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“Minister Chanthivong and his team have shown real leadership in replacing an outdated two-year bond with cover that matches the lifespan of the buildings people are buying into.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 recent times, the entire retail sector has been hit on two fronts, with local traders challenged by both the highest-rated in dollar, and weakened global economic conditions.
Plus, you've also seen a structural shift in how modern consumers are choosing to engage in the market, with the continued growth of online purchases.
The effect of global uncertainty
Global economic weakness and financial uncertainty have been hurting discretionary spending, as consumers also adopted a more defensive attitude. As such, they have substantially increased savings to buffer against high debt levels and declining consumer sentiment.
Consequently, household savings (as a percentage of disposable income) have remained elevated since the 1990s. While consumer sentiment still remains somewhat subdued, with many households continuing to de-leverage.
Despite all of this, retail sales growth has stabilised and improved marginally through 2012. And has shown some improvement during the early part of this year.
Nonetheless, retail rentals have been in decline. At the same time, larger retail outlets have looked to revitalise their stores as a point of difference, to help attract more consumers.
Homewares likely to move first
With the continued improvement in the housing market, the Bulky Goods sector will probably drive new development. Whilst neighbourhood and local centres have been able to hold their own, due to less reliance on discretionary spending.
In the short term: retailing will depend upon consumer sentiment and the stability of the global economy — with the labour market and international economic conditions the key to making sentiment more favourable for retailers.
With a possible increase in unemployment (albeit marginal), and softening conditions within China, there is likely to be some continued headwinds hitting the sector.
In the long run: online retailing remains as the prominent challenge. The segment continues to grow with strength (up nearly 25%, by the end of 2012). But overall, it is still only equivalent to around 5.5% of traditional retail turnover.
Online retailing has significant potential to grow. As technology improves and demographics shift to a more tech-savvy customer … bricks and mortar retailing will clearly need to find the ways and means to adapt.
Bottom line: as a commercial property investor, you need to remain wary.
Without having rather extensive experience with retail property, you'll find it hard to pick the next upward trend with any certainty.
David Morton is executive director at <a target="_blank" href="https://www.charterkc.com.au/">Charter Keck Cramer</a>.
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Retail's patchy performance continues: David Morton

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Melbourne house values fell by 1.14% over April to a median value of $556,500 to be up 2.05% over the quarter, according to the latest figures from property market analysts Residex.
RP Data-Rismark also had Melbourne house prices down over April, but by a smaller 0.5%. 
Meanwhile, constrained by a lack of affordability, Sydney recorded the steepest fall in its median house value in April of all the major capital cities and regions, according to Residex.
Sydney house values fell 1.42% over April to a median of $684,000.
Over the quarter Sydney house values are virtually unchanged at 0.84%. They are up 3.23% over the past 12 months.
The decline in Sydney house prices went against the overall trend of an 0.83% rise in house values over April to a median of $437,000 with Residex forecasting a "moderate" rise in housing values over the coming months off low interest rates.
Residex has house values up 2.07% over the quarter and 2.8% over the past year.
Click to enlarge
<a rel="shadowbox" href="/images/stories/2013/05/residexmay28one.gif" title="Click to enlarge"><img src="/images/stories/2013/05/residexmay28onethumb.gif"></a>
RP Data-Rismark recorded a 0.6% decline in house values over April with its <a target="_blank" href="https://www.propertyobserver.com.au/residential/autumn-blues-as-dwelling-values-dip-again-in-may-rpdata-timlawless/2013052661671">daily index pointing to a 1% decline over May.</a>
According to RP Data-Rismark, Sydney house prices fell 0.4% over April.
Residex CEO John Edwards says Sydney's unaffordability makes it “overly sensitive to changing economic conditions” resulting in negative growth in April.
According to Residex affordability figures, Sydney home borrowers are left with just $880 in left over cash each week once the home loan is paid off (assuming a variable home loan rate of 5.4%, 25 year loan term pa, average family tax rate of 17.5% and a 20% deposit).
The other capital city market to record a decline was Canberra, with house values down 1.12% over April to a median value of $519,500, down 0.56% over the quarter, according to Residex.
RP Data-Rismark had Canberra house prices down 0.6% over April.
 
<hr class="system-pagebreak">
The positive effects of the mining boom continued to be felt in Perth and Darwin, according to Residex.
Perth house values lifted 1.37% over April to be up a healthy 4.5% over the past three months with a median value of $503,000.
Darwin house values rose 2.41% over April and are up 3.78% over the quarter with a median house value of $550,000.
Over the past 12 months to April 2013, Darwin house values are up 12.41%, the only capital city property market to record double-digit growth annual growth. Darwin’s ten year average growth rate is 10.49%.
Brisbane house values rose 1.42% in April to a median of $437,500 while Adelaide and Hobart values were unchanged.
In the more volatile unit market, Perth was the standout over April with a 2.62% gain to a median value of $448,000.
Over the past year, Perth unit values are up 11.46% with rents rising over 14% over the past year from $390 to $445 and annual sales up 24.57% compared with the corresponding period, according to Residex.
There were also strong gains recorded in Adelaide’s unit market (2.12%) and some growth in Brisbane’s unit market (1.3%).
Click to enlarge
<a rel="shadowbox" href="/images/stories/2013/05/residexmay28two.gif" title="Click to enlarge"><img src="/images/stories/2013/05/residexmay28twothumb.gif"></a>
"Overall, the Australian housing market is improving," says Edwards.
"While I don’t favour considering houses and units as one segment because they have very different return attributes, it is usefully to combine them to simply get a general indication of the direction the market is heading.
"The median value of all dwellings in Australia is approx $425,000, which is around its peak value achieved in January 2011.
"In the last 3 months dwelling prices increased by about 1% while they increased by approximately 1.7% in the last 12 months. Clearly, the majority of advances in the market have taken place in the last three months. Sales activity remains low but it is improving. It is now close to the level achieved in December 1999.
"Overall, the recent interest rate reduction will help ensure the advance in housing values that are currently being seen continues, albeit at a moderate level.
"Rental yields across the nation are rising and will continue to do so as fewer people venture into home ownership and renting becomes more the norm. 
"The only exception to this is Canberra where there is a stock oversupply. There must also be some uncertainty here towards the employment level given the pending Federal Election and the likely outcome of a change in government," he says.
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lschlesinger-FZcF9M3vE6

Melbourne median house price at $556,500 as April sees slight decrease in home values: Residex

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The amount of sublease space available in Sydney's CBD reached 73,872 square metres in April, the highest in two-and-a-half years, as financial services firms downsized their operations.
'Consolidation' or 'contraction' were the primary reasons for subleasing space with finance and insurance firms accounting for nearly 40,000 square metres of available sublease space followed by property and business services (around 10,000 square metres) and government tenants (10,000 square metres)
More than half the sublease space available (52%), is situated in the city core.
The increase in sub-lease space is highlighted in CBRE’s latest Sublease Barometer, which tracks both the volume of sublease space and the trends occurring within different industry groups and market sectors in the Sydney CBD.
This upward trend is expected to negatively impact the city’s overall office vacancy rate in 2013, currently at 6.5% according to Morgan Stanley.
Examples of available sublease space include more than third of the space at<a target="_blank" href="https://www.realcommercial.com.au/property-offices-nsw-sydney-500690839"> Investa's  20 storey 347 Kent Street</a> building, the headquarters of ING Australia. It features 27,000s square metre of space, of which more than 9,000 square metres is available to sublease across eight levels. Sublease spaces range from 500 square metres to 1,4000 square metres with rents of between $500 to $600 per square metre excluding GST.
Other tenants subleasing space include Perpetual, State Street and ANZ Bank, which is relocating to its new headquarters at the $800 million 161 Castlereagh Street tower being completed by Grocon.
The decision by firms to downsize has meant that much larger sublease tenancies are being made available, with the barometer showing that tenancies greater than 1,000 square metres account for 70% of all options.
<img height="196" width="470" src="/images/stories/2013/05/cbremay28one.jpg" alt="cbremay28one">
The report shows that there are currently six options available at present of greater than 2,000 square metres which combined account for 38,000 square metres of sublease space.
The last time the sublease volume was higher was in November 2009, when the quantum of sublease stock was close to 90,000 square metres.
The CBRE barometer shows that the level of sublease stock dropped considerably throughout 2010 and 2011 but has been tracking higher since late last year and over April the volume of sub lease stock increased by a further 1.52%.
In December 2011, available sublease space was under 40,000 square metres.
CBRE office services director Jenine Cranston attributes the increase in sublease space in recent months to financial service tenants shedding more space in further rounds of downsizing.  
“The consolidation of financial tenants continues to have a strong influence on the sublease market and is contributing to the increase in the number of larger sublease tenancies,” she says. 
“The finance and insurance sector presently accounts for around half of both the number of sublease opportunities and the quantum of floor space available, with property and business services also accounting for a high proportion of stock compared to other industry sectors.” 
Cranston says one alleviating factor for owners was that the majority of sublease options did not have quality, useable fitouts in place – something that a growing number of cost conscious tenants were requiring. 
“This said, the increase in sublease stock has undoubtedly put an upward pressure on incentives across the city. During the year we expect to see a number of sublease opportunities converted into direct space if it remains in the market. However, if this upward momentum in sublease space continues, this may negatively impact overall vacancy in 2013," she says.
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Sydney CBD sublease space hits 74,000 square metres as finance firms downsize: CBRE

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At some point, your commercial tenant will simply move on. It just happens from time to time.
Therefore, what we'll do here is explore some creative ways to address this and still maintain your sanity, at the same time.
But no matter which approach you adopt, there are several things you always need to do.
1. Obtain (or compile) a list of potential tenants to target.
<ul>
<li>
This may be by geography (i.e. businesses located in the surrounding area); or
</li>
<li>
It may be by business category (i.e. types of businesses you feel your property would ideally suit)
</li>
</ul>
The geographical approach is best suited to industrial property.
In which case, you simply get in your car and drive around the nearby streets, noting down the firms who occupy premises of roughly the same size as yours.
But what about the list by business category?
As old-fashioned as this may sound, I still tend to go first to a hard copy of the Yellow Pages. Using your category list, you look up those specific business types located in and around where your property is located.
Exactly how many categories, and how far you spread from your property, is up to you. However I would probably be suggesting 8 to 10 business categories, and maybe out as far as 5 km.
In any event, you should be looking to come up with a list of around 300 firms to call. That way (and based upon my 2% success rate), you should then end up with between five and six potential starters.
2. Establish who you should be speaking to.
Interestingly, it's not always the CEO. Sometimes it will be the office manager; other times, the financial control.
You may need to have someone else call up beforehand, to establish exactly who the decision-maker is, so that you can straight away ask to be put through to that person.
Now you've compiled your list of target firms to contact, and identified the key people involved, you may find it helpful to actually role-play a couple of very successful tele-scripts for when it comes to making those "cold calls".
Bottom line: This should give you some fresh insights on how easy it is for you to make your cold calls and be successful, whenever you have a vacancy, even in a tough market.
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

How to find a new commercial property tenant: Chris Lang

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A two-level CBD shop and dwelling at 597 Elizabeth Street has sold at auction for $1.03 million.
The ground floor space is leased for six years to popular Indian food tenant Classic Curry.
It brings in annual income of $53,547 plus GST reflecting an indicative yield of around 5.2%.
Chris Kombi and Mitchell Humphreys handled the campaign.
Located within the Queen Victoria Market precinct, the property is zoned mixed use and has a building area of around 150 square metres, encompassing the ground floor restaurant and a first floor studio apartment.
Classic Curry operates a second restaurant in Sunshine.
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Melbourne curry house and upstairs studio apartment sells for $1.03 million

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The InterContinental Hotel Group (IHG) has plans to build up to 40 Holiday Inn Expresses across Australia over the next 10 years with construction of its first Holiday Inn Express in Perth soon to begin.
The London-based hotel group, which operates nine other hotel brands including InterContinental and Crowne Plaza, manages over 2,000 Holiday Inn Express hotels globally.
‘We are looking at second and third tier cities for future Holiday Inn Express location rather than build four and five star hotels,” Phil Kasselis, head of development in Australasia for IHG, tells Property Observer.
The group will consider developing future Holiday Inn Express hotels in Newcastle, Wollongong, Geelong as well as in locations in the capital cities where the government is looking to develop new hotels.
The <a href="https://www.propertyobserver.com.au/leisure/perth-to-get-first-holiday-inn-express-as-city-occupancy-rate-hits-85/2013032760099" target="_blank">224 room Perth Holiday Inn Express</a> to be built at 257 Adelaide Terrace, overlooking the Swan River, is due for completion in 2015.
Site works are due to commence in the third quarter of the year in partnership with Perth-based developer Sunfire Asset.
Holiday Inn Expresses are targeted at “savvy business and leisure travellers” within the “limited service mid-market” sector with IHG opening on average two new Holiday Inn Express hotels ever week around the world.
IHG typically partners with investors to build or develop new hotels, and operates them as managers or under a franchise agreement.
In Australia, IHG tends to manage its own hotels, but is looking at implementing a franchising model.
Investors typically include institutional investors and high-net-worth individuals.
“We describe our typical [Holiday Inn Express] guests as Everyday Heroes – they are independent, self-sufficient and they believe in working hard so they can enjoy life,” says the Holiday Inn Express investor brochure.
The chain is promoted with the tagline “Everything you need. Nothing you don’t” as well as through a series of very funny “Stay Smart” television commercials, including this one featuring a white rapper.
{qtube vid:= ZlCLuIwuVgQ}
As part of its expansion plans, IHG has conducted research to identify "emerging traveller identities", which it says will shape the next decade of tourism.
It has identified four types of travellers: 
<ul>
<li>New global explorers from emerging markets, such as China, India, Indonesia, Egypt and Vietnam, who want to follow well-trodden paths and visit the must-see sights of well-known destinations.</li>
<li>Laptop and latte workers – a new breed of business traveller – are young and accustomed to not having set hours or location for work, and are therefore happy to share spaces and mix business with play.</li>
<li>New family groups from both developed and emerging markets, representing the changing face of the traditional family unit, from single person households to multi-generational families booking entire hotel floors.</li>
<li>Expansive mid-lifers are older travellers – the fastest growing and most affluent age group in the world – but don’t want to be defined purely by their age, as they seek out new experiences while demanding services and amenities that suit their needs.</li>
</ul>
Kasselis says hotels need to cater for the current and future needs of customers including obvious things like providing Wi-Fi, but also less obvious region-specific ones like interconnectable rooms in its Middle Eastern hotels to cater for larger family groups.
“Travellers expect hotels to deliver certain things, rather than be surprised by them,” he says.
He says the Australian hotel market has somewhat lagged other first-world markets but is starting to catch up.
He says it is appealing to offshore investors because of its transparency, the ease of doing business and proximity to Asia.
In addition, many investors know the Australian market through personal experience or because their children have studied in Australia.
“There is new money coming into the market from the Middle East and from sovereign wealth funds,” he says.
IHG generates more than $3 billion in sales every year from its half a million hotel rooms.
In Australia, IHG has partnered with hotel developer Jerry Schwartz to develop the Crowne Plaza hotels in the Hunter Valley and Newcastle as well as with Eureka Funds Management on other projects.
Recent projects include transforming the Clarion Hotel in Parramatta into the Holiday Inn Parramatta.
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IHG plans up to 40 Holiday Inn Expresses in Australia as it targets time-poor tech-savvy travellers

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Canberra’s heritage-listed Sydney Building on London Circuit, formerly a Fletcher Jones department store for 50 years, has been passed in at auction.
A spokesperson for CBRE, the selling agents, said negotiations were now underway with interested parties.
The two-storey corner building (pictured below) at 91-99 London Circuit in the Canberra CBD and Northbourne Avenue, was one of the first privately constructed properties in Canberra along with the Melbourne Building, characterised by Mediterranean influenced architecture with Roman motifs, round arch ways, arcade walkways and formal corner entrances with both buildings being situated prominently in the heart of the CBD.
<img alt="fletcherjonesmay29one" height="280" width="470" src="/images/stories/2013/05/fletcherjonesmay29one.jpg">
It offers ground floor commercial space measuring around 300 square metres with 31 square metres of street frontage.
Australian clothing manufacturer and retailer Fletcher Jones formerly inhabited the ground floor for over 50 years, ending its half-century presence in the building after the 93-year-old company went into voluntary administration at the end of 2011.
The first floor comprises four office units accessed via a separate stairwell off London Circuit. Currently two of the four units are tenanted by a psychologist and skin treatment clinic
In November last year a Malaysian investor purchased the <a href="https://www.propertyobserver.com.au/developments/malaysia-based-mammoth-empire-the-latest-asian-developer-to-take-another-piece-of-melbourne-residential-development-pie/2012120658312" target="_blank">Melbourne CBD corner premises</a> occupied for 57 years by Fletcher Jones for $11 million.
The Canberra building has recently become the base of operations for Canberra’s You Are Here Festival which showcases the capital’s experimental arts and culture scene.
Ahead of the auction, CBBRE commercial property agent Patrick Sammon who along with colleague Mark Nicholls is marketing the building, said the property’s historical significance, iconic features and prominent location has sparked significant purchasing enquiries from a range of buyers.
“The property offers wide street frontage, great signage opportunity and the potential for a quality tenant providing further exposure and rental upside for the new owner,” Mr Sammon said.
The property was last sold in 1998 for $2,115,000.

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Fletcher Jones Canberra store passed in at auction

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A key benefit of residential property as an investment asset is its stability relative to other asset classes, such as shares.
Sharemarket values are subject to variations in investor sentiment, fuelled by the actual or predicted performance of companies. When investor sentiment is strong, the sharemarket rises. When it’s shaky, the market falls.
The share market is a daily rollercoaster driven by everyone from mum and dads to professional day traders. I am no share market expert but I know it is no place for the inexperienced or faint hearted. Just look at how volatile one day of trading can be:
<img src="/images/stories/2013/05/armstrongmay29two.jpg" width="470" height="291" alt="armstrongmay29two">
Shares only exist on paper, so they can be created and issued quickly when companies need to raise capital. Investors can also sell them quickly when they need cash flow.  
By contrast, residential property is a physical asset, so it can’t be bought and sold easily. It can take weeks or months to sell a property, and even longer to build one because of land supply and planning restrictions. As a result, there are fewer residential property transactions and more stability in the overall residential market.  
However, the fact that the residential property market is more stable than the sharemarket does not mean you can buy a property in any sector of the market and expect it to show the same level of resilience.  
The proportion of debt relative to the number of owners, and the proportion of tenanted property relative to the proportion of owner-occupied homes, can both influence the stability of the market in particular locations. The more stable the market, the better the prospects for property investment.  
First, let’s look at the issue of debt levels, as illustrated by two Melbourne suburbs. According to the Bureau of Statistics, 76.8% of all owners in the relatively new outer south-eastern suburb of Lyndhurst are paying off debt on their properties. Only 7.6% own their properties outright (the remainder of residents are tenants.)  
There is a stark difference in more established suburbs. In Glen Iris for example only 33% of all owners are paying off a mortgage, whilst 38% of owners have no debt on their properties. The remainder of residents are tenants. With fewer Glen Iris owners paying off a mortgage, they are less vulnerable to interest rate movements than their Lyndhurst counterparts.
Glen Iris and suburbs with similar debt levels represent markets with significant equity. They are a more stable and viable market for property investment even though they represent a much higher price point and they continue to drive property market growth.  
As a result we are seeing massive crowds at auctions for houses in Glen Iris as I experienced on the weekend at <a target="_blank" href="https://www.realestate.com.au/property-house-vic-glen+iris-113684891">14 Madeline Street</a>.
<img alt="armstrongmay29one" height="351" width="470" src="/images/stories/2013/05/armstrongmay29one.jpg">
The property was quoted to sell for over $900,000 and was declared on the market at $1 million. Five bidders were still in the hunt above this level and the property sold for $1.71 million.  
Off the back of this sale a property around the corner in <a target="_blank" href="https://www.realestate.com.au/property-house-vic-glen+iris-113807399">Pascoe Street, Glen Iris</a> that was due to go to auction in a couple of weeks has been sold prior.  
It was expected to sell in excess of $900,000 but with an offer over $1.2 million the owners are taking the money and bolting! 
In the middle of last year I wrote that these areas were the first to bounce back from the property market slump. We are now seeing competition intensify a taking this market to new highs.  
Mark Armstrong is a director of <a href="https://www.ipropertyplan.com.au/">iProperty Plan</a>, which provides independent analysis and tailored advice to investors and home buyers.  
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Residential property is usually a more stable investment than shares: Mark Armstrong

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Mornington Winery Group has collapsed as the wine industry battles against a "double whammy" of high exchange rates and a consolidated retail sector.
John Lindholm and Peter McCluskey of Ferrier Hodgson were appointed as administrators to the boutique winery last week.
Expressions of interest were sought today for the winery, cellar door and restaurant with seating capacity for 110 people.
Mornington Winery Group includes key brands Dromana Estate, Mornington Estate, 'i' Range and David Traeger and has leasehold vineyards of 48.5 hectares with 19.2 hectares currently under vine.
The winery has 500 tonne crushing capacity, 130,000 litres of onsite storage and produces 10,000 cases per annum.
Mornington Winery Group's collapse follows the recent administration of the historic <a href="https://www.smartcompany.com.au/food-and-beverages/053462-historic-winery-collapses-into-administration-2" target="_blank">Buller Wines</a> and <a href="https://www.smartcompany.com.au/food-and-beverages/054408-woolies-looks-to-swallow-collapsed-barossa-valley-winery-2" target="_blank">Barossa Valley Estates</a>.
Paul Evans, chief executive of the Winemakers' Federation of Australia, said it was a tough time for wineries.
"Like most manufacturing sectors with an export orientation we are confronting a double whammy of high exchange rates, which has seen a 30% increase in the price of products against competitors' currencies since 2008," he says.
"Domestically, we are faced with a highly consolidated retail sector and fierce competition amongst producers with the own brands of retailers and increasing numbers of imports."
Evans says many wineries are trying to diversify, as Mornington Winery Group had done, into restaurant operations along with cellar door sales.
"With so much competition domestically, all companies need to find their particular niche and speciality and focus on that," he says.
"The more businesses can drive sales volumes through formats which are high margin, the better off they are, and cellar doors and restaurants are at the top of that risk."
This article originally appeared on <a href="https://www.smartcompany.com.au/" target="_blank">SmartCompany</a>.
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Wine industry struggling as Mornington Winery Group collapses

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Melbourne Heart chief executive Scott Munn has confirmed the soccer club is in talks with former Victory winger Harry Kewell.
Almost a year after family triggered his departure from the A-League, there are reports Kewell could be set for a return to Melbourne having yet failed to attract offers from English Premier League clubs.
"We are keen to sign him, but no deal has been done," Munn told the Herald Sun.
"I'd be lying if I said (coach) John Aloisi hadn't spoken to him, but he spoke to several players while in Europe.
"We believe he'd be a fantastic addition and we need players with a winner's mentality."
Kewell's most recent three-game short stint was with Qatar club Al-Gharafa.
He won't be returning to his former abode as last September Harry Kewell's Brighton townhouse rental was sold for $2.95 million.
The <a href="https://www.propertyobserver.com.au/residential/harry-kewell-reportedly-kicks-off-brighton-rental/2011102452038" target="_blank">Nicholas Day-designed property</a> (pictured below) had a neo-Georgian style house with a mix of the contemporary and classic elegance.
{yoogallery src=[images/stories/october24kewell]}
The townhouse was developed by St Kilda Football Club director John Gdanski and former player Fraser Gehrig.
The Collins Street townhouse had initial $3.3 million price hopes before Kewell and his family lived there while Kewell played with Melbourne Victory.
The Kewells lived there for less than a year, leaving suddenly due in part to family circumstances back in the UK in June 2012 a few months before their 12-month lease expired.
The dispute over the $28,000 unpaid rent was reportedly settled with Melbourne Victory, whose name was on the lease, footing the bill.
It had sold through Buxton agent Brian Devlin and Regina Schmidt.
The dearest Brighton rentals at the moment are around $3500 a week.
<a href="https://www.realestateview.com.au/rental-properties/1-park-street-brighton/Property-Details-rent-residential-5527963" target="_blank">There's a four-bedroom on Park Street</a>.
<a href="https://www.realestateview.com.au/rental-properties/10-kent-avenue-brighton/Property-Details-rent-residential-5521747" target="_blank">There's a James Rigney designed house on Kent Avenue available at $3350 a week</a>.
In October 2011 the soccer champion took occupancy of a $3,250 a week newly built Brighton rental property as his Melbourne base.
The property was briefly marketed by Hocking Stuart as the "finest fusion of style, space and quality."
It reflected an approximate 5.75% yield if the undisclosed, unconfirmed figure was correct.
The Brighton suburb was identified as the preferred location after briefly staying at Crown.
The couple, Kewell and his wife, the soap star Sheree Murphy, had inspected more than a dozen properties in exclusive neighbourhoods starting in Toorak and then in the bayside suburbs.
<a href="https://www.realestateview.com.au/rental-properties/2-226a-kooyong-road-toorak/Property-Details-rent-residential-5346121" target="_blank">Toorak rentals are currently quite thin on the ground with the highest rental being $1800 for a Kooyong Road townhouse</a>.
Fox Sports reports Kewell's signing could be on the minimum wage - just $48,000 in 2013-2014.
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