Apartment buyers in New South Wales are set to gain a decade of insurance-backed protection against major building defects, after the NSW Parliament passed the Fair Trading and Building Legislation Amendment Bill 2026.&nbsp;

The Bill establishes decennial defect insurance, known in the market as Latent Defects Insurance (LDI), as an alternative to the existing two-year strata building bond. It cleared the Legislative Council with amendments on Tuesday evening (August 4, 2026), with the Legislative Assembly agreeing to those amendments shortly after.

Under the reform, eligible developers can satisfy their statutory bond obligation by taking out an approved decennial-style policy that gives owners 10 years of cover for major structural defects from completion, claimable directly, without first having to pursue developers or builders through costly legal action.&nbsp;

The change forms the final tranche of amendments arising from the 2021 statutory review of the Strata Schemes Management Act 2015 and related legislation.

Resilience Insurance, which originated the cover in Australia and has delivered it in NSW since 2022, welcomed the passage and credited the NSW Government for delivering it.

“This is protection apartment buyers have needed for a long time, and the credit for delivering it belongs to the NSW Government,”&nbsp;said Corey Nugent, CEO of Resilience Insurance.

“Minister Chanthivong and his team have shown real leadership in replacing an outdated two-year bond with cover that matches the lifespan of the buildings people are buying into. Reform like this is what good, evidence-based regulation looks like.”

Resilience has delivered LDI in NSW since 2022, protecting thousands of apartments, giving the State, and now the country, real-world evidence of how decade-long, no-fault protection works in practice.

The reform also places NSW within a wider national shift.

NSW is the third jurisdiction to put decennial cover into law. The ACT legislated for it in 2024, with the scheme taking effect in late 2025, and Victoria passed its own framework on 17 June. Between them, the three cover the majority of Australia's apartment market.

The reform commences once the legislation is proclaimed, which is expected in the coming weeks. From that point, developers of Class 2 residential apartment buildings can meet their statutory obligation with an approved decennial policy in place of the bond.

Buyers who purchased into projects that took out the cover early are among the first in the country to take keys to apartments carrying decade-long structural protection.

“With the legislation passed, the focus now turns to making it work for buyers,”&nbsp;Nugent said.

“There are already thousands of apartments in NSW covered by this insurance, bought by developers who moved early. The question every buyer should be asking in a display suite is a simple one: does this building come with 10-year defect cover, and who stands behind it?&nbsp;

“We look forward to working with the Government and the Building Commission in coming weeks as the framework moves to implementation, and to sharing what we have learned over the past four years so the protection reaches owners as smoothly and quickly as possible.”

Other states are working through their own reform programs. Western Australia has indicated that decennial cover is within consideration a later stage of its reform sequence, and Queensland has been examining the settings as it looks at the development pipeline ahead of the 2032 Olympics.

Resilience Insurance acknowledges the NSW Government’s continued focus on strengthening consumer protection while supporting housing delivery across the State.

Fast Facts: What the reform means

<ul style="color:#222222; font-family:Arial, Helvetica, sans-serif; font-size:small; font-style:normal; font-variant-ligatures:normal; font-weight:400; text-align:start; white-space:normal; background-color:#ffffff; text-decoration-thickness:initial; text-decoration-style:initial; text-decoration-color:initial">
	<li style="margin-left:15px; font-family:Aptos, Arial, Helvetica, sans-serif; font-size:12pt; color:#000000">Proven at scale:&nbsp;Decennial cover has operated in NSW since 2022, protecting thousand of apartments.</li>
	<li style="margin-left:15px; font-family:Aptos, Arial, Helvetica, sans-serif; font-size:12pt; color:#000000">10 years of cover:&nbsp;Protection for major structural defects runs for a decade from completion, claimable directly and with no legal action required.</li>
	<li style="margin-left:15px; font-family:Aptos, Arial, Helvetica, sans-serif; font-size:12pt; color:#000000">An alternative to the bond:&nbsp;Eligible developers can meet their statutory obligation with an approved decennial-style policy in place of the 2% strata building bond.</li>
	<li style="margin-left:15px; font-family:Aptos, Arial, Helvetica, sans-serif; font-size:12pt; color:#000000">Part of a national shift:&nbsp;The ACT has had decennial provisions in force since 2025 and Victoria passed its framework in June. NSW now joins them.</li>
	<li style="margin-left:15px; font-family:Aptos, Arial, Helvetica, sans-serif; font-size:12pt; color:#000000">No-fault, first resort:&nbsp;Owners corporations claim directly from the insurer without first having to establish who is liable for the defect.</li>
	<li style="margin-left:15px; font-family:Aptos, Arial, Helvetica, sans-serif; font-size:12pt; color:#000000">Cost-competitive:&nbsp;At approximately 1.8% of build cost, LDI is typically priced below the 2% bond while offering broader, longer protection.</li>
	<li style="margin-left:15px; font-family:Aptos, Arial, Helvetica, sans-serif; font-size:12pt; color:#000000">Market position:&nbsp;Resilience originated LDI in Australia and has delivered it in NSW since 2022.</li>
</ul>

Fast Facts: What is Resilience LDI?

<ul style="color:#222222; font-family:Arial, Helvetica, sans-serif; font-size:small; font-style:normal; font-variant-ligatures:normal; font-weight:400; text-align:start; white-space:normal; background-color:#ffffff; text-decoration-thickness:initial; text-decoration-style:initial; text-decoration-color:initial">
	<li style="margin-left:15px; font-family:Aptos, Arial, Helvetica, sans-serif; font-size:12pt; color:#000000">Resilience Latent Defects Insurance (LDI):&nbsp;Covers major structural defects for 10 years from completion.</li>
	<li style="margin-left:15px; font-family:Aptos, Arial, Helvetica, sans-serif; font-size:12pt; color:#000000">Consumer-first:&nbsp;Direct claim access, no need for lengthy legal action.</li>
	<li style="margin-left:15px; font-family:Aptos, Arial, Helvetica, sans-serif; font-size:12pt; color:#000000">Cost advantage:&nbsp;At approximately 1.8% of build cost, LDI is typically priced below the traditional 2% Strata Bond while offering broader protection.</li>
	<li style="margin-left:15px; font-family:Aptos, Arial, Helvetica, sans-serif; font-size:12pt; color:#000000">Market leader:&nbsp;&nbsp;Resilience Insurance originated LDI in Australia and is the national market leader.</li>
</ul>

Joel Robinson

NSW parliament passes 10-year defect insurance laws for new apartment buyers

Builder-developer <a href="https://www.apartments.com.au/developers/mcnab-developments">McNab</a> has wasted little time reshaping one of South Brisbane's most significant undeveloped apartment sites after acquiring the property earlier this year.&nbsp;

McNab has lodged plans to scrap an existing approval for two 30-storey towers and instead deliver a single 28-storey residential building, preserving part of the site for a future development opportunity.

The proposal, lodged over <a href="https://www.apartments.com.au/new-apartments/64-peel-street-south-brisbane-qld-4101">64 Peel Street and 9 Cordelia Street</a>, is for a residential-led mixed-use development comprising 124 apartments above a landscaped podium, alongside a boundary realignment that preserves part of the land for a future residential project.

<img alt="First look: McNab resets decade-old South Brisbane approval with 124-apartment tower" data-entity-type="file" data-entity-uuid="743bf564-3f8f-45fc-b8d3-bbf18f5b628f" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/mcnab%20Peel%20st%20podium.png?VersionId=EhCxGrVn_VFH3qTbKnI4WppGwaMnOn0t" />

Designed by <a href="https://www.apartments.com.au/architects/hayball">Hayball</a>, the development will deliver 119 two-bedroom and five three-bedroom apartments across 23 residential levels. A five-level podium will accommodate 135 car spaces, while the ground floor will include a 66 sqm commercial tenancy, an activated residential lobby with work-from-home spaces, and a publicly accessible landscaped plaza linking Cordelia and Peel streets.&nbsp;

Communal amenities will span Level 6 and the rooftop, including indoor and outdoor recreation spaces, a swimming pool, barbecue facilities, kitchen and dining areas, lawn space, sauna, steam room and yoga facilities.

The application also proposes a boundary realignment to create a standalone 1,290 sqm development lot while retaining an adjacent parcel for future redevelopment, allowing the balance of the site to contribute additional housing over time.

Hayball said the architecture has been shaped by the site's elevated corner position at the intersection of Peel and Cordelia streets and Brisbane's subtropical climate.

The design incorporates generous landscaped setbacks, a masonry podium wrapped with planting, large north-facing balconies, and a slender tower profile intended to maximise natural light, cross ventilation and long-range views. The rooftop has been conceived as a wellness-focused retreat overlooking Brisbane, with amenities positioned to capture views towards Mount Coot-tha and the CBD.

<img alt="First look: McNab resets decade-old South Brisbane approval with 124-apartment tower" data-entity-type="file" data-entity-uuid="c5f99e84-6ad8-4a87-82d1-869685b754d2" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/mcnab%20tower%20perspective.png?VersionId=Gw0IuJaSAlk.tvGBxInhZOcQAdIB..2b" />

The planning submission positions the proposal as a response to both changing market conditions and Brisbane's Kurilpa Sustainable Growth Precinct planning reforms.

McNab acquired the site after the previous approval was granted, with the existing scheme no longer reflecting current residential market demands, economic conditions, construction challenges, construction efficiencies or the quality of development outcome now being pursued, the planning report noted.

McNab continues to expand its residential development pipeline across Brisbane and the Gold Coast. The developer recently launched The Tannery in West End, securing more than 60 per cent of apartments before the project's public release. It is also delivering Elements Budds Beach in Surfers Paradise and Lucia Highgate Hill, an eight-apartment boutique development overlooking the Brisbane River.

McNab resets decade-old South Brisbane approval with 124-apartment tower

A steeply sloping Bellevue Hill site is set to accommodate a new mid-rise apartment development, with plans lodged for 20 homes that respond to the site's dramatic topography.

The proposal for the consolidated land at <a href="https://www.apartments.com.au/new-apartments/138a-140-bellevue-road-bellevue-hill-nsw-2023">138A-140 Bellevue Road</a> has been designed by Sydney architecture practice Common Office, which has used the site’s substantial fall to distribute the building’s scale and unlock 20 apartments without presenting the full height to the street.&nbsp;

“The unique design strategy leverages the site’s substantial topographical fall to facilitate increased density, presenting a seven-storey profile to Bellevue Road while rising to 10 storeys at the rear,” Common Office said in its architectural design report.

The apartment mix spans one, two, three- and four-bedroom residences. Four two-bedroom apartments are designated as affordable housing, while the plans also include two adaptable dwellings. The mix is majority three-beds, with the typical three-bed apartment offering around 144 sqm internally, with balconies of around 15 sqm.

The affordable housing component represents 15 per cent of the residential floor area and allows the project to access additional height and floor space under the NSW Government’s in-fill affordable housing provisions. The site also falls within the inner area of the Low and Mid-Rise Housing Policy because it is within 400 metres walking distance of Double Bay Town Centre.

<img alt="First Look: Plans lodged for topography-led affordable housing project in Bellevue Hill" data-entity-type="file" data-entity-uuid="b1230d0f-3bfa-4a11-abaf-0928c66ef345" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Bellevue%20da.png?VersionId=dZeMK3P.OutGjN8ycjsxm8uNsj_QFWQv" />

Common Office has arranged the building around a masonry podium and a lighter upper volume, drawing on two recurring elements of Bellevue Hill’s established architecture: sandstone bases and the vertical proportions of local Inter-war Art Deco apartment buildings.

“The proposal is governed by a holistic design language that reconciles the solid horizontal masonry of the neighbourhood’s podiums with the elegant verticality of its Art Deco heritage,” the architect said.

“The building maintains a consistent rhythmic logic utilising deep recesses and a sophisticated material transition to break down the 10-storey scale into a series of articulated, human-scale volumes.”

<img alt="First Look: Plans lodged for topography-led affordable housing project in Bellevue Hill" data-entity-type="file" data-entity-uuid="0147f503-1af1-4d51-97fb-c2f1cba63a9d" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Bellevue%20bldg.png?VersionId=GoW7q3NlK67OpnePXhk7zvklrlKb72Qc" />

Large-format sandstone tiles will define the lower levels, establishing a robust base that negotiates the change in elevation from Bellevue Road. Above, red-tinted precast concrete frames, recessed balconies, anodised aluminium screens and expanded metal details will create a more vertically expressed façade. Integrated planter beds will introduce greenery across balcony edges and recessed sections of the building.

The elongated northern façade has been divided into three recessed vertical masses to reduce its perceived length. Triangular window elements and metal privacy screens reference the geometry of nearby Art Deco buildings while controlling overlooking toward surrounding homes. The southern elevation will incorporate further privacy screening, landscaped edges and deep balconies to maintain light and ventilation.

<img alt="First Look: Plans lodged for topography-led affordable housing project in Bellevue Hill" data-entity-type="file" data-entity-uuid="e8679cf1-18bc-4447-8a0f-0052b94ab83c" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Bellevue%20da%20rooftop.png?VersionId=5SQqQqRFf76rvE2p1TbxJSweMN70AIbc" />

Private and communal landscaping is distributed throughout the development. A landscaped garden apartment is positioned within the lower portion of the site, while a communal terrace on Level 5 will include a central timber deck, barbecue facilities, resident planting plots and areas for outdoor dining and informal gatherings.

Common Office described the terrace as an elevated sanctuary designed to capture district views and sunlight. Its planting strategy incorporates endemic species associated with the Eastern Suburbs Banksia Scrub, extending the landscape vertically through the building and providing habitat for local flora and fauna.

A second communal outdoor area is proposed at roof level, with built-in seating, paved gathering areas and perimeter planting.

Bellevue Hill is enjoying renewed momentum in the new apartment market, with several boutique developments recently launched and currently under construction. Positive Investment Enterprise is delivering the 16-apartment Kew Palm House on Birriga Road, while Chanine Developments is also under construction at Florian, a 36-apartment project on Banksia Road.

&nbsp;

Bellevue Hill is enjoying renewed momentum in the new apartment market, with several boutique developments recently launched and currently under construction.

First Look: Apartment development pitched for Bellevue Hill, Double Bay fringe

South Brisbane's apartment pipeline continues to build momentum, with <a href="https://www.apartments.com.au/developers/trk-property-group">TRK Property Group</a> lodging plans for a 161-apartment tower on Montague Road as developers accelerate investment across the Kurilpa Sustainable Growth Precinct.

The proposal for 176–186 Montague Road would replace an existing office building with a 20-storey residential tower designed by <a href="https://www.apartments.com.au/architects/cox-architecture">COX Architecture</a>, adding to a growing pipeline of high-density projects reshaping one of Brisbane's fastest-evolving inner-city precincts.

The project has been conceived as a "living building", featuring a flowing tower form, extensive vertical landscaping, and generous communal spaces that respond to the evolving Kurilpa Sustainable Growth Precinct.

TRK Property Group Development Director Matt Kan said the project reflected the confidence developers have in South Brisbane's long-term future.

"South Brisbane is entering an incredibly exciting period, and we see Montague Road sitting right at the heart of that evolution," Kan said.

"With the former Visy site directly opposite us and significant investment planned throughout the broader Kurilpa precinct, there is a real sense of momentum around this part of the city and what it will become over the coming years.

"For TRK, this is an opportunity to be part of that next chapter and deliver a project that responds to where the precinct is heading, while contributing to the continued evolution of Brisbane's river edge."

<img alt="First look: TRK Property joins South Brisbane apartment surge with Montague Road tower plans" data-entity-type="file" data-entity-uuid="590fe1ad-f892-4446-a679-80e33a16d029" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/TRK%20tower%20facade.png?VersionId=uOJStrcKpyHFcPE1w6_9SMAFzVMCcZll" />

The scheme includes a mix of one, two, three and four-bedroom apartments, incorporating multi-purpose rooms in selected residences to provide additional flexibility for home offices or expanded living areas. The proposed mix comprises 15 one-bedroom, 13 one-bedroom plus MPR, 73 two-bedroom, 26 two-bedroom plus MPR, 30 three-bedroom, and four four-bedroom apartments.

Rather than adopting a conventional rectilinear tower, COX Architecture has developed a sculpted form inspired by the movement of the Brisbane River.

"The proposal has been designed by COX Architecture as a 'living building' that responds to the site's riverine setting, floodplain history and evolving urban context within the Kurilpa Sustainable Growth Precinct," the planning report states.

"The architectural form draws from the fluid nature of the Brisbane River, with a curved and undulating tower form that creates a varied architectural edge and avoids a conventional rectilinear tower expression."

The podium has also been designed as an architectural feature rather than a conventional parking structure, with cascading planting, screening and natural-toned materials softening its appearance. Resident parking is elevated above ground level to address the site's flood constraints, while habitable apartments sit above flood planning levels. Upper-level communal facilities are designed to accommodate shelter-in-place arrangements during major flood events.

<img alt="First look: TRK Property joins South Brisbane apartment surge with Montague Road tower plans" data-entity-type="file" data-entity-uuid="01fa15d0-90df-46c7-9555-7941fc45373c" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/TRK%20podium.png?VersionId=mHyua.w1pHGBt9qEdWzrlsv.leztUCwO" />

Communal amenity is a major focus of the proposal. Around 1,815 sqm of shared resident space is proposed across the ground floor, level 19 and the rooftop, including co-working areas, indoor and outdoor recreation spaces, wellness facilities, dining and gathering areas, lawn spaces, a rooftop pool and spa, and extensive landscaping. At street level, a landscaped forecourt and approximately 345 sqm of publicly accessible open space along Montague Road are intended to improve the pedestrian experience while activating the building's frontage.

The development will provide 163 car spaces, including 152 resident bays and 11 visitor spaces, together with 144 bicycle spaces incorporating resident storage, visitor parking, bicycle maintenance facilities and e-mobility charging infrastructure.

The site sits within one of Brisbane's fastest-changing inner-city precincts, less than two kilometres from the CBD and within easy reach of South Bank, West End, the Queensland Cultural Centre and extensive public transport connections. The Kurilpa Sustainable Growth Precinct planning framework is encouraging higher-density residential development to help meet Brisbane's housing supply targets while supporting walkable, transit-oriented neighbourhoods.

TRK Property joins South Brisbane apartment surge with Montague Road tower plans

Article summary

<ul data-end="785" data-start="311">
	<li data-end="459" data-section-id="5hbcyr" data-start="311">Pikos Group has released the five-penthouse collection at Skye Kangaroo Point, headlined by a two-storey sky home spanning more than 1,000 sqm.</li>
	<li data-end="561" data-section-id="1p7lq8n" data-start="460">Early buyer interest suggests the residences could set a new Queensland apartment price record.</li>
	<li data-end="667" data-section-id="1y70z0l" data-start="562">The collection includes four move-in ready penthouses and the highly customised Skye One residence.</li>
	<li data-end="785" data-section-id="yvm0y1" data-start="668">The release caps one of Bri​sbane's most ambitious luxury apartment developments overlooking the Brisbane River.</li>
</ul>

<hr data-end="790" data-start="787" />
Pikos Group has released the five-penthouse collection at its <a href="https://www.apartments.com.au/buildings/skye-residences-by-pikos-kangaroo-point-8-river-terrace-kangaroo-point-qld-4169">Skye by Pikos</a> development in Kangaroo Point, with early buyer interest indicating the flagship residences could eclipse every apartment sale previously recorded in Queensland.

The collection crowns the luxury riverfront development with five residences, including four completed penthouses and Skye One, a two-level sky home spanning more than 1,000 sqm that will be tailored to its eventual owner.

[smartcode_project:default project_id=90059 project_image_fid=374075]

Wanting to offer a fully customisable home, Pikos is offering Skye One as a blank canvas, allowing the buyer to work alongside the developer's design team to customise the home's layout, finishes and internal spaces.

The residence will feature a 247 sqm private rooftop terrace with its own swimming pool, sauna, steam room, outdoor kitchen and multiple entertaining areas overlooking the Brisbane River and CBD skyline.

The remaining four penthouses have been completed and are ready for immediate occupation, each offering four bedrooms, expansive open-plan living areas, soaring ceilings and private lift access.

[smartcode_project:default project_id=90059 project_image_fid=374059]

One of the defining features throughout the project is its use of Roman Classic Travertine, with more than 20,000 sqm of the natural stone imported from Italy after being personally selected by Pikos Group Founder and Executive Director Pedro Pikos, interior designer Julie Williamson and third-generation stone specialist Mario Caucci.

Pikos said the penthouse collection represented the culmination of the company's long-term vision for Skye.

"True legacy isn't measured by what we build today, but by what endures tomorrow," Pikos said.

"Our ambition is to create places that become more valuable with time, enrich the lives of generations, and stand as timeless landmarks long after we've stepped away."

[smartcode_project:default project_id=90059 project_image_fid=374060]

Williamson said the interiors were inspired by the natural character of Kangaroo Point and the Brisbane River rather than international design trends.

"Materiality tells the story of a place," Williamson said.

"We looked to the movement of the Brisbane River, the texture of the cliff face and the warmth of the surrounding landscape to create interiors that feel understated, enduring and unmistakably Brisbane."

Positioned above the Kangaroo Point cliffs, Skye places residents within walking distance of Howard Smith Wharves, South Bank and James Street while offering uninterrupted river and city views.

[smartcode_project_cta:default project_id=90059]

Brisbane's next apartment price record? Pikos unveils Skye's exclusive penthouse collection

Sydney’s property market is known for high prices, competitive bidding, and mounting pressure on first home buyers. But change is on the horizon.

From late 2025, eligible first home buyers in New South Wales will have access to a new federal government initiative aimed at addressing affordability: the Help to Buy Scheme.&nbsp;

<h2>What is the Help to Buy Scheme?</h2>

The program introduces a shared equity model intended to reduce the upfront cost of entering the property market, particularly in high-demand urban areas such as Sydney.

The scheme operates under a shared ownership structure in which the federal government takes an equity stake of up to 40 per cent for new homes, or 30 per cent for existing dwellings. This arrangement allows eligible buyers to significantly reduce their loan size and avoid the added cost of Lenders Mortgage Insurance (LMI).

Under this model, purchasers can enter the property market with as little as a two per cent deposit, well below the traditional 10 to 20 per cent usually required. The government’s contribution is not a loan but a co-ownership stake in the property. As such, there is no interest or rent charged on its portion.

Because the government’s equity combined with the buyer’s deposit typically meets or exceeds the 20 per cent threshold, LMI does not apply. The remaining balance, generally between 60 and 70 per cent of the property’s value, is financed through a standard home loan with a participating lender.

The government's equity in the property remains in place until the buyer chooses to repay it voluntarily or until the property is sold. Buyers can buy back the government’s share over time, in increments of at least five per cent, depending on their financial situation.

There is no fixed repayment timeline, but the amount to be repaid will be based on the property's market value at the time of repayment, not the original purchase price.

<h2>How do you qualify for the&nbsp;Help to Buy Scheme?</h2>

To qualify for the Help to Buy Scheme, applicants must meet the following conditions:

<ul>
	<li>Be an Australian citizen at least 18 years of age.</li>
	<li>Be a first-home buyer who does not currently own property.</li>
	<li>Intend to live in the property as their primary residence.</li>
	<li>Earn less than $100,000 per year for individuals, or $160,000 for couples.</li>
	<li>Purchase a property within the regional price caps, currently $950,000 in Sydney, though this is expected to rise to approximately $1.3 million ahead of the program’s launch.</li>
</ul>

While the Help to Buy Scheme does not solve affordability challenges across the board, it does offer a more accessible pathway for a defined segment of the market, particularly younger buyers with moderate incomes who have been priced out of traditional lending routes.

The scheme is expected to commence in NSW in late 2025, as part of a national rollout.

Under the new model, purchasers can enter the property market with as little as a two per cent deposit, well below the traditional 10 to 20 per cent usually required

Help to Buy Scheme: What first home buyers in NSW need to know

The First Home Owners Grant (FHOG) is a government initiative designed to help eligible first-time home buyers by offering financial assistance towards the purchase or construction of a new home.

While the FHOG is a nationwide program, it is administered separately by each state and territory, meaning the eligibility criteria, grant amounts, and property requirements can vary depending on your location. This means that the amount available and the conditions attached to the grant will differ, so it is important to check the specific guidelines for your state or territory.

It’s important to note that the FHOG is just one of several incentives available to first home buyers. In most states and territories, the grant is not linked to stamp duty exemptions or concessions, with the exception of the Australian Capital Territory (ACT). The FHOG is typically a one-off payment, reducing the overall cost of purchasing or building a new home before any stamp duty concessions are applied.

Below, we provide a breakdown of the First Home Owner Grants available across Australia, outlining the specific details for each state and territory.

<h2>New South Wales First Home Owner Grant</h2>

First Home Owner Grant: Offers a $10,000 grant for new homes valued up to $600,000. For land purchases and owner-builders, the threshold extends to $750,000.

Stamp Duty Benefits: Provides full stamp duty exemption for homes valued up to $800,000, with concessions available for properties up to $1 million.

<h2>Victoria South Wales First Home Owner Grant</h2>

First Home Owner Grant: Provides a $10,000 grant for first-home buyers purchasing or building new homes valued up to $750,000.

Stamp Duty Benefits: Offers full stamp duty exemption for properties up to $600,000, with concessions available up to $750,000.

<h2>Queensland First Home Owner Grant</h2>

First Home Owner Grant: Offers $30,000 for contracts signed between 20 November 2023 and 30 June 2025. The FHOG applies to new homes valued up to $750,000.

Stamp Duty Concessions: Provides additional concessions for properties valued up to $800,000.

<h2>Western Australia First Home Owner Grant</h2>

&nbsp;

First Home Owner Grant: Offers a $10,000 grant for new homes valued up to $750,000 in the southern regions and up to $1 million in the northern regions.

Stamp Duty Concessions: Available for homes valued up to $600,000 for transactions entered into on or after 9 May 2024.

<h2>Australian Capital Territory First Home Owner Grant</h2>

First Home Owner Grant: Replaced by the Home Buyer Concession Scheme, offering full stamp duty concessions for eligible buyers.

<h2>South Australia First Home Owner Grant</h2>

First Home Owner Grant: Provides up to $15,000 for new homes, including houses, apartments, and townhouses. As of 6 June 2024, there is no property value cap for eligibility.

Stamp Duty Relief: Available for new homes and vacant land purchases.

<h2>Tasmania First Home Owner Grant</h2>

First Home Owner Grant: Offers a $10,000 grant for new homes and off the plan purchases.

Stamp Duty Exemption: Between 18 February 2024 and 30 June 2026, first home buyers of established homes valued up to $750,000 receive a full exemption on property transfer duty.

<h2>Northern Territory First Home Owner Grant</h2>

First Home Owner Grant: The Northern Territory provides a $10,000 grant for new homes only. Additional government grants and concessions are available for first home buyers.

Stamp Duty Exemption: The only stamp duty exemption available to property buyers is the House and Land Package Exemption (HLPE).

Eligibility criteria and application processes differ across states. Prospective buyers should refer to their respective state revenue offices for full details on grant availability, conditions, and additional concessions.

Every First Home Owner Grant for new property by state

In the ever-evolving landscape of sustainable architecture and environmentally conscious design, systems and ratings in place can help determine the energy efficiency of residential buildings in Australia.

Australia has multiple building rating systems that evaluate energy efficiency and sustainability in existing and new building designs.

Some systems assess individual building components, while others provide an overall rating for the entire structure.

A rating system ensures that homes are comfortable and energy-efficient, whether you are buying, renovating, or building.

NatHERS (Nationwide House Energy Rating Scheme) is a common way for new homes to meet energy efficiency requirements.

As new developments continue to shape the urban environment, understanding NatHERS ratings becomes essential for developers and homeowners. This article delves into the concept of NatHERS ratings, their significance, and how they contribute to creating energy-efficient homes.

<h2>What is NatHERS?</h2>

NatHERS is a national initiative implemented by the Australian government to promote energy efficiency in residential buildings. The scheme aims to provide a standardised method for assessing the thermal performance of homes, considering factors such as insulation, orientation, ventilation, and building materials.&nbsp;

NatHERS ratings are the most common way new homes meet the National Construction Code's (NCC's) minimum energy efficiency requirements.&nbsp;

NatHERS assessments provide thermal and whole-home ratings for new homes, townhouses, and apartments.

The rating helps evaluate the energy performance of buildings, guides homeowners and developers to make informed decisions about the energy efficiency of their properties, and encourages the construction of more sustainable, comfortable, and cost-effective homes.

<h2>How NatHERS Ratings Work</h2>

NatHERS ratings are determined through four accredited software tools (AccuRate, BERS Pro, FirstRate5, HERO) using a calculation engine CSIRO developed to predict building temperature based on various factors.

The tools can model complex effects of building mass, insulation, window size, and other elements.

The outcome is a star rating that reflects the building's overall thermal efficiency, indicating how well it can maintain a comfortable indoor temperature without excessive reliance on heating or cooling systems.

The star rating scale ranges from 0 to 10, with a 6-star rating being the minimum requirement for compliance with the National Construction Code (NCC).&nbsp;

Achieving a higher star rating demonstrates a commitment to energy efficiency and sustainability, as the building is better equipped to minimise its environmental impact and reduce long-term energy costs.

Anyone can use NatHERS tools, but accredited assessors can provide certified ratings and professional advice.

<h2>Benefits of Higher NatHERS Ratings</h2>

Energy Efficiency: Buildings with higher NatHERS ratings are more energy-efficient, requiring less heating and cooling energy. This reduces the structure's carbon footprint and lowers occupants' energy bills.

Cost Savings: Homes with higher NatHERS ratings are generally more energy-efficient, resulting in reduced energy consumption for heating and cooling. This translates to lower energy bills for homeowners, making sustainable living environmentally friendly and economically viable in the long run.

Environmental Impact: Lower energy consumption directly translates to a reduced environmental impact. Buildings with higher NatHERS ratings contribute to the overall goal of mitigating climate change by lowering greenhouse gas emissions associated with heating and cooling systems.

Improved Comfort: Buildings with high NatHERS ratings offer better thermal comfort to occupants. Proper insulation, well-designed ventilation, and optimal orientation maintain a consistent and comfortable indoor temperature, providing occupants with a more enjoyable and healthier space.

Market Value and Desirability: Higher NatHERS ratings can enhance the market value of a property. As energy efficiency becomes a more significant consideration for homebuyers, a well-rated building may attract a premium price and stand out in the real estate market.

Compliance with Building Codes: NatHERS ratings are a vital component of the National Construction Code (NCC), and compliance with these ratings is often a mandatory requirement for new developments. Local councils and planning authorities may set minimum energy efficiency standards that must be met to obtain development approval.

The Nationwide House Energy Rating Scheme (NatHERS) is a crucial initiative shaping the future of energy-efficient, resilient, and cost-effective homes. With its recent upgrades, NatHERS has evolved into a world-leading tool for the building sector, supporting the global commitment to achieving net-zero emissions by 2050.

Staff Writer

What is a NatHERS rating in new off the plan apartment developments?

Mixed-use developments have gained significant popularity across Australia in recent years due to their unique blend of residential, commercial, and recreational spaces.

Unlike traditional single-purpose developments, mixed-use projects offer a harmonious integration of various functions within a single locale.

Residential units seamlessly coexist with commercial establishments, retail outlets, dining venues, entertainment hubs, and recreational facilities, with the combination not only enhances convenience but also fosters a vibrant lifestyle and a sense of community.

<h3>Convenience and accessibility</h3>

Mixed-use developments are designed with convenience in mind. They often integrate residential units with commercial spaces, retail outlets, restaurants, and recreational facilities, creating a self-contained community.

[smartcode_project:default project_id=114215 project_image_fid=204874]

The proximity allows residents to enjoy the convenience of having essential amenities and services within walking distance. Whether it's grabbing a cup of coffee, going grocery shopping, or accessing healthcare services, everything is conveniently located, saving residents time and effort.

<h3>Vibrant lifestyle and community</h3>

One of the major advantages of mixed-use developments is the vibrant lifestyle they offer. With a diverse range of amenities and communal spaces, residents have ample opportunities to interact, socialise, and build a sense of community.

[smartcode_project:default project_id=107714 project_image_fid=214122]

The presence of parks, community centres, and shared spaces fosters a lively atmosphere, encouraging residents to engage in various activities and events. The vibrant lifestyle within these developments creates a unique sense of belonging and camaraderie among the residents.

<h3>Potential for higher rental yields and property value appreciation</h3>

Mixed-use developments tend to attract a broad range of tenants and buyers due to their versatile nature. This high demand can result in higher rental yields for investors and potentially lead to property value appreciation over time.

[smartcode_project:default project_id=139989 project_image_fid=212887]

The integration of commercial and retail spaces attracts businesses, which can provide a stable rental income stream. Additionally, the popularity of mixed-use developments often drives up property values, making them a potentially lucrative investment in the long term.

<h3>Enhanced security and maintenance</h3>

Mixed-use developments typically have comprehensive security measures in place. With controlled access points, CCTV surveillance, and professional security staff, residents can enjoy enhanced safety and peace of mind.

[smartcode_project:default project_id=108019 project_image_fid=212658]

Additionally, these developments often have dedicated maintenance teams responsible for the upkeep of common areas, landscaping, and infrastructure. This ensures that the overall appearance and functionality of the development are well-maintained, creating a pleasant living environment for residents.

<h3>Live-work-play balance</h3>

One of the key attractions of mixed-use developments is the ability to achieve a desirable live-work-play balance. The integration of residential and commercial spaces allows residents to live closer to their workplaces, reducing commuting time and improving work-life balance.

The proximity to various amenities and recreational facilities encourages an active and healthy lifestyle. Residents can easily access fitness centres, parks, restaurants, and entertainment options, all within the same development, leading to a more fulfilling and convenient way of life.

alisonwarters@gmail.com

The top five reasons to buy in a mixed-use development

When buying a property, everyone needs to be aware of the additional costs that come as part of the buying process.

Often the largest outlay, after the deposit which goes to the bank, is stamp duty.

<h2 style="line-height: 1.38;">What is Stamp Duty?</h2>

Stamp duty is an extra tax to pay the government when you buy land, a property, and other certain assets.

It happens when the legal ownership is transferred. It can also be known as property transfer duty or transfer duty.

<iframe allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture" allowfullscreen="" frameborder="0" height="415" src="https://www.youtube.com/embed/C32BWkB5--c" title="YouTube video player" width="660"></iframe>

<h2>Who pays Stamp Duty?</h2>

In some circumstances, you may get an exemption. For some states, you won’t have to pay for stamp duty if you are a first home buyer or a pensioner for houses under a particular price. There are also stamp duty concessions, where you may be entitled to a discount.

<h2>How much does Stamp Duty cost?</h2>

Each state has different rules which affect how much you need to pay. These rules can affect the rate you pay, and the timeframe you will need to pay in. Before you buy land or a property, make sure you check the up-to-date information for your state’s stamp duty.

You can use a free stamp duty calculator online to see approximately how much you’ll need to pay. Find out if you’re eligible for an exemption by enquiring on a project via Urban!

Overall, the stamp duty you need to pay will depend on:

<ul>
	<li aria-level="1">How much your land/property is worth</li>
	<li aria-level="1">Where your land/property is located</li>
	<li aria-level="1">What type of land/property it is</li>
</ul>

Want to find out more? <a href="https://www.youtube.com/@UrbanAustralia?utm_source=YouTube&amp;utm_medium=Video&amp;utm_campaign=Subscribe&amp;utm_id=Subscribe">Subscribe to our YouTube channel</a> for more property videos.

Ellen Walker

Off-the-plan property explained: What is stamp duty?

Prominent New Zealand apartment and hotel operator, <a href="/developers/safari-group">Safari Group</a>, is offering up a prime investment opportunity for Australians to purchase off the plan in one of the world’s most popular ski destinations.

They recently took to market Mountain Oak Queenstown Apartments, in the growing precinct of Remarkables Park in Frankton, near the airport and at the foot of The Remarkables - the mountain range the locals like to call “The Remarks”.&nbsp;

Sydney investors have shown interest in the one, two and three-bedroom apartments that secure high-season occupancy six months over the year, primarily over summer and winter months.

They average 90 per cent occupancy across their portfolio over January, February, March, August, November and December, while shoulder season months of April, July, September and October are still occupied 70 per cent of the time, with the growing appeal of Queenstown becoming not just a hotspot for the snow, but a lifestyle destination.

Even in the low seasons of May and June, occupancy levels reach around 40 per cent.

<img alt="Safari Group’s Mountain Oak Apartments brings new investment potential to Queenstown" data-entity-type="" data-entity-uuid="" src="https://res.cloudinary.com/dz9xllyip/image/fetch/f_auto,c_limit,w_1440,q_auto/https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/field/image/Ext_Cam15_Sunny.jpg?VersionId=SJAROUM_1s.Tr5ciMk4EEj5oAt_Vewmv" />

Safari’s Safari Hotels arm can also manage the holiday letting for an investor, from the listing on holiday accommodation websites such as Airbnb and Booking.com to the cleaning and maintenance of the investment. They’ve been in the short stay management business for 15 years and offer 24/7 support for investors, an important convenience benefit for any overseas investor

Another major drawcard for Australians is that New Zealand doesn’t have a stamp duty policy - so the entry price of NZ$639,000 (AU$586,000), is all that is payable on completion.

<img alt="Safari Group’s Mountain Oak Apartments brings new investment potential to Queenstown" data-entity-type="" data-entity-uuid="" src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,dpr_2.0,q_auto:good/https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/313_Livingv2_WEB.jpg?VersionId=nV229fM0ZeYpoxOrX372HyGjfwY_LR8c" />

Safari is starting construction of the 141 apartments in Q2 this year, with a two-year build estimated to complete in mid-to-late 2027.<img alt="" data-entity-type="" data-entity-uuid="" height="15" src="https://lh7-rt.googleusercontent.com/docsz/AD_4nXczFpFAb7WuA6f4f9TtKWcqXyNwR8qqtakWv352ERkpqNlP3KwIo8YKxw67jZNHfpjEGIZGv5MQTbnvLZwNt8iu9IVdOrswOjCvBZ4zhSoOOLrpt6etVEZTN1gkBho0r_R72zdHNA?key=yq3daOanqHSb88QFd8jGYKdb" title="Click and drag to move" width="15" />​

The apartments will feature modern amenities and contemporary designs with expansive windows capturing sweeping views of The Remarkables mountain range.&nbsp;

Interiors are equipped with modern finishes, premium appliances, and secure electronic key-locked doors, ensuring a comfortable living experience for residents and guests alike.

With its strategic location near Coronet Peak and Cardrona Alpine Resort, as well as key retail and dining precincts such as Market Street, Five Mile Shopping Centre, and Remarkables Market, Mountain Oak offers a strong proposition for investors seeking high rental yields and capital appreciation in one of New Zealand’s most sought-after locations.&nbsp;

Queenstown’s sustained demand for visitor accommodation and rental properties is underpinned by a shortage of housing options, attracting both local and international buyers.

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

<html><body>
A private offshore investor has paid $1.535 million - a yield of around 8% - for The Mezzanine at 65 York Street, Sydney.
The prime strata investment is on the corner of Barrack and York Streets in an iconic art deco heritage building. 
The Mezzanine comprises approximately a 231 square metre showroom/office plus storage.
The sale was negotiated by Savills’ executive, Ben Adler who said that with heavy restrictions in place on buying investment property in countries such as Singapore, China and Hong Kong savvy offshore investors are now switching their focus to places such as Australia.
Adler says this has become even more advantageous with the weakening of the Australian Dollar and falling interest rates. 
"The result is a dramatic influx of investors chasing well located CBD investments that offer solid lease covenants and strong yields. 
"In the sub $10m range there are still several opportunities to purchase on yields of 7.5% plus," he says.
</body></html>

lschlesinger-FZcF9M3vE6

Offshore investor buys art deco Sydney strata space for $1.535 million

<html><body>
Much has been made of the rebounding listed property sector in the past 12 months.
Atchison Consulting managing director Ken Atchison highlighted recently that <a target="_blank" href="https://www.propertyobserver.com.au/commercial/a-reits-deliver-strong-results-and-beat-equities-ken-atchison/2013042360678">A-REITs returned 30.7%</a> over the year to March 31, outperforming equities by 10.7%.
“Over three years listed property returned 11.7% p.a. Industrial property was the strongest performing sector over three years at 20.4% p.a,” he said.
However, the sector is now 10% off its recent peak with A-REITs down 3.7% in May (compared with a 4.4% decline in equities).
Further gloss was taken off the sector following Australand’s unsuccessful attempts to negotiate a sale of its non-residential business to GPT.
The worst performers over May were residential develop FKP Group (-13% cumulative return) followed by the CFS Retail Property Trust (-8.2%) ,Westfield Retail Trust (-6.9%) and Australand (- 5.9%).
Stockland, Australia’s largest diversified listed property trust, suffered a 4.9% fall in total returns in May with Goldman Sachs A-REITS analyst Simon Wheatley noting that it has been carrying a large cumulative balance of provisions since 2008.
Taking a longer-term view, A-REITS have rebounded 148.2% from their March 2009 (compared with an 88.4% rise in equities over the same period) but are still 40% down from their peak.
Returns comparison
<img src="/images/stories/april3grandview/areits_performance.jpg" width="470" height="280" alt="areits_performance">
Source: Goldman Sachs
Wheatley notes that the sector was looking “expensive recently” with some REITs having recorded price falls of 15% to 20% in the space of a month.
However while there was a “meaningful decline” in May, he says A-REITs “fared relatively well versus the broader equity market”.
Apart from an overall fall in market conditions and confidence – the May NAB Monthly Business Survey had business conditions at low levels with unchanged mediocre confidence levels – other factors contributing to the slide include A-REIT-focused funds now having little spare cash to invest in the sector following recent capital raising investments, better value offered by recently devalued Asian REITS, as well as the recent fall in the Australian dollar.
The Australian Financial Review notes that a recent spate of capital raisings from Mirvac Group, Stockland and Cromwell Property Group, which raised $1.5 billion having “given investors a severe case of indigestion”.
However analysts like Adam Fairfax at JP Morgan believe investors will return to the sector spurred on by better yields offerings, quoting CFS Retail Property Trust and Westfield Retail Trust offering yields of 7.25% and 6.6% respectively.
</body></html>

Recovery in "expensive" A-REIT sector falters with 3.7% fall in May

<html><body>
It’s interesting to note that today the internet is the most significant communicator in the world – according to Internet World Stats, as of December 31, 2011 there was an estimated 2,267,233,742 internet users worldwide representing 32.7% of the world’s population.
Given the recent obsessions with tablets and smartphones this number would have increased significantly where I believe internet users would now be greater than 50% of the world’s population. To a certain degree our lives have become somewhat obsessive with information – sharing and accessing a multitude of networks in a relentless search for information.
I was interested to read comments this week by Andrew Jaspan, the former editor of The Age, who said paywalls were not the answer to falling print revenues – “I think you’ll probably see the Sydney Morning Herald and The Age stop printing within a year, or two years, Monday to Friday.”
Already it is becoming most obvious that the “rivers of gold” (advertising revenues) have been diverted to online platforms simply because they are much more cost effective.
Jaspan went on to say “It was one hundred and fifty years ago that newspapers were the cheapest way to distribute, now the cheapest way is online, the most expensive way is actually through newspapers. Newspapers are going to become premium price and going to sell less of them.”
Newspapers will become a weekend edition although in time I believe that they will cease to exist as tablets and smartphones become the intelligent choice of consumers.
What remains to be seen is will consumers revert to paywalls? I’m not convinced given all this does is open the door for new players to enter the online media world with smarter platforms. Paywalls are being set up by newspapers simply because online has made them redundant where it can be argued they still don’t understand online – time will tell.
The latest go-to word in the media was that nasty recession word which made a fascinating debut when applied to the Australian economy. The last recession in the early 1990s was debt related more particularly with households when the cash rate climbed to around 17% – although today it currently sits at 2.75 per cent. Professor Ross Garnaut delivered an interesting speech this week – <a target="_blank" href="https://www.whocrashedtheeconomy.com/blog/2013/05/garnaut-takes-us-behind-the-smoke-and-mirrors/" title="Garnaut takes us behind the smoke and mirrors.">Garnaut takes us behind the smoke and mirrors.</a>
“Between the recession of 1990-91 and now, mid-2013, Australians have enjoyed the longest period of economic expansion, unbroken by recession, of any developed country ever.”
He now believes Australians must choose between two different paths – ‘business as usual’ and ‘public interest’. “If we continue with ‘business as usual’, we continue to live behind the veil of ignorance that has descended around public life. But, sooner or later, we will experience deep economic recession with high unemployment.”
<img src="/images/stories/2013/06/simeonjune12one.jpg" width="470" height="339" alt="simeonjune12one">
 
<hr class="system-pagebreak">
<a target="_blank" href="https://www.smh.com.au/business/fears-of-a-recession-on-the-rise-20130606-2nrki" title="Fears of a recession on the rise">Fears of a recession on the rise</a> was followed quickly with <a target="_blank" href="https://www.smh.com.au/business/wa-in-recession-as-growth-slows-to-a-trickle-20130605-2nqh4" title="WA in recession as growth slows to a trickle">WA in recession as growth slows to a trickl</a>e which was then followed – up with <a target="_blank" href="https://www.theage.com.au/business/wa-recession-claims-are-hysteria-20130606-2nrzv" title="WA recession claims are ‘hysteria’">WA recession claims are ‘hysteria’</a> which was a classic example of the information highway running amok. There is no doubt that Western Australia will experience a slowdown given that is exactly what is happening to the mining industry – which definitely won’t be in ‘business as usual mode’.
Whilst we are faced with huge changes ahead within the business community they are also exciting times given the one industry that is growing at the fastest pace is the online side of the business. This means that every business (in some shape or another) will have to adapt smarter online initiatives which is even more exciting given the majority of these strategies are yet to be developed. It is most obvious that online is the new consumer communicator where the only problem for business is that they still remain firmly entrenched in ‘business as usual’ mode.
Stock levels continue to decline where in some instances volume numbers are at all – time lows despite the lowest ever cash rate. Interestingly enough we are seeing more panic coming from the purchasers not the vendors.
<h4>MOSMAN – 2088</h4>
• Number of houses on the market this time 2012 – 94 • Number of houses on the market last week – 85 • Number of houses on the market this week – 81 • Number of apartments on the market this time 2012 – 96 • Number of apartments on the market last week – 64 • Number of apartments on the market this week – 59
<h4>CREMORNE – 2090</h4>
• Number of houses on the market this time 2012 – 18 • Number of houses on the market last week – 8 • Number of houses on the market this week – 8 • Number of apartments on the market this time 2012 – 37 • Number of apartments on the market last week – 15 • Number of apartments on the market this week – 10
<h4>NEUTRAL BAY – 2089</h4>
• Number of houses on the market this time 2012 – 16 • Number of houses on the market last week – 11 • Number of houses on the market this week – 12 • Number of apartments on the market this time 2012 – 66 • Number of apartments on the market last week – 34 • Number of apartments on the market this week – 32
It has become increasingly obvious that yes, the way we do business is rapidly changing to the extent we need to be more adaptive and coherent with the future not the past. I love the saying that “if it’s not broken don’t try and fix it” – I would add that it’s actually been broken for quite some time given business has struggled to understand the speed of the information highway.
The vast majority of businesses in Australia apply the internet on a part-time basis which is simply because the proprietors simply don’t understand it – to the extent they basically have it on ignore.
It is quite obvious for the vast majority they need to adopt new strategies given we are faced with declining markets across the board. In the case of the real estate industry life after newspapers will be a monumental challenge for the agencies.
More particularly in that they will have to fund the new-world online initiatives?
Robert Simeon is a director of <a rel="nofollow" target="_blank" href="https://www.rwm.com.au/" title="RWM">Richardson  Wrench Mosman and Neutral Bay </a>and has been selling residential real estate in Sydney since 1985. He has also been writing real estate blog <a rel="nofollow" target="_blank" href="https://www.rwm.com.au/news/" title="Virtual Realty News">Virtual Realty News</a> since 2000. The RWM real estate model has sold in excess of $1 billion in database sales globally.
 
 
</body></html>

robertsimeon-hRNTwJyXkQ

Life after newspapers will be a monumental challenge for real estate agencies: Robert Simeon

<html><body>
Interestingly, the industrial property market in metropolitan Melbourne still remains the largest in Australia.
The market has evolved significantly over the last two decades — largely underpinned by the strong growth in supply chain sectors (ie: the transport, logistics and distributions sectors).
In addition, there has been significant infrastructure investment, population and workforce growth, along with the entry of major institutions and developers.
<h3>Your choice has become wider</h3>
As a result, what you are seeing is quite a diversity in the types of industrial/logistics buildings demanded by corporate and other users — which have included manufacturers, as well as operators of warehouse/distribution and special temperature-controlled facilities.
The industrial market was one of the hardest hit by the GFC and it continues to be impacted by tough conditions, although they have is stabilised since 2011.
Land values have still not yet fully recovered from the depths of the decline experienced through the GFC, and remain at a 15% to 20% discount to pre-GFC values.
Yields and rents appear to have stabilised. However, some leasing still remains patchy, with transport, distribution and logistics sectors performing the strongest — given the impact felt from increasing supply chain needs of online retailing.
Absorption rates also remain subdued, at around 60% of average absorption rates observed through the 2000s.
Effectively, new supply has stalled; with limited strata unit projects emerging within in-fill locations. This lack of supply has continued to affect Melbourne's shortage of prime-grade stock, with many tenants being pushed into secondary-grade industrial buildings as a result.
Growth corridor plans from Melbourne's urban fringe have identified an additional 5,000 hectares of industrial land, which could come on to the market over the next 30 years.
Bottom line: This additional supply equates to approximately 40 years of demand — in addition to the 30 years of demand currently in the market.
Therefore, closer integration between logistics and online retailing will become an important driver of future industrial demand — especially as consumer sentiment picks up.
David Morton is a commercial and industrial property valuations specialist with <a target="_blank" href="https://www.charterkc.com.au/">Charter Keck Cramer</a>.
</body></html>

dmorton-QVitgWwqj6

Industrial property in Melbourne is becoming more appealing: David Morton

<html><body>
An investor has acquired a 170-square-metre warehouse unit in the Hyde Business Park in Yarraville for $420,000 for their self-managed super fund (SMSF). 
The two-level warehouse is one of 13 units being sold or available for lease in stage one of the business park development. 
It will lease for around $36,000 per annum equating to an indicative yield in excess of 8%. 
Yarraville is around 4 kilometres from the Melbourne CBD.
Another two-level unit in the development – unit 13 measuring 146 square metres over two levels - sold for $370,000. It includes a balcony looking over Melbourne’s Ports to the CBD. 
Both sales were negotiated by Colliers International’s Cameron Hunter and Nick Saunders, who have negotiated seven sales in the development to date. 
“The Hyde Business Park development is perched high on the hill and looks out to the Melbourne CBD. The views at night time in particular are unbelievable,” says Hunter. 
The remaining six warehouse units which feature automated roller shutter doors, kitchenette and shower within landscaped gardens remain available for purchase with prices from $365,000 from $465,000.
</body></html>

SMSF investor acquires Yarraville warehouse with city views for $420,000 on 8% yield

<html><body>
Hobart houses and units continue to spend the most time on the market, according to an RP Data report for the week ending June 9.
Hobart houses spend an average of 74 days on the market and offer the largest average vendor discount of 13.2%.
Hobart units spend an average of 103 days on the market and offer an average vendor discount of 11.1%.
Sydney houses spend the least amount of time on the market – an average of 35 days – and Sydney units only spend an average of 33 days on the market.
<img alt="rpdatatimeonmarketjune12one" src="/images/stories/2013/06/rpdatatimeonmarketjune12one.gif" width="470" height="318">
<img alt="rpdatatimeonmarketjune12two" src="/images/stories/2013/06/rpdatatimeonmarketjune12two.gif" width="470" height="422">
<img alt="rpdatatimeonmarketjune12three" src="/images/stories/2013/06/rpdatatimeonmarketjune12three.gif" width="470" height="427">
‘Time on market’ (TOM) is simply the average number of days between when a property is first listed for sale and the contract date.
The rate of vendor discounting is the average percentage difference between the original listing price and the final selling price.
The statistics are calculated across results received by rpdata over the past week and include properties transacted over the past four weeks.
The data is based on private treaty sales only and records without a valid sale price have been excluded from the vendor discount analysis. The analysis also excludes results where there are less than 10 observations.
</body></html>

ntrotman-Et3xWpamVh

Hobart houses and units continue to linger on the market: RP Data

<html><body>
Western Australia and Tasmania have led the states in the latest new listings activity figures published by RP Data for the week ending June 9. 
Western Australia recorded a 2.4% month-on-month (seasonally adjusted) increase in listings, while Tasmania had a 0.5% increase.
<img height="250" width="470" src="/images/stories/2013/06/rpdatanewlistingsjune12one.gif" alt="rpdatanewlistingsjune12one">
<img height="205" width="470" src="/images/stories/2013/06/rpdatalistingsjune3two.gif" alt="rpdatalistingsjune3two">
The RP Data listings index provides a lead indicator for the number of residential dwellings that are being prepared for sale across the Australian housing market.
RP Data customers account for over 70% of all listings in the Australian property market.
The index, which tracks the flow of metadata across RP Data’s real estate data platform, shows a 75% correlation with the number of new listings about to enter the market.
</body></html>

WA and Tasmania lead new residential listings activity: RP Data 

<html><body>
Somewhere deep in the ethics-free zone that is newspaper reporting they’ve come up with the wackiest notion yet: Western Australia is in recession.
It’s nothing of the sort, but in print media few give a damn.
Here’s how it works in metropolitan newspapers. Someone with a public profile makes a speech. A reporter lifts a single sentence from the speech, takes it out of context, puts an outrageous spin on it and turns it into the screaming negative that will make tomorrow’s front page lead. Other newspapers will pick up the story and repeat it as fact. Within 24 hours it has become an undeniable truth, repeated as such around the nation.
That’s how the notion of a real estate bubble got started in Australian several years ago. Reserve Bank governor Glenn Stevens made a speech. A Sydney journalist reported that Stevens said he was concerned about a real estate bubble. Most major outlets around the country picked up the story and repeated it as fact. It has been regarded as truth even since.
But Stevens never said it, nor anything remotely like it. It was more than a beat-up – it was a fabrication. I read a transcript of the speech and listened to an audio of the speech and the question-and-answer session that followed. The word “bubble” was never used. Nothing was said that could be construed as concern that Australian property prices were inflated. The RBA issued several media releases to correct the public record, but no one was interested.  
Last week something similar happened. Saul Eslake, a candidate for the national title of economic forecaster who gets it wrong most often, said this: “In WA it’s probably too early to say it is in recession but given the way unemployment is increasing it is very close.”  
Eslake’s rather startling leap from an alleged rise in jobless numbers to being on the brink of recession was based on erroneous numbers. He said WA’s jobless rate in April was 5.2% - but the ABS records a jobless rate of 4.9% in WA, well below the national average of 5.5%.  
Since when has a rise in unemployment been the marker for recession, anyway – but, no matter, the West Australian newspaper declared that the state already was in recession and it quickly became a national story. A fiddling of State Final Demand figures to create a negative impression added further to the beat-up.  
I’ve examined a range of economic indicators and they all show WA is the polar opposite of a state in recession. Out of nine indicators, it leads the nation on four, is second on another and third on the other four.  
Its population growth rate is 3.3%, well ahead of the 1.6% national average and easily the highest in the nation. Retail spending has risen 7.9% in annual terms, compared to the 3.1% national average and again the highest growth in the nation. Finance to home-buyers is up 10.8%, compared to just 1.6% nationally, and yet again No.1 among the state and territories.  
WA also leads in annual growth in gross state product, while annual growth in state final demand is a tick under 10%, three times the national average and second highest in the land.  
Building approvals are up 16.6%, double the national average, and growth in dwelling commencements is the third highest in Australia. There has been a 12.7% rise in loans to property investors, almost double the national average.
In Perth, residential rents have risen 20%-plus and prices are starting to follow, as increasing numbers of buyers compete for homes, some offering well above the asking price to beat off competitors.  
If this is recession, Australia is deep the toilet and the world is buggered.  
The federal Treasury was sufficiently disturbed by the bizarre media headlines to label the reports “hysteria”. Treasury chief economist David Gruen told a Senate hearing last week: “The idea that, in the face of the largest export boom we have ever seen, you ignore exports and focus on the price of the economy which is demand in WA and claim that that’s a recession, it belongs in the comic books, not in serious newspapers.
“We are in the midst of the biggest mining boom we have ever seen, a significant share of that is in WA - and they are exporting volumes of iron ore and increasingly liquefied natural gas at rates we have not seen before in our lifetimes.  
“Recessions have never been assessed on the basis of demand, they are assessed on the basis of output.”  
I’ve filed notions of a recession in WA in the same waste paper basket as claims that the resources boom is over. WA continues to be the national growth leader, challenged only by the Northern Territory, and Perth continues to have the nation’s second hottest city real estate market, bettered only by Darwin.  
Terry Ryder is the founder of <a href="https://www.hotspotting.com.au/" target="_blank">hotspotting.com.au</a>
</body></html>

terryryder-YECXbqmri2

Despite media misinformation, Western Australia remains national growth leader: Terry Ryder

<html><body>
RP Data's research for April shows a sharp fall in the amount of time Australian residential properties are spending on the market. This is reflective of stronger housing market conditions over the first quarter of the year.
This is a great result, but we need to question whether the current rapid pace of sales can be maintained.
Across most capital cities, the current average time on market is lower than at the same time last year.  In fact, the time on market is lower across each capital city except for Brisbane and Hobart.
Time on market for capital cities:
<ul>
<li>Sydney - 35 days</li>
<li>Melbourne - 38 days</li>
<li>Canberra - 49 days</li>
<li>Brisbane – 72 days</li>
<li>Adelaide – 68 days</li>
<li>Hobart  - 110 days</li>
<li>Darwin and Perth - 52 days </li>
</ul>
Although time on market is at quite low levels it will be interesting to see whether or not these levels can be maintained with lower levels of new stock coming on to the market and the recent successive monthly falls in capital city home values.
On the other hand, sales volumes have been improving from a very low base indicating that if vendors set appropriate prices on their homes, they should be able to attract buyers and sell the home in shorter period of time.
Across the country, the average time on market for all homes is currently recorded at 60 days and at the same time a year ago, the figure sat at a slightly higher 67 days.
The national average time on market for a house is currently 62 days compared to 68 days a year ago. For units it was 61 days a year ago compared to 51 days currently.
Based on the latest time on market results, average time on market was abnormally high over the previous three months.  This performance can be attributed to a spike is seasonal activity where in January, and to a lesser extent February, the housing market was interrupted by a larger proportion of buyers, sellers and facilitators such as real estate agents, conveyances and financiers being  on holidays during the period.
Taking seasonality into account, the surge in selling time was much higher than normal over the early months of 2013. RP Data didn’t see the average selling time fall by as much as normal in March.
It is difficult to decipher exactly what has happened during this period where we saw longer selling time trends occurring in-line with a sustained drop in total listings. Potentially it could be that stock sitting on the market for a long time started to shift.  Because the time on market figure is only calculated across those properties that sell over the month, a higher proportion of older stock selling will bias the results higher.
Across the combined capital cities, homes are currently taking an average of 50 days to sell compared to 60 days at the same time a year ago.  Over the previous three months, the time on market was significantly higher; however, the figure has now returned to similar levels as those in November 2012 (49 days).
Capital city houses are currently taking an average of 53 days to sell and units 44 days compared to 61 days and 56 days respectively a year ago.  Similar to the national results, there was an unusually high average time on market for the first three months of the year.
Looking further into the relationship between the six months change in capital city home values, and the average days on market for capital city homes, we found that when values are rising, the number of days it takes to sell a home is inherently lower.
On the other hand, when values are falling or growth is more moderate, the time on market tends to be higher.  Of course this is a logical relationship but it is interesting to note that the change in direction of value movements actually tends to slightly precede the change in the number of days in market. This is indicative of the slight delay in the market catching up to the prevalent market conditions.
Cameron Kusher is senior research analyst at <a href="https://www.myrp.com.au/" rel="nofollow" target="_blank">RP Data</a>.
Note: The time on market figure measures the average difference between the date at which a property is first listed for sale and the contract date.  It is important to note that this metric is only measured across private treaty sales, i.e. it does not include auctions.  When the time on market figure is low it indicates that buyers and sellers are agreeing on a sale price relatively quickly and vice versa.
 
</body></html>

ckusher-ujnxiKuFQs

Faster house sales reflect stronger market conditions over first quarter of 2013: Cameron Kusher

<html><body>
The Reserve Bank board must harbour some small concern that despite record low interest rates, Australia’s economy is not responding quickly.
It is not creating the a sharp turn-around in consumer or business confidence.
In fact, in the face of rates being cut to record lows, Australian consumer confidence fell.
That said, it was measured just after the federal budget, and there weren’t many smiles in that.
Yes, I understand that auction clearance rates in Sydney have topped 80% in the past couple of weekends. I know that Melbourne is showing signs of recovery. But Queensland’s ongoing malaise, caused by a massive fall in coal prices and the property market continuing to lie flat on its back gives cause for concern.
Again, what happens if you cut rates but nothing (or not enough) happens? The dollar’s fall will do more to stimulate Australia’s economy – especially the rural and the manufacturing sector.
Yet though the government will consistently blame the dollar for all the recent travails in the economy, it will not face up to the fact that the horse has bolted.
Manufacturers have left the country and those that haven’t already are heading there as quickly as possible. And this is where the government has been too slow to respond. This is where the sliver of a majority has worked against the Australian people and the Australian economy.
If we had our time over again, the better solution would have been for Australia to go back to the polls in 2010 to get a decisive majority for either political party.
In the past three years – despite hectic legislation – it is hard to conclude that Australia has done anything other than wallow.
Gross National Expenditure is running around 1%, which shows it is the import/export side of the equation that is still holding up growth. That said, as Treasury Secretary Martin Parkinson said this week, there is some stupidity in looking at the numbers. To suggest that WA is in recession was just plain dumb.
The problem is that WA – like Australia – is a big place and what households are feeling in Perth is vastly different from Port Hedland or Paraburdoo. What Australia needs - and I think the public is up for it – is big fundamental change: to the tax system, state and federal relations and to the way social welfare is paid.
I understand in saying this that the white noise will be immense as individual groups win or lose from such changes. But for Australia’s productive future, change has to occur.
The nation has to be able to pay its way. But even more, if must give incentive to those prepared to take risks, in order to create more wealth in the future.
The feeling I get right now – from all parts of Australia – is that the nation has squandered the mining boom.
And now that its best days appear to be behind us, the big question is whether Australia can make hard decisions to better profit from its tail. And that does not mean handouts, it means acknowledging the concept of being paid for a hard-day's work and not being taxed too heavily for the privilege.
<a href="https://www.rossgreenwood.com.au/" target="_blank">Ross Greenwood</a>  is the finance reporter for Today presenting his “Money Minute”segment daily at 6.50 and 7.50am and Nine News and presents Money News nightly on 2GB. He has been the editor of numerous business publications, including Personal Investor between 1986 and 1997.
</body></html>

Latest Investing Insights

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

Editor's Picks

Developments

New apartments

New townhouses

News

Latest Investing Insights

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

Editor's Picks

Receive the latest news stories to your inbox

Developments

New apartments

New townhouses

News