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“Minister Chanthivong and his team have shown real leadership in replacing an outdated two-year bond with cover that matches the lifespan of the buildings people are buying into.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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I can’t ever remember seeing as many conflicting reports on the state of the Australian economy as we are seeing at the moment.
Maybe in 23 days time when the outcome of the federal election is known we may be in a better position to get a true reading on exactly what is happening or to that extent where our economy is headed. At this juncture in time it’s anyone’s guess depending on your political persuasion.
Just over a week ago the Reserve Bank of Australia (RBA) singlehandedly attempted to steady the economy when they dropped the cash rate to a record low of 2.5%.
Only history will be the judge as to whether this decision was the right or wrong way to go – albeit already we are seeing some very scary symptoms emerging with the property markets. 
<a target="_blank" href="https://www.propertyobserver.com.au/news/sydney-secures-its-sixth-80-plus-weekend-auction-success-rate-sort-of/2013081764295?utm_source=po&amp;utm_medium=aida&amp;utm_campaign=newsplus" title="Sydney auctions in 80% plus overdrive for fifth consecutive weekend ">Sydney auctions in 80% plus overdrive for sixth consecutive weekend </a>where it should be noted that previously it has been acknowledged that when clearance rates hit 80% plus, the markets are in what is known as a technical boom.
This time around it appears that it is the lower end markets participating in this buyer frenzy, with the top end markets not seeing anywhere near the same excitement.
Just look at this week’s <a target="_blank" href="https://www.rwm.com.au/news/" title="Mosman and Neutral Bay Sales Watch">Mosman and Neutral Bay Sales Watch</a> which hardly suggests that our demographic markets are actually booming.
In some ways I agree with Robert Gottliebsen’s comments in Business Spectator this week "<a target="_blank" href="https://www.propertyobserver.com.au/news/robert-gottliebsen-forecasts-mother-of-all-dwelling-booms-driven-by-property-investors/2013081864307?utm_source=po&amp;utm_medium=aida&amp;utm_campaign=news" title="Beware of the mother of all housing booms.">Beware of the mother of all housing booms</a>":
<a target="_blank" href="https://www.businessspectator.com.au/article/2013/8/13/economy/beware-mother-all-housing-booms" title="Beware of the mother of all housing booms."></a>“If we are not very careful Australia is going to have the mother of all dwelling booms. What we are seeing is a three – pronged boost to prices. First is a dramatic push to lift the demand for dwellings by banks offering cut mortgage rates thanks to the Reserve Bank Governor Glenn Stevens. But second, and just as importantly, there is reluctance by banks to fund new supply. In any commodity if you inflate demand and squeeze supply, prices go through the roof. Thirdly taxpayers will subsidise the boom via a massive increase in the use of negative gearing via both personal and superannuation tax breaks.”
Again it should be noted that investors (in the vast majority of instances) only invest within the lower end of the market so we don’t expect to see this resonate through to the top – end markets. BIS Shrapnels' Angie Zigomanis said that <a target="_blank" href="https://www.propertyobserver.com.au/new-south-wales/rental-and-price-growth-to-drive-more-investors-to-sydney-inner-city-apartment-market-bis-shrapnel-s-angie-zigomanis/2013072363162">rental and price growth will drive more investors to Sydney inner city apartment market.</a>
<a href="https://www.rwm.com.au/files/2013/08/10-08-2013-11-51-00-AM.jpg"><img height="321" width="470" src="https://www.rwm.com.au/files/2013/08/10-08-2013-11-51-00-AM.jpg" alt="10-08-2013 11-51-00 AM"></a>
Which then permits the next school of thought to enter the property debate.
As <a target="_blank" href="https://www.theage.com.au/business/china-slowdown-threat-to-house-prices-sp-20130813-2rtur" title="China slowdown threat to house prices: S&amp;P">China's slowdown poses a threat to house prices</a>, Australia’s banks’ credit ratings would be cut by up to two notches and house prices would fall by 25% if China’s economy were to slow sharply, Standard &amp; Poor’s says.
Well that could be true to an extent although I would also add that presently certain Australian property markets are experiencing unprecedented investor action.
Having said that Australia’s four major banks currently hold 80% of Australia’s banking assets and a staggering 88% of residential mortgages.
In the meantime <a target="_blank" href="https://www.propertyobserver.com.au/news/lower-bad-debts-and-stronger-profit-margins-on-loans-trigger-cba-s-record-%2478-billion-profit/2013081464201">lower bad debts and stronger profit margins on loans trigger CBA’s record $7.8 billion profit</a> – just take a look at how the CBA has performed since the Global Financial Crisis:
<a href="https://www.rwm.com.au/files/2013/08/14-08-2013-2-23-32-PM.jpg"><img height="263" width="470" src="https://www.rwm.com.au/files/2013/08/14-08-2013-2-23-32-PM.jpg" alt="14-08-2013 2-23-32 PM"></a>
Now take a look at <a target="_blank" href="https://www.theage.com.au/business/investors-are-bracing-but-iron-ore-price-stays-steady-20130811-2rq7z" title="investors bracing, but iron ore price stays steady">investors bracing, but iron ore price stays steady</a> this time last year the iron ore price was in a dramatic free fall hitting a September low of $US86.70 ($94.10).
The iron ore price has been creeping higher since late June, and spent most of last week in a positive trajectory towards $US133.10 ($144.45) per tonne; a very comfortable price for most Australian miners, made even better by the local currency trading well below parity.
<a href="https://www.rwm.com.au/files/2013/08/12-08-2013-9-43-11-AM.jpg"><img height="253" width="470" src="https://www.rwm.com.au/files/2013/08/12-08-2013-9-43-11-AM.jpg" alt="12-08-2013 9-43-11 AM"></a>
 
<hr class="system-pagebreak">
But wait, there’s more, a <a target="_blank" href="https://www.propertyobserver.com.au/land/new-home-building-recovery-at-risk-of-running-out-of-steam-hia/2013081364196">new home building recovery is at risk of running out of steam</a>, according to the HIA.
HIA estimates housing starts rose 8.3% last financial year to 157,108 following two consecutive years of decline.
Yes, decline, so it is hardly neither likely nor credible that we will see any sort of property crash. After all if we were going to see the mother of property collapses we would have as a result of the GFC which turned out to be a correction not a crash. Then again some will no doubt argue this was in fact a crash.
Whilst on crashes the only crashes we have seen of late within our Mosman, Cremorne and Neutral Bay real estate markets has been a crash in volumes not prices.
For the very first time in 13 years of Virtual Realty News we missed a couple of editions when I was overseas so let’s catch – up.
On July 12 Mosman recorded its lowest ever number of houses on the market at 59, which then moved to 64, 68, 76, 88 and this week 85.
Apartments went from 61, 62, 68, and 62 to 59 this week.
In Cremorne houses went from 7, 5, 6, 8, 7 to 3 this week – the lowest ever number.Cremorne apartments recorded 15, 18, 17, 18, and 20 to 17 this week.
Neutral Bay houses 5, 7, 8, 11, 12 and 11 this week. Neutral Bay apartments 34, 28, 26, 28, 34 to 30 this week.
MOSMAN – 2088
• Number of houses on the market this time 2012 – 89
• Number of houses on the market last week – 88
.Number of houses on the market this week – 85
• Number of apartments on the market this time 2012 – 85
• Number of apartments on the market last week – 62
.Number of apartments on the market this week – 59
CREMORNE – 2090
• Number of houses on the market this time 2012 – 12
• Number of houses on the market last week – 7
.Number of houses on the market this week – 3
• Number of apartments on the market this time 2012 – 15
• Number of apartments on the market last week – 20
.Number of apartments on the market this week – 17
NEUTRAL BAY – 2089
• Number of houses on the market this time 2012 – 15
• Number of houses on the market last week – 12
.Number of houses on the market this week – 11
• Number of apartments on the market this time 2012 – 46
• Number of apartments on the market last week – 34
• Number of apartments on the market this week – 30
Source: Australian Property Monitors
<a href="https://www.rwm.com.au/files/2013/08/15-08-2013-4-27-07-PM.jpg"><img height="269" width="470" src="https://www.rwm.com.au/files/2013/08/15-08-2013-4-27-07-PM.jpg" alt="15-08-2013 4-27-07 PM"></a>


<hr>
Robert Simeon is a director of <a title="RWM" href="https://www.rwm.com.au/" rel="nofollow" target="_blank">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 title="Virtual Realty News" href="https://www.rwm.com.au/news/" rel="nofollow" target="_blank">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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Despite Sydney's auction clearance rates, the demographics are not booming: Robert Simeon

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The legendary Easybeats band member, Harry Vanda is selling his Rose Bay harbourfront home after three decades and its already, not-unexpectedly, attracting Chinese buying interest.
<a href="https://www.richs.com.au/properties/residential/House-NSW-Rose+Bay-114853927" target="_blank">It comes with hopes of $20 million plus</a>.
He bought the 830 square metre Bayview Hill Road property in early 1983 for $667,500 with his wife, Robyn and then built the five-bedroom, four-bathroom brick house.
It was bought from Dr Peter Duke and his wife, Meryl.
The three level, dress circle property has been listed through Paul Rich of Rich's Double Bay.
"It's wonderful opportunity to secure an exceptional waterfront home situated in a magnificent internationally recognised position," he said of its postcard perfect view towards the Sydney Harbour Bridge and Opera House.
It had been listed last October through McGrath Estate Agents who didn't find a buyer. 
Mystery still surrounds the nearby sale earlier this year by the veteran technology investor Neill Miller for a rumoured $30 million on extended settlement terms.
There was no public marketing of the contemporary Rose Bay abode built on the harbourfront reserve location at the base of the steep cul-de-sac sandwiched between the Kambala and Kincoppal-Rose Bay schools.
The land was bought for $7.75 million in 2002 along with a $3 million acquistion in 2005 of a portion hived off from Sacred Heart convent land holdings.
Their dress circle property is close to the $15 million sale recorded last year when the Anne Lewis harbourfront house through Ken Jacobs of Christie's International inconjunction with Andrew Livingston of McGrath. 
Harry Vanda and business partner George Young are credited as among the most important members in the Australian music industry - initially as the songwriters of the Australian band of the 1960s, the Easybeats and then in the 1970s behind the success of the likes of John Paul Young, Stevie Wright, the Angels and AC/DC.
The Easybeats song, Friday on My Mind was voted the best Australian song of all time at the 2001 Australasian Performing Rights Association awards.
 
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jchancellor-FAypfDUnLy

Muso Harry Vanda lists $20 million Rose Bay harbourfront

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Chapel Street has regained favour with retailers after a quiet leasing period, according to real estate agents Fitzroys.
Fitzroys City retail team leasing executive Michael Rainey said there has been a resurgence in enquiries for spaces along Chapel Street, South Yarra, Prahran and Windsor, led by high-quality fast-food and fashion operators.
“Chapel Street is quickly becoming a fast food destination with recent deals done with Mexican restaurant Fonda at 144 Chapel Street, Windsor, and the popular American ice creamery Ben &amp; Jerry’s, opening their first Melbourne store at 151 Chapel Street, Windsor,” he said.
The increase in enquiry from food operators has typically been in the slightly lower rental pockets, such as Vietnamese restaurant Miss Chu opening up a site at 276 Toorak Road, South Yarra.
<img alt="south-yarra-retail-aug-21-two" height="314" width="470" src="/images/stories/2013/08/south-yarra-retail-aug-21-two.jpg">
Other retailers moving into Chapel Street include American hot-dog specialist Massive Wieners expanding into 226 Chapel Street, with plans for 24-hour operation.
Fitzroys city retail has also overseen French macaron manufacturer A La Folie move into 589 Chapel Street, and fast-growing health juice operator Press Juices has taken up Shop 4, 286 Toorak Road, South Yarra.
International Chinese tea retailer Quali-T has leased 173 Toorak Road.
Mexican concept chain Zambrero’s has also recently taken up 374 Chapel Street, South Yarra, with the organisation matching their meals served with donations to their own charity.
In the Prahran area, Fitzroys has overseen UK menswear retailer Peter Werth move into 216 Chapel Street, and Cotswald Furniture is opening in High Street.
Rainey said the Peter Werth deal followed an increase in the number of fashion operators taking space in the edgier section of Chapel Street in recent years. Popular brands Jack London, Gorman, White Suede and Dangerfield have all taken up space in the area.
Rainey added that South Yarra was showing once-in-a-generation opportunities for retailers to look beyond the cycle and secure high quality shops on long-term leases that have not been available for decades.
<img alt="south-yarra-retail-aug-21-one" height="314" width="470" src="/images/stories/2013/08/south-yarra-retail-aug-21-one.jpg">
“Landlords are meeting the market where required and the resurgence in enquiry over the past few weeks and months should see most stock leased within a short time frame.”
“The fundamentals of the strip remain quite healthy.”
He said rents on Chapel Street typically ranged from $1,000 to $1,500 per sqm, and Toorak Road from around $600 to $800 per sqm.
The South Yarra end has been working through rental adjustments from the highs of 2007/08, perhaps to the benefit of the Prahran and Windsor parts of the strips, which have seen some new retail faces with leases to IGA and a major bar and restaurant soon to be announced.
Fitzroys senior manager Charles Emmett said many of these groups were gearing up to serve the surge in local population attributable to the high volume of apartments going up in Forrest Hill, as well as the old warehouse sections to the back of Chapel Street, South Yarra and Prahran.
He said rents in the Prahran section of Chapel Street were currently between $700 and $900 per sqm.
Fitzroys’s city retail team is now leasing the former Bettina Liano shop at 471 Chapel Street, South Yarra, as well as the ex-Puma site at 514 Chapel Street, South Yarra.
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dleow-BGaNPbHWyK

Chapel Street regains retail interest: Fitzroys

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Selling in winter made a lot of sense this year, but the emerging big jump in auction numbers will shortly test the depth of the market place.
There are plenty of early birds putting their properties to auction on Saturday August 31, 2013.
Sydney has a record 500 plus vendors jumping in before spring officially starts and Melbourne has 700 plus vendors over the next two weekends, according to Australian Property Monitors.
Especially in Sydney, these numbers are substantially higher than in any recent year, with Property Obverver tracking back to winter 2008.
On the last Saturday of winter 2012 there were 300 auction offerings in Sydney and 520 in Melbourne.
On the last winter Saturday in 2011 there were 375 auctions in Sydney and 560 in Melbourne.
In 2010 there were 430 in Sydney, and with Melbourne then an auction powerhouse there were 720 offerings in Melbourne on that last August Saturday in 2010.
Sydney had 300 and Melbourne 650 listings on August 29, 2009.
Sydney had 300 and Melbourne 550 listings on August 30, 2008.  
The August 31, 2013 push is, in part, a reaction of vendors seeking to avoid the clash with the September 7 federal election.
September, while the official start to the spring selling season, is a tricky month given there are the interuptions of the grand final weekend, especially in Melbourne, and also school holidays. 
So yes the winter property season does bring a new set of challenges for both buyers and sellers. But winter can still present terrific opportunities to sell. And the season doesn't stop plenty of people out there looking for homes to live in.
It was mid-June this year when the sage John McGrath suggested the selling climate was "as good now as it was in autumn or will be in spring."
He was certainly spot on about the ensuing two months. But I'm not convinced will he necessarily be as right about the tail end of this spring?
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Selling in winter made a lot of sense this year

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Lawyer Elisa Robinson and husband Scott have listed their Richmond home for August 31 auction.
Located at 11 Gough Place, the three-bedroom home is listed with a $870,000 plus price guide.
The property features a corian stone kitchen, polished floorboards and a private deck.
It is listed with Elliot Gill and Jodie McCarthy of J<a href="https://www.jelliscraig.com.au/index.cfm?objectid=6F101E48-D453-ADC5-E012FA57B54C1023&amp;pid=20082#.Ug112uBAt6o" target="_blank">ellis Craig Bennison Mackinnon.</a>
The median house price in <a href="/news">Richmond</a> is $769,000, a 10.6% change in five years, according to RP Data.
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Lawyer Elisa Robinson and husband Scott have Richmond home for August auction.

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The Melbourne corporate lawyer Guy Jalland has bought a slice of the Oxley Bushells tea, Darling Point family estate on the Darling Point harbourfront.
Around $8.75 million was secured for the property last traded in the 1970s as one of three houses bought around their historic holding, Carthona.
The two-storey house comes with four bedrooms, an office and three Art Deco bathrooms.
It sits on a 1,087-square-metre Sutherland Crescent block, having been built in the 1930s. It retains terrazzo finishes, curved feature windows and solid-timber joinery. Its lounge, dining and family areas take advantage of the harbour views. There is also an interior courtyard.
Its garaging once made the headlines given its distinctive Glenn Murcutt style. Murcutt also undertook some alterations to the house during the late 1980s.
Guy Jalland has been a longtime adviser to James Packer including being general counsel of Publishing &amp; Broadcasting Limited from 2004 to 2007.
He has also been a director of the Melbourne Football Club until his July 2013 resignation.
Jalland recently sold his Dawes Point, Sydney apartment for $3.05 million through McGrath Estate Agents. It was bought in 2009 for $2.3 million from the McCuaig family.
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Corporate lawyer Guy Jalland buys $8.75 million Darling Point harbourfront

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ANZ Banking Group has posted a cash profit of $4.8 billion for the first nine months of the financial year, up 11%, but it says revenue growth was slower than last year.
Revenue rose 5% in the nine months to June 30 while expenses fell 0.5% and provisions for bad debts fell 2%. This helped mitigate a squeeze on lending profit margins caused by low interest rates.
It reported unaudited statutory profit increased 7% to $4.7 billion, from the same period last year.
The growth was largely put down to its expansion in Asia and tightening of costs.
"During the year we have continued to make steady progress with out super regional strategy," chief executive Mike Smith said in a statement.
“We have produced consistent revenue growth with diversification benefits from our exposure to growth markets in Australia and in Asia.
At the same time, we are continuing to actively manage efficiency in every area of the business with a focus on improving productivity and capital utilisation.
He says consumer confidence should increase in the coming months while he played down concerns about China's growth.
"Although the economic outlook in Australia has softened somewhat, there is cause for greater optimism in the medium term as the effect of lower interest rates, a more competitive currency and the removal of some pre-election uncertainty underpin consumer confidence and economic activity."
"In Asia, we believe concerns about growth in China have been overdone. Although there is a rebalancing taking palce in China and there may be volatility associated with this, we need to remember that the world's second largest economy is still growing at around 7 to 7.5%."
In Australia ANZ said there is good momentum in commercial lending and deposits as well as in retail mortgage and deposits while household lending has grown above system for 14 consecutive quarters.
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ANZ posts $4.8 billion profit

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Property lecturer Peter Koulizos forecasts that all capital cities, with the possible exception of Hobart, should have new record high property prices sometime during 2014.
Australian Bureau of Statistics data shows property prices are on the rise from their global financial crisis lows but Koulizos says we still have some time to go.
 “Even though all capital city prices are on the way up, not all property prices are above their previous high. Sydney, Perth and Darwin have record high property prices but all the other capital cities still have a little way to go before they pass their previous peak,” he blogged on API Magazine.
“I forecast that all capital cities, with the possible exception of Hobart, should have new record high property prices sometime during 2014.
“Yes, the worst is over but in my opinion we still have a little way to go before we can all breathe a sigh of relief.”
But he says historically low interest rates will ensure property prices should bounce back quickly.
According to the ABS the different capital cities experienced their global financial crisis lows at different times.
Darwin was the first hit in June 2011 quarter, followed by Canberra and Perth in September 2011 quarter. Next was Sydney in the December 2011 quarter. Brisbane was next hit in the June 2012 quarter, followed by Melbourne and Adelaide in the September 2012 quarter and finally Hobart in the December 2012 quarter.
 Click to enlarge
<a title="Click to enlarge" href="/images/stories/2013/08/abs-chart-aug-13-large.gif" rel="shadowbox"><img src="/images/stories/2013/08/abs-chart-aug-13-small.gif"></a>
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Property prices to return to pre-GFC highs in 2014, except Hobart: Peter Koulizos

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Will our property markets blossom this spring or will the federal election keep a lid on confidence?
Well, the election result will be known very soon, confidence will be rising, interest rates will remain low and affordability will be the best for many years. All this suggests we’re in for some good times, so it’s probably opportune to do a whip-round Australia and see how property is performing. 
What the stats show: Our capital city housing markets bottomed out around May last year and RP Data <a target="_blank" href="https://www.rpdata.com/research/housing_values_continue_to_move_higher_in_july">reported</a> that capital city dwelling values rose in all capital cities other than Hobart over the last year. Not surprisingly, once again our capital cities significantly outperformed regional property markets.
 <img alt="yards-aug-15-chart-small" src="/images/stories/2013/08/yards-aug-15-chart-small.gif" width="470" height="194">
Source: RPData
House prices are rising in part because Australia's permanent population jumped by close to 400,000 people last year – that's enough people to populate a city the size of Canberra or Newcastle. That along with rising consumer confidence and lower interest rates means higher housing demand, more construction, better job prospects and a boost to our economy.
What these big picture figures don’t show is how fragmented our markets are with different states, different price points and different types of properties behaving differently.
Major property markets in a little more detail:
 Sydney: Median house price: $645,000; 7.3% increase in last 12 months. Median unit price: $500,000; 3.2% increase in last 12 months. Vacancy Rate: 1.9%
The Sydney market continued to perform strongly with house prices now at record levels, and it’s likely that prices will continue climbing.
The Harbour City market is strong because jobs are being created there. In fact half the new jobs created in Australia last year were in New South Wales and most in Sydney.
While first home buyers are still sitting on the sidelines, and the top end of the market is still suffering from an oversupply of property relative to the reduced demand, gentrified suburbs within close proximity to the city, transport, amenities and infrastructure are performing well.
In particular, well-located apartments in the inner western suburbs and Sydney’s eastern suburbs are being snapped up by investors and owner occupiers at hotly contested auctions, according to George Raptis, director of <a target="_blank" href="https://www.sydneybuyersagent.com.au/">Metropole Property Strategists in Sydney</a>.
“The high auction clearance rates we’ve experienced over the last few months are a sign of how strong certain segments of the market are. In particular, investors are actively chasing well-located properties attracted by high yields and the prospects of strong capital growth. With 21% less stock on the market for sale than 12 months ago and a shortage of good quality properties amongst those properties for sale, I can see Sydney prices continuing to rise,” says Raptis.
 
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Melbourne: Median house price: $530,000; 4.4% increase in last 12 months. Median unit price: $435,000; 3.1% increase in last 12 months. Vacancy Rate: 2.9%
Melbourne has been the surprise performer over the last year, but different segments of the Melbourne housing market are at different stages of the property cycle.
While there is still an oversupply of property at the top end, there is more competition for properties in the middle range of the market where there is a shortage of well-located properties. This has been evident in strong auction clearance rates this year – usually in the 70% range – while this time last year it was in the 50% range.
But there are some segments of the Melbourne property market to avoid.
“There is a significant oversupply of newly built house-and-land packages in Melbourne’s outer northern and western suburbs where buyers are showing a preference for two to three-year-old homes which can be bought considerably cheaper than new stock” said Keith Franklin, of <a target="_blank" href="https://www.melbournebuyersagent.com.au/">Metropole Property Strategists in Melbourne</a>,
“There is also an oversupply of inner-city CBD apartments and there are many more apartments coming on stream in the next few years at a time when there is less demand from the tenant demographic that rents in the CBD,” adds Franklin.
“Currently, there are some good investment opportunities buying established apartments in Melbourne’s southern or eastern suburbs and adding value through renovations” he says.
Brisbane: Median house price: $450,000; 1.0% increase in last 12 months. Median unit price: $373,500; -0.3% decrease in last 12 months. Vacancy Rate: 2.1%
House prices in Brisbane started to turn last year but have only risen 1.7% from their lowest point. This is in part because Brisbane’s economy is struggling to recover from the significant job-shedding of last year.
Having said that, there’s not one Brisbane market – there are many individual markets and these markets are fragmented.
While buyer activity in Brisbane’s outer suburbs remains subdued, sales of homes in inner-ring established suburbs continue to show signs of improvement. Houses are starting to sell faster and the number of property transactions is 13% higher than last year – all signs the market has bottomed
Prices are still falling in Ipswich (-3.2) and Caboolture (-6.1%), while Logan and Redlands regions are exhibiting minimal growth, but there are good investment opportunities buying a home on a good block of land in Brisbane’s inner and south-east inner suburbs which have had stronger growth and a resurgence of buyer activity.
 
<hr class="system-pagebreak">
Perth: Median house price: $510,000; 8.8% increase in last 12 months. Median unit price: $415,000; 1.6% decrease in last 12 months. Vacancy Rate: 1.5%
The Perth housing market continues to rise on the back of a strong local economy, record levels of interstate migration into Western Australia, increasing confidence and strong buyer activity.
According to Damian Collins director of <a target="_blank" href="https://www.momentumwealth.com.au/">Momentum Wealth</a>:
“The activity is still concentrated around the median price, with many first home buyers still active and competing against investors for properties under $500,000.
“With around 9000 properties for sale this is below what is considered to be a balanced market. Our buyer agents are seeing this on the ground, with multiple offers on a number of properties. The low interest rates and high rental prices have encouraged many people to move from the rental market into home ownership and we have seen a subsequent increase in rental vacancy rates, where the vacancy rate has increased to over 3% and rents have declined slightly. The higher prices and lower rents have meant that the average yield for investors has come back to around 5%.
“There have been some significant changes to the residential planning codes in Perth.
“From August 2, ancillary accommodation, commonly known as “granny flats”, can now be built and rented separately. This is a strong opportunity for investors to increase their rental returns with an average yield on a separately rented house and granny flat likely to be over 7% in quality areas within 15kms of the CBD.
“Also the changes to the residential planning codes have further increased development opportunities for apartments and there are currently strong margins on development projects.
“Overall the Perth market is still in growth mode, however, with the recent run up in prices and lower rents, we expect market growth to be at a slower rate, but still strong opportunities in some areas. Investors need to be selective in their property choices and consider opportunities to create their own growth through renovations and development.”
Adelaide: Median house price: $395,000; 1.7% increase in last 12 months. Median unit price: $332,500; 5% decrease in last 12 months. Vacancy Rate: 1.6%
Adelaide's housing market has essentially done nothing since the beginning of 2008, in line with its underperforming economy, but there are now signs of a gradual recovery in buyer activity.
Darwin: Median house price: $520,000; 0.7% increase in last 12 months. Median unit price: $457,500; 6.0% increase in last 12 months. Vacancy Rate: 0.8%
The Darwin property market was the strongest performer for a few years, fuelled by strong investor sentiment, but the excitement seems to be over (at least in the short term.) I’ve always found investor-driven markets more volatile than our big capital cities and that’s why I avoid them.
 
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Hobart: Median house price: $315,000; 0.0% increase in last 12 months. Median unit price: $270,000; -4.7% decrease in last 12 months. Vacancy Rate: 2.5%
The Hobart housing market is showing early signs of stabilising after a prolonged period of subdued activity.
Canberra: Median house price: $555,000; 4.5% increase in last 12 months. Median unit price: $457,500; -0.8% decrease in last 12 months. Vacancy Rate: 1.7%
The Canberra housing market is slowly showing signs of activity after a flat period for much of the last year.
Source of Data: <a target="_blank" href="https://rpdata.com/">RPData,</a> <a target="_blank" href="https://sqmresearch.com.au/graph_vacancy.php?region=nsw%3A%3ASydney&amp;type=c&amp;t=1">SQM Research</a>
What next?
The overall fundamentals for property are sound and our property markets should keep consolidating.
Interest rates are likely to drop one or two more times as our economy hits a few more speed bumps causing unemployment to rise a little.
But, generally, our household budgets are in good shape as we’ve been consolidating our debts, and once the uncertainty of the election is out of the way, people will start getting on with their lives.
Our population is growing strongly and almost everyone who wants a job has a job. People are still getting married, having babies, moving interstate or getting divorced – they all need accommodation.
We’re in the early upturn stage of the property cycle in most states and buyers are returning, slowly taking up available stock and gently pushing up prices in the middle price range.
However, these purchasers are being very selective. Well-located, well-priced properties are selling, but properties in secondary locations or those in areas of oversupply are languishing.
The prestige end of the market, which has been hit hard over the last five years, will also slowly improve as our economy and business sentiment picks up.
Rising consumer confidence, low interest rates, a stable economy, rising rents and more good news in the media are likely to augur well for our property markets this year.
 
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But you can’t just buy any property.
Home buyers and investors will have to do careful due diligence – they won’t have booming property prices to cover up mistakes.
This means they will need to buy the right type of property…
One that has a level of scarcity, meaning it will be in continuous strong demand by owner occupiers (to keep pushing up its value) and tenants (to help subsidise your mortgage); in the right location (one that has outperformed the long-term averages), at the right time in the property cycle (that would be now in many states) and for the right price.
Then hold it as a long-term investment and reap the rewards.
Want to know what I’ve been up to and what I’m buying?
I’ll be explaining what I’m doing and, just as importantly, what I’m not doing at our upcoming <a target="_blank" href="https://propertymarketupdate.com.au/">Property &amp; Economic Market Update one-day trainings</a> I will be holding around Australia in August and September.
I won’t be conducting similar seminars until well into next year, <a target="_blank" href="https://propertymarketupdate.com.au/">so please click here now</a> and get the full details and reserve your place. I’ll be joined by various local property, tax and finance experts in each state.
We plan to give you straight-forward, no nonsense, practical steps and honest answers to improve your property performance this year and into the future. To reserve your place or to find out more, <a target="_blank" href="https://propertymarketupdate.com.au/">simply click here now</a> and I’ll give you my personal guarantee your time will be well spent. I’m looking forward to seeing you on the day.
Michael Yardney is a director of <a href="https://www.metropole.com.au/" rel="nofollow">Metropole Property Strategists</a>.
 
 
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Remember you can’t just buy any property - and what are the capital city property markets really doing? Michael Yardney

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He's not officially as Aussie buying abroad, but host of Channel Nine's The Voice, Darren McMullen, has purchased a 19th century restored water mill in south-west France known as Le Petit Moulin.
McMullen took to his Instagram to announce the news, calling the new home “paradise”.
Located in Salies-de-Bearn, the three-bedroom character mill was listed for €346,500, approximately $506,099.
The mill stream is approximately 100 metres long and is relatively simple to maintain.
Listing agent Joanne Davey says the property has barely been occupied since the renovations, so the work is fresh and untouched.
The property has been furnished by an interior designer, with the option to purchase the furniture through a separate transaction.
The Scottish born McMullen is currently based in Europe working on a travel show for National Geographic.
Le Petit Moulin was listed through <a href="https://www.frenchcharacterhomes.com/properties/water-mill-for-sale-south-west-france/" target="_blank">Joanne Davey of French Character Homes</a>.
You can also read <a target="_blank" href="https://www.propertyobserver.com.au/news/five-tips-for-aussie-s-buying-abroad-in-france/2013081564264?utm_source=po&amp;utm_medium=aida&amp;utm_campaign=newsplus">five tips for Aussie's buying abroad in France</a>. </body></html>

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