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“Minister Chanthivong and his team have shown real leadership in replacing an outdated two-year bond with cover that matches the lifespan of the buildings people are buying into.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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At its meeting today, the Board decided to leave the cash rate unchanged at 2.5 per cent.
Recent information is consistent with global growth running a bit below average this year, with reasonable prospects of a pick-up next year. Commodity prices have declined from their peaks, but generally remain at high levels by historical standards. Inflation in most countries remains well contained.
Overall, global financial conditions remain very accommodative, though the recent reassessment by markets of the outlook for US monetary policy has seen a noticeable rise in sovereign bond yields, from exceptionally low levels. Volatility in financial markets has increased and has affected a number of emerging market economies in particular. Notwithstanding the higher volatility, Australian institutions have ample access to funding markets.
In Australia, the economy has been growing a bit below trend over the past year. This is expected to continue in the near term as the economy adjusts to lower levels of mining investment. The unemployment rate has edged higher. Inflation has been consistent with the medium-term target. With growth in labour costs moderating, this is expected to remain the case over the next one to two years, even with the effects of the recent depreciation of the exchange rate.
The easing in monetary policy since late 2011 has supported interest-sensitive spending and asset values, and further effects can be expected over time, including from the declines in rates seen over recent months. The pace of borrowing has remained relatively subdued, though recently there are signs of increased demand for finance by households.
The Australian dollar has depreciated by around 15 per cent since early April, although it remains at a high level. It is possible that the exchange rate will depreciate further over time, which would help to foster a rebalancing of growth in the economy.
At today's meeting, the Board judged that the setting of monetary policy remained appropriate. The Board will continue to assess the outlook and adjust policy as needed to foster sustainable growth in demand and inflation outcomes consistent with the target.
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po-LsXgBTHBmX

RBA Governor Glenn Stevens' September statement

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Coalition leader Tony Abbott has pledged to resurrect the Australian Building and Construction Commission within 100 days of winning government, but experts say the move is a step backwards.
The ABCC was absorbed into the Fair Work system in 2012, but a report prepared by Coalition MPs reportedly states the commission could be up and running shortly after the election, according to Fairfax.
But returning to the ABCC, industrial relations experts say, would be a backwards step.
“It’s not as though the ABCC was abolished and no one picked up its functions,” TressCox Lawyers partner Rachel Drew said this morning.
The Coalition has met with members of the Construction, Forestry, Mining and Energy Union, although Australian Council of Trade Unions assistant secretary Tim Lyons told Fairfax the meetings weren’t necessarily productive: “It’s fairly clear that they have got a fixed view about what they are going to do”.
While the Coalition has said for months it plans to reinstate the ABCC, this is the first indication it could do so extremely quickly.
Coalition MP Paul Fletcher, in charge of the report, was contacted but no response was available prior to publication.
The report comes a week after the Master Builders Association released a new Econtech report arguing reinstating the ABCC <a href="https://www.smartcompany.com.au/politics/057229-the-shaky-foundations-of-the-coalition-abcc-promise">would deliver $7 billion in benefits to consumers</a>.
The ABCC attracted controversy during its time for extreme investigatory powers. Disbanded in 2012, the ABCC’s responsibilities have been handed to the Fair Work Building and Construction inspectorate, albeit with less wide-ranging powers.
Drew says there were good reasons why the ABCC was abolished, as there were “issues of whether or not it was acting impartially”.
“I could understand if they want to change the role of the current commission, or to make some changes,” she says.
“The building and construction industry is a big enough industry that it needs its own commission. But to return to the ABCC itself just seems like a backwards step.”
Reinstating the ABCC is just one part of the Coalition’s industrial relations policy, which includes changing bargaining rules, allowing more changes to individual flexibility agreements, creating an appeal division of Fair Work and ordering a Productivity Commission review of Fair Work laws.

<hr>
This article was originally published on <a target="_blank" href="https://www.smartcompany.com.au">SmartCompany</a>.
 
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pmcstafford-pr9eMARWoN

Experts not to keen on the Coalition's plan to resurrect Building and Construction Commission

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It would be fair to say that the vast majority are well and truly over all the policies on the run that our politicians keep throwing at us on a daily basis.
Nearly all will never see the light of day (well not in our lifetimes anyway) which would explain why the general public are over the electioneering over promising and generally taking electorates for fools.
Unemployment is an obvious concern with the three M’s struggling – manufacturing, mining and motor vehicles all facing challenges in the short–term. Of great concern, and this in my opinion should be priority number one although it barely rates a mention out on the hustings, is that <a title="The wheels have fallen off the construction industry." href="https://www.propertyobserver.com.au/economy/the-wheels-have-fallen-off-the-construction-industry-michael-matusik/2013082864637" target="_blank">the wheels have fallen off the construction industry.</a>
“Here is a good question for you. Which industry is Australia’s largest? One might think it would be mining, given the amount of airplay it gets. But with about 8,500 business operations you would be way, way off. Have another go. Public administration? Wrong. Professional services? Incorrect. Retail? No."
“The answer is construction, with just over 350,000 businesses operating across the country. One in every sixth business in Australia builds something. Sadly, however, the building game must be on the nose because 5,575 construction – related businesses stopped trading over the last twelve months,” said Michael Matuisk.
You never heard it mentioned in the debates that Australia’s construction industry finds itself at record lows.
On the flip side it is reassuring to see that NSW has turned the corner thanks to a state government focussed on infrastructure. Premier Barry O’Farrell announced that the number of properties being constructed in Sydney has reached a 10–year high.
The majority of these works are happening exactly where they should be – Parramatta, Camden, Liverpool and the Hills District – the flow-on affect following the North West and South West Rail Links, WestConnex and M5 widening.
The Australian Bureau of Statistics (ABS) latest data identified the value of construction in the June quarter of 2013, registered a seasonally adjusted – 0.3% fall and 0.9% over the year. Analysts had predicted a 1.0% increase over the quarter.
One of the reasons why construction is suffering, along with manufacturing, mining and motor vehicles is blatantly obvious in the graph below.
<a href="https://www.rwm.com.au/files/2013/08/20-08-2013-3-48-58-PM.jpg" style="margin: 0px; padding: 0px; border: 0px; outline-width: 0px; font-style: inherit; font-family: inherit; vertical-align: baseline; color: #be002d; text-decoration: none;"><img class="aligncenter size-full wp-image-8167" alt="20-08-2013 3-48-58 PM" src="https://www.rwm.com.au/files/2013/08/20-08-2013-3-48-58-PM.jpg" width="470" height="352" style="margin: 0px auto; padding: 0px; outline-width: 0px; font-style: inherit; font-family: inherit; display: block; max-width: 100%;"></a>
One part of the electioneering I have found interesting is discussions about technology and how our economy will now be described as the digital economy according to Malcolm Turnbull.
Delloitte recently released an intriguing report <a title="Connected Small Business - how Australian small businesses are growing in the digital economy" href="https://www.deloitte.com/view/en_AU/au/insights/browse-by-content-type/media-releases/353dcb8dd760e310VgnVCM1000003256f70aRCRD.htm" target="_blank">Connected Small Business – how Australian small businesses are growing in the digital economy</a>. It is well acknowledged that Australia faces enormous challenges in the foreseeable future competing with overseas products – and that's why all businesses need to adhere to a strict online platform if they are to succeed; “The online world opens up huge opportunities for small business across the country and holds the potential for a broader economy – wide transformation."
More particularly “Australia’s substantial small and medium–size business sector… contributed $530 billion to the economy in 2010–11, over half of private sector economic activity, and employed over seven million people, generating more than two thirds of private sector employment.
“A national survey of 500 small businesses measured their level of digital engagement, such as having a website with business information or the use of digital marketing to attract customers.”
“Small businesses making full use of the internet with high digital engagement enjoy better business outcomes, with a $350,000 or 20% increase in annual revenue. “
Digital engagement of Australian small business:
<ul>
<li>
16% – SMB’s making the most of the web with high digital engagement. (I would place our business in this category.)
</li>
<li>
25% – SMB’s that have medium digital engagement.
</li>
<li>
24% – SMB’s have low digital engagement
</li>
<li>
35% – SMB’s that have very low digital engagement and do not use the internet at all
</li>
</ul>
I would suggest that if you fall into the bottom two categories your business will be closed within three years’ time. I think the digital economy is one of the most important and exciting transformations that the world has ever seen. I remember reading about a decade ago “Get e–based or e–rased.”
 
<hr class="system-pagebreak">
Over to the Mosman, Cremorne and Neutral Bay property markets which again remain in a holding pattern albeit interesting to note that when you look at <a title="this week’s sales " href="https://www.rwm.com.au/news/" target="_blank">this week’s sales </a>it is quite apparent that vendors and purchasers are engaging based on sales evidence, thus far. 
<a title="What will happen to housing prices in the wake of a federal election?" href="/news" target="_blank">What will happen to housing prices in the wake of a federal election?</a> Anecdotal evidence clearly points to our housing markets performing much better under a Coalition government where we expect the market to be robust, more so after Saturday week.
<p style="margin-top: 0.825em; margin-bottom: 0.5em; border: 0px; outline-width: 0px; font-weight: normal; font-size: 1.25em; font-family: DINMediumRegular; vertical-align: baseline; color: #666666; line-height: 18px;">MOSMAN – 2088
• Number of houses on the market this time 2012 – 104
• Number of houses on the market last week – 84
.Number of houses on the market this week – 83
• Number of apartments on the market this time 2012 – 92
• Number of apartments on the market last week – 63
Number of apartments on the market this week – 58
<p style="margin-top: 0.825em; margin-bottom: 0.5em; border: 0px; outline-width: 0px; font-weight: normal; font-size: 1.25em; font-family: DINMediumRegular; vertical-align: baseline; color: #666666; line-height: 18px;">CREMORNE – 2090
• Number of houses on the market this time 2012 – 22
• Number of houses on the market last week – 7
.Number of houses on the market this week – 8
• Number of apartments on the market this time 2012 – 19
• Number of apartments on the market last week – 13
.Number of apartments on the market this week – 19
<p style="margin-top: 0.825em; margin-bottom: 0.5em; border: 0px; outline-width: 0px; font-weight: normal; font-size: 1.25em; font-family: DINMediumRegular; vertical-align: baseline; color: #666666; line-height: 18px;">NEUTRAL BAY – 2089
• Number of houses on the market this time 2012 – 17
• Number of houses on the market last week – 13
.Number of houses on the market this week – 12
• Number of apartments on the market this time 2012 – 45
• Number of apartments on the market last week – 36
• Number of apartments on the market this week – 36
Source: Australian Property Monitors
It has been widely acknowledged that small business is the engine room of our economy, so why has the ALP government treated this portfolio as a half – way house? Since the 2007 election the ALP has now appointed five small business ministers, which in all probability explains why small business has turned on the government.
Next week’s federal election will be the fifth covered by Virtual Realty News and I must say that yesterday’s announcement by “Sportsbet has declared the federal election as a one – horse race and we’re paying out all bets on the Coalition nine days before Australia goes to the polls.” Currently they have the Coalition at $1.03 and the ALP at $11.00 which is the highest price since betting markets opened.
Sportsbet have the Coalition favourites in 90 electorates and the ALP favourites in 56 electorates. So how good is their form guide? In the 2010 federal election 147 Sportsbet favourites out of 150 seats went on to win the seat.
On that basis Kevin Rudd is gonski.
 
<hr>
 Robert Simeon is a director of <a style="font-size: 14px;" rel="nofollow" target="_blank" href="https://www.rwm.com.au/" title="RWM">Richardson  Wrench Mosman and Neutral Bay </a>and has been selling residential real estate in Sydney since 1985. He has also been writing real estate blog <a style="font-size: 14px;" rel="nofollow" target="_blank" href="https://www.rwm.com.au/news/" title="Virtual Realty News">Virtual Realty News</a> since 2000. The RWM real estate model has sold in excess of $1 billion in database sales globally.
 
 
 
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robertsimeon-hRNTwJyXkQ

Real estate vendors need to embrace the digital age: Robert Simeon

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John Singleton's Australian Pub Fund recently bought its 11th pub for around $34 million.
<a target="_blank" href="https://www.propertyobserver.com.au/queensland/singo-s-australian-pub-fund-buy-brisbanes-the-exchange-hotel-for-%2435m-%2440m/2013082864647">The purchase</a> brings the company closer to its goal of having a listed pub empire. 
In 2011 Singleton and his friends, Mark Carnegie and Geoff Dixon, established the fund to start buying distressed pubs around Australia and turn them into cash-cows with food, drinks and poker machines contributing one third of revenue in each.
Eventually<a href="https://www.propertyobserver.com.au/commercial/no-last-calls-for-john-singleton-and-co-s-burgeoning-pub-empire/2013090264724" target="_blank"> they will publicly list the company.</a>
Property Observer has compiled a list of the pubs bought by the fund so far with their reported sale price at the time as well as RP Data's price for some of the properties. RP Data's prices likely only include the value of the property and not the business value.
The fund is reportedly worth around $180 million now though the purchase prices add up to $140 million.
The Exchange Hotel, 131 Edward Street Brisbane, August 2013, around $34 million
Elephant Arms Hotel (formerly Elephant &amp; Wheelbarrow Hotel), 230 Wickham St?reet Fortitude Valley, April 2013, $27 million though RP Data indicates a land price of $11.6 million.
Bristol Arms, 81 Sussex Street Sydney, April 2013, $7.7 million
RP DATA $7.7 million
Kinselas, 383 Bourke Street Darlinghurst, March 2010, $12 million
Peakhurst Inn, 705 Forest Road Peakhurst, 2010, $10.6 million
RP DATA $7.75 million
Como Hotel, 35 Cremona Road Como, March 2013, $4.6 million
Unity Hall Hotel, 292 Darling Street Balmain, June 2011, $10 million
RP DATA $10 million
Toxteth Hotel, 345 Glebe Point Road Glebe, April 2011, close to $10 million
RP DATA $10 million
Marlborough Hotel, 145 King Street Newtown, September 2012, $12.175 million
RP DATA: $7,675,000
Victoria Hotel, 2 Addison Road Enmore, June 2012, $6.9 million
RP DATA: $4,329,220
Bellevue Hotel, 159 Hargrave Street Woollahra, November 2010, $4.2 million
 
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John Singleton's burgeoning pub empire

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The number of days property is lingering on the market before sale is increasing in most capital cities around the nation, according to Australian Property Monitors.
Over the month of August, Brisbane increased the most, spending an average of 122 days on the market, the highest month since January at 128 days.
In July, Brisbane property was spending an average of 104 days on the market.
Perth property stayed on the market longer throughout August, increasing from an average of 77 days in July to an average of 90 days in August.
Melbourne property sold faster in the month of August than it did earlier this year, peaking in the month of January at an average of 112 days on the market.
Melbourne propertys average time on the market stayed relatively stable in August at 95 days, a slight increase from July at 93 days.
Sydney has remained the snappiest city for the second month in a row, with an average of 73 days on the market.
Sydney also peaked in January this year at an average of 93 days.
<img height="707" width="470" src="/images/stories/2013/08/heat-chart-aug-28-one.jpg" alt="heat-chart-aug-28-one">
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ntrotman-Et3xWpamVh

Winter months see property linger on the market for longer: APM

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Hi Margaret,
 I have my rental unit for sale and the real estate agent says a buyer is requesting a copy of my depreciation schedule. Should I supply this as it contains the purchase price?
Regards, 
David
<hr>
Hi David, 
There is no reason to provide this depreciation schedule at all, since a depreciation schedule is prepared for a person, not for a rental property per se. 
The new buyer will not be able to use this schedule for their own claims and must have one of their own prepared. This is because their acquisition date is different than yours and the plant and equipment will be dealt with differently for them than it was for you. 
Essentially, the plant and equipment will get a ‘new effective life’ in consideration for the fact that it was not new when they bought the property from you.

Having said that, you can provide, for their information only, the amounts which have been listed therein, as this does not give away your original purchase price at all. 
Depreciation is divided into two main parts – that for the building and that for the plant and equipment.  Neither relate to what you paid for that property.  It’s possible that this information might provide a good guide to the buyer as to what they can expect, but it should be provided with a disclaimer that this is not provided as part of any tax advice, or even an expectation of what the new owner can achieve.
You should also advise them they must have their own report prepared. 
I’d put this in writing if you do decide to go ahead and provide this information, as you would not want the buyer to come back at you later claiming they only bought it on the basis of your advice about how much tax they could claim.   
Regards,
Margaret
<hr>
Margaret Lomas is a best-selling author and writes and hosts the popular Property Success With Margaret Lomas and heads up the panel on Your Money, Your Call, both on Sky News. She is the founder of <a href="https://destiny.com.au/dotnetnuke/en-au/home.aspx" target="_blank" rel="nofollow">Destiny</a>.
Have a property question? <a href="mailto:askmargaret@propertyobserver.com.au" target="_blank">Ask Margaret!</a>
  
 

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mlomas-KC9MUPZ6Ca

Should I supply a buyer with my depreciation schedule? Ask Margaret

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It might have been the most expensive pub ever bought in Brisbane, but it doesn’t look like millionaires John Singleton, Mark Carnegie and Geoff Dixon plan on slowing down the growth of their burgeoning pub empire anytime soon.
Earlier this week, the three bought Brisbane’s Exchange Hotel. The price wasn’t disclosed, but <a rel="nofollow" href="https://www.afr.com/p/business/property/singo_splurge_on_queensland_pub_oD2H90AS74fFKBcZ2PmzGM" target="_blank">newspaper reports</a> peg it at having sold for between $35 million and $40 million. If this is on the mark, it would be the most expensive pub ever purchased in Brisbane.
It’s been <a href="https://www.smartcompany.com.au/finance/047062-20111128-john-singleton-and-geoff-dixon-to-establish-200-million-pub-fund-2" target="_blank">less than two years</a> since Rich Lister and ad man Singleton, investment banker Carnegie and Tourism Australia chief Dixon established the Australian Pub Fund, but it’s already bought 11 pubs.
These include the landmark Marlborough Hotel in Sydney (<a href="https://www.smartcompany.com.au/property/051647-john-singleton-s-pub-group-buys-iconic-sydney-hotel-2" target="_blank">bought for $12 million at auction</a>), the Elephant Arms Hotel in Brisbane and Sydney’s Bristol Arms Hotel.
It might seem like a passion business for the three millionaires, but no doubt they would describe it more as a savvy business investment.
In the years leading up to 2008, pub values soared. Owners took on heavy debt to finance new renovations and pub purchases, but then the market crashed, and prices kept falling. By late 2011,<a href="https://www.smartcompany.com.au/finance/047062-20111128-john-singleton-and-geoff-dixon-to-establish-200-million-pub-fund-2" target="_blank">values were at rock bottom</a>. And so, Singleton and his mates went on a pub crawl.
There was, quite literally, a pub crawl, but given the <a rel="nofollow" href="https://www.dailytelegraph.com.au/singos-15-hour-pub-crawl-that-clinched/story-e6freuy9-1225886895424" target="_blank">15 hours of business meetings the trio took</a>, I’m sure they weren’t too sloshed.
Singleton booked in 15 hours of meetings with pub owners all across Sydney. And he liked what he saw.
The strategy, going by Singleton’s public statements, was simple but ambitious.
He, Carnegie and Dixon would tip in $100 million of their own money, along with some bank debt and other funding, and use it to buy distressed pubs, whose owners were keen to get out.
They would then turn these pubs into balanced cash cows, with food, drinks and poker machines contributing roughly one third of revenue each.
Once the pubs are fully up and running the way they should, the plan is to eventually list the pub fund on the stock market, hopefully netting the three founders of the Australian Pub Fund a handy profit for their trouble.
When news of the pub fund first broke, Singleton said it could buy “three or 33” pubs, depending on whether or not the opportunities were there.
Two years later, it seems there’s been plenty of undervalued real estate on the market. The fund has flagged its intentions to buy more pubs in Brisbane, and it’d be unwise to dismiss further purchases in the founders’ home city of Sydney.
Neither Singleton, Carnegie nor Dixon made their fortunes in hotels or property. But, when you’ve got the money, I guess the opportunity is there for the taking. Cheers to that.
<hr>
This article originally appeared on <a target="_blank" href="https://www.smartcompany.com.au">SmartCompany</a>.
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mrobin-TVRYiru7si

No last calls for John Singleton and co's burgeoning pub empire

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Perth’s median price is slipping, but it seems it might just be a sign of first time buyer activity driving sales in more affordable areas, according to the Real Estate Institute of Western Australia (REIWA).
Pointing to a slip in Perth’s median house price by 1.4% to $515,000 over the three months to August, compared to the three months to May, REIWA president David Airey said that the cause is quite likely to be first time buyers.
“This appears to be due to the large turnover of more affordable homes skewing the median downwards,” Airey said.
This also appears to correlate to those suburbs currently recording a higher level of stock turnover, which tend to sit at a median price lower than that of Perth overall. For instance, REIWA recorded that the north west and southern parts of the City of Wanneroo had the strongest jump in turnover of between 31% and 36%, with median prices sitting around the $350,000 mark (RP Data).  
Destiny’s Margaret Lomas agreed with Airey’s view that new buyers are behind the overall median price drop.  
“It’s definitely first time buyers as locally, the residents of investors in Perth aren’t quite ready to accept that Wanneroo area may provide some good investing opportunities," Lomas told Property Observer.
“I’d expect to see this change in the coming year or two and those first home buyers will start to see increasing competition from property investors," she said, suggesting a future pick up in these LGAs may be likely.
Further to this, the more affordable areas of Kwinana and Rockingham also saw increased turnover while in the City of Joondalup sales slumped by up to 20% across the LGA. The median house price for the suburb of Joondalup is recorded at $870,000 (RP Data), further suggesting first time buyers are the active segment in the market.
Overall, REIWA recorded a 14% decrease in properties sold when comparing August to May, despite being up by 4% from July.
Perth was one of just two capitals nationally to see a drop over the last quarter, RP Data <a target="_blank" href="https://www.propertyobserver.com.au/news/brisbane-leads-august-recovery-as-melbourne-and-perth-record-weakest-mainland-monthly-change-in-dwelling-values/2013090164715?utm_source=po&amp;utm_medium=aida&amp;utm_campaign=news">recently recorded</a>.
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jduke-EHk3XBmHkn

Cheaper Perth suburbs to see an uptick

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Average Australian households have seen their incomes rise by at least $5000 more than their expenses every year since 1988, according to a report released on Saturday.
Combined, this means disposable incomes for the average household have increased a whopping 65% since 1988. More than 15% of this growth has come since the global financial crisis.
This picture of a nation in rude financial health comes from a <a target="_blank" rel="nofollow" href="https://www.natsem.canberra.edu.au/storage/NATSEM-Household-Budget-Report.pdf">report</a> by the National Centre for Social and Economic Modelling at the University of Canberra.
The inaugural report found that though incomes hadn’t risen as fast since 2008 as they had in the earlier part of that decade, cost of living pressures had slowed, meaning households saw their incomes rise while their expenses stayed about the same.
While expenses like utilities, health and education rose strongly over the period, lower interest rates meant mortgage pressure decreased markedly, as did many other aspects of household expenditure.
This is a surprising outcome, given cost of living has been much discussed in this election campaign. Policies like the carbon tax, which contributed to former Prime Minister Julia Gillard losing the support of her party room, were feared to have a detrimental effect on what were perceived to be already high cost-of-living pressures.
In fact, the amount of disposal income left over to households after subtracting the cost of living increases grew at 2.6% a year since 2007, which is the exact amount it had grown under the Howard government. Between 2007 and 2010, household expenses grew by 3.3% a year while incomes rose close to 6% a year, while from 2010 to June 2013, cost of living rose 1.6% a year while incomes rose 4.2%.
Increases in the cost of living have been “benign”, according to the report, but they have disproportionately hit renters and those on low incomes. Those on high incomes have generally seen their costs of living stay the same.
The report’s author, Ben Phillips, said cost of living has been an election issue for decades, and the influence of the narrative often has little to do with reality.
“Politicians have been talking about it for a long time. I suppose it really hits the buttons of voters.
“But the problem is that the discussion usually complete ignores the prices of things outside electricity, petrol and food, and completely ignores things like rising incomes.
“We all notice when prices go up. It annoys people. Income growth, however, isn’t as visible.”
It’s the first time the National Centre for Social and Economic Modelling has released what is to be a quarterly report. Phillips says that it follows on from similar research the centre did in May 2012.
“We had an unprecedented level of interest in that data,” he says. “I had government departments and journalists calling me almost on a daily basis asking about it. Many wanted updated figures, so it became pretty clear there was a need for this sort of thing to be done regularly.”
The Household Budget Report combines Australian Bureau of Statistics data on household expenditure for different types of households with separate ABS data on income growth across different categories. It uses these two data sets to see how different types of households have seen their income grow relative to their expenditure.
The ABS currently has a similar, but far more limited measure intended to help governments assess income support measures. The National Centre for Social and Economic Modelling’s report differs in that it applies the same methodology to all types of households, and not just those on government assistance.
 
<hr>
 This article was originally published on <a href="https://www.smartcompany.com.au" target="_blank">SmartCompany</a>.
 
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What cost of living crisis? Australian households have more money to spare than ever

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More chirping over at Property Observer last week.
<a target="_parent" href="https://www.propertyobserver.com.au/residential/in-the-current-market-young-buyers-should-save-and-rent-don-t-buy-now-david-collyer/2013082864634?utm_source=po&amp;utm_medium=aida&amp;utm_campaign=ourobservers:adviceandanalysisforreaders">David Collyer wrote an article</a> advising youngsters to shun buying property and instead direct money into a savings account.
Fair enough, there's little value in continuing with the argument.
There's nothing wrong with issuing financial advice based on a robust forecasting model or a proven track record, but advice shouldn't be issued based on what was basically just a guess of prices falling by 20%. A "courageous" call is one way to describe it; "completely wrong" would be another.
Adjusting prices for inflation is also nonsense, for properties aren't bought with inflation-adjusted dollars, and thus property owners are significantly better off than they were a year ago and have made headway in paying down their mortgages over the past few years, while rents will continue to rise.
Suffice to say that I remain convinced that you can get better returns on your capital than in a savings account with the official cash rate at just 2.50% and likely heading to 2.25% before Christmas, whether via property or from a well-diversified portfolio of profit-making and dividend-paying shares.
As for the "inevitable" housing correction, David is, of course, absolutely right - property prices will always move in cycles and a downturn will definitely come. This is always and everywhere the case.
The timing of the next correction, however, is far from certain. It could yet be two to three years away by which time the market may have moved on significantly.
In my opinion, Sydney's property prices, which are already up by well over 10% since the early part of 2012 with gains now accelerating over the last 8 weeks according to RP Data, will probably continue to add strong gains over the coming months and in all likelihood well beyond.
I'm not in the business of weather forecasting, but it would be no surprise at all to me to see this cycle recording price gains in Sydney of in excess of 20%.
Don't forget that the Reserve Bank is actually looking for property market prices to go up; heck, the Board is barely even pretending otherwise.
In any case, there is certainly no evidence at all of any home buyers' strike in the harbour city, with auction clearance rates hitting the astonishing level of 84% on Saturday, the highest recorded this year, completing a record month of August for the city.
Last weekend's 79% clearance rate was the only weekend in the last eight where less than a "boomtime level" of 80% of auctioned properties were sold.
The Sydney property boom has some way to run yet.
According to the REIV, Melbourne's auction clearance rates remained strong at 74% as compared to a very high 79% last week.
Melbourne continues to surprise me - I had previously felt fairly sure that prices would recede somewhat after the phenomenal price boom, but instead the market has been remarkably resilient and prices remain close to all-time highs.
It all just goes to show how hard timing the market is - which is precisely why I'm not a strong advocate.
I heard a lot of talk of inevitable mean reversion and unsustainable prices in London back in the 1990s, yet the best part of two decades later there has been no correction worthy of the name and prices are higher than they have ever been, while those of use with mortgage debt from that time are grateful to have extinguished most of it over that time horizon.
In Australia, to a large extent it's a question of location. Some cities and regional areas continue to look weak despite record low interest rates. If you're waiting for prices to become cheap in Sydney's popular suburbs, however, you may as well be waiting for Godot.
<hr>
Pete Wargent is the co-founder of <a href="https://allenwargent.com/" target="_blank" rel="nofollow">AllenWargent</a> property buyers (London, Sydney) and a best-selling author and <a href="https://petewargent.blogspot.com/" target="_blank" rel="nofollow">blogger</a>.
 His new book '<a href="https://www.bigskypublishing.com.au/Books/General-Interest/Four-Green-Houses--and-a-Red-Hotel/1015/productview.aspx" target="_blank" rel="nofollow">Four Green Houses and a Red Hotel</a>' was released on 1 September 2013.
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