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“Minister Chanthivong and his team have shown real leadership in replacing an outdated two-year bond with cover that matches the lifespan of the buildings people are buying into.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

Former Wallabies coach Bob Dwyer and his wife Ruth have listed Two Gates Farm, East Kangaloon in the New South Wales Southern Highlands with&nbsp;$5 million plus hopes.

Set&nbsp;on 40 hectares, the property features a Richard Rowe-designed home in&nbsp;Annie Wilkes-designed gardens.

The&nbsp; four bedroom solar passive home comes with a self-contained guest quarters. There&#39;s a&nbsp;swimming pool and tennis court. Its bordered by lush pastures bordered by dry-stone walls and&nbsp;remnant rainforest.

The couple&nbsp;purchased the land in 2002 for $865,000, shortly before the&nbsp;World Cup winning coach&nbsp;resigned as a rugby coach in 2003.

The down sizing couple have&nbsp;purchased a $550,000 three-bedroom Bowral house, with a view over Bowral gold course,&nbsp;which had been for sale since late 2011 at $670,000.

The property is listed through Drew Lindsay of Drew Lindsay Real Estate.

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Former Wallabies coach Bob Dwyer lists Southern Highlands home

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Many young potential property buyers are willing to forego a first-home owners grant in favour of buying an investment property as opposed to a home, according to a Mortgage Choice survey.
More than 40% of generation Y respondents to the first time property investors survey said that their planned investment property will be their first ever property purchase.
Most generation Y respondents, born between 1980 and 1994, were motivated to purchase their first investment property by the need to set themselves up financially for the future.
"Gen Ys appear to be financially switched-on and are focusing on property investment,” says Mortgage Choice’s Belinda Williamson.
Almost half of respondents said there is a perception that there is more benefit in investments such as property over the share market.
"This younger generation of investors is looking for financial freedom and they see more profit in bricks and mortar investments," Williamson says.
They are willing to make a number of sacrifices in order to realise their purchase though, with 18% of respondents willing to take on another job to make the purchase, while 41% said they would miss out on a holiday.
"Finding the right property is half the challenge for most investors; the other half is saving the deposit and settling on an investment strategy that will help them to achieve their goals," Williamson says.
"Our survey shows 75% of Gen Y first time investors were choosing to make lifestyle sacrifices to help them achieve their property goals. The top five lifestyle sacrifices included cutting back on general day to day spending, eating out less and limiting take-away food, missing out on a holiday, delaying a vehicle purchase and last but not least, cutting back on alcohol related expenses."
Photo courtesy of <a id="yui_3_7_3_3_1376553138701_895" href="https://www.flickr.com/photos/pistruiatu/">pistruiatu</a>/ flickr.
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Gen Y willing to skip first-home owners grant to buy an investment property

At Bangalow in the Byron Bay, NSW hinterland, there&#39;s $3.3 million hopes held by&nbsp;David Daniel, co-founder of CanPrint, and his wife, Debbie for their&nbsp;modern Queenslander, Cedargrove.

Its set on a&nbsp;4.5 hectare holding.

With an easterly aspect, the four-bedroom house has a wrap-around verandah with 300 degree views of the&nbsp;hinterland.

<a href="https://www.uniqueestates.com.au/Sales-Detail.aspx?id=ue321&amp;wlid=7bef62d1-289d-442f-a931-fe100f418c99" target="_blank">The&nbsp;2008&nbsp;home </a>has a home theatre.

The estate includes two spring-fed dams suitable for swimming, plus&nbsp;an infinity lap pool with an outdoor entertaining area and a resort-style cabana.

Nicolette van Wijngaarden of Unique Estates holds the listing.

jchancellor-FAypfDUnLy

Cedargrove, Bangalow listed with $3.3 million hopes 

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Two retail units in Victoria’s Falls Creek ski village have been offered for sale with marketing towards owner occupiers or investors.
The first is a 952 square metre shop leased to Falls Creek Ski Lifts on a nine year lease worth $450,000 a year plus GST.
<img alt="falls_creek_aug_28_one" height="353" width="470" src="/images/stories/2013/08/falls_creek_aug_28_one.jpg">
It houses a ski hire shop, a board lounge and the Apres Vous ski apparel shop.
The second is two ground floor lots totalling 105 square metres being sold in one line.
The units are part of the St Falls Quay West Development in the Falls Creek village.
They are being sold by Christa Zirknitzer of RT Edgar Alpine in conjunction with Ray White Commercial.
“The two units are ideally situated in the ski in, ski out public traffic zone of the retail ski village, offering exposure and positioning for retail activities,” Zirknitzer says.
Zirknitzer did not disclose any price guide for the <a href="https://www.fallscreekretail.com.au/">properties</a> which are being sold by tender ending September 2.
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Two retail offerings in the Falls Creek ski village 

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Expectations that the Melbourne property market will enter a period of sustained downturn after being one of the strongest performing capital city housing markets, post-GFC, have not come to fruition.
The most recent RP Data-Rismark report to the end of July has Melbourne dwelling values up 6.8% since the housing market bottomed out in May last year.
While concerns remain for certain sectors of the market, such as the oversupplied Docklands apartment market and house and land estates on the fringe, the overall trend appears upwards.
Housing trends:
Indeed the market is performing better than most predicted, though the extent of the improvement depends on where you source your data.
The most recent report released by Australian Property Monitors (APM) has the Melbourne median house price up 5% over the June quarter to $554,000 and 6.1% year-on-year.
Unit prices have grown more modestly, up 3.7% over the June quarter and 4.2% year-on-year to a median price of $412,000.
Putting this into context, both sectors of the residential market have already far exceeded APM’s own forecast of between zero and 3% for Melbourne over the entire calendar year.
The Real Estate Institute of Victoria recorded a 2.4% increase in Melbourne house prices over the June quarter to $562,000 – 8.4% up on the same quarter last year with unit prices up 2.8% and 5.7% respectively to $464,500.
July figures from RP Data- Rismark (one month ahead of the other providers) has Melbourne house values up 2.5% over the July quarter to $530,000, and up 4.4% over the previous 12 months with units up a more modest 1.2% for the quarter and 3.1% year-on-year with a median value of $435,000.
Removing the dissonance in the data due to different methodologies the clear trend is of an upward momentum in the Melbourne housing market.
Commenting on the APM figures, senior economist Andrew Wilson says of the Melbourne housing market that it “continues to benefit from low interest rates and restored confidence, with solid buyer activity continuing this year”.
“Sales activity continues to be generally spread between price sectors and regions, with investor activity also on the rise."
“An increase in first-home buyer activity was generated by the recent changes to the state government grant, which expired for the purchase of established properties at the end of June, bringing forward significant demand."
Other property data also points a strong market with the auction clearance rate in June at 69% compared with 55% a year ago, and the average discount to secure a sale falling from 7.7% to 6.6% over the past 12 months to June.
RP Data records that it takes 44 days for a Melbourne house to sell and 51 days for a unit to sell – a little bit longer than Sydney (33 days and 31 days respectively) but quicker than it takes to sell a house or unit Brisbane, Adelaide, Perth, Hobart or Darwin.
Other figures also suggest a modest upswing with 4% home loan growth over the first five months of the year to owner occupiers, above the national average of 2.5%, according to seasonally adjusted ABS data.
But putting this into context, NSW recorded a 13% rise in housing finance from January to May while Queensland managed 9.1%.
The most recent dwelling approvals data recorded a 24% fall over June, though this may be due in part to changes in first-home buyer grants favouring those buying new homes only from July 1 - though the overall longer term trend is a declining one for units with Melbourne coming off its peak apartment development phase in areas like Docklands, the city and Southbank.
Hotspotting.com.au’s Terry Ryder says the figures coming out of Melbourne are “no indication” of a real estate boom but that the market is rising at a steady and sustainable pace.
 
<hr class="system-pagebreak">
Economic trends:
Broader factors – economic growth unemployment, population growth, retail spending - all impact on demand or appetite for residential property.
In this regard, Victoria is performing adequately on some measures while poorly on others.
Importantly, the state’s population – a key driver of housing demand - is expanding by 1.8% per annum in line with the national average.
Victoria’s unemployment rate increased from 5.4% in May to 5.8% in June, just above the national figure of 5.7% and above that of NSW (5.4%) and Western Australia (4.6%) but lower than Queensland (6.4%), South Australia (6%) and Tasmania (8.9).
Annual retail sales growth is weak, up 0.8% in Victoria compared with 2.9% nationally while the Victorian economy is only expanding at 0.9% per year compared with 3.7% national GDP growth.
Putting this all together suggests there are some factors positively impacting on demand for housing and others reducing demand – supporting a moderately improving scenario.
Hits and misses:
Property market analyst Catherine Cashmore calls Melbourne an “unbalanced market” noting that the biggest gains in price have been recorded in the inner and middle regions of the city – principally, the auction-dominated terrains – with the outer suburbs remaining stable.
“It’s not quite the rampant atmosphere experienced in 2007 during which the lending frenzy leading up to the GFC was pushing excessive amounts of easy credit into the market. Prices are still well below their peak and results patchy,” she says.
Cashmore believes a number of economic and social factors have combined to push it well and truly into a sellers' domain.
Figures compiled by APM show that growth in the Melbourne market has been far from uniform with growth ranging from just 1.9% in the far south east to 9.3% in the over the past financial year.
Other strongly performing regions of Melbourne were the inner city (7.3%), west (7.2%) and inner east (6%).
Weaker returns were in the inner south east (3.5%) and north (3.7%)
However, the idea pushed by many market commentators and estate agents that investing in the inner city offers the best prospects for growth is not true, according to Terry Ryder.
He points out that most of the top performing suburbs over the past 10 years are outer Melbourne suburbs led by <a target="_parent" href="/news">Waterways</a> (median house price of $695,000 up 11.8% per annum) and <a target="_blank" href="/news">Narre Warren North</a> (median price of $763,000 up 9.3%) while the weakest markets were <a target="_blank" href="/news">Docklands</a> (median of $618,000 up 2.3%), <a target="_blank" href="/news">Parkville</a> ($606,000, up 2.4%) and <a target="_parent" href="/news">East Melbourne</a> ($655,000, up 3.1%).
 
<hr class="system-pagebreak">
Should you avoid buying an inner city apartment?
Terry Ryder cautions against investing in an apartment in <a target="_blank" href="/news">Docklands</a>, <a target="_blank" href="/news">Southbank</a> or in the city due to an oversupply of new apartments, which he says is only going to get worse.
The vacancy rate in Docklands stands at 7.6%, it’s 8.9% in Southbank and 6.5% in the CBD compared with a Melbourne-wide vacancy rate of 2.9% according to SQM Research data.
Ryder says there are currently 300 apartment projects being marketed in these locations with 35,000 units planned.
“Developers are offering free marina berths, stamp duty rebates, furniture packages to entice buyers,” he says.
Similarly views are held by valuers at Herron Todd White, who in their latest monthly review write that “evidence continues to emerge of an over-supply of units in the development pipeline, particularly in the metro area.
“A large proportion of the demand is coming from overseas. Most foreign buyers are only able to buy off-the-plan, so when it comes to selling your market pool has shrunk considerably.”
So where are the hotspots in Melbourne?
Ryder suggests more affordable locations further out from the city with growing populations, good transport connections to the city and with good employment opportunities.
His recommendations include <a target="_blank" href="/news">Frankston</a>, an affordable Bayside suburb with a median house price of around $330,000 and units at $260,000. The suburb has rail links to the CBD as well a good motor link connections following the opening of the Peninsula Link. Property prices are rising by around 7% per annum.
He also picks the Epping precinct including <a target="_blank" href="/news">Lalor</a>, <a target="_blank" href="/news">South Morang</a>, <a target="_blank" href="/news">Thomastown</a> and <a target="_blank" href="/news">Craigieburn</a> due to their affordability, railway and motor links and job opportunities.
Another good option is <a target="_blank" href="/news">Berwick</a>, which has lower vacancy rates, average growth in house prices of 6.5% per annum and with Casey Hospital, Monash University and TAFE campus providing good employment prospects.
“Steer clear of the inner city apartment market and concentrate on affordable housing markets in the middle and outer ring suburbs,” says Ryder.
Picture of Melbourne courtesy of eGuide Travel.
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lschlesinger-FZcF9M3vE6

Melbourne in the housing spotlight: Are there any spring 2013 hotspots?

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Two businesses have been caught out by the Australian Communications and Media Authority for breaching the do not call register, with businesses warned by the regulator for being “sloppy”.
Investigations by ACMA revealed telecommunications provider Teleus and holiday accommodation deals promoter Flexi Marketing Solutions made calls to numbers on the register.
Both Teleus and Flexi Marketing have accepted enforceable undertakings from the communications watchdog, which stipulates the companies keep comprehensive records of all telemarketing calls they, or call centres, make.
Flexi Marketing has also undertaken to include a term in all future contracts with call centres requiring that they comply with the Do Not Call Register Act.
ACMA investigations manager Julia Cornwell-McKean said that by accepting these undertakings it shows the companies are going to actively ensure they no longer call the disallowed numbers.
“When we get offered an enforceable undertaking it’s up to a business to decide what they wish to offer.”
“In the case of these businesses, they’ve guaranteed to ensure no more calls will be made to people on the do not call register and they will keep comprehensive records. This is really important because they’re going to make the records available to the ACMA whenever we want them to check they’re compliant,” she says.
Almost nine million people have signed up to the act since it came into effect in 2007. In the past year, approximately one million more people have joined the list.
Within this time, ACMA has <a href="https://www.smartcompany.com.au/advertising-and-marketing/053592-call-centre-which-operates-do-not-call-register-cops-110-000-fine-for-breaching-the-register-2">investigated more than 50 businesses</a>, issued 26 formal warnings, accepted 24 enforceable undertakings and issued 13 infringement notices.
Cornwell-McKean says in the past year the watchdog has received 20,000 complaints, but generally most businesses are compliant.
“Of the ones we warn, very few end up as the subject of an investigation.”
“It’s not a new law now, but I think in these cases we’re talking about sloppiness, rather than a lack of awareness. These businesses weren’t watching things as closely as they ought to be and this is also a common thing across the Spam Act,” she says.
In April this year the register sign-up time was <a href="https://www.smartcompany.com.au/advertising-and-marketing/055145-do-not-call-register-extended-for-eight-years-despite-complaints-about-inaccuracies">extended for another eight years</a>, despite complaints about inaccuracies.
Cornwell-McKean says businesses need to actively ensure they are using the most up-to-date lists, as they’re updated every 30 days, or risk reputational damage.
“If you don’t make the calls yourself, make sure you also have control over the third party that does. Make sure you know what they’re doing and can access the calls they mark and maybe even audit them.”
This articel originally appeared on <a href="https://www.smartcompany.com.au/" target="_blank">SmartCompany</a>.
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Flexi Marketing Solutions, the holiday accommodation deals promoter caught breaching the do not call register

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Total housing loan approvals are heading back towards record heights of above $20 billion as Aussies pile back into real estate.
There have been a few reports of the Sydney market going "ballistic" this weekend and silly prices being paid for standard properties (even more so than usual, I mean) at way above reserve prices.
This is not good news for anyone really, unless you're a Sydney vendor who has decided to move to the bush or take a 'seachange'.
Note in the chart below how the increase in housing loan approvals is being driven by investors and repeat buyer owner-occupiers.
The level of first homebuyer (FHB) activity has remained subdued to date.
If market prices continue to increase without a pick-up in FHB activity, this will not be a happy outcome and home ownership levels will naturally decline.
With people tending to move dwelling more frequently than in the past, some younger buyers may elect instead of buying a place of residence, to rent and buy an investment property.
This has the advantage of reducing transaction costs as you don't have to pay stamp duty each and every time you move house, and also allows younger investors to capitalise on Australia's negative gearing tax legislation (although any potential first homeowners grant may be foregone if the property is not lived in by the purchaser).
Younger buyers can be tempted to undertake this strategy in order to get a foot on the housing market ladder.
The downside effect on market forces is that the housing market gradually has a proliferation of investors with a buy-and-hold mindset, which can 'clog up' the existing housing stock for potential homebuyers and possibly push prices upwards.
 <img style="padding: 5px; border: 1px solid #ebebeb; box-shadow: rgba(0, 0, 0, 0.0976563) 1px 1px 5px; font-family: Arial, Tahoma, Helvetica, FreeSans, sans-serif; line-height: 18px;" src="https://www.rba.gov.au/chart-pack/images/5-6-household-sector/6br-hla-small.gif?accessed=2013-08-17-06-35-06" alt="Housing Loan Approvals graph">  
Yet another year of wages growth in Australia has been reported by the Australian Bureau of Statistics.
The slightly slower growth mirrors the slower overall growth in the economy in recent quarters.
As expected, the mining sector effectively led the way with wages growth (although some other sectors such as healthcare also did well, and in the public sector electricity, gas and waste services likewise), while wages in retail trade, education and training and real estate services remained weak.
<a imageanchor="1" href="https://1.bp.blogspot.com/-SwcaDLnj5kM/UgsaXHD4BdI/AAAAAAAAKEE/q94IENOeU3U/s1600/wages.png" style="text-decoration: none; color: #7f7f7f; margin-left: 1em; margin-right: 1em;"><img height="138" width="400" src="https://1.bp.blogspot.com/-SwcaDLnj5kM/UgsaXHD4BdI/AAAAAAAAKEE/q94IENOeU3U/s400/wages.png" border="0" style="border: 1px solid #ebebeb; padding: 5px; position: relative; box-shadow: rgba(0, 0, 0, 0.0980392) 1px 1px 5px; display: block; margin-left: auto; margin-right: auto;"></a>
Source: ABS
In fact, the ABS numbers don't take account of bonuses, so the mining sector is likely to be stronger still.
There are plenty of projects at or approaching the end of the construction phase for which very healthy completion bonuses are handed out (bonuses are not captured by the ABS data which is designed to represent the ongoing trend).
Private sector wages growth of 3.0% year-on-year was slightly higher than public sector growth of 2.9% year-on-year.
Wages growth of 3.0% is not particularly strong, but it is still growth.
As sure as night follows day, there will be people who cite examples of pay rises not being awarded over the last year or two, which obviously misses the point of ABS data.
The ABS selects a representative sample of employees and extrapolates the results to measure changes in the price of wages and salaries in the Aussie labour market. It doesn't expect to recognise that someone's brother's cousin's ex-boyfriend got a pay freeze since June 2011 (except insofar as that is representative of the norm).
So, wages growing at a reasonable enough clip of 3.0% which will continue to push things along nicely.
Pete Wargent is the co-founder of <a href="https://allenwargent.com/" target="_blank">AllenWargent</a> property buyers (London, Sydney) and a best-selling author and <a href="https://petewargent.blogspot.com" target="_blank">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">Four Green Houses and a Red Hotel</a>' is released on 1 September 2013. 
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pwargent-M4siyDbqQY

Silly auction prices not good news for anyone other than Sydney vendors: Pete Wargent

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Consumer confidence was higher in August, according to the Westpac-Melbourne Institute consumer sentiment index, which rose 3.5% as lenders cut mortgage rates.
The result was close to 10% up on a year ago, though still seven per cent below 2010 levels when household respondents were initially optimistic the 2007-2008 global financial crisis had passed.
The latest August 6 rate cut led to a bounce in the outlook for people deciding to possibly buy a dwelling, Westpac's chief economist Bill Evans noted.


The overall 3.5% jump in sentiment was accompanied by a 3.7% rise in those surveyed saying it was a good time to buy a home.

The index had a big jump immediately following the Reserve Bank's easing taking the cash rate to a record low of 2.5%.
"The rate cut is likely to have had a solid positive impact on sentiment," said Mr Evans. 


Westpac expect another rate cut in November.
"Further evidence of the positive response can be found in the response of those folks with a mortgage with their confidence lifting by 7.4%," Mr Evans said.

Responses on spending intentions were mixed as the index of whether it was a good time to buy a major household item dropped 5.5%.
 
 
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Confidence boosted with good time to buy a home outlook rising 3.7% cent: Westpac-Melbourne Institute sentiment index

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Chef Mary Ellis’ The Barn and Cliffys in Daylesford are scheduled to go under the hammer next month.
Cliffys Emporium at 30 Raglan Street has been part of the Daylesford streetscape since the 1860s but has operated as a café, wine bar and produce store since 2001.
The 183-square-metre property (pictured below)  is currently leased until June next year and returns approximately $24,000 per annum – a 4.8% rental yield.
{yoogallery src=[images/stories/2013/08/aug14day2]}
Located directly behind Cliffys is The Barn, a two-bedroom, two-bathroom bed and breakfast created by Mary Ellis 10 years ago.
Located at 1 Wombay Street, The Barn (pictured below) is situated on 362 square metres and offers a business opportunity or a private residence.
{yoogallery src=[images/stories/2013/08/aug14day1]}
A bedroom in The Barn can be booked from $460 for two nights.
Both properties were part of a larger nursery, which was subdivided in July 2008.
The properties will be sold one after the other, with <a target="_blank" href="https://www.abercrombys.com.au/buying_search_results.aspx?GID=520&amp;tp=520SearchResults&amp;Sub=Daylesford,&amp;Order=suburb&amp;Con=S">both properties listed </a>with a price guide each of around $500,000.
Listing agent Jock Langley says a couple of people have been interested in buying both as a package.
Langley says Cliffys has become a bit of an icon in Daylesford and is likely to be retained as a business.
The two properties will go under the hammer on September 8 through Jock Langley and Sam Goddard of Abercromby’s Real Estate.
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Daylesford's iconic Cliffys and The Barn to go under the hammer

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When I first started analyzing the property market more than 20 years ago the poor old villa unit was viewed as the ugly duckling of property. The drab 1970’s units were primarily the domain of old people who were one step away from a nursing home.
But this opinion has well and truly changed as many buyers now view them as a highly prized investment.
There was an extraordinary result last weekend when a villa unit at <a href="https://www.realestate.com.au/property-villa-vic-hawthorn+east-114319547" target="_blank">15 Grandview Grove Hawthorn East</a> (pictured below) sold for $676,000.
 
<a href="https://www.realestate.com.au/property-villa-vic-hawthorn+east-114319547"></a><img src="/images/stories/2013/08/hawthorn_east_aug_14.jpg" alt="hawthorn_east_aug_14" width="470" height="353">
The last sale in the block sold just 5 months ago for $595,000. <a href="https://www.realestate.com.au/property-unit-vic-hawthorn+east-113123267" target="_blank">This property</a> (pictured below) was virtually identical and has achieved almost 14% growth in less than 6 months.  
<a href="https://www.realestate.com.au/property-unit-vic-hawthorn+east-113123267"></a><img src="/images/stories/2013/08/hawthorn_east_aug_14_two.jpg" alt="hawthorn_east_aug_14_two" width="470" height="353">
A huge crowd turned up to the auction and given the previous sale the reserve was correctly set at $600,000 on the day. Once this price was reached the property was announced on the market and the bidders did the rest.  
Sometimes you see an auction result that is a spike in the market meaning two buyers get emotional and bid to irrational levels. In this case however the property was extremely well supported with around 10 bidders in total putting their hands up throughout the auction. In fact there were still multiple bidders competing in excess of $650,000.  
Many buyers walked away from this auction shaking their heads and I am sure a few of them cursed the agent for under quoting but when a market begins to move it is very hard for anybody to pick where it will stop.  
In this case it was the diversity of the buyers that pushed up the price and there were three kinds of buyers in the crowd:
 
Baby boomers - The oldest baby boomer’s turn 67 this year and the majority of them started their families when they were around 24 years old which means their children have now well and truly left home. Many baby boomers are now empty nesters looking to downsize.  
These buyers are cashed up from the sale of their family homes and the villa units in Grandview Grove are exactly what they are looking for. Low maintenance, ground floor units close to family and friends.  
Investors - Savvy investors view these properties as solid investments. The location is within walking distance to shops, transport and restaurants, which means they are highly sort after by tenants.  
Further these properties have very good underpinning land value. This property sits on a block of land of around 1500 m2 yet only has 8 units on the block. This ensures the investor with more reliable capital growth outlook.  
Home investors – These guys are a relatively new breed of property buyer. Traditional homebuyers searched for their dream home right from the outset and stayed there until their kids were grew up.  
Today home investors see things a bit differently. They focus on property that will give them the lifestyle they need now but will also be a springboard onto bigger and better things. They compromise on the size of a property to ensure they get into a better investment location. Although these guys tend to be equity poor they are cash flow rich and want to use this cash flow to generate tax-free wealth.  
The culmination of these buyers has created a very powerful property market force. Properties that appeal to all these groups will continue to be star investment performers in years to come.  
Mark Armstrong is a director of <a href="https://www.ipropertyplan.com.au/" target="_blank">iProperty Plan</a>, which provides independent analysis and tailored advice to investors and homebuyers.
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