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“Minister Chanthivong and his team have shown real leadership in replacing an outdated two-year bond with cover that matches the lifespan of the buildings people are buying into.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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The space housing Melbourne’s first Virgin Active health and fitness club has been listed for sale in a move tipped to generate one of the city’s largest strata space sales.  
CBRE has been appointed to market the 138 Bourke Street space, which offers a 15-year lease with options to Virgin Active – one of the world’s leading fitness chains operating more than 266 gyms in the UK, Italy, Spain, Singapore and South Africa with more than 1.2 million members.  
The property is being offered on the heels of Virgin Active recently committing to its second Melbourne facility within the 567 Collins Street office development, being developed by Leighton. It will become the group’s 5th gym in Australia.  
CBRE’s Mark Wizel, Justin Dowers and Josh Rutman will steer the sale campaign for the three-level Bourke Street complex via an expressions of interest process closing 29 August 2013.  
Mr Dowers said the strength of the Virgin Active tenancy covenant was expected to attract significant buyer interest.  
“Rarely do investors have the opportunity to purchase properties of this nature in the east end of the Melbourne CBD, let alone one leased to a single tenant of the calibre of Virgin Active,” Mr Dowers said.  
Virgin occupies the space under a lease expiring in July 2024. The current net annual income is $1,713,000, with a bank guarantee of 12 months.  
Mr Wizel said the gym had a large membership catchment which was supported by the surrounding office workers and residents in the east end of the Melbourne CBD, which is continuing to grow rapidly due to the high density residential development activity in the precinct.  
“The Melbourne CBD is benefiting immensely from the significant growth in population which has been underwritten primarily from Asian migration and the trend towards inner city apartment living,” Mr Wizel said.  
“This growth in residents has increased the demand for service based retailing which has allowed businesses such as Virgin Active to thrive.”  
Mr Dowers said that the timing to offer a securely leased investment such as 138 Bourke Street was opportune given the demand / supply imbalance in the market for properties of this nature.  
“There is no doubt that the low interest rates are bringing a larger quantum of buyers back into the market, with the majority of the interest directing towards retail property with long and secure lease covenants, in addition to consistent rental growth,” Mr Dowers said.
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Investors limber up to buy Melbourne’s landmark Virgin Active gym 

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The Commonwealth Bank has submitted “highly conditional” proposals to bring management of its $12 billion listed property trusts CFS Retail Property Trust and the Commonwealth Property Office Fund in-house.
Both are currently managed by the bank’s wealth arm Colonial First State Global Asset Management.
Offers to internalise both listed property trusts have been received by the responsible entity of the two funds, Commonwealth Managed Investments Limited (CMIL).
It described the offer as a “highly condition, indicative and incomplete".
A sub-committee of CMIL independent directors has been established to consider the proposal.
Approval of unitholders in the trusts is required for proposal to proceed.
“The Board of CMIL can give no assurance that the proposal or any other transaction will proceed,” said company secretary Michelle Brady.
Last week it was announced that the Pacific Retail REIT, had agreed to buy four Victorian shopping centres, worth $446.5 million from the CFS Retail Property Trust.
The Commonwealth Bank has also made a similar proposal to internalise the management of the Kiwi Income Property Trust
The Australian Financial Review notes that Commonwealth Bank is the last of the major banks to retain a direct real estate exposure following ING Macquarie and Westpac’s exit from this space.
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Commonwealth Bank makes offer to bring listed office and retail property funds in-house

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Victoria has trumped the other states to return the best office leasing figures for the 12 months to June: total square metres reportedly leased are up 36%, according to the latest data from Savills Research.
Victorian office leases reported totalled 366,000 square metres - compared to the NSW figure of 320,000 square metres with Queensland next best at 260,000 square metres leased.
Savills national head of research Tony Crabb says the data reveals 273,403 square metres of leasing activity in the Central Melbourne office market and 93,220 square metres leased in Melbourne's suburban markets.
Most of the central Melbourne leases - about 37% - were in the Docklands precinct with the government the dominant sector in the suburbs at 56%.
While Victoria showed the way on volume, NSW had the most transactions with 147, more than double Victoria’s 70. Queensland also had more reported deals with 110 with transactions in SA, WA and ACT totalling less than 100 between them.
<img src="/images/stories/2013/07/leasingchartjuly24.jpg" width="470" height="302" alt="leasingchartjuly24">
Savills’ Victorian state leasing directors Nicholas Farley and Mark Rasmussen say the figures show a stronger demand for Victorian office property than might have been expected.
"Obviously the figures can be a bit misleading given the apparent discrepancy between square metres and the number of transactions, but there is plenty of activity in the Victorian office leasing market, and especially in Melbourne,’’ Farley says.
Incentives encouraged tenants into the market, Rasmussen said, adding that the activity was reflective of a market characterised by strong fundamentals.
"Incentives are doing their job, as they always do, of enticing tenants to sign on the bottom line, but there is also no doubt that Melbourne’s office market is fundamentally strong, with the sort of diverse tenancy profile that works to help shield it from the worst of market downturns.
"That’s what makes the Melbourne market so resilient compared with other states such as Perth and Brisbane, where heavy dependency on one sector of the economy, such as mining, can leave those cities vulnerable.’’
The research revealed that 47,800 square metres of the total square metres leased were pre-commitments in the CBD and fringe markets, while the finance and insurance sector was the dominant non-suburban sector totalling 31% of reported leasing activity, or 85,325 square metres. The property and business services sector had the largest number of transactions at 30.
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Victoria returns best national office leasing figures: Savills

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Sydney’s Wolli Creek and Melbourne’s Parkville were among strong off-the-plan sellers as listed property group, Australand forecast an improved residential performance in second half of 2013.
Australand half-year after-tax profits dipped 1% to $88.4 million for the six months to June 30 due to a lower contribution from its residential division.
Revenue from its residential business fell from $260 million to $192 million as lot sales fell from 489 to 409.
The share price fell 3 cents to $3.47 following the drop in earnings having fallen 11 cents yesterday following the decision by its majority shareholder CapitaLand not to sell its stake after failing to secure an acceptable offer.
“As flagged to the market in February, the lower first half operating profit result was driven by a lower contribution from the residential division given the expected completion of a number of built form projects in the second half,” said Australand managing director Bob Johnston.
“The group, however, expects to deliver growth in operation earnings for the full year of 3% to 4% with a stronger performance expected during the second half of 2013 supported by secured residential sales and the industrial developments currently underway,” he said.
Residential sales contracts on hand increased from 1,316 to 1,793 driven by a strong pick-up across some of its Sydney projects and also a solid performance across its Victorian apartment and house and land developments.
More than half of these contracts (51%) are expected to settle in the second half of 2013 and a third in 2014.
In NSW, contracts on hand increased from 543 as of December 2012 to 905 as of June 2013
The top seller over the six months period was its Discovery Point development at Wolli Creek in Sydney’s inner south, which recorded 179 off-the-plan apartment sales.
One bedroom apartments start from $410,000 with two-bedroom apartments priced from two-bedroom apartments priced from $555,000.
NSW accounted for 22% of Australand's residential business with strong pre-sales over the half-year attributed to products being priced around the median price point.
Australand is heavily exposed to the Victorian residential development sector with 58% of its projects located in the state.
It recorded a rise in contracts on hand in Victoria from 346  in December 2012 to 508 as of June 2013 with improved land sales activity following the re-introduction of first-home buyer incentives for new homes as well as the enhanced National Rental Affordability Scheme (NRAS) expected to assist in the recovery.
Sales were steady in apartment developments with its Lume Carlton project managing 72 sales and 32 sales recorded at Parkville.
Carlton sales total 117 with contracts on hand worth $65 million.
In total 58 contracts worth $29 million have been secured at Parkville, a joint venture with Citta Property, with one bedroom apartments priced from $370,000.
Australand also reported improved trading conditions in Brisbane as affordability and interstate migration levels recover, however the Gold Coast and Sunshine Coast discretionary markets remain “challenging”.
Activity levels improved in WA with rising rents driving tenants to become owner occupiers.
There were 68 lands sales at Byford and stage two of  Cockburn Central project at Kingston is now 95% pre-sold.
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Sydney’s Wolli Creek and Melbourne’s Parkville among strong performers as Australand forecasts improved residential performance in second half of 2013

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The Cypress Lakes country club resort in the Hunter Valley has been bought by a Thai hotel group for $10 million.
In a widely tipped sale, Minor International acquired the resort and management rights to 125 strata-titled villas through its Australian entity Oaks Hotels and Resorts from Singapore-based Lasseters International.
The purchase also includes approvals for a 120-room hotel and two development sites. However, it does not include the 18-hole championship golf course or club house.
The resort, plus adjoining land with up to 232 villas, was valued several years ago at about $150 million, with the villas worth about $100 million.
In 2001, Fairfax reported that Cypress Lakes sold and leased back the land and villas but retained ownership and management of the golf course and club house, the resort centre and some nearby land for development.
The resort is in the same location - Pokolbin -  as the <a href="https://www.propertyobserver.com.au/rural/len-evans-founded-tower-estate-winery-portfolio-listed-and-may-tempt-asian-buyers/2013071563299" target="_blank">Tower Estate Winery portfolio</a> founded by celebrated wine-maker Len Evans and majority owned by former News Corporation chief executive and chairman Ken Cowley which was recently listed for sale.
Lasseters had hoped to offload the Cypress Lakes resort and a chain of Golden Door health retreats in NSW and Queensland for up to $30 million, but Minor International only had eyes for the resort and a 100 hectare site that could attract further development.
About two hours from Sydney, Cypress Lakes resort has a sport, leisure and wine tasting focus with the golf course, three food and beverage outlets, extensive conference facilities across four venues as well as horse riding and tennis facilities. The cellar door is leased to Brokenwood and the strata titled villas are branded as Grand Mercure Apartments.
Jones Lang LaSalle Hotels Group’s Mark Durran and Peter Harper negotiated the sale. ‘’The purchase price hit the mark on price expectations,’’ Harper says.
‘’We are now trying to sell the golf course to other groups.’’
The resort – established in 1996 - had reportedly not been performing well, with the strong Aussie dollar and poor consumer confidence in the economy affecting its revenues. Despite this, several groups were keen suitors, with Chinese and local groups prominent.
It’s reported that Lasseters accepted a $500,000 loss on the deal but are happy to dispose of the loss-making asset.
Things are ramping up for Minor International, which has flagged its intentions to buy in Australian mining towns. Other purchases include the Oasis Resort at Caloundra, Queensland, the Hotel M in Townsville, which it bought two years ago for $18 million, and the management of Sydney’s Regis serviced apartment tower.
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Cypress Lakes golf and country club in the Hunter Valley sold to Thai hotel group for $10 million

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Second-quarter figures released by Jones Lang LaSalle show the average retail vacancy rate for the Australian market rose to 4% in the first half of 2013, from 3.5% in December 2012. 
The average retail vacancy rate in the first half was largely driven by a notable rise in the national CBD retail category, which rose to 6.7% in June 2013 from 5.4% in December 2012.
In contrast, and as this graph shows, there have been only minor increases in average vacancy rates recorded across the sub-regional and neighbourhood centre categories:<img src="/images/stories/2013/larry_uploads/jll_retail_vacancy_rates.jpg" width="470" height="303" alt="jll_retail_vacancy_rates" style="font-size: 0.8em;">
"The latest research indicates that even though many retailers have been strengthening their businesses over the past 18 months, the leasing market is still challenging and it is quite competitive to attract new tenants," says Jones Lang LaSalle’s head of retail, Tony Doherty. 
“While vacancy rates have remained elevated leasing activity is rising, reflecting the higher rate of tenant turnover that is currently occurring as landlords go through the slow process of optimising their tenant mix at a time when demand is less than strong.”
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CBD retail vacancy rates rising: Chart of the week

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So, what is better training to buy a home - business management training where you learn about budgets and goals and organisational structure, or crisis management where you have to deal with threat management, stress and fatigue and on-the-spot decision making?
There’s no doubt that you need to bring a knowledge of budgets and cash-flow and goal-setting to the home-buying process.
They are the skills that help offset the emotion that can often cloud that process.
But once you’ve laid a solid plan, and once you’ve found a home that fits your well-thought-through goals and it’s time to negotiate to buy that home – that’s when crisis management comes into play.
It may seem strange to describe buying a home as a crisis, but it is a situation full of uncertainty and unexpected threats.
As a homebuyer you’re in a position of little knowledge or power and you can often lack the ability to read the signals being put out by people who are experts in their field.  If you get it wrong, it can be potentially disastrous – you can end up with the wrong home (or no home) or end up paying too much for a home.
It’s how you deal with uncertainty that makes all the difference when you’re buying a home. If you’re used to having everything sorted out and tabulated and double-checked, then dealing with the unknowns associated with negotiating on a home can feel pretty unnerving.
We think negotiating on a home is a bit like being an airline pilot or a firefighter – you have to anticipate the worst, while staying calm, and be constantly on the lookout for information and signals that will tell you what to do next.
<table cellpadding="0" cellspacing="0" border="1"><tbody>
<tr>
<td valign="top" width="308" style="text-align: center;">
Business Management Concepts
</td>
<td valign="top" width="308" style="text-align: center;">
Crisis Management Concepts
</td>
</tr>
<tr>
<td valign="top" width="308" style="text-align: center;">
Budgets
</td>
<td valign="top" width="308" style="text-align: center;">
Understanding Human Error
</td>
</tr>
<tr>
<td valign="top" width="308" style="text-align: center;">
Goals
</td>
<td valign="top" width="308" style="text-align: center;">
Situation Awareness
</td>
</tr>
<tr>
<td valign="top" width="308" style="text-align: center;">
Organisational Structure
</td>
<td valign="top" width="308" style="text-align: center;">
Error Chain
</td>
</tr>
<tr>
<td valign="top" width="308" style="text-align: center;">
Synergize
</td>
<td valign="top" width="308" style="text-align: center;">
Threat and Error Management
</td>
</tr>
<tr>
<td valign="top" width="308" style="text-align: center;">
HR
</td>
<td valign="top" width="308" style="text-align: center;">
Pilot, Co-Pilot and Crew Concept
</td>
</tr>
<tr>
<td valign="top" width="308" style="text-align: center;">
Technology and IT
</td>
<td valign="top" width="308" style="text-align: center;">
Checklisting
</td>
</tr>
<tr>
<td valign="top" width="308" style="text-align: center;">
Marketing
</td>
<td valign="top" width="308" style="text-align: center;">
Understanding Cultural Differences
</td>
</tr>
<tr>
<td valign="top" width="308" style="text-align: center;">
Win-Win
</td>
<td valign="top" width="308" style="text-align: center;">
Communications
</td>
</tr>
<tr>
<td valign="top" width="308" style="text-align: center;">
Training
</td>
<td valign="top" width="308" style="text-align: center;">
Stress and Fatigue
</td>
</tr>
<tr>
<td valign="top" width="308" style="text-align: center;">
Sales
</td>
<td valign="top" width="308" style="text-align: center;">
Decision Making
</td>
</tr>
</tbody></table>
 
<hr class="system-pagebreak">
Here are some of the aspects of crisis management that apply equally to negotiating on a home:
Situation awareness - You need to know who to deal with in the negotiating process and who your competitors are, and you need to focus on your goal without being distracted by trivial issues.
At James, we always have two advocates negotiating, one to oversee the negotiation, and another to attend to all the nuts and bolts of the negotiation. That gives us the overview of the situation that means we can focus on the process.
Here are some examples of a lack of situation awareness:
<ul>
<li>
Negotiating with one agent when somebody else buys through another agent
</li>
<li>
Focussing only on hiding your identity from the agent so he doesn’t know you will bid at auction only to see it sold beforehand without you being contacted
</li>
<li>
Talking to agents on many matters e.g. what homes you last visited and liked – that will give a clear guide to your capacity to pay for this current home.
</li>
<li>
Negotiating hard and getting the price going down but forgetting about another buyer who comes in from the side and takes the prize
</li>
<li>
Finding a minor problem (like some minor water damage) in the dream home and turning it into a major issue and not buying. Another version is reading a building inspection report as negative when its actually positive when compared to others.
</li>
<li>
Listening to a lawyer talk about a very negative clause and changing your mind on buying only to find that lawyer includes that clause in all their contracts as well, and sees it as no big deal.
</li>
<li>
Extreme cases, but it happens more often than many sellers think – buyers refusing to buy a home because they “hate” the agent –forgetting they are not living with the agent after they purchase.
</li>
</ul>
Understanding human error – Nobody gets it exactly right always – not even us! The point is to recognise that this can and does happen (on all sides) and when an error is recognised that you have a plan to rebound from that to your advantage.
Dealing with the error chain – In plane crashes it is rare that one thing causes a crash, it is more often a chain of events. It’s the same when it comes to homebuying disasters.
Here are a couple of examples:
<ul>
<li>
Under spousal pressure – under work pressure – under agent pressure – no time to make the right decisions. You pay too much – and the result is an unhappy family
</li>
<li>
You have no plan – no advice – no process – no due diligence – no checks or validation. You end up with the wrong home – and the result is an unhappy family
</li>
</ul>
Make sure you don’t get caught up in a chain or errors that lead to a disastrous outcome. Our job can simply be to break the chain before the results become catastrophic.
Threat and error management - Good knowledge, good systems or processes, good training, good advice and good management break the Chain of Errors – which is what you need to do.
Some key threats in good home buying:
<ol>
<li>
You
</li>
<li>
Other Buyers
</li>
<li>
The Selling Agent
</li>
<li>
Your Buying Agent
</li>
<li>
Market Movement
</li>
<li>
The Seller
</li>
<li>
The Targeted Home
</li>
</ol>
One solution is to manage “exact valuation errors” (where you miss on something you should have bought for a few dollars more) we developed the control price system or range of values which replaced the outdated  “one price valuation with one willing buyer and one willing seller” concept.
Mal James is principal of<a title="James Buyer Advocates" href="https://www.jamesbuyeradvocates.com.au/" target="_blank" rel="nofollow"> James Buyer Advocates</a>, which advocates on behalf of buyers of property over $1 million. Mal writes weekly auction reports, advice and in-depth market analysis on James' website.  This article was orignally published on Property Observer on June 27, 2013.
 
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The 7 key threats to good home buying: Mal James

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For many, renting a property is a stop-gap solution on the pathway to the bigger dream of owning a home. And while renting provides a certain flexibility and potentially affordability the lure of home ownership appears as strong as ever it was.
In <a href="https://www.news.com.au/realestate/buying/uk-mum-fran-bunce-sells-all-her-belonging-to-raise-money-for-deposit/story-fndban6l-1226669467279" target="_blank">a recent story featured on news.com.au</a>, an ambitious English woman has sold everything short of the shirt off her back (again, perhaps she sold that too) to scrape together a home deposit.  Seemingly, she was paying more rent than what her predicted loan repayments would have been.
However it raises the question: how far would you go to own your own home?
Not too far I hope, as the option of home ownership is not as unrealistic as it once was thanks to improving affordability.
These days renting can in fact be more costly than repaying a mortgage in some cases.
At present, this stellar combination of low interest rates, housing affordability and a market on the bounce-back presents a very exciting opportunity for first home buyers.
But what happens if you’re short on the deposit? Or perhaps the bank isn’t willing to give you a go just yet. Short of selling all of your worldly possessions, or giving up on the idea entirely, here are some alternative ways of entering the property market:
Co-buying – also known as shared ownership, joint ownership or co-ownership – is when two or more people decide to spread the financial burden and buy a property together.
More and more often, parents are buying with their children, siblings are buying together, as are friends, extended family members, even colleagues.
By pooling your resources, you can afford somewhere bigger, better and sooner than you could alone.
For those entering the investment market, the obvious advantages include the reduction in capital required and other associated costs involved in buying a property. Better locations can also become more accessible due to the reduced risk.
However, just like a shared tenancy, it’s important to remember that a mortgage mate, a co-buyer or a co-investor is in essence, a partner.
As such, there are significant legal and financial obligations to consider and plenty of due diligence is called for.
Before you jump in, be sure that everyone involved has the same intentions and goals. Short vs. long term ownership, owner-occupied vs. tenanted – you get the picture.
And most importantly with co-ownership, it’s vital that all parties have a legally prepared document – such as a Deed of Trust – when entering into a co-buying arrangement.
Lucky for us, baby boomer parents are increasingly helping their kids into the property market and to be honest, it wouldn’t be the first time we’ve had to ask the parents for a lending hand. 
Creative ways they are giving their children a “leg up” include co-buying where the parent(s) provide the equity and the children take responsibility for paying the debt.
The other arrangement is by way of a guarantee.
The traditional bank guarantee has been replaced by a product that allows a parent to guarantee an amount to supplement the borrower’s deposit. The size of the guarantee can be limited to a specific amount which protects the parent from losing their home should the child default on the loan.
Remembering that purchasing property is a long-term commitment with ongoing costs, it is also a fantastic way to secure a long-term future.
So whether you decide on co-ownership, parental support or a good old fashioned ebay bonanza, it sure would be nice to have something to call your very own.
Amanda Haack is events manager journal deputy editor at the <a href="https://www.reiq.com/" target="_blank" rel="nofollow">Real Estate Institute of Queensland</a>. This article originally appeared on the<a href="https://reiqblog.com/" target="_blank" rel="nofollow"> REIQ blog.</a>
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Creative ways to help first-home buyers get into the property market: Amanda Haack

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The premises of a Domino’s Pizza outlet in the south west rural town of Ararat has been listed for August 7 auction with expectations that it will fetch around $475,000 under the hammer.
It will be auctioned as part of a<a href="https://www.realcommercial.com.au/property-retail-vic-ararat-500808735" target="_blank"> Burgess Rawson portfolio auction.</a>
In previous Burgess Rawson auction, fast food outlets have been snapped up by investors at attractive yields with the presence of a well-known brand name and a long lease proving enticing.
In June, McDonald’s Australia bought back its own Preston, Melbourne premises at auction for $6.45 million reflecting a yield of 5.65% on net income of $365,000 plus GST.
In April a <a target="_blank" href="/news">KFC restaurant in Mentone</a> in Melbourne’s southeast sold for $3.505 million equating to a gross yield of around 6.5% based on rent of around $227,167 per annum.
The Domino's Ararat premises measure 130 square metres and have recently undergone a $200,000 refurbishment undertaken by ASX-listed Domino’s.
The double-fronted shop on two titles is on Ingor Street as part of an established shopping centre with anchor retailers including Woolworths and Bakers Delight.
It is being marketed by Jamie Perlinger and Billy Holderhead of Burgess Rawson.
Domino’s Pizza has signed a new five year lease with 10 years’ worth of renewal options.
Domino’s pays annual rent of around $31,000 with fixed annual increases of 4%.
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Domino's premises in Ararat offers small investors 6% plus yield potential with long lease

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Over the next three years, the Perth CBD office market looks set to be impacted by a combination of weak demand off the back of declining resources investment and rising office completions.
A significant rise in vacancies is not expected immediately, with the vacancy rate forecast to sit around 6 to 7% over the next 12 months.
But with more than 220,000 square metres of office completions forecast over the next three years, we expect the vacancy rate to rise sharply, to a peak of 13% by mid 2016.
On the demand side, office employment growth and net absorption of office space face a sustained period of weakness over the next three years at least as the economic stimulus from construction associated with the minerals resources boom starts to weaken.
This is a key conclusion of BIS Shrapnel’s recently completed Perth Commercial Property Prospects, 2013 to 2023 study.
Based on committed projects, an orderly decline in engineering construction looks most likely over the next three years.
BIS Shrapnel forecast about $110 billion worth of engineering construction projects (or an average of $37 billion per annum) in Western Australia over the three years to June 2016.
Whilst still at historically high levels, the value of engineering construction will be less than the estimated peak of $43 billion in 2012–13.
Critically, a further rise in oil &amp; gas engineering construction (expected to peak in 2013–14 and then fall) is not expected to offset the fall in iron ore investment.
The problem is the record employment levels and demand for office space, seen during the boom years, was underpinned by extraordinary levels of investment, particularly construction, and that growth phase has now finished.
Even the orderly decline forecast will result in a negative contribution to economic growth.
There is a view that the transition from minerals investment growth to production and rising resources exports will drive renewed demand for office space.
Not so. A lot more people are employed during the construction phase of major resource projects than through the production phase.
Perth is geared up to service record levels of minerals investment. As this investment falls, so too will employment and demand for office space.
The CBD in particular has a high exposure to the resources industry, with about half of the office stock occupied by resource companies or those who service them.
The Perth office market has seen a sharp turnaround in demand over the last 6 to 12 months as many resources companies switched from rapid expansion to cost containment and consolidation. This is just the start.
BIS Shrapnel forecasts for net absorption of Perth CBD office space to average just 5,000 square metres per annum over the next three years— significantly lower than the annual average of 45,000 square metres over the nine years to June 2012.
Even if net absorption were to rebound more strongly than we expect, potentially underpinned by demand from oil and gas related projects, the CBD market would still have a hard time absorbing the quantum of office completions due over the next three years.
The Perth CBD office market is at the start of a moderately strong round of office construction.
Over the next three years, BIS Shrapnel estimate 225,000 square metres is due to be completed (or 75,000 square metres per annum).
This level of supply is not that far below the 95,000 square metres completed annually last cycle between 2008–09 and 2011–12.
To date, just over half the 165,000 square metres of new supply underway or committed to start is pre-committed.
However, there is still a lot of uncommitted and backfill space (as tenants move into existing buildings) to be leased in what will be a weak leasing market.
The saving grace for the CBD is that little new supply is due for completion in the next 12 to 18 months. That means the increase in vacancy rate won’t be significant in the short term.
We anticipate the CBD vacancy rate will stay around 6 to 7% over the next financial year.
Our fear is that as more completions come on stream in 2014–15 and 2015–16, the vacancy rate will rise more sharply, potentially up to 13%.
With vacancy rates a key driver of office rents, a sharp rise in the vacancy rate will lead to substantial falls in both stated and effective rents concludes BIS Shrapnel.
Lee Walker is BIS Shrapnel’s senior project manager.
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