape of Castlereagh Street is a sequence of fine-grained, diverse retail and hotel architecture designed in collaboration with Aileen Sage, Polly Harbison Design and Trias.</p>

<p>“Rising above the tree-lined, human-scale streetscape are two slender residential towers that will transform the city skyline and look towards the Harbour, Hyde Park, and the Royal Botanic Garden.”</p>

<p>Demolition and early construction works have commenced onsite at Castlereagh Place.</p>

<p>[smartcode_project_cta:default project_id=134477]</p>


Billbergia, Metrics, approved for $3.5 billion Sydney skyscrapers

<p>International developer&nbsp;<a href="https://www.apartments.com.au/developers/spg-land">SPG Land</a> is preparing to re-launch its long-awaited $1.5 billion <a href="https://www.apartments.com.au/new-apartments/paradiso-place-surfers-paradise-103-ferny-avenue-surfers-paradise-qld-4217">Paradiso Place</a> development at Budds Beach, bringing a new price point to the Surfers Paradise apartment market.</p>

<p>The developer will release one-bedroom apartments from $825,000 and two-bedroom apartments from $1.24 million in the three-tower development.</p>

<p>According to Urbis, the starting price for the two-bedroom apartments is more than $400,000 below the weighted average sale price for comparable two-bedroom apartments in Surfers Paradise during 2025, which was pinned at $1.7 million.</p>

<p>&nbsp;</p>

<p>Urbis reported quarterly average sale prices for new two-bedroom, two-bathroom apartments ranged from around $1.2 million to $1.7 million throughout 2025, peaking in the December quarter.</p>

<p>[smartcode_project:default project_id=106566 project_image_fid=185853]</p>

<p>Paradiso Place is now moving into its formal sales campaign, with a limited early-release opportunity available ahead of the public launch.</p>

<p>The development will comprise 845 apartments across three towers rising 40, 41 and 44 storeys from a 1.15-hectare site spanning an entire city block. The towers will sit above a new retail precinct.</p>

<p>"Paradiso Place represents a rare opportunity in today's market, offering premium apartments at a price point that is significantly more competitive than anything else currently available," SPG Land Sales Director Brad McMahon said.</p>

<p>"When you look at comparable new developments across Surfers Paradise, Main Beach and the Southern Beaches precinct, buyers are typically paying hundreds of thousands more for a similar product.</p>

<p>"The scale of this project and the developer-builder construction model allows us to unlock efficiencies that smaller developments simply cannot achieve. We are passing those benefits directly to buyers, while still delivering a five-star residential experience with an unmatched lifestyle."</p>

<p>[smartcode_project:default project_id=106566 project_image_fid=374280]</p>

<p>Each of the three towers designed by Rothelowman will have its own podium, connected by an elevated skybridge network to create a beachside village for residents. The resident amenity has been designed to rival a five-star hotel, with private dining rooms, resident lounges and entertainment spaces.</p>

<p>McMahon said the pricing strategy was a deliberate response to the current market.</p>

<p>"What Paradiso Place offers is a unique balance, genuine value within a premium market. Buyers are not compromising on quality, design or amenity, they are gaining access to it at a more competitive price point at a time when prices across the Gold Coast continue to reach new highs."</p>

<p>[smartcode_project:default project_id=106566 project_image_fid=362498]</p>

<p>Located around 100 metres from the beach and within walking distance of the Surfers Paradise North light rail station, Paradiso Place occupies one of the Gold Coast's most tightly held beachfront precincts.</p>

<p>Construction is continuing to progress, with eight of the project's 112 foundation piles now complete. Excavation has also commenced on the first diaphragm wall panel, with the first concrete poured on 15 June, marking a key milestone in the project's early works program.</p>

<p>[smartcode_project_cta:default project_id=106566]</p>


SPG Land launches $1.5 billion Paradiso Place at attractive price point

<p>Luxury developer-builder <a href="https://www.apartments.com.au/developers/lowe-living">Lowe Living</a> has achieved a new Victorian benchmark for an off-the-plan apartment, with the sale of two penthouses at its ultra-exclusive Maison Savoy development in Brighton.</p>

<p>The two penthouses achieved a combined sale rate of $49,926 per sqm. Both transactions eclipsed the previous identified Victorian off-the-plan price-per-square-metre benchmark, set by the 449 sqm apartment at Como Toorak, which sold at $46,659 per sqm.</p>

<p>[smartcode_project:default project_id=140818 project_image_fid=366473]</p>

<p><a href="https://www.apartments.com.au/new-apartments/maison-savoy-brighton-150-esplanade-brighton-vic-3186">Maison Savoy</a>, Lowe Living's redevelopment of the former Brighton Savoy Hotel on absolute beachfront land at 150 The Esplanade, Brighton, has gained significant momentum since launching just eight weeks ago. Around 30 per cent of the project's 19 residences have already been secured, generating approximately $45 million in sales.</p>

<p>"Securing two of the three penthouse sales at this stage, within eight weeks of launching to market speaks to the confidence our clients place in Lowe Living," Lowe Living co-founder Emma Lowe said.</p>

<p>"They know we'll be with them through every stage of the journey, and that assurance is something we've worked hard to earn and never take for granted."</p>

<p>[smartcode_project:default project_id=140818 project_image_fid=366474]</p>

<p>Lowe said Maison Savoy was conceived as a genuine alternative to a prestige Brighton home, combining house-scale proportions with the convenience, security and lock-up-and-leave appeal of apartment living.</p>

<p>Lowe Living co-founder Tim Lowe said the early sales success demonstrated the resilience of Melbourne's prestige market and highlighted the growing demand for house-sized apartments among ultra-high-net-worth buyers.</p>

<p>"The Melbourne market has definitely been tested in recent years, with interest rates and global economic factors all creating a period of uncertainty across the real estate sector. The sales success at Maison Savoy however demonstrates that confidence remains exceptionally strong at the top end of the market.</p>

<p>"The prestige market is being driven by long-term lifestyle decisions rather than short-term market sentiment, which continues to create a level of certainty that befits an absolute beachfront property in a blue-chip location like Brighton.</p>

<p>"Brighton's fundamentals remain among the strongest in Melbourne, with limited new supply, enduring demand from an overwhelmingly local owner-occupier market, and a rare combination of beachfront amenity and proximity to the CBD."</p>

<p>[smartcode_project:default project_id=140818 project_image_fid=374378]</p>

<p>According to Cotality, Brighton remains one of Melbourne's most tightly held prestige suburbs, with an average ownership tenure of 15.3 years for houses and 12.3 years for units, while more than 73 per cent of homes are owner-occupied.</p>

<p>Tim Lowe said selling two of the project's three penthouses so early in the campaign was an uncommon result.</p>

<p>"This sales result is a reflection of quality and understanding the local market. It's incredibly rare to transact the penthouses so early in a sales campaign in any project so to have sold two of the three penthouses at Maison Savoy so soon after launch, all in-house without any external sales agency appointed, is reflective of our careful consideration of our buyers' needs and lifestyle.</p>

<p>"This is knowledge that is accumulated not just from data and demographic analysis, but via a deeply embedded understanding of how this type of buyer wants to live and feel in their home. We pride ourselves on getting to know our clients personally, and over the last 10 years we have been able to refine our product offering by talking one-on-one with our clients about their design and floorplan preferences.</p>

<p>"Being a fully integrated developer-builder with an in-house design and sales team allows us to lead every part of the process and ensure the highest quality of product and service at every touchpoint. It's a really important part of our DNA and the recent sales success at Maison Savoy indicates that our clients and purchasers are resonating with this point of difference.</p>

<p>"It reinforces that demand remains strong for thoughtfully designed residences that offer rarity, lifestyle and long-term value in tightly held locations, which ultimately validates Maison Savoy's positioning as creating a new benchmark for house-scale, wellness-led apartment living on Brighton's beachfront."</p>

<p>&nbsp;</p>

<p>[smartcode_project:default project_id=140818 project_image_fid=366480]</p>

<p>The residences at Maison Savoy start from 295 sqm, with most enjoying uninterrupted views across Port Phillip Bay. The project sits moments from the Brighton Bathing Boxes, Royal Brighton Yacht Club, Middle Brighton Baths and Church Street's retail and dining precinct.</p>

<p>A key feature of the development is its private residents-only bathhouse, curated by the founder of Aurora Spa &amp; Bathhouse and modelled on traditional European bathing rituals and the award-winning Sorrento bathhouse.</p>

<p>The wellness offering includes a hydrotherapy pool, salt room, sauna, steam room, cold plunge pool, foot activation zone and a Vichy rainfall bed, one of only a handful in Australia. Residents will also have access to a Technogym studio, lounge spaces and a dedicated concierge service offering everything from morning coffee delivery and restaurant bookings to dry cleaning and home coordination.</p>

<p>"Wellness-led design has become a defining factor for luxury buyers," Emma Lowe said.</p>

<p>"Purchasers increasingly value homes that enhance wellbeing through thoughtful design, private amenity, privacy and liveability."</p>

<p>The penthouse purchasers are now undertaking a bespoke customisation process curated personally by architect Pete Kennon and the Lowe Living team, one of the developer's signature service offerings.</p>

<p>Construction on the $160 million transformation of the former Brighton Savoy Hotel site commenced last month, with completion expected in early 2028. The project has secured funding from NAB alongside development partner Monark.</p>

<p>Just one penthouse remains available, along with a limited number of two and three-bedroom residences starting from $3.75 million.</p>

<p>Lowe Living currently has eight projects on the market across Melbourne and recently celebrated its 10th anniversary, having grown a $1 billion development pipeline alongside a $350 million construction pipeline.</p>

<p>&nbsp;</p>

<p>[smartcode_project_cta:default project_id=140818]</p>


Lowe Living set new Melbourne off the plan apartment record

<p data-end="481" data-start="254">For more than three decades, Hyecorp has been delivering residential projects across Sydney's Lower North Shore, building a portfolio centred on design-led apartment living in some of the city's most established neighbourhoods.</p>

<p data-end="817" data-start="483">Hyecorp recently launched the latest in its long line of apartment developments, Celine, a 29-storey tower on Archer Street in Chatswood. Like the majority of the developer's projects, Celine caters to a broad buyer demographic, offering a mix of one, two, three and four-bedroom apartments, all designed with owner-occupiers in mind.</p>

<p data-end="954" data-start="819">Functionality and flexibility are often buzzwords in the new apartment market, but they sit at the core of Hyecorp's design philosophy.</p>

<p data-end="1151" data-start="956">Hyecorp Joint Managing Director Stephen Abolakian says the developer understands it isn't designing apartments for today's needs alone, but for how buyers will live several years into the future.</p>

<p data-end="1277" data-start="1153">"When we launch our projects we need to be aware that these developments aren't finished for several years," Abolakian says.</p>

<p data-end="1510" data-start="1279">"That home office in the here and now might be a nursery by the time the project completes for a prospective buyer, so we need to think about how the apartment spaces function for future uses so there's longevity in the ownership."</p>

<p data-end="1618" data-start="1512">Celine's architects, Fuse, followed the same philosophy, saying the design extends well beyond aesthetics.</p>

<p data-end="2038" data-start="1620">"Celine focuses on timeless architectural form and functionality, with a strong emphasis on light, proportion and materiality. The design responds to the urban context of Chatswood while delivering calm, highly liveable interiors that feel both contemporary and enduring. The floorplans have been carefully resolved to maximise usability and outperform typical market offerings in terms of efficiency and liveability."</p>

<p data-end="2295" data-start="2040">Most apartments incorporate multipurpose rooms designed for flexibility. Each includes an integrated desk and a standard Murphy pull-down single bed, allowing the space to transition from a home office or study to guest accommodation as needs change. The layouts have also been designed to maximise natural light, storage and overall functionality.</p>

<p data-end="2474" data-start="2297">One and two-bedroom apartments feature Miele appliances, while three and four-bedroom residences are appointed with integrated Gaggenau appliances and Taj Mahal stone benchtops.</p>

<p data-end="2837" data-start="2476">Buyers who purchase early in the construction process can also take advantage of Hyecorp's "Live Your Way" interior design service, allowing them to personalise finishes and tailor elements of their home to suit their own lifestyle. It's a feature designed to appeal to owner-occupiers who want their apartment to feel uniquely theirs from the day they move in.</p>

<p data-end="2909" data-start="2839">[smartcode_project:default project_id=149594 project_image_fid=362614]</p>

<p data-end="3074" data-start="2911">While flexible floorplans have become a hallmark of Hyecorp's apartment design, the developer has also continued to place significant emphasis on resident amenity.</p>

<p data-end="3307" data-start="3076">As buyers increasingly expect more from apartment living, shared spaces have evolved beyond a gym and barbecue area. They are now an extension of the home, providing spaces to relax, exercise, entertain and connect with neighbours.</p>

<p data-end="3543" data-start="3309">At Celine, the resident amenity has been designed with a focus on wellness, centred on the level six podium. An infinity-edge swimming pool, spa, sauna and fully equipped gym are complemented by barbecue facilities and a residents' lounge, creating a range of spaces for relaxation, recreation and social connection above the streets of Chatswood.</p>

<p data-end="3821" data-start="3545">Practical conveniences have also been integrated throughout the building, including EV charging provisions, smart parcel lockers, bicycle storage, a pet wash station and dedicated car wash bays, reflecting the project's focus on making everyday living as seamless as possible.</p>

<p data-end="3893" data-start="3823">[smartcode_project:default project_id=149594 project_image_fid=362633]</p>

<p data-end="4682" data-start="4522">"Celine has been designed to deliver a refined residential experience that reflects the evolution of Chatswood into a premium urban centre,"&nbsp;Abolakian says.</p>

<p data-end="5037" data-start="4684">"With over 30 years of experience delivering projects across Sydney's Lower North Shore, Hyecorp brings a deep understanding of what local buyers value. Every detail has been considered to balance luxury, functionality and long-term liveability. This is not just about apartments, but about creating a lasting residential address for discerning buyers."</p>

<p data-end="5037" data-start="4684">Hyecorp, vertically-integrated builder-developer, is anticipating construction commencement later this year.</p>

<p data-end="5088" data-start="5039">[smartcode_project_cta:default project_id=149594]</p>


Hyecorp brings 30 years of Lower North Shore experience to Celine in Chatswood

<p>Sydney’s property market is known for high prices, competitive bidding, and mounting pressure on first home buyers. But change is on the horizon.</p>

<p>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;</p>

<h2>What is the Help to Buy Scheme?</h2>

<p>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.</p>

<p>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).</p>

<p>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.</p>

<p>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.</p>

<p>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.</p>

<p>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.</p>

<h2>How do you qualify for the&nbsp;Help to Buy Scheme?</h2>

<p>To qualify for the Help to Buy Scheme, applicants must meet the following conditions:</p>

<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>

<p>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.</p>

<p>The scheme is expected to commence in NSW in late 2025, as part of a national rollout.</p>


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

<p>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.</p>

<p>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.</p>

<p>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.</p>

<p>Below, we provide a breakdown of the First Home Owner Grants available across Australia, outlining the specific details for each state and territory.</p>

<h2>New South Wales First Home Owner Grant</h2>

<p><strong data-end="252" data-start="225">First Home Owner Grant:</strong> 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.</p>

<p><strong data-end="413" data-start="389">Stamp Duty Benefits:</strong> Provides full stamp duty exemption for homes valued up to $800,000, with concessions available for properties up to $1 million.</p>

<h2>Victoria South Wales First Home Owner Grant</h2>

<p><strong>First Home Owner Grant:</strong> Provides a $10,000 grant for first-home buyers purchasing or building new homes valued up to $750,000.</p>

<p><strong>Stamp Duty Benefits</strong>: Offers full stamp duty exemption for properties up to $600,000, with concessions available up to $750,000.</p>

<h2>Queensland First Home Owner Grant</h2>

<p><strong data-end="920" data-start="893">First Home Owner Grant:</strong> 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.</p>

<p><strong data-end="1162" data-start="1135">Stamp Duty Concessions:</strong> Provides additional concessions for properties valued up to $800,000.</p>

<h2>Western Australia First Home Owner Grant</h2>

<p>&nbsp;</p>

<p><strong>First Home Owner Grant:</strong> 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.</p>

<p><strong>Stamp Duty Concessions:</strong> Available for homes valued up to $600,000 for transactions entered into on or after 9 May 2024.</p>

<h2>Australian Capital Territory First Home Owner Grant</h2>

<p><strong data-end="1617" data-start="1590">First Home Owner Grant:</strong> Replaced by the Home Buyer Concession Scheme, offering full stamp duty concessions for eligible buyers.</p>

<h2>South Australia First Home Owner Grant</h2>

<p><strong>First Home Owner Grant:</strong> 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.</p>

<p><strong>Stamp Duty Relief:</strong> Available for new homes and vacant land purchases.</p>

<h2>Tasmania First Home Owner Grant</h2>

<p><strong>First Home Owner Grant</strong>: Offers a $10,000 grant for new homes and off the plan purchases.</p>

<p><strong>Stamp Duty Exemption</strong>: 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.</p>

<h2>Northern Territory First Home Owner Grant</h2>

<p><strong>First Home Owner Grant:</strong> The Northern Territory provides a $10,000 grant for new homes only. Additional government grants and concessions are available for first home buyers.</p>

<p><strong>Stamp Duty Exemption</strong>: The only stamp duty exemption available to property buyers is the House and Land Package Exemption (HLPE).</p>

<p><em>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.</em></p>


Every First Home Owner Grant for new property by state

<p>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.</p>

<p>Australia has multiple building rating systems that evaluate energy efficiency and sustainability in existing and new building designs.</p>

<p>Some systems assess individual building components, while others provide an overall rating for the entire structure.</p>

<p>A rating system ensures that homes are comfortable and energy-efficient, whether you are buying, renovating, or building.</p>

<p>NatHERS (Nationwide House Energy Rating Scheme) is a common way for new homes to meet energy efficiency requirements.</p>

<p>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.</p>

<h2>What is NatHERS?</h2>

<p>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;</p>

<p>NatHERS ratings are the most common way new homes meet the National Construction Code's (NCC's) minimum energy efficiency requirements.&nbsp;</p>

<p>NatHERS assessments provide thermal and whole-home ratings for new homes, townhouses, and apartments.</p>

<p>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.</p>

<h2>How NatHERS Ratings Work</h2>

<p>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.</p>

<p>The tools can model complex effects of building mass, insulation, window size, and other elements.</p>

<p>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.</p>

<p>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;</p>

<p>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.</p>

<p>Anyone can use NatHERS tools, but accredited assessors can provide certified ratings and professional advice.</p>

<h2>Benefits of Higher NatHERS Ratings</h2>

<p><strong>Energy Efficiency:</strong> 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.</p>

<p><strong>Cost Savings:</strong> 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.</p>

<p><strong>Environmental Impact:</strong> 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.</p>

<p><strong>Improved Comfort: </strong>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.</p>

<p><strong>Market Value and Desirability:</strong> 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.</p>

<p><strong>Compliance with Building Codes:</strong> 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.</p>


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?

<p>Mixed-use developments have gained significant popularity across Australia in recent years due to their unique blend of residential, commercial, and recreational spaces.</p>

<p>Unlike traditional single-purpose developments, mixed-use projects offer a harmonious integration of various functions within a single locale.</p>

<p>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.</p>

<h3>Convenience and accessibility</h3>

<p>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.</p>

<p>[smartcode_project:default project_id=114215 project_image_fid=204874]</p>

<p>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.</p>

<h3>Vibrant lifestyle and community</h3>

<p>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.</p>

<p>[smartcode_project:default project_id=107714 project_image_fid=214122]</p>

<p>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.</p>

<h3>Potential for higher rental yields and property value appreciation</h3>

<p>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.</p>

<p>[smartcode_project:default project_id=139989 project_image_fid=212887]</p>

<p>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.</p>

<h3>Enhanced security and maintenance</h3>

<p>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.</p>

<p>[smartcode_project:default project_id=108019 project_image_fid=212658]</p>

<p>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.</p>

<h3>Live-work-play balance</h3>

<p>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.</p>

<p>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.</p>


alisonwarters@gmail.com

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

<p style="line-height: 1.38;">When buying a property, everyone needs to be aware of the additional costs that come as part of the buying process.</p>

<p style="line-height: 1.38;">Often the largest outlay, after the deposit which goes to the bank, is stamp duty.</p>

<h2 style="line-height: 1.38;">What is Stamp Duty?</h2>

<p>Stamp duty is an extra tax to pay the government when you buy land, a property, and other certain assets.</p>

<p>It happens when the legal ownership is transferred. It can also be known as property transfer duty or transfer duty.</p>

<p style="line-height: 1.38;"><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></p>

<h2>Who pays Stamp Duty?</h2>

<p>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.</p>

<h2>How much does Stamp Duty cost?</h2>

<p>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.</p>

<p>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!</p>

<p>Overall, the stamp duty you need to pay will depend on:</p>

<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>

<p style="line-height:1.38">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.</p>


Ellen Walker

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

<p>For the first time in a long time, Australia's inflation story is starting to look more like a landing than a fight.</p>

<p>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.</p>

<p>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.</p>

<p>The biggest takeaway is that inflation continues to move in the right direction.</p>

<p>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.</p>

<p>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.</p>

<p>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.</p>

<p>That trend is important because it aligns with what many economists and lenders have been saying for the last month.</p>

<p>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.</p>

<p>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".</p>

<p>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.</p>

<p>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.</p>

<p>Electricity prices remain particularly problematic, rising 21.1 per cent over the past year following the removal of government rebates.</p>

<p>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.</p>

<p>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.</p>

<p>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.</p>


The inflation result the property market was waiting for

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<p>The office markets in Sydney and Melbourne are moderating after their strong run in 2016 while Brisbane and Canberra are picking up, according to the latest research by Cushman &amp; Wakefield.</p>
<p>The property agency’s national head of Office Leasing, Tim Molchanoff said: “During Q3, we saw a mild convergence across east coast office markets, as Sydney and Melbourne growth moderated from strong gains in 2016, while Canberra and Brisbane are picking up pace. A different picture is starting to emerge compared to 6 months ago.”</p>
<p>In Sydney, big deals were a key driver this quarter as major tenants moved to take up space in the CBD. In Melbourne, the big landlords competed for pre-commitments as major office developments continued at pace, he added. </p>
<p>“For Brisbane, the recovery continues with vacancies modestly tightening in the prime market with tenant favourable conditions driving office upgrades,” said Molchanoff. </p>
<p>Canberra saw the completion of Cromwell’s 30,000 sq m A-grade Tuggeranong development.” </p>
<p><a href="https://www.propertyobserver.com.au/images/2017/10/03/CushmanOffice.png" target="_blank">Click to enlarge</a></p>
<p><img src="https://www.urban.com.au/images/2017/10/03/CushmanOffice.png" alt=""></p>
<p>Following are the highlights from the 3rd quarter report.</p>
<p><strong>Sydney – big lease deals return in Q3/ Prime rent growth bounces back</strong></p>
<ul>
<li>Vacancy declined, with the Premium rate compressing 300 basis points to 9.5%, while A grade at lowest rate (3.6%) since mid 2008.</li>
<li>Prime gross effective rents at $916 per sqm - up 1.6% QoQ and 6.9% YoY</li>
<li>Major deals: Clayton Utz renewed 17,000sq m (premium) at 1 Bligh St. Jobs for NSW signed on to 17,000 sq m (B-grade) at 11-31 York St </li>
</ul>
<p><strong>Melbourne - prime vacancy tightens, rents increase/developers vye for large tenants</strong></p>
<ul>
<li>Prime net effective rents at $376 p/sq m p.a - up 1.2% QoQ and 6.9% YoY.</li>
<li>In Q3, prime outgoings rose 7% QoQ, B grade outgoings up 10% as landlords passed on higher land tax expenses</li>
<li>Landlords jostled to secure large requirements with developers like Lendlease and Mirvac behind 12 CBD office towers under construction or approved</li>
<li>Major deals include: Recoveriescorp taking 3,562 sq m and Latitude Financial taking 9,744 sqm at 800 Collins</li>
</ul>
<p><strong>Brisbane – prime market leading the recovery</strong></p>
<ul>
<li>Prime gross effective rents have remained steady at 1.1% growth y-o-y</li>
<li>Annual net absorption saw prime vacancies decline from 15.5% to 11.7%.</li>
<li>Major deals: Deloitte renewing 6,000 sqm (premium) at 123 Eagle St, DSITI taking 3,000 sqm (A-grade) at 140 Creek St and QLD Electoral commission taking 1,822 (premium).</li>
</ul>
<p><strong>Canberra - New development completed in Tuggeranong</strong></p>
<ul>
<li>$352 prime gross effective rent (per sqm)</li>
<li>5.2% State Final Demand growth (annual avg) led all services sector states</li>
<li>Major deals: Cromwell’s 30,000 sq m A-grade development completed and will be occupied by the Department of Social Services from late Sept 2017</li>
</ul>
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jonathanchancellor-7SQnKwU6yx

Sydney, Melbourne office markets moderating: Cushman & Wakefield

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<p>Raine &amp; Horne Commercial WA director Anthony Vulinovich has been named the state’s leading commercial property sales agent at the 2017 REIWA Awards for Excellence announced recently.</p>
<p>Vulinovich’s strategic approach was evident in his pre-sales to market large numbers of industrial lots within Northlink Industrial Estate at Wangara, Canning Vale’s Swan Brewery Estate Canning Vale and Tonkin Highway Industrial Estate in Bayswater.</p>
<p>Terry Menage, director, Raine &amp; Horne Commercial WA said that Vulinovich stood out from the crowd because of his great pre-sale work to secure buyer interest on behalf of land developers and as far as possible, “de-risking the land subdivision before development”.</p>
<p>“There are many hundreds of commercial sales agents in Western Australia, so this is a terrific win for Anthony and testament to his hard work and strategic commitment to selling commercial real estate over many years,” said Terry Menage, director, Raine &amp; Horne Commercial WA.</p>
<p>The ceremony was organised at a Crown Perth gala dinner.</p>
<p>“We sold pre-title over $40 million worth of land in the Tonkin Highway Industrial Estate, Perth, which is the city’s latest inner metropolitan industrial opportunity,” said Vulinovich.</p>
<p>Other significant sales in the last 12 months included a 35,500 square metre industrial site at 10 Craft Street, Canning Vale, which was purchased by Sigma Healthcare for $11.557 million. Raine &amp; Horne Commercial WA also sold 9 Brewer Road, Canning Vale to St Vincent De Paul Society WA Inc. for $5.454 million.</p>
<p>“These instructions have singularly resulted in Raine &amp; Horne Commercial WA, being the largest transactor of private industrial land subdivisions in the Perth metropolitan area over the last few years,” said Vulinovich.</p>
<p>Angus Raine, executive chairman of Raine &amp; Horne Group said that Vulinovich and Menage managed the numbers in spite of the economic downturn in Western Australia.</p>
<p>“It’s well-documented that times have been challenging, yet Anthony and Terry have managed to double their sales numbers and commission revenues over the last 3 years,” said Raine.</p>
<p> </p>
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Raine & Horne’s Anthony Vulinovich named WA’s best commercial agent 

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<p>Rothelowman Associate Principal Jonathan Cowle and Principal Jeff Brown</p>
<div class="page" title="Page 1">
<div class="layoutArea">
<div class="column">
<p><span>Previously unbuildable buildings have become a reality thanks to advances in parametric design. </span></p>
<p><span>As any architect will attest, attempting to make a pencil thin tower stand up on a small parcel of land in the middle of a city is no small feat. Nor is the humane architecture that’s needed to create highly liveable places where people aspire to reside. </span></p>
<p><span>Yet as land becomes scarcer in our cities, developers continue to search for ways to innovatively accommodate growing communities within easy reach of existing infrastructure. They look to their architects for a range of intelligent and precision-based approaches that will enable them to make these buildings as good as they can possibly be. </span></p>
<p><span>Historically expensive to create and commercialise, slender towers must achieve tight feasibility width-to-height ratios in excess of 1:12 despite highly complex wind loadings, planning, engineering and site specific matters; often enough to put off those without the deepest pockets. </span></p>
<p><span>Two such towers are underway in Queensland, where our team is working on game changing designs in Surfers Paradise and Brisbane. </span></p>
<p><span>The first, a picturesque but elementally exposed waterfront site in Wharf Rd, Surfers Paradise (above) involves the design of a 42-storey, 12m wide premium residential project at a ratio of 1:13. </span></p>
<p><span>The second, in Brisbane’s Ann St (below), is a proposed 147m high, 9m wide apartment project that, at a ratio of 1:16, would become one of the world’s thinnest buildings.</span></p>
<p><span><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/2017/10/03/Rothelowman_WharfRd.jpg" alt=""></span></p>
<p> </p>
<p>There are no general rules or principals when it comes to designing slender towers, other than to be specific to the site and local environmental and planning restraints. What matters most is the design process itself, open collaboration, understanding of science and parametrics, and a willingness to push the design envelope.</p>
<p>With a brief to create whole-floor subtropical beach houses in the sky for the Wharf Rd project, our team set about making viable a site that might previously have been deemed too tricky to develop.</p>
<p>Assembling a team of market-leading partners and consultants, we relied on science to create significant structural efficiencies that were then digitally tested and analysed in detail. We then humanised the design to create a highly resolved building that is feasible, liveable and beautiful.</p>
<p>From a parametric design perspective, the Wharf Rd process involved capitalising on an articulation zone within the planning scheme that enabled us to move what would have been a traditional inboard structure to the building’s exterior.</p>
<p>In creating this exoskeleton, we were able to alter the tower’s structural dimensions to achieve a commercially viable ratio of 1:13. In other words, we kept the same floor space and tower height but decreased the width-to- height ratio to achieve a more stable building.</p>
<p>The exoskeleton design meant we now had the ability to cross-brace the building externally via a diagrid, rather than being reliant on sheer walls and strong boxes for stability. This enabled us to open up the facade and create a truly three-dimensional building, with windows on all sides and enough asymmetries to mitigate the prevailing winds.</p>
<p>Importantly, we were able to provide highly articulated beach houses with stunning views and wonderful cross ventilation while ensuring the developer received a viable design that exceeded their commercial expectations by delivering an extra two floors.</p>
<p>It is our view that projects such as this are a precursor to what may come in Australian cities, where ownership of land is increasingly fractured, consolidation of land difficult to achieve, and populations rapidly growing.</p>
<p>When a site seems impossibly narrow, any building designed for the space will be so complex that nothing can be left to chance. These projects require the highest level of design input and management, from the facades to the car parks. Their success is dependent on architects’ ability to assemble teams that are willing to think outside the square and fine-tune each parameter along the way.</p>
</div>
</div>
</div>
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How parametric design enables previously unbuildable buildings to become a reality

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<div>When I first came to Sydney in the 1990s, there was a lot of talk about housing being expensive, although in truth it was still possible buy decent blocks of land reasonably close to the city, at least in the less fashionable inner western suburbs.</div>
<div> </div>
<div>I can also remember years ago reading a blog by Property Update contributor Stuart Wemyss, which argued that although some parts of Melbourne were evidently expensive, most of the talk about oversupply and a property bubble was just short term noise. </div>
<div> </div>
<div>Wemyss highlighted a very similar point: you could still find decent blocks of dirt close to the city, for a price that wasn't absurd - demonstrably not the case in many so-termed 'global cities', which Melbourne aspires to become - and over the years he was proven right.</div>
<div> </div>
<div>I feel a bit the same about Brisbane today.</div>
<div> </div>
<div>Sure, there are some suburbs that are expensive, as you would expect with the Greater Brisbane population approaching 2.5 million. </div>
<div> </div>
<div>But you can still find blocks of land reasonably close to the city, within a 6-8km radius of the CBD, for a relatively good price. </div>
<div> </div>
<div>Of course, there will be ups and downs, but over the next couple of cycles the right property types and locations will likely perform very well, in my opinion, especially in good school zones. </div>
<div> </div>
<div>Although some areas have been overbuilt with high rise apartments, south-east Queensland will offer some of the best opportunities over the decades ahead, as it expands as a population hub and becomes more popular with Asian migrants. </div>
<div> </div>
<div>The forthcoming Commonwealth Games will be a plus too.</div>
<div> </div>
<div><strong><span style="text-decoration: underline;">Slump, and rebound</span></strong></div>
<div> </div>
<div>Queensland has always attracted migrants from interstate, and as the resources mega-projects kicked off through the early years of the mining boom, the Sunshine State was pulling in tens of thousands of internal migrants per annum. </div>
<div> </div>
<div>These were unbridled boom years both for Queensland's economy and Brisbane housing.</div>
<div> </div>
<div>From 2010, demand for Brisbane housing slumped, broadly in tune with internal population flows.</div>
<div> </div>
<div>Unfortunately, with apartment projects often taking an age from approval to completion, this was also a time at which many interstate investors settled on new units, which are now under water, figuratively speaking (not only in Brisbane, but in other parts of Queensland too). </div>
<p> </p>
<div class="separator"><a href="https://2.bp.blogspot.com/-d0I2CmhdgPk/Wc9CDDm3V6I/AAAAAAAAmYM/Pk3tVR5P5YMB9zNT-8oVgi4R06aVWBMSQCLcBGAs/s1600/QLD2.jpg"><img src="https://2.bp.blogspot.com/-d0I2CmhdgPk/Wc9CDDm3V6I/AAAAAAAAmYM/Pk3tVR5P5YMB9zNT-8oVgi4R06aVWBMSQCLcBGAs/s640/QLD2.jpg" width="640" height="380" data-original-height="758" data-original-width="1271"></a></div>
<p> </p>
<div>More literally speaking, Brisbane experienced severe floods in 2010-11, which arguably exacerbated a downturn that was already in the post as LNG projects approached completion.</div>
<div> </div>
<div>By March this year, estimated interstate migration to Queensland had risen to its highest level since 2009.</div>
<div> </div>
<div>So, what's going on? It's partly a function of the housing market cycle, with Sydney now expensive, and congested.</div>
<div> </div>
<div>Another boon for Queensland is that took its capex downturn medicine earlier than Western Australia, so although it was painful, the drag has now ended, with roads and other infrastructure projects having kicked off.</div>
<div> </div>
<div class="separator"><a href="https://1.bp.blogspot.com/-14swRzkG8Sg/Wc9rrn08RXI/AAAAAAAAmYk/zodXh_b89Ns1Mm_M21U6coYIVx8ybiRigCLcBGAs/s1600/ENG.jpg"><img src="https://1.bp.blogspot.com/-14swRzkG8Sg/Wc9rrn08RXI/AAAAAAAAmYk/zodXh_b89Ns1Mm_M21U6coYIVx8ybiRigCLcBGAs/s640/ENG.jpg" width="640" height="380" data-original-height="825" data-original-width="1386"></a></div>
<div> </div>
<div>And, after a terrible lull, Queensland employment is suddenly now picking up, rising by an <a href="https://petewargent.blogspot.co.uk/2017/09/jobs-explosion-shatters-forecasts" target="_blank">outsized +95,400 over the year to August 2017</a>.<br><br>And population growth is in turn ramping up just as dwelling starts now collapse, helping to rebalance the ratio of demand to supply.<br><br><div class="separator"><a href="https://1.bp.blogspot.com/-NZ6sGlCUijI/Wc-BAtgAALI/AAAAAAAAmY4/jAB2Gm1ySpkxztQzoMQnS8YgwGDJsY9wgCLcBGAs/s1600/A1.jpg"><img src="https://1.bp.blogspot.com/-NZ6sGlCUijI/Wc-BAtgAALI/AAAAAAAAmY4/jAB2Gm1ySpkxztQzoMQnS8YgwGDJsY9wgCLcBGAs/s640/A1.jpg" width="640" height="390" data-original-height="830" data-original-width="1362"></a></div>
</div>
<div>You didn't really need ABS estimates to tell you about the migratory shifts, since every second person in inner city Brisbane seems to have just relocated from Sydney, or from Perth in many cases. </div>
<div> </div>
<div>With the Sydney market now slowing, there will no doubt be a great surge in interest in Brisbane property - that's just the way the cycle goes. </div>
<div> </div>
<div><strong><span style="text-decoration: underline;">White shoes alert</span></strong></div>
<div> </div>
<div>A few caveats, however, if you're thinking of buying a Brisbane property investment.</div>
<div> </div>
<div>Of all the capital cities, Brisbane plausibly has the patchiest housing market - some locations and dwelling types are experiencing strong price growth, while others are struggling big time.</div>
<div> </div>
<div>Be wary about locations prone to flooding, and definitely watch out for white ants (termites)! </div>
<div> </div>
<div>Oh, and real estate laws are different up north, so you need to understand how to make offers subject to certain conditions. </div>
<div> </div>
<div>Personally, I would buy established not new property, for way too many heads have been burned buying new of off the plan up north. </div>
<div> </div>
<div>Finally, there is a long history of southern buyers getting brazenly fleeced on Queensland property deals by slick sales techniques - the famed white shoe brigade - so make sure you don't become yet another casualty. </div>
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pwargent-M4siyDbqQY

Southerners need to avoid being fleeced by Queensland's famed white shoe brigade

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<p>Two adjacent fully leased office buildings in Geelong, Victoria’s largest provincial city, are expected to sell at a below-replacement-cost figure of around $35 million.</p>
<p>The buildings could be sold separately as well, and currently return just over $3 million combined per annum. The properties will be sold by expressions of interest closing November 3.</p>
<p>The properties are being marketed by commercial real estate firm Dawkins Occhiuto’s Andrew Dawkins, Chris Jones and Walter Occhiuto, and Pat Burke of MP Burke Commercial.</p>
<p>Dawkins said the properties would present attractive yields for investors or partial owner-occupiers and presented far more attractive numbers than similar properties in Greater Melbourne, including the prospect of strong rental upside.</p>
<p>“With pre-commitment rents in Geelong at around $440 a sqm, there is a potential arbitrage opportunity for existing buildings that are achieving rents well below those rates,” Dawkins said.</p>
<p>“The momentum in the Geelong market coupled with these new rates being achieved presents a real opportunity for both these assets.’’ </p>
<p>The property at <a href="https://www.domain.com.au/property-profile/235-237-ryrie-street-geelong-vic-3220" target="_blank">235 Ryrie Street</a> is a three-level building with advanced plans available for an additional two office levels featuring CBD and foreshore views. </p>
<p>The property is fully leased to five tenants including Bendigo Bank, Clinical Lab and Victorian Regional Chanel Authority returning $748,076 per annum net.</p>
<p>The <a href="https://www.domain.com.au/property-profile/235-237-ryrie-street-geelong-vic-3220" target="_blank">237 Ryrie Street</a> asset is a modern (2008) building of five office levels, featuring a glass curtain facade and an atrium above the foyer. </p>
<p>It is fully leased to eight tenants including Australian Red Cross, Bendigo Bank, Department of Human Services and Morris Finance, returning $2,345,525 per annum net.</p>
<p>Leased to 5 and 8 tenants</p>
<p>Burke added that increased government and private spending indicates a growing confidence in Geelong along with its record population growth.</p>
<p>“Geelong is currently in the midst of an investment and infrastructure boom with more than $1.3 billion of major construction underway or nearing completion and a further $2.3 billion worth of investment either awaiting commencement or in the planning stages. </p>
<p>“The construction of the 14-level, $120 million WorkSafe headquarters in Malop Street epitomises Geelong’s relatively recent emergence as a key commercial centre including a number of national government tenants with the TAC, the ABS, NDIS and DHS.</p>
<p>The city of greater Geelong has a current population of more than 229,000 people, which is expected to grow to 320,791 by 2036.</p>
<p> </p>
<p> </p>
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Geelong office duo expected to fetch $35 million

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<p>The long weekend saw significantly fewer auctions, according to CoreLogic’s latest report.</p>
<p>The property data firm says that the clearance rate held firm.</p>
<p>The combined capital cities saw significantly fewer auctions this week, with a total of 953 auctions held; the lower activity a result of most states being host to a long weekend as well as both the AFL and NRL grand finals taking place.</p>
<p>Despite lower auction volumes, clearance rates held firm, returning a preliminary result of 69.4 per cent, rising from the 66.2 per cent last week when final results saw volumes reach their highest level since May this year (2,782).</p>
<p><a href="https://www.propertyobserver.com.au/images/2017/10/01/Screen%20Shot%202017-10-01%20at%2011.34.00%20am.jpg" target="_blank">Click to enlarge</a></p>
<p><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/2017/10/01/Screen%20Shot%202017-10-01%20at%2011.34.00%20am.jpg" alt=""></p>
<p>Melbourne was the main driver of the strong clearance, with a preliminary result just under 90 per cent.</p>
<p>Over the same week last year, activity was equally subdued, with 872 auctions held and 75.8 per cent successful.</p>
<p><a href="https://www.propertyobserver.com.au/images/2017/10/01/Screen%20Shot%202017-10-01%20at%2011.34.10%20am.jpg" target="_blank">Click to enlarge</a></p>
<p><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/2017/10/01/Screen%20Shot%202017-10-01%20at%2011.34.10%20am.jpg" alt=""></p>
<p>Brisbane was the only capital city to see a rise in volumes week-on-week.</p>
<p>Melbourne saw the most significant drop in volumes this week, with only 118 auctions held.</p>
<p>With such a low volume of auctions held, the preliminary auction clearance rate bounced higher to reach 89.4 per cent, rising on last week’s 70.6 per cent across a much higher 1,361 auctions.</p>
<p>While one year ago, 114 auctions were held and an 87.2 per cent clearance rate were recorded.</p>
<p><a href="https://www.propertyobserver.com.au/images/2017/10/01/Screen%20Shot%202017-10-01%20at%2011.34.21%20am.jpg" target="_blank">Click to enlarge</a></p>
<p><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/2017/10/01/Screen%20Shot%202017-10-01%20at%2011.34.21%20am.jpg" alt=""></p>
<p>The busiest sub-region this week was Melbourne’s West, despite the grand finals slowdown the region recorded a preliminary auction clearance rate of 92.0 per cent across the highest volume of auctions (32).</p>
<p>In Sydney, 597 auctions were held this week, down from 1,033 over the previous week, however higher than the 530 auctions held over the corresponding week last year.</p>
<p>The preliminary clearance rate of 69.1 per cent is up from the 65.9 per cent last week, and lower than the 82.5 per cent one year ago.</p>
<p><a href="https://www.propertyobserver.com.au/images/2017/10/01/Screen%20Shot%202017-10-01%20at%2011.34.27%20am.jpg" target="_blank">Click to enlarge</a></p>
<p><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/2017/10/01/Screen%20Shot%202017-10-01%20at%2011.34.27%20am.jpg" alt=""></p>
<p>Across the Sydney sub-regions, the Northern Beaches region recorded the highest rate of clearance with 87.0 per cent of the 64 auctions clearing, while the Northern Sydney and Hornsby region held the most auctions (79).</p>
<p>Brisbane’s preliminary auction clearance rate this week was 48.3 per cent, down slightly from 48.7 per cent the week prior.</p>
<p>Auction volumes increased week-on-week, with 140 auctions held, up from the 126 last week and higher than the 115 one year ago when 43.8 per cent cleared.</p>
<p><a href="https://www.propertyobserver.com.au/images/2017/10/01/Screen%20Shot%202017-10-01%20at%2011.34.35%20am.jpg" target="_blank">Click to enlarge</a></p>
<p><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/2017/10/01/Screen%20Shot%202017-10-01%20at%2011.34.35%20am.jpg" alt=""></p>
<p>Across the Gold Coast, 25.9 per cent of the 27 reported auctions were successful.</p>
<p>A total of 40 Adelaide homes were taken to auction this week, recording a preliminary auction clearance rate of 79.3 per cent across 29 results, up from 75.7 per cent over the same week last year when 45 auctions were held across the city.</p>
<p><a href="https://www.propertyobserver.com.au/images/2017/10/01/Screen%20Shot%202017-10-01%20at%2011.34.42%20am.jpg" target="_blank">Click to enlarge</a></p>
<p><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/2017/10/01/Screen%20Shot%202017-10-01%20at%2011.34.42%20am.jpg" alt=""></p>
<p>In Perth, only 13 auctions were held this week, recording a preliminary clearance rate of 75.0 per cent across 8 results, which is higher than both last week’s result (28.2 per cent) and the clearance rate from one year ago (45.5 per cent), however volumes were lower this week.</p>
<p>Across Canberra a total of 44 auctions were held this week, compared to 86 last week and 49 at the same time last year. Canberra’s preliminary clearance rate of 75.7 per cent is higher than it was the previous week (67.9 per cent).</p>
<p> </p>
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j.ballantyne1990-6AQqhLzZaK

Long weekend results in fewer auctions: CoreLogic

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<p>A three bedroom house at Buronga, NSW, has been listed at $345,000 after its mortgagee auction failed to find a buyer last month.</p>
<p>Located at <a href="https://www.realestate.com.au/property-house-nsw-buronga-126270402" target="_blank">204 Pitman Avenue</a>, the 937 square metre property is on the outskirts of Buronga <span>near the Murray River and has </span>with three bedrooms - all with their own walk-in robes - while the master has its own ensuite.</p>
<p>The kitchen features 900 millimetre gas cooktop and oven as well as storage, walk-in pantry, gas heating and HWS and ducted cooling.</p>
<p>The lounge could easily be converted into a fourth bedroom or study, while there is also an entertainment area with café blinds overlooking the pool.</p>
<p>Mildura is located only five minutes away from the property.</p>
<p>The property is offered through Ray White agent Brett Driscoll.</p>
<p>A three bedroom house at <a href="https://www.realestate.com.au/sold/property-house-nsw-buronga-124758618" target="_blank">11 Tower Court</a>, Buronga (below) was sold for $207,000.</p>
<p>Built in 1990, the 710 square metre house was last sold for $160,000 in 2012.</p>
<p><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/2017/09/19/11%20Tower%20Court.jpg" alt=""></p>
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No sale for three bedroom Buronga house listed for mortgagee sale

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<p>Two office suites in Sydney CBD’s prized financial precinct have changed hands for a total of nearly $1.2 million in separate deals.</p>
<p>Both the suites at <a href="https://www.realcommercial.com.au/property-offices-nsw-sydney-502425230" target="_blank">84 Pitt Street</a> were sold via private treaty.</p>
<p>The building, once known as the Australian Business &amp; Conference Travel House, spans 15 storeys and includes almost 70 strata titled units.</p>
<p>The suite at the rear of Level 1 of 74 sqm sold for $705,000, while another 43 sqm suite on the southern side of Level 10 sold for $475,000.</p>
<p>The deals were negotiated by Ray White Commercial’s John Skufris and Will Mulvihill of Henderson &amp; Horning on behalf of private owners.</p>
<p>"Both suites sold via private treaty with purchasers planning to eventually owner occupy,” said John Skufris of Ray White.</p>
<p>Another 75 sqm office suite near Martin Place is on the market. The suite is located at Hengrove Hall, 193 Macquarie Street.</p>
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Office suites in Sydney CBD strata building sell for $1.2 millon

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<p>A shopping centre in the riverside city of Launceston in Tasmania has been sold through Savills for $38.55 million.</p>
<p>The off-market transaction for <a href="https://www.linkedin.com/company/2588298/" target="_blank">Mowbray Marketplace &amp; Target Centre</a> adds to Savills’ recent track record of more than $128 million worth of Tasmanian retail investment deals. </p>
<p>The sub-regional shopping centre is anchored by Woolworths and Target, in addition to 16 other shops.</p>
<p>It has a total lettable area of more than 12,000 sqm.</p>
<p>The selling agent was Pat De Maria.</p>
<p> </p>
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Tasmanian shopping centre fetches $38.55 million: Savills

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<p>Brisbane is at the 11th spot among global cities for the most office floor space that can be bought for US$100 million, fetching 14,607 sqm in the CBD area but this could change as the leasing market recovers and prices head north, says a new report by Knight Frank.</p>
<p>The report, Global Cities 2018, compares how much USD100 million will buy of prime office space in 34 top cities across the world. </p>
<p>Melbourne and Sydney sit at 15th and 23rd on the list respectively, with Melbourne fetching 12,719 sqm of CBD office space for USD100 million while the same money can get you 7,087 sqm in Sydney.</p>
<p>Knight Frank’s managing director, Queensland, Ben McGrath said that investor interest has continued to build in the Brisbane CBD market due to the Sydney and Melbourne CBDs recording lower yields and a climate of fewer opportunities. </p>
<p>Brisbane’s office leasing market is recovering, creating limited time to purchase office assets to fully benefit from the expected recovery in tenant demand, according to Knight Frank’s latest research.</p>
<p>“The certainty that the leasing market has bottomed in the Brisbane CBD is providing impetus to the investment market with the view that now is the time to purchase assets to fully benefit from the expected recovery in tenant demand,” said McGrath.</p>
<p>“Additionally, the demand from large tenants for new space will provide the opportunity to secure core investments with limited national supply of these assets.”</p>
<p>Investment demand is also rising because of continued high spread in yields Brisbane has with Sydney and Melbourne, added Knight Frank’s joint head of Institutional Sales, Australia, Ben Schubert.</p>
<p>According to the Global Cities report, Brisbane’s prime office yields sit at 28th in the world out of the 34 cities monitored, with yields at 6.38%, while Sydney and Melbourne are at 20th and 22nd respectively with Sydney yields at 5.06% and Melbourne yields at 5.25%. </p>
<p>“While both Sydney and Melbourne CBDs are far further through the leasing demand cycle, with signs of improvement in the Brisbane market, investment interest has further increased. Yields remain under downward pressure with interest in the Brisbane market continuing to build. Both the yield gap to Sydney and Melbourne and positive signs in the Brisbane leasing market is underpinning this investment interest,” said Schubert.</p>
<p>Knight Frank’s head of Commercial Sales, Australia Paul Henley said, “Investors are increasingly expanding their global portfolios. Those cities going through an evolution driven by a compelling mix of education, lifestyle, infrastructure, technology and real estate makes them places where people want to work, shop, play, and live.”</p>
<p>Knight Frank’s director, Research, Australia Michelle Ciesielski said prime yields have continued to firm in the Brisbane CBD, having fallen to a median range of 5.8% to 6.95% as demand grows.</p>
<p>“In Sydney, the strong investor demand, particularly from offshore investors, is putting significant pressure on yields across the grades, but more so on secondary assets which have a lower price point,” she said.</p>
<p>She cited the sale of 20 Bridge Street on a sub-5% core market yield as an indicator that prime assets in the CBD core are expected to be traded between 4.5% and 5.25%. </p>
<p>“This will be further affirmed when the sale of Wynyard Place is concluded, with market expectation for a yield of close to 4.7%,” said Ciesielski.</p>
<p>In Melbourne, fewer buying opportunities with strong investor demand, particularly by offshore investors, has further compressed prime yields, added Henley. </p>
<p>“Looking ahead, investment volumes are anticipated to remain above the five-year average in 2017. This is unlikely to match volumes recorded in 2014 as impacted by the scarcity of investment opportunities rather than diminishing investor appetite,” concluded Henley.</p>
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