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Opportunities to enter the Sydney residential rental market continue to dwindle due to the ongoing low vacancy rates, according to data released by the Real Estate Institute of New South Wales.
The March 2013 REINSW vacancy rate survey, has since shown a further drop in the Sydney metropolitan area to 1.8% from 1.9% at the end of February. 
The inner suburbs (0-10km from CBD) led the decline, shrinking 0.3% from last month to 1.7% returning to the same rate in December 2012.
The middle suburbs (10-25km from CBD) remained steady at 2%, but down from January when it hit 2.3%.
REINSW president Christian Payne continues to express his concern over the lack of supply in the rental market this year, after September 2012 he had said the government had failed to provide appropriate incentives to invest in the property market.
“The metropolitan market has tightened for the second month in a row and brings us back to November 2012 levels,” Mr Payne said this month.
Outside of Sydney, Illawara had shrunk by 0.1% to 2.2%, <a href="/news">Wollongong</a> had declined by 0.4% to 2.3% while the Hunter region had increased by 0.1% despite a <a href="/news">Newcastle</a> experiencing a 0.4% drop to 2.1%.
Mr Payne said despite the Orana region (which includes major centres <a href="/news">Dubbo</a>, <a href="/news">Cobar</a> and <a href="/news">Mudgee</a>), experiencing a rise of 0.5% to 1.6%, it still remained the most difficult region to find accommodation for in its third consecutive month.
According to Payne, the Central Coast availability jumped to 2.4% with 0.5% increase and Coffs Harbour remains the easiest place to find rental accommodation with an increase of 0.4% to 4.3%.
Northern Rivers and Mid-North Coast also experienced increases of 0.4% to 2.7% and 2.3% respectively.
New England saw a fall of 0.8% to 2.5%, the Riverina also saw a decline by 0.1% to 3.4% while the availability in <a href="/news">Albury</a> saw an increase of 0.1% to 1.7%.
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Sydney residential rental market continues to tighten

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The inner Brisbane strata office market is gaining momentum according to Colliers International, which recently negotiating $1.8 million in sales over three strata titled properties in and around the Brisbane CBD.
Colliers International agents Hunter Higgins and Jock Murray, who negotiated the sales, said due to low interest rates, many businesses appeared to be looking at purchasing a premise rather than renting. 
Higgins believes that the three strata properties - all purchased by owner-occupiers - indicates that the level of affordability in the Brisbane strata market is encouraging small businesses with imminent lease expiries to consider entering the owner-occupier market. 
“The level of affordability at the moment is clearly providing the impetus for these buyers to take the plunge now and buy an asset,” says Higgins. 
“From an affordability point of view, it is the ideal time for small businesses to make a move and buy their own strata unit.” 
A series of redevelopments currently happening throughout the Brisbane CBD, notably ISPT's <a href="https://www.propertyobserver.com.au/retail/ispt-proposes-new-queen-street-brisbane-retail-to-lure-zara-and-topshop/2013032159978" target="_blank">$100 million Regent Tower Windergarden</a> complex, is expected to continue to drive the growing confidence in the owner-occupier market. 
A number of strata-titled office properties within the Brisbane CBD are currently available for puchase
This include a 188 square metre <a href="https://www.realcommercial.com.au/property-offices-qld-brisbane+city-500628411" target="_blank">Edward Street</a> office asking $1.25 million, a 243 metre square office space at <a href="https://www.realcommercial.com.au/property-offices-qld-brisbane+city-5792102" target="_blank">Queen Street</a> with an asking price of $1.4 million and a 140 square metre space at <a href="https://www.realcommercial.com.au/property-offices-qld-brisbane+city-500655003" target="_blank">Adelaide Street</a> with an asking price starting at $1.1million.

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Owner occupiers see value in Brisbane strata office market

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A former ungainly Frankston waterfront complex will launch in April as luxury residential and serviced apartments following completion of the Peninsula on the Bay by developer the Asian Pacific Group.
The redevelopment of one of Victoria’s best located, but least attractive coastal buildings is expected to capitalise on investment in tourism and business in the area as well as further help rejuvenate the <a href="/news">Frankston</a> area which is tipped as a hotspot for property investors.
The redeveloped 10-storey <a target="_blank" href="https://www.peninsulaonthebay.com.au/">Nepean Highway complex</a> features 65 residential apartments with 86 serviced apartments (managed by Quest), and a ground floor serviced office complex.
Most apartments will have sea and CBD views.
Its main selling point will be its proximity to the beach and commanding views over Port Phillip Bay, the Mornington Peninsula and Melbourne's CBD.

Sale of apartments at Peninsula on the Bay will be through Quest Properties, with the prices expected to be between $250,000 and $350,000.
Quest is offering investors a 25-year lease with a secured 6.2% to 6.7% rental return fixed for the first two years and then increasing by 4% per annum under the lease.
The building, which had been long vacant and had a number of previous uses including as offices, a nightclub and leisure centre, was once referred to by comedian Barry Humphries as "the world’s ugliest building".
A number proposals for use of the site have come before the Frankston Council but failed to come to fruition before the development proposal from the Asian Pacific Group.
Frankston TV produced a <a href="https://www.youtube.com/watch?v=hUPaotgIXo4" target="_blank">video</a> last year to show the state of the building prior to  development, its proximity to the beach and location.
The redevelopment of the Peninsula Centre into a residential, commercial, retail and restaurant hub is expected to attract a series of established retail outlets as well as a restaurant to be run by popular Australian restaurateur <a target="_blank" href="https://www.propertyobserver.com.au/retail/hawthorn-east-premises-of-paul-mathis-firechief-restaurant-listed-for-march-auction/2013031259794">Paul Mathis</a>.

Property information provider Residex reported strong capital growth in the Frankston property market with an 18% increase in house prices, and a 19.5% increase in unit prices over the past three years.
The development will benefit from Frankston’s transformation into urban waterfront destination, with plans in progress for a local marina as well as the soon to be opened Peninsula Link highway upgrade, which will cut down travel time from Frankston to the CBD.
Will Deague, CEO of Asian Pacific Group, has been quick to downplay the reputation of Frankston, often touted as a problem area due to its lower-income socioeconomic demographic.
“I spent the whole weekend down there on-site and that beach is as good as anywhere.

“It’s got a lot going for it. I think it’s just a matter of time for Frankston,” he says.

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Frankston eyesore reborn as Peninsula on the Bay holiday apartments

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Meriton boss Harry Triguboff, who turned 80 earlier this month, is considering the possibility of one day handing over the reins of his billion dollar company to his four grandchildren.
However, he has no intentions of retiring from a business that has propelled him from humble beginnings as a taxi driver to the seventh-richest person in Australia.
Grand-daughter Ella Lankry is already well entrenched in the family business as the company’s marketing director while the remaining grandchildren are still at university.


 “They will be finishing in a year’s time. We shall see how they perform,” Triguboff said in an interview with BRW magazine. 
“What I do is from time to time I give my children and grandchildren some properties. It’s in their name. So whatever happens to me at least they will have their own property.” 
While Triguboff hasn’t ruled out listing Meriton, the company has generally steered clear of entering into business partnerships or joint ventures in the past and Triguboff dismisses recent speculation of a future partnership with property group, Stockland. 
“They’re a lovely company, but they have a different culture,” Triguboff says. 
“The problem with Meriton is we have never been really involved with others, we have got our own way. We have some difficulties combining with someone else,” he adds. 
The Street Talk column of the Australian Financial Review speculates there are a number of Asian parties keen to pick up a "large Australian presence in one swoop."
It reported today the interested Asian bidders had contacted Australian banks to talk about the situation.
"Asian investors are said to be attracted to changes that have occurred in Triguboff’s business.
"Meriton has moved away from the capital intensive build-and-sell structure towards being an asset manager.
"More than 70% of Meriton’s revenue now comes from income-producing assets," the AFR column noted.
Triguboff will continue to be kept busy.
Last month he announced a <a href="https://www.propertyobserver.com.au/developments/harry-triguboff-celebrates-80th-birthday-with-proposed-%24100-million-inner-sydney-site-acquisition-and-calls-for-more-rate-cuts/2013030459705" target="_blank">$100 million land acquisition for a site in Mascot </a>that could have up to 1,000 apartments over the next four years, and he further estimates another 8,000 apartments in the building pipeline to be completed on other projects.
His first apartment block at Tempe has show more than respectable price growth and rental yields over the five decades.

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Asian buyers covet, while Harry Triguboff considers one day handing Meriton reins to grandkids

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Labor Party favourite, the Art Deco-inspired <a target="_blank" href="https://www.hotelkurrajong.com.au/HomePage.aspx">Hotel Kurrajong </a>in Canberra’s Parliamentary precinct,  has sold at auction for $7.65 million to Toga Hotels and the NRMA.
The hotel, which has one of its rooms named after Australia’s 16th Prime Minister, Ben Chifley, will retain its name and art deco elegance, Toga Hotels has confirmed.
Now heritage listed, the building situated only one kilometre from Capital Hill was constructed in 1926 and designed by the Commonwealth’s chief architect, John Smith Murdoch, also responsible for designing Parliament House and the Hotel Canberra (now the Park Hyatt).
It stands at 8 National Circuit in Barton.
The sales campaign was led by Michael Heather and Paul Powderly of Collier Internation on behalf of the ACT government's Land Development Agency (LDA).
Faced with closure in the Great Depression, the hotel managed to endure under manageress Isabelle Southwell, and over the years has retained most of its historical architectural features, despite being modernised in 1964 and entirely refurbished in 1995.
The property which sits on a 16,426 square metre block provides 117 rooms with both executive and budget rooms available and additionally comes with a brassiere style restaurant, bar and several conference and function rooms.
As one of the first hotels built to accommodate government staff and officials transferring from Melbourne to Canberra for the new federal parliament, Kurrajong quickly became the hotel of choice for the Australian Labor Party (ALP).
One of the most notable guests was Australia’s 16th Prime Minister, Ben Chifley who preferred to reside at Kurrajong rather than The Lodge during his four year tenure in government. The hotel remained his primary place of residence up until his death in 1951 from a heart attack and the room now known as the Chifley room, has become a major drawcard for guests.
Briefly closing down in 1976 and 1978 due to declining patronage the hotel served as offices for parliamentary staff until the ACT Government secured a 50-year lease re-opening it in 1995 as a four star boutique hotel.
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Former Labor Party favourite the Hotel Kurrajong sells for $7.65 million

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The trendy, cosmopolitan inner Sydney enclave of Darlinghurst was the best performing Sydney suburb over 2012, according to latest quarterly report from the Real Estate Institute of NSW (REINSW).
Located just 3.2km from the CBD with its main thoroughfare being Oxford Street, house prices in Darlinghurst increased 21.2% over 2012 to a median of $1.057 million.
This was from a relatively small number of sales – 53 for the year.
Averaging just over one sale a week, it performed substantially better than <a target="_blank" href="https://www.propertyobserver.com.au/new-south-wales/sydney-house-prices-up-61-over-2012-but-little-growth-in-the-western-suburbs-reinsw/2013030759770?utm_source=po&amp;utm_medium=aida&amp;utm_campaign=news">the inner city Sydney market as a whole</a> which managed no price growth over 2012.
Bresic Whitney Darlinghurst agent Darren Pearce says the recent addition of the Hyde Park Plaza high-end apartments on College Street have added considerable real estate value to the Darlinghurst area.
Pearce said the Darlinghurst market is evenly split between owner occupiers and investors.
He adds that the suburb is still experiencing a growth spurt with the prestige, historic terrace house market currently fetching up to $1.3 million a property and beyond.
Last week Pearce sold <a target="_blank" href="https://www.realestate.com.au/property-house-nsw-darlinghurst-112977127">this five-bedroom Darlinghurst terrace</a> on Liverpool Street, for $2.275 million. It last sold for $2.1 million in 2009 and for $350,000 in 1993, according to RP Data records.
In December last year, this four-bedroom terrace on Surrey Street (pictured below) sold for $1.59 million through Gary Sands of Di Jones Real Estate – Woollahra.
It last sold for $1.02 million in 2002, according to RP Data records.
{yoogallery src=[images/stories/2013/03/march14darlinghurst]}
Another recent terrace sale was a <a href="https://www.bresicwhitney.com.au/real-estate/id/property/9641/darlinghurst/187-palmer-street/#top" target="_blank">four-bedroom house on Palmer Street</a> which sold for $1.275 million through Dominic Kuneman and Brigitte Blackman of Bresic Whitney. It last sold for $680,000 in 1999.
Pearce expects the locality and culture of Darlinghurst to continue to drive strong interest in the area,
“The proximity to the CBD is certainly a major drawing point as well as the opportunity for people to indulge in the cafe lifestyle offered by the numerous social hubs in and around the area,” he says.
The north western suburb of Woodcroft experienced the second highest annual growth in house prices with a rise 15.5% to $485,000. followed by West Pennant Hills with a 15.4% increase in its median house price to $907,500.
The Top 25 performing Sydney suburbs over 2012 were*: 
<table cellspacing="0" cellpadding="0" border="0" style="width: 470px;">
<colgroup>
<col width="58">
<col width="130">
<col width="100">
<col width="107">
<col width="139">
</colgroup>
<tbody>
<tr height="20">
<td width="58" height="20">No.</td>
<td width="130">Suburb</td>
<td width="100">% increase</td>
<td width="107">No. of sales</td>
<td width="139">Median Price</td>
</tr>
<tr height="20">
<td height="20">1</td>
<td>Darlinghurst</td>
<td>21.2</td>
<td>53</td>
<td>$1,057,500</td>
</tr>
<tr height="20">
<td height="20">2</td>
<td>Woodcroft</td>
<td>15.5</td>
<td>61</td>
<td>$485,000</td>
</tr>
<tr height="20">
<td height="20">3</td>
<td>West Pennant Hills</td>
<td>15.4</td>
<td>181</td>
<td>$907,500</td>
</tr>
<tr height="20">
<td height="20">4</td>
<td>Summerland Point</td>
<td>15</td>
<td>60</td>
<td>$325,000</td>
</tr>
<tr height="20">
<td height="20">5</td>
<td>Spring Farm</td>
<td>13.1</td>
<td>55</td>
<td>$441,000</td>
</tr>
<tr height="20">
<td height="20">6</td>
<td>Thirlmere</td>
<td>12.8</td>
<td>52</td>
<td>$437,500</td>
</tr>
<tr height="20">
<td height="20">7</td>
<td>North Curl Curl</td>
<td>12.1</td>
<td>70</td>
<td>$1,250,000</td>
</tr>
<tr height="20">
<td height="20">8</td>
<td>Berowra Heights</td>
<td>10.6</td>
<td>56</td>
<td>$648,000</td>
</tr>
<tr height="20">
<td height="20">9</td>
<td>Campsie</td>
<td>10.4</td>
<td>71</td>
<td>$740,000</td>
</tr>
<tr height="20">
<td height="20">10</td>
<td>Buff Point</td>
<td>10.3</td>
<td>56</td>
<td>$310,000</td>
</tr>
<tr height="20">
<td height="20">11</td>
<td>Oatlands</td>
<td>10.2</td>
<td>58</td>
<td>$807,500</td>
</tr>
<tr height="20">
<td height="20">12</td>
<td>St Ives Chase</td>
<td>9.8</td>
<td>50</td>
<td>$990,000</td>
</tr>
<tr height="20">
<td height="20">13</td>
<td>Seaforth</td>
<td>9.6</td>
<td>115</td>
<td>$1,425,000</td>
</tr>
<tr height="20">
<td height="20">14</td>
<td>Lisarow</td>
<td>9.6</td>
<td>71</td>
<td>$455,000</td>
</tr>
<tr height="20">
<td height="20">15</td>
<td>Bargo</td>
<td>9.4</td>
<td>74</td>
<td>$419,000</td>
</tr>
<tr height="20">
<td height="20">16</td>
<td>Kenthurst</td>
<td>9.2</td>
<td>51</td>
<td>$1,272,000</td>
</tr>
<tr height="20">
<td height="20">17</td>
<td>Wyong</td>
<td>9.1</td>
<td>71</td>
<td>$330,000</td>
</tr>
<tr height="20">
<td height="20">18</td>
<td>Guildford</td>
<td>8.8</td>
<td>206</td>
<td>$468,000</td>
</tr>
<tr height="20">
<td height="20">19</td>
<td>Bella Vista</td>
<td>8.6</td>
<td>97</td>
<td>$890,750</td>
</tr>
<tr height="20">
<td height="20">20</td>
<td>Botany</td>
<td>8.4</td>
<td>55</td>
<td>$835,000</td>
</tr>
<tr height="20">
<td height="20">21</td>
<td>Campbelltown</td>
<td>8.3</td>
<td>112</td>
<td>$325,000</td>
</tr>
<tr height="20">
<td height="20">22</td>
<td>Tumbi Umbi</td>
<td>8.3</td>
<td>89</td>
<td>$396,000</td>
</tr>
<tr height="20">
<td height="20">23</td>
<td>Canley Heights</td>
<td>8.1</td>
<td>119</td>
<td>$465,000</td>
</tr>
<tr height="20">
<td height="20">24</td>
<td>Ruse</td>
<td>8</td>
<td>72</td>
<td>$356,250</td>
</tr>
<tr height="20">
<td height="20">25</td>
<td>Greenacre</td>
<td>7.7</td>
<td>202</td>
<td>$560,000</td>
</tr>
</tbody>
</table>
Source: REINSW
*Suburbs which recorded less than 50 sales for the year were not included.
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Darlinghurst tops the 25 best performing Sydney suburbs in 2012: REINSW

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The rural homestead, The Rest, situated in the historic town of Flinders on the Mornington Peninsula <a href="https://www.realestate.com.au/property-house-vic-flinders-113030755" target="_blank">has been listed for auction</a> on March 17.
Located only 300 metres from the beach, the house is thought to be built in the 1890s and is in its original, unrenovated form.
It has retained the vintage aesthetic of the era, characterised by its high ceilings, classic detailing and an arched hallway.
Owned by the late Bob Boynton, a former Australian yachting champion, the house features four bedrooms and two bathrooms sitting on a generous half a hectare block, complete with a private garden.
Kay and Burton Real Estate agent Paul Armstrong, who is marketing the homestead, notes the declining number of similar large properties in the suburb.
“There are very few holdings left in the Flinders region that offer blocks of this size,” he says.
Armstrong believes the property will fetch between $1.75 million and $2 million when it goes to auction.
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Late yachting champ's Mornington rural retreat set for auction

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Everton Plaza, an almost fully-leased shopping centre located in Brisbane’s inner northwest, is expected to attract retail investors.
Stewart Gilchrist and Matthew Curtain of Colliers International have been tasked with the marketing campaign on behalf of Centa E Pty Ltd.
They expect the plaza will garner the interest of both local and interstate buyers.
“Indeed, the fact that the centre is well established and has almost no vacancy will be one of the most attractive aspects for any investor,” they said.

The 1.75-hectare Everton Park property, located at 791 Stafford Road, has a lettable area of 7,200 square metres with up to 230 parking spaces and features frontage to arterial roads South Pine Road and Stafford Road as well as to two rear streets.

With anchor tenant Coles, the complex comes with 26 other specialty tenants including ANZ, Chemmart, BWS, Australia Post, Brumby’s, Domino’s Pizza and the Fernwood Fitness studio which occupies the whole of the first floor.

Matthew Curtain estimates that on a fully leased basis the net annual income of the building has a $2 million potential.
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Brisbane's Everton Plaza expected to attract local and interstate buyers

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Five of Australia’s eight capital cities have shown continued growth in their housing markets in February, following the mild recovery of 2012, according to February’s RP Data Rismark home value index.
The February 2013 figure shows a slight slowing in the capital dwelling values with a  rise of 0.3% following a 1.2% jump in January.
RP Data says Melbourne, Australia’s second largest housing market, largely drove the monthly result with dwelling values up 1.5% with even stronger growth at Canberra (up 1.9%) and Darwin (up 2.3%).
But Melbourne still remains in negative territory over the year.
There was a limited rise in dwelling values in Sydney, up just 0.1% in February, but up 2.7% over the year.
Click to enlarge
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Results for the past quarter have shown Hobart to be the best performing capital city with a 4.2% rise in values.
Darwin performed the weakest with a 2.5% decrease in property values, but showed the highest rental yields with a gross rental yield of 6.2% for houses and 6.3% for units.
 Melbourne showed the lowest rental yields with a 3.6% gross rental yield for houses and 4.4% for units.
 Sydney retained its mantle as the most expensive Australian city with a median dwelling price of $540,000, while Hobart proved to be the most affordable capital city with a median dwelling price of $310,000.
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Melbourne assists capital city home values record modest growth in February: RP Data Rismark

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Most Australian home owners expect the Reserve Bank of Australia (RBA) to leave the official cash rate unchanged for a third consecutive month, according to a national survey conducted by mortgage broker Loan Market.
Asked what action the RBA would take at its March meeting, 53% of respondents anticipated the current cash rate to be maintained at 3%.
The Loan Market spokesman Paul Smith, said that home owners were well aware of the state of the Australian economy and the subsequent likelihood of rate cuts.
“Consumer confidence has been varied for some time but these survey results indicate that home owners are aware of the multitude of facts the RBA considers when it assess the cash rate and the impact it can have on their home loans and deposited savings,” he said.
A similar survey done in February showed 55% of home owners correctly predicted the RBA would leave rates unchanged.
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53% of home owners expect RBA cash rate to remain steady: Loan Market survey

Apartment buyers in New South Wales are set to gain a decade of insurance-backed protection against major building defects, after the NSW Parliament passed the Fair Trading and Building Legislation Amendment Bill 2026.&nbsp;

The Bill establishes decennial defect insurance, known in the market as Latent Defects Insurance (LDI), as an alternative to the existing two-year strata building bond. It cleared the Legislative Council with amendments on Tuesday evening (August 4, 2026), with the Legislative Assembly agreeing to those amendments shortly after.

Under the reform, eligible developers can satisfy their statutory bond obligation by taking out an approved decennial-style policy that gives owners 10 years of cover for major structural defects from completion, claimable directly, without first having to pursue developers or builders through costly legal action.&nbsp;

The change forms the final tranche of amendments arising from the 2021 statutory review of the Strata Schemes Management Act 2015 and related legislation.

Resilience Insurance, which originated the cover in Australia and has delivered it in NSW since 2022, welcomed the passage and credited the NSW Government for delivering it.

“This is protection apartment buyers have needed for a long time, and the credit for delivering it belongs to the NSW Government,”&nbsp;said Corey Nugent, CEO of Resilience Insurance.

“Minister Chanthivong and his team have shown real leadership in replacing an outdated two-year bond with cover that matches the lifespan of the buildings people are buying into. Reform like this is what good, evidence-based regulation looks like.”

Resilience has delivered LDI in NSW since 2022, protecting thousands of apartments, giving the State, and now the country, real-world evidence of how decade-long, no-fault protection works in practice.

The reform also places NSW within a wider national shift.

NSW is the third jurisdiction to put decennial cover into law. The ACT legislated for it in 2024, with the scheme taking effect in late 2025, and Victoria passed its own framework on 17 June. Between them, the three cover the majority of Australia's apartment market.

The reform commences once the legislation is proclaimed, which is expected in the coming weeks. From that point, developers of Class 2 residential apartment buildings can meet their statutory obligation with an approved decennial policy in place of the bond.

Buyers who purchased into projects that took out the cover early are among the first in the country to take keys to apartments carrying decade-long structural protection.

“With the legislation passed, the focus now turns to making it work for buyers,”&nbsp;Nugent said.

“There are already thousands of apartments in NSW covered by this insurance, bought by developers who moved early. The question every buyer should be asking in a display suite is a simple one: does this building come with 10-year defect cover, and who stands behind it?&nbsp;

“We look forward to working with the Government and the Building Commission in coming weeks as the framework moves to implementation, and to sharing what we have learned over the past four years so the protection reaches owners as smoothly and quickly as possible.”

Other states are working through their own reform programs. Western Australia has indicated that decennial cover is within consideration a later stage of its reform sequence, and Queensland has been examining the settings as it looks at the development pipeline ahead of the 2032 Olympics.

Resilience Insurance acknowledges the NSW Government’s continued focus on strengthening consumer protection while supporting housing delivery across the State.

Fast Facts: What the reform means

<ul style="color:#222222; font-family:Arial, Helvetica, sans-serif; font-size:small; font-style:normal; font-variant-ligatures:normal; font-weight:400; text-align:start; white-space:normal; background-color:#ffffff; text-decoration-thickness:initial; text-decoration-style:initial; text-decoration-color:initial">
	<li style="margin-left:15px; font-family:Aptos, Arial, Helvetica, sans-serif; font-size:12pt; color:#000000">Proven at scale:&nbsp;Decennial cover has operated in NSW since 2022, protecting thousand of apartments.</li>
	<li style="margin-left:15px; font-family:Aptos, Arial, Helvetica, sans-serif; font-size:12pt; color:#000000">10 years of cover:&nbsp;Protection for major structural defects runs for a decade from completion, claimable directly and with no legal action required.</li>
	<li style="margin-left:15px; font-family:Aptos, Arial, Helvetica, sans-serif; font-size:12pt; color:#000000">An alternative to the bond:&nbsp;Eligible developers can meet their statutory obligation with an approved decennial-style policy in place of the 2% strata building bond.</li>
	<li style="margin-left:15px; font-family:Aptos, Arial, Helvetica, sans-serif; font-size:12pt; color:#000000">Part of a national shift:&nbsp;The ACT has had decennial provisions in force since 2025 and Victoria passed its framework in June. NSW now joins them.</li>
	<li style="margin-left:15px; font-family:Aptos, Arial, Helvetica, sans-serif; font-size:12pt; color:#000000">No-fault, first resort:&nbsp;Owners corporations claim directly from the insurer without first having to establish who is liable for the defect.</li>
	<li style="margin-left:15px; font-family:Aptos, Arial, Helvetica, sans-serif; font-size:12pt; color:#000000">Cost-competitive:&nbsp;At approximately 1.8% of build cost, LDI is typically priced below the 2% bond while offering broader, longer protection.</li>
	<li style="margin-left:15px; font-family:Aptos, Arial, Helvetica, sans-serif; font-size:12pt; color:#000000">Market position:&nbsp;Resilience originated LDI in Australia and has delivered it in NSW since 2022.</li>
</ul>

Fast Facts: What is Resilience LDI?

<ul style="color:#222222; font-family:Arial, Helvetica, sans-serif; font-size:small; font-style:normal; font-variant-ligatures:normal; font-weight:400; text-align:start; white-space:normal; background-color:#ffffff; text-decoration-thickness:initial; text-decoration-style:initial; text-decoration-color:initial">
	<li style="margin-left:15px; font-family:Aptos, Arial, Helvetica, sans-serif; font-size:12pt; color:#000000">Resilience Latent Defects Insurance (LDI):&nbsp;Covers major structural defects for 10 years from completion.</li>
	<li style="margin-left:15px; font-family:Aptos, Arial, Helvetica, sans-serif; font-size:12pt; color:#000000">Consumer-first:&nbsp;Direct claim access, no need for lengthy legal action.</li>
	<li style="margin-left:15px; font-family:Aptos, Arial, Helvetica, sans-serif; font-size:12pt; color:#000000">Cost advantage:&nbsp;At approximately 1.8% of build cost, LDI is typically priced below the traditional 2% Strata Bond while offering broader protection.</li>
	<li style="margin-left:15px; font-family:Aptos, Arial, Helvetica, sans-serif; font-size:12pt; color:#000000">Market leader:&nbsp;&nbsp;Resilience Insurance originated LDI in Australia and is the national market leader.</li>
</ul>

Joel Robinson

NSW parliament passes 10-year defect insurance laws for new apartment buyers

Developer <a href="https://www.apartments.com.au/developers/drew-group">Drew Group</a> is wasting little time following the completion of Lagoon Main Beach, lodging plans for another high-rise apartment development less than two kilometres away at the northern end of Surfers Paradise.

Drew Group, led by local developer Jon Drew, is pitching for a 32-storey residential tower at 180–184 Ferny Avenue, replacing three low-rise buildings on a prominent 1,055 sqm corner site just 150 metres from the beach.

Drew called on architecture firm&nbsp;<a href="https://www.apartments.com.au/architects/bda-architecture">BDA</a>&nbsp;to design the new slender tower, which will have 130 apartments. BDA drew on the inspiration of legendary architect Frank Lloyd Wright's philosophy of organic architecture, which seeks "a superior sense of use and a finer sense of comfort, expressed in organic simplicity."

"The design creates a seamless dialogue between built form, natural elements, and the iconic Surfers Paradise context," BDA wrote in the application recently submitted to the Gold Coast City Council.<img alt="First look: Drew Group eyes next Gold Coast tower after completing Lagoon Main Beach" data-entity-type="file" data-entity-uuid="5dcaa84d-67ba-4e22-b8f1-208ca5056b05" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/surfers%20paradise%20da.png?VersionId=Ah9oBOlL0ofC5eboXSI.dEq9VRfEnFaT" />

BDA also drew inspiration from New York's iconic Flatiron Building, with softened curved corners responding to the geometry of the triangular site. While referencing the 1902 Manhattan landmark, the design reinterprets its distinctive form through a contemporary coastal lens.

Drew is targeting the Gold Coast's "missing middle" market, a segment that has arguably been underserved in recent years. The project is weighted towards owner-occupiers, with 104 two-bedroom apartments complemented by a further 26 one-bedroom residences.

Resident amenity will be centred on the level five podium, featuring a resident lounge, gym, yoga room, steam room, sauna, lap pool with a lagoon area, spa, cold plunge and magnesium plunge.&nbsp;

Additional resident facilities will occupy the rooftop, including work-from-home spaces, a meeting room, resident lounge with a full kitchen, bar and dining area, as well as a dedicated wellness zone with additional plunge pools, steam rooms and saunas.

<img alt="First look: Drew Group eyes next Gold Coast tower after completing Lagoon Main Beach" data-entity-type="file" data-entity-uuid="a1392ad9-620b-41f9-957d-b1fcec13613f" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/surfers%20da%20podium.png?VersionId=9kDudIwvCaZFW6F8IyXGP6wQg0B_VS3E" />

The application follows the completion of Drew Group's Lagoon Main Beach, which only has around four apartments left to sell after a successful sales and marketing campaign.

Built by Hutchinson Builders, Lagoon comprises 248 apartments and was popular with local owner-occupiers and interstate buyers.

First look: Drew Group eyes next Gold Coast tower after completing Lagoon Main Beach

Builder-developer <a href="https://www.apartments.com.au/developers/mcnab-developments">McNab</a> has wasted little time reshaping one of South Brisbane's most significant undeveloped apartment sites after acquiring the property earlier this year.&nbsp;

McNab has lodged plans to scrap an existing approval for two 30-storey towers and instead deliver a single 28-storey residential building, preserving part of the site for a future development opportunity.

The proposal, lodged over <a href="https://www.apartments.com.au/new-apartments/64-peel-street-south-brisbane-qld-4101">64 Peel Street and 9 Cordelia Street</a>, is for a residential-led mixed-use development comprising 124 apartments above a landscaped podium, alongside a boundary realignment that preserves part of the land for a future residential project.

<img alt="First look: McNab resets decade-old South Brisbane approval with 124-apartment tower" data-entity-type="file" data-entity-uuid="743bf564-3f8f-45fc-b8d3-bbf18f5b628f" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/mcnab%20Peel%20st%20podium.png?VersionId=EhCxGrVn_VFH3qTbKnI4WppGwaMnOn0t" />

Designed by <a href="https://www.apartments.com.au/architects/hayball">Hayball</a>, the development will deliver 119 two-bedroom and five three-bedroom apartments across 23 residential levels. A five-level podium will accommodate 135 car spaces, while the ground floor will include a 66 sqm commercial tenancy, an activated residential lobby with work-from-home spaces, and a publicly accessible landscaped plaza linking Cordelia and Peel streets.&nbsp;

Communal amenities will span Level 6 and the rooftop, including indoor and outdoor recreation spaces, a swimming pool, barbecue facilities, kitchen and dining areas, lawn space, sauna, steam room and yoga facilities.

The application also proposes a boundary realignment to create a standalone 1,290 sqm development lot while retaining an adjacent parcel for future redevelopment, allowing the balance of the site to contribute additional housing over time.

Hayball said the architecture has been shaped by the site's elevated corner position at the intersection of Peel and Cordelia streets and Brisbane's subtropical climate.

The design incorporates generous landscaped setbacks, a masonry podium wrapped with planting, large north-facing balconies, and a slender tower profile intended to maximise natural light, cross ventilation and long-range views. The rooftop has been conceived as a wellness-focused retreat overlooking Brisbane, with amenities positioned to capture views towards Mount Coot-tha and the CBD.

<img alt="First look: McNab resets decade-old South Brisbane approval with 124-apartment tower" data-entity-type="file" data-entity-uuid="c5f99e84-6ad8-4a87-82d1-869685b754d2" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/mcnab%20tower%20perspective.png?VersionId=Gw0IuJaSAlk.tvGBxInhZOcQAdIB..2b" />

The planning submission positions the proposal as a response to both changing market conditions and Brisbane's Kurilpa Sustainable Growth Precinct planning reforms.

McNab acquired the site after the previous approval was granted, with the existing scheme no longer reflecting current residential market demands, economic conditions, construction challenges, construction efficiencies or the quality of development outcome now being pursued, the planning report noted.

McNab continues to expand its residential development pipeline across Brisbane and the Gold Coast. The developer recently launched The Tannery in West End, securing more than 60 per cent of apartments before the project's public release. It is also delivering Elements Budds Beach in Surfers Paradise and Lucia Highgate Hill, an eight-apartment boutique development overlooking the Brisbane River.

McNab resets decade-old South Brisbane approval with 124-apartment tower

A steeply sloping Bellevue Hill site is set to accommodate a new mid-rise apartment development, with plans lodged for 20 homes that respond to the site's dramatic topography.

The proposal for the consolidated land at <a href="https://www.apartments.com.au/new-apartments/138a-140-bellevue-road-bellevue-hill-nsw-2023">138A-140 Bellevue Road</a> has been designed by Sydney architecture practice Common Office, which has used the site’s substantial fall to distribute the building’s scale and unlock 20 apartments without presenting the full height to the street.&nbsp;

“The unique design strategy leverages the site’s substantial topographical fall to facilitate increased density, presenting a seven-storey profile to Bellevue Road while rising to 10 storeys at the rear,” Common Office said in its architectural design report.

The apartment mix spans one, two, three- and four-bedroom residences. Four two-bedroom apartments are designated as affordable housing, while the plans also include two adaptable dwellings. The mix is majority three-beds, with the typical three-bed apartment offering around 144 sqm internally, with balconies of around 15 sqm.

The affordable housing component represents 15 per cent of the residential floor area and allows the project to access additional height and floor space under the NSW Government’s in-fill affordable housing provisions. The site also falls within the inner area of the Low and Mid-Rise Housing Policy because it is within 400 metres walking distance of Double Bay Town Centre.

<img alt="First Look: Plans lodged for topography-led affordable housing project in Bellevue Hill" data-entity-type="file" data-entity-uuid="b1230d0f-3bfa-4a11-abaf-0928c66ef345" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Bellevue%20da.png?VersionId=dZeMK3P.OutGjN8ycjsxm8uNsj_QFWQv" />

Common Office has arranged the building around a masonry podium and a lighter upper volume, drawing on two recurring elements of Bellevue Hill’s established architecture: sandstone bases and the vertical proportions of local Inter-war Art Deco apartment buildings.

“The proposal is governed by a holistic design language that reconciles the solid horizontal masonry of the neighbourhood’s podiums with the elegant verticality of its Art Deco heritage,” the architect said.

“The building maintains a consistent rhythmic logic utilising deep recesses and a sophisticated material transition to break down the 10-storey scale into a series of articulated, human-scale volumes.”

<img alt="First Look: Plans lodged for topography-led affordable housing project in Bellevue Hill" data-entity-type="file" data-entity-uuid="0147f503-1af1-4d51-97fb-c2f1cba63a9d" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Bellevue%20bldg.png?VersionId=GoW7q3NlK67OpnePXhk7zvklrlKb72Qc" />

Large-format sandstone tiles will define the lower levels, establishing a robust base that negotiates the change in elevation from Bellevue Road. Above, red-tinted precast concrete frames, recessed balconies, anodised aluminium screens and expanded metal details will create a more vertically expressed façade. Integrated planter beds will introduce greenery across balcony edges and recessed sections of the building.

The elongated northern façade has been divided into three recessed vertical masses to reduce its perceived length. Triangular window elements and metal privacy screens reference the geometry of nearby Art Deco buildings while controlling overlooking toward surrounding homes. The southern elevation will incorporate further privacy screening, landscaped edges and deep balconies to maintain light and ventilation.

<img alt="First Look: Plans lodged for topography-led affordable housing project in Bellevue Hill" data-entity-type="file" data-entity-uuid="e8679cf1-18bc-4447-8a0f-0052b94ab83c" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Bellevue%20da%20rooftop.png?VersionId=5SQqQqRFf76rvE2p1TbxJSweMN70AIbc" />

Private and communal landscaping is distributed throughout the development. A landscaped garden apartment is positioned within the lower portion of the site, while a communal terrace on Level 5 will include a central timber deck, barbecue facilities, resident planting plots and areas for outdoor dining and informal gatherings.

Common Office described the terrace as an elevated sanctuary designed to capture district views and sunlight. Its planting strategy incorporates endemic species associated with the Eastern Suburbs Banksia Scrub, extending the landscape vertically through the building and providing habitat for local flora and fauna.

A second communal outdoor area is proposed at roof level, with built-in seating, paved gathering areas and perimeter planting.

Bellevue Hill is enjoying renewed momentum in the new apartment market, with several boutique developments recently launched and currently under construction. Positive Investment Enterprise is delivering the 16-apartment Kew Palm House on Birriga Road, while Chanine Developments is also under construction at Florian, a 36-apartment project on Banksia Road.

&nbsp;

Bellevue Hill is enjoying renewed momentum in the new apartment market, with several boutique developments recently launched and currently under construction.

First Look: Apartment development pitched for Bellevue Hill, Double Bay fringe

South Brisbane's apartment pipeline continues to build momentum, with <a href="https://www.apartments.com.au/developers/trk-property-group">TRK Property Group</a> lodging plans for a 161-apartment tower on Montague Road as developers accelerate investment across the Kurilpa Sustainable Growth Precinct.

The proposal for 176–186 Montague Road would replace an existing office building with a 20-storey residential tower designed by <a href="https://www.apartments.com.au/architects/cox-architecture">COX Architecture</a>, adding to a growing pipeline of high-density projects reshaping one of Brisbane's fastest-evolving inner-city precincts.

The project has been conceived as a "living building", featuring a flowing tower form, extensive vertical landscaping, and generous communal spaces that respond to the evolving Kurilpa Sustainable Growth Precinct.

TRK Property Group Development Director Matt Kan said the project reflected the confidence developers have in South Brisbane's long-term future.

"South Brisbane is entering an incredibly exciting period, and we see Montague Road sitting right at the heart of that evolution," Kan said.

"With the former Visy site directly opposite us and significant investment planned throughout the broader Kurilpa precinct, there is a real sense of momentum around this part of the city and what it will become over the coming years.

"For TRK, this is an opportunity to be part of that next chapter and deliver a project that responds to where the precinct is heading, while contributing to the continued evolution of Brisbane's river edge."

<img alt="First look: TRK Property joins South Brisbane apartment surge with Montague Road tower plans" data-entity-type="file" data-entity-uuid="590fe1ad-f892-4446-a679-80e33a16d029" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/TRK%20tower%20facade.png?VersionId=uOJStrcKpyHFcPE1w6_9SMAFzVMCcZll" />

The scheme includes a mix of one, two, three and four-bedroom apartments, incorporating multi-purpose rooms in selected residences to provide additional flexibility for home offices or expanded living areas. The proposed mix comprises 15 one-bedroom, 13 one-bedroom plus MPR, 73 two-bedroom, 26 two-bedroom plus MPR, 30 three-bedroom, and four four-bedroom apartments.

Rather than adopting a conventional rectilinear tower, COX Architecture has developed a sculpted form inspired by the movement of the Brisbane River.

"The proposal has been designed by COX Architecture as a 'living building' that responds to the site's riverine setting, floodplain history and evolving urban context within the Kurilpa Sustainable Growth Precinct," the planning report states.

"The architectural form draws from the fluid nature of the Brisbane River, with a curved and undulating tower form that creates a varied architectural edge and avoids a conventional rectilinear tower expression."

The podium has also been designed as an architectural feature rather than a conventional parking structure, with cascading planting, screening and natural-toned materials softening its appearance. Resident parking is elevated above ground level to address the site's flood constraints, while habitable apartments sit above flood planning levels. Upper-level communal facilities are designed to accommodate shelter-in-place arrangements during major flood events.

<img alt="First look: TRK Property joins South Brisbane apartment surge with Montague Road tower plans" data-entity-type="file" data-entity-uuid="01fa15d0-90df-46c7-9555-7941fc45373c" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/TRK%20podium.png?VersionId=mHyua.w1pHGBt9qEdWzrlsv.leztUCwO" />

Communal amenity is a major focus of the proposal. Around 1,815 sqm of shared resident space is proposed across the ground floor, level 19 and the rooftop, including co-working areas, indoor and outdoor recreation spaces, wellness facilities, dining and gathering areas, lawn spaces, a rooftop pool and spa, and extensive landscaping. At street level, a landscaped forecourt and approximately 345 sqm of publicly accessible open space along Montague Road are intended to improve the pedestrian experience while activating the building's frontage.

The development will provide 163 car spaces, including 152 resident bays and 11 visitor spaces, together with 144 bicycle spaces incorporating resident storage, visitor parking, bicycle maintenance facilities and e-mobility charging infrastructure.

The site sits within one of Brisbane's fastest-changing inner-city precincts, less than two kilometres from the CBD and within easy reach of South Bank, West End, the Queensland Cultural Centre and extensive public transport connections. The Kurilpa Sustainable Growth Precinct planning framework is encouraging higher-density residential development to help meet Brisbane's housing supply targets while supporting walkable, transit-oriented neighbourhoods.

Glenn Dwyer

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