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“Minister Chanthivong and his team have shown real leadership in replacing an outdated two-year bond with cover that matches the lifespan of the buildings people are buying into.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

<html><body>
When it comes to judging a property to get a reasonable indication of its value and probable sale price there are three options you might consider.
First, a real estate agent can give an appraisal which is largely an educated guess based on their current sales experience and local knowledge. This is informal but usually pretty helpful as an indication.
Second, an owner or buyer can hire a professional valuer to produce a more formal and authoritative report. These reports are based on sales information held at<a href="https://www.landgate.wa.gov.au/corporate.nsf" target="_blank"> Landgate </a>and from information obtained from real estate agents on recent sales not yet reflected in the government data. Usually these are the reports which banks and legal bodies will accept as valid for lending and legal purposes.
A professional valuation removes any perception that there might be a bias on the part of real estate agent appraising a property and is regarded as more independent.
Thirdly, the option to pay for a property report from one of the many private companies which are not valuers. However, people thinking of doing this should be aware there can be limitations to this.
Most of the companies which provide this service are based on the east coast of Australia and have few or no staff here.
This means that the reports are largely put together based on Landgate data showing the last sale price and then calibrated to place the property in the context of the current market.
While that might sound quite reasonable, such reports can only be based on the unimproved value of the property since its last transaction.
For example, if a property was purchased in 2005 and the owner demolished the old house and built a bigger one in its place, then this would not be known by a property group based in Sydney or Melbourne.
They would only know of the 2005 sale price, even though the site now has a completely different value. It’s a similar situation if an owner puts in a pool, adds a second story or patio, or maybe constructs a lock-up garage.
These things are not readily detectable through an arms-length report based on data rather than being produced by actually sighting the property and being familiar with its history.
If you solicit a property report from a company that deals in real estate data, make sure it can measure the current improved value of the property and not rely simply on historical sales information.
Better still, engage a local valuer if you need a formal, legal valuation or contact a REIWA agent for an appraisal if that’s all you require.
Either way, it pays to use the local services of those who know your neighbourhood.
David Airey is president of the <a href="https://reiwa.com.au/home/default.aspx" rel="nofollow" target="_blank">Real Estate Institute of Western Australia.</a> This article was originally published on <a href="https://reiwa.com.au/Faq/Pages/Feature.aspx" rel="nofollow" target="_blank">reiwa.com</a>.
 
</body></html>

dairey-MVZf5ZguQC

What is the best way to judge the value of your property?: David Airey

<html><body>
Just Sydney, Adelaide and Canberra notched up a quickening  of pace sales in July, according to Australian Property Monitors.
Sydney remains the fastest selling  capital city at 73 days, with Canberra narrowing the gap at 78 days. 
Brisbane and Adelaide swapped places for the slowest selling capital city.
<img height="697" width="470" src="/images/stories/2013/07/apmheathcartjuly29one.jpg" alt="apmheathcartjuly29one">
</body></html>

jchancellor-FAypfDUnLy

Sydney remains the fastest selling capital city as Canberra narrows the gap: APM heat chart

<html><body>
The former Miss Universe Jennifer Hawkins and her husband Jake Wall have spent $1.66 million on their sixth investment property.
<a target="_blank" href="https://www.domain.com.au/Property/For-Sale/House/NSW/North-Curl-Curl/?adid=2010301124">Its a knock-down-rebuild in their home suburb of North Curl Curl on Sydney's Northern beaches</a>.
The keen property investors snapped up the property just before heading to Bali for their wedding.
They have reportedly lodged a development application for $900,000 of new works, including a new swimming pool.
The building site comes with views of the ocean, the lagoon and even a hint of the city skyline  from its  762 square metre parcel of land.
There is currently a three bedroom single storey beach cottage at the Pitt Street address which sold through Bernard Hachenberg and Graham Bennett at Ray White Freshwater.
Hawkins has leveraged her fashion runway success to build a reported $10 million plus business and property empire, according to weekend News Ltd paper reports.
Reporter Jessica Irvine tallied Hawkin's property holding as six.
Ms Hawkins is currently launching a new business of self tanning lotions called J Bronze.
There was another nearby cottage that sold recently at auction. Cute as a small button, but likely to be bulldozed.
<a target="_blank" href="https://www.propertyobserver.com.au/residential/classic-north-curl-curl-beach-house-sells-for-%24126-million/2013071363231?utm_source=po&amp;utm_medium=aida&amp;utm_campaign=newsplus">It was a $1.26 million sale of a classic two bedroom, one bathroom beach cottage</a>.
The 76 square metre house that sits on a 310 square metre <a target="_blank" rel="nofollow" href="https://www.propertyobserver.com.au/https://www.raineandhorne.com.au/deewhy/properties/287055">6 Surf Road </a>block was listed by Lauren Haines at Raine &amp; Horne Dee Why.
It has more limited views - being over the adjacent Flora Reserve towards the beach and ocean.
The revamped classic beach house sits on 311 square metres of level land.
"Move straight in and plan your next home, rent it out, or just enjoy this beach house in this magical position as it is," the marketing said. There were eight registered bidders at the on-site auction.
It last sold at 385 pounds in 1954.
 
<div id="imagetrackPlayer-36776"></div>
</body></html>

Jennifer Hawkins' sixth investment property - a $1.66 million North Curl Curl knockdown

<html><body>
The REIV have released their June quarterly statistics which show a seasonally adjusted 2.4% rise in the median house price with the comment
“The release of the REIV's June quarter median prices should help encourage a few more sellers into the market over spring as it shows the price falls recorded in 2011 have been recovered.”
This takes Melbourne’s median house price from a ‘revised’ $549,000 in the March quarter of this year which – (as <a target="_blank" href="https://www.propertyobserver.com.au/victoria/the-reiv-s-strongest-march-quarter-in-over-a-decade-for-melbourne-never-actually-existed-terry-ryder/2013072263466">Terry Ryder also noted Tuesday last wee</a><a target="_blank" href="https://www.propertyobserver.com.au/victoria/the-reiv-s-strongest-march-quarter-in-over-a-decade-for-melbourne-never-actually-existed-terry-ryder/2013072263466">k</a> and <a target="_blank" href="https://www.streetnews.com.au/why-are-melbourne-median-prices-different-between-data-providers/">myself on Monday last week</a>) - is a ‘not so insignificant’ drop of - 2.23% decrease to the figure the REIV initially published in April of $561,500 – to the now ‘seasonally adjusted’ June median of $562,000.
In other words, had the numbers been taken on face value, without subsequent revision, Melbourne would have simply been treading water.
All of this means little to the average buyer who simply reads the headlines and has little time to dig into the detail – however at the time, the REIV heralded the first quarter of 2013 to be the ‘strongest March quarter in a decade’ which was somewhat surprising considering the ‘unadjusted’ March median actually dropped -0.9%.
Of course, the only reason it could be stated as such, was because their December 2012 median had also been ‘seasonally adjusted’ &amp; revised from $555,000 to $534,000 – a drop of -3.7%.
The REIV only started seasonally adjusting figures at the start of this year, therefore the December adjustment was made ‘post’ the initial release in which the REIV claimed a 7.8% jump in the median house price under the headline: "<a target="_blank" href="https://www.google.com.au/url?sa=t&amp;rct=j&amp;q=&amp;esrc=s&amp;source=web&amp;cd=1&amp;cad=rja&amp;ved=0CCwQFjAA&amp;url=http%3A%2F%2Fwww.reiv.com.au%2FNews_Publications%2FNews%2520Archive.aspx%3FnewsID%3D%257B7C295CB9-9FB6-42D9-83E9-7DFFA0F00AEB%257D%26title%3DGrowth%2520returns%2520to%2520Melbourne%2520housing%2520market%2520in%2520December%2520quarter&amp;ei=4gzyUeiPEai9iAfxp4HgDg&amp;usg=AFQjCNHoXM0aphL1NtAO4TG5vZqeylmJ4Q&amp;bvm=bv.49784469,d.aGc">Growth returns to Melbourne housing market</a>."
I remember this well, because it prompted a joyful remark I overheard one agent relay to his ‘investor’ client, that this would equate to more than “30% capital growth for Melbourne over the following 12 month period if it maintained pace” - thankfully a comment that will remain pure fiction.
As a general rule, seasonal adjustments are calculated by looking at the ‘average’ seasonal shift during the same quarter over a lengthy time scale.
The information is then used to calculate the amount to either add, or subtract, from the raw data.
Whilst it can be useful from a trend perspective (smoothing out the bumps), there is scant information on the REIV website to explain how a drop of -0.9% can be converted into in to a somewhat robust ‘rise’ of 5.1% in a market which, although improving, was certainly not doing as well these numbers would indicate.
 
<hr class="system-pagebreak">
 The reason figures are revised, is because all data providers suffer from a lag in reported results.
These typically filter in over the 3 month period ‘post’ the quarterly release from valuer general data – the most authoritative and comprehensive source of sales information we have.
Therefore, the median price home buyers and investors are reading for this quarter, and the emphasis that is put on it as newspapers go to town with boom or bust headlines, is likely to alter significantly when the next release is due. Therefore, it is arguably a misleading ‘quarterly’ indicator of true market movements. 
In other words – any ‘newly’ released quarterly data needs to be taken with a pinch of salt.
With this in mind, it makes the daily index – which is neither seasonally adjusted and would also miss a wide proportion of lagging results - laughable.
Investors are often fixated on median prices. 
The major investment magazines have extensive tables of figures and percentages covering the back pages. Agents use them to their own ends with comments such as "prices have increased 10% year on year over the past 5/10 years for such and such a suburb."
However whilst the median figure may have increased – the ‘middle’ figure of all cited sales – individual property prices, and the changes a property may go through in terms of renovation and extension, which would therefore warrant a higher capital price outside of natural increases, is not always represented in the information provided.
It should also be noted that each provider uses a slightly different methodology when collating their statistics.
For example, the REIV record a ‘seasonally adjusted’ 8.4% rise to the median from this time last year which seems to suggest Melbourne is coming on leaps and bounds. 
However, the ABS show an increase of just 1.1% (to March 2013) - APM: 6.1% (to June 2013) and RP Data: 3.3% (to June 2013) making the REIV’s median figures higher that of every other data provider.
 
<hr class="system-pagebreak">
But, the REIV are not the only culprits when it comes to publishing data misnomers.
As economist <a target="_blank" href="https://www.macrobusiness.com.au/leith-van-onselen/">Leith Van Onselen</a> pointed out to me in a conversation we had regarding APM’s results:
“In its March quarter release, APM reported that Melbourne house prices led the nation, rising by 3.6% over the quarter to $538,922. What was not mentioned in their commentary, however, was that some of Melbourne’s reported strong price growth was caused by a -1.1% downward revision to the December quarter......And in their June quarter results, APM once again reported that Melbourne led the nation, recording 5.0% growth over the quarter and 6.1% growth over the year. However, part of this strong quarterly rise was caused by a downward revision to March's median house price to $527,245, without which Melbourne would have recorded 2.7% growth."
As Leith points out, without the subsequent revisions “ Melbourne's annual price growth would have come in at a more moderate 4.2%.”
One indication towards the stark contrast in REIV statistics is because unlike the other indexes, they do not stratify their median figures to reflect different aspects of each housing type outside of the broad description of units and houses.
This creates significant problems for those using the information as a source of market analysis.
In REIV terms, a unit could be a small villa on a subdivided block of typically six to eight free standing or attached dwellings - a one or two bedroom apartment or flat, in either a low rise or high rise block , a high spec townhouse on a ‘side by side’ subdivision, or a bedsit. 
Obviously, this can create distortions when assessing the information.
The same is the case for housing, median house prices cover detached houses, terraced houses, semi-detached houses, residential warehouse conversions, holiday houses and duplexes. Because the REIV don’t distinctly classify their results, we also see big differences in individual suburb changes.
 
<hr class="system-pagebreak">
For example, according to the June stats, Hawthorn’s unit median has increased 20% from the last quarter.
However, there should be no confusion here – individual unit prices in Hawthorn have not increased 20% – this is median data, and without stratified statistics, the median price can easily be boosted with different property types being lumped under the ‘unit’ banner.
To publicize these figures, with full knowledge of the reaction it will create, should be an area of concern, yet one which is ignored in the mainstream press.
Albeit, from an anecdotal perspective, property prices in Melbourne have increased throughout the course of 2013.
As an example, a unit which based on comparable data from late 2012 and early 2013, would be worth anything in the region of $420,000-$440,000 – under current competition, often ends up selling 2-3% higher.
This is an effect which is primarily noted in the inner and middle ring established suburbs of the city where auction sales predominate and an intense level of investor and speculative activity is evident.
Most results are staying broadly within these parameters; however, I’ve seen some crazy activity of late as mini bidding wars in various pockets have rippled across all price brackets
This can have quite a dramatic impact on both vendor expectation (as owners see neighbouring properties sell above their pre-estimate of value) and buyer physiology. Property shoppers realise they need to ‘up the budget’ to exceed what is perceived to be some kind of boom time terrain, producing gains that cannot be sustained over the resulting period – and in the current economic environment – will most likely eventuate to be nothing much more than a short term rally.
As most sales across Melbourne are conducted private treaty, the effects on the median data across the board would be minimal, and really only feed into inner city figures where auctions are the preferred method of sale.
In truth – from a macro perspective, as the latest RPData report highlights, “In five and a half years, growth in capital city home values has not increased at a rate higher than inflation”.
It should be noted that Australia is facing some significant headwinds which will have an impact on the property market in the months and years ahead.
Full time jobs growth is weak and both hours worked along with levels of underutilisation are deteriorating. 
As the mining construction boom unwinds, non mining industries underperform, and we pull in our belts with fiscal consolidation, it’s likely we’ll see little change over the months ahead. The short term data is volatile and somewhat unreliable albeit, the long term trend is clear.
We’re entering an era of slow growth and it’s yet to be seen if it will be stable growth.
In this respect, when you lift the blanket on unemployment data the trends are concerning and certainly not as good as the headline rate suggests.
Outside of keeping interest rates low, or offering grants for new homes to enable buyers to take on a larger proportion of capital debt, <a href="https://www.propertyobserver.com.au/economy/the-failed-politics-of-housing-affordability-catherine-cashmore/2013072163429" target="_blank">there are no long term sustainable solutions offered from either side of politics. </a>
The speculative behaviour we’re currently seeing in various pockets of capital city markets as investors lead the widely spruiked ‘housing recovery,’ neatly packaged under the words ‘typical market cycle’ as different states go through their own ‘wax and wane’ periods of supply/demand activity.
This will have far wider impacts for our younger and future population of buyers than is fully recognised across the broader population that already own a home, or are paying off a mortgage.
Catherine Cashmore is a market analyst with extensive experience in all aspects relating to property acquisition.
 
 
</body></html>

catherinecashmore-6LXia3pPQj

The property industry's game of dodgy economics figures: Catherine Cashmore

<html><body>
The Block Sky High contestants Matt and Kim's marketing campaign kicked off with only 17 days until the auction hammer.
<img height="353" width="470" src="/images/stories/2013/07/mattandkimjuly10one.jpg" alt="mattandkimjuly10one">
While other contestants secured agents months earlier, Matt and Kim were slow to secure an agent and get the marketing campaign underway.
In the end the selling agent sign board showed the agent was Kent Morgan of the recently established Morgan Realty who was familiar with The Block as he sold the <a target="_blank" href="/news" style="outline-style: none; color: #6888b1; text-decoration: underline;">challenge house</a> for the 2012 Dorcas Street terrace series of The Block when he worked with the Frank Gordon Port Melbourne agency.
He also listed the <a target="_blank" href="/news">four unrenovated Dorcas Street terraces</a> and <a target="_blank" href="https://www.propertyobserver.com.au/auctions/rootop-study-v-bar-four-bedrooms-v-three-dorcas-street-block-floorplans-indicate-the-auction-battlelines/2012060154945">Dan and Dani's South Melbourne terrace</a> when he was at RT Edgar.
However come auction day the Morgan name and streetside sales billboard was gone.
All replaced by the Sydney auctioneer <a target="_blank" href="https://twitter.com/damiencooley">Damien Cooley </a>of <a target="_blank" href="https://twitter.com/CooleyAuctions">Cooley Auctions </a>who had been previously engaged just to fly down for the auctioneering. There was also the close attendance by McDonald Real Estate Aspendale Gardens auctioneer Michael Choi who appeared to be assisting Cooley.
<img height="629" width="470" src="/images/stories/2013/07/cooleyjuly29one.jpg" alt="cooleyjuly29one">
Mystery surrounds the departure of Morgan.
Title Tattle hasn't noticed much Twitter although there was something from <a target="_blank" href="https://twitter.com/The_Block_News">Aroundthe block</a>.
<a target="_blank" href="https://twitter.com/The_Block_News"><img height="92" width="470" src="/images/stories/2013/07/cooleyjuly29tweet.jpg" alt="cooleyjuly29tweet"></a>
 
Cooley was no stranger either to the show as last night's auction marked the fourth time Cooley Auctions has starred on Channel Nine’s TV series The Block.
The winning Adelaide twins Alisa and Lysandra secured <a target="_blank" href="/news">Anton Wongtrakun and Rochelle Wilson of Dingle Partners</a> who were then involved in the planning and design process from the earliest of weeks.
</body></html>

Sydney auctioneer Damien Cooley takes star billing as last minute Block Sky High listing agent

<html><body>
It appears that shadow treasurer Joe Hockey is getting under the skin of economist Stephen Koukoulas, who has tweeted to his more than 10,000 followers his annoyance at those who slam economic forecasts and projections, calling them "hypocrites" for not making their own forecasts:
<a target="_blank" href="https://twitter.com/TheKouk"><img alt="kouk_tweet1" src="/images/stories/2013/larry_uploads/kouk_tweet1.jpg" width="470" height="77"></a>
"The Kouk" followed up this tweet a short while later with the following three tweets, making no secret of who he is talking about:
<a target="_blank" href="https://twitter.com/TheKouk"><img alt="kouk_tweet2" src="/images/stories/2013/larry_uploads/kouk_tweet2.jpg" width="470" height="254"></a> 
</body></html>

po-LsXgBTHBmX

Joe Hockey gets under the skin of Stephen Koukoulas: Tweet of the day

<html><body>
Daniel Grollo’s Grocon development group is partnering with private developer Harry Stamoulis on plans to build a $600 million office tower at 555 Collins Street.
An earlier proposal by the Stamoulis Property Group to build a 404 metre tower on the Western side of Collins Street, just behind the Rialto Tower, was deemed too tall and there were also concerns it would cast a shadow over the Yarra River.
Grocon and Stamoulis are working on a proposal for an office tower to feature around 60,000 square metres of prime space and are already seeking out potential anchor tenants, reports the Australian Financial Review.
There is currently a 24 storey building on the site built in 1975 and owned by the Stamoulis Property Group. It is leased to NAB, with the lease due to expire in 2014.
The partnership with Grocon, should add gravitas to the Stamoulis proposals – the Rialto Tower at 524 Collins Street, once the second tallest building in Melbourne after the Eureka tower was developed by the Grollo family and completed in 1986.
It is all part of efforts to regenerate the less glamorous Western end of Collins Street with construction now underway of the 26 storey 55,000-square-metre office building at 567 Collins Street on the site of a former ‘black hole’.
<a target="_blank" href="https://www.propertyobserver.com.au/retail/richard-branson-s-virgin-active-group-virginactiveoz-exercises-leasing-deal-at-leighton-properties-567-collins-street-development/2013060661996">567 Collins Street, being built by Leighton Contractors</a> and due for completion in 2015, was acquired by Investa Office Fund (IOF) and Investa Commercial Property Fund (ICPF) earlier this year and has signed Richard Branson's Virgin Active gym group as ground floor tenants with other tenants including law firm Corrs Chambers Westgarth who will lease 8,800 square metres.
GPT has recently “revitalised” its premium grade 530 Collins Street, which now has a 5.5 star NABERS Energy rating.
Office space in the tower was advertised for lease last year via an advertising campaign that included street performers and tram advertising, which won Jones Lang LaSalle the REIV’s 2012 Commercial &amp; Industrial Marketing Awards.
</body></html>

lschlesinger-FZcF9M3vE6

Daniel Grollo's Grocon joins forces with Harry Stamoulis on 555 Collins Street tower project

<html><body>
Singer Guy Sebastian has secured the pre-auction $2.22 million sale of his Clovelly home.
<a target="_blank" href="https://www.propertyobserver.com.au/https://www.gdrealestate.com.au/recent-sales/0000112695">The four-bedroom Knox Street house </a>had eight contracts issued since it was on the market through Jason Pantzer of GoodyerDonnelley.
The singer and his wife, Jules, had been seeking $2 million plus for the three level abode.
The X Factor judge bought the architect-designed house <a target="_blank" rel="nofollow" href="https://www.propertyobserver.com.au/https://www.mcgrath.com.au/buy/house-clovelly-nsw-2031/112872">in 2010 for $2.15 million</a>. The $70,000 gain would not have covered the $103,000 initial stamp duty.
Its living and dining areas are set over the top floor, with three bedrooms on the middle space and a fourth bedroom and rumpus room on the lower level. 
<a target="_blank" href="https://www.propertyobserver.com.au/residential/singer-guy-sebastian-seeks-to-cut-and-run-from-clovelly/2013070463003">The Sebastian's appeared to be in a similiar price predicament</a> as Braith Anasta and his wife, the actor Jodi Gordon who also recently escaped the Clovelly price downturn.
The injured Wests Tigers champion Braith Anasta secured $1,855,000 when their four-bedroom, two-bathroom Clovelly home sold having been bought for $1,805,000 in 2011 by Anasta.
RP Data gives Clovelly's median house price as $1.635 million, down 12 % over the past year.
Its down 4% over the past five years, according to RP Data.
<a target="_blank" href="/news">The average discounting required of private treaty vendors is typically around 10% to secure a sale</a>.
The Sebastian's have been looking to stay in the coastal strip with a mind to getting lawn space and less stairs for the couple's son, Hudson.
</body></html>

Singer Guy Sebastian secures Clovelly home sale

<html><body>
There are really only three reasons why a property doesn’t sell. There is something wrong with it that’s difficult and expensive to fix, the selling agent they have chosen is pretty ordinary or it’s way overpriced for what it offer.
Many people believe that if a property has been on the market a long time thenthere’s probably something wrong with it.
However, the most common reason why a property has not sold is because it’soverpriced.
When a property is overpriced it often takes the sales agent several weeks, sometimes several months, to adjust the vendor’s expectations down to fair market value. By the time they do this, the market perception of that property is that it’s a lemon.
Buying overpriced properties after they have been listed for sale for a long time is often where we get some of the best genuine bargains. The vendors are usually over the stress, open homes and sales process and if you deploy good negotiation tactics at the right time you can get some great deals.
In many of these instances, there have been no offers at all which significantly reduces the buying competition for you.
Alternatively if you find out that the seller has turned down multiple offers for less money, then it might simply come down to a matter of timing. Next time you see a property that’s been on the market for a couple of months or even longer, don’t automatically ignore it as many people do.
If it meets your needs, and the building and pest inspection checks out, then youmight even be able to buy it below market value.
Patrick Bright is a Sydney-based <a target="_blank" href="https://www.epspropertysearch.com.au/patrick-bright">buyer’s agent and the author</a> of four real estate books in his ‘Insider’s Guide’ series. 
</body></html>

pbright-aNtgvRfvJN

Bargain can be found in overpriced properties: Patrick Bright

<html><body>
Auction clearance rates have improved substantially in many markets this year, John McGrath has recently noted.
"The clearance rate is up by about 20% on last year and hit a peak of 81% last week, acording to Australian Property Monitors.
"That’s a very strong rate of sale and reflects an increasing urgency among buyers to secure their next property before the market really takes off," he said.  John McGrath saud when there was an urgency in the marketplace, "it’s not uncommon to see buyers making offers on properties in the first week of the campaign."
He suggests with many buyers having been sitting on the sidelines for years, "they’re more than ready to get a deal done now that the bottom of the market has passed."  "We have been noticing a lot of pre-auction sales occurring in today’s market," he said.
"In a rising market, it’s to your advantage to secure the property without the competition of others.
"But if there’s a lot of interest in the property and market conditions are strong, the vendor will probably be more inclined to go through to auction.
"So if you want to buy prior, you need to play your cards right to entice the vendor to sell early," he advised on his blog.  Here are his top tips for buying prior to auction:
<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/NUMBERS/numberonejuly11.jpg" alt="numberonejuly11" width="30" height="38">Tell the agent you’re interested and ask if the vendor is willing to sell privately. If the agent gets a flood of offers after the first open and you haven’t made yourself known to them as a serious buyer, you might not get the chance to make an offer.
 <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/NUMBERS/numbertwojuly11.jpg" alt="numbertwojuly11" width="30" height="35">Let the agent know you have pre-approved finance. This is a very important signal that you’re a serious buyer.
 <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/NUMBERS/numberthreejuly11.jpg" alt="numberthreejuly11" width="30" height="39">Offer a price that is close to your walk-away figure. Vendors will only entertain the idea of selling prior if a premium price is put forward. As with all negotiations, the vendors will assume your first offer isn’t your best so leave some wiggle room.
 <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/NUMBERS/numberfourjuly11.jpg" alt="numberfourjuly11" width="30" height="39">Waive your right to a cooling off period to show you’re a serious buyer.
 <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/NUMBERS/numberfivejuly11.jpg" alt="numberfivejuly11" width="30" height="33">Do more than a verbal offer. The best way of showing you’re serious is by signing the contract and attaching a cheque for the deposit. Alternatively, put your offer in writing and mention you have your finance approved.
 <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/NUMBERS/numbersixjuly11.jpg" alt="numbersixjuly11" width="30" height="35">Offering odd amounts is a great tactic especially after making a couple of lower offers. For example, rather than offering $460,000 or $465,000, offer $463,500.  An odd amount suggests there’s some logic to your offer and it also implies that you’re at your financial limit.
 <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/NUMBERS/numbersevenjuly11.jpg" alt="numbersevenjuly11" width="30" height="36">Be prepared for a situation where you and another buyer are at the same price, so it will come down to a race to exchange. If neither of you are willing to offer more, it will be a matter of who can get themselves organised and in a position to sign the contract first.
</body></html>

Latest Investing Insights

Safari Group offers low-touch investment proposition in Queenstown’s popular ski fields district

Editor's Picks

Developments

New apartments

New townhouses

News

Latest Investing Insights

Safari Group offers low-touch investment proposition in Queenstown’s popular ski fields district

Editor's Picks

Receive the latest news stories to your inbox

Developments

New apartments

New townhouses

News