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“Minister Chanthivong and his team have shown real leadership in replacing an outdated two-year bond with cover that matches the lifespan of the buildings people are buying into.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]

Brisbane's next apartment price record? Pikos unveils Skye's exclusive penthouse collection

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

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

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

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

Every First Home Owner Grant for new property by state

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

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

Staff Writer

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

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

alisonwarters@gmail.com

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

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

Ellen Walker

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

Prominent New Zealand apartment and hotel operator, <a href="/developers/safari-group">Safari Group</a>, is offering up a prime investment opportunity for Australians to purchase off the plan in one of the world’s most popular ski destinations.

They recently took to market Mountain Oak Queenstown Apartments, in the growing precinct of Remarkables Park in Frankton, near the airport and at the foot of The Remarkables - the mountain range the locals like to call “The Remarks”.&nbsp;

Sydney investors have shown interest in the one, two and three-bedroom apartments that secure high-season occupancy six months over the year, primarily over summer and winter months.

They average 90 per cent occupancy across their portfolio over January, February, March, August, November and December, while shoulder season months of April, July, September and October are still occupied 70 per cent of the time, with the growing appeal of Queenstown becoming not just a hotspot for the snow, but a lifestyle destination.

Even in the low seasons of May and June, occupancy levels reach around 40 per cent.

<img alt="Safari Group’s Mountain Oak Apartments brings new investment potential to Queenstown" data-entity-type="" data-entity-uuid="" src="https://res.cloudinary.com/dz9xllyip/image/fetch/f_auto,c_limit,w_1440,q_auto/https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/field/image/Ext_Cam15_Sunny.jpg?VersionId=SJAROUM_1s.Tr5ciMk4EEj5oAt_Vewmv" />

Safari’s Safari Hotels arm can also manage the holiday letting for an investor, from the listing on holiday accommodation websites such as Airbnb and Booking.com to the cleaning and maintenance of the investment. They’ve been in the short stay management business for 15 years and offer 24/7 support for investors, an important convenience benefit for any overseas investor

Another major drawcard for Australians is that New Zealand doesn’t have a stamp duty policy - so the entry price of NZ$639,000 (AU$586,000), is all that is payable on completion.

<img alt="Safari Group’s Mountain Oak Apartments brings new investment potential to Queenstown" data-entity-type="" data-entity-uuid="" src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,dpr_2.0,q_auto:good/https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/313_Livingv2_WEB.jpg?VersionId=nV229fM0ZeYpoxOrX372HyGjfwY_LR8c" />

Safari is starting construction of the 141 apartments in Q2 this year, with a two-year build estimated to complete in mid-to-late 2027.<img alt="" data-entity-type="" data-entity-uuid="" height="15" src="https://lh7-rt.googleusercontent.com/docsz/AD_4nXczFpFAb7WuA6f4f9TtKWcqXyNwR8qqtakWv352ERkpqNlP3KwIo8YKxw67jZNHfpjEGIZGv5MQTbnvLZwNt8iu9IVdOrswOjCvBZ4zhSoOOLrpt6etVEZTN1gkBho0r_R72zdHNA?key=yq3daOanqHSb88QFd8jGYKdb" title="Click and drag to move" width="15" />​

The apartments will feature modern amenities and contemporary designs with expansive windows capturing sweeping views of The Remarkables mountain range.&nbsp;

Interiors are equipped with modern finishes, premium appliances, and secure electronic key-locked doors, ensuring a comfortable living experience for residents and guests alike.

With its strategic location near Coronet Peak and Cardrona Alpine Resort, as well as key retail and dining precincts such as Market Street, Five Mile Shopping Centre, and Remarkables Market, Mountain Oak offers a strong proposition for investors seeking high rental yields and capital appreciation in one of New Zealand’s most sought-after locations.&nbsp;

Queenstown’s sustained demand for visitor accommodation and rental properties is underpinned by a shortage of housing options, attracting both local and international buyers.

Safari Group offers low-touch investment proposition in Queenstown’s popular ski fields district

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Employment has become a key issue for the ACT office market, with continued public service staff cuts and efficiency pressures resulting in a stagnated leasing market.
Estimates are that 10,000 – 14,000 public service jobs may be cut over the coming years, regardless of which political party comes to power following the September 2013 federal election. Given the concentration of public servants in Canberra, this is likely to have a significant ongoing impact on the local office market.
There is likely to be a short-term, six to 18 months, decline in confidence should the Liberals get elected. However, nationally the property mood will improve given some certainty.
For the vast bulk of public servants nothing will change however, confidence will be eroded until the look and feel of the new Government is established and there is likely to be some churn in our office market next calendar year as departments are re shaped/ badged.
If history is anything to go by, many jobs that are spilled will be replaced with consultant positions that will be handed back to the government. This may take six to 12 months.
Over the past three years the Canberra office market has seen the emergence of a two tier market, with an increasing price gap between A-grade and secondary stock. This is expected to continue as building owners struggle to secure long term tenancies in light of the Commonwealth’s desire to cut spending. This will place downward pressure on WALE’s and impact investor confidence.
The Canberra office market will remain soft. However, some of the new, never occupied office space that was built on-spec at the end of the last supply cycle, in 2010, may be taken up as it complies with the government’s sustainability needs and is ready to occupy.
Demand for new A-grade stock which meets key sustainability indicator targets, such as NABERS ratings, is likely to remain more stable, with rental levels for these properties expected to maintain their current levels.
Incentives will remain a large part of the rental landscape while total vacancies trend above 10%.
We expect that A-grade incentives will remain relatively steady over the next year. However, some further tightening is possible if A-grade vacancy levels fall further. This will have an improved effect on A-grade gross effective rents thereafter. Face rents however, are unlikely to have large upward growth over the next three years.
With the growing importance of NABERS ratings, owners of secondary stock will be faced with a decision of whether to upgrade or try and lease an asset in an environment of high secondary vacancy.
A further setback for these owners is the government’s announcement not to honour the $1 billion tax break for green initiatives (retro fit and refurbish) which was due to commence on the 1st of July 2012. The improvement in the secondary market will strongly lag the A-grade market, and as such incentives will maintain their current high for the medium term. Hence the defined division of this two tier market.
Efficiency savings have become an increasing issue for property owners and developers as Government has increased the efficiency dividends to 1.5% in late 2011 to aid in reducing costs to meet surplus. Further cuts are likely in the lead up the federal election in September 2013 and particularly afterwards, regardless of which party takes office.
These factors have led to a lack of demand for new space by the public sector and an increased appetite for fitted out premises and cheaper accommodation alternatives.
A lack of supply over the next 12 to 24 months, combined with an environment which is unlikely to facilitate any speculated stock in the near future, are considered to see the vacancy rate trend above 10% for the short term, before contracting slightly.
The airport is an anomaly in the Canberra market as a significant amount of space has been built over recent years and has not yet been occupied.
In regards to A-grade and B+ stock, rents are expected to remain stable however secondary space will continue to be challenging.
The local government needs to reset policy settings to provide a better framework for the refurbishment of conversion of older stock address this issue.
Investment activity in the Canberra Office market is likely to be limited for better quality assets as Insto and REIT’s look elsewhere for the short to medium term however the recent sale $151.7 m which should put some confidence back into Canberra’s A-grade asset market.
 
<hr>
 Steven Flannery is valuations director for <a href="https://www.knightfrank.com.au/en" target="_blank">Knight Frank</a>, Canberra
 
 
 
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How will the upcoming election impact the Canberra office market? Steven Flannery

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A rare development site in Adelaide's Riverbank precinct is up for sale with an asking price of about $6.75 million.
The 62 Hindley Street site, known as LC House, is owned by a hotel developer who purchased the property for about $6.5 million in 2010.
Selling agent, Knight Frank director Mr Tony Ricketts, said the property was primed for redevelopment and would suit retail, commercial, student accommodation, apartments and car parking.
“Major public investment in the CBD is creating the potential for new apartments, commercial and retail space and tourist accommodation, but few development sites are in a prime position like 62 Hindley Street," he said.
The 62 Hindley Street site covers 1,785 square metres with dual frontage onto Hindley and Blyth Streets.
Offers close today.
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Adelaide’s Riverbank precinct up for sale

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A local private investor has purchased an industrial property in Brisbane's Tingalpa at auction for $4.2 million.
The industrial property, at 40 Enterprise Place in Tingalpa, consists of 4,239 square metres of building, on a 6,610 square metre site.
Colliers International's Anthony White and Mathew Frazer-Ryan negotiated the sale on behalf of the vendor, Perpetual Trustee Company Limited.
Mr White said they received solid enquiry prior to the auction, with as many as 30 people attending and three serious parties bidding.
The new owner plans to undertake a small renovation of the Tingalpa property before putting it on the leasing market.
Built in 1995, the industrial facility has 3,946 square metres of industrial space and 293 square metres of office space.
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Private investor buys $4.2 million industrial property in Tingalpa, Brisbane at auction

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Advertising company The One Centre Group has taken a 275 square metre lease on the ground floor of the historic Company Director House building in Sydney's CBD.
The term of the ground floor lease, at 71 York Street, is for five years, with a gross rental of about $162,250 per annum.
Ray White Commercial office leasing directors John Skufris and Jeremy Piggin negotiated the lease.
Mr Skufris said the space was formerly a salon and day spa operation but was completely transformed "with the entire fit out removed, the ceilings exposed and the original timber floors sanded back to offer a strata-titled character space."
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The One Centre Group signs Sydney CBD office lease

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The Reject Shop will join a long line of blue-chip tenants that are moving into Adelaide's next major shopping mall - the Seaford Meadows shopping centre.
The discount retailer has taken 681 square metres of retail space in the yet-to-be built centre, which will be anchored by a Woolworths Supermarket and more than 14 speciality stores.
<img alt="seaford_meadows_sept_4_two" height="257" width="470" src="/images/stories/2013/09/04/seaford_meadows_sept_4_two.jpg">
Colliers International, in conjunction with Savills, has been appointed to manage the leasing of the centre.
“Chemist King and a liquor retailer have also been secured and negotiations are underway for the remaining tenancies," said co-leasing agent Ben Laycock of Colliers.
He said the centre's location, on the corner of Grant Boulevard and Bitts Road, was in the heart of the new Seaford Meadows neighbourhood development.
Construction of the new shopping centre is underway, with the mixed use development due for completion early 2014.
<img alt="seaford_meadows_sept_4_one" height="353" width="470" src="/images/stories/2013/09/04/seaford_meadows_sept_4_one.jpg">
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The Reject Shop taken in by Adelaide’s Seaford Meadows shopping centre

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Freight company Booth Transport has secured a six hectare site in Melbourne's Laverton North, in one of the biggest leasing deals in the city's west this year.
Booth will move into Kalari Transport’s former Laverton North headquarters on Fitzgerald Road, which comprises about 11,000 square metres of warehouse space.
Colliers International’s Nathan Bingham and Stephen Newsham negotiated the lease.
Year to date, it is estimated 110,000 square metres worth of industrial property above 3,000 square metres has been leased in Melbourne’s western precinct, which encompasses Laverton North, Derrimut, Truganina, Brooklyn, Altona and Sunshine.
“Colliers International’s Melbourne West office is currently handling a whopping 280,000 square metres of enquiry,” said Mr Newsham.
“Much of this leasing enquiry involves the awarding of third party logistics contracts whilst other deals are predominantly the result of companies restructuring their property requirements to lower costs and improve their overall efficiencies."
“Business expansion is also another common reason for relocation or the take-up of new space."
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Booth Transport secures six hectare lease in Melbourne’s west

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Some of Melbourne's most favourite retail high streets have experienced a significant jump in vacancies, most notably Bridge Road in Richmond.
The once popular discount fashion precinct, Bridge Road, recorded it's highest ever vacancy rate, according to the latest research from Knight Frank.
Vacancies along Bridge Road climbed to 16.5%, up from 11.5% a year earlier. And the research also showed that the strip had the highest churn rate at 11.9%, reflecting to the change of occupants.
Knight Frank Victorian research director, Richard Jenkins, said that Bridge Road’s loss of identity as a discount fashion destination as a result of the emergence of DFO centres had fuelled the rise in vacancy in recent years.
Other retail strips to record a spike in vacancy rates were Toorak Road in South Yarra, with vacancies nearly doubling to 12.8%; Glenferrie Road, Malvern rose from 3.6% to 6.2% while High Street, Armadale increased from 3% to 6.4%.
The emergence of online retailing was also partly blamed for fashion focused strips struggling.
But it wasn't all bad news for the high streets of Melbourne.
Burke Road in Camberwell; Puckle Street, Moonee Ponds; Acland Street, St Kilda; Clarendon Street, South Melbourne and Church Street, Brighton all experienced vacancy falls.
Mr Jenkins said the strips which recorded falls in vacancy rates all had a higher exposure to food and convenience based retailers, demonstrating the strength of the non-discretionary retail sector.
The Knight Frank research showed that Church Street in Brighton recorded a fall from 1.7% to 1.2%, as did Clarendon Street in south Melbourne, down from 6.2 % to 4.1%. Acland Street was stable at 2.8%.
Mr Jenkins said the outlook for many of those prime retail strips was "positive", pointing to new apartment developments coming on stream, "boosting the surrounding local population."
Rents in Chapel Street remain the highest, achieving rental levels of $1,000 per square metre per annum, whereas other strips such as Puckle Street, Moonee Ponds achieve rents of around $650 per square metre.
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Bridge Road, Richmond records highest ever retail vacancy rate: KnightFrank

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South African hotel baron Sol Kerzner has entered into an agreement with Malaysian-backed company Mulpha Australia to assume management of one of Australia's most prized luxury Island resorts - Hayman Island.  
Under the deal announced today between Mulpha and Mr Kerzner's international hotel group, Kerzner International, the iconic resort will undergo a multi-million dollar renovation and be re-launched as One&amp;Only Hayman Island in April 2014 - the first of its kind in Australia.
Mulpha will maintain full ownership of the island and the resort.
Mulpha executive chairman Seng Huang Lee described the partnership as the start of a "new era for the resort under their One&amp;Only brand”.  
Kerzner International’s One&amp;Only brand - located in the Bahamas, Mexico, Mauritius, the Maldives, South Africa and Dubai - is considered to be one of the finest luxury resort properties in the world and known for its "blow away the customer" experience.
Mr Kerzner was not available for immediate comment but sources told Property Observer he is due to arrive in Australia later this month for a three day visit.
Kerzner International chief executive Alan Leibman said Hayman was the perfect destination for the first One&amp;Only brand in Australia and “I know the resort will be well received by our many loyal One&amp;Only guests, as well as guests that have been enjoying Hayman for years."
“My personal commitment is to make One&amp;Only Hayman Island a must stay for the well-travelled to explore the wonders of this magnificent destination.”
DBI Design, in partnership with the Kerzner International Development Team, has been engaged for the interior design and landscape architecture for the resort’s rebirth.
In a glimpse of what is to come, the new Hayman rooms and Hayman suites, featuring ocean and lagoon views, will be introduced with reimagined interiors and amenities and the iconic pool will be renewed. A variety of world-class cuisines overseen by internationally acclaimed chefs will also be introduced, along with a One&amp;Only Health Spa.
As part of the ongoing development and investment programme, Mulpha will continue a staged rollout of the ultra- luxury Hayman Private Residences and Hayman Marina Residences offering private ownership opportunities for select clients and guests.
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Sol Kerzner finalises Hayman Island management agreement

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Current investor activity in Perth’s residential sector is relatively weak. Despite interest rates being very low and rental yields being around 5%, investors still find the entry costs to Perth property significant.
Particularly against the backdrop of a relaxed vacancy rate and its potential to <a href="https://www.propertyobserver.com.au/news/perth-landlords-lower-rents-to-dissuade-potential-buyers/2013090264735?utm_source=po&amp;utm_medium=aida&amp;utm_campaign=news&amp;utm_source=Property+Observer+List&amp;utm_campaign=ae09f508a4-June_21_1_29_2013&amp;utm_medium=email&amp;utm_term=0_a523fbfccb-ae09f508a4-" target="_blank">soften median rents in coming months</a>.
Investor activity in the market is important because around 80% of rental accommodation is provided by the private sector. Governments simply cannot provide rental accommodation for everyone who needs it, so incentives to investors flows through to more choice in accommodation for tenants.
Most investors purchase multi-residential stock such as flats, units, apartments and villas. Partly because these are more affordable than houses but also because, depending on location, they tend to be easier to rent and more sought after by tenants.
Around half of all multi-residential property is owned by investors.
Property investors can spend a lot of time researching a suitable purchase but this is only half the skill of successful real estate investment. The other important factor is keeping the property in good condition.
Understandably, there is a tendency to minimise ongoing expenditure and to maximize returns, but experienced investors know that spending money to keep a property in good condition results in better performance, including more conscientious tenants, above average rents and fewer vacancies.
Ultimately, a well maintained property is likely to attract a better resale price.
Unless you have plenty of spare time and are familiar with the legal processes involved in renting property, it pays to ensure your investment is looked after properly by appointing a licensed property manager. Around 60% of investment properties are professionally managed in WA.
Such properties are more likely to require less long term maintenance than those handled privately, simply because property managers conduct regular inspections and advise owners of any upkeep.
A good property manager will also advise owners of any up-coming major work identified during an inspection.
Having appointed a property manager you should conduct a thorough inspection of the property to determine any repair work.
If a rental property is in top condition when leased, it is much more likely that a tenant will keep it that way. It is important that owners set a high standard for the condition of their property at the start of the lease in order to maintain that standard from the tenants.
This is particularly relevant for investors who may have purchased older, possibly run-down properties.
For owners, it pays to spend money on quality locks, security screens, a fresh coat of paint, air-conditioning, floor coverings, window treatments, tap fittings, contemporary tiling and repairs to cupboards.
Better presented properties will attract more appreciative tenants and a better rental return.
 
<hr>
 David Airey is president of the <a href="https://reiwa.com.au/home/default.aspx" target="_blank" rel="nofollow">Real Estate Institute of Western Australia.</a>This article was originally published on <a href="https://reiwa.com.au/Faq/Pages/Feature.aspx" rel="nofollow" target="_blank">reiwa.com</a>.
 
 
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Good property maintenance attracts better tenants and creates greater rental return: David Airey

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In my last post I covered a few big-picture topics that are important to all buyers.
But we also need to always <a href="https://www.propertyobserver.com.au/demographics/look-beyond-the-demographics-to-find-what-buyers-really-want-peter-chittenden/2013082664535" target="_blank">look beyond current market demographics and consider new emerging trends</a>.
Across a wide variety of projects here are some of the style leaders that buyers are currently looking for in new developments.
Smaller and better
First up there has been a long-term trend towards small. Apartments have been getting smaller, driven by varied factors including cost, but also because the feedback is that buyers are in fact happy with smaller apartments.
But they expect them to be well designed, with the clever use of interior space and in a handy location that offers great local facilities. Small appears to be a good match with today’s busy and highly connected lifestyles.  Like cars, big no longer means better. But as we have seen with cars, design does need to be first rate.
And while we are thinking smaller in terms of space and cost I have previously talked about the <a target="_blank" href="https://www.google.com.au/url?sa=t&amp;rct=j&amp;q=&amp;esrc=s&amp;source=web&amp;cd=1&amp;cad=rja&amp;ved=0CC8QFjAA&amp;url=http%3A%2F%2Fwww.propertyobserver.com.au%2Fdevelopments%2Faustralian-apartments-won-t-be-getting-any-smaller-peter-chittenden%2F2013021159283&amp;ei=D2omUouyN-aXiQeb34CYBQ&amp;usg=AFQjCNG7u6YSD64hlzijcYk9XryB8aoEKg&amp;bvm=bv.51495398,d.aGc">emergence of micro apartments</a> that have recently been developed in New York and San Francisco.
While we are yet to see micro apartments here, the number of households with only one or two residents looking for the perfect place to live is on the increase and driving demand for smaller apartments.
These buyers are clearly seeking out apartments in key areas, often in or near CBD positions. For the ideal location this trend is already attracting prices beyond a million dollars and the spread of high-end, one-bedroom apartments with this price tag is set to be much more common.
I feel sure that we will soon be tracking $1 million plus one-bedroom apartments as we did with house prices some 20 years ago. It has already been suggested that Sydney’s median house price will likely reach above $1 million by 2020 and so is it reasonable to expect that apartments will not escape this trend.
Small appliances
Thinking small, we are also seeing the wider use of smaller appliances in apartments, but again matched by quality and convenience.
A great example is the draw dishwasher (first designed in NZ in 1987) and also induction cooktops, combination microwaves and flexible fridges where a freezer converts for wine storage. These are all good examples of popular ideas now turning up in new projects.
The two-bedroom suite
The two-bedroom suite layout is now a very popular design trend with apartment buyers. It’s a simple idea where there are two-master bedrooms, with full bathrooms and walk in robes, then there is a big central living area, this design is very popular with a whole range of buyers and investors.
They are great for shared renters or anyone wanting to have self-contained guest accommodation or for unattached joint buyers.
Social buildings
Buildings designed with a range of shared social spaces are also popular, be that space a well-equipped BBQ area, a library or cinema room.  These are fashionable and this trend neatly fits with the popularity of smaller apartments.
In a number of buildings I have seen recently, the idea is to have a mix of these facilities, with nothing too big so that residents have a variety of options. The shared facilities make it possible to entertain extended family or a small group of friends. Other options now include communal lounge areas, rooftop green spaces and outdoor dining pods.
Being connected
Another key trend is that buildings must have connectivity and that starts with mobile phone reception and wireless internet. Both are extremely important to apartment living and every room needs to be connected. The spread of more people working from home is a factor to keep in mind.
For many buyers, a sense of community is truly important with apartments being convenient for both work and leisure-time activities and the spread of mini-marts, 24-hour and micro fitness centres alongside local cafes and shops are all setting the pace.
Being Green
Energy-efficient living is a big plus, and many buyers are now concerned about a building’s green credentials and that extends well beyond garbage recycling.
Environmental friendliness is a key factor for many buyers when deciding where to live as they look for storm water feed gardens, easy access to bike paths, and evolving popularity of shared car facilities and soon the emergence of plug-in stations for electric cars.
Secure bike storage also gets a tick, but the storage needs to be close to individual apartments not a long walk to a dark corner of the main car park.
Pets
Pets are also important, and so this trend for pet friendly buildings are now almost the norm and not the exception.
Some other items on the short-list of design improvements include better lighting, more imagination in the use of colours including kitchen designs and the use of varied materials so that glossy or low-sheen are no longer the only options. Sound proofing feature walls are also an agenda item with big television screens very much a fixture.
It is exciting to think about these trends, because appreciating what buyers are looking for helps lead to better design and I know that developers are more than happy to deliver projects to match what buyers are craving.


<hr>
Peter Chittenden is managing director for residential of <a target="_blank" rel="nofollow" href="https://www.colliers.com.au/Colliers%20Corporate/Residential.aspx">Colliers International.</a>
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