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“Minister Chanthivong and his team have shown real leadership in replacing an outdated two-year bond with cover that matches the lifespan of the buildings people are buying into.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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US private equity giant Blackstone has reportedly pulled out of its takeover bid for listed property trust Australand following GPT Group’s formal withdrawal yesterday.
Blackstone had put in a bid for the entire Australand business at around a 10% discount to the trust’s $3.46 a security net asset backing, The Australian Financial Review’s StreetTalk gossip column reported.
However, it withdrew its bid via email a few hours after the GPT statement was issued yesterday.
<a target="_blank" href="/news">GPT’s $2.8 billion December offer</a> (StreetTalk quotes a $2.95 billion offer) was for only the non-residential businesses of Australand.
Analysts John Kim from CLSA and Jason Weate from Deutsche Bank continue to back Australand despite the withdrawal of GPT and Blackstone after its share price fell 18 cents to $3.35 (a 5.3% fall) in morning trading today.
The option still remains for a block trade of Singapore-based majority shareholder CapitaLand’s $1.2 billion stake, but according to StreetTalk, this would represent a worse outcome for shareholders than the Blackstone offer and would be difficult to accomplish.
In a statement released yesterday, Australand confirmed that it had been unable to reach agreement with GPT on the sale of its investment portfolio and commercial and industrial businesses that would be a “superior outcome than business as usual”.
It also said it was not in receipt of any formal proposals, but that process had not yet concluded.
Clearly Australand was eager to sell to GPT, but the two parties could not agree on a fair price.
StreetTalk reported that a high-ranking CapitaLand executive flew into Sydney on Monday to try and help thrash out a deal with GPT, but could not get the property group to budge on its offer.
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Australand running out of options as Blackstone joins GPT at the exit gates

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Tasmania has joined NSW, Queensland and South Australia by announcing plans to axe the $7,000 first-home owner grant (FHOG) for established homes on June 30, 2014.
It will coincide with the end of Tasmania's First Home Builder Boost (FHBB) - a payment of $8,000 - on June 30.
From July 1, Tasmanian first-home buyers who build or buy a new home (including off-the-plan) will be entitled to a $7,000 FHOG. Those buying an existing home will receive no grant.
The withdrawal of the FHOG for existing homes was announced by Tasmanian premier Lara Giddins as part of her recent 2013-14 state budget announcement.
Giddins said the $7,000 grant for new homes only would provide "an ongoing stimulus to the building industry and creating jobs in the process".
"This change will bring Tasmania into line with other States such as Victoria, NSW and South Australia while saving an estimated $11 million per annum, which will be used to fund job-creating changes to the payroll tax," Giddins said.
South Australian Premier Jay Weatherill will deliver his state budget on June 6, but the state's revenue office website reveals that the already reduced $5,000 FHOG will end on June 30. The state's $15,000 FHOG for new homes is ongoing.
These are the key dates first-home buyers need to diarise:
All dates correct as of May 27 2013.
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.
June 30 2013 - ACT
The Home Buyer Concession Scheme (HBCS), offering stamp duty concession to first-home buyers and anyone else purchasing a new home or residential vacant land under certain thresholds (<a href="https://www.revenue.act.gov.au/home_buyer_assistance" target="_blank" rel="nofollow">details on the ACT government website</a>), is due to expire on June 30.
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.
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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Tasmania and South Australia to axe first-home owner grants from June 30 2014: key dates to diarise

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Writing about the Australian economy and in particular the resources sector is way too important to be left to newspaper journalists. Somebody competent should be doing it.  
Not a day goes by without an over-rated hack with "editor" in his or her byline - economics editor, small business editor, deputy resources editor, acting deputy rural editor - declaring the resources boom to be over.  
A total of 73 mining, gas and infrastructure projects costing $268 billion are under construction but, according to nine out of 10 journalists who misquoted the Bureau of Resources and Energy Economics, this constitutes the end of the boom.  
Imagine how big it was before it finished.  
Are we so desensitised by the numbers attached to mega projects that proliferate in this country that $268 billion in investment is interpreted as a slump?  
Of course, the BREE report did not declare the end of the resources boom, as many print journalists so dishonestly claimed. When a journalist for The West Australian, Shane Wright, wrote "The resources investment boom is over, a new report has found" he was being inaccurate. That wasn't the finding of the BREE report, it was Wright's own spin on the report content, for the sake of a cheap headline.  
He also stated, inaccurately, that the "figures show for the first time since the boom began that the value of new mining and energy projects is falling". This ignores events around 2008 when the GFC caused many resources projects to be deferred or scrapped. Many journos declared the end of the resources boom then as well - not to mention myriad predictions of recession and double-digit unemployment.  
But, despite the global economic calamity, the resources sector bounced back, stronger than ever. And will do so again.  
The basic message in the BREE report is that an unprecedented $394 billion has been spent developing 390 resources projects since 2003. The great bulk of that is the $268 billion invested in projects currently still under construction.  
Based on the current status of known projects, this will drop to $256 billion by the end of the end and then to $248 billion in 2014.  
If no new projects are announced, and if none of the projects currently rated as "deferred" came back on line, investment will be about $70 billion in 2017.  
A couple of things about that. The $70 billion figure is where things were at in 2007, when it was considered to represent the mother of all booms amid a raging national economy. We've become a little blasé about the enormity of the numbers since.  
But that figure assumes no new events or no resuscitation of projects that have been sent back to the drawing board as mining companies seek to reduce costs - projects like the expansion of Olympic Dam, the Browse Basin gas project and expansion of port facilities at Port Hedland.  
I'm pretty sure that a lot more than $70 billion will be pouring into resources projects in 2017. So too is BREE. The fine detail in its report, overlooked by many journalists seduced by the opportunity to declare the boom over, suggests that 120,000 new jobs could be created in the resources sector in Queensland and New South Wales alone over the next 10 years.  
If all potential projects go ahead, another $270 billion will be invested, creating 80,000 jobs in construction and 40,000 in operation.  
BREE resource manager John Barber says: "The resources boom is progressing. We're turning that investment into projects that will deliver economic benefits such as jobs and revenue to Australian economy for years to come."  
Consulting group Wood Mackenzie has published an optimistic outlook for the resources sector, particularly for oil and gas. It says there is unprecedented spending in this sector and expects it to continue.  
"The outlook for the next three years confirms the strength of the Australian resources sector," it says.  
Wood Mackenzie's Gero Farruggio sees Australia's dominance in iron ore increasing, taking its share of global seaborne trade above 50% by 2016. He also says the resumption of deferred coal projects and the development of new projects will keep resources spending strong through to 2017.  
Wood Mackenzie sees investment in iron ore, gas and coal remaining high for at least the next three years.  
The resources cycle is never smooth but the current boom in Australia, which started a decade ago and has persisted despite the GFC and the fluctuations in commodities prices, will continue to drive the national economy and many of its property markets.
Terry Ryder is the founder of <a target="_blank" rel="nofollow" href="https://www.hotspotting.com.au/">hotspotting.com.au</a>
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terryryder-YECXbqmri2

Newspapers getting it wrong on the never smooth resources boom: Terry Ryder

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Is this a price spike or a stepping stone to a new price level?
There is little doubt that Melbourne's $1 million-plus market has been seeing increased activity either side of Easter, and that its strength is filtering into the $3 million-plus top end in noticeable ways.
The clearance rate for Inner Melbourne and Bayside’s $1 million-plus property was 74% on the 38 auctions we covered. Bidderman, our bidders per auction measurement, was back up at 1.8.
Is this a price spike, after which we go back to “more-normal” market? Or is this a stepping stone on the way to another more sustained “new level” of price?
Interest rates and the dropping dollar certainly appear to be accentuating the increased demand at the top end. We have had minor but noticeable increases in enquiry from overseas clients.
In Malvern, an expat is believed to have bought 4A Mayfield Avenue via an expression of interest. This property was on the market quietly late last year and had a nibble at $5 million but was not bought. It has now sold for close to $5.5 million. As the dollar drops further we are likely to see more cases of expats buying back in to the Australian top end market, pushing prices up still further.
Other evidence of a strengthening market is the increase in $1 million-plus sales in the "B" suburbs of Balwyn North, Box Hill, Beaumaris and Bentleigh that fringe the more-traditional blue chip suburbs.
When you see sales improving in these suburbs you know the top end market generally is improving because buyers start moving there when they can no longer afford the blue chip suburbs. The reverse happens when a market is falling, as fringe buyers move back from these fringe suburbs into the blue chip suburbs.
We're also seeing buyers becoming more anxious about missing out on a home, and sometimes insisting on buying anything - even if it is not really suitable for their needs. We believe these kinds of panicky purchases can lead to poor long term financial and/or emotional outcomes. Over the long term, any market fluctuations that might happen while you're waiting for the right home, will be more than evened out by the better outcomes - financially and emotionally.
Mal James is principal of<a rel="nofollow" target="_blank" href="https://www.jamesbuyeradvocates.com.au/" title="James Buyer Advocates"> James Buyer Advocates</a>, which advocates on behalf of buyers of property over $1 million. Mal writes weekly auction reports, advice and in-depth market analysis on James' website.

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maljames-vHwm28JUAa

Melbourne suburbs see more buyer activity as prices jump in blue chip areas: Mal James

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Perth leads the nation with 5.5% annual home value growth followed by Sydney at 4.2% annual growth, according to the latest RP Data release.
Perth is the only capital among the five majors to be in the positive over the past month.
<img alt="rpdatahomevaluesmay27one" src="/images/stories/2013/05/rpdatahomevaluesmay27one.jpg" width="470" height="223">
<img alt="rpdatahomevaluesmay27two" src="/images/stories/2013/05/rpdatahomevaluesmay27two.jpg" width="470" height="190">
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jchancellor-FAypfDUnLy

Perth leads nation in annual price growth: RP Data

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You don’t have to be a golfing enthusiast to move to QM Properties golf course development The Fairways.
Located 50 minutes west of Brisbane, the <a href="https://www.qm.com.au/residential-projects/fairways" target="_blank">Hatton Vale development</a> is releasing its latest stage of 24 lots ranging from 400 square metres to 9,811 square metres.
Facilities in the estate include a primary school and two nearby childcare centres.
<img height="311" width="470" src="/images/stories/2013/05/fairwaysmay27one.jpg" alt="fairwaysmay27one">
Prices for allotments range from $99,950 to $149,500.
The Fairways first launched in June 2004 and 357 lots out of the total 545 lots have sold.
<img height="309" width="470" src="/images/stories/2013/05/fairwaysmay27two.jpg" alt="fairwaysmay27two">
QM Properties sales manager Damien Ross believes The Fairways development to be the most affordable golf course land in Australia.
Ross says the estate traditionally attracted golfing enthusiasts but is now attracting more families looking for bigger blocks and country view outlooks.
“Many of our buyers don’t even play golf, but are attracted to the large blocks and country style outlook.
“We have a large percentage of buyers who are moving there from other smaller lot residential subdivisions,” says Ross.
Ross says there is a strong sense of community in a golf development that you don’t really get in high-density living.
<img height="313" width="470" src="/images/stories/2013/05/fairwaysmay27three.jpg" alt="fairwaysmay27three">
Residents include RAAF reservist and former F-111 aircraft engineer Darrly Prestidge and his family.
Prestidge built a six-bedroom, three-bathroom home.
“We got fed up with the noise and really wanted to have somewhere quieter that gave us room to build a big house for the family,” says Prestidge.
The newest stage is set to be completed in June 2013 and 17 allotments in stage R have already sold.</body></html>

ntrotman-Et3xWpamVh

You don't have to be a golfing enthusiast to live at Hatton Vale's The Fairways

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GPT Group has formally withdrawn its bid to acquire the non-residential businesses of Australand.
A <a target="_blank" href="/news">$2.8 billion bid</a> to acquire Australand’s investment property portfolio and commercial and industrial businesses was rejected in December.
"The GPT Group (GPT) announces that it has withdrawn from pursuing a proposal with the Board of the Australand Property Group (Australand) to acquire its Commercial and Industrial assets and business," said the A-REIT. "GPT expressed an interest to work with Australand in early December 2012 to develop a proposal in the interests of both sets of securityholders.
"Following the completion of  detailed due diligence and discussions, it has become apparent that a transaction at a price that GPT is willing to pay is not possible. "GPT has maintained a disciplined approach and has consistently advised the market that it does not need to proceed with the transaction to achieve its strategic goals. "GPT will continue with its existing organic growth plans for its logistics &amp; business parks and office portfolios and allocate capital accordingly," said GPT. 

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GPT pulls out of Australand bid 

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Despite the continued terrific auction clearance rates, Melbourne vendors must still expect to discount their private treaty asking prices by 8.9% to secure a sale. Melbourne private treaty houses are typically selling fairly quickly at 46 days.
But only Hobart requires a higher discount of 9.5%, according to the latest RP Data information. Hobart's typical 67 day time to secure a house sale isn't the slowest capital city as Adelaide, Brisbane and Darwin are currnetly taking 70 days or more.
With the fastest sales rate in the country, Sydney private treaty house stock is rushing out the door in just 35 days average time on market with vendors required to typically offer a 6% discount for houses.
For Sydney private treaty established unit stock is even quicker selling in just 32 days average time on market with vendors required to typically offer a 4.1% discount. The data covers the week ending May 26.
Just three months ago Sydney houses were also spending  the least time on average on the market, but it was taking 70 days. Sydney units in late February were typically take 59 days to sell, <a href="/news">also the quickest sale type in the country</a>.
<img alt="rpdatatommay28one" src="/images/stories/2013/05/rpdatatommay28one.jpg" width="470" height="317">
<img alt="rpdatatommay28two" src="/images/stories/2013/05/rpdatatommay28two.jpg" width="369" height="331">
<img alt="rpdatatommay28three" src="/images/stories/2013/05/rpdatatommay28three.jpg" width="364" height="330">
'Time on market' (TOM) is the average number of days between when a property is first listed for sale and the contract date.
The rate of vendor discounting isthe average percentage difference between the original listing price and the final selling price.
The statistics are calculated across results received by RP Data overthe past week and include properties transacted over the past four weeks.
The data is based on private treaty sales only and records without a valid sale price havebeen excluded from the vendor discount analysis.
The analysis also excludes results where there are less than 10 observations.
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Sydney's sale pace picks up as time on market cut by half: RP Data

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The market for the sale and purchase of a business lacks the easy-to-access metrics of the residential housing market.
There are no median prices and nor are there any clearance rates. As a result, trends can really only be found through the people buying and selling businesses: the business brokers themselves.
The REIV Business Broking Chapter contains a wealth of just this sort of knowledge. Its members know what will sell, what won’t and how best to prepare your business for sale.
After studying the trends in their business they have highlighted five types of businesses that are currently finding buyers.
<ul>
<li>
Service-based businesses suitable for white-collar professionals.
</li>
</ul>
This reflects the broader trend towards service-based industries in the Victorian economy and is an attractive business type as the established cliental is readily transferrable with the sale. Brokers find this sort of business is in reasonable demand because of the guaranteed income.
<ul>
<li>
Manufacturing businesses with niche products
</li>
</ul>
It is no secret that broad-based manufacturing does not hold the place in the local economy that it did a few decades ago, but that does not mean there is no future in the market. Rather the focus has shifted to business based around specialised products, often with small production runs. These businesses are able to compete because of the unique nature of their product and they don’t face the cost based pressures from the high Australian dollar and related costs.
<ul>
<li>
Industrial businesses that provide a service to other industries
</li>
</ul>
As businesses look to find ways to reduce fixed overheads in the face of competitive pressures they often outsource functions that are uneconomic to provide due their specialised nature or irregular need. This has created a niche business of industrial service businesses.
<ul>
<li>
Micro businesses that can provide a second family income
</li>
</ul>
Families looking for a way to increase the household income have two choices, finding further waged employment or running their own, small, business. This has created a demand for very small business that can be run from a home office. This trend has been boosted by the Internet which allows a world-wide audience and simplifies the process of selling.
<ul>
<li>
Businesses involved in health and aged care
</li>
</ul>
Australians are spending increasingly large amounts on health and aged care as our population ages. This creates an ongoing and strong demand for services in the sector. Not surprisingly the businesses that operate in the sector are also in high demand and according to REIV business brokers also readily find buyers.
To find an REIV Business Broker visit <a target="_blank" href="https://www.reiv.com.au/Members/Agency-Search">https://www.reiv.com.au/Members/Agency-Search</a>.
Colleen Danaher is chair of the REIV Business Broking Chapter.
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Five types of businesses currently selling well: REIV's Colleen Danaher

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The property market has <a href="https://www.smartcompany.com.au/property/055623-sydney-weekend-clearance-rate-at-three-year-high">continued its strong year</a> with another weekend of high auction clearance rates, and the lower Australian dollar could make it even stronger.
Experts say the plummeting currency could actually start encouraging more foreign investors to spend their money in Australia.
“This goes both ways,” says SQM Research managing director Louis Christopher. “You see existing property investors being hurt by the lower dollar because it means they’re getting less of their local currency coming back.
“That being said, when we see a falling dollar, housing becomes cheaper for those who are considering entering the local market and it means they’re getting a better price.”
The dollar has continued its fall, opening this morning above US96 cents. New reports indicate the dollar could hit as low as US85 cents within the next year, according to Fairfax. Many economists have expected this fall to eventuate as the American economy improves.
But as Christopher explains, the lower dollar attracts property investment to certain areas.
“The falling dollar is good for the local economy, and therefore it becomes good for the local housing market,” he says. “We’ll see more international tourism, and less domestic tourists who head overseas.”
Meanwhile, the property market has continued its streak of solid auctions results.
The Real Estate Institute of Victoria (REIV) reported Melbourne recorded a clearance rate of 71% over the weekend, compared to the same result last weekend and 60% the same time last year.
“Strong clearance rates continue to be recorded in the inner east, south eastern and Bayside suburbs this year as competition among bidders increases in some of Melbourne's million-dollar suburbs,” REIV chief executive Enzo Raimondo said in a statement.
There were 665 auctions reported, with 473 sold.
In Sydney, the city recorded a clearance rate of 76.5%, based on 286 reported auctions and 237 sales. The figure compared to 54% recorded during the same time last year.
Both results continue the strong series of clearance rates recorded during 2013, alongside positive sales price data from RP Data and the Australian Bureau of Statistics.
Christopher says he believes the market is in a state of “modest recovery”.
“Overall, the market is in a recovery. In some cases it’s a little quicker than modest, but house price growth has been difficult to measure because the reporting bodies have been varied.
“However, our opinion is that we’re still on the recovery path.”
Christopher says while the Melbourne and Sydney markets have remained positive, Canberra is struggling.
“The market is hurting there, and Darwin… while fairly strong, we think is sensitive to a downturn.”
This article originally appeared on <a target="_blank" href="https://www.smartcompany.com.au/">SmartCompany</a>.
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