Local developer Harridan is seeking to turn its Woolloongabba apartment project into the first stage of a broader transformation of Burke Street, using a new 16-storey mixed-use building to establish a greener pedestrian connection toward the rapidly evolving Boggo Road transport and knowledge precinct.

The South East Queensland developer has filed plans for 154 apartments on the <a href="https://www.apartments.com.au/new-apartments/4-burke-street-woolloongabba-qld-4102">southern side of Burke Street</a>, where its proposal has been designed alongside a wider vision by LatStudios for the street.

That vision positions the southern side of Burke Street for buildings of 15 storeys and above, while envisaging lower-rise development of up to five storeys on the northern side to transition into Woolloongabba's existing character housing. It also proposes wider pedestrian verges, deep planting, new street trees and upgrades to the pedestrian approach to Boggo Road Station.

The Harridan development itself has been designed by Brisbane-based Arqus Design and will comprise 154 apartments across 16 storeys. The mix is weighted heavily toward two-bedroom apartments, with 121 proposed alongside 10 one-bedroom and 23 three-bedroom residences. There will typically be around 14 units per floor.

A lower-ground car park and three podium levels will accommodate 156 resident parking spaces, along with visitor and commercial parking. There will also be 154 resident bicycle spaces and 40 visitor bicycle parks.

&nbsp;

Harridan is a family-owned developer and part of the Holmwood Highgate Group, with more than three decades of development activity across South East Queensland. Its portfolio spans residential, commercial and industrial property, with current residential projects including Riverbank on Byron in Bulimba, Esperance Residences in Carina and The Precinct at Kinross Road in Thornlands.

Wooloongabba has been popular for apartment developers, particularly since the announcement of the 2032 Summer Olympics games in Brisbane.

While there have been a lot of development applications, it has failed to materialize into real supply.&nbsp;

Sarazin has been the major player in the area. They are under construction at Murcia Residences, on the fringe of East Brisbane and Woolloongabba. They have just launched <a href="https://www.apartments.com.au/new-apartments/the-stanley-residences-woolloongabba-8-trafalgar-street-woolloongabba-qld-4102">The Stanley Residences</a>, in Woolloongabba on Trafalagar Street. They also have Nuage coming soon on the nearby <a href="https://www.apartments.com.au/new-apartments/nuage-woolloongabba-14-wellington-road-woolloongabba-qld-4102">Wellington Road</a>.

Joel Robinson

First look: Harridan plans Burke Street transformation beside Boggo Road transport hub

IN BRIEF

<ul>
	<li>
	Just three double-storey Sky Homes sit at the top of The Waterline, each with its own private marina berth and rooftop terrace.
	</li>
	<li>
	Construction on The Waterline is complete, with the first residents expected to move in from mid-October.
	</li>
	<li>
	Sky Homes range from 282 sqm to 367 sqm and are priced from $3.65 million.
	</li>
</ul>

<hr />
Lewis Land has opened the first completed sky home for inspection at Harbour Shores, giving buyers their first opportunity to step inside one of just three double-storey residences crowning The Waterline.

Each sky home comes with its own private marina berth, rooftop terrace and Broadwater views, combining the scale of a larger home with direct access to the boating lifestyle that underpins the wider <a href="https://www.apartments.com.au/new-apartments/harbour-shores-biggera-waters-564-oxley-drive-biggera-waters-qld-4216">Harbour Shores</a> masterplan.

[smartcode_project:default project_id=113271 project_image_fid=366708]

Lewis Land Head of Development Michael Long said the inclusion of a berth with every Sky Home had become increasingly valuable as marina access across the Gold Coast tightened.

“Marina berths are becoming increasingly difficult to secure across the Gold Coast, so including one with every Sky Home makes this a genuinely rare offering,” Long said.

“The private 70-berth marina will accommodate boats up to 12 metres in length and is positioned just 2.5 kilometres from the Broadwater, placing the open ocean only 15 minutes away.

“Being able to step out of your home onto your boat is a rare luxury, and it’s something residents here can look forward to when it opens later this year.”

[smartcode_project:default project_id=113271 project_image_fid=366709]

The display opening comes as construction completes on The Waterline, with the first residents expected to move in from mid-October.

The three Sky Homes range from 282 sqm to 367 sqm and each feature three bedrooms, three bathrooms, multiple living zones, expansive kitchens with butler's pantries and large balconies taking in the Broadwater outlook.

Each residence also has three secure basement car spaces and additional storage.

“This is the first opportunity the Gold Coast has had to step into Harbour Shores and see, touch and feel what we’re bringing to life here,” Long said.

“There are only three Sky Homes within The Waterline, ranging in size from 282sqm to 367sqm, with each residence featuring three large bedrooms, three bathrooms, multiple living zones, expansive custom-built kitchens with butler’s pantry, and large balconies capturing Broadwater views.”

<img alt="Harbour Shores" data-entity-type="file" data-entity-uuid="bab65e10-4fab-45e1-92d8-fc56e2ab98ff" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-25%20at%202.00.16%E2%80%AFPM.png?VersionId=XT8q76LsPkw3cYTsvN3JfFDaPLud90PN" />

Residents of The Waterline will have access to a private pool, along with Harbour Shores' wider collection of amenity including a lagoon pool, social clubhouse, tennis court, gym, yoga facilities and sauna.

Lewis Land partnered with Studio Collective to furnish the completed display, with the interiors designed to demonstrate how the residences could function as permanent homes rather than simply as show apartments.

Studio Collective Director Melissa Park said the surrounding waterways informed the interiors, but in a more restrained way than a traditional coastal scheme.

“We drew inspiration from the canals and coastal surrounds, but our approach was to interpret that subtly through layered materials and a grounded palette of earthy tones, rather than literal coastal references,” Park said.

“We introduced hero moments of green and teal to reference the surrounding waterways, while mirrored elements help reflect natural light.

“The result is a residence that feels elevated yet comfortable, somewhere buyers can genuinely imagine themselves living, entertaining and unwinding.”

Sky Homes are priced from $3.65 million.

Lewis Land is also offering private marina berths with The Residences, its limited collection of three and four-bedroom villas positioned directly along the Harbour Shores waterfront boardwalk.

Three-bedroom villas are priced from $2.99 million, while four-bedroom residences start from $3.19 million.

Harbour Shores is being marketed by Colliers International.

[smartcode_project_cta:default project_id=113271]

Lewis Land opens sky home display as The Waterline completes at Harbour Shores

St Vincent de Paul Society Housing Australia has filed plans for a major mixed-use housing precinct on the southern edge of the North Sydney CBD, adding another significant proposal to a pocket around North Sydn​ey Station that is quickly becoming one of the LGA's busiest development zones.

The State Significant Development Application covers a 5,990 sqm site at <a href="https://www.apartments.com.au/new-apartments/1-19-mackenzie-street-lavender-bay-nsw-2060">1-19 MacKenzie Street and 211 Blues Point Road in Lavender Bay</a>, immediately south of Nor​th Sydney Station and between the commercial core and the lower-rise Lavender Bay Heritage Conservation Area.

Designed by Wardle, the proposal would deliver a new residential tower comprising 88 build-to-sell apartments and 19 affordable apartments, alongside a separate co-living building with 57 rooms and a building manager's studio.

It would also see the significant restoration and upgrade of St Francis Xavier Catholic Church, the adaptive reuse of the former school building, new parish facilities, retail, a new public square and around 1,000 sqm of publicly accessible open space.

<img alt="Vinnies North Sydney" data-entity-type="file" data-entity-uuid="d5dd7f87-a617-463e-b577-17541e01f0e9" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-26%20at%209.10.13%E2%80%AFAM.png?VersionId=4R8TsFN3P_LrrXO2HswTOIrx2blil8lh" />

The project is seeking a concurrent rezoning of the site to R4 High Density Residential and an increase in the maximum building height to allow a tower reaching RL120, or up to 20 storeys. The proposal was progressed through the NSW Government's Housing Delivery Authority pathway.

The build-to-sell component will be weighted toward larger apartments, with just six one-bedroom apartments compared with 31 two-beds, 43 three-beds and eight four-bedroom residences.

The 19 affordable apartments will comprise two studios, 15 one-bedroom apartments and two two-bedroom apartments, taking the total apartment component to 107 residences before the 58 co-living rooms are included.

<img alt="Vnnies" data-entity-type="file" data-entity-uuid="7d568ca5-cb90-4e18-96c6-d9795dba0c56" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-26%20at%209.10.05%E2%80%AFAM.png?VersionId=GY2R5M9VtQh0EKy1vajaea19PSLOPuRD" />

Wardle's design for the Vinnies site has sought to negotiate that emerging high-rise context while retaining the lower-scale character of MacKenzie Street and the adjoining heritage conservation area.

The main building adopts a three-storey podium and tower arrangement, with the podium aligned to the ridgeline and front setback of St Francis Xavier Church.&nbsp;Wardle has designed the podium with colonnades, seating, recessed entries and active ground-floor frontages, with sandstone-toned precast concrete and face brick referencing the materiality of the existing church.

The tower then steps back eight metres to the south and six metres to the north before rising in a sculpted form comprising four interlocking quadrants. Wardle has also introduced rounded forms and chamfered corners to reduce the tower's perceived bulk and improve view sharing with neighbouring development sites.

Resident facilities and outdoor areas are planned at the separation between the podium and tower at Level 3, oriented toward Sydney Harbour and the CBD skyline.

The tower itself will feature a glass reinforced concrete facade, with recessed balconies and deep reveals used both to provide shading and privacy and frame views toward the harbour and city. The lower levels take a different architectural approach, using brick and sandstone-toned finishes intended to establish a stronger relationship with St Francis Xavier Church. The Church itself will be conserved and upgraded for its continued use, while the former school building will be adaptively reused as part of the co-living component.

<img alt="Lavendar Bay" data-entity-type="file" data-entity-uuid="2d4418ad-90aa-4d49-af93-c80b140aea80" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-26%20at%209.09.47%E2%80%AFAM.png?VersionId=Kv4gzbsACaGvZSRuaqcfGC54jEJRXIDJ" />

&nbsp;

The proposal adds to an increasingly concentrated pipeline of residential development around Blue Street, MacKenzie Street and Lavender Bay.

Just west of the site, Central Element lodged plans earlier this year for one of the most significant residential developments proposed in Lavender Bay in recent years.

Central Element's SJB-designed scheme at 64-66 Lavender Street and 3-7 Middlemiss Street would deliver 163 apartments across two towers rising 23 and 32 storeys, replacing five existing apartment buildings containing 32 homes. The project also forms part of the Housing Delivery Authority pathway.

<a href="https://www.apartments.com.au/news/nsw/first-look-central-element-reveals-lavender-bay-apartment-plans?utm_source=chatgpt.com" rel="noopener" target="_blank">First look: Central Element reveals Lavender Bay apartment plans</a>

Immediately around North Sy​dney Station, another two significant proposals have emerged at 5 and 15 Blue Street.

Zurich Australian Insurance Properties is seeking to adaptively reuse its longstanding commercial building at 5 Blue Street, directly above North Sydney Station, rather than demolishing the structure.

Its SSDA proposes converting the building into a 14-storey mixed-use development with 62 apartments and 86 co-living rooms, together with ground-floor retail and a major refurbishment of Blue Street Plaza. The application is currently at the Response to Submissions stage.

<a href="https://www.apartments.com.au/news/nsw/first-look-zurich-targets-north-sydney-office-conversion-with-148-unit-proposal-above-metro-station">First look: Zurich targets North Sydney office conversion with 148-unit proposal above Metro station</a>

&nbsp;

First look: Vinnies files for 20-storey Lavender Bay apartment tower as North Sydney housing pocket heats up

When the opportunity arose for South Australian developer Palumbo to return to Kent Town, where it had previously delivered East Park Apartments and the East 
Rundle Apartments, it wasn't one the longstanding developer-builder was going to pass up.

The decision was quickly vindicated, with more than 30 apartments sold within the first month of launching <a href="https://www.apartments.com.au/new-apartments/royal-apartments-kent-town-2-8-north-terrace-kent-town-sa-5067">Royal Apartments</a> to the market.

The 206-apartment development, which will bring significant new supply to Adelaide's tightly held eastern city fringe, also gives <a href="https://www.apartments.com.au/developers/palumbo">Palumbo</a> the opportunity to bring new life to one of Kent Town's most recognisable watering holes.

[smartcode_project:default project_id=6109 project_image_fid=376073]

Royal Apartments incorporates the historic Royal Hotel, a venue Palumbo Managing Director Daniel Palumbo said has a longstanding connection with the local community.

"Everyone in the area has history with the Royal Hotel," Palumbo told Apartments.com.au.

"It was quite an active pub and social gathering place for locals. We want to bring it back to its former glory."

[smartcode_project:default project_id=6109 project_image_fid=376072]

The wider development will comprise two residential towers alongside the restored hotel, sitting on North Terrace opposite the Adelaide Park Lands.

For Palumbo, the project also marks a return to familiar territory.

The developer completed East Park Apartments next door more than a decade ago and jumped at the opportunity to develop in Kent Town again when the Royal Hotel site became available.

"The opportunity emerged, and we moved to secure the site," Palumbo said.

"We were approached by the previous landowner, who said they had extensive commitments in Sydney and weren't in a position to deliver the project.

"We took over the site and within six months recut the design scheme to be more in keeping with the type of development we want to bring to Adelaide.

"Now we're on the market and those changes have really resonated with local buyers."

That has translated into a strong start to sales, with 33 apartments transacting in the project's first 35 days.

Palumbo said the early purchaser profile had been consistent with the group's traditional focus on owner-occupiers rather than investor-led apartment stock.

"Local owner-occupiers have always been our market," he said.

"There are always some investors, but we've never developed what would be called traditional development stock. Owner-occupiers are very much our market."

[smartcode_project:default project_id=6109 project_image_fid=376068]

The buyer mix has been diverse so far, with downsizers and younger professionals both accounting for a significant portion of early sales.

South Australia's current stamp duty settings, which allow&nbsp;eligible homeowners in South Australia aged 60 savings of up to $103,830 on stamp duty when they downsize to a new property valued at up to $2 million,&nbsp;have helped encourage downsizer activity, while younger buyers in their late 20s and early 30s have been attracted to the opportunity to live immediately outside the CBD while still being able to walk into the city.



Location has been a major part of the proposition for both buyer cohorts.

[smartcode_project:default project_id=6109 project_image_fid=376075]

Royal Apartments sits on North Terrace directly opposite the Adelaide Park Lands, with residents able to walk through the parklands toward the East End, Rundle Street and Rundle Mall.

Apartments have been positioned to capture views across the parklands, Adelaide skyline, Botanic Gardens and Adelaide Hills.

Palumbo believes the scarcity of developable land along this section of the Park Lands makes the site particularly difficult to replicate.

"There's very few allotments on that side that can be developed," he said.

"If this location was in New York and you were sitting on Central Park, you'd be talking about a $60 million apartments."

Royal Apartments will offer a broad mix of residences, ranging from one-bedroom apartments through to four-bedroom sub-penthouses and penthouses.

Current listings include one-bedroom apartments from $680,000, while larger three and four-bedroom residences are priced around $2.5 million.

Residents will have access to a swimming pool, gym, barbecue and recreation areas, residents' lounge and dining space, and a communal deck.

[smartcode_project:default project_id=6109 project_image_fid=376067]

The apartments will feature generous balconies, while secure parking, bicycle storage and storage cages will also be provided.

A porte-cochère-style arrival and drop-off area has also resonated with buyers, particularly those attracted to being able to walk into the CBD during the day while retaining secure vehicle access at home.

Palumbo is acting as developer, architect and builder on Royal Apartments, continuing the vertically integrated model it has used across its South Australian portfolio.

The group was also behind the $150 million Sofitel Adelaide, the 251-room five-star hotel and residential tower which opened in 2021.

Palumbo said Royal's launch had come at an interesting time for the broader Adelaide apartment market.

Buyer confidence had initially been impacted by uncertainty surrounding the Federal Budget and broader economic conditions, but Palumbo believes sentiment is beginning to improve against a backdrop of significant investment flowing into South Australia.

He pointed to increased activity across defence and resources, including Olympic Dam, as potential long-term drivers of the state's economy and housing market.

"Money is starting to flow into Adeliade, significant amounts as Adelaide bucks the trend of the rest of the country.," Palumbo said.

"There's a lot of activity in the economy over the next decade. I think more investment will come into this market."

Early works on Royal Apartments are expected to commence this year, with major construction activity and cranes anticipated on site from early next year.

[smartcode_project_cta:default project_id=6109]

Palumbo's return to Kent Town strikes early chord with buyers

Go-to builder-developer <a href="https://www.apartments.com.au/developers/graya">GRAYA</a> is continuing to bulk out its already impressive and diverse apartment portfolio across South East Queensland. Their latest milestone is securing development approval for Silk, its boutique riverfront apartment development in St Lucia.

The approval clears&nbsp;the way for the team to begin construction planning for the 22-residence project.

<a href="https://www.apartments.com.au/new-apartments/silk-st-lucia-16-18-sandford-street-st-lucia-qld-4067">Silk</a> will rise 15 levels from an 810 sqm site at 16-18 Sandford Street, occupying a prominent bend of the Brisbane River with a prized northern aspect across Orleigh Park toward the Brisbane CBD.

The approved scheme will comprise 16 split-floor and six full-floor residences, continuing GRAYA's move into larger-format apartment developments targeting Brisbane's prestige owner-occupier market.

The project has been designed around the site's broad river frontage and dual-direction views, with GRAYA prioritising larger residences, privacy and outlook over apartment yield.

<img alt="Silk St Lucia" data-entity-type="file" data-entity-uuid="aa5c2349-f96c-4914-a812-1f2cd6827af8" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-26%20at%208.25.44%E2%80%AFAM.png?VersionId=WY0vEU_7vYjeRJKQHiCwFdMxu8PvFh52" />

GRAYA Co-founder and Chief Executive Officer Rob Gray said the project had been shaped around local homeowners wanting to remain in St Lucia without maintaining a traditional family home.

"St Lucia is one of those suburbs people do not want to leave," Gray said.

"They know the river, the trees, UQ, the golf course, Toowong and Indooroopilly, and that familiarity is hard to replace.

"True riverfront opportunities here are exceptionally scarce. What we have designed at Silk is a way to stay in the suburb people love, with the scale and privacy of a private home and far less to maintain.

"This is not typical apartment product. It is a proper home on the river, and that is exactly what this market has been missing."

The approval comes as new apartment development continues to increase across the St Lucia and neighbouring Toowong corridor, although direct riverfront sites remain considerably more tightly held.

GRAYA Co-founder and Managing Director Andrew Gray said securing the approval had removed a significant element of development risk from Silk.

"Genuine riverfront sites of this quality in St Lucia are not something that comes up regularly," Gray said.

"The approval removes a substantial layer of execution risk, and the location underwrites demand in a way very few inner-city sites can.

"The fundamentals here are as strong as anything we have assessed in Brisbane."

<img alt="Silk St Lucia" data-entity-type="file" data-entity-uuid="d0f3d734-65e1-48e8-8ed3-2e0715ffcdd9" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-26%20at%208.25.56%E2%80%AFAM.png?VersionId=sOLSs_jdHkXLWbBKzRyayf5BfTb2vPsD" />

Silk will see GRAYA return to a stretch of the Brisbane River where it already has recent construction experience. The vertically integrated group recently completed ARC in neighbouring Toowong as builder for developer Spyre, delivering the riverfront project on a constrained site.

GRAYA will take a different role at Silk, controlling the project from design and development through construction and aftercare under its vertically integrated model.

The development will include a gym and resident leisure areas at ground level, integrated with the river's edge.

Silk joins a growing pipeline for GRAYA across Brisbane and the Gold Coast, which includes Enclave, The Gallery, Coral and Ripple.

The developer-builder has also recently lodged plans for its largest project to date, <a href="https://www.apartments.com.au/new-apartments/the-silo-19-chester-street-newstead-qld-4006">The Silo</a>, a proposed <a href="https://www.apartments.com.au/news/qld/graya-buys-frasers-newstead-site-plans-the-silo-between-james-street-and-gasworks-precincts">$700 million mixed-use development</a> in Brisbane's James Street precinct.

Silk is expected to predominantly target local owner-occupiers and prestige buyers seeking a permanent riverfront home in Brisbane's inner west.

Registrations of interest are now open, with further details on the project and construction program to be released as it progresses.

<hr />
<h2>SILK PROJECT FACTS</h2>

Developer-builder: GRAYA

Project: Silk

Location: 16-18 Sandford Street, St Lucia

Apartments: 22

Built form: 15 levels

Site: 810 sqm riverfront holding

Mix: 16 split-floor and six full-floor residences

Status: Development approved

Next step: Construction planning underway

[smartcode_project_cta:default project_id=152168]

GRAYA greenlit for riverfront St Lucia apartment development, Silk

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?

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Swashbuckling West Australian property developer Warren Anderson has been bankrupted.
His fortune – estimated at $190 million by BRW in 1989 – had been amassed over 20 years spent consolidating supermarket sites for Coles and speculative office market construction.
He invested his profits into his passion for trophy properties filled with the finest of antiques. He was also passionate about animal welfare and preservation.
“You don't get a feed in the bush by making a lot of noise as you go through," Anderson once said of his predilection for privacy.
But when Anderson had issues with bankers knocking on his front door after the 1990s property downturn, the tycoon famously fought to maintain his Elizabeth Bay residency, the Spanish Mission-style trophy home Boomerang, on the front page of the Sydney Morning Herald.
Boomerang had been repossessed by the Bank of New York in 1993 but Mr Anderson's security guards briefly took over the property before the bank regained possession after a $56 million demand notice.
Boomerang was then auctioned after a last-minute court challenge failed to stop the mortgagee sale.
The Bank of New York also started proceedings over another Anderson property, the historic Fernhill mansion at Mulgoa in Sydney's outer west, but Anderson managed to maintain its ownership.
Anderson, whose developments include about 70 shopping centres, six office towers and Northern Territory's parliament house, was almost brought to his financial knees by the Rothwells-Westralia Square fiasco.
Builder Warren Sizer was the petitioning creditor at the June 21 sequestration hearing with Mark Conlan appointed his insolvency trustee.
Sizer launched proceedings over unpaid bills for work on a half-finished Johnston Street, Peppermint Grove project.
Anderson has put the bankruptcy down to losing control of his finances after receivers took over all the family trust assets following a messy public divorce.
Receivers Korda-Mentha have now placed Fernhill, his $50 million plus place of residence, for sale through Colliers. The antique contents were auctioned last year.
During the early proceedings with Sizer, he showed unusual signs of weariness towards the ongoing court battles and lawyers' fees.
"If you don't have money, you don't get justice because the lawyers absolutely devastate you with fees," he suggested.
Now he concedes: “The whole bloody shooting match is up in the air and beyond my control.”
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jchancellor-FAypfDUnLy

WA property tycoon Warren Anderson bankrupted

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The renter-investor market looks to set to nearly double in size over the next two years, according to a survey of first-time investors carried out by Mortgage Choice.
Out of 1,060 respondents who plan to buy their first investment property over the next two years, 19% will be making their first home purchase.
Earlier this year, Terry Burke, professor of housing studies at Swinburne University, estimated 11% of all residential properties are purchased by people who rent their own homes.
The renter-investor market is strongest in Sydney, where 29% of respondents say buying an investment property will be their first home purchase, followed closely by Queensland’s Sunshine Coast (28%) and Melbourne (25%).
Investors are evenly split as to where they plan to buy their first property, with Queensland (22%), followed by Victoria (20%), South Australia (18.4%), NSW (18%) and WA (18%).
While the majority of investors plan to buy in the metropolitan region or state they live in, more than one in 10 (12.5%) Victorian investors plan to buy their first property in Queensland and a third of Northern Territory investors also favour the Sunshine state over their own backyard.
Mortgage Choice spokesperson Kristy Sheppard says the survey revealed that first-time property investors are “logical, well-planned, long-term thinkers who were determined, careful researchers and aware of their limitations”.
“This maybe why so many are buying for investment purposes before becoming a home owner,” she says.
According to Mortgage Choice, 84% of first-time investors already knew how much of an interest rate buffer they were going to factor into their repayment budget, and only 2% are not putting in a buffer.
Furthermore, 47% are looking to hold onto the property for 10 years or longer and 43% are looking at five to 10 years.”
Smartline Personal Mortgage Advisors has also noted a growing number of renter-investors, driven by a desire to live nearer to suburbs that suit their lifestyle and nearer to their workplaces.
Managing director Chris Acret says there are also financial incentives: if properties are held for longer, investors can draw on the equity to fund a home or additional investment properties and avoid paying selling costs and capital gains tax.
“There are also a range of options available to minimise cashflow shortfalls when owning an investment property, such as making interest-only payments, maintaining depreciation schedules, conducting regular rent reviews, and having tax adjustments paid back to you monthly,” he says.
Other key results from the Mortgage Choice survey are:
<ul>
<li>44% of first-time investors are not concerned by falling property prices and 40% are only a little bothered</li>
<li>23% will purchase alone, 69% will buy with a partner and 5% will buy with friends</li>
<li>The most common finance strategy is borrowing while using equity in their home as security</li>
<li>31% will use a mortgage broker for the purchase and 48% might use a broker</li>
<li>69% will make, or are already making, lifestyle sacrifices in order to buy</li>
<li>Favourite property type is a small house of one to three bedrooms</li>
<li>Top two property features were tenant demand in the area and right suburb and street.</li>
</ul>
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lschlesinger-FZcF9M3vE6

Renter-investor numbers rise to one in five: survey

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The property development industry’s pursuit of sustainable development practices is years ahead of other industries, yet this has not been rewarded with any government compensation scheme for the carbon tax, the Urban Development Institute of Australia says.
“New home buyers who make a concerted effort to embrace sustainability, such as the purchasing of energy-efficient homes, should not be subject to the effects of a carbon tax,” UDIA national president Peter Sherrie says.
“The carbon tax should not increase the price of energy-efficient new homes, whilst energy-inefficient existing homes remain unaffected.
“New homebuyers should be compensated for the increased costs of new housing resulting from a carbon tax, by a compensation scheme that extends beyond the realm of carbon emissions and rewards sustainable behaviours and practices as a whole.
“The development industry has played a major role in achieving higher levels of environmental sustainability beyond compliance in recent years through nationally recognised sustainability benchmark rating systems,” Mr Sherrie says.
The government has forgotten about home buyers, according to the Real Estate Institute of Australia (REIA) in its response to the announcement of a new carbon tax.
“The cost of construction of new housing is expected to increase by around $5000 on a new home, according to initial estimates, which can be expected to flow on to the price of existing homes,” says REIA acting president, Pamela Bennett.
“The cost of undertaking renovations for existing homeowners will also increase, with the average kitchen and bathroom renovation to increase by around 2%,” Ms Bennett says.
“When the GST was introduced in July 2000, first home buyers were compensated with the introduction of the first home owner grant.
“Similar compensation to offset the impact on increased costs of building would have been appropriate.”
The government’s proposed carbon tax will hurt homebuyers and small business without any upside for the construction industry, according to Master Builders Australia.
“There is nothing in it for homeowners, small business and the building industry,” says Wilhelm Harnisch, Master Builders Australia chief.
Based on recent independent modelling, the carbon tax is calculated to reduce total building and construction industry output by about 2.5% or $5 billion per annum.
“It is a cascading tax that will flow through the supply chain, adding cost at each point that will hit home buyers and small business,” Mr Harnisch says.
“Renters will also be caught in due course.”</body></html>

Carbon-conscious homebuyers should be spared tax: industry bodies

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Waimea House, a Federation Arts and Crafts style residence in Tasmania’s second-priciest suburb, Sandy Bay, has sold for a record $6.06 million.
It has been bought by Sydney property developer Piers Dawson-Damer and his wife Kim.
The couple had moved to Tasmania after selling their Rose Bay, Sydney home to entrepreneur Frank Tagg, the former Western Suburbs first grade footballer who made his money from McDonald's franchises and more recently from his part-ownership of stallion prospect Haradasun.
Waimea was sold by prominent Hobart family, the Nettlefolds, who then sold $1 million-plus of its contents through Mossgreen Auctions.
The Nettlefolds had consolidated the four-block amalgamation over the past 70 years.
The late Len Nettelfold, a successful businessman and Australian amateur golf champion, was the son of Tasmanian Motors founder Robert Nettlefold. The family had the General Motors dealership on the island, which was subject to a 1982 takeover bid by then young entrepreneur Christopher Skase, who made a reputed $1.5 million plus from his brief foray.
The Sandy Bay property was marketed as Hobart's most prestigious and distinguished residential estate by Brian Watchorn of Charlotte Peterswald for Property.
“This landmark property occupies the finest position in Hobart with stunning harbour views, complete privacy and surrounding land with an overall area of 9,726 square metres or thereabouts,” the brochure says.
There is a pool, tennis court, and a smaller second residence with Art Deco influences.
It is believed the highest previous sale was $3.1 million for a Sandy Bay waterfront in 2007.
The median price in 2010 was $665,000 according to the Real Estate Institute of Tasmania from 144 house sales, compared with Battery Point’s $890,000 median from 20 sales.
Tasmania's Bishopscourt on the Sandy Bay hillside was sold in 2004 for about $1.5 million to Melbourne businessman Herman Rockefeller, who was later murdered.
Piers Dawson-Damer’s father was motoring enthusiast and one-time Australian rally championship navigator John Dawson-Damer, who died in a racing accident in England in 2002. His mother Ashley is one of Sydney's most popular social figures.
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Waimea House sale for $6.06 million eclipses Tasmanian record

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<img src="/images/stories/flagtitletat.jpg">Australia’s headline sale during the past financial year was $53 million on Wolseley Road in Point Piper. Villa Veneto, a five-storey Italianate Palladian villa, was sold by recruitment entrepreneur Andrew Banks and his wife Andrea for $53 million through LJ Hooker Double Bay agent Bill Malouf (below).
<img src="/images/stories/bill-malouf-cropped.jpg">
Following the sale he was dubbed the undisputed king of Sydney real estate by the Daily Telegraph, which reported he had made $298 million in sales over the past year. The August exchange, reported in September, was with dentist David Penn and his wife Linda. They settled on Valentine's Day following the payment of the second installment of $44 million to finalise the deal.
Designed by the architect Michael Suttor, the six-bedroom house sits on a 1426-square-metre block, set over five levels. Finished in 2004, it took more than two years to build and possibly $10 million to complete. Although they have taken nearby rental accommodation, Banks spends much of his time working in Hong Kong. Shareholders in his recruitment company Talent2 were advised by the chairman, Ken Allen, that Banks would spend considerable time in Asia working with Hong Kong-based non-executive director Ken Borda.
Banks recently spent $4.8 million on a central Mid-Levels district apartment representing about $26,000 a square metre. The 32nd-floor apartment on Hong Kong Island last sold in 1992 for $1.08 million, reflecting 8.4% annual growth. It first sold on completion in 1991 for $760,000, representing 10% annual growth. Villa Veneto was built after the couple bought the 1424sqm holding for $14 million in 2001, when they gave their address as Trump Tower, New York.
The moving vans came in February, when there was no doubt plenty of Louis Vuitton luggage heading into the imposing mansion – David Penn's passion for vintage luggage is evident at his Double Bay showroom.
The other prestige Point Piper listing, Altona, remains listed for sale through Ballard Property agent Bill Bridges and Bill Malouf and their executive assistants, Meagan Cotten and Emma Prgomelja, with whispers of $50 million-plus interest.
<img src="/images/stories/flagtitletat.jpg" style="outline-style: none; outline-width: initial; outline-color: initial; padding: 2px; border: 0px initial initial;">Title Tattle aims to tell you as soon as we know – often before it happens – so that rumoured prestige sale in Perth has now been confirmed at $13.25 million in the suburb of Applecross. Its Perth’s dearest sale for about two years. The sale betters the suburb’s $11.75 million record, set in 2008, through repeat record-setting agent William Porteous, who wouldn’t reveal its buyer. But Title Tattle now gleans it’s big home builder Ross North and his wife, Catherine, whose nearby house has been listed through Banovich &amp; Hillman.
 
<img src="/images/stories/flagtitletat.jpg" style="outline-style: none; outline-width: initial; outline-color: initial; padding: 2px; border: 0px initial initial;">With pedigree in almost every petal, Kennerton Green (below) ranks among the country's finest garden properties, and it sold recently through Bowral agent Drew Lindsay to Sydney businessman Matthew Csidei and his wife, Lauren Roscoe, for about $1.8 million.
<img src="/images/stories/kennerton3-cropped.jpg">
The magnificent 2.2-hectare Mittagong property, which is Australia's only 20th-century listing in The Oxford Companion to the Garden, was listed for sale by the Ireland family. It comes with a four-bedroom, four-bathroom residence but it's the gardens, which date back more than 100 years, that steal the show. Its past owners include international gardener Marylyn Abbott, of West Green House in Hampshire – an 18th-century English property she rescued. Before her were Lady Susan Renouf, who bought it for $690,000 in 1986 from Lady Marjorie Pagan – the widow of the late Sir John Pagan, whose famous guests left plaques to commemorate their visits. A copper beech in the front yard was planted by Princess Margaret, a catalpa by Dame Pattie Menzies and a maple by Margaret Thatcher.  
<img src="/images/stories/kennerton2-cropped.jpg">
The neighbouring garden property with pavilion (above) remains listed through Lindsay.
 
 <img src="/images/stories/flagtitletat.jpg" style="outline-style: none; outline-width: initial; outline-color: initial; padding: 2px; border: 0px initial initial;">Sahba and Soheil Abedian's Sunland Group take the cake for the culmination of three woeful Sydney acquistions which have all ended in tears, and little shareholder joy. 2010 kicked off when they sold its 107-hectare Tahmoor property, best remembered as the Jay-R Stud, for $4.5 million having been bought from Ross Cribb, former NSW TAB chairman and TNT general manager, for $14.5 million in 2004. Then its luxury Birchgrove apartment complex (below) finally sold out.
<img src="/images/stories/birchgrove-cropped.jpg">
It was 2008 when songstress Kate Ceberano entertained guests at the launch of the six luxury Louisa Road units, which were priced from $6.25 million to $10.8 million. The initial asking prices totalled $48 million, and when the final unit sold last September they had recouped $26.3 million in sales, having paid $13.7 million for the land in 2004. Sunland’s pitiful year was topped off most recently when it sold its Cronulla beachfront residential development to the Mondell development group for $10.2 million. The site had cost $13.4 million to amalgamate between 2007 and 2008.
 
 <img src="/images/stories/flagtitletat.jpg" style="outline-style: none; outline-width: initial; outline-color: initial; padding: 2px; border: 0px initial initial;">It’s perhaps the highest price drop recorded in the recent downturn in Sydney’s eastern suburbs, reflecting a 32% price deterioration over the past three years. It was June 2008 when stockbroker Walter Lewin spent $7.5 million in Double Bay. It was bought from Clare Mulham, the daughter of savvy entrepreneurs Bill and Imelda Roche.
<img src="/images/stories/transvaal-cropped.jpg">
The four-bedroom, four-bathroom Transvaal Avenue residence (above) has been resold for $5.1 million to the Li family.
 
<img src="/images/stories/flagtitletat.jpg" style="outline-style: none; outline-width: initial; outline-color: initial; padding: 2px; border: 0px initial initial;">Queensland’s highest sale price was $10.3 million for the award-winning "H House" at Hamilton, designed by Brian Donovan of Donovan Hill. It’s a real riverfront knockout home. Built for developer Steve Tyson and his wife Karen it won the Royal Australian Institute of Architects National Award for Residential Architecture. It was initially listed for sale in late 2009.
 
<img src="/images/stories/flagtitletat.jpg" style="outline-style: none; outline-width: initial; outline-color: initial; padding: 2px; border: 0px initial initial;">Retired Myer executive chairman Bill Wavish and his wife Yvonne doubled the size of their Kurraba Point, Neutral Bay holding, spending just $8.3 million. The couple had bought the other half of the dual harbourfront townhouse project for $12 million in 2007. The development was undertaken Adam Tolhurst and the longtime Sydney Flying Squadron director Sam Jackson who kept his contemporary townhouse until its recent sale. The development cost $6 million in 2004 when bought from Garry Rothwell's Winten Property Group. Winten had paid $5.1 million in 2000 when the vacant 530-square-metre block was bought from retired solicitor Morgan Ryan. Jackson had wanted $10 million. The unit has been listed for $4500 a week rental.
 
<img src="/images/stories/flagtitletat.jpg" style="outline-style: none; outline-width: initial; outline-color: initial; padding: 2px; border: 0px initial initial;">The Hemmes hotelier clan did well with their $12.6 million purchase of Kianga (below), a five-bedroom Federation house in Vaucluse on the hillside overlooking Sydney Harbour.
<img src="/images/stories/kianga-cropped.jpg">
More than $15 million had been sought for Kianga, which had previously sold in 1989 for $6.2 million, thereby reflecting 3.5 per cent annual growth during the 21 years of Linz ownership. It was freight tycoon-turned-art collector Pat Corrigan who secured the sale just before the early-1990s downturn, scoring an impressive 30% annual growth during his eight-year tenure. The 21-room Kianga was known as Ormond Hall when it traded as Sydney's finest private hotel after being opened in the early 1950s by the Allen family.
 
<img src="/images/stories/flagtitletat.jpg" style="outline-style: none; outline-width: initial; outline-color: initial; padding: 2px; border: 0px initial initial;">The Cowley family took a hit as they exited Mosman to put all their energies into their Hunter Valley vineyard venture. They bought in early 2008 at $5.5 million and sold recently for $4.41 million to the Gale family.
 
<img src="/images/stories/flagtitletat.jpg" style="outline-style: none; outline-width: initial; outline-color: initial; padding: 2px; border: 0px initial initial;">All eyes turned to the Ginahgulla Road, Bellevue Hill hillside following news that businessman Michael Darling had spent $14 million on a luxury condominium site at North Bondi. But his current trophy home isn’t likely to hit the market for some years yet. The oceanfront Ramsgate Avenue redevelopment project, to be undertaken by his son-in-law, architect Nick Tobias, will surely take until almost 2013 for completion. The chairman of Caledonia Investments and his wife, Manuela Darling-Gansser, have resided in colonial Georgian revival grandeur since paying $8.24 million in 1991, when the property was bought from merchant banker James Yonge through Double Bay agent Jane Ashton. It had been built in 1935 to a Hardy Wilson design for Jean Flynn, the grand-niece of George Adams, the Tattersall’s Sweepstake founder. The couple’s North Bondi acquisition was bought from retired IT entrepreneur Neill Miller through Raine &amp; Horne agents Martin Maskin and Mary Anne Cronin. Set on the rock shelf known as Mermaid Rocks, the building now comprises 10 apartments that Miller consolidated at a cost of $14 million between 2006 and 2008.
 
 <img src="/images/stories/flagtitletat.jpg" style="outline-style: none; outline-width: initial; outline-color: initial; padding: 2px; border: 0px initial initial;">Prestige sales have been thin in the Southern Highlands, although retired Compaq executive Ian Penman and his wife, Ayesha, finally sold their Sutton Forest holding, The Chase. The restored and extended five-bedroom 1880s house, which sits on 40 hectares, sold through Bill Carpenter from W. Mcl Carpenter &amp; Associates at Bowral. Its sale price has not been revealed, although the recent marketing indicated the $7 million expectations sought in October 2010 were not being pursued. It had been listed in 2007 with double-digit million hopes and local agents considered a $6 million selling target more achievable, given there had been just three sales at $5 million or higher across NSW’s Highlands since mid-2008. Former AMA boss Bruce Shepherd and his wife Jenny are the latest to try their luck, listing Dalway (below) with $7.3 million hopes through Drew Lindsay Real Estate, and Richardson &amp; Wrench Bowral agent Michael Maloney.
<img src="/images/stories/dalway-cropped.jpg">
The orthopedic surgeon and moleskin millionaire has been a long-time devotee of the highlands lifestyle, so Title Tattle imagines the couple are downsizing.
 
<img src="/images/stories/flagtitletat.jpg" style="outline-style: none; outline-width: initial; outline-color: initial; padding: 2px; border: 0px initial initial;">And don’t say Title Tattle told you, but there’s whispers a Hobart house has been sold for a record $6.06 million. Finally the Apple Isle gets the high-priced mainland disease.
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The Banks buy in Hong Kong after $53 million Point Piper sale: Title Tattle

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Property listings remain some 25% higher within Australia’s capital cities than last year, and 29% higher across the country, according to RP Data.
The 50,854 new house and unit listings over the past month take the total for sale across Australia to 279,605. There were 217,442 listings across Australia this time last year.
“Less than 48% of total listings nationally are within the capital cities,” RP Data research director Tim Lawless said earlier this month.
New listings saw 50,854 properties added over the past month, with the capital city new listing volumes 2.8% higher than the same period last year.
As the winter hibernation sets in the number of new properties advertised for sale increased by 1.8% across the country in the last four weeks, compared to the previous four weeks ending 26 June 2011.
Queensland has the highest number of total listings at 86,188, followed by 73,673 in NSW.
The number of new properties advertised for rent has fallen by 2.7% over the past four weeks.
Capital city new rental listings fell by 3.1%.
Despite the fall, new rental listings nationally are 14.3% higher than the same time last year, and in the combined capital cities they are 11.9% higher.
Rental listings remain at much higher levels than the same time last year, up 12.8% nationally and 10.7% in the capital cities, Lawless said.
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Huge jump in property listings, with Queensland taking the lead 

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The rise of the Australian dollar, and increasing house prices mean Australia now has four of the world's 15 most expensive cities to live in, according to a global living cost survey released by the Economist Intelligence Unit.
Sydney has jumped from 32nd place just two years ago to sixth spot on the list, with Melbourne up from 38th to seventh, with overall living costs some 40% higher than New York.
Perth and Brisbane, which are almost 25% more expensive than New York, are ranked 13th and 14th.
Tokyo, Oslo and Osaka take the top three places overall while Mumbai, Tunis and Karachi are the three cheapest. All four Australian cities are now costlier than London, Rome, Berlin, Hong Kong and Beijing.
The Australian cities' rankings have rocketed sharply over the past decade as Sydney ranked 71st most expensive in 2001 with Melbourne 80th, Perth 91st and Brisbane at 93rd.
Survey author Jon Copestake says the strength of Australia's dollar was partly to blame for soaring living costs.
During the decade the Australian dollar has climbed by about 120% against the US dollar, having bottomed out at US48.4c in 2001.
The Economist's survey compares the cost of living by sampling prices of more than 400 items including food, health, housing, education and transport from 133 cities across the world.
“A fair part of it relates to house prices,” chief Nomura economist Stephen Roberts says, noting the fixed 30-year mortgage rate in the US is about 4.7% compared with 7.8% in Australia.
Melbourne ranked among the most expensive for a daily business trip at $A712 a day – made up of one night's hotel accommodation, two meals, two taxi trips, a daily newspaper and a drink at a bar. Sydney came in at about $588.
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Aussie cities skyrocket on list of world’s most expensive places to live

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Investors casting their eye over Adelaide should hold off for at least another 12 months, according to CBRE’s assessment of the South Australian market.
Sam Reilly, CBRE’s global research and consulting manager, says the short-term forecast remains subdued due to a “lower than national average population growth and declining activity in the construction sector”.
Despite the poor outlook over the next six to 12 months, some parts of the Adelaide market have shown signs of growth at a time when the rental vacancy rate is 0.9% - the lowest in the country.
In comparison, the Sydney vacancy rate is 1.4% and it is 1.7% in Canberra.
According to Melissa Gow, CBRE’s director of valuation and advisory services, South Australia’s temporary position on the wrong side of the two-speed national economy is being mirrored in its residential market which is in a phase of cyclical contraction, with interest rate movements likely to determine capital value trends over the next 12 months.
However, Gow says a prolonged period of low vacancy could result in renewed interest from investors as upward pressure is placed on rents.
More positive long-term forecasts for the South Australian residential market are being driven by the “ripple effect” of substantial resource projects once they begin production.
“Noteworthy projects such as the expansion of Olympic Dam are expected to have a flow-on effect on employment and infrastructure spending in the state,” says Reilly.
The heritage suburb of Maylands, 4 kilometres north-east of the Adelaide CBD, has outperformed every other Adelaide suburb to record annual capital growth of 14.1% and a median price of $708,000.
More affordable suburbs that have also recorded impressive capital growth of 12.8% and 12.3% respectively are West Croydon and Virginia, with median house prices under $480,000.
The western suburb of Findon has the strongest units market in Adelaide, posting capital growth of 16.6% and a median value of $311,000, followed by St Mary’s, a suburb just south of the CBD, where prices have risen 14.7% over the last 12 months to a median value of $239,000.
While there have been reasonable price gains across all price brackets, the cheapest quartile experienced the biggest decline in house prices – most notably, the outer northern suburbs of Elizabeth Downs and Elizabeth North where median prices decline 5.7% and 4.7% respectively.
The tightest vacancy rates are in Adelaide North (0.49%), the residential zone situated north of the River Torrens and within the Adelaide Park Lands, followed by the CBD and inner-north suburbs (0.79%).
The withdrawal of the booted first home owner grant has contributed to drop in demand for houses under $500,000.
Limited price growth is expected for properties priced between $500,000 and $1 million due to affordability and interest rate sensitivities in the price range.
Homes above $1 million are undergoing a more significant price correction with lower demand and longer selling periods.
In the prestige market above $2 million there has been a general slow-down in buying activity. According to CBRE, homes in this price range need to be reasonably priced to attract buyer interest.
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Adelaide investor prospects subdued for now

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<img src="/images/stories/brighton2-cropped.jpg">
Australian commercial property investors are being targeted as potential buyers of a historic piece of British Victorian architecture.
The 524-metre, grade 2-listed pier, which juts out from Brighton beach, is being marketed by Ben Allen and Richard Baldwin from GVA Humberts Leisure on behalf of the Noble Group, which has owned the pier since 1984.
Brighton Pier has featured in films, television programs and documentaries dating back to 1896 with the likes of Grace Kelly, Bette Davis and Greta Garbo all appearing in scenes set on the landmark. A Midsomer Murders episode, "The Sword of Guillaume", was filmed on Brighton Pier with the House of Horror used as the murder scene.
The asking price is undisclosed but the Noble Group will be looking to recoup the £35 million it has invested in the heritage building, which was formerly known as the Palace Pier.
A spokesperson for GVA Humberts Leisure told Property Observer there had been international interest in the pier including from the USA, Russia and Kuwait, and would not rule out interest from Australia.
An advertising campaign is running in The Australian.
Investors will be able to take advantage of a favourable Australian dollar/UK sterling exchange rate with $1 now buying 67 pence.
According to a report by Investment Property Databank, values of UK commercial real estate rose in 2010 for the first time in four years. Values rose 6.9% compared with a drop of 5.6% in 2009. Australian investors have kept clear of the UK commercial market in recent times.
According to Rosey McGrath, UK marketing and communications manager at CB Richard Ellis, its research showed that Australian investors were not registering as significant purchasers in the current UK market.
“The last major Australian acquisition from memory was the Australian Future Fund – purchasing a 17.2% stake in Gatwick Airport in December 2010 and in the Bullring Shopping Centre in Birmingham in September 2009,” she says.
The current pier was built by the Marine Palace &amp; Pier Company in 1899 at a cost of £137,000 on the site of an earlier Old Chain Pier, dating back to 1823.
It was designed by R St George Moore, an engineer from London, as an amusement and pleasure emporium complete with filigree arches and kiosks. It was the third pier to be built in Brighton.
Facilities on the pier include 18 themed attractions and rides, two modern amusement arcades, together with retail and entertainment outlets, Horatio's and Victoria's Bars and the recently refurbished Palm Court restaurant.
According to GVA Humberts the pier is ranked alongside Brighton’s pavilion as one of the city’s most important assets, and has served as the catalyst to the resurgence of Brighton’s seafront. At peak season, the pier’s businesses employ more than 300 people.
David Biesterfield, Noble Group’s development director, says: “Over eight million visitors come to Brighton annually and its status as ‘London by the Sea’, the resurgence of British tourism and the forthcoming Olympics represent an exciting opportunity for further increasing the number of visitors to the pier.
"We anticipate a great deal of interest in the sale of this world-renowned asset.”
A train ride from London to Brighton takes under an hour.
The sale of the pier is part of a sale of the entire issued share capital of the Brighton Marine Palace &amp; Pier Company, which was established by Act of Parliament in 1888, to develop and operate the pier.
The Noble Group, based in Tyneside in the north-east of England, is one of the UK’s largest amusement arcade operators.
It also owns a wide-ranging commercial property portfolio and has a variety of other business interests.
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Aussie investors sought for historic Brighton Pier

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<img src="/images/stories/merton5-cropped.jpg" style="outline-style: none; outline-width: initial; outline-color: initial; padding: 2px; border: 0px initial initial;">
A three-storey Victorian terrace at 79 Merton Street, Albert Park, goes to weekend auction through Michael Coen at Hocking Stuart.
The four-bedroom Merton Street house on 178 square metres was given a price estimate between $2,750,000 to $3 million in the lead-up to its auction.
Guy Angwin from James Buyer Advocates notes its transformation has been extensive, to become a large, light-filled contemporary family home with many extras.
“The ground floor offers you a practical floor plan with the kitchen and family room linking to a rear paved courtyard.
“Families with children will find the extra dining/living rooms at the front of the property a bonus.
“This gives parents an opportunity to entertain with some privacy – away from children as they play in the family room.
“Upstairs all the bedrooms are of a good size, some having access to excellent balconies with views over the city.”
But Angwin suggests an opportunity may have been missed, with the large main bedroom not having an ensuite.
The property is well located and within easy walking distance of shopping, restaurants and public transport.
James Buyer Advocates gives it a 639 rating out of 1000.
“Whilst this property ticks most of the boxes; it's lack of off-street car parking may limit it's appeal,” Mr Angwin says.
<a href="https://www.james.net.au/rating/79-Merton-Street-ALBERT_PARK">https://www.james.net.au/rating/79-Merton-Street-ALBERT_PARK</a>
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