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

Joel Robinson

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

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

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

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

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

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

Abadeen, PERIFA, top out Putney Wharf harbourfront precinct

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

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

Sydney’s property market is known for high prices, competitive bidding, and mounting pressure on first home buyers. But change is on the horizon.

From late 2025, eligible first home buyers in New South Wales will have access to a new federal government initiative aimed at addressing affordability: the Help to Buy Scheme.&nbsp;

<h2>What is the Help to Buy Scheme?</h2>

The program introduces a shared equity model intended to reduce the upfront cost of entering the property market, particularly in high-demand urban areas such as Sydney.

The scheme operates under a shared ownership structure in which the federal government takes an equity stake of up to 40 per cent for new homes, or 30 per cent for existing dwellings. This arrangement allows eligible buyers to significantly reduce their loan size and avoid the added cost of Lenders Mortgage Insurance (LMI).

Under this model, purchasers can enter the property market with as little as a two per cent deposit, well below the traditional 10 to 20 per cent usually required. The government’s contribution is not a loan but a co-ownership stake in the property. As such, there is no interest or rent charged on its portion.

Because the government’s equity combined with the buyer’s deposit typically meets or exceeds the 20 per cent threshold, LMI does not apply. The remaining balance, generally between 60 and 70 per cent of the property’s value, is financed through a standard home loan with a participating lender.

The government's equity in the property remains in place until the buyer chooses to repay it voluntarily or until the property is sold. Buyers can buy back the government’s share over time, in increments of at least five per cent, depending on their financial situation.

There is no fixed repayment timeline, but the amount to be repaid will be based on the property's market value at the time of repayment, not the original purchase price.

<h2>How do you qualify for the&nbsp;Help to Buy Scheme?</h2>

To qualify for the Help to Buy Scheme, applicants must meet the following conditions:

<ul>
	<li>Be an Australian citizen at least 18 years of age.</li>
	<li>Be a first-home buyer who does not currently own property.</li>
	<li>Intend to live in the property as their primary residence.</li>
	<li>Earn less than $100,000 per year for individuals, or $160,000 for couples.</li>
	<li>Purchase a property within the regional price caps, currently $950,000 in Sydney, though this is expected to rise to approximately $1.3 million ahead of the program’s launch.</li>
</ul>

While the Help to Buy Scheme does not solve affordability challenges across the board, it does offer a more accessible pathway for a defined segment of the market, particularly younger buyers with moderate incomes who have been priced out of traditional lending routes.

The scheme is expected to commence in NSW in late 2025, as part of a national rollout.

Under the new model, purchasers can enter the property market with as little as a two per cent deposit, well below the traditional 10 to 20 per cent usually required

Help to Buy Scheme: What first home buyers in NSW need to know

The First Home Owners Grant (FHOG) is a government initiative designed to help eligible first-time home buyers by offering financial assistance towards the purchase or construction of a new home.

While the FHOG is a nationwide program, it is administered separately by each state and territory, meaning the eligibility criteria, grant amounts, and property requirements can vary depending on your location. This means that the amount available and the conditions attached to the grant will differ, so it is important to check the specific guidelines for your state or territory.

It’s important to note that the FHOG is just one of several incentives available to first home buyers. In most states and territories, the grant is not linked to stamp duty exemptions or concessions, with the exception of the Australian Capital Territory (ACT). The FHOG is typically a one-off payment, reducing the overall cost of purchasing or building a new home before any stamp duty concessions are applied.

Below, we provide a breakdown of the First Home Owner Grants available across Australia, outlining the specific details for each state and territory.

<h2>New South Wales First Home Owner Grant</h2>

First Home Owner Grant: Offers a $10,000 grant for new homes valued up to $600,000. For land purchases and owner-builders, the threshold extends to $750,000.

Stamp Duty Benefits: Provides full stamp duty exemption for homes valued up to $800,000, with concessions available for properties up to $1 million.

<h2>Victoria South Wales First Home Owner Grant</h2>

First Home Owner Grant: Provides a $10,000 grant for first-home buyers purchasing or building new homes valued up to $750,000.

Stamp Duty Benefits: Offers full stamp duty exemption for properties up to $600,000, with concessions available up to $750,000.

<h2>Queensland First Home Owner Grant</h2>

First Home Owner Grant: Offers $30,000 for contracts signed between 20 November 2023 and 30 June 2025. The FHOG applies to new homes valued up to $750,000.

Stamp Duty Concessions: Provides additional concessions for properties valued up to $800,000.

<h2>Western Australia First Home Owner Grant</h2>

&nbsp;

First Home Owner Grant: Offers a $10,000 grant for new homes valued up to $750,000 in the southern regions and up to $1 million in the northern regions.

Stamp Duty Concessions: Available for homes valued up to $600,000 for transactions entered into on or after 9 May 2024.

<h2>Australian Capital Territory First Home Owner Grant</h2>

First Home Owner Grant: Replaced by the Home Buyer Concession Scheme, offering full stamp duty concessions for eligible buyers.

<h2>South Australia First Home Owner Grant</h2>

First Home Owner Grant: Provides up to $15,000 for new homes, including houses, apartments, and townhouses. As of 6 June 2024, there is no property value cap for eligibility.

Stamp Duty Relief: Available for new homes and vacant land purchases.

<h2>Tasmania First Home Owner Grant</h2>

First Home Owner Grant: Offers a $10,000 grant for new homes and off the plan purchases.

Stamp Duty Exemption: Between 18 February 2024 and 30 June 2026, first home buyers of established homes valued up to $750,000 receive a full exemption on property transfer duty.

<h2>Northern Territory First Home Owner Grant</h2>

First Home Owner Grant: The Northern Territory provides a $10,000 grant for new homes only. Additional government grants and concessions are available for first home buyers.

Stamp Duty Exemption: The only stamp duty exemption available to property buyers is the House and Land Package Exemption (HLPE).

Eligibility criteria and application processes differ across states. Prospective buyers should refer to their respective state revenue offices for full details on grant availability, conditions, and additional concessions.

Every First Home Owner Grant for new property by state

In the ever-evolving landscape of sustainable architecture and environmentally conscious design, systems and ratings in place can help determine the energy efficiency of residential buildings in Australia.

Australia has multiple building rating systems that evaluate energy efficiency and sustainability in existing and new building designs.

Some systems assess individual building components, while others provide an overall rating for the entire structure.

A rating system ensures that homes are comfortable and energy-efficient, whether you are buying, renovating, or building.

NatHERS (Nationwide House Energy Rating Scheme) is a common way for new homes to meet energy efficiency requirements.

As new developments continue to shape the urban environment, understanding NatHERS ratings becomes essential for developers and homeowners. This article delves into the concept of NatHERS ratings, their significance, and how they contribute to creating energy-efficient homes.

<h2>What is NatHERS?</h2>

NatHERS is a national initiative implemented by the Australian government to promote energy efficiency in residential buildings. The scheme aims to provide a standardised method for assessing the thermal performance of homes, considering factors such as insulation, orientation, ventilation, and building materials.&nbsp;

NatHERS ratings are the most common way new homes meet the National Construction Code's (NCC's) minimum energy efficiency requirements.&nbsp;

NatHERS assessments provide thermal and whole-home ratings for new homes, townhouses, and apartments.

The rating helps evaluate the energy performance of buildings, guides homeowners and developers to make informed decisions about the energy efficiency of their properties, and encourages the construction of more sustainable, comfortable, and cost-effective homes.

<h2>How NatHERS Ratings Work</h2>

NatHERS ratings are determined through four accredited software tools (AccuRate, BERS Pro, FirstRate5, HERO) using a calculation engine CSIRO developed to predict building temperature based on various factors.

The tools can model complex effects of building mass, insulation, window size, and other elements.

The outcome is a star rating that reflects the building's overall thermal efficiency, indicating how well it can maintain a comfortable indoor temperature without excessive reliance on heating or cooling systems.

The star rating scale ranges from 0 to 10, with a 6-star rating being the minimum requirement for compliance with the National Construction Code (NCC).&nbsp;

Achieving a higher star rating demonstrates a commitment to energy efficiency and sustainability, as the building is better equipped to minimise its environmental impact and reduce long-term energy costs.

Anyone can use NatHERS tools, but accredited assessors can provide certified ratings and professional advice.

<h2>Benefits of Higher NatHERS Ratings</h2>

Energy Efficiency: Buildings with higher NatHERS ratings are more energy-efficient, requiring less heating and cooling energy. This reduces the structure's carbon footprint and lowers occupants' energy bills.

Cost Savings: Homes with higher NatHERS ratings are generally more energy-efficient, resulting in reduced energy consumption for heating and cooling. This translates to lower energy bills for homeowners, making sustainable living environmentally friendly and economically viable in the long run.

Environmental Impact: Lower energy consumption directly translates to a reduced environmental impact. Buildings with higher NatHERS ratings contribute to the overall goal of mitigating climate change by lowering greenhouse gas emissions associated with heating and cooling systems.

Improved Comfort: Buildings with high NatHERS ratings offer better thermal comfort to occupants. Proper insulation, well-designed ventilation, and optimal orientation maintain a consistent and comfortable indoor temperature, providing occupants with a more enjoyable and healthier space.

Market Value and Desirability: Higher NatHERS ratings can enhance the market value of a property. As energy efficiency becomes a more significant consideration for homebuyers, a well-rated building may attract a premium price and stand out in the real estate market.

Compliance with Building Codes: NatHERS ratings are a vital component of the National Construction Code (NCC), and compliance with these ratings is often a mandatory requirement for new developments. Local councils and planning authorities may set minimum energy efficiency standards that must be met to obtain development approval.

The Nationwide House Energy Rating Scheme (NatHERS) is a crucial initiative shaping the future of energy-efficient, resilient, and cost-effective homes. With its recent upgrades, NatHERS has evolved into a world-leading tool for the building sector, supporting the global commitment to achieving net-zero emissions by 2050.

Staff Writer

What is a NatHERS rating in new off the plan apartment developments?

Mixed-use developments have gained significant popularity across Australia in recent years due to their unique blend of residential, commercial, and recreational spaces.

Unlike traditional single-purpose developments, mixed-use projects offer a harmonious integration of various functions within a single locale.

Residential units seamlessly coexist with commercial establishments, retail outlets, dining venues, entertainment hubs, and recreational facilities, with the combination not only enhances convenience but also fosters a vibrant lifestyle and a sense of community.

<h3>Convenience and accessibility</h3>

Mixed-use developments are designed with convenience in mind. They often integrate residential units with commercial spaces, retail outlets, restaurants, and recreational facilities, creating a self-contained community.

[smartcode_project:default project_id=114215 project_image_fid=204874]

The proximity allows residents to enjoy the convenience of having essential amenities and services within walking distance. Whether it's grabbing a cup of coffee, going grocery shopping, or accessing healthcare services, everything is conveniently located, saving residents time and effort.

<h3>Vibrant lifestyle and community</h3>

One of the major advantages of mixed-use developments is the vibrant lifestyle they offer. With a diverse range of amenities and communal spaces, residents have ample opportunities to interact, socialise, and build a sense of community.

[smartcode_project:default project_id=107714 project_image_fid=214122]

The presence of parks, community centres, and shared spaces fosters a lively atmosphere, encouraging residents to engage in various activities and events. The vibrant lifestyle within these developments creates a unique sense of belonging and camaraderie among the residents.

<h3>Potential for higher rental yields and property value appreciation</h3>

Mixed-use developments tend to attract a broad range of tenants and buyers due to their versatile nature. This high demand can result in higher rental yields for investors and potentially lead to property value appreciation over time.

[smartcode_project:default project_id=139989 project_image_fid=212887]

The integration of commercial and retail spaces attracts businesses, which can provide a stable rental income stream. Additionally, the popularity of mixed-use developments often drives up property values, making them a potentially lucrative investment in the long term.

<h3>Enhanced security and maintenance</h3>

Mixed-use developments typically have comprehensive security measures in place. With controlled access points, CCTV surveillance, and professional security staff, residents can enjoy enhanced safety and peace of mind.

[smartcode_project:default project_id=108019 project_image_fid=212658]

Additionally, these developments often have dedicated maintenance teams responsible for the upkeep of common areas, landscaping, and infrastructure. This ensures that the overall appearance and functionality of the development are well-maintained, creating a pleasant living environment for residents.

<h3>Live-work-play balance</h3>

One of the key attractions of mixed-use developments is the ability to achieve a desirable live-work-play balance. The integration of residential and commercial spaces allows residents to live closer to their workplaces, reducing commuting time and improving work-life balance.

The proximity to various amenities and recreational facilities encourages an active and healthy lifestyle. Residents can easily access fitness centres, parks, restaurants, and entertainment options, all within the same development, leading to a more fulfilling and convenient way of life.

alisonwarters@gmail.com

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

When buying a property, everyone needs to be aware of the additional costs that come as part of the buying process.

Often the largest outlay, after the deposit which goes to the bank, is stamp duty.

<h2 style="line-height: 1.38;">What is Stamp Duty?</h2>

Stamp duty is an extra tax to pay the government when you buy land, a property, and other certain assets.

It happens when the legal ownership is transferred. It can also be known as property transfer duty or transfer duty.

<iframe allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture" allowfullscreen="" frameborder="0" height="415" src="https://www.youtube.com/embed/C32BWkB5--c" title="YouTube video player" width="660"></iframe>

<h2>Who pays Stamp Duty?</h2>

In some circumstances, you may get an exemption. For some states, you won’t have to pay for stamp duty if you are a first home buyer or a pensioner for houses under a particular price. There are also stamp duty concessions, where you may be entitled to a discount.

<h2>How much does Stamp Duty cost?</h2>

Each state has different rules which affect how much you need to pay. These rules can affect the rate you pay, and the timeframe you will need to pay in. Before you buy land or a property, make sure you check the up-to-date information for your state’s stamp duty.

You can use a free stamp duty calculator online to see approximately how much you’ll need to pay. Find out if you’re eligible for an exemption by enquiring on a project via Urban!

Overall, the stamp duty you need to pay will depend on:

<ul>
	<li aria-level="1">How much your land/property is worth</li>
	<li aria-level="1">Where your land/property is located</li>
	<li aria-level="1">What type of land/property it is</li>
</ul>

Want to find out more? <a href="https://www.youtube.com/@UrbanAustralia?utm_source=YouTube&amp;utm_medium=Video&amp;utm_campaign=Subscribe&amp;utm_id=Subscribe">Subscribe to our YouTube channel</a> for more property videos.

Ellen Walker

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

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Traditional investor cities of Sydney and Melbourne are being tipped to fall out of favour as Brisbane’s affordability allows it to emerge as the new city to invest in, according to Place Advisory.
In Brisbane, the median apartment price sits at $383,000, with Place Advisory director, Lachlan Walker, placing this at 26% below Melbourne’s $481,000, and 45% cheaper than Sydney’s $557,000.
“In Brisbane one-bedroom apartments, situated just one kilometre from the CBD, are available from $339,000 and they max out at around $500,000 for premium stock, while in Sydney the same type of apartment would start at around $500,000,” said Walker.
“A median price disparity of this magnitude has not been seen between these cities since 2004.”
Houses are seeing a similar disparity he said, pointing to RP Data statistics presenting Brisbane’s median house price at $480,000, Melbourne’s at $610,000 and Sydney’s at $765,000. Perth’s median sits at $540,000.
In Brisbane, 76% of house sales are under $600,000, with this number dipping to 62% in Melbourne and 44% in Sydney.
For this reason, Walker pointed to Brisbane’s growing attraction for investors with a lower entry level and long-term buying opportunity.
“There is no doubt that there will be some value growth in Brisbane real estate this year, with higher demand leading to price growth,” he said.
“Sydney and Melbourne have already seen considerable growth, with double-digit price increases over the past year, but this growth is now set to slow, with the focus shifting to Brisbane as the next key growth area for Australia.”
He noted that Brisbane usually sits 12 to 18 months behind these two capitals in the cycle, proving it’s now Brisbane’s ‘turn’ to lead the growth.
<a href="mailto:jduke@propertyobserver.com.au">jduke@propertyobserver.com.au</a>
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jduke-EHk3XBmHkn

Disparity in median prices “not been seen” since 2004 draws investors’ eyes to Brisbane

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A lack of information in our industry is what causes some of the worst scandals. Often when we see a spruiker exposed for ripping people off, or taking undisclosed kickbacks, or in some other way running afoul, they've been doing it for a long time and many people have known about it.
When it comes to property, as with most things in life, the more information the better.
At the moment, we have Queensland potentially legislating against auction price guides - a detail that is heavily used and relied upon by buyers across Australia. It's also a number open to some hefty toying with - see underquoting and related arguments - which is why they may consider it better for consumers to do away with this number completely.
But herein lies the issue. Some information is better than other information, some statistics are inherently more useful, more specific, more valuable and more accurate. For property investors, novice buyers and everyone on the property spectrum, the challenge is being able to identify the good data versus the "not so reliable" data when it arises.
Last week, I had industry members from Sydney, Melbourne and Queensland cite to me that the statistics on underquoting around auction price guides can be anywhere from "a few of them" to "98% of agents" in their experience. It appears very few can agree whether or not it is a widespread practice, perhaps due to the difference in laws around underquoting across the states and territories.
So let us put this plainly.
If a vendor tells an agent they want $1.2 million and that's what is expected, this is what they put on the agency agreement. If it's advertised with a $1.2 million price guide and the auction just goes crazy and reaches $1.8 million - that's not misleading necessarily. If a vendor tells an agent they want $1.8 million and that's expected, this is what they put on the agency agreement and it's advertised with a $1.2 million price guide - that is misleading. It would be bizarre for an agent to put $1.2 million on any agreement if, and those that are good at their job can guess to almost the $1,000 what a property will go for, they know it will go for a substantially different price.
I have seen instances, and heard of many others, where the reserve is higher than the price guide. I suggest alerting us here with the details. But remember, the reserve price is usually set on the day or close to it. We all know how emotional this part of the process can be for both vendors and buyers. If there's a last minute surge in interest, or the vendor changes their mind, they could easily put the reserve higher than they'd previously indicated to the agent. This doesn't mean the real estate agent has done the wrong thing. The piece of paper that proves the underquoting remains the agency agreement - although you could make a good argument for the reserve price being indicative of whether there may be underquoting.
Grey areas can occur when you have unusual properties, infrequent sales or when the market is just going off (and in this last instance, some predictive measures should be able to be used). Of course, it's largely these types of properties where auctions are used to best effect and are therefore most popular.
Rather than decreasing information provided, it's worth a suggestion that either more information is given - such as the dollar figure put on the agency agreement - or more policing of underquoting takes place. This would require an effort, but a higher level of regular enforcement and presence, such as turning up at auctions and checking agency agreements, would quickly stamp out many of these issues. It would also shine the light onto the practice and reveal whether it is as "widespread" as expected by some. There is a huge role for the authorities here, and I look forward to seeing them take action in the future.
What is also worrying about the changes to the Queensland legislation, which has been touched on by a number of news outlets and the <a href="https://www.change.org/en-AU/petitions/jarrod-bleije-mp-amend-proposed-legislation-aimed-at-banning-price-guides-on-properties-going-to-auction-in-qld?recruiter=83952376&amp;utm_campaign=signature_receipt&amp;utm_medium=email&amp;utm_source=share_petition" target="_blank">Change petition from News Limited's real estate editor Kylie Davis</a>, is the penalty provided to real estate agents should they tell journalists a price guide on a property. Property media is a significant part of the Australian landscape and our real estate industry. There's already plenty we can't say as journalists without facing defamation lawsuits which, even if you win, can cost you dearly in the process. The one thing we'd hate to lose is the ability to comment on these prices or for our sources to be fined for providing information to us. Without price guides we head in blind, not knowing the dollar figure significance of an auction and left to 'guesswork'. Record-breaking auctions in Queensland may miss out on coverage - sometimes the price guide is enough to prompt a reporter to turn up.
The fact remains, however, that this is largely about how it will affect buyers and vendors and less to do with the reporters. A disconnect between the Real Estate Institutes recently appeared about this issue and I was struck by the comments from the CEO of the REIQ, Anton Kardash <a href="https://www.propertyobserver.com.au/new-south-wales/real-estate-institutes-go-head-to-head-over-queensland-auction-price-guide-debate/2014030268111" target="_blank">where he said that auctions are not unique to real estate</a>.
"Art, horses and motor vehicles, to name but a few, are regularly auctioned without a fixed price or a price guide because that is the very nature of auctions. The market will decide on the day of auction what it is prepared to pay for that particular asset," Kardash said.
But property, as no doubt many will agree, is not an artwork (although it can be), or a horse or a motor vehicle. Even those who buy mainly to invest will be forced to concede that for many this is their home and their life savings and we all deserve more from our industry than to treat property as solely another commodity.
He explains that not presenting a price guide is already the 'norm' in Queensland - and certainly it makes sense to legislate to ensure everyone is on the same page. But he also said this: "It should also be highlighted that if a seller wishes to market a property with a price or using a price guide, they may do so by instructing their agent to sell via the much more popular private treaty method."
Vendors should be able to sell their property with as much accurate information as they'd like to provide. If they want to include a building and pest inspection, a valuation and some rental appraisals into the mix, they should be able to. Why should they be unable to guide on price as well?
Kardash also points to the complaints being "rife" in other states regarding price guides for auctions. Considering New South Wales and Victoria are the two states with the biggest auction cultures, it would be a safe bet to assume he is pointing to Melbourne and Sydney as the perpetrators. I know many real estate agents in both of these capitals and a huge number of them are upright individuals that I would be shocked to see knowingly involved in any misleading behaviour. While I can't deny that there are some of the other side of the fence, why should we restrict those who take to their role with professionalism?
When it comes to property, as with most things in life, the more information the better. Our readers have been clear in a number of Property Observer polls, emails and comments that they'd like to see reserve prices published as an option if price guides are not available. Let's make the information provided more accurate, rather than looking to decrease that we already have.
<img src="/images/stories/2014/03/03/poll-results-march-3.png" alt="poll-results-march-3" width="470" height="111">
<a href="mailto:jduke@propertyobserver.com.au" target="_blank">jduke@propertyobserver.com.au</a>
Disclosure: Jennifer Duke has signed the Change petition against the Queensland auction price guide ban 
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Letter from the editor: More information not less please Queensland

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New insurance policy data from the Queensland Building and Construction Commission has seen a 27% uptick in two years in premium policies written.
Noting that the insurance policies are a precursor of building activities due to requirements in the Act that requires insurance premiums to be paid when entering into residential construction works contracts, Minister for Housing and Public Works, Tim Mander, expects to see construction grow.
“5,544 insurance premium policies were written in January 2014, compared to 4,946 in January 2013 and 4,349 in January 2012,” Mander said.
“That’s a 12%  increase on 2013 and a 27% increase over 2012, and shows dwelling construction is heading in the right direction.”
Homeowners are covered by the premium under the Queensland Home Warranty Scheme for up to six and a half years. This could be incorrect or incomplete work and subsidence issues.
Mander said the increase is lining up with ABS data, showing a trend dwelling approval increase of 2.6% in January.
However, it isn't just construction on dwellings that shows up in the premiums, with home warranty insurance required for all builders or contractors who undertake work over the value of $3,300 for a homeowner in certain categories, making it less certain that the increase will be as pronounced as the "construction boom" suggested by Mander's release.
Premiums may include work on building a new home, related roof building, townhouse or multiple unit dwelling (no more than three storeys), but it also relates to adding to, altering, renovating or repairing a dwelling, replacing or refitting of fixtures or fittings in a kitchen or bathroom or work on an unenclosed elevated platform, deck or veranda.
Painting, swimming pools, driveways, paths or roads are not included as residential construction work. You can see <a href="https://www.qcheck.com.au/forms/Insurable-Residential-Construction-Work.pdf" target="_blank">a full list here of what is included</a>.
<a href="mailto:jduke@propertyobserver.com.au">jduke@propertyobserver.com.au</a>
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Expected lift in construction activity pre-empted by insurance data

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The greatest contradiction in real estate is the gap between perception and reality on the best places to buy.  
It's extraordinary how many people cling to cherished beliefs about the superior qualities of  locations that don't deserve it.  
A good deal of evidence on this is contained within the latest edition of the REIQ's quarterly report.  
Based partly on this evidence but also on other research, here are the top five Queensland places that don't deserve their reputation as good places to buy.  
1) Noosa
This is Australian real estate's biggest lemon. Somehow Noosa gained a reputation as a great place to invest in holiday homes. The people who believe this clearly don't trouble themselves with research. The typical Noosa apartment is today worth 37% less than it was five years ago.
Despite agency rhetoric last year about market recovery, the median unit price is still falling – it dropped 8.5% in 2013. Houses aren’t much better, with a similar delcine in 2013 and values are currently 15% lower than five years ago.
If anyone knows about a worse performing market anywhere in Australia, please let me know.  
2) Surfers Paradise 
Investors should never go anywhere near this market. Surfers is about speculators and tourists, never a great foundation for a property market.
The average Surfers unit is today worth 12% less than five years ago. And despite all the bullish rhetoric spewing forth from the nation’s propaganda capital, values are still falling. The median price for Surfers Paradise apartments dropped 12% in the December quarter.  
3) The Gold Coast generally
Take a look at where values currently sit, relative to five years ago. Main Beach units: down 19%. Hope Island units: down 21%. Southport units: down 22%. Hope Island houses: down 38%. Broadbeach Waters houses: down 15%. Runaway Bay houses: down 15%.
There are now signs of improvement on the Gold Coast and inland housing suburbs in particular are starting to return to price growth. But there is every indication the Gold Coast will fall into the same trap that has hindered it in the past: a chronic oversupply of highrise apartments, which drags down the whole city market.
Now that developers have discovered their version of heaven on a stick – poorly-informed Asian investors – we're going to see another development frenzy. If insanity is repeating the same mistakes again and again, the Gold Coast is the nuttiest place in the nation.  
4) Brisbane CBD apartments 
Marketing agents are hyping up the rising sales of inner city units in Brisbane, but I would urge investors to approach with caution. Vacancies in the CBD are above 6% and rising, and most of the near-city suburbs have vacancy rates above 4%.
High vacancies cause rents to drop and propery values inevitably follow. It’s not yet as bad as Melbourne’s insane surplus, but it’s heading in that direction. Brisbane developers are chasing the same Field of Dreams as their Melbourne buddies: build it and the Chinese will come.  
5) Port Douglas 
Back in the 1980s when the Japanese were invading tropical north Queensland and Christopher Skase was trying to redefine luxury in hotels, Port Douglas became the next big thing. It never delivered on the hype but it somehow retains its status (with some, at least) as an exciting place to pour your life savings.
People still ask me whether “it’s still a good place to buy”. In reality, it never was – and it certainly hasn’t been lately, despite the lovely environment and proximity to the reef and the rainforest.
Here’s some raw data on the Port Douglas market: the median unit price has fallen an average 6% per year over the past five years and the median is now down to $220,000; the house market has dropped 6% per year over the past three years; the typical Port Douglas house today is worth 26% less than five years ago; and a Port Douglas house typically spends over a year on the market before selling, according to Australian Property Monitor.
But none of that will stop people continuing to buy in these places, especially if they read that everyone else is.
Terry Ryder is the founder of <a target="_blank" href="https://www.hotspotting.com.au/" rel="nofollow">hotspotting.com.au</a>.
You can contact Terry via <a href="https://mailto:%20ryder@hotspotting.com.au" target="_blank">email</a> or on <a href="https://twitter.com/hotspotting" target="_blank" rel="nofollow">Twitter</a>.
 
                       
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terryryder-YECXbqmri2

The five most overrated Queensland markets to buy in

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A retail complex at Oxenford on the Gold Coast has sold for $2.145 million to a local private investor.  

The sale of 110-112 Old Pacific Highway reflected a yield of 7.8%.  It houses four tenants - Ray White, a dentist, The Salvation Army and a Seafood &amp; Pizza eatery, which occupy a total of 570 square metres of retail space. The combined net income is about $175,750 per annum.

The tenants have between one and four years left remaining on their lease with options ranging between three to five years. The largest retail tenancy - the Salvation Army - covers an area of 220 square metres at a rent of $48,920 per annum.

The sale was negotiated by Mr Mason Kidman and Alan Robertson of Colliers International.

Mr Mason said the property was a straight forward income producing investment which was managed entirely by the previous owner. 

He expects the property will also benefit from significant infrastructure and commercial development that is currently in planning or under construction, pointing out that there was about $43 million worth of projects already underway in Oxenford.

Mr Mason said that the retail complex was positioned over two titles on a land area of 1,556 square metres and it had potential for future development, as it fell under a Zoned Central Oxenford Local Area Plan with allowance of up to three storeys build.

<a href="mailto:news@propertyobserver.com.au" target="_blank"></a><a href="mailto:news@propertyobserver.com.au">news@propertyobserver.com.au</a>

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kjiminez-eaYKfU7qd2

Gold Coast retail complex sells for $2.145 million

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A local investor has snapped up a commercial retail site at Capalaba in Brisbane's east for $3.7 million.  
The 1 Moreton Bay Road property is anchored by a Cash Converters outlet and sits on a site area of about 4,224 square metres, with the building area at about 1,542 square metres.
Ray White Commercial Bayside’s Nathan Moore and Michael Keddy were the selling agents, acting on behalf of a private seller.
“This freehold property has three tenancies with a potential net rental income of more than $320,000 per annum,” said Mr Moore. 
Cash Converters started a 3 x 3 x 3 x 3 lease in January, 2011 and have exercised the first option.
An outdoor furniture is another tenant in the property, while the third tenancy is currently vacant.
“We are working with a number of parties to finalise a lease over this prized corner location,” said Mr Keddy. 
<a target="_blank" href="mailto:news@propertyobserver.com.au"></a><a href="mailto:news@propertyobserver.com.au">news@propertyobserver.com.au</a>
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Local investor snaps up Capalaba, Brisbane retail site for $3.7 million

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Brisbane has welcomed its first international hotel in more than a decade, with Starwood Hotels opening its Four Points by Sheraton in the city centre.
State Minister for Tourism, Jann Stuckey, said it showed confidence in the sector, which the government promised to grow as one of the four pillars of the economy.
The Four Points hotel boasts 246 rooms and suites and is expected to contribute to visitation numbers by bringing thousands of guests each year.
The Newman government is aiming to double annual overnight visitor expenditure from $15 billion in 2010 to $30 billion by 2020.
Ms Stucky described the new hotel as "big boost for the local precinct" and that it was another step in the revitalisation of this part of the city’s CBD, which would see "significant redevelopment in the coming years".
<a href="mailto:news@propertyobserver.com.au" target="_blank"></a><a href="mailto:news@propertyobserver.com.au">news@propertyobserver.com.au</a>
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Four Points by Sheraton hotel opening in Brisbane city centre a "big boost for the local precinct"

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Investors with properties in North Queensland towns of Collinsville and Merinda have been reassured by Deputy Premier, and Minister for State Development, Infrastructure and Planning Jeff Seeney, that the urban areas in these two towns would be excluded from the Galilee Basin State Development Area.
While he wasn’t giving anything away as to if a State Development area will necessarily be declared, he did say that those who had received past notifications that they may be affected could now have their fears reduced.
Member for Burdekin, Rosemary Menkens, said that it is a relief to landholders in her electorate.
“Under a broadly proposed SDA, landholders received notification that their properties may be impacted with construction of the vital rail link to the Port of Abbot Point, however they have now been given assurances that these urban areas will be excised from the SDA if and when it is declared,” Menkens said.
“Our small towns have been struggling. They have been waiting for too long while Labor and the Greens have delayed these infrastructure projects which will bring the jobs and prosperity needed to once again breathe life into the local economy,” she said.
Seeney said that feedback from the communities, as well as further planning for the rail, had allowed broad areas of the town to be excluded.
“The proposed Galilee State Development Area is designed to facilitate the construction of rail corridors to carry coal from potential Galilee Basin mines to the Port of Abbot Point,” he said.
“Residents in these urban areas can now be assured their properties will not be affected by proposed rail lines in the future and I anticipate further refinements to the proposed State Development Area as consultation continues.”
In <a target="_blank" href="/news">Collinsville</a>, properties that are in the area encompassing the existing rail network and bound by where the Bowen Development Road crosses Pelican Creek and the foot hills of Mount Devlin will be kept out of the SDA.
In <a target="_blank" href="/news">Merinda</a>, the area between the Bruce Highway and Jackson Street adjacent to the existing rail lines will be excluded from the proposal.
jduke@propertyobserver.com.au
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North Queensland residents have property fears allayed by development clarifications

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Brisbane, in recent years, has achieved prime status with investors due to its lower entry level price and comparatively strong yields.
However, powerhouse regional town Gladstone in central Queensland has long been an investment hotspot, making its way on to top suburb lists across the country.
So, which one would you choose to park your money in? <a href="/news">BRISBANE</a> 
Bonus reading: <a href="https://www.propertyobserver.com.au/queensland/brisbane-s-most-popular-suburbs-too-expensive-try-the-10-hidden-gem-suburbs/2013082964581" target="_blank">10 hidden gem suburbs in Brisbane</a> 
Lachlan Walker, director of <a href="https://www.propertyobserver.com.au/news/brisbane-markets-strength-to-muscle-up-further-in-2014-place-estate-agents/2013123167060" target="_blank">Place Advisory is bullish on Brisbane</a>, calling it the key business district for South East Queensland, and a hub of commerce, professional services and industry.
“Over recent years Brisbane’s property price growth has slowed considerably against its southern counterparts, creating the ideal buyers’ market today, but Brisbane’s population is still expected to grow by over 9,000 people each year; meaning there is an underlying demand for new homes and rental accommodation,” said Walker.
“According to the SEQ Regional Plan, there is a forecast need for at least 138,000 new infill apartments to meet Brisbane’s predicted population growth, illustrating that residential property is in hot demand.”
However, <a target="_blank" href="https://www.propertyobserver.com.au/queensland/investor-warning-brisbane-apartment-prices-expected-to-soften-in-2015/2016/2014012967432">BIS Shrapnel is expecting apartment prices in Brisbane to soften</a> over the next few years after strength this year in the off the plan building sector.
In previous market upturns, they noted that interstate investors have accounted for up to a massive 40% of the off the plan sales in inner Brisbane, with New South Wales buyers being pronounced – finding the apartment prices far more accessible than those of Sydney.
With Sydney’s prices still increasing, this seems likely to continue.
Currently, BIS Shrapnel estimates that as of November 2013, over 4,000 apartments in inner Brisbane were under construction in projects scheduled for 2015/2016 completion, with 3,000 expected to see pre-sales hurdles before proceeding to completion around this time.
New apartment completions are therefore looking to increase from 1,300 dwellings in 2012/2013 to more than 2,000 in 2013/2014 and 2014/2015. This could see the numbers exceeding 3,000 in 2015/2016.
Across Brisbane, the median house price is $470,000, while in Brisbane City it sits substantially higher. Meanwhile, the median unit price sits at $383,000 across the entirety of Brisbane.
“Yes, the top end suffered losses from those who over extended themselves, but Brisbane’s middle market continued to transact as people took the opportunity to trade and upgrade,” said Walker.
<a href="/news">BRISBANE CITY</a> Median house price: $662,000 Median weekly asking rent (house): $560 Indicative rental yield: 4.4% Median unit price: $461,500 Median weekly asking rent (unit): $630 Indicative rental yield: 7.1% (Source: RP Data) Vacancy rate: 6.3% (Source: <a href="https://www.sqmresearch.com.au/graph_vacancy.php?mode=p&amp;postcode=4000&amp;t=1" target="_blank">SQM Research</a>) <a href="https://www.sqmresearch.com.au/graph_vacancy.php?mode=p&amp;postcode=4000&amp;t=1"></a> 
<a href="/news">GLADSTONE</a>
Recently, Property Observer asked <a href="https://www.propertyobserver.com.au/news/is-the-gladstone-market-positioned-to-crash/2014011567210" target="_blank">whether Gladstone was positioned to crash</a> after there was talk of skyrocketing vacancy rates. The fact that this question is asked says something of the general view of the risk prevalent in markets similar to Gladstone.
Despite this, there is an element of the ‘sky falling’ with these sorts of sensational comments, explained director of property management and leasing Ray White Gladstone, John Fieldus. While the vacancy rate got close to 9% the week before Christmas, this is actually said to be normal for the market. In January it returned to close to 3.5%. Despite this, SQM Research still records the vacancy rate near to 9%.
“I’ve been a property manager for 25 years and it’s very sensational what is being said.
“It’s like an ebb and flow effect, a lot of tenants do transfer, it’s a very transient sort of town,” Fieldus said.
This strongly contrasts with the predictions being made mid-2013 that prices for houses would drive upwards of $900,000 by 2018. The study, from Central Queensland University was commissioned by Lyons Capital – they were developing in the area at the time of the study.
LJ Hooker Gladstone director <a href="https://www.gladstoneobserver.com.au/news/median-house-at-900k/1903750/" target="_blank">Mark Spearing told The Gladstone Observer</a> at the time that this was pure speculation.
The area has grown substantially over the past few years, and often it is pointed to as a town that offers diversity as well as the bullishness of a mining town investment area.
With the fifth largest multi-commodity port in Australia and the world’s fourth largest coal exporting terminal, it has become a focused hub. Despite some of the diversity, it has seen adverse impacts from the mining sector downturn over the past two years, Walker warned.
“This uncertainty resulted from a significant decline in employment opportunities and is reflected in the ongoing decline in the level of sales transactions,” he said. “Unlike Brisbane, Gladstone is a rare example in the Australian property market that defied the immediate wider Queensland market contraction post GFC, only to suffer the effects of a mining recession years later, and arguably to a greater extent,” he said.
Apartment sales across Gladstone through 2008 to 2011 saw figures peak just short of 10 year highs, with a median driven to $465,000.
“However, the market performance in Gladstone has been tightly linked to the demand resultant from the mining industry in the local area,” said Walker. Prices soon came back to $365,000 as of the December 2013 quarter, with an 18% softening over the past 12 months.
“Therefore, unfortunately as quickly as the Gladstone apartment market went up, so too did it go down”.
<a href="/news">GLADSTONE</a> No statistically reliable information available for medians and rents Vacancy rate: 8.8% (Source: <a href="https://www.sqmresearch.com.au/graph_vacancy.php?mode=p&amp;postcode=4680&amp;t=1" target="_blank">SQM Research</a>)  
{module Where would you buy an investment property: Brisbane or Gladstone?}
<a href="mailto:jduke@propertyobserver.com.au">jduke@propertyobserver.com.au</a>
                            
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Brisbane v Gladstone: Where would you invest?

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A $16.5 million development site in Brisbane’s Newstead, at the Gasworks riverside masterplanned community, has been purchased by Tom Dooley Developments.
The <a target="_blank" href="/news">Newstead</a> site has been bought as part of the shopping and restaurant precinct and fronts <a target="_blank" href="https://www.tdd.com.au">Skyring Terrace at 30 Festival Place</a>. 
The intention is for a 25 storey mixed-use development, and planning is currently “well underway” according to managing director Tom Dooley.
“With its beautiful Parklands, great public transport, river access and the CBD less than two kilometres away, Gasworks is a true work, play, live, shop destination,” said Dooley.
<a target="_blank" href="https://thegasworks.com.au/masterplan/masterplan">The masterplanned site</a><a href="https://thegasworks.com.au/masterplan/masterplan"></a> is marking a “natural progression” from the shopping precinct, which includes a Woolworths and a number of other retailers, he said. This will be ‘Tower B’ on the masterplan, with proposed one, two and three bedroom apartments.
<img src="/images/stories/2014/03/03/6.jpg" width="470" height="295" alt="6">
Newstead's median unit price is $625,000, with $533 per week median advertised asking rent, according to RP Data.
“We are hoping to go to the market in May with a range of high quality apartment product and we expect massive interest as not only will these luxury apartments be high quality with everything at your fingertips but the views will be sensational.”
Aquila and Pietra are also in the Dooley portfolio, meanwhile the company has also <a target="_blank" href="https://www.propertyobserver.com.au/residential/tom-dooley-returns-to-kangaroo-point-with-fourth-residential-project/2013041660422">been a significant player in the Kangaroo Point market</a>.
Currently within the entire 6.4 hectare masterplanned development, Longlands Towers was the first residential precinct with 226 one, two and three bedroom apartments, with swimming pools gardens and terraces.
Online marketing material likens this community to Sydney’s Darling Harbour and Melbourne’s Docklands, transforming a former industrial precinct into an urban community.
The apartments within Gasworks are being marketed to both investors and owner occupiers, citing strong growth in the area. They point to a ten-year average annual price growth for <a target="_blank" href="/news">New Farm</a>, Newstead and <a target="_blank" href="/news">Teneriffe</a> of 11.7% from 2001 to 2011, which was higher than other Inner Brisbane suburbs. However, they also pointed to significant amounts of supply - currently, an average of 7,250 apartments sold each year in Inner Brisbane, with an expectation of doubling this figure over the next four years.
jduke@propertyobserver.com.au
For the latest development listings, brought to you by Property Observer and partners, see our <a rel="nofollow" href="https://showcase.propertyobserver.com.au/">Investor Showcase</a>. 
                       
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