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“Minister Chanthivong and his team have shown real leadership in replacing an outdated two-year bond with cover that matches the lifespan of the buildings people are buying into.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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A local Melbourne investor has bought an office/warehouse at Oakleigh in Melbourne's south east for $550,000.
The tenanted premises 58 Regent Street, Oakleigh sold for above the reserve through Ray White Commercial Oakleigh’s Ryan Amler and George Kelepouris on behalf of a local investor. 
The current tenant is on a month to month lease returning $31,800 per annum plus GST plus outgoings - a yield of around 5.7%.
Amler said the marketing campaign for the building attracted more than 30 enquiries. 
“We had four registered bidders at the on-site auction and after some spirited bidding the property sold under the hammer for $550,000 - $75,000 above the reserve,” he said.
The stand-alone warehouse is situated on a land area of around 484 square metres and the total building area measures around 330 square metres. 
“The property featured a high clearance warehouse with a container height electric roller door,” he said. 
“There were six on-site car spaces and easy access to Oakleigh central.” 
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Private investor buys south east Melbourne warehouse for $550,000 at auction

A circa-1911-built church in the Orara Valley, NSW, has been&nbsp;sold for $180,000.

The&nbsp;heritage property is at<a href="https://www.nswrealestate.com.au/pol/property/search.asp?f_propertyID=1914640&amp;xsl=2943" target="_blank">&nbsp;612 Upper Orara Road&nbsp;</a>.

Under provisions of the Coffs Harbour LEP 2000 this &lsquo;Rural 1A&rsquo; zoned property can be converted into a dwelling, with the addition of a bathroom and kitchen.

The Coffs Harbour-based NSW Real Estate agent Grant Larsen, who negotiated the sale, says the new owners intend to restore the building to its former glory and convert it into a dwelling for their own use.

Larsen says he received solid interest in the property during the marketing campaign.

&ldquo;The property received over 6,600 views on the internet sites and in excess of 50 buyer inspections,&rdquo; he says.

According to the property listing the former Anglican Church is &ldquo;a high quality example of a &lsquo;carpenter gothic style&rsquo; church from the early 20th&nbsp;Century.&rdquo;

One of four Anglican Churches in the Orara Valley, it has solid timber walls, high-pitched timber ceilings, exposed timber trusses, arched doors and leadlight windows as well as front, side and rear entrances.

Situated on 1,011 square metres of land and nestled amongst liquidambar trees the property was built from local timbers hauled to the site by bullock dray.

It was originally listed at $235,000.

&nbsp;

&nbsp;

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Century old Orara Valley church sells for $180,000

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Despite record retail property transactions in 2012 and continued keen interest from both institutional and private investors, the sector is faces its greatest challenge since the post-GFC period, according to BIS Shrapnel. 
Profits are expected to fall and store vacancies to rise as retailers and landlords struggle against numerous structural headwinds including modest retail turnover growth, the continued growth of online shopping, continued high savings rates coupled with the lack of an economic boom, a peak in new retail commencements in 2013–14 and a substantial depreciation in the Australian dollar. 
Investors in strong shopping centres should expect solid, but not spectacular returns.
For those in less successful centres, returns will most likely weaken.
Yields may firm in the short term as investors continue to be attracted to the sector, but BIS Shrapnel says overseas investors are likely to be less aggressive when the Australian dollar is lower, especially if bond rates rise. 
A key concern is the devaluing of the Australian dollar, which fell 8% over the course of the 2013 financial year. 
“Based on our forecasts of a 23% depreciation against the Trade Weighted Index (the Australian dollar’s performance against the currencies of its biggest trading partners), we estimate that a retailer which imports 50% of product sold will see its profitability fall to zero if it is to continue to pay current rents,” says Maria Lee, senior project manager at BIS Shrapnel and author of a new report looking at retail property market prospects between now and 2023. 
“Clearly, this is not sustainable. This will impact their ability to pay rent, and vacancies could also be expected to rise.” 
Taking all factors into account, BIS Shrapnel forecasts shopping centre incomes to grow at an average pace of just 2% per annum over the next five years—failing to keep pace with CPI inflation. 
As the chart below shows, operating profit as a percentage sales is expected to fall over the next four years from around 7% currently to less than 5%. 
<img src="/images/stories/2013/larry_uploads/bis_shrapnel_forecasts.jpg" width="470" height="194" alt="bis_shrapnel_forecasts">
As a consequence retailers and shopping centre owners are going to have to work harder than ever to remain relevant and sustain growth.
 
“In our view, retail property faces its greatest challenges in decades—barring the immediate post-GFC period,” says Lee. 
The report estimates that the market share of Internet retailing could likely increase from 6% at present to 11% within five years. 
“What this means is that more than $3 out of every $10 of additional expenditure will go online,” says Lee. 
“Put another way, the turnover growth through shopping centres would be a full one percentage point higher without the growth of online shopping. That’s highly significant.” 
The impact of a growing online shopping channel is two-fold says Lee. 
Firstly, it takes market share from “traditional” bricks-and-mortar retailing and secondly, through the use by shoppers of price comparison websites or apps on mobile phones, retailer profit margins are impacted as consumers demand a price-match in order for them to buy there and then. 
“The weak prospects for income growth have clear implications for total returns to retail property,” says Lee. 
“Pre-GFC, even if income growth was weak, total returns were nonetheless solid thanks to the long term firming of yields. But that process has run its course and we don’t expect to get back to 2007 yields before the next boom—which is unlikely to be in this decade.” 
“Nonetheless, strong retail centres remain a good cashflow business with relatively little fluctuation in income returns. Retail property offers solid, if not spectacular, returns.”
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Retail property landlords facing “greatest challenge in decades” with retailing profits set to fall over next four years

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The Fairfield-Liverpool region in the heart of the outer western Sydney growth corridor has regained the unwanted title of most mortgage delinquent region in Australia, according to Fitch Ratings.
The Gold Coast East region which includes the coastal suburbs of Broadbeach, Surfers Paradise and Mermaid Beach, temporarily replaced Fairfield-Liverpool at the end-September 2012 for the first time in seven years, but has now dropped to third most delinquent region following a small improvement.
Between September 30 and March 31 the proportion of mortgage holders more than 30 days behind on their mortgage repayments in Fairfield-Liverpool increased from 1.82% to 2.37% - around one in 42 borrowers.
<img height="212" width="470" src="/images/stories/2013/larry_uploads/fitch_ratings_regions.jpg" alt="fitch_ratings_regions">
The Fitch Ratings report indicates a wider problem managing mortgage repayments in western Sydney with outer south west Sydney ranking fifth (delinquency rate of 2.25%), Blacktown ranking ninth (1.98%) and outer western Sydney ranking 10th (1.96%).
The Gold Coast East 30 plus days arrears improved by 15 basis points to 2.29% at end-March 2013, but 90+ days arrears were still high at 1.22% (versus 1.14% in September 2012).
It ranked as third most delinquent region in Australia behind the struggling Central Coast retiree region between Sydney and Newcastle.
The top 10 worst performing region list is dominated by outer Sydney and Gold Coast regions, with Hume City in Melbourne’s North – lower socio-economic location – ranking eighth.
Fitch notes that Blacktown has returned to the 10 worst-performing regions list by value as delinquencies increased by 43 basis points in the six months to 31 March 2013.
Fitch Ratings analyst James Zanesi tells Property Observer that many borrowers in the Fairfield-Liverpool region would be classified as on lower incomes with less of a  financial buffer to protect them from short term shocks such as unemployment.
He says more borrowers in this region fall behind on mortgage repayments due to Christmas spending, but then tend to cure their delinquency over the next few months.
He says lower income regions always perform worse than other regions, but the extent of the increase in the delinquency rate in Fairfield-Liverpoolwas unexpected.
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Greater Western Sydney replaces Gold Coast as most delinquent region: Fitch 

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The sale of the former Amcor paper mill in Alphington for $120 million last weekend has been touted as the highest priced residential land sale in Melbourne’s history.
The 16.46 ha site fronting Heidelberg Road will become, according to Glenvill Homes CEO Len Warson, "a premium river-fronting community so well located and so close to the CBD.’"
His company will build a mini-suburb of high quality, medium density housing consistent with local neighbourhood character for around 3000 residents.  
Colliers International handled the sale, on behalf of Amcor, to a local consortium led by Alpha Partners Pty Ltd and the Glenvill Group. Colliers International’s John Marasco, managing director of capital markets and investment services, and Peter Evans, national director of corporate solutions, led the way.  
“This is the largest infill residential land sale in Melbourne’s history,” Marasco said. “Colliers International considers this the best development opportunity in Australia at present.”  
Amcor announced the sale, which is subject to regulatory approvals, to the Australian Securities Exchange yesterday.  
Guy Nelson, of Alpha Partners, said the site would become a sought-after residential development.
"I am very conscious of the history of the site and its significance to the local surroundings and was pleased to find a development partner such as Glenvill to help deliver what will be one of Melbourne's new premier residential addresses."  
Warson said the purchase underpinned Glenvill’s strong future growth prospects. “This is a once in a lifetime opportunity to develop a new landmark,’’ he said.  
About seven kilometres from the Melbourne CBD, the site abutting the Chandler Highway is handy to schools, retail precincts, hospitals and parkland. It has a Yarra River frontage of about 280 metres.  
“The holding is of such a size that its availability is unprecedented and its ultimate capital value, when complete, will represent the largest inner urban mixed use/residential project in Melbourne in recent decades, other than the Docklands precinct,” Marasco said.  
Amcor in 2008 announced plans to close the plant within three years. It was put on the market in 2009 and also in 2011 for a reported $200 million and ceased operations in late 2012. The company has since moved its recycling operations to a $500 million plant in Sydney, Fairfax newspapers say.  
Yarra Council initially rejected Amcor’s request to change the planning controls due to concerns that this would diminish the community’s chance to have a say on future development at the site.  
However, the council and Amcor have since agreed on plans that would be consistent with community expectations, and secure greater protections around building heights, heritage and the Yarra River, as well as a requirement that 5% of housing is made "affordable".
Other large former industrial sites in Melbourne – such as Edgewater (the former ammunitions factory at Footscray), Waterford Green (the former ordnance factory at Maribyrnong), the Kodak site in Coburg, and the Kew Cottages site are reportedly also being redeveloped.
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Record $120 million residential land sale at former Amcor Alphington site 

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Whale sightings and rash holiday apartment investments remain seemingly popular activities in the NSW coastal town of Nelson Bay.
The tourist and holiday home destination has maintained its unwanted crown of most delinquent post code in Australia, a title it has held since Fitch Ratings began compiling its mortgage delinquency by post code list in 2007.
Nelson Bay (post code 2315), within the local government area of Port Stephens in the Hunter region, has maintained a delinquency rate of 6.6% as of March 31, unchanged from six months ago.
This translates into around one in 15 mortgage holders being more than a month behind on mortgage repayments.
Second on the list and unmoved from six months ago is Montrose, a northern suburb of Hobart, with one in twenty (5%) borrowers 30 days or more behind on their mortgage repayments.
Suggesting perhaps a tentative recovery in the apartment-laden Surfers Paradise market, where a number of high-rise developments fell into receivership, the marquee Gold Coast suburb’s 30 days plus arrears rate improved from 4% to 3.4% from September 2012 to March 2013.
As a consequence its ranking fell from fourth on the list of worst performing postcodes by value as of September 2012 to 10th as of March.
<img height="367" width="470" src="/images/stories/2013/larry_uploads/mortgage_delinquencies.jpg" alt="mortgage_delinquencies">
Nelson Bay has a population of around 5,400 people according to census 2011 with 44.9% of the nearly 3,900 dwellings unoccupied on census night, July 19, during the middle of winter.
A high proportion of these unoccupied dwellings would have been seaside holiday apartments.
<img height="334" width="470" src="/images/stories/2013/larry_uploads/mortgage_delinquencies2.jpg" alt="mortgage_delinquencies2">
Sales histories on realestate.com.au indicate that many of the properties sold as mortgagee in possession in Nelson Bay in recent years have been holiday apartments.
A recent mortgagee auction was a <a href="https://www.realestate.com.au/property-unit-nsw-nelson+bay-112326523">two-bedroom unit Mantra Aqua Resort</a>, which sold through Rebecca Dean of PRDnationwide – Port Stephens.
RP Data records indicate it sold for $215,000 having last sold for $380,000 in April 2010 a compound annual growth rate of – 28.9%.
Another apartment in the same resort is listed for July 27 auction.
“Stagnation in the local housing market has increased the time required for foreclosed properties to sell, leading to an accumulation of arrears in the 90+ days bucket (4.71% at end-March 2013 versus 5.78% at end-September 2012),” notes Fitch in its report.
“There has been an increase of 1% in new delinquent borrowers despite the recent improvement in 90+ days arrears.”
Fitch Ratings James Zanesi analyst says some properties are more than 300 days in arrears with lenders struggling to sell them. He says a number are in the same building.
When the Fitch Ratings figures came out in August last year, local estate agents and mortgage brokers highlighted that most of the delinquent properties related to holiday home purchase.
Local agent Daniel O'Meara of O'Meara Property said that while the rate was high there were few cases where residents are losing their homes.
“The vast majority of owners of these properties are not owner-occupiers and rarely live locally. As these are not the family home, the mortgage will often be let slip once money becomes tight.
Local broker Ben Eick of Hunter Home Loans Solutions in Nelson Bay told Australian Broker Online that it was his understanding that the properties are bought basically from people coming up here on holiday, liking the area, seeing an apartment or unit that looks fantastic.
Eick said holidaymakers bought a slew of properties in 2005 and 2006 gambling on prices going up, but a weaker rental market made it harder for investors to rent the property out for most of the year.
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Nelson Bay retains most delinquent postcode crown, but Surfers Paradise drops down list: Fitch

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The Fortune of War hotel – marketed as the oldest continuously licensed pub in Australia – has been sold after 26 years in the same hands.
Its reputed sale price is $4.3 million when bought by accountant Peter Walker. The Shout has reported that Walker was joined in the purchase by former C-Inc general manager Steven Speed.
<img width="400" src="/images/stories/fortuneofwar5.jpg">
The Fortune of War, which dates back to 1828, is part of a recently renovated hotel complex positioned opposite Circular Quay in Sydney. The actual George Street hotel is a three-storey facebrick building with stucco detailing built in 1922. The first recorded licensee of the public house was John Boreham who was the seller of wines, malt and liquor. In March 1976 Tooth &amp; Co relinquished its head lease to the Sydney Cove Redevelopment Authority, and the lease has been with publican Robert Keyes since 1987.
Given its location in Sydney’s Rocks district it has prided itself on the reputation of being the first and last port of call for generations of Australian and visiting soldiers.
<img src="/images/stories/fortuneofwar2.jpg">
“With over 100k per week in revenue, it will be hotly pursued,” Jolliffe advised Property Observer.
Of course the claim of Sydney's oldest pub is also claimed by the more upmarket Lord Nelson. Fairfax Media writer Mark Chipperfield wrote the nearby Lord Nelson has the words "Sydney's Oldest Hotel" painted on its exterior in bold letters. Chipperfield noted on face value, the Lord Nelson's claim on the title of oldest pub seems unassailable: built in 1836 using sandstone blocks quarried from Observatory Hill, the pub has held its liquor licence continuously since May 1841. But there are some flaws in the claim including the building being initially built as a private residence for William Wells, a local merchant and publican, and only transformed into a hotel in 1841.
<img width="470" src="/images/stories/fortuneofwar3.jpg">
The offering ames with The Fortune of War Hotel, The Russell Hotel (which offers accommodation, pictured below) and The Russell Wine Bar (pictured above) at the Rocks. It sold through Ray White Hotels agent Andrew Jolliffe inconjunction with Mike Wheatley of Knight Frank, according to The Australia Financial Review.
<img src="/images/stories/fortuneofwar4.jpg">
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Fortune of War hotel sells in the Rocks

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Despite a volatile political climate, softer economic conditions and concerns about our ability to fund our retirements, we are happier, according to the National Australia Bank’s latest Australian Consumer Anxiety Index.
The index rose from 6.2 in quarter 1 to 6.6 in the June quarter when all survey questions:  satisfied life, worthwhile life, happy yesterday and not anxious yesterday - rated higher.  
And, it appears, those happiest:  
<ul>
<li> Live in Western Australia  </li>
<li>Live in rural towns or the bush  </li>
<li>Earn over $100,000  </li>
<li>Are over 50  </li>
<li>Are married  </li>
<li>Have children  </li>
<li>Live in a household with two people  </li>
<li>Are well-educated  </li>
<li>Are retired  </li>
<li>Are in professional employment.  </li>
</ul>
The results show much lower anxiety in WA (partly offset by lower wellbeing in all other categories) and that rural areas have replaced capital cities for highest wellbeing.  
Wellbeing has declined in the $75,000-100,000 income group. There are much lower anxiety levels among women, and there is a general decline in wellbeing scores for widowed people.  
Wellbeing is now higher in households with kids compared to those without, and there’s been a big rise in wellbeing in single households but much lower overall wellbeing reported by labourers. 
A deeper look at the data also indicates a big fall in those expressing “very low” wellbeing, and an increase in those rating their wellbeing “high”. 
Sadly, over 26% of respondents identified themselves as being highly anxious, although this was down from more than 30% in the first quarter. 
The NAB’s Quarterly Consumer Anxiety Index found that consumer anxiety fell in June in line with moderating concerns about future spending/savings plans. 
The index measured 6.0 points in Q2, down from 6.3 points in Q1. There is still large variance in anxiety levels around the five survey questions underpinning the index: job security, health, ability to fund retirement, cost of living and government policy. 
But consumers still rate cost of living as their main cause of anxiety (ahead of government policy) but less so than in Q1. Job security is still of quite low concern despite softer forward labour market indicators. 
Anxiety was typically highest among consumers living in Queensland or Victoria, residing in rural towns or the bush, earning less than $35,000, are female, are aged 30-49, are divorced, have no children, live in a household of two people, are not employed or retired, and work as labourers. 
Since the March survey, the latest results show Victoria and WA are the only states reporting higher concerns over job security, regional areas are less anxious about living costs and retirement, anxiety has risen for those earning less than $35,000, women are less worried about job security and retirement, and more people aged 30-49 are worried about living costs and retirement.  
Overall, anxiety has risen for widowed people, those with kids are worrying less about living costs/retirement, health has become a bigger issue in three-plus person households, and retired people are the most anxious about government policy. ‘Other’ workers reported a big fall in their anxiety. 
Significantly, more than one-third still rate anxiety ‘high’ for government policy and cost of living. 
And, while almost one-quarter of consumers remain very worried about their ability to fund their retirement, concerns have eased.  
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Australians are happier despite softer economic climate

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Ahead of today's RBA meeting, economist Stephen Koukoulas <a target="_blank" href="https://twitter.com/TheKouk">@TheKouk</a> says it is "almost certain" that the RBA will leave the cash rate on hold today at 2.75%.
"The Kouk" has also tweeted that mortgage rates and inflation are much lower since John Howard left office in 2007:
<a href="https://twitter.com/TheKouk" target="_blank"><img alt="kouk_tweet" height="83" width="470" src="/images/stories/2013/larry_uploads/kouk_tweet.jpg"></a>
He says it a "reasonably straightforward" decision for the RBA due to an "uptick in the interest rate sensitive sectors of the economy, in particular housing and consumer spending".
"On the down side, there is no doubt that mining investment is in the early stages of decline and this will be a drag on economic growth over the medium term. It is likely to be a key point that will see the Reserve retain a bias to cut interest rates, 'if circumstances permit,'" he writes in Business Spectator.
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Interest rates and inflation much lower since John Howard left office: Stephen Koukoulas Tweet of the Day

<html><body>{module Will national house prices be higher at the end of the 2013-14 financial year?}</body></html>

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