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“Minister Chanthivong and his team have shown real leadership in replacing an outdated two-year bond with cover that matches the lifespan of the buildings people are buying into.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

Joel Robinson

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

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

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

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

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

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

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

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

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

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

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

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

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

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

Every First Home Owner Grant for new property by state

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

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

Staff Writer

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

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

alisonwarters@gmail.com

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

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

Ellen Walker

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

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

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

<html><body>
Harry Triguboff opened the doors of his private mansion estate in Vaucluse to Channel Seven’s Today Tonight earlier this month.
In a five minute <a target="_blank" href="https://www.youtube.com/watch?feature=player_embedded&amp;v=DqqdPi2tHBQ">segment</a> Triguboff showed reporter Laura Sparkes around his “little house” while discussing his secrets to success.
<img alt="triguboffmay27two" height="260" width="470" src="/images/stories/2013/05/triguboffmay27two.jpg">
During the slot he revealed his limited edition Bentley (pictured below), one of only two in Australia.
<img src="/images/stories/2013/05/triguboffmay27one.jpg" width="470" height="289" alt="triguboffmay27one">
He discussed how money doesn’t actually mean that much to him beyond making business easier.
“You have to work hard. The more money you have the harder you have to work, that’s for sure. If you think that by having money you work less you soon won’t have it,” Triguboff says.
He tells Sparkes his success came from having one idea and he stuck to it.
“I never built even one cottage. I never went into subdivision. I never went into commercial. I only stuck to one thing,” he told Today Tonight.
“I saw that was where the movement was. And I saw it 50 years ago, not today. And I had lots of fights because they were telling me how Australians had to have a quarter acre block but I told them that’s not true. Some do and some don’t.
“It used to be the dream. So what? They can’t do it.”
He says the apartments are like his babies and he loves them all.
Triguboff says part of the secret to his success is having the cash to do what he wants without being badgered by lenders.
“I need money to make money to grow. To buy blocks of land at $100 million a pop you have to have money.”
“It’s very hard if you have to run to the bank to ask for money because they will start telling you ‘can you afford, can’t you afford it? Is it good is it bad’. This way I don’t have to talk to anyone. I have the $100 million and I do what I like.
“When I grew up no one had that kind of money so none of us knew it. It was just the evolution of time. And it is hard to conceive because how much money do you really need?”
He runs the company according to his whims and Triguboff has last say in all decisions.
“I listen to everybody. I ask their opinion I listen to it and then I decide and that’s what we do.”
Having just turned 80 Triguboff plays down speculation of retirement.
“I feel very well. I felt very well when I was 20 and I am feeling very well when I am 80. Mind you I can’t run as fast and I can’t swim as fast,” Triguboff says.
“I think that you should try and do everything you could as long as you can. You work as long as you can, you drive as long as you can, you run around with women as long as you can.
“I will retire when I become useless and I will the first to understand that. And I will be very quick in retiring.”
He says there will no slowing down for him or Meriton.
“The opportunities are bigger, the country is bigger. More money.”
</body></html>

awalsh-7Ub9EypybQ

Meriton's Harry Triguboff shares his business secrets - no cottages, no subdivision

<html><body>
A 158-square-metre office suite in Museum Towers, a mixed-use 35 storey office and residential tower on Castlereagh Street in the CBD has been listed for sale with $695,000 expectations as demand for larger Sydney strata offices from self-managed super fund investors rises.
The office suite includes a car park at <a href="https://www.realcommercial.com.au/property-offices-nsw-sydney-500660111" target="_blank">267 Castlereagh Street</a> with owners and tenants also having access to an indoor pool and a roof-top deck.
Museum Towers dates back to the 1930s with a decorative red-brick façade featuring four floors of office suites and 120 apartments.
According to Knight Frank, the Sydney CBD Strata office market recovered strongly in 2012 after bottoming out in 2011, with SMSF investors leading the charge.
The total volume of sales increased by 45% over this period with $136.5 million transacting despite only a modest rise of 3.1% in the total number of sales.
Capital values also showed a limited increase of 1.7% to a current total market average of $5,122 per square metre.
Knight Frank city sales executive, Andrew Palmer says there has been a significant increase in the volume of sales experienced in Sydney CBD Strata Office sales, specifically among owner occupiers, across the last calendar year despite a tightening and slowdown in the delivery of new quality stock to the local market.
In particular, the core CBD precinct attracted strong interest with average capital values increasing by 15.6% on 2011 figures.
“Predominantly the key factors for driving this significant increase in sales in 2012 are improved investor sentiment and the cost of debt continuing to fall with the cash rate now at its lowest level over 50 years. In 2012, we entered into a perceived low point of the property cycle with interest rates dropping and confidence returning in the market,” says Palmer.
“This sharp spike in sales can also be attributed to the change which took place 18 months ago in SMSFs. Investors began taking advantage of favourable tax benefits on offer with much of this increased activity during 2012 generated by SMSF’s and this in turn has pushed prices steeply up in the core precinct.
“There has also been noticeable change in buyer interest from sub 100 square metre office spaces which accounted for almost three quarters of all sales in 2011 to a strong movement back to larger office spaces, 101 square metres plus.
"This is indicative of Australian business downsizing post GFC and business becoming more confident and beginning to expand again in 2012,” he says.
</body></html>

lschlesinger-FZcF9M3vE6

Castlereagh Street office suite listed for $695,000 as SMSF investors return to Sydney strata office

<html><body>
What governments do and don’t do can affect the quality of our lives in terms of where we live and the type of housing we live in. 
We are increasingly turning away from the conventional form of the detached housing, demonstrated by 2011 Census figure that show a 66.7% increase in flat or apartment living from 2001 to 2011.
It is important that governments understand the change in our increasingly diverse society and its housing demands.
No doubt market driven supply and demand are drivers of much of the housing stock on offer, but what is less acknowledged is the impact of intervention of governments through regulation.
There are differences between Victoria and NSW that have influenced housing choices.  These differences will become less pronounced if each government borrows from the other’s housing policies for multi-unit development.
Melbourne’s apartment boom has been part population growth and changing demographics and part aided by a regulatory framework that has been relatively unrestrictive in determining the size and configuration of apartments.
The lengthy boom followed a hiatus of twenty years from 1971 when the Victorian Government introduced a major overhaul of residential controls in the Melbourne Planning Scheme, which effectively eliminated medium and higher density housing from being developed in Melbourne.
For twenty years, only 15% of new housing starts were in the form of multi residential housing until a rare Federal Government initiative called the Better Cities Program, together with a reviews of the residential planning rules by the Victorian Governments (alternating Labor and Liberal), provided the current regulatory framework. As a result, they played a significant part in making Melbourne a far more diverse and culturally rich city to what it was prior.
A prescriptive regulatory framework in Sydney
By and large, in Melbourne this framework is performance based. A more prescriptive framework operates in Sydney.
Whilst Sydney has a long history of multi-unit development, there has been only modest comparable multi-unit housing developed in the last few years.  Its long awaited upturn is encouraged by the proposed changes to the planning controls for multi-unit housing encouraging greater flexibility whist maintaining amenity standards.
Melbourne has typically been able to offer up more affordable apartments than Sydney, however Sydney’s apartments are often larger and have better amenity.  
In Victoria, multi-unit development controls allow greater flexibility and scope when determining the number and size of apartments.  Height controls are generally not mandatory and setbacks to streets and boundaries rely on little other than what is required for small-scale suburban development.
Design of privacy for multi-residential housing is managed by a minimum required distance between dwellings that was originally devised for single suburban housing scenarios.  Internal amenity controls are also limited, being largely governed by building regulations for single housing.  These stipulate required levels of ventilation and light as a percentage of the room area, irrespective of how deep the apartment is or whether its rooms receive adequate natural light levels, actual moments of sun penetration or natural ventilation.
 
<hr class="system-pagebreak">
In NSW on the other hand, sites have to be carefully master planned and buildings carefully configured to reach the government mandated targets of SEPP 65.
In 2002, in response to the then NSW Premier, Bob Carr’s perception of poor design standards of multi-unit housing development throughout Sydney, the NSW government introduced the State Environmental Planning Policy No. 65 – Design Quality of Residential of Residential Flat Development (SEPP 65).
It was followed with the Residential Flat Design Code (RFDC), a design guideline that provided discussion, analysis, examples and principles, primarily structured as a design tool for architects and assessing council officers.  It is a mix of ‘rules of thumb’ on issues such as cross ventilation and solar access.  These and other design objectives were quickly adopted as minimum standards for development.
The NSW planning policy also stipulates, through the Development Control Plans (DCPs) of Local Councils, both height and floor-to-site area ratios (FSR) along with type and mix of apartments (studios, 1BRs, 2BRs, etc).
SEPP 65 has improved the quality of multi-unit residential buildings in NSW. This planning policy has had a genuine impact on the quality of the built environment and residents living in these apartments appreciate their amenity. It has created awareness in architects and developers alike for the imperative for a rigorous design process that is not always found in the lower end product of its southern counterpart.  It has however, arguably resulted in more expensive apartments compared to what has been available in Melbourne.
Land costs are also higher in Sydney, resulting in a land cost of up to $100,000 per inner-city apartment, compared to around $50,000  per apartment in Melbourne. This higher land cost is exacerbated by fewer dwellings due to FSR caps, mandatory heights and required levels of apartment diversity. It is worth noting however that construction costs in Melbourne are 20% higher than Sydney for comparable projects.
Australia’s two biggest cities, Sydney and Melbourne, appear to be poised at opposite ends of their respective residential development cycles. Melbourne is expected to slow after experiencing a long boom – providing a valuable opportunity to review what is designed and offered to the market and look at what it can do better<ins datetime="2013-05-02T10:07" cite="mailto:Genevieve">. </ins>In doing so, I believe Victoria will adopt much of the NSW framework to raise standards for resident amenity, including access to light and sun, outdoor space and privacy.
Sydney is poised after years of quiet activity to gather momentum.  Important to this occurring will be the final revisions to SEPP 65 which<ins datetime="2013-05-02T10:08" cite="mailto:Genevieve">,</ins> yet to be finalised, are expected to borrow from the Victoria’s experience in providing scope for more flexibility and in turn, scope for greater affordability.
Small apartments should not be sacrificed in the process. Small apartments can provide affordable entry to housing for many people, particularly single households, who are the fastest growing household in Australia.
The small apartment should be considered as mainstream housing.  Governments, together with architects, councils, planners and developers should allow for innovative design solutions as ways to realise high amenity levels in ways not yet considered.
For small apartments to be successful homes, design levels have to be raised to accommodate adaptable layouts that allow residents to use them as they like, when they like. If a development consists mainly of small apartments, why not augment amenity beyond the apartment door with communal gardens or lounges and kitchens? Why not look to network amenity resources between precinct developments, with cross-pollinating facilities such as pools or playgrounds to encourage development of neighbourhood?<ins datetime="2013-05-13T14:57" cite="mailto:Sarah%20Buckeridge"> </ins> 
Taking care of the amenity and quality of what we live in and preserving what is of high architectural, cultural and social value is vitally important.  Taking care also of the broader community aspirations regarding diversity and demographic mix, equity and access to affordable and diverse housing is equally important.
The balance between prescriptive and performance standards is always difficult, with the desire to prevent the worst whilst potentially blocking the best. Governments need to arrive at a balance of the flexible and prescriptive and be open to the opportunity for innovation and affordability, or we will all be short changed.
Rob Stent is a director Melbourne-based architecture, interior and urban design practice Hayball and is a past president of the Victorian chapter of the Australian Institute of Architects. Among the buildings he has designed is Lend Lease’s completed Serrata apartment building in Docklands, one of Melbourne's first apartment buildings to achieve a four-star Green Star rating.
 
 
 
</body></html>

robstent-hjZyKHkPah

Sydney developers must not abandon small apartments as momentum builds: Rob Stent

<html><body>
Property prices are on the move in the inner suburbs and as a result more and more buyers are going to find themselves priced out of the house market.
Instead, they will turn to townhouses and apartments as a more affordable alternative. In many cases, they are not just buying the title to a property; they are also taking on a wider responsibility to other owners in the development, by joining an owners' corporation (formerly known as a body corporate in Victoria).
Before you buy a property in a development with an owners' corporation, it’s essential to understand your potential financial liabilities and other responsibilities as a member.  
An owners' corporation is made up of the owners of all the properties in a particular development, and is responsible for insuring, maintaining and improving the common property (that is, any part of the building and grounds that is shared by other owners).  
Many corporations engage professional managers to run the organisation’s day-to-day affairs on their behalf, and pay them a management fee to do so. However, the manager is not legally responsible for the decisions and activities of the corporation.  
Common property may include, among other things, external walls, roofing, fencing, rubbish bin corrals, driveways, shared courtyards and shared laundries. To pay for the upkeep of common property, members of an owners' corporation are generally required to pay regular contributions. They may vote to strike additional levies to fund expensive one-off outlays such as repainting the building’s exterior, repairing the roof or replacing the windows.  
Before bidding at auction or negotiating a private sale, you or your legal representative should obtain an owners' corporation certificate which should form part of the vendor’s statement and tell you whether the corporation is planning any cosmetic or structural works, along with their estimated cost. Even when the cost is divided amongst a large number of other owners, your share may be quite high in dollar terms.  
Given that you’re already spending hundreds of thousands to buy the property and pay associated costs like stamp duty, the cost of works to common property may be the straw that breaks the camel’s back—so it’s important that you consider them before going any further.  
The certificate should also detail your share of ongoing owners' corporation fees (usually payable quarterly), which will help you budget for your holding costs over the long term.  
Once you’ve purchased, it’s essential to take out appropriate insurance. Whilst the owners' corporation is responsible for taking out and maintain adequate insurance to the common property, that’s as far as their liability extends.  
As an individual owner, it’s highly advisable to take out insurance that will cover the contents inside your apartment (if you’re an owner occupier) and include a public liability element in case a third party is injured on your premises. If you’re a landlord, it’s a good idea to take out landlord protection insurance to cover you in the unlikely event that your tenant maliciously damages your property or leaves without paying the rent.  
The owners' corporation is also responsible for setting and administering rules which govern the activities of residents in relation to the common property. Depending on the corporation in question, these rules may govern issues such as affixing external air conditioning and hot water units, colours to be used in external repainting, acceptable uses for balconies, covering floorboards to minimise disturbance to residents below, and pet ownership.  
The greater the number of apartments in a development, the more owners' corporation members there are, and the harder it can be to reach agreement on issues regarding the common property. Some owners are highly motivated, whilst others prefer to keep a lower profile and may deal with the corporation via their property managers.  
Whilst every owner is responsible for decisions made by the corporation, most organisations appoint a Committee to co-ordinate the views of the wider membership and liaise with the manager. Whilst joining your committee is no guarantee that your views on a particular issue will win the day, it can provide a greater sense of participation in matters that affect you and your fellow owners.  
By knowing your financial liabilities and ongoing responsibilities to the corporation before you sign on the dotted line, you’ll be well poised to enjoy the benefits of owning your townhouse or apartment right from the start.    
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 homebuyers.
</body></html>

marmstrong-sd3emVLPPb

Do your research before buying a property within a residential owners' corporation: Mark Armstrong

<html><body>
A <a target="_blank" href="https://www.crimecommission.gov.au/publications/crime-profile-series-fact-sheet/clandestine-laboratories-0">report by the Australian Crime Commission</a> stated that from 2010 – 2011, by a significant stretch Queensland recorded the highest number of detected clandestine laboratories in the country at 293. Western Australia followed with 171 detected labs and New South Wales and Victoria reported 87 and 63 respectively.
In my role, I have been fortunate to have a relationship with the Queensland Police Service Drug Squad. We have a common goal to educate property managers and licensees on the risks and indicators associated with the discovery meth labs. I have come to understand that illegal drug activity is not exclusive to outlying suburb and learned some of the indicators most would overlook, but are in fact a blaringly obvious clue to identifying a meth lab.
The circumstances in which Queensland property managers are required to conduct routine inspections means their eyes should be wide open to such clues. Clandestine (meth) lab detection in Queensland rental properties has and continues to grow exponentially.
Industry experts have been clear over the last number of years that these figures are rising – significantly. Only a month ago in Western Australia, <a target="_blank" href="https://www.watoday.com.au/wa-news/drug-lab-forces-public-housing-demolition-20130214-2efvh">it was reported </a>a home had to be fully demolished due to the extent of damage caused by the illegal activity.
The growing problem is not Australia-exclusive either. In an article by <a target="_blank" href="https://money.cnn.com/2013/02/12/real_estate/home-meth-lab/index">CNN money</a>, meth labs in US rental properties are a severe issue, with only 5 per cent of the approximate 84,000 labs detected by authorities when last recorded in 2004. Closer to home, the <a target="_blank" href="https://reiqblog.com/2012/12/drug-labs-found-in-unlikely-places/">REIQ Insider posted a blog</a> earlier this year on labs found in unlikely places, one in particular being in a high end suburb of the Gold Coast.
As a result of this rising issue, property managers and agencies may be exposed to significant personal and professional risk if the correct response measures are not taken. It is essential real estate practitioners take the time to understand how to recognise and respond to the discovery of a meth lab as mishandling could lead to far greater consequences.
In June, the REIQ in conjunction with the Queensland Police, Aon, Carter Newell Lawyers and TAADA (The Australian Drug Detection Agency), will host a series of interactive networking breakfast sessions that will identify key risks areas and the associated recognition and response tactics that every property manager must know.
For more information on these events, <a target="_blank" href="https://reiq.informz.net/reiq/archives/archive_777111">click here.</a>
Amanda Haack is events manager journal deputy editor at the <a rel="nofollow" target="_blank" href="https://www.reiq.com/">Real Estate Institute of Queensland</a>. This article originally appeared on the<a rel="nofollow" target="_blank" href="https://reiqblog.com/"> REIQ blog.</a>
</body></html>

ahaack-6499LRWKce

Queensland property managers must keep their eyes open for meth labs: REIQ

<html><body>
Speciality store vacancy rates in the Brisbane CBD are tightening as global brands like Zara, Topshop and Gap arrive on Queen Street Mall, says Jones Lang LaSalle (JLL).
The Brisbane CBD retail vacancy rate fell 0.4 percentage points over the second half of 2012 to be 3.7% as of December 2012 and, anecdotally, according to JLL, has edged further down in 2013.
The pedestrianised shopping strip crept up two places to be named the <a target="_blank" href="https://www.propertyobserver.com.au/retail/brisbane-s-queen-street-mall-climbs-into-list-of-world-s-ten-most-expensive-retail-rental-spaces/2013051461337">ninth most expensive retail space in the world</a> at $US739 per square foot per annum (about $A8,024.25 per square metre).
In its May update, Jones Lang LaSalle notes that there appears stronger signs in 2013 that general demand is improving in the Brisbane CBD retail market.
The graph below shows Brisbane CBD vacancy rates trending down, against the national trend:
<img alt="brisbane_CBD_vacancy_rates" height="382" width="470" src="/images/stories/2013/brisbane_CBD_vacancy_rates.jpg">
According to JLL, "leasing activity among food-based retailers has long been the primary source of demand in the market, but it now appears activity is improving among fashion-based retailers".
"A number of international retailers have, or are in the process of, entering the market, which is one driver of activity.
"Many of these retailers are implementing a large-format model and this ‘big box’ demand is creating a number of redevelopment opportunities in and around the Queen Street mall to accommodate these tenants, including Zara, Topshop, Gap and Hollister.
"As well as new mass market brands, the expansion of luxury brands in Brisbane continues, particularly along Edward Street, with Ermenegildo Zegna leasing 220 square metres at 155 Edward Street," says JLL.
</body></html>

Brisbane CBD retail vacancy rate tightens as global brands hit Queen Street Mall: Chart of the week

<html><body>
Australia’s economy should be the envy of the western world.
Where many western nations are plunging in and out of recession, our economic growth is only slightly below trend and unemployment is relatively low.
And with inflation seemingly tamed the Reserve Bank is comfortable with a cash rate at a generational low of just 2.75%.
But these beautiful numbers belie a tension and skittishness in economic commentary and in the mood of consumers and the electorate. Indeed, the conventional wisdom is that another rate cut is on the cards in coming months.
That worries me. I’m concerned about the possible mixed messages that Australia is sending internationally, particularly to potential investors and wealth creators. We’re increasingly signalling – in my view – an economy in trouble and an Australian can’t-do attitude, despite evidence to the contrary.
Matters are exacerbated by the troubles besieging the federal government. Its inability to predict, let alone stem, the voluminous growth in government debt over the last 12 months portrays it as hapless – a caricature the opposition is of course happy to hammer home again and again.
More broadly, the Gillard Government’s failure to sell its – and by extension, the nation’s –  economic credentials at home or abroad diminishes us at a time when we should be using our good fortune to further market the Australian economic brand.
I’m not particularly encouraged by the Opposition either, who, despite the polls predicting a comfortable win, appears less than ready for government. They’re heavy on slogans and light on policies.
I’ll need to see a lot more substance from them over the coming months – despite assurance and announcements relating to the carbon tax, pensions and income tax – to be reassured that they’re more than an opposition that’s big on rhetoric but small on anything else.
And that brings me to the heart-sinking matter of the federal election on 14 September. I know no one who is excited by casting their vote on that day. We have been literally worn out by the travails of this minority government – its innate uncertainty, policy log-rolling and perpetual eleventh hour negotiations – coupled with the Labor Party’s internecine infighting over the last 3 years and the media’s almost minute-by-minute obsession with dissecting it almost to the exclusion of any substance or policy discussion.
 
<hr class="system-pagebreak">
We have reached a stage where, collectively, Australians are gritting their teeth in the face of the coming months of tedium.
Others may argue that politics is always unattractive but in 2013 it’s much much worse than the usual fare.  The politicians’ cynicism has infected the electorate. That’s bad for democracy and its bad for our sense of community. Perhaps things will change on the 15 September. I’m not sure.
Nevertheless, I wonder if too many policy makers are too willing to accommodate and assuage our irritable, gloomy attitude at the moment. Are they mistaking a temporary grumpiness and lassitude for a deeper malaise and, consequently, are we being over-medicated with lower interest rates and ill-conceived government spending?
Lower interest rates will of course be good news for the property market, and this month’s 25 basis cut will – in my opinion – almost inevitably see property prices put on a quick spurt of 5% capital growth (on average) and see values of many properties return to and even exceed their 2010 highs.
But changing interest rates can be like pulling a brick with an elastic band. If rates continue to be cut, who’ll know when we’ve reached a brick-flying moment of over-exuberance, resulting in excessive property price growth and jacked-up interest rates? I don’t anticipate the market to move into anything like bubble territory as a result of recent cuts, but we don’t need to risk engineering increased volatility.
I would be just as happy for a slower, more measured lift in prices over the next couple of years off the back of genuine improvements in economic output, and a return to judicious and strategic government initiatives at both the state and federal level.
Monique Sasson Wakelin is a director of <a target="_blank" href="https://wakelin.com.au/">Wakelin Property Advisory</a>, an independent firm specialising in acquiring residential property for investors.
 
 
</body></html>

msassonwakelin-pDHXgmS5wA

Property values could soon exceed 2010 highs as uninspiring election looms: Monique Sasson Wakelin

<html><body>
“Strengthening conditions in the housing market” were noted by RBA board members at the May monetary policy meeting, where the cash rate was cut to a record low of 2.75%.
However, members also noted that, “thus far, credit growth had remained subdued”.
The key phrase in the minutes is that the RBA board decided that “some of the scope” to ease policy should be used at the May meeting, implying that scope still remains for further easing.
“[The board] judged that a further reduction in the cash rate was appropriate to encourage sustainable growth in the economy, consistent with achieving the inflation target,” read the minutes.
The minutes note improvement in dwelling buying conditions, rising dwelling prices and a pick-up in new dwelling investment.
"Indicators of consumer sentiment were above average levels, with reported buying conditions for dwellings and motor vehicles at relatively high levels," read the minutes.
"Dwelling prices were around 4% above their trough in mid 2012, and auction clearance rates had increased.
"New borrowing for housing had also picked up, while forward-looking indicators and the Bank's business liaison suggested that demand for new housing was improving – notwithstanding a decline in building approvals in the March quarter – with enquiries from prospective purchasers and visits to display homes increasing.
"New dwelling investment had increased since the middle of the previous year, with members observing that approvals for higher-density dwellings had increased, while approvals for detached dwellings had been flat over this period."
Looking ahead, the RBA board expects “moderate growth in dwelling investment” along with growth of resources exports and a pick-up in consumption offsetting “the slowing in overall business investment, given the peak in the mining investment boom along with the effects of fiscal consolidation and the high level of the exchange rate”.
The decision to cut the cash rate was taken despite the household sector responding to low interest rates with overall economic growth “expected to be somewhat below trend for a while” and the inflation outlook “revised down slightly”.
“Increasingly, the household sector had shown signs of responding to these low rates: wealth had been bolstered by higher equity and dwelling prices; measures of consumer confidence were above average; housing and personal loan approvals had been rising, although credit growth remained subdued to date; and dwelling construction activity was growing.
“At the same time, however, conditions in the business sector, as assessed in surveys, generally had remained below average, possibly in part because the exchange rate had remained high despite lower export prices and interest rates,” read the minutes.
</body></html>

Scope for more rate cuts as RBA notes conditions “strengthening in housing market”: May minutes

<html><body>
A 125-year old warehouse conversion in a Melbourne laneway, the former home to De Lacy restaurant, has been listed for vacant possession sale.
One of four properties historically known as Marks’ Warehouses, <a target="_blank" href="https://www.commercialrealestate.com.au/property/2010402137/for-sale/vic/melbourne/development-land/offices/retail">29 Niagara Lane</a> was built in the Flemish Medieval style designed by architect George De Lacy Evans.
The 1887-built building is best known as the De Lacey restaurant which ran for 22 years before closing in 2007. It was reopened in 2008 but has since closed again.
{yoogallery src=[images/stories/2013/05/may21niagara]}
Prior to this it operated as a prominent art gallery.
And before it began its life as a gallery it was the home of a cordial and spurious health product import business, as advertised in the image below.
<img alt="niagaramay21one" height="897" width="350" src="/images/stories/2013/05/niagaramay21one.jpg">
In 2006 The Age described the premises as “a classic Melbourne hidden gem oozing potential”.
Agent Peter Moore is marketing the property for use as a hospitality business, retail or showroom use, or for office or residential conversion, subject to council approval. It is zoned capital city 1.
It comes set up as a restaurant with cooking and bar facilities, a cool room, wine storage, a dishwasher and preparation and serving equipment.
The previous owner renovated the property to create a spacious entry, a central kitchen and a high clearance space between the entry and first-floor level.
The renovation included a restoration of the original building facades so the patina of the original building fabric has been retained.
It is one of four warehouses built in 1887 for Henry Marks by builder Daniel Sinclair, according to heritage documents.
“The first floor openings to the main facade are segmental arches, the second storey round arched,” according to heritage documents found in 1980. “In the Queen Anne Revival style, the parapeted gable ends are topped with finials.”
“Internally the floors are of Tasmanian Ironbark. The ceilings are timber-boarded and the floor to ceiling heights are seven metres.
“The buildings still retain their American barrel hoists. The lowest floor is a semi-basement, which allowed the ground floor to be at wagon tray level.”
All four warehouses are heritage listed.
The 98 square metre site has an internal space of 220 square metres.
It is being sold by Melbourne Commercial Group agent Peter Moore. The short notice listing goes to auction on May 31 with a price guide of around $1.8 million.
</body></html>

Melbourne heritage laneway building listed for sale

<html><body>
Superannuation funds are expected to deliver their strongest annual returns this financial year since 1996-97 with the recovery spurred on by the rising share market and a rebounded listed property trust (A-REITS) sector.
With two months to go in the 2012-13 financial year, the average balanced fund has returned 15.4% between July 1 2012 and April 30 2013, according to super research and consultancy firm Chant West.
Chant West estimates that returns rose to 17% as of last Friday with the 10-year-median return for balanced fund at 7.1%.
<img src="/images/stories/april23tivoli/chant_west.jpg" width="470" height="158" alt="chant_west">
The fall in the Australian dollar since the RBA cut the cash rate to a 53-year-low of 2.75% on May 7 has also help drive up returns by increasing the value of unhedged international shares.
Shares and listed property were the stand-out performers over the March quarter.
Australian and global REITs rose 5.3% and 8.8% respectively as investors returning to riskier assets.
Atchison Consultants managing director Ken Atchison <a target="_blank" href="https://www.propertyobserver.com.au/commercial/a-reits-deliver-strong-results-and-beat-equities-ken-atchison/2013042360678">wrote on Property Observer</a> that A-REIT total returns were "substantial" over the year to 31 March 2013.
"Listed property returned 30.7%, outperforming equities by 10.7%.
"Over three years listed property returned 11.7% p.a. Industrial property was the strongest performing sector over three years at 20.4% p.a, " he wrote.
In contrast bond markets have been more subdued with Australian and international bonds returning 0.2% and 1.2% respectively, reported Chant West.
The more aggressive fund categories – high growth and growth funds - which have a higher proportion invested in shares and listed property, have produced the best returns
“The strong share market rally has been driven largely by improved sentiment, with investors reacting optimistically to good news and looking past the current subdued growth rates, says Chant West director Warren Chant.
“Economic data out of the US was mainly positive over the quarter, and the Federal Reserve indicated that it’s in no hurry to end its quantitative easing and low interest rate policy.
“And although China’s most recently reported growth rate fell marginally short of expectations, there have been indications that its economy is now back on track.
“However, it wasn’t all smooth sailing as we were reminded that the Euro debt crisis still lingers, with concerns surrounding Cyprus’ debt woes and the political uncertainty in Italy,” he said.
</body></html>

Latest Investing Insights

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

Editor's Picks

Developments

New apartments

New townhouses

News

Latest Investing Insights

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

Editor's Picks

Receive the latest news stories to your inbox

Developments

New apartments

New townhouses

News