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“Minister Chanthivong and his team have shown real leadership in replacing an outdated two-year bond with cover that matches the lifespan of the buildings people are buying into.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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Fund manager Moss Capital, run by former Macquarie Bank director Bill Moss, has acquired the Manning Mall in Taree from Mirvac for $32.6 million.
The sub-regional shopping centre (pictured below) in the Mid North Coast NSW town has 11,300 square metres of retail space and is anchored by Target and Coles.
<img alt="mosscapitaljune17one" height="294" width="470" src="/images/stories/2013/06/mosscapitaljune17one.jpg">
The funds management business plans to spend a further $150 million in retail assets, The Australian reported.
Mirvac acquired the Manning Mall for $32.5 million in November 2006 and spent a reported $15 million refurbishing it in 2009.
It was valued at $33 million as of June 2012 with turnover of $48 million per annum.
It is Moss Capital’s second regional NSW retail acquisition after it acquired the Griffin Plaza at 2 Yambil Street for $14.75 million in November last year.
The 7,225 square metre neighbourhood shopping centre was purchased from Millennium Asset Management on a yield of around 10.5%.
Bill Moss managed Macquarie Group’s global banking and real estate businesses as part of a 23 year career at the investment bank.
He founded, grew and led Macquarie real estate group to where it managed over $23 billion worth of investments around the world.
Commenting on the latest acquisition, Moss Capital’s head of real estate, Michael Baliva, said Manning Mall fitted its investment criteria "given its non-discretionary focus, robust cash flow, attractive acquisition yield of 10.4% and its strong growth in centre sales following the closure of a competing Coles supermarket in the immediate area".  
“The centre will deliver our investors high risk-adjusted returns with forecast income distributions in excess of 10 per cent per annum; significantly more attractive than from A-REITs investing in similar assets.”

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lschlesinger-FZcF9M3vE6

Moss Capital plans more shopping centre acquisitions after $32.6m Manning Mall, Taree purchase

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The NSW Treasurer Mike Baird has announced the $15,000 grant for new homes buyers will be extended until January 2016 in the upcoming state budget.
The first home owner grant was due to be reduced to $10,000 in six months time on 1 January, 2014. It now has another two years at $15,000 during which developers and home builders will pursue the recently hesitant first home buyer constituency.
"We're saying to every first home owner across the state, if you are thinking of buying - think new," Mr Baird said.
Mr Baird claim the incentive announced in last year's budget to take effect in October was "already seeing signs of life in the critical housing sector."
Critics have suggested the grant's new home limitation has meant there has been a luke warm take-up by first time buyers who have traditionally sought established homes. NSW office of state revenue data show Westmead headed the list of recipients in the year to April with 406. Parramatta had 205 and Liverpool 333 grant recipients.
The <a href="https://www.propertyobserver.com.au/tax/nsw-doubles-its-first-home-grant-for-new-homes/2012061255075" target="_blank">FHOG </a>was doubled in the expressed hope of "kick-starting" the state’s lacklustre home building industry, but first home buyer finance levels have remained low, according to the latest ABS data.
In original terms, the number of first home buyer commitments as a percentage of total owner occupied housing finance commitments rose slightly to 14.3% in April 2013 from 14.2% in March 2013.
But Westpac noted that first-home buyers remained the stand out weakspot in the approvals data.
"We estimate loans to this segment were up 0.7% (seasonally adjusted) in April but are still down 10.8% annually and at very low levels by historical standards, particularly in NSW and Queensland," says Westpac.
The number of home loans to NSW first-home buyer in the March quarter totalled 2,647 -<a href="/news"> 57% lower than a year ago </a>and a 40.6% fall in the March quarter alone, the latest Real Estate Institute of Australia (REIA) figures revealed.
The NSW stamp duty concessions for first homebuyers of new homes will remain, Mike Baird advised in the lead up to the 2013 State Budget.
<a href="https://www.osr.nsw.gov.au/benefits/first_home/general/fhogs/" target="_blank">The NSW $15,000 grant is for new houses and units costing up to $650,000</a>.
The NSW budget will be delivered on Tuesday.
Since last year's budget decision to cease the NSW $7,000 First Home Owner Grant most other states and territory's have implemented similiar limitations on the grant.
Property Observer's most recent update on the <a href="/news">state by state guide </a>was published after the decision by the ACT government to withdraw the $7,000 first-home owner grant as at August 31 and replace it with a $12,500 grant for new homes only from September 1.
It meant six states and territories have shifted their incentives in favour of what Ray White boss Brian White says is effectively a “builders’ grant”.
NSW, Victoria, Queensland, South Australia. Tasmania and the ACT have all withdrawn (or will withdraw in the coming months) their handouts for first-home buyers who buy an established home.
 
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jchancellor-FAypfDUnLy

NSW first home buyer grant to stay at $15,000 until 2016: NSW State Budget

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Wests Tigers champion Braith Anasta and his actor wife Jodi Gordon have officially lowered their price guidance on their recently listed four-bedroom, two-bathroom Clovelly home.
Initially <a href="https://www.propertyobserver.com.au/news/braith-anasta-and-jodi-gordon-list-clovelly-home-weststigers/2013060261856" target="_blank">more than $1.8 million </a>was being suggested for the two-storey semi, but now the agents are quoting $1.7 million plus.
Agents hope the lowering of the price guide might introduce stronger competition in the lead-up to next weekend's auction.
It was bought for $1,805,000 in 2011 by Anasta. It had sold previously at $1.76 million in 2009.
Its purchase by Anaasta was funded when the then Sydney Roosters captain sold a Malabar investment property for $1.32 million in early 2011.
It has been scheduled for June 25 auction through his estate agent brother Damon Anasta at McGrath Coogee inconjunction with his colleague, Mark McPherson.
Its initial price hopes were based on a Winchester Road semi that sold recently at $1.85 million.
RP Data gives Clovelly's median house price as $1.365 million, down 9.8% over the past year.
Its down 3.8% over the past five years, according to RP Data.
<a href="/news">The average discounting required of vendors is typically around 10% to secure a sale</a>. 
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Braith Anasta and Jodi Gordon lower their Clovelly auction price guidance

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Bank of New Zealand chief economist Tony Alexander has proposed eight ways the NZ government could act to cool down the overheating property market, though he expects there is little chance they will be implemented.
They include outlawing of sales of New Zealand residential property to offshore buyers and implementing a tax on New Zealanders who own property overseas.
In his latest weekly newsletter, Alexander warns of four housing problems facing New Zealand being: “affordability, bank exposures should prices fall, the New Zealand dollar’s surge as monetary policy fights housing sector inflation and physical accommodation availability”.
The latest data confirms that house prices have been rising strongly, most notably in Auckland, New Zealand's biggest property market.
In May Real Estate Institute of New Zealand (REINZ) figures showed the Auckland median house price increased to a new record high median price of NZ$565,000 (A$475,000) with median prices up 14.8% over the past 12 months.
But price rises have not been restricted to Auckland.
The National, Auckland, Christchurch and Other South Island Stratified Housing Price Indices all hit new record highs in May.
The Christchurch Index is up 13.1% and the Other South Island Index up 5.4%.
Alexander says the optimal solution to cool the market is a “quick jump in house supply combined with reductions in building materials costs”.
He proposes eight ways to achieve this:
<ul>
<li>First initiate a large builder training programme targeting not just youth but low skilled migrants. Yes, the  migrant gates would need to be opened. Just the signalling of strong intention to boost builder numbers  would make investors think twice about their capital gain assumptions.</li>
<li>Second, ban councils from imposing any development fees and allow developers to install their own infrastructure.</li>
<li>Third, create an SOE whose sole purpose is to undercut existing building materials suppliers through bulk purchases from offshore, nodal warehousing and distribution from just three or four locations in the country, with a separate agency responsible for monitoring the quality of materials sourced.</li>
<li>Fourth, initiate a new large state house building programme relying largely on the to be created new carpenters etc. Constrain new state houses to more efficient building systems including containerised modular housing (this doesn’t involve shipping containers), central and screwed in foundations, etc.</li>
<li>Fifth, ban house sales to non-residents (even new houses given the ease with which special developments could arise targeting solely folk offshore and soaking up construction sector resources).</li>
<li>Sixth, impose a tax on all houses owned by Kiwis offshore with the aim of encouraging them to sell them.</li>
<li>Seventh, put in place a capital gains tax on second properties and farmland and immediately payable stamp duty for all second house purchases.</li>
<li>Eighth, rezone all land within 10-20 kilometres of existing city boundaries as residential.
</li>
</ul>
However, Alexander says the chances of such radical policies (plus others) being imposed are “low, zero, zero, mild, mild, zero, low, zero".
Instead what he says will happen is that “some land will be freed up but it will little affect section prices, construction will soar and rising costs will force higher interest rates and a higher NZ dollar.
“The Reserve Bank will tighten high loan to value lending but the impact will be minimal and mainly encourage young buyers to raise more expensive  finance elsewhere (a big business opportunity looms there) or to leave the country to make a purchase overseas,” he says.
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Ban house sales to Aussies among BNZ economist Tony Alexander’s eight radical ways to cool down overheating New Zealand housing market

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Melanie Greensmith who runs the clothing label, Wheels and Dollbaby, with her partner Mark McEntee  have spent about $4.25 million on an apartment in the Spanish Mission style Del Rio apartment block in Elizabeth Bay.
Located on the Billyard Avenue dress circle harbourfront, it was the first time the home had been offered in 12 years.
Real estate agent Jaime Upton of Ballard Property Group says the ground floor apartment feels like a house due to its accessibility to the garden for the couple's dogs.
Its an apartment block often featured in prize <a target="_blank" href="https://www.artgallery.nsw.gov.au/collection/works/287.1984/">paintings</a> given its lovely setting between the iconic Elizabeth Bay House and the harbour.
Del Rio was designed by John Spencer-Stransfield in 1928, who is more famously known for designing the <a target="_blank" href="https://www.propertyobserver.com.au/new-south-wales/1917-gilgunyah-bungalow-in-haberfield-secures-%2422-million-plus/2013051661190">federation suburb Haberfield</a>.
The 2009 Belle-featured apartment was purchased in October 2001 for $1.96 million and has undergone $1.5 million worth of improvements by designer Garth Barnett.
The property originally had a three-bedroom layout - with the third bedroom used as the maid’s quarter - however its been transformed into two large comfortable bedrooms.
The property features soaring ceilings, French parquetry and travertine floors and two marble-finished bathrooms.
Its vendor was Charles Wilkins, a leading Sydney caterer who bought it in 2001 from Stuart and Kerry Lodge through estate agent Shannan Whitney for $1.96 million.
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Divine Del Rio, Elizabeth Bay trophy garden apartment sells to fashionista Melanie Greensmith

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The spun-off Woolworths shopping centre portfolio, Shopping Centres Australasia (SCA Property Group) has acquired a portfolio of seven neighbourhood shopping centres in Victoria and Queensland from a  private investor, for $135.8 million.
The portfolio of seven neighbourhood shopping centres acquired comprises:
<ul>
<li>Alfred Square, VIC ($20 million on a 7.5% cap rate; 100% occupied; 8,964sqm GLA; 11.6 yr average age; anchor tenant 89% of gross income)</li>
<li>Burdekin Plaza, QLD ($18.7mn on a 8.0% cap rate; 96% occupied; 5,513sqm GLA; 26.6 yr average age; anchor tenant 84% of gross income)</li>
<li>Drouin Central, VIC ($12.3mn on a 8.0% cap rate; 99% occupied; 3,798sqm GLA; 4.6 yr average age; anchor tenant 79% of gross income)</li>
<li>Langwarrin Plaza, VIC ($17.2mn on a 7.8% cap rate; 98% occupied; 5,087sqm GLA; 8.5 yr average age;anchor tenant 54% of gross income)</li>
<li>Ocean Grove Marketplace, VIC ($29.9mn (incl. A$0.5mn of surplus land) on a 7.5% cap rate; 96% occupied; 6,910sqm GLA; 8.5 yr average age; anchor tenant 50% of gross income</li>
</ul>
The acquisition will be funded via a $90 million institutional placement and subsequent unit purchase plan (UPP), at $1.58 per share.
The A-REIT  was placed in a trading halt yesterday pending the announcement.
Goldman Sachs A-REIT analyst Andrew Macfarlane says the investment will increase Shopping Centres Australasia’s gearing 34.3% to 35.0% at the top end of management’s target range while net tangible assets will decrease from $1.58 to $1.56.
“While muted rent growth and the roll-off of Shopping Centres Australasia’s two-year rental guarantee provided by Woolworths arguably remain key issues for Shopping Centres Australasia, today’s acquisition goes a small way to diluting the potential shortfall in the 2014 financial year, Macfarlane says.
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Shopping Centres Australasia buys seven shopping centres for for $135.8 million

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Non-bank lender Liberty Financial has cut interest rates on its commercial lending products by up to 100 basis points.

The Melbourne-based lender is offering the lower rates for new customers with its flagship Enterprise full-doc commercial mortgage product starting at 6.8%, reports Australian Broker online.

The product is available for loan amounts from $150,000 to $10 million and aimed at owner-occupiers, small businesses or investors seeking to finance commercial property purchases.

It required a minimum 20% deposit with a 30 year loan term for owner-occupiers and 15 year loan term for investors.

A 6.8% starting rate also applies to its LeaseStream loan for commercial property investors also covering loans from $150,000 to $10 million with a maximum 15 year loan term.
GM of commercial finance, Suresh Pillai, said reductions of 100 basis points had also been made on its low-doc rates now start from 7.40% per annum.


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Liberty Financial cuts commercial loan rates by 100 basis points

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If you’ve been reading my property investment blogs, you’ll know that I feel confident in the long-term prospects of our property markets, which will be underpinned by the dual prongs of a growing population (which will require housing) and the fact that we are a wealthy nation (we can afford to pay for housing).
I know some commentators are concerned that our economy will slump as the resources boom slows down and some doomsayers are gloating that the property market has fallen for two consecutive months.
But I see it differently.
We are entering a new economic stage; a period of continued prosperity, albeit at a slower pace. This stage will be underpinned by a generally buoyant economy.
It’s much more than just resources
Sure, the construction phase of the resources boom is coming to an end and other sectors of the economy will have to step up.
And yes, our economic growth will slow down a little over the next few years, which will keep interest rates and inflation low.
But it’s not all doom and gloom.
Government analysis last year suggested that over the next five years we’ll need an extra 800,000 workers to ensure our continued economic growth as a surge in service industries eclipses the resources boom.
This means there is a looming structural shift in the jobs market as demand grows for professional skills, offsetting the expected loss in the manufacturing sector.
A regional shift is forecast as Queensland outstrips other parts of the country in job creation, adding 220,000 positions compared with about 190,000 in NSW, 180,000 in Victoria, 150,000 in Western Australia and 50,000 in South Australia.
Countering assumptions about our economy slumping as the resources boom slows down, the findings of the report show the service industries will need more workers than any other part of the economy.
While mine companies will need about 100,000 new workers over the next five years, healthcare and social assistance employers will need 240,000 staff and professional services companies will require 110,000.
Education, tourism, retail and financial services will also create new jobs as the manufacturing sector shrinks.
The forecasts come with danger signs, as 19 of the 20 strongest job categories require qualifications higher than secondary school.
"The structural change in the Australian labour market and the significant shift towards higher skills occupations will limit the opportunities available to job-seekers without appropriate levels of qualification, work experience and employability skills," the analysis says.
 
<hr class="system-pagebreak">
What about our ageing population?
At the same time that we need more workers, our population is ageing, and in many ways this could provide a greater challenge for us than population growth.  
Demographer Harry Dent caused a stir when he suggested that our ageing population and its lack of spending is going to cause the next depression. The fallout of a baby boom gone wrong has been witnessed in Japan, where the number of retirees escalated beyond the number of working age citizens and had a notable impact on their local economy.  
Dent suggested that Australia is facing its own demographic tsunami as more of our Baby Boomers hit retirement age.  
Again, I see it differently: we are going to have to populate or perish.  
Look at the facts. Today, 43% of our workforce is made up of Baby Boomers (people born between 1945 and 1964).  
The Baby Boomer crisis 
Think about it. Australia is on the crest of a demographic tsunami as Australia’s 5.3 million Boomers are going to reach retirement age over the next 15 years.
The country's money box faces a double whammy as these Baby Boomers leave the workforce and stop paying tax, yet at the same time many will go on the pension and use our public health care system.
The problem is that most Baby Boomers don’t have enough savings or superannuation to see them through retirement.  This means many will have to keep working longer than they had anticipated but eventually, when they do retire, they will place a massive burden on our financial system.
The government will have to find money for their pensions and health costs while at the same time making up for their lost taxation revenue by either:
<ul>
<li>
Increasing taxes on those in the workforce, which would be political suicide, or;
</li>
<li>
Increasing the size of the tax-paying workforce by importing younger workers. These young skilled adults that will migrate to Australia to fill our increasingly wide gap in skilled labour will be gainfully employed and, given their skills, will earn high incomes and pay their share of tax.
</li>
</ul>
Fact is Australia's population will keep getting bigger under every realistic scenario and no matter what politicians do, population growth is going to happen. This is a certainty.
What does this mean for Australia?
There is no doubt that our population growth will bring with it significant social, infrastructure and environmental impacts.
In Australia at present, 87% of us live in urban areas. There is an obvious emerging trend toward smaller dwellings and inner-city lifestyles, which means more of us are going to be concentrated around our major capital cities.
With more and more of us wanting to live in the same four big capital cities, and in fact in the same suburbs of those capital cities, our old friend the supply and demand ratio will keep pushing up the value of well located inner suburban properties.
Sure, these properties will be unaffordable for some of us who’ll remain tenants. But others will be able to afford these higher priced properties, as I don’t think that anyone would argue that as a nation Australia will become wealthier over the next few decades.
The good news is that by many accounts Australians are already the wealthiest nation in the world and if we play our cards right, this is likely to continue as Australia is well positioned to benefit from the growth of Asia, which represents 50% of the world’s population.
Yes, our economy is slowing down, and of course there will be speed bumps along the way, but our economy is still the envy of most developed nations.
It’s most likely we’ll have a change of government later this year but the new government will inherit a particularly good set of economic fundamentals. This means Joe Hockey will likely be able to deliver much the same in his first term in government.
If he can keep GDP growth near 3%, underlying inflation around 2.25% and the unemployment rate around 5.5% then we’re likely to remain in a low interest rate environment.
The bottom line is that our economy is going to soldier on, as are our property markets. I can’t see a bust ahead for either!
Michael Yardney is a director of <a rel="nofollow" href="https://www.metropole.com.au/">Metropole Property Strategists</a>, who create wealth for their clients through independent, unbiased property advice and advocacy. Subscribe to his <a rel="nofollow" href="https://propertyupdate.com.au/category/property-investment/">Property Update</a> blog.
 
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Despite gloom our economy and property markets will soldier on: Michael Yardney

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Here are three of the most common questions I get asked:  
<ol>
<li>
“When will the market recover and how can you tell?”
</li>
<li>
“What’s hot?” Which really translates to “What should I buy?”
</li>
<li>
“What makes a good investment?”
</li>
</ol>
The first two questions were answered <a href="https://matusikmissive.com.au/2013/03/19/why-does-property-cycle/" target="_blank">here</a> and <a href="https://matusikmissive.com.au/2013/05/14/what-should-i-buy/" target="_blank">here</a>.  Today we cover the third one - what makes a good investment?  
As many of you know, it is my opinion that property investors spend far too much time on ‘where’ they should buy and not enough on ‘what’ they should be buying.  And while part of my reply as to what makes a good investment has to do with ‘place’, most of it relates to the actual ‘product’.
When I cover this question in our “Market Outlook and What To Buy” <a href="https://matusik.com.au/projects/book-matusik-today/" target="_blank">presentations</a>,I usually raise my hand and say, “If the property passes my five finger test then, for mine, it is has a great chance to be good investment.”
My five finger test  
Market Depth. How deep is the market you are buying into?  In other words, how many sales take place in the area each year and in particular, how many sell within the price band in which you will be reselling your property?  Median prices provide little guidance to you here.  You need to know the actual sales volumes by price group.   
 
A short cut here is to buy in areas with economic diversity.  One or two horse towns are out – I don’t care how great the yields may be – unless there are many irons in a location’s fire, they usually aren’t good places in which to buy investment property.  Stick to the capitals and major centres.  Why?  Because there will be enough market in the future for you to actually sell to.  Rule 1 is market depth.  
Owner-resident resale appeal. Does what you are buying have owner-resident resale appeal?  Is the general area attracting more owner-residents over time?  Why this is important is that it doubles your resale audience, as there are twice as many owner-resident buyers across Australia than investors.  You should always buy a product that has the potential to resell to an owner-resident.  Small projects; well-sized and well-designed; good aspect; view if possible; and local gentrification are just some of the things to look out for.  
Potential upside. What is the location really like?  It needs to have high amenity – this helps with regard to owner-resident resale appeal plus better tenants – and use <a href="https://www.walkscore.com/" target="_blank">walk score</a> to make initial judgements about a location.  
Also, there must be employment generators in the area and employment numbers need to be growing.  Don’t worry too much about local unemployment; it the number of actual local workers that mean the most to you as an investor.   The ABS Census can help <a href="https://www.censusdata.abs.gov.au/census_services/getproduct/census/2011/communityprofile/3GBRI?opendocument&amp;navpos=230" target="_blank">here</a> and use the working community profiles.  
And thirdly, is there any new infrastructure proposed in the area?  Most councils have such information on their websites.  Pollies love to cut ribbons and open things, so government departments document such things in advance.  The best things that help drive up value include transport initiatives, especially public modes such as railway stations; new offices or retail expansion and major new developments like hospitals, schools and to some degree industrial estates.  
Rental appeal. I used to think this part was bloody obvious; and I am always amazed when I ask an investor (or developer for that matter) to describe who is actually going to rent the property, and all I get is a blank stare.  Sometimes they reply by saying, ‘renters’.  I kid you not.  
You need to understand who and why a certain type of rental demographic will rent your property.  You need to know how many of that rental demographic subset lives in the area.  Your property should appeal to two out of three of the largest rental demographic segments in the local area.  Again the <a href="https://www.censusdata.abs.gov.au/census_services/getproduct/census/2011/communityprofile/3GBRI?opendocument&amp;navpos=230" target="_blank">ABS Census</a> can help; this time look at the community profiles and you will have do to some basic maths.  
For example, does your one-bedroom apartment in New Farm appeal to a single female renter?  Does it also appeal to a young couple in their mid-20s to early 30s?  Does it also appeal to older single males?  Well, if single females rent in the same building then one could say yes…but you get my drift.  
Who will rent your property and why?  And does that rental market segment exist in the area?  These are three important questions.  Getting ticks in the right boxes here means a better investment.  
Finally, could you live in it?  If things went cactus, could you live in this property for a period of time?  This isn’t really a financial safety net; but it usually means that the property has ‘good bones’ and a half decent standard of finish.  This translates, in turn, to better tenants who stay longer.  
A good residential investment needs to pass a simple test.  When I work on a new residential project which is looking for Matusik endorsement, it must pass nine detailed <a href="https://matusik.com.au/projects/what-is-property-picks/" target="_blank">variables</a>.  My five finger investment test is an abridged version of Matusik Property Picks.  It covers all the bases.   
Readers should seek their own professional advice on the subject being discussed.
Michael Matusik is the founder of <a href="https://www.matusik.com.au/" target="_blank">Matusik Property Insights</a>, which has helped over 550 new residential projects come to fruition.  Read <a href="https://www.matusikmissive.com.au/" target="_blank">Michael’s Blog</a> or follow him on <a href="https://www.facebook.com/ThinkMatusik?fref=ts" target="_blank">Facebook</a> and <a href="https://www.twitter.com/michaelmatusik" target="_blank">Twitter</a> or connect via <a href="https://www.linkedin.com/in/michaelmatusik">LinkedIn</a>.
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Five tips for making a good property investment: Michael Matusik

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At $612,500, Darwin again trumped Sydney for the dearest weekly median house price, based on RP Data analysis in the week ending June 9.
Sydney's $510,000 unit median was the week's dearest capital for unit sales.
<img alt="rpdatacapitalcitymediansjune12one" src="/images/stories/2013/06/rpdatacapitalcitymediansjune12one.jpg" width="470" height="279">
<img alt="rpdatacapitalcitymediansjune12two" src="/images/stories/2013/06/rpdatacapitalcitymediansjune12two.jpg" width="470" height="206">
Private treaty sales represent around 85% of all dwelling sales across the country.
The statistics are calculated across houses and units sold over themost recent four week period.
Records without a valid sale price have been excluded from the analysis and median prices are withheld for cities wherefewer than ten sales have been recorded.
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