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Rockybah, a 3400 acre grazing property at Nimmitabel in the Monaro district of southern New South Wales, has sold.
It was passed in at online auction on Wednesday afternoon at $2.45 million, then sold shortly afterwards to a local grazier for an undisclosed price.
Previously known as Brechnoch, <a href="https://www.realestate.com.au/property-livestock-nsw-nimmitabel-7891294" target="_blank">Rockybah</a> is located 13 kilometres south-west of the tourist village of Nimmitabel, and 50 kilometres south of the regional township of Cooma and its airport.
Rockybah has conducted a number of successful enterprises over the years, carrying up to approximately 6,000 DSE's of sheep and/or cattle, including the Kydrabah Murry Grey Stud, depending on the season.
The property is well equipped with farm improvements, including three stand woolshed, two sets of sheep yards, cattle yards, silo, workshop and machinery sheds and two wind turbines which are part of the Boco Rock Wind Farm Project.
There is also a three bedroom 1950s home on the property.
Chris Meares, from marketing agents Meares &amp; Associates, said the sale of Rockybah is a sign of the strong market conditions and high demand for quality grazing properties.
"There was genuine interest from overseas, city and local investors, the sale has also shown that the Monaro operates in its own ‘micro climate’ where the locals seem to remain dominant,” Meares said.
Shannon Ferguson from Fergusson Real Estate said Rockybah generated a lot of local interest.
"It seemed that locals were keen on adding to their existing operations,” Ferguson said.
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j.ballantyne1990-6AQqhLzZaK

Nimmitabel's Rockybah grazing property sold after online auction

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Mark Bouris, executive chairman of Yellow Brick Road, says borrowers need to vote with their feet.
"Quite simply, if the banks ratchet up rates and costs, go elsewhere and borrow from another lender," he wrote in his weekly Fairfax column.
He noted the property federal budget bank levy goes back to 2008, when a financial crisis was building and the four major trading banks – plus Macquarie Bank – wanted assistance from the federal government to stabilise our financial system.
"The government – actually, the taxpayer – guaranteed Australian deposits at deposit-taking institutions, up to $250,000.
"The banks also got a governmentguarantee over some bank debt and an ongoing facility up to $180 billion, which gave the banks access to very cheap debt.
"This new levy is 0.06 per cent of this government-guaranteed facility – it’s a very low charge for allowing banks to reduce their overseas borrowing costs and therefore, make bigger profits.
"So why would the bank charge you for giving it access to the cheapest capital?," he asked adding we’ll see what the banks decide to do – absorb the levy or pass it on.
He told borrowers there are only five banks being taxed with the levy.
"But have a look at a comparison website and you’ll see many lenders out there, from credit unions and building societies to small and regional banks, as well as loans offered by mortgage brokers and other financial services players.
"On any week, there can be a 1 per cent difference in interest rate between the lowest cost and most expensive standard variable mortgages.
"Why pay more than you should?"
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Mark Bouris says look for the 1 percent difference in available mortgage rates

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Regional localities in New South Wales are returning property investors with the highest gross rental yields across the state.
Figures show investors at the entry level of the market can still anticipate a gross rental yield of between 7 percent to 14 percent.
Broulee on the New South Wales south coast topped the list, with a gross rental yield of 14 percent, clearly buoyed by holiday lettings often at $1,200.
It comes with a median house price of $456,250.
There are some mining towns on the list too.
 
New South Wales highest-yield localities
<table border="0"><tbody>
<tr>
<td>Locality</td>
<td>Median Price</td>
<td>Quarterly growth</td>
<td>12-month growth</td>
<td>Weekly median advertised rent</td>
<td>Gross rental yield</td>
</tr>
<tr>
<td>Broulee</td>
<td>$456,250</td>
<td>3%</td>
<td>4%</td>
<td>$1,200</td>
<td>14%</td>
</tr>
<tr>
<td>Bawley Point</td>
<td>$562,750</td>
<td>1%</td>
<td>16%</td>
<td>$1,395</td>
<td>13%</td>
</tr>
<tr>
<td>Broken Hill</td>
<td>$106,000</td>
<td>6%</td>
<td>-4%</td>
<td>$230</td>
<td>11%</td>
</tr>
<tr>
<td>Malua Bay</td>
<td>$470,000</td>
<td>6%</td>
<td>7%</td>
<td>$1,000</td>
<td>11%</td>
</tr>
<tr>
<td>Sussex Inlet</td>
<td>$420,000</td>
<td>2%</td>
<td>14%</td>
<td>$875</td>
<td>11%</td>
</tr>
<tr>
<td>Warialda</td>
<td>$142,500</td>
<td>3%</td>
<td>-3%</td>
<td>$240</td>
<td>9%</td>
</tr>
<tr>
<td>Wellington</td>
<td>$141,000</td>
<td>-3%</td>
<td>4%</td>
<td>$228</td>
<td>8%</td>
</tr>
<tr>
<td>Tomakin</td>
<td>$409,000</td>
<td>4%</td>
<td>14%</td>
<td>$650</td>
<td>8%</td>
</tr>
<tr>
<td>South Kempsey</td>
<td>$163,750</td>
<td>1%</td>
<td>-17%</td>
<td>$260</td>
<td>8%</td>
</tr>
<tr>
<td>Tuross Head</td>
<td>$405,000</td>
<td>7%</td>
<td>17%</td>
<td>$635</td>
<td>8%</td>
</tr>
</tbody></table>
A <a href="https://www.realestate.com.au/property-house-nsw-broulee-125533490" target="_blank">three bedroom home in Broulee</a> (above) is on the market for $540,000.
It last traded for $59,000 in 1993.
A <a href="https://www.realestate.com.au/sold/property-villa-nsw-broulee-124806938" target="_blank">three bedroom</a> villa in Broulee (below) sold for $430,000 in March.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/05/29/41A%20Train%20Street.jpg" alt="">
A <a href="https://www.realestate.com.au/property-house-nsw-broulee-420868482" target="_blank">three bedroom home</a> (below) that last sold for $357,000 in 2015 is up for lease at $380 a week, offering a five percent yield.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/05/29/Broulle.jpg" alt="">
A three bedroom <a href="https://www.realestate.com.au/property-house-nsw-broulee-415537219" target="_blank">holiday home</a> in Broulee can rent up to $1,800 a week during peak holiday season.
It last traded for $175,000 in 2011.
For the median price at Broken Hill a two bedroom home such as the one at <a href="https://www.realestate.com.au/sold/property-house-nsw-broken+hill-122329398" target="_blank">140 Bromide Street</a> (below) that was sold for $107,000.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2016/11/24/140%20Bromide%20Street.jpg" alt="">
 
 
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Holiday lettings puts Broulee atop NSW's top 10 regional rental yield locations 

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Treasurer Scott Morrison had said before the budget that it would be a budget that remembers the renter, but very little was said during its presentation on May 9 except that the government was working with state and territory governments to “standardise use of long-term leases”.
It said the measure would provide “more security for renters”. 
But in practice, there is no increase in rent assistance to help low-income renters in the private rental market.
For the majority of Australia’s renters, housing will remain unaffordable, insecure and out of reach, according to Emma Power, a senior Research Fellow at Western Sydney University.
Morrison had said before the budget that, “You have got to remember that over 30% of Australians actually live in homes that are rented, and when people are finding it hard to get into the housing market that puts a lot more pressure on the rental market.”
Affordable housing has an important place in the housing system. However, below-market rents in central, work-rich regions are still extremely high and out of reach for many.
Of more concern, it is unlikely that many of these lower-income workers would be able to maintain their high rents at retirement. This generates two risks:
<ul>
<li>that the renter is evicted and forced to find housing on the private market, which puts them at high risk of homelessness</li>
<li>that the housing provider continues their commitment to house the tenant securely once their income drops, so the risk here is to the housing provider’s bottom line.</li>
</ul>
They will face a loss of income, as they drop rents from 80 percent of market value to around 30 percent of the retired person’s pension. 
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Few measures in budget to help renters

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The federal budget announced that an affordable housing bond aggregator would be created to raise money at lower rates from the wholesale bond market for not-for-profit community housing providers.
The government will provide $63.1 million over four years from 2017-18 (including $4.8 million in capital) to establish and run The National Housing Finance and Investment Corporation (NHFIC).
The NHFIC is based on the bond aggregator models of Australian Housing and Urban Research Institute Limited that were presented to federal, state and territory Treasurers in a report of the Affordable Housing Working Group (AHWG) late last year, according to AHURI’s website.
It has compiled a list of new measures for housing and homelessness featured in the 2017 budget.
The final details of the NHFIC will be determined following advice from the Affordable Housing Implementation Taskforce, due by mid-2017 with the corporation to start operations from July 1, 2018.
The budget announcement “is safe policy territory and sound strategy,” according to Honorary Associate Professor, RMIT University’s Julie Lawson whose post was carried by Property Observer. 
The social housing sector and all major parties have supported housing bonds and a special-purpose intermediary since the 2015 report of the Senate Inquiry into Housing Affordability, Lawson said.
The NHFIC will also administer the National Housing Infrastructure Facility (NHIF) that will, over five years, provide $1 billion to support local governments finance critical infrastructure such as transport links, site remediation works and power and water infrastructure needed to speed up the supply of new housing.
Concessional loans totalling $600 million, equity investments worth $225 million and $175 million in grants will be made to local governments through state and territory governments.
The 2017 Budget also replaces the National Affordable Housing Agreement (NAHA) between the Commonwealth, states and territories with a new National Housing and Homelessness Agreement (NHHA) to operate from July 1, 2018.
The NHHA will combine funding currently allocated under the National Affordable Housing Specific Purpose Payment (NAHSPP) and the National Partnership Agreement on Homelessness (NPAH).
It will target jurisdiction-specific priorities including supply targets, planning and zoning reforms and renewal of public housing stock while also supporting the delivery of frontline homelessness services.
Funding for both the housing and homelessness sectors will be ongoing and indexed, with the Commonwealth contributing $4.6 billion to the NHHA between 2018 and 2022.
As part of this funding, the government will provide $375.3 million over three years from 2018–19 to fund ongoing homelessness support services, with funding matched by the states and territories.
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AHURI research supports Budget 2017's affordable housing finance model

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The residential market at Tamworth is rising, according to Herron Todd White’s latest report.
The property valuation firm says that there has been notable increases in vacant land values.
“Tamworth is currently experiencing a rising market with notable increases in vacant land values, sale prices for established homes and a strong demand for housing.
"New and established homes within sought after suburbs are where the strongest growth and demand is being seen.
"While there are still plenty of sales occurring within the less desirable suburbs there has been less growth with some re-sales within 12 months increasing very little ($5,000 to 10,000) or staying the same if the property condition is worse than on the initial purchase.
"Over the past 12 months we have seen vacant land values continue to rise.
"Within the suburb of Calala a block worth $120,000 last year is now selling for $140,000 plus.
"The demand for prestige homes within East Tamworth is also showing signs of rising as properties over the $1 million mark are selling within shorter time periods and for higher prices,” the report stated.
Herron Todd White says that affordability and employment are the two main factors in Tamworth’s rising market.
“The two factors driving the Tamworth market are affordability and employment.
"With strong professional, agricultural and commercial industries, there is plenty of employment opportunity within a range of fields.
"Along with the ability to find a job, housing is comparatively cheap with a comfortable 4-bedroom, 2-bathroom family home able to be purchased for $400,000.
"There is certainly a trend of families making the country change to Tamworth where they can afford a family home while still having a large employment market.
"The market has being doing well lately due to the affordability of housing for both owner occupiers and investors.
"The 2016/17 financial year has been good for the agricultural industry, with good rain resulting in favourable seasons for farmers, which in turn encourages them to spend and others to invest in the industry, resulting in further employment opportunities."
The veers noted the expansion of the hospital was also helping with an increase in the number of staff required.
"If the market continues on its current path, the increase in people moving to the town along with the increase in employment due to the expansion and establishment of businesses will see Tamworth experience several more years of strong growth,” the report advised.
Tamworth would be at risk of a declining market if the current demand for vacant land were to be overwhelmed by the supply and if the local commercial and rural industries were to suffer a decline due to drought or a skills shortage.
A four bedroom house at <a href="https://www.realestate.com.au/property-house-nsw-tamworth-125452926" target="_blank">316 Back Kootingal Road</a>, Tamworth (above) has been listed for $410,000.
Similarly a four bedroom house at <a href="https://www.realestate.com.au/property-house-nsw-tamworth-125314666" target="_blank">15 Grand Meadows Drive</a>, Tamworth (below) has been listed for $445,000.
The block of land was last sold in 2013 for $98,000.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/05/16/15%20Grand%20Meadows%20Drive.jpg" alt="">
A two bedroom unit at <a href="https://www.realestate.com.au/sold/property-unit-nsw-tamworth-125143282" target="_blank">2/3-5 Piper Street</a>, Tamworth (below) was recently sold for $244,000.
It last sold in 2007 for $187,000 and in 1994 for $113,000.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/05/16/2_3-5%20Piper%20Street.jpg" alt="">
Similarly a four bedroom house at <a href="https://www.realestate.com.au/sold/property-house-nsw-tamworth-123711874" target="_blank">23 Verdelho Drive</a>, Tamworth (below) was recently sold for $539,000.
The block of land was last sold in 2012 for $98,000 and the house was built in the same year.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/05/16/23%20Verdelho%20Drive.jpg" alt="">
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Tamworth residential market continues to rise: HTW

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A one bedroom unit at Sunshine sold for $245,000 making it Melbourne’s most cheapest weekend auction sale.
Located at <a href="https://www.realestate.com.au/sold/property-unit-vic-sunshine-124099310" target="_blank">4/136-140 Wright Street</a>, the property was offered through Douglas Kay Real Estate agents Adrian Kay and Anthony Caccamo.
The adjoining villa sold for $242,000.
They both sold at $67,500 in 2001.
The median price of one bedroom units in Sunshine is $270,000, with the sale $25,000 short of the median price.
The median price of units overall in Sunshine is $352,500 while houses have a median price of $700,000.
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One bedroom Sunshine unit sold for $245,000

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Commercial property sales in the Docklands have decreased in number and in total sales value, according to CoreLogic’s Cityscope.
For the quarter to January 2017, there were eight sales at a total sales value of $78.8 million, compared to 10 sales at a total value of $186 million for the previous quarter, said the property data firm. 
The yearly figures have declined in number and total value, with 37 sales at a total value of $297.8 million for the twelve months to January 2017, compared to 51 sales at a total value of $524.6 million for the previous year.
The table below shows sales recorded for the past eight updates of Docklands Cityscope.
<a href="https://www.propertyobserver.com.au/images/2017/02/02/Corelogic-1.jpeg" target="_blank">Click to enlarge</a>
<img src="https://www.urban.com.au/images/2017/02/02/Corelogic-1.jpeg" alt="">
Notable sales in the January 2017 update of Docklands Cityscope include:
<ul>
<li>The Gauge at 825 Bourke Street, an eight-storey office building completed in 2008 and with a net lettable area 10,362 sqm, which sold for $72.7 million through Colliers International and</li>
<li>Unit 13 in The Palladio at 42 Newquay Promenade, a 323 sqm retail area on the south-western corner of the property, a series of integrated buildings with ground floor retail units and apartments above, which was bought for $2 million through MP Burke Commercial – Melbourne.</li>
</ul>
<a href="https://www.propertyobserver.com.au/images/2017/02/02/Corelogic-2.jpeg" target="_blank">Click to enlarge</a>
<img src="https://www.urban.com.au/images/2017/02/02/Corelogic-2.jpeg" alt="">
Properties listed as for sale in the January 2017 update of Docklands Cityscope include:
<ul>
<li>Shop 1 at 439 Docklands Drive, a 200-sqm retail premises on the ground floor of the west building available with an asking price of $1.8 million through No Agent Property – Moorabbin;</li>
<li>Suite 815 at 401 Docklands Drive, a commercial unit on the east corner of level 8, Suite 816, 401 Docklands Drive, a commercial unit on the west corner of level 8, Suite 817, 401 Docklands Drive, a commercial unit on the east corner of level 8 and Suite 818, 401 Docklands Drive, a commercial unit on the south-east corner of level 8 available together through Colliers International – Geelong.</li>
</ul>
Leasing opportunities listed in the January 2017 update of Docklands Cityscope include:
<ul>
<li>737 Bourke Street, an 11-storey building completed in late 2008, comprising 16,000 sqm of office space and 1,100 sqm of retail premises plus basement car parking for 231 cars, has 1,300 to 1,345 sqm for lease through CBRE – Melbourne and Investa Property Group;</li>
<li>The Gauge at 825 Bourke Street, an eight-storey office building completed in 2008 with ground floor car parking, has office space of 335 to 1,508 sqm for lease through CBRE – Melbourne and</li>
<li>380 Docklands Drive, an A-Grade, 11-storey office building with parking, has office space of 1,000 sqm for lease Colliers International – Melbourne and CBRE – Melbourne.</li>
</ul>
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Docklands commercial property sales down in value and number: Cityscope

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The 2017 retail market on the Sunshine Coast will likely continue in the same vein as the past six months, according to Herron Todd White’s recent report.
The property valuation firm says that the following things will most likely occur:
<ul>
<li>Demand for sub $2 million well leased retail properties is likely to remain strong.</li>
<li>Supply of these properties should remain tight with owners having few reasons to sell.</li>
<li>Demand for properties over this level are highly dependant upon tenant strength, however we are seeing transactions occur for older premises with either redevelopment potential or the potential to refurbish and re-let.</li>
<li>Vacancy levels in the prime locations of Hastings Street, Mooloolaba Esplanade, Cotton Tree and David Low Way, Coolum Beach are expected to remain tight. Rental rates in these areas may experience upward pressure.</li>
<li>Within the bulky goods market, vacancy levels are decreasing after significant supply added during 2015 and 2016.</li>
</ul>
Recent transactions in the market include:
<ol>
<li>Tewantin Woolworths for $17.3 million at a yield of 5.76% in November 2016.</li>
<li>Subway Maroochydore for $1.46 million at a yield of 5.63% in November 2016.</li>
<li>Retail Strata, Mooloolaba Esplanade at $1.55 million, yield of 7.41%, transacted December 2016.</li>
<li>Bulky Goods Strata, Noosaville for $4.2 million, yields 7.32%, deal struck November 2016.</li>
</ol>
The Point, Buddina is a 2,500 square metre retail development comprising 15 tenancies ranging in size from 12 square metres to 680 square metres.
Asking rentals range from $450 to $1,800 per square metre net per annum. Construction has commenced with some pre-leasing commitments achieved.
"The only caution in the market remains that as yields compress, whether there is a big enough yield differentiation between primary and secondary assets," the report said.
The retail sector in Gladstone for 2017 is forecast to continue at a similar pace to 2016, with rationalisation of rentals to more affordable and maintainable levels for local retailers and continued high vacancy levels in secondary locations.
“We do not consider this is likely to change pace until there is commencement of substantial new local projects,” the report stated.
Whilst there is still no announced start date for the Stockland redevelopment (approved in 2014), some positive news to the retail sector is the opening of the new Aldi store on the corner of Boles Street and Breslin Street.
The store is set to open in early March. Property sales activity is likely to remain slow.
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Sunshine Coast's retail market has strong appetite for sub-$2 million properties: HTW 

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Office vacancy in Sydney's Chatswood is expected to increase throughout 2017 as a number of whole floor opportunities enter the market, according to Colliers International’s latest Metro Office report.
It noted Leighton vacated 799 Pacific Highway and Lendlease will be relocating to Barangaroo from The Zenith.
Vacancy has already increased from 6.6 per cent to 7.7 per cent in the six months to January 2017 with negative net absorption of -3,310 sqm.
"As a result we expect incentives to remain stable throughout 2017,” the report stated.
A Grade property rents have increased slightly over the last six months, Colliers says.
“In the six months to March 2017 average A Grade net face rents increased marginally at 1.5 per cent settling at $510 per sqm, while incentives increased from 24 per cent to 25 per cent as a result of increased vacancy.
"We expect to see owners splitting floors and offering speculative fit-outs to drive demand in the sub 500 sqm range as heightened competition remains for whole floor space. The Zenith is already seeing success with this strategy,” the report said.
A 86 sqm office at <a href="https://www.realcommercial.com.au/property-offices-nsw-chatswood-502363334">47 Neridah Street</a>, Chatswood (above) has been listed for $825,000.
Similarly, a boutique freehold office at <a href="https://www.realcommercial.com.au/property-offices-nsw-chatswood-502252494">754 Pacific Highway</a>, Chatswood (below) has been listed for sale.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/05/02/754%20Pacific%20Highway.jpg" alt="">
A 247 sqm office at <a href="https://www.realcommercial.com.au/property-offices-nsw-chatswood-502192670">2/9 Railway Street</a>, Chatswood (below) was recently sold in April.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/05/02/29%20Railway%20Street.jpg" alt="">
Similarly a 118 sqm office at <a href="https://www.realcommercial.com.au/property-offices-nsw-chatswood-502174514">Suite 603, 7 Help Street</a>, Chatswood was recently sold in April.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/05/02/Suite%20603%207%20Help%20Street.jpg" alt="">
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Office vacancy in Sydney's Chatswood expected to increase: Colliers

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

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.

TRK Property joins South Brisbane apartment surge with Montague Road tower plans

Article summary

<ul data-end="785" data-start="311">
	<li data-end="459" data-section-id="5hbcyr" data-start="311">Pikos Group has released the five-penthouse collection at Skye Kangaroo Point, headlined by a two-storey sky home spanning more than 1,000 sqm.</li>
	<li data-end="561" data-section-id="1p7lq8n" data-start="460">Early buyer interest suggests the residences could set a new Queensland apartment price record.</li>
	<li data-end="667" data-section-id="1y70z0l" data-start="562">The collection includes four move-in ready penthouses and the highly customised Skye One residence.</li>
	<li data-end="785" data-section-id="yvm0y1" data-start="668">The release caps one of Bri​sbane's most ambitious luxury apartment developments overlooking the Brisbane River.</li>
</ul>

<hr data-end="790" data-start="787" />
Pikos Group has released the five-penthouse collection at its <a href="https://www.apartments.com.au/buildings/skye-residences-by-pikos-kangaroo-point-8-river-terrace-kangaroo-point-qld-4169">Skye by Pikos</a> development in Kangaroo Point, with early buyer interest indicating the flagship residences could eclipse every apartment sale previously recorded in Queensland.

The collection crowns the luxury riverfront development with five residences, including four completed penthouses and Skye One, a two-level sky home spanning more than 1,000 sqm that will be tailored to its eventual owner.

[smartcode_project:default project_id=90059 project_image_fid=374075]

Wanting to offer a fully customisable home, Pikos is offering Skye One as a blank canvas, allowing the buyer to work alongside the developer's design team to customise the home's layout, finishes and internal spaces.

The residence will feature a 247 sqm private rooftop terrace with its own swimming pool, sauna, steam room, outdoor kitchen and multiple entertaining areas overlooking the Brisbane River and CBD skyline.

The remaining four penthouses have been completed and are ready for immediate occupation, each offering four bedrooms, expansive open-plan living areas, soaring ceilings and private lift access.

[smartcode_project:default project_id=90059 project_image_fid=374059]

One of the defining features throughout the project is its use of Roman Classic Travertine, with more than 20,000 sqm of the natural stone imported from Italy after being personally selected by Pikos Group Founder and Executive Director Pedro Pikos, interior designer Julie Williamson and third-generation stone specialist Mario Caucci.

Pikos said the penthouse collection represented the culmination of the company's long-term vision for Skye.

"True legacy isn't measured by what we build today, but by what endures tomorrow," Pikos said.

"Our ambition is to create places that become more valuable with time, enrich the lives of generations, and stand as timeless landmarks long after we've stepped away."

[smartcode_project:default project_id=90059 project_image_fid=374060]

Williamson said the interiors were inspired by the natural character of Kangaroo Point and the Brisbane River rather than international design trends.

"Materiality tells the story of a place," Williamson said.

"We looked to the movement of the Brisbane River, the texture of the cliff face and the warmth of the surrounding landscape to create interiors that feel understated, enduring and unmistakably Brisbane."

Positioned above the Kangaroo Point cliffs, Skye places residents within walking distance of Howard Smith Wharves, South Bank and James Street while offering uninterrupted river and city views.

[smartcode_project_cta:default project_id=90059]

Staff reporter

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