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“Minister Chanthivong and his team have shown real leadership in replacing an outdated two-year bond with cover that matches the lifespan of the buildings people are buying into.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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In this <a href="https://his-best.biz/negotiate-and-win/" target="_blank">short video</a>, you will be given a quick introduction to the three key elements you need to underpin every negotiation.
Because, once you know how to negotiate, this will provide you with your ultimate passport to success.  
However, negotiating clearly involves far more than simply three elements, as you have so many other strategies, tactics and nuances that go into becoming a master negotiator.
But the good news is that all of these are teachable skills which you're able to quickly and easily learn with little or no effort.
As you can appreciate, over a career of 40-plus years, you tend to see and use virtually every negotiating technique there is. And one by one, I have tested them and noted them down.
To the point where I've now compiled: Your A to Z of Negotiating.? And therefore, let me quickly walk you through the very first aspect...
Agendas
Everyone going into a negotiation has an agenda. But the mistake most people make is in assuming that your agenda is the same as theirs.
You know, in all my years as a negotiator, I've never seen two identical agendas. Sure, there may be a few common items, but they never seem to be in the same order of importance, on both agendas.
As such, the number one item on their agenda may well be number seven on yours. And the secret lies in knowing just how to determine that, which is one of the other 25 techniques.
Because, once you know what's on their agenda, you are then in a strong position to trade your lesser items, to achieve your ultimate objective.
In fact, the biggest mistake you can ever make is to allow your negotiation to reach the point where price has become the only item under discussion. From there on, one party has tolLose in order for the other to win.
Basically, there are only four outcomes for every negotiation…
<img src="/images/stories/2013/06/langjune5one.jpg" alt="langjune5one" width="470" height="278">
Your aim ought be to take control of the negotiation and steer it towards a win-win result. That way, it ensures the deal will 'stick' while the documentation is being prepared.
Bottom Line: If you really are serious about improving your negotiating skills, you might care to <a href="https://his-best.biz/negotiating-secrets3/" target="_blank">enroll in my master class on negotiating</a>.
Chris Langis an advisor to commercial property investors, sell-out author and regular speaker on how to invest in commercial property. You can visit his website <a href="https://property-edge.com.au/" target="_blank" rel="nofollow">Property Edge Australia</a> to help you get the most out of your commercial property investing.
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chrislang-EQKojcgJPV

Negotiating the best deal in commercial property transactions: Chris Lang

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Local business owners are snapping up industrial properties below $1 million in Melbourne's bayside suburbs, with recent sales activity and a dwindling amount of space suggesting that investors and developers take a look at the market.
A stock shortage appears to be looming with just 11 properties offering space in excess of 1,000 square metres currently available, according to Colliers International industrial property agent Jamie Stuart.
Of the last five properties he has sold, four have been purchased by owner-occupiers from within the local area. 
“The bayside area is quite a localised owner-occupier market,” Stuart says.
“Businesses within the bayside region of Breaside, Mordialloc, Cheltenham, Moorabbin and the surrounds are bucking the trend and expanding due to increasing confidence in the market and the ability to attract and retain a solid work force in this area.”
Recent sales  include a 1,000 square metre office/warehouse at 1 Endeavour Way in Braeside bought by neighbouring business The Wrapping Paper Company Pty Ltd for $1,105,000; while a 750 square metre from  former engineering facility at 65 Shearson Crescent in Mentone was snapped up for $780,000 by a purchaser who already had premises in the same street. 
Other sales included:
<ul>
<li>A 208-square-metre modern boutique office/warehouse at 9/34 Christensen Street in Cheltenham was purchased by an owner-occupier from Middle Park for $330,000; </li>
<li>A 405-square-metre office with storage at 52 Parkhurst Drive in Knoxfield purchased by a photography company for $465,000; and</li>
<li>A 1,018-square-metre older style office/ warehouse at 15-17 Bond Street in Mordialloc purchased by a neighbour who was looking to expand operations, for $900,000 
</li>
</ul>
“From strong auction results in the last few months, we have buyers who missed out still waiting for opportunities to arise and fulfill their requirement,” he says. 
“We are seeing a real shift of enquiry from leasing to purchase, due to the affordability of cash and a long term desire to own within this dynamic and localised market place.”
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lschlesinger-FZcF9M3vE6

Melbourne bayside warehouses below $1 million are in demand

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The premises of Browns Bakery on Church Street in Brighton have sold to a local investor for a record $3.2 million at auction following a battle between seven bidders.
The final price for the 46a Church Street property represented a yield of just 2.6% with around 150 people in attendance at the on site auction.
It is believed this is the highest amount paid for a single-fronted property in the street, and may be the lowest sale yield achieved this year for a retail shop in Melbourne’s major shopping strips.
The property was offered for sale for the first time in over half a century, under instructions from executors, sold on behalf of the Ireland family who had owned it for around 50 years.
In October last year, the historic Lygon Street premises of <a target="_blank" href="https://www.propertyobserver.com.au/retail/lygon-street-premises-of-donatis-fine-meats-slices-records-with-emotion-driven-%24289-million-auction-sale/2012103057521">Donati’s Fine Meats in Carlton sold for $2.89 million at auction</a>, with a private investor paying nearly $1.4 million above pre-auction expectations for the trophy inner-Melbourne retail asset on a yield of around 2.3%.
The previous highest price paid on the retail strip was 93 Church Street, the premises of Rock Shop Clothing, which sold Mark Talbot for $2.99 million in September 2010 and included a separate first floor apartment.
Fitzroy's agent Mark Talbot handled the marketing campaigns of both properties.
The building stands on a 154 square metre site with total building area area of 179 square metres.
The property is leased to Browns Bakery on a three year deal with a further three-year term, currently returning $86,357 plus outgoings and GST.
Talbot says several shops of a comparable size within the immediate vicinity were currently returning rents circa $120,000 per annum plus outgoings and GST,which helped underpin the value of the offering.
“The recent sale confirms Church Street, Brighton as arguably the best, if not the best, retail strip in Melbourne,” says Talbot.
“To achieve a sale price reflecting a yield of only 2.6% shows that investors are willing to acquire prime property, even if the rent is below market rent.
“Earlier this year we saw the deli that adjoins the iconic Pantry sell for $2.9 million,returning $115,000 per annum, but to achieve $3.2 million for a shop only returning $86,000 demonstrates our ability to achieve a maximum sale result for our client.”
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Investor pays record $3.2 million for Brighton Street bakery premises on 2.6% yield

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Law firms continue to play a major role in taking up prime Sydney CBD office space with law firm DLA Piper signing a lease agreement covering 6,000 square metres of office at Charter Hall's 1 Martin Place office tower.
DLA Piper will occupy five floors in the high-rise tower on a 10-year lease term in one of the largest office leasing deals in the Sydney CBD signed this year.
The 24-level A-grade office building is jointly owned by the No.1 Martin Place Trust and Charter Hall.
Martin Place will serve as the Sydney headquarters for the law firm, which will move in mid-2014.
It currently leases level 38 at 201 Elizabeth Street.
The law firm merged with Phillips Fox in January 2011 to create the largest Australian-based law firm.
Charter Hall joint managing director David Harrison says there has been "significant leasing activity in the Martin Place precinct over the past 18 months as tenants refocus on the considerable benefits of operating out of high quality buildings, located in the heart of the CBD, surrounded by customers and clients".
The lease comes as the most recent Knight Frank Asia-Pacific Law Firm Review found that international law firms are reacting to market opportunities and changing regulatory environments to expand their presence in the Asia Pacific region.
According to the report in the past Sydney law firms "generally clustered around the courts and legal precinct".
"However following legislative changes and a consequent change of focus towards more corporate or commercial law, more firms have moved closer to their clients in the “Core” and into quality Grade-A/Premium grade office buildings.
"The increasing competitive pressure from international firms has manifested in a flight to quality, with the legal sector proving to be the most active sector of the market by transaction volume," says Knight Frank.
Recent law firm lease deals include Corrs Chambers Westgarth leasing 8,000 square metres at 8 Chifley Square from the third quarter of 2013 and law firm Ashurst leasing 14,000 square metres at 5 Martin Place.
<img height="167" width="470" src="/images/stories/2013/law_firms.jpg" alt="law_firms">
<div>Source: Knight Frank</div>
<div></div>
DLA Piper was represented by Michael Kearins, director of Cushman &amp; Wakefield’s occupier services business.
The leasing of No.1 Martin Place is being managed by CBRE’s James Patterson and Jenine Cranston in tandem with Greg Fisher and Mark Semple of DTZ.
“We are in a competitive leasing market at the moment with tenants focussing on high quality," says Patterson.
In the past 18 months, tenant commitments for the Martin Place precinct have exceeded 60,000 square metres of space.
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DLA Piper signs 6,000 square metre Sydney CBD lease amid surge in law firm activity

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A continued fall in the Australian dollar could discourage Asian developers from buying up development sites and undertaking new apartment projects, property consultants MacroPlan Dimasi have warned.
The argument is counter-intuitive to the traditional notion that a weaker Australian dollar makes it cheaper for foreign investors to buy Australian real estate.
However, according to MacroPlan chief economist Jason Anderson there could be a hiatus in purchases from Asian developers if there is a “gradual deprecation” of the dollar because they will face the prospect of owning an asset that is declining in US dollar value terms.
“This outcome would lead to delays in project commencements and lead to a leg down in apartment building,” writes Anderson in MacroPlan’s latest e-newsletter, reports The Australian Financial Review.
However, he also acknowledged that a weak dollar would benefit Asian investors who have bought Australian apartments off-the-plan and are yet to settle their purchases, reducing the risk of defaults.
The Australian dollar peaked at $1.11 against the greenback in July 2011 and remained mainly above parity until the recent fall in early May sparked by the cash rate falling to a 53-year-low of 2.75%.
It fell to below 96 cents this week but is currently trading up at around 97.5 cents ahead of today's cash rate announcement.
Property consultants Charter Keck Cramer estimate that offshore developers will account for around 39% (4,700 apartments) of new apartments being developed in Melbourne’s central City region over the next three years.
This compares with offshore developers accounting for just 8% of new apartments between 2000 and 2012.
Asian developers have been spurred into developing new apartment projects in Australia on the back of surges in Asian students coming to Australia combined with more restrictive lending practices in their home countries and low Australian interest rates.
<a target="_blank" href="/news">Recent research by Jones Lang LaSalle</a> suggested the Australian dollar is less of a factor than some believe in encouraging offshore investors to buy Australia’s commercial property.
Jones Lang LaSalle found that funds poured into Australian commercial real estate when the Australian dollar was well above parity against the US dollar in 2012, rather than discourage investors.
This suggests that the opposite could happen if the Australian dollar falls – or perhaps that the Australian currency is less of a factor in commercial real estate as it may be in residential investment.
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Falling Australian dollar could discourage Asian apartment developers: MacroPlan Dimasi

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Sales of existing homes in the ACT may rise over the next three months while new home sales activity will most likely fall over this period, following housing grant changes announced by the ACT government as part of its 2013-14 budget.
From September 1, first-home buyers (FHBs) in the ACT will receive $12,500 if they buy or build a new home or buy one that has been substantially renovated (subject to changes to the FHOG Act currently before the Assembly).
FHBs planning on buying an existing home have a little under three months to obtain the existing $7,000 grant, which now expires on August 31.
Combined with substantial stamp duty savings under the Home Buyer Concession Scheme (HBCS) - available to both first-home buyers and non-first-home buyers and which is to be continued, a first-home buyer in the ACT could save around $28,500 (including around $16,00 in stamp duty savings) if they buy a new home from September 1 for under $425,000.
However, the three month delay in implementing the new $12,500 grant scheme may result in a drop in new home sales until September 1 as FHBs thinking of buying a new home wait to access the new grant.
It may also artificially inflate sales of existing houses and apartments as first-home buyers rush to finalise their purchases before the $7,000 grant expires on August 31.
While the ACT government says the initiative is aimed at improving affordability, it could push up existing house and unit prices as vendors lift their asking prices given the likely increased demand.
House and land developers and apartment developers could also factor in the higher $12,500 incentive into their prices.
The ending of the existing $7,000 grant, the launch of the new $12,500 grant and the extension of the HBCS was revealed ahead of the ACT budget, to be announced today.
It will bring the ACT in to line with NSW, Queensland, Victoria, Tasmania and South Australia, which are all incentivising the purchase of new homes, whilst removing incentives for existing homes in moves aimed at helping the struggling residential construction sector.
Earlier this month the Tasmanian government announced that from July 1, <a target="_blank" href="/news">Tasmanian first-home buyers</a> who build or buy a new home (including off-the-plan) will be entitled to a $7,000 FHOG, while those buying an existing home will receive no grant.
The ACT Home Buyer Concession Scheme that was due to expire on June 30.
The scheme offers stamp duty concession to first-home buyers and anyone else purchasing a new home or residential vacant land under certain thresholds.
From 5 June 2013, the income test will be further increased from $150,000 to $160,000 per household.
Under this new initiative 70%of Canberra households will be eligible for the concession against this criteria.
Properties worth under $425,000 will only pay $20 – a saving of around $16,000.
Properties between $425,000 and $525,000 will pay a discounted duty.
From September 1, a purchaser can also be eligible for both the $12,500 handout plus the stamp duty concession.
“For example, an eligible first home buyer who purchases a house and land package worth $415,000 will pay only $20 in stamp duty and will receive a $12,500 cash payment,” says the ACT Revenue office on its website.
The ACT government also announced changes to its Land Rent Scheme, introduced in 2008 to increase access to affordable home ownership by allowing households to lease a block of land on an ongoing basis rather than incur the costs of purchasing the land at a discount rate of 2% (subject to eligibility criteria), and a standard rate of 4%
From October 1 the scheme will be retargeted towards low to moderate income households who meet the eligibility criteria for the discount rate.
From this date, the standard rate will no longer be available to new entrants to the scheme.  However, those already participating in the scheme at the standard rate will be unaffected by this change.
 
<hr class="system-pagebreak">
These are the key dates first-home buyers need to diarise:
All dates correct as of June 4 2013.
June 5, 2013 - ACT
From 5 June 2013, the income test  for the Home Buyer Concession Scheme will be further increased from $150,000 to $160,000 per household. Under this new initiative 70%of Canberra households will be eligible for the concession against this criteria. Properties worth under $425,000 will only pay $20 – a saving of around $16,000.
June 30, 2013 - Victoria
The date the Victorian government ends its $7,000 first-home owner grant. The grant is available if the price of the property or construction of the home does not exceed $750,000. An exception to this requirement is where the contract relates to a home that is on, or to be built on, primary production land.
June 30 2013 - South Australia
The $8,000 Housing Construction Grant (HCG) will expire on June 30. It applies to contracts entered into between 15 October 2012 and 30 June 2013, or in the case of owner builders, where construction commenced between 15 October 2012 and 30 June 2013. A property value cap of $450,000 applies.
July 1, 2013 – Victoria
The start of the $10,000 grant in Victoria for newly constructed homes. In addition, the state government will also increase stamp duty cuts of 40% for all first home owners (including those buying existing homes) for homes valued up to $600,000. The combination of a $10,000 first-home owner grant and 40% stamp duty cut means that Victorians buying a newly constructed first home for $400,000 will save over $16,500.
August 31, 2013 – ACT
The $7,000 first-home buyer for existing home purchases ends.
September 1, 2013 – ACT
First-home buyers (FHBs) in the ACT will receive $12,500 if they buy or build a new home or one that has been substantially renovated.
January 1, 2014 - NSW
The $15,000 grant for first-home owners who purchase or build a new home in NSW valued at up to $650,000 will reduce to $10,000 from this date.
June 30, 2014 – Tasmania
Up until this date, Tasmanian first-home buyers of established homes are entitled to a $7,000 grant. From July 1, 2014, the grant is only available to those who buy or building a new home, including off the plan and house and land packages.
June 30, 2014 – South Australia
Up until this date, South Australian first-home buyers of established homes are entitled to a $5,000 grant. From July 1, 2014, no first-home owner grant is available to purchasers of established homes.
June 30, 2014 – South Australia
Stamp duty concessions for first-time buyers who purchase an apartment off the plan in the Adelaide CBD will end on this date. The scheme is available on the transfer of a new CBD apartment or a "substantially refurbished apartment" for a contract entered into from May 31, 2012, to June 30, 2014, capped at stamp duty payable on a $500,000 apartment of $21,330. 
June 30, 2014 – Tasmania
The $8,000 First Home Builder Boost Scheme grant available to Tasmanians building a new home (including off-the-plan) if the qualify for the first-home owner grant will end on this date.
September 1, 2014 - Victoria
All first home buyers (whether purchasing newly constructed or established homes) will benefit from a 50% stamp duty concession for homes valued up to $600,000.
June 30, 2016 - South Australia
Partial stamp duty concessions for first-time buyers who purchase an apartment off the plan in the Adelaide CBD will end on this date.
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ACT lifts first-home owner grant to $12,500 but for new homes only from September 1

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As the budget headlines fade I think there are some long-term challenges that will impact the frame of mind of many people in the housing market, in particular the first time and first level trade-up buyers.
Although the federal election is still four months away some key aspects of the budget are going to linger.  We are going to hear a lot about the budget deficit and this fact alone may help to deflate some areas of demand. Our market does not like dodgy news.
Falling government revenue will limit activity
The budget highlights a big fall in tax revenue and there is now constant talk of financial restraint and combined with more job losses consumer confidence is already slipping.  Jobs are being lost on many fronts and with cuts to the federal public service looking certain under the coalition, even if the cuts are achieved by natural attrition, higher levels of unemployment will impact the housing market.
Still if we see home loan rates fall even further, that alone will not be enough of an incentive to tempt big numbers of first-time buyers back into the market, because the market is very sensitive to unemployment.
Over the last 12 months we have also seen direct government incentives either withdrawn or scaled back and while individual developers might still offer incentives, they may be less inclined to do so in a tight market. The FHB market has gradually fallen away as incentives have disappeared and incentives did not really boost supply.
Lower interest rates and higher unemployment
Since home loan rates peaked in 2008 we have seen a downward trend taking many rates to comfortably below 5%, and they may well fall further. But that will be a mixed signal to the market.
At the same time we have also seen unemployment rates move from a very tight labour market at around 4% to a range over 5% and edging towards 6%. The rate has been trending upwards, even if slowly since mid 2012. A rise from 5% to 6% is a big rise of more than 16% – its not the headline rate but the increase that is the big indicator as well as more subtle shifts away from full-time employment.
The same applies to interest rates, if you have a drop of 25 base points when home loan rates are close to 5% that’s a considerable cut by comparison to a similar cut when rates are at 6.5%. The budget does not contain measures that appear to have the immediate potential to encourage more employment and that’s a reality that will impact the housing market.
The GST debate
One item post budget policy that has received a fair amount of attention is a possible future change to the GST, albeit after the next federal election in 2016. That review is bound to add pressure for wider reform, but will it?
From many comments published here, not only my views but those of others in the industry, any GST review must be tied to a reduction or removal of property related stamp duties even more so if the rate jumps.
On the surface there is plenty of room for that to happen. If GST goes from 10% to 12.5% (as it currently is in New Zealand) then that would raise $12.5billion for the states. That sort of revenue boost might hopefully lead to better services but also to better infrastructure planning, but we need a more direct dividend.
A possible higher GST rate does have to impact stamp duty otherwise affordability will continue to decline, a tax on a tax looks a very poor outcome when you consider the burden of stamp duty. Sydney now has 100 suburbs with house prices over $1,000,000 and this is leading more people, and this includes families, to look at apartments as a good option and so designs and facilities are having to respond to this shift in demographics.
Marketing hurdles
The content of the budget will impact employment, and economic growth is clearly going to slow. We need to be responsive to and anticipate the consequences for the housing market and how to adopt our marketing and product mix accordingly.
I think some of the key points will include the reality of a more conservative and cautious local buyer. This may make offshore buyers more important as targets for some projects and in particular larger inner-city projects, it’s a trend that is already well established in Sydney and Melbourne with a slant towards the upper-end of those markets.
I also believe that a tighter housing outlook will have buyers looking very hard at key facilities and how well a location stacks up with transport and access to employment. Buyers are going to be thinking more about their total household budgets and lower home loan rates will only be part of their calculations, high transport and poor services will be negatives.
One final impact is that buyers will continue to do their homework in ever more detail and they may well take longer to commit to a project, this is already a trend. Buyers in 2013/14 may well be far less influenced by their hearts, and much more by their heads. And even as affordability is getting better, thanks to low interest rates and relatively stable house prices the realities of the local economy have been brought into focus by the budget.
Some of the impacts, like tighter spending are going to have a direct short-term impact, while others like planned infrastructure spending and the GST debate are going to be long-term influences that will sway market sentiment.
Peter Chittenden is managing director for residential of <a href="https://www.colliers.com.au/Colliers%20Corporate/Residential.aspx" rel="nofollow" target="_blank">Colliers International.</a>
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The real estate implications of the federal budget: Peter Chittenden

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I met a bloke at the Brisbane Home Buyer and Property Investor Show who once owned 30 units and 16 houses in Greenvale, which at the time was a boom mining town.  
Greenvale, 220km north-west of Townsville, had a nickel mine with ore carried by train to a processing plant at Yabulu between 1994 and 1993. When the mine closed down and the rail tracks were removed, the town’s population dropped from a peak of 3,000 to around 150.  
The chap at the Home Show was fairly philosophical at having to sell off his 46 Greenvale properties at tiny prices.  
But I wonder why an investor would buy so many properties in one location, particularly a location so dependent on one business.  
It’s surprisingly common for investors to try to corner the market in a single town by buying multiple properties. One investor bought dozens of houses in Moranbah, the coal mining town in central Queensland, a market where rentals have since halved and prices are falling because downsizing by major miners has left the town littered with empty rental properties.  
I often meet people who own multiple investment properties, but all in the same city or town. This “all your eggs in one basket” approach is dangerous.  
Having a geographical spread makes sense for many reasons.  
One of the fundamentals I try to make clear whenever I speak to audiences, including at the Brisbane Home Show last weekend, is that there is no such creature as “the Australian property market”. There are many thousands of markets, moving in various directions and at various speeds, because local circumstances are often more influential than the underlying national factors.  
Last year many markets recorded double-double price rises, while others rose more moderately, some fell a little, and a few fell a lot. It’s like that in most years. The last time there was a property boom that encompassed pretty much the whole nation was in 2003/2004.  
If an investor owns six properties in Hobart, they’ll be hurting right now because that city is the capital of the recession state and remains mired in a downturn.  
On the other hand, an investor with six properties – one each in Hobart, Sydney, Melbourne, Darwin, Perth and Brisbane – will be feeling a lot happier with the world, because most of those cities have rising markets, including two or three with very strong upturns under way. The well-performing properties will more than counter-balance the one that’s struggling in Hobart.  
Plenty of investors piled into the Gladstone market in the past 2-3 years and bought multiple properties. Others have done the same with Mackay. Both markets are declining, as vacancies rise on the back of over-building by over-keen developers.  
Both cities have big futures but in the short-term investors with multiple properties are having to drop their asking rents – by as much as $150 a week – to secure tenants.  
Far better to have bought one property in Gladstone and made investments in other parts of the country. There’s no shortage of growth markets across the nation.  
Another good reason to diversify geographically is the impact of land tax. Anyone who buys multiple properties in one state or territory will quickly find themselves forking out thousands in land tax every year.  
Terry Ryder is the founder of <a target="_blank" href="https://www.hotspotting.com.au/">hotspotting.com.au</a>
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Smart investors diversify across Australia's many different property markets: Terry Ryder

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The issuing of the <a href="/news">first two significant investor visas</a> to wealthy Asian investors has generated a seemingly disproportionate amount of press coverage amid claims that the program could deliver significant benefits ranging from funding key NSW infrastructure projects to stimulating the prestige end of the property market and creating a whole new class of managed investment products.
Some estate agents operating at the prestige end of the Sydney and Melbourne markets are talking about the impact the visa will have on sales and prices while property listings websites are attributing large spikes in searches for Australian property <a href="/news">in part to the ‘SIV-effect’</a>
Macquarie Bank has launched a new investment fund specifically targeted at providing SIV-qualifying investment options while <a href="/news">property fund manager Centuria</a> says all its new syndicate investments now qualify as part of the program.
But aren’t we getting a little ahead of ourselves?
Firstly, it bears mentioning again that just two visas have been issued to date - the first to a Chinese toy manufacturer who made a $5 million investment in Victoria state bonds - with Department of Immigration seemingly in no hurry to approve applications despite a pipeline of more than 400 applications.
At last count there were 222 invitations issued to investors, 212 of them to Chinese investors.
To qualify for a visa, offshore investors must commit to invest $5 million in complying investments.
These include Commonwealth, State or Territory government bonds, ASIC-regulated managed funds with a mandate for investing in Australia; and direct investment into Australian proprietary companies.
Direct property investment does not qualify – an investor cannot buy a $10 million mansion on Sydney harbour for example and apply for the visa - but logic dictates that successful applicants will want a place to live and given their wealth, a prestige home will most likely be on the shopping list.
<a href="/news">Dominic Ong, who heads up a new Knight Frank special significant visa team</a> specifically targeting wealthy Chinese investors, says he is showing Asian clients around some of the most expensive Sydney waterfront real estate.
He says they are looking in the $30 million to $50 million price range describing them as “ultra-wealthy Chinese individuals”.
“They want the best properties on the waterfront with a private jetty, harbour bridge view, swimming pool and many car parks.
“They want homes they can use for private functions and for entertaining,” he says.
Ong also says there is strong interest from wealthy Chinese investors in office, shopping centres and hotels (when they can find them) and development land – though none of these investment would qualify on their own for an SIV.
 
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The scheme is being heavily promoted throughout China with the Bank of China recently completing a SIV road show of Chinese cities to spread the word.
Ong says the market response has been “very positive”.
The NSW government has been the most vocal at trumpeting the significance of the scheme for its economy, given that it requires that investors put a third of the required $5 million into NSW Investor Migrant Waratah Bonds – the only state to have such a requirement.
The state bond program is used to fund key infrastructure projects such as new roads and highways with commentators writing that “infrastructure queue jumpers” as some have called them – will pour hundreds of millions of dollars into state coffers, paying for new roads and highways.
NSW deputy premier Andrew Stoner reported in parliament last week that 138 applicants had been nominated by New South Wales for a significant investor visa which if they proceeded to invest would deliver a minimum of $207 million paid into Waratah bonds.
“That is more money for WestConnex, upgrades to the Pacific and Princes highways and the Bridges for the Bush program,” he said.
Were all these applicants to be granted visas, then around $200 million in funds would indeed flow into NSW coffers – but that’s a pretty big ‘if’ and "when".
Other reports have talked about an apparent upper-end expectation of 400 visas being granted per year in NSW alone once the program is in full swing.
The Department of Immigration has made public statements about how many visas it expects to issue and given the slow progress to date, 400 a year in NSW seems wildly optimistic.
Certainly though, the overall importance of Asian and other foreign investment has been building for some time as seen in recent shopping centre purchases like the $400 million spent by a Korean pension fund for a half-stake in the <a href="https://www.propertyobserver.com.au/retail/gpt-confirms-sale-of-half-stake-in-erina-fair-shopping-centre-to-asian-interests-for-%243971-million-thegptgroup-jllnews/2013052061487" target="_blank">Erina Mall shopping centre on the Central Coast </a>and numerous other transactions and projects.
Andrew Stoner revealed in the same parliamentary budget update that he had just met with the Commonwealth Bank's head of institutional banking Ian Saines, David Jones chief executive officer Paul Zahra and China UnionPay chairman Su Ning to launch a partnership that will see all 170,000 Commonwealth Bank merchant terminals across Australia accept China UnionPay cards.
“This is a wonderful thing for the increasing number of Chinese tourists visiting Australia, Chinese students and business visitors to our fair shores who use China UnionPay cards,” Stoner said.
For its part, David Jones stores will now accept UnionPay credit cards.
All of this points to expectation of a rise in Chinese investor interest across all spheres of the Australian economy from business to farms to hotels to prestige real estate.
This is clearly happening. 
But as to the impact of the significant investor visa program, it has been largely non-existent to date.
Too many unknown factors remain for anyone to be certain just what kind of impact it will have over the medium and long-term.
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More hype than reality: Significant investor visa “queue jumpers” yet to be significant

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Conveyancing is the legal transfer of a property’s title from the seller to the buyer. It is important that buyers research who they wish to use for conveyancing when they have a contract of sale on a property.
The Real Estate Institute of Queensland recommends the use of a qualified solicitor to undertake the conveyancing process.
Using a solicitor is important as they understand the laws and procedures involved with facilitating a property transfer including, payment of stamp duty, conducting searches and attending to mortgage related matters.  Using a solicitor who understands the process provides peace of mind when making what may be the largest single financial transaction of your life.
Costs associated with conveyancing include title searches, transfer duty, registration fees and solicitor’s professional fees.
Searches undertaken as part of the conveyancing process will usually include zoning, rates and outgoings and body corporates record searches where the property is a unit.
Local government searches have become important in the conveyancing process to determine how an area will develop in the years to come. They ensure major changes like new freeways and major road upgrades are not planned for the backyard of the property you are purchasing.
Searches for zoning and titles can also determine whether the property has any restrictions such as adverse planning, demolition orders, outstanding taxes or encumbrances on the title (for example, easements or caveats).
Most of these searches are standard in the conveyancing process but are often overlooked when buyers elect to do the conveyancing themselves.
It is important to understand the different roles that real estate agents and solicitors play in a residential real estate transaction.
A real estate agent, as the agent of the seller not the buyer, is responsible for obtaining the best possible price and contractual terms for the seller. The agent will receive a commission from the seller when the property is sold.
A solicitor will advise on the fairness of the proposed contract and whether or not to sign the contract as it stands. A solicitor may also suggest the inclusion of special conditions in the contract.
The REIQ always recommends that buyers contact the Queensland Law Society for details of qualified solicitors to conduct the conveyancing for their property purchase.
Pamela Bennett is chair of the <a href="https://www.google.com.au/url?sa=t&amp;rct=j&amp;q=&amp;esrc=s&amp;source=web&amp;cd=1&amp;cad=rja&amp;ved=0CD8QFjAA&amp;url=http%3A%2F%2Fwww.reiq.com%2F&amp;ei=XiesUbi2D-6jigfV_YGYCw&amp;usg=AFQjCNHYDAxb-XTUgP3_VCgg96FpGRR9gw&amp;bvm=bv.47244034,d.aGc" target="_blank">Real Estate Institute of Queensland</a>.
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