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“Minister Chanthivong and his team have shown real leadership in replacing an outdated two-year bond with cover that matches the lifespan of the buildings people are buying into.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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Darwin has the highest private treaty median house price for the month ending July 28 at $630,000 from 21 sales, according to RP Data.
Sydney follows with a median private treaty house price of $606,250 from 2,526 sales.
Sydney has the highest private treat median unit price at $498,000 from 1,685 sales, followed by Perth at $441,000 from 220 sales.
<img alt="rpdatachartjuly29seven" height="281" width="470" src="/images/stories/2013/07/july29rpdata/rpdatachartjuly29seven.jpg">
<img alt="rpdatachartjuly29eight" height="218" width="470" src="/images/stories/2013/07/july29rpdata/rpdatachartjuly29eight.jpg">
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Darwin highest private treaty price in July at $630,000: RP Data

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A 24% slump in dwelling approvals and a 12% fall in detached housing approvals was recorded in Victoria in June with suggestions that changes to the first home buyer grant and stamp duty concessions may have resulted in some new housing developments being pushed back to await larger handouts.
The $7,000 first-home owner grant available for both new and existing homes was scrapped on June 30 and replaced with the $10,000 first-home owner grant only available for those buying or building a new home including those bought off-the plan. Stamp duty concessions for properties valued under $600,000 increased from 30% to 40% available to new and established homes.
The graph below shows how first-home owner applications for new homes has fallen as buyers awaited the bigger incentivew with the corresponding drop in approval numbers:
<img alt="building_approvals_westpac_chart" height="325" width="470" src="/images/stories/2013/larry_uploads/building_approvals_westpac_chart.jpg">
The slump in building approvals highlights how changes to first-home buyer grants can artificially shift the dynamics of a housing market, though it should be noted that in trend terms the Victorian unit market has been declining for 11 straight months - indicating a longer pattern of correction - while approvals for private sector houses rose 0.9% in June in trend terms and have risen for five months.
Westpac senior economist Matthew Hassan notes that excluding the Victorian figures, total dwelling approvals would have risen 0.7% with detached housing approvals up 3.4%.
“Some of this may be due to state government policy changes - in particular, some projects may have been delayed to take advantage of the first home buyer bonus for those buying newly built dwellings and a 10% increase in the stamp duty concession offered to first home buyers, both of which kicked in from July 1,” says Hassan.
There were more solid rises in dwelling approvals in NSW (+6.7%) and Qld (+7%) where a $15,000 first-home buyer incentives have been in place for some time.
Apart from Victoria, the other notable weakness in the data was the 12.2% decline in unit approvals over June.
While traditionally a more volatile sector, dependent on the timing of approvals for larger inner city developments, Hassan points out that when drilling down into the data, the decline was concentrated in medium to low rise rather than high rise - suggesting the fall does is not simply due to a 'lumpy' pipeline of large projects.
HIA senior economist, Shane Garrett, notes both trends in the building industry body’s downbeat response to the June figures.
“We continue to see weakness in segments of the market like multi-units as well as in regions like Victoria and Tasmania. As long as this weakness persists, there is no prospect of a broad-based recovery occurring,” warned Shane Garrett.
Commonwealth Bank economist Michael Workman says that despite the fall in June, the monthly average for approvals since the beginning of the year is still 13,300 approves, which annualises to 160,000 approvals – the bank’s target for 2013 approvals and construction.
Workman also notes that Victorian approvals are falling from previous highs, but more broadly says the current upswing in approvals, and construction, looks set to be “relatively mild compared to previous ones which came with considerably more stimulus to FHBs than the current cycle”.
But even this mild upswing should have some wider economic benefits.
“If maintained, it will be about a 10% increase in national approvals over 2013…which would add about 0.5 percentage points directly to GDP growth through higher construction.
“The big box retailers would then gain from selling more white goods, entertainment items, furniture, hardware and gardening gear,” he says.
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Change in first-home buyer grants a factor in Victorian dwelling approvals slump: Westpac

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Regardless of whether you view housing as overvalued or not, it is unlikely there will be sustained in growth in asset values above 7% per year over the next few years, says RBA governor Glenn Stevens.
In a speech to a luncheon in Sydney today, Stevens re-affirmed there was scope for further monetary policy easing if necessary, casting doubt over the progress of the economy transitioning from mining to non-mining sectors.
"In brief, business capital spending outside the resources sector has been subdued; housing investment likewise has been on the low side.
"There is ample scope for both to rise.
"This is by no means a certainty though and while there are signs of an increase in dwelling investment getting under way, a stronger trend in non-resources business investment looks like it is a while off yet," he said in a speech called 'Economic Policy after the Booms' to the Anika Foundation Luncheon.
He also highlighted the lower value of residential property today than during the GFC and that growth in asset values was unlikely to return to what it was before the financial crisis.
“One's assessment of prospects for consumption will be driven mainly by one's assessment of the outlook for income, but will also be affected by expectations about asset values and in particular one's view on whether housing prices are overvalued,” said Stevens.
“Those who think they are will be drawn to the conclusion that a number of additional years of flat or declining real per capita asset values lie ahead, for non-financial assets at least; those who are not so worried about housing prices may expect that stronger growth, in real per capita terms, might occur.
“Either way, however, it would seem unlikely that we could bank on a resumption of sustained growth in assets, in real per person terms, of 7% per year over the next few years.
“It follows that the saving rate is unlikely, any time soon, to decline back to where it was in 2005.”
The 7% figure relates to a chart included in the presentation showing trend growth for non-financial assets (the gold line) and the dip that has occured since the onset of the GFC:
<img src="/images/stories/2013/larry_uploads/RBA_chart.gif" width="470" height="381" alt="RBA_chart"> 
Stevens also highlighted that the RBA would be monitoring the changes in the make-up of investment portfolios in light of lower interest rates and the shift to riskier assets.
“One of the things we have been watching for as we have been reducing interest rates has been an indication of savers shifting portfolios towards some of the slightly more risky asset classes, as that is one of the expected and intended effects of monetary policy easing.
“There are clearly signs of policy working in this respect, though not, to date, by so much that we see a serious impediment to further easing, were that to be appropriate from an overall macroeconomic point of view.”
<a href="https://homeloans.propertyobserver.com.au/home-loans/?utm_source=Property+Observer+List&amp;utm_campaign=76e226e607-June_21_1_29_2013&amp;utm_medium=email&amp;utm_term=0_a523fbfccb-76e226e607-245347537" target="_blank"><img src="/images/stories/2013/08/homeloancomparison.jpg" width="399" height="110" alt="homeloancomparison"></a>
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RBA boss Glenn Stevens dampens expectations for strong house price growth

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Building approvals for new houses and apartments fell 6.9% over June to 12,778 units on a seasonally adjusted basis according to the ABS - well below market expectations.
It follows a 1.1% fall in May, but a 9.1% rise in April.
ANZ had forecast a 4% monthly rise over June with the market tipping a more modest 2.5% gain.
"Low interest rates, strong population growth and pent-up demand are supporting a strengthening in housing activity in Australia and we expect this to continue," said ANZ ahead of the June numbers.
Approvals for private sector houses fell 1.2% over June to 7,926 dwellings, though still up 9.9% on figures from a year ago.
Approvals for private sector apartments - the more volatile of the two building sectors - fell 12.6% over June to 4,543 dwellings and down 37.4% compared with a year ago.
Despite the monthly fall, private sector house approvals are still trending up while unit approvals have flatlined:
<img src="/images/stories/2013/larry_uploads/bulding_approvals.jpg" width="470" height="181" alt="bulding_approvals">
<img alt="unit_approvals" height="204" width="470" src="/images/stories/2013/larry_uploads/unit_approvals.jpg">
Dwelling approvals increased in June in the Australian Capital Territory (2.7%), Western Australia (1.8%), New South Wales (1%), Tasmania (0.9%), South Australia (0.8%) and Queensland (0.1%) but decreased in the Northern Territory (-10.9%) and Victoria (-1.2%) in trend terms. In trend terms, approvals for private sector houses increased for the six consecutive month in June.
Of the states and territories, South Australia (2.6%), Western Australia (1.5%), New South Wales (1%) Victoria (0.9%) and Queensland (0.6%) all experienced rises in private sector house approvals.
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Building approvals disappoint with unexpected 6.9% fall in June

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Rents increased across Australia in May, according to research by rent.com.au.
Its latest report shows rents rose in most states, although NSW, ACT and NT rents remained steady, according to national services manager, David Berridge.
While median rents increased 5% to $419 per week in Queensland, properties leased 8% slower, taking an average of 28 days to find tenants.
“Queensland investors would finally be encouraged with the first significant gain in rents for the state since November 2012,” Berridge says.
While the data shows days on market increased 9% to 25 days in Western Australia, it is still the fastest letting period in the country. It positions WA as the most expensive state in which to rent, followed closely by the Northern Territory.
“The effects of the softening economy in Western Australia are yet to be seen in the rents being paid, with a 3% rise in the average median rent to $553 per week,” Berridge says.
Northern Territory rents stayed steady in May with a weekly median rent of $551, with days on market stretching out to 28 days - an 8% increase.
Victoria reversed its trend, regaining the 3% lost in April, so that renters are paying an average median rent of $383 per week in May. Average days on the market increased by 7% to 31 days.
Tasmanian rents lifted again in May with a 6% increase to $295 per week, with turnover slowing by 15% to 38 days.
New South Wales and the ACT both saw rents remain steady with median weekly rents of $480 and $471 respectively. Days to lease properties in the ACT increased by 13% to 35 days. NSW’s days on market increased slightly to 26 days.
South Australia’s investors also gained in May, with the weekly median rent rising 4% to $338 per week. Turnover slowed again by 11% to 31 days.
The local rent.com.au Rent Suburb Reports for the capital cities showed Darwin having the biggest rise of the capitals with its median rent increasing 7% to $600 per week, although this is still off from the December quarter high of $640.
Perth’s weekly median rent of $650 also sees it gain $25 per week from the December quarter median rent of $625 per week. Sydney at $720 per week has also shown a small rise of 3% in median rent since the December quarter.
All states saw days on market increase, ranging from 4% to 15%.
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Victorian landlords face 31 days on market searching for tenant: rent.com.au 

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Investment properties require maintenance throughout every season, but especially winter.
LJ Hooker Mortdale suggest the coldest seasons creates unique challenges which can result in expensive repairs if not treated seriously.
<a href="https://twitter.com/ljhmortdale" target="_blank"><img src="/images/stories/2013/07/tweetofthedayjuly30.jpg" width="470" height="77" alt="tweetofthedayjuly30"></a>
LJ Hooker says that good maintenance includes:
<ul>
<li>
cleaning the gutters and repairing any damaged areas;
</li>
<li>
checking the roof for loose or broken tiles, broken ridge capping or loose flashing. (It may be nice to watch the rain pouring down outside during a winter storm, but the last thing a tenant wants to see is water dripping off the ceiling);
</li>
<li>
trimming any overgrown or overhanging branches and checking trees for stability, as fallen trees are a common cause of storm damage;
</li>
<li>
securely anchoring garden sheds and making sure fences are stable;
</li>
<li>
securing any awnings and shade cloth;
</li>
<li>
installing a surge protector with an automatic cut out facility. A protector can prevent electrical damage if lightning strikes during an electrical storm and help keep tenants safe.
</li>
</ul>
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Inaction may also result in the landlords losing a good tenant at the end of the lease, leaving them with the expense and loss of income

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Over 50% of houses in Panania, East Hills, and Picnic Point, NSW sold in 60 days or less, according to the latest report from PRDnationwide.
The report conducted a days on market analysis for houses in the 2213 postcode for the six months to June 2013.
It found 32% of houses sold in 30 days or less, and 21% of houses sold between 30 to 60 days.
Despite the optimistic figures, 28% of houses were on the market for over 120 days, suggesting that buyers were price sensitive.
Len Horne from PRD nationwide Riverview told Property Observer that Panania’s property market is doing well. 

“Listings are rather short at the moment. The average days for auction sales is 23 days, and private treaty sales average 35 days,” he said. 

Congruent with the report’s findings, Horne has found that “million dollar plus properties take longer to sell.” 

Conversely, duplexes with a price range of $630,000 to $730,000 have been “very saleable”. 

While most property buyers in Panania are owner-occupiers, Horne has noticed more investors coming into the market. In addition, he revealed an increase of buyers wanting to move into the Panania area from other suburbs.
Darren Musgrave of Professionals Padstow told Property Observer that the property market in Panania, East Hills and Picnic Point is “very strong” at the moment.
“In fact, most houses sell a lot faster, more like 30 days (on the market),” he said.
“Quality homes in the $700,000 to $800,000 range are selling really really well,” he added.
He also revealed that most home buyers in the Panania area already reside in the area, and are owner-occupiers.
Located about 23 kilometres south-west of the Sydney CBD, Panania, East Hills and Picnic Point have a total population of 20,377 according to the 2011 Census.
Musgrave added that homes in the Panania area are still very affordable compared to other suburbs within a similar radius. It is also relatively accessible via the M5 motorway, and the East Hills railway also services the area. An express train ride to the city takes less than 30 minutes.
Other amenities include the Georges River National Park, sporting grounds, recreation areas, and good schools.
According to the <a href="/news">latest RP Data report</a>, the median sale price for houses in Panania is $600,000, up 3.3% on last year. The average discount required to sell a house is 4.5%, while private treaty sales average 66 days on market.
The median asking rent for houses is $490 per week, while gross rental yield currently stands at 4.2%.
Houses that have recently sold in Panania, East Hills, and Picnic Point include:
<a target="_blank" href="https://www.realestate.com.au/property-house-nsw-panania-113722163">29 Tyalgum Avenue, Panania</a>
The four-bedroom brick house (pictured below) sold at auction in May this year for $871,000 through Professionals Padstow. Prior to this sale, it last sold for $58,950 in 1988, according to RP Data records.
{yoogallery src=[images/stories/2013/07/july30p1]}
Houses for sale in Panania, East Hills, and Picnic Point include:
<a target="_blank" href="https://www.realestate.com.au/property-house-nsw-picnic+point-114103579">913 Henry Lawson Drive, Picnic Point</a>
The four-bedroom house (pictured below) has been listed for sale at $899,000 through Alliance Real Estate Panania. It last sold for $666,000 in 2011, according to RP Data records.
{yoogallery src=[images/stories/2013/07/july30p2]}
It has been listed for sale since 14 June this year. It was also listed for sale in September 2011, where it spent 54 days on the market, according to RP Data records.
The house has also been listed for rent from January to March 2012, at an asking price of $420 per week, according to RP Data records.
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Over half of Panania listings sold in less than 60 days: PRDnationwide

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The REIV reported a solid enough 72% auction clearance rate for Melbourne on Saturday.
In Sydney, APM reported an "extraordinary" 81% clearance rate, the third consecutive week in which the 80% barrier has been exceeded.
The activity levels continue to point to an ongoing price boom in the hot sectors of the market in Sydney.
Earlier in the week, <a href="https://petewargent.blogspot.co.uk/2013/07/apm-house-prices-rise-by-54" target="_blank">APM reported that</a> house prices in Sydney, Perth and Canberra are now at record highs with Melbourne only a shade below its all-time highs, although Brisbane and Adelaide still have a way to go if they are to follow suit.
Perth and Sydney have recorded gains of around 10% since their respective troughs of a little over a year ago and prices have increased reasonably well everywhere except for Adelaide.
But it's Sydney that is the real embarrassment for the chorus of voices predicting a "40% crash" half a decade ago, with prices well above all previous peaks.
Not only did dwelling prices increase by more than 20% as household incomes grew, the price gains actually now appear to be accelerating with properties selling remarkably quickly and a swathe of speculative investment capital flowing into the city.
If you're a follower of the weird obsession with daily house prices, RP Data has Sydney prices up around 5% in less than 50 days, and looks set to report increases of around 2% in July alone at the end of this month.
I'm not sure how those who called a crash so hopelessly wrong will explain that one away.
Pete Wargent holds a range of finance and property qualifications and is the author of <a rel="nofollow" href="https://petewargent.blogspot.com.au/" target="_blank">Get a Financial Grip – a simple plan for financial fr</a><a rel="nofollow" href="https://petewargent.blogspot.com.au/" target="_blank">eedom.</a>
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Those who called a property crash got it hopelessly wrong: Pete Wargent

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Investing in apartment rather than a house can be a sensible option and deliver good returns, as long as you follow some basic guidelines, says Selling Houses Australia host Andrew Winter.
He describes buying a modest two bedroom apartment in London in the mid-1990s as one of his best investments he ever made, writing in the News Limited press that it delivered 60% capital growth in less than a year.
Seeking to dispel the myth that an apartment is an inferior investment option per se than buying something with its own front door, Winter advises the following:
<img height="42" width="33" src="/images/stories/2013/07/NUMBERS/numberonejuly11.jpg" alt="numberonejuly11">Keep in mind the advantages and disadvantages of apartments over houses when looking for an investment. The advantages include being generally cheaper to maintain, better security and sometimes a great view. Disadvantages include potentially loud neighbours or a lack of privacy though he points out that acoustic controls have improved in recent times. <img height="39" width="33" src="/images/stories/2013/07/NUMBERS/numbertwojuly11.jpg" alt="numbertwojuly11">Only purchase in a location or area where buying an apartment is more affordable than buying a house or where a house is not an alternative option - such as in the centre of cities. Not grasping this rule, Winter says results in most of the investment disasters he sees. <img height="43" width="33" src="/images/stories/2013/07/NUMBERS/numberthreejuly11.jpg" alt="numberthreejuly11">Location is key for buying an apartment even more so than when investing in a house. He suggests that you tread cautiously when considering an apartment in the outer suburbs and rural locations, even if they have “nice features”. <img height="43" width="33" src="/images/stories/2013/07/NUMBERS/numberfourjuly11.jpg" alt="numberfourjuly11">Make your selection very carefully once you are sure it’s in the right area and at fair price. Winter says features that should be sought after include some outside space such a balcony, a reasonable amount of natural light, and the right location and design for the development. He says corner units are preferable as they have more than one view and to avoid units that have no view at all or only of brick walls or air conditioners. <img height="36" width="33" src="/images/stories/2013/07/NUMBERS/numberfivejuly11.jpg" alt="numberfivejuly11">Don’t pay huge premiums just to move up a level unless there is a clear improvement in the view. Winter says to avoid being too high-up as your view may just be of other balconies and the sky and very windy.<ol></ol>
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Andrew Winter’s five tips to making a sensible apartment investment rather than buy a house

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The biggest mining boom in Australian history since the gold rush of the 1850s is about to change shape. The investment phase of the boom, which has seen $400 billion invested in the last decade, is tapering off.
The elevated prices paid for Australian mineral exports since 2003 are falling, and with them, the huge boost they provided to national income and government revenue. As these changes begin to transform the economy once more, our new report, <a target="_blank" href="https://grattan.edu.au/publications/reports/post/the-mining-boom-impacts-and-prospects/">The Mining Boom: Impacts and Prospects</a> assesses the benefits and costs of the boom, and points to what policymakers should and should not do next.
Overall, the boom has been good for Australia. It helped the country weather the global financial crisis. It helped fund major government initiatives. Most Australians have prospered.
But the boom has also provoked fears. Some worry that it has benefited mining states, companies and workers, but left the rest of the country worse off. Some believe that the high dollar caused permanent damage to trade-exposed industries such as manufacturing, tourism and international education.
Some believe a bigger mining sector will expose the broader economy to resource price shocks or that the boom will end in a severe recession. Others believe the Commonwealth Government mishandled the boom by failing to save much of the windfall it has generated.
Our report examines the impact of the boom on the economy and tries to ascertain whether the worriers are right. With one striking exception, it finds that they are not.
Certainly the boom has boosted incomes more in the mining states of Western Australia and Queensland and the Northern Territory. But in the past decade, incomes have increased faster across the country than in the decade before. Regional centres have grown at different rates, but few are left worse off. Benefits have been spread across the country as the boom helped to offset the impacts of globalisation and technological change on lower-skilled workers.
Trade-exposed industries are indeed under pressure, though not all the pressure can be blamed on the boom. High income economies around the world are adapting to the rise of China as a manufacturing power. That would have reshaped the Australian manufacturing sector even had there been no boom.
The high exchange rate has compounded the pressure, with trade-exposed industries catching the so-called ‘Dutch Disease’ of rising costs during a resources boom. But will these sectors be able to respond even if the exchange rate falls, or have they been hollowed out? We examined the record of other countries that had periods of high exchange rates followed by falls. Manufacturing growth grinds to a halt while the exchange rate is high.
But it does not last: we found no evidence that manufacturing is hollowed out by the period of exchange rate elevation. Manufacturing and other trade-exposed industries bounce back quickly to trend.
The concern about a possible recession is less easy to assess, but again we find grounds for cautious optimism. Turning to the historical record, falls in resource prices elsewhere were often followed by recession and years of slow growth.
Those that faltered let capital inflows and inflation get out of control, or got caught up in debt crises, but other countries adjusted and continued to grow. Australia, among resource-rich economies, has had a long record of relatively stable growth, reflecting a mixture of relatively good policy institutions and settings, low exposure to industries prone to sudden contractions such as capital goods manufacturing.
If those policy settings (including decentralised wage setting, effective competition and prudential regulation, floating exchange rates) can be preserved and strengthened, the economy will be best placed to adjust if the boom comes suddenly to an end.
The fourth community concern – that the benefits of the boom have not been saved – is well-founded. The Commonwealth Government has not saved enough of the proceeds of the boom. Tax decreases and spending increases have been larger than Australia can afford in the long run. Some spending was justified by the response to the global financial crisis, and some has been invested, but underlying budget deficits now need to be repaired in more difficult times.
Australian governments need to do more to tighten their budgets, which will permit them to respond strongly if the outlook darkens. Governments should resist temptations to protect industries, but continue to invest heavily in skills and education to help workers and citizens respond to the changing risks and opportunities of a globalised economy.
These will be even more important as the longest and largest mining boom in 150 years winds down.
Jim Minfie is Productivity Growth Program Director at the  <a target="_blank" href="https://grattan.edu.au/">Grattan Institute</a>.
This article was originally published at <a target="_blank" href="https://theconversation.com">The Conversation</a>. 
 
 
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