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“Minister Chanthivong and his team have shown real leadership in replacing an outdated two-year bond with cover that matches the lifespan of the buildings people are buying into.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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More fun and games from the world of Aussie property with David Collyer of Prosper having a jolly old chirp at my expense over at the Don't Buy Now! campaign, predictably enough describing me as a "incoherent spruiker" and my output as "bilge" in an attempt to "shred my credibility", while also labelling me a "breathless auto-publicist" among other taunts.
Fair enough. In cricketing parlance I fully expected to be 'sledged' and never believed that everyone would agree with me that the share markets would be a great long-term bet and that property prices in Sydney would likely increase to record highs when my book was released on 31 May 2012 (although in truth I've never believed that certain Australian cities and regional property markets would be a particularly good bet).
Ever since the 1990s, I've always been of the view that property should be seen as a 25 year investment and that over that timeline, prices will likely increase in certain locations including Sydney (and certain areas in and around London) where the population is booming and there is little land available for release.
Average investors are notoriously desperately poor at timing markets so I place emphasis on long-term outcomes.
Stock markets have been on a bonanza run since May 2012 and delivered great capital growth and dividend streams.
If you've read my book, you'll know that I'm a strong advocate of heavily diversifying risk across a number of asset classes, but felt that some exposure to Sydney property would result in a good long-term outcome.
My own approach has been to spread risk widely by holding hundreds of (predominantly industrial and financial) stocks and investing in different property markets, with a bias towards growth asset classes.
As disclosed on my blog, I've owned a number of diversified (industrials-focussed) Australian LICs, the major Aussie bank stocks, a couple of major resources companies, a couple of UK index funds, a number of inner-Sydney residential properties, residential properties located close to London and a healthy cash buffer in a cash management account.
More than anything, my message was to do something by spending less than you earn and investing in a diversified portfolio of assets rather than to fail conventionally by doing nothing.
I also felt that Australia's property markets would likely steadily rebound from that time at May 2012 rather than crashing dramatically.
David Collyer took exactly the opposite view to me, specifically advising potential homebuyers and renters to steer clear of the property market at all costs for the past few years, as once again stressed in this February 2012 article which you can read <a target="_blank" href="https://www.prosper.org.au/2012/02/23/prosper-sees-property-price-falling-15-perhaps-20-in-2012/">here</a>:
“It is difficult to foresee anything that could derail the current downward trend – a trend we see accelerating strongly.
“The RBA is gradually, cautiously lowering interest rates. It is extremely sensitive to suggestions its activities may hasten or brake the deflating housing bubble. The other obvious tool available to government, a First Home Buyers Grant, has been utterly discredited,” Collyer said. 
 “We expect property prices to wilt under these combined pressures, with prices at end December 2012 between 15 and 20 per cent less than today. We renew and repeat our warning to potential home buyers to stay out of the property market. Falling prices erase equity while buyers’ mortgage liabilities remain payable in full."
“Don’t buy now,” Collyer concluded.
Since the property market troughs in mid-2012, unfortunately, prices have not fallen by 20%, or even 15%.
In fact, they have increased to new highs in Perth (+10.3%) and Sydney (+9.6%), are close to previous highs in Melbourne (+7.5%) and Canberra, and even Adelaide (+1.6%) and Brisbane (+2.1%) have seen prices rebounding.
 
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Unlike David Collyer of Prosper, I don't view the property market as a homogenous commodity; I'm instead of the view that prices will perform strongly in some areas and badly in others.
As is obvious by the fact that I've owned Sydney properties, I've long felt that this represents the best long-term risk-adjusted bet, but I don't rate the prospects of certain other cities.
If you took Collyer's specific advice to sit back and wait for a 15-20% crash in Sydney, Melbourne or Perth, you've already cost yourself a year's salary as prices have rebounded materially, leaving yourself in an even more awkward position: whether to wait yet again risking further price gains, or buy now at a significantly higher price than you could have done in 2012.
Futures markets now see interest rates remaining at 2.50% or below right through until early 2015. With auction clearance rates repeatedly topping 80%, I expect to see prices increasing even further in Sydney, though I'm far less certain about the prospects for some other cities.
My problem with the Don't Buy Now campaign has not been that prices won't fall - of course they always might recede (or they might not).
My problem with it has been the seriously flawed underlying assumption that people can predict short-term market movements with unerring accuracy.
What if prices continue to increase as has been predicted by the mainstream forecasters including BIS Shrapnel, Australian Property Monitors, RP Data, SQM Research, McGrath and ANZ Bank, to name but a few?
<a target="_blank" href="https://www.hsbc.com.au/1/PA_ES_Content_Mgmt/content/australia/about/research/archive/2012/OZ120712a.pdf">HSBC has long been vociferous and specific</a> in why they believe that there is no bubble and that prices will likely increase.
Even the globally bearish Fitch included Australia in its three most favoured markets of 2013 expecting prices to turn a corner and head up a little.
SQM Research predicted in its base case scenario 2013 price gains in Darwin (+6% to +14%), Perth (+6 to +12%), Sydney (+5% to 9%), Adelaide (+2% to +5%), Melbourne (+2% to +4%), Canberra (+1% to +4%) and Hobart (+2% to +5%).
Australian Property Monitors predicted national price gains of +5 to +7% through 2014.
BIS Shrapnel forecast median house price gains of 19% in Sydney in the 3 years to June 2016, as well as gains of 17% in Brisbane, 15% in Perth and 10% in Darwin. BIS also forecasts lower gains over the same time period of 5% in Melbourne, 3% in Canberra, 6% in Adelaide and 4% in Hobart.
Personally, I've often found BIS forecasts to be overly optimistic and frequently on the bullish side.
But given that 2016 will be the sixth calendar year of the Don't Buy Now campaign, what if the mainstream market forecasters prove to be right?
What if prices continue to go up instead of the 15-20% crash which has continually been promised by David Collyer for the last 3 years?
How long will Prosper continue to issue the specific financial advice to potential homebuyers to sit out of the market if that base case scenario plays out?
I'm not saying that Collyer will definitely be proven wrong. My question has rather been: what happens if the market forecasters are right?
One other thing: if Australians are "disleveraging with surprising vigor" as Collyer claims, then why have prices jumped by 10% in Sydney, by 10% in Perth and by 7.5% in Melbourne?
Pete Wargent holds a range of finance and property qualifications and is the author of <a target="_blank" href="https://petewargent.blogspot.com.au/" rel="nofollow">Get a Financial Grip – a simple plan for financial fr</a><a target="_blank" href="https://petewargent.blogspot.com.au/" rel="nofollow">eedom.</a>
 
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pwargent-M4siyDbqQY

Average investors are notoriously poor at timing property market cycles: Pete Wargent

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A website specialising in buying property in overseas countries says Australia is the most popular country in its books, driven by strong demand from British buyers and possibly a few voyuers.
Searches for property in Australia climbed even higher during June prompting TheMoveChannel.com to publish the top five most searched for Australian destinations.
Perth continues to be popular among our British friends. The city accounted for one-third of all searches in Australia on the website as British departees long for a sea-change.
It was followed by Sydney, accounting for 28% of the Australian searches.
Melbourne was next, taking in 20% of searches, followed by Adelaide and Brisbane.
Top five Australian hotspots for British wannabee buyers in Australia
<table border="0" cellspacing="0" cellpadding="0" width="140">
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<col width="76">
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<tr height="20">
<td height="20" width="64">1</td>
<td width="76">Perth</td>
</tr>
<tr height="20">
<td height="20">2</td>
<td>Sydney</td>
</tr>
<tr height="20">
<td height="20">3</td>
<td>Melbourne</td>
</tr>
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<td height="20">4</td>
<td>Adelaide</td>
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<tr height="20">
<td height="20">5</td>
<td>Brisbane</td>
</tr>
</tbody>
</table>
 
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The top five hotspots for British buyers and voyuers in Australia: The Move Channel

The landmark 1933 Villa d&#39;Este estate at Palm Beach has been sold for around $7.5 million by Terry Tobin, QC, and his wife, Bernadette, who have owned the property since 1983.

The 2,626 square metre property has been the family holiday home since&nbsp;bought for $700,000 from Guy Dawson.

It was <a href="https://palmbeach.ljhooker.com.au/2N9F6Z" target="_blank">listed for sale with $9 million price hopes through LJ Hooker Palm Beach agents David Edwards and Peter Robinson who have declined to reveal the selling price.</a>

Its set over two separate titles on Northview Road&nbsp;comprising&nbsp;a 1,426 square metre block with a Spanish Mission-style house and a 1,200 square metre vacant block.

It has&nbsp;views stretching across the length of Pittwater&nbsp;and especially north towards Lion Island and the Barrenjoey headland.

Built in 1933, the&nbsp;Mediterranean villa&nbsp;has an open loggia with barley-twist columns, arched windows and wrought-iron detailing.

The&nbsp;five-bedroom residence has a large living room and a billiard room.

Land title records show it changed hands in 1933 to Elizabeth Bay estate agent Morris Leventhal and his wife, Orissa when the 1927 mortgagee, the Bank of New Zealand secured a 310 pound sale. The departing mortgagor&nbsp;was Samuel Hood Hammond.&nbsp;&nbsp;

Tobin, admitted to the NSW Bar in 1973, was appointed a Queen&#39;s counsel in 1985.

jchancellor-FAypfDUnLy

Barrister Terry Tobin sells Villa d'Este, the historic Palm Beach estate

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An active buyer and seller of US real estate, AMP Capital Global Direct Property Fund, has paid US$29.4 million (A$32.7 million) for a CBD office tower in Sacramento, California.
The purchase is a nice fit for the fund which is this year focusing on ‘’top tier secondary markets poised for growth that are only just beginning to attract significant capital flows’’.
The building (pictured below) is walking distance from the California State Capitol building at 770 L Street. The 13-level, Class A office building of more than 15,600 square metres has a strong government and lobbyist tenancy profile.
<img height="313" width="470" src="/images/stories/2013/08/Sacramento-aug-16-one.jpg" alt="Sacramento-aug-16-one">
It has excellent green credentials, being one of only six non-owner-user buildings awarded LEED Gold certification in the CBD.
AMP Capital Global Direct property fund manager Tim Fallet said the property was attractively priced with the opportunity to add value.
“The Sacramento office deal is a high-quality property acquired well below average comparable sales over the past 10 years with some of the best vacant space in the market.
‘’We plan to offer prospective tenants attractive lease rates, providing a competitive advantage over landlords with a higher cost basis.
“Secondary office markets like Sacramento are poised for growth, driven by strengthening economies.
‘’We want to position ourselves ahead of the capital flows, de-risk the asset by capturing a good share of leasing activity to achieve a stabilised 90-95% occupancy profile and resell into a rising market to an investor hungry for core investments.’’
Mr Fallet says Australian real estate is in high demand. ‘’There’s a lot of domestic and international capital chasing local property, but the Aussie market isn’t big enough to absorb these capital spikes.
‘’As a result, a number of local super funds are considering an offshore strategy again and we are well placed to assist.’’
Mr Fallet says that while the fund ‘’currently has a buy-side bias to the United States, we have a watching brief on further investment opportunities in Europe and Asia”.
The AMP Capital Global Direct Property Fund gives Australian superannuation funds access to core and core-plus direct property investment opportunities in large, liquid and transparent offshore markets.
The fund invests in a strategic mix of international direct property assets across all the property sectors.
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AMP wholesale fund buys Sacramento office building for $32.7 million

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The unemployment rate remained unchanged at 5.7% in July, the latest ABS figures show.
Market expectations were for the unemployment rate to rise to 5.8% over July.
The number of people employed decreased by 10,200 to 11,653,200 in July.
This was offset by the number of people unemployed decreasing by 5,700 people to 705,400 in July as well as the seasonally adjusted labour force participation rate decreasing 0.2 percentage points to 65.1% in July.
The decrease in employment was due to decreased full-time employment, down 6,700 people to 8,133,900, and part-time employment, down 3,500 to 3,519,300.
Full-time and part-time employment decreased for both females and males.
The highest unemployment rate is in Tasmania (down from 9% to 8.2%) and the lowest is in WA (unchanged at 4.6%).
The biggest unemployment rate rise was in South Australia - up from 6.1% in June to 7.1% in July.
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Unemployment rate remains unchanged at 5.7% in July

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A new investor asset class is emerging after one of Australia’s largest accounting and financial advisory firms bought a NSW Quest serviced apartment property on behalf of a syndicate of 60 investors.
Crowe Horwath Property senior manager, Julie Perry, says the firm paid $24.8 million for the 550 Kiewa Street property containing the 104-key Quest Albury as its first foray into the accommodation sector. It was developed in 2008. Other tenants are the Q Manhattans tapas bar and restaurant and the Endota day spa.
Perry says the investment ends a search for stable cash generating and capital growth property investment opportunities favoured by her company’s clients. 
“We have found that our clients are becoming more astute to the various opportunities in the market. When we provided them with an opportunity to invest in a strong performing, but diverse asset style, property the response was overwhelming,’’ she says. 
“The interest has reinforced the local community support for local investment.’’
Quest chairman Paul Constantinou says the transaction is part of a growing trend with investors seeking opportunities away from traditional commercial, industrial and retail sectors.
He says the serviced apartment sector is on a roll with Quest building its third property in the Albury Wodonga region. The expansion strategy follows regional and suburban growth corridors throughout Australia.
‘’Investing with Quest provides predictable returns, fixed rental income and the security of a long-term lease,’’ he says.
“During uncertain financial times, investors are turning away from traditional assets, preferring instead to safeguard their financial future by investing in assets they can see and understand.”
Quest provides short-term business traveller accommodation. Since launching 24 years ago, the group says it has become the largest and fastest growing serviced apartment operator in Australasia. There are about 150 Quest sites across Australia, New Zealand and Fiji.
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Investor syndicate buys Quest Albury serviced apartments for $24.8 million

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The sale at auction of three regional fast food outlets has demonstrated the strength of demand for commercial premises, according to commercial real estate agents Burgess Rawson.
They are among a<a target="_blank" href="https://www.propertyobserver.com.au/tax/burgers-fries-and-tax-depreciation-benefits-drive-sale-of-mcdonalds-premises-mcdonalds-washingtonbrown-tax-eofy-depreciation/2013060461524"> swag of recent sales to investors</a> taking advantage of low interest rates and the emergence of self-managed super funds acquiring commercial property. 
At its Melbourne portfolio auction yesterday the agent sold $13.81 million worth of property (nine out of 12) at an average premium above reserve of $145,000 - or 10%. This equates to a total premium above the combined vendors’ reserves of $1.31 million. 
The Toowoomba Red Rooster outlet was sold by a Melbourne-based vendor for $1.78 million at a yield of 7.23%. This was at a 19% premium above the reserve, according to Burgess Rawson agents Robert Stanley-Turner and Michael Collins, who fielded bids from Brisbane and Toowoomba. 
‘’Based on our records, the yield is the strongest for a Red Rooster since we sold the Colac freehold at 7.1% about 12 months ago,’’ Stanley-Turner says. 
The Ararat Domino’s Pizza outlet sold for $500,000 on a yield of 6.2%. At shops 3 &amp; 4, 1 Ingor Street, the new premises comes with a five year lease with multiple renewals. It’s one of more than 800 Domino’s stores in five countries. The double fronted shop on two titles was recently decorated in the latest corporate livery at a cost of $200,000. It comes with fixed 4% annual rent increases and a return of $31,000 per annum.
The Leongatha Subway store in South Gippsland was sold for $600,000 at a 5.4% yield. It was one of three premises owned by the same vendor. ‘’The sale price reflects a blended 19% premium above his combined pre-auction reserves,’’ says selling agent Raoul Holderhead. 
‘’The Subway and a Leongatha VicRoads office ($920,000) were bought by same local buyer and an IGA Liquor outlet was bought by a Melbourne based private investor.
‘’Based on our records, the 5.54% yield for VicRoads is unprecedented for Government leased investment property anywhere in Victoria.’’
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Investors upsize their appetites for high-yielding regional fast food outlets

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The vacancy rate for rental property in metropolitan Perth has lifted from a tight 1.9% towards the end of last year to around 3.2% currently.
There are now more than 4,000 rental properties on the market giving tenants a lot more choice with location and price. This is a big turn-around in the rental market in just six months.
The median rent is now around $480 per week, which typically means that houses are renting for around $480 and units, apartments and villas for around $455 per week.
However, with stock levels in Perth now above average many current tenants are looking to break their fixed-term leases and move to something else that might be more affordable or in a more suitable location.
Other tenants are keen to leave the rental system and buy their first home, especially now that prices have stabilised and interest rates are low.
Either way, it’s important that tenants understand the possible costs involved in a break-lease and to do their sums before making any quick decisions. For some tenants it might be better to serve out the existing lease and leave at the end of that.
It’s important for tenants to understand that a lease is essentially a contract between two parties and leaving the premises before the agreed termination date is a breach of that contract.
Under the Residential Tenancies Act, the owner is entitled to be ‘no worse off’ as a result of any breach by the tenant. As such, they can claim from the tenant any cost that might be incurred, such as rent until the premises are re-let, advertising for a new tenant and any unused portion of the letting fee.
These costs might add up to a few hundred or few thousand dollars depending on the circumstances.
Most property owners will try to be reasonable in these situations and some might agree to a no cost break-lease up to the point where new tenants move in. Even so, there may be some costs to you so check it out firstly.
If you are looking to buy your first home and do away with renting, it’s best to aim for the settlement date of your purchase to coincide with the end of your rental lease to save you money.
If you are thinking of breaking your lease, it’s highly advisable that you talk to the property manager about the potential cost of that so you can make a considered decision about the best time to move and how that might impact your budget.
There can be understandable reasons for breaking a lease but it’s not something that should be done without thinking it through.
David Airey is president of the <a rel="nofollow" target="_blank" href="https://reiwa.com.au/home/default.aspx">Real Estate Institute of Western Australia.</a>This article was originally published on <a target="_blank" rel="nofollow" href="https://reiwa.com.au/Faq/Pages/Feature.aspx">reiwa.com</a>.
 
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Perth rental vacancy is giving tenants more options, but breaking a rental tenancy agreement can have serious consequences

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In my view, overall investment desirability in an area is heavily dependent on infrastructure.
So how would I rank the various infrastructure basics in order of importance?
I would argue there is not one checklist of infrastructure vitals you need to investigate when considering an investment property purchase, but two.
The first list I came up with are what I call ‘Area Vitals’ and this includes the core vitals pertaining to the basics of human life: safety, security, and employment.
But the second list, ‘Area Desirables’ are just that, the ‘nice-to-have’ factors that can – and do – persuade prospective tenants to choose one suburb over a similar suburb to live in. I would recommend considering each of these lists when you are deciding where to invest:
Infrastructure Checklist – Area Vitals:
-          Emergency services (local police, fire, ambulance)
-          Employment prospects (look for job creation in a variety, not just a handful, of industries or trades)
-          Proximity to transport nodes (rail, bus, tram; as well as domestic and international airports)
-          Shopping &amp; retail facilities (basic/core groceries)
-          Proximity to education facilities (pre-school through to tertiary)
-          Digital services (fast access internet, subscription television)
-          Provision of basic leisure facilities (parks, local sports grounds, town centres, restaurants/bars)
-          Well-maintained roads and intersecting/connecting motorways
Infrastructure Checklist – Area Desirables:
-          Prestigious education facilities (beyond basic, so esteemed schools/universities with a good reputation)
-          Nearby national parks &amp; hiking trails
-          Hospital facilities that provide sophisticated surgeries &amp; procedures
-          Bustling local entertainment venues (abundance of restaurant choices/cultures, popular nightspots)
-          Proximity to premium entertainment &amp; sports venues (for big concerts, major sporting calendar events)
-          Provision of adequate parking nearby to transport nodes
In an ideal suburb, you would hope to check off as many items on these lists as possible, but of equal importance is to consider areas where projects related to any of the above have commenced construction.
For example, if values in your chosen area have not shown much capital growth in the last five years or so, yet a new motorway that will make this area more connected to major employment centres has already begun construction, you ought to take these factors in to account.
 
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Recently, I returned from a trip to Singapore and Malaysia.
My time in Singapore was mostly for business, but my time in Malaysia was for a short break, not on the mainland but instead on a remote island. Apart from the climate, the two places I visited could not be more different.
Singapore is a tiny, bustling, and high-density city-state, brimming with business people from all around the world. There are over five million people crammed into an island about one third the geographical size of Sydney.
On the other hand, the small Malaysian island of Tioman on the east coast of Johor Bahru, has a population smaller than that of Darwin.
From a property perspective the two areas, though neighbours, could not be more different.
Spending a little bit of time on each island, I began to appreciate just how important the presence of good infrastructure is, in determining where you invest.
When comparing the infrastructure of these two places, again, they could not be more different.
Singapore is everything you would expect; practically anywhere one would choose to live on the island is in very close proximity to not only the fundamental/basic infrastructure of city living, but to more sophisticated infrastructure like major lifestyle venues (zoos, grand botanical gardens, major entertainment venues, sporting grounds, and so on).
The rent costs being commanded by landlords in most parts of Singapore are in line with such world-class lifestyle facilities. Yet demand for property of any kind in Singapore remains fiercely strong, and in many instances, highly competitive.
Conversely, the remote island of Tioman in Malaysia faces an entirely different problem.
Apart from a small volume to Tourism, the island has little to no infrastructure.
The only airport that services the island will cease all flights from September onwards, making all access to the mainland of Malaysia reliant on ferry services. Even these ferries are reliant on fluctuating tides and if the water tide is too shallow on any given day, the ferries simply do not run.
Infrastructure on the island is very weak indeed with no doctors, let alone a hospital, only a handful of police officers to service a population of over one hundred thousand and no sophisticated urban planning zoning or restrictions, making construction and importations of any kind challenging for the developer.
Employment prospects are poor and services to roads, communities, and technology are also very limited.
Most people would think of infrastructure as being separate to employment prospects, but the two are often related.
 
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A good example of this is Kempsey on the mid-coast of NSW.
I visited this area in April 2013 and was initially pleasantly surprised by the affordability of residential property in this mid-size town.
Houses in most suburbs are very affordable; according to RP data the current median price for a house in Kempsey is $165,000.
The town should have solid appeal as an area to live; it is a very short drive to beautiful coastal beaches, the weather is mild most of the year and sunny, and there are almost a dozen state and national parks surrounding the city in every direction.
The recently completed upgrade of the Pacific Highway included a bypass path that re-routed traffic around the city. This has stopped noise, pollution, and traffic running through the centre of town and once would think this would restore the town centre with a sleepier, pleasant vibe, akin to that of nearby Grafton.
Yet despite all of this, the longterm growth trend for house values remains muted.
After visiting and speaking to some locals there, as well as making some calls to local estate agents, I began to realise that economic growth for the city had stunted due to lack of infrastructure.
It turns out that Kempsey is about a 45 minute drive to much larger cities Port Macquarie and Coffs Harbour.
Residents of Kempsey would often commute to either of these places to seek work, due to a lack of infrastrucutre and services in Kempsey having resulted in little to no new job creation in Kempsey.
The town does have basic services – a small hospital, police station, fire station and so on. However, the council has not promoted industrial and agricultural infrastructure growth in the town and this has resulted in limited job growth prospects.
With retail being the only developed industry, employment prospects remain muted and this in turn reduces desirability and increases vacancy rates, resulting in capital growth remaining stunted.
Education is always a strong influence when it comes to infrastructure.
In the example of Kempsey, apart from a small TAFE with very limited course offerings, there are no universities in the area, meaning that residents wanting to study for a career beyond basic trades, have to leave the town to do so.
A lack of solid infrastructure can restrict growth in industry, leading to high unemployment rates that keeps a town or city with otherwise great appeal and desirability, deflated.
Cameron McEvoy is a NSW-based property investor and maintains a blog, <a href="https://propertyspectator.blogspot.com.au/" rel="nofollow" target="_blank">Property Correspondent.</a>
 
 
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cmcevoy-Go82SmsJA9

The vital and desirable infrastructure checklist before you invest any suburb

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A Luigi Rosselli-designed waterfront home in Cottage Point - and former home of INXS band member Andrew Farriss – is on the market for.
Located on Cowan Drive on 1,486 square metres, the six-bedroom home was designed and built in 1991 for multi-instrumentalist <a href="https://inxs.com/the-band/band-members/andrew-farriss/" target="_blank">Andrew Farriss </a>and his then wife, Shelley.
The project drew inspiration from ship architecture and the home is designed around a central two-storey drum.
The property also includes a restored 1910 stone guest cottage on the waters edge with a private deck, slipway, boatshed and pontoon access.
Coined “the INXS house” by <a href="https://luigirosselli.com/news/" target="_blank">Luigi Rosselli</a>, the Farriss’ sold the property in 1996 for $1,715,000.
The current vendors, the Ell family then purchased it in 1999 for $2.3 million.
It has been scheduled for auction in 2010 with a $6.45 million plus price guide in what was an unsuccessful attempt to set a new record for the exclusive Cottage Point area.
The most expensive sale in the area was recorded in 2008 at $6.45 million.
By coincidence, Shelley Farriss has put her <a href="https://www.regencyrealestate.com.au/buying/NSW/Northern-Beaches/Bayview/House/1P0087" target="_blank">Bayview home</a> on the market for around $13 million.
Situated on 3,065 square metres, the five-bedroom home includes a wet bar, French doors, music room and a library.
<a href="https://www.propertyobserver.com.au/data-map?utm_source=Property+Observer+List&amp;utm_campaign=bed190e75c-June_17_1_29_2013&amp;utm_medium=email&amp;utm_term=0_a523fbfccb-bed190e75c-" target="_blank"><img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/stories/2013/07/yieldsbanner.jpg" alt="yieldsbanner" width="470" height="127"></a>
The property also boasts a 24-metre frontage, an infinity pool and a rooftop entertaining area.
Shelley bought the property in 1999 for $4,375,000.
The Cottage Point property is listed through <a href="https://monavale.ljhooker.com.au/10QRF6K" target="_blank">Lachlan Elder of LJ Hooker Mona Vale.</a>
<a href="https://www.propertyobserver.com.au/residential/trophy-homes/" target="_self"><img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/stories/2013/05/trophyhomesstrapone.jpg" alt="trophyhomesstrapone" width="470" height="57"></a>
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