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“Minister Chanthivong and his team have shown real leadership in replacing an outdated two-year bond with cover that matches the lifespan of the buildings people are buying into.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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The Australian dollar's fall below parity against the US currency will be welcome relief for expatriates thinking of buying back home.
It's still a bit soon, but they will certainly be taking a closer look at residential property following the recent decline in the dollar.
Even with access to very cheap interest rate opportunities overseas, the high dollar stopped many executives and white-collar professionals taking the time to search out for their likely new home during the summer of 2012/2013.
When the dollar was high, Rismark joint managing director Ben Skilbeck noted the high Australian dollar had also made local housing more expensive for expatriates, particularly at the luxury home end of the market.
An anticipated rush home by expatriates after job losses in Europe, Asia and the Middle East, didn't eventuate into an acquisitive trend after the global financial crisis.
Mosman agent Robert Simeon from Richardson &amp; Wrench told Property Observer when compared to pre-global financial crisis Australian expats activity in property markets had been "few and far between."
"Obviously any value declines with the AUD$ would make Australian residences a lot more appealing although there is not enough anecdotal evidence that expats find our real estate as appealing as previous sales activity would indicate," Robert Simeon said.
He said the Chinese market was now the dominant players in his market demographic so a declining AUD$ will not be a market salvation for our expat markets more particularly at the top end.
"When Australia's commercial and investment banks are doing well our top - end property markets respond accordingly," he said.
Last May when the dollar briefly fell to 98 cents, it was noted the fall was possibly not enough to encourage expat Australians to invest back in the local residential property market, according to Greville Pabst, chief executive of property valuers and consultants WBP Property Group.
Pabst noted a falling Aussie dollar was positive news for expatriates, with the improved conversion rate giving them “greater buying power”.
However, he suggested the Australian dollar needed to "deteriorate to or below 90 cents against the US dollar before we expect to see an influx of expatriate buyers."
“A fall of 10¢ in the dollar (AUD) equates to a saving of $53,500 for expats based on the purchase of a property at Melbourne’s current median house price of $535,000.
"This is a great incentive in anyone’s eyes," he said in May 2012. 
At noon today (Monday, May 20) the currency was trading at 97.66 US cents, having fallen more than five US cents between May 9 and May 17.
It reached parity with the US dollar in November 2010 and rose to a 29-year high of $1.108 on July 27 2011 before retreating.
Download our free eBook on <a href="http://propertyobserver.com.au/ebooks/free-ebook-20-top-tips-for-australian-expats-thinking-of-buying-homes-this-summer" target="_blank">20 top tips for Australian expats thinking of buying back home this summer</a>.
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jchancellor-FAypfDUnLy

Weakening Australian dollar set to see expats return to Australian property purchasing

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The premises of Rogues Jeanery on the trendy Acland Street shopping strip in St Kilda has sold at auction for $3.14 million.
The sale price reflects a yield of around 5% with current tenant is Rogues Jeanery Pty Ltd, returning $158,371 per annum plus GST.
The result reflected a land sales rate of $36,000 per square metre.
Rogues Jeanery (pictured below) has <a href="https://www.realcommercial.com.au/property-retail-vic-st+kilda-500697351" target="_blank">occupied the building since the mid-1980s </a>and its current lease expires in February 2018.
{yoogallery src=[images/stories/2013/05/may20rogues]}
The 110 square metre shop comprises two interconnected shops on two separate titles and has frontage onto Acland Street of 8.5 metres.
The auction campaign was handled by Mark Talbot and Geoff Emmett of Fitzroys. The annual rent review is given as 6%.
Talbot says the purchaser was attracted to the maximum future flexibility of the adjoining shops on two titles, as well as the solid income stream with annual rent review increases, and the location in one of Melbourne’s most sought after retail shopping strips.
Acland retail property is a tightly held asset with no shops currently listed for sale and just two shops available for lease in a new development on the <a href="https://www.commercialview.com.au/68-72a-acland-street-st-kilda/commercial-lease-details-4492671" target="_blank">corner of Acland Street and Carlisle Street.</a>
According to research by Beller Commercial, Acland Street has the highest rents among Melbourne retail strips and also the lowest vacancy, at just 2.5% with just two stores out of 80 vacant.
Acland Street has previously reported a zero per cent vacancy rate in similar surveys published over the years.
Averaging asking rents on Acland Street are around $1,000 per square metre, per annum.
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Investor snaps up Rogues Jeanery shop premises on St Kilda's Acland Street on 5% yield

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The instances of homes selling at a loss has begun to ease, according to an RP Data capital markets report.
Over the three months to September 2012, 13.5% of all homes sold were transacted at a price which was less than their initial purchase price, the report says.
"Since that time, the proportion of homes selling at a loss has eased. Over the three months to December 2012, 12.5% of all homes sold transacted at a price which was less than their initial purchase price," the report says.
"At the same time a year earlier, 10.8% of homes sold for less than their purchase price."
There has also been a rise inthe proportion of homes selling for more than double their initial purchase price.
Over the December quarter, 32.1% of homes sold transacted for more than double their purchase price, up from a low of 30.9% of homes over the September 2012 quarter.
<img alt="rpdatasummermay16one" src="/images/stories/2013/05/rpdatasummermay16one.jpg" width="470" height="253">
The report also found that homes in coastal and 'lifestyle' housing markets are much more likely to sell at a loss.
"Over recent years, the market performance in these regions has been hampered by much lower housing demand as interstate migration has slowed and the tourism market has also eased," the report says.
Three of Queensland’s major coastal markets have had the largest proportion of homes selling at a loss over the three months to December 2012.
On the Gold Coast, 39.4% of all homes sold at a loss over the quarter followed by 34.5% of sales on the Sunshine Coast and 33.8% of homes in the Far North region.
<img src="/images/stories/2013/05/rpdatalossmay15one.jpg" width="400" height="677" alt="rpdatalossmay15one">
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Gold Coast remains the epicentre as the number of homes selling at a loss drops across Australia: RP Data

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Hi Margaret,   

I would like to ask you how one can go about converting residential property into commercial property such as a medical centre.  

What are the pros and cons of doing that?

Thanking you.

Regards,

Opinder

<hr>
Hi Opinder,

The answer to this question may vary a little from state to state – each state has their own department of planning and, sadly, not all states are on the same page with the same rules.  

Having said that, and generally speaking, the ability to convert a standard residential property into a commercial property is going to depend upon the current zoning.  Note that this is different from electing to run a home business from a residential property – in some councils that may also need some kind of approval, however the purpose of such a venture does not specifically change the purpose for the building itself.

Where you wish to turn a house into a doctor’s surgery or some other business, the zoning must be appropriate for the new use.  This is because there are many considerations to make: – will there be sufficient parking so that the neighbours properties aren’t affected by cars in the street? Will the business affect the peaceful habitation of homes in the area? Will the presence of customers have any kind of impact which may be detrimental to the area? and so forth.  

[smartcode_project:default project_id=8669]

In some cases there may already be a commercial zoning or a ‘mixed business’ zoning in place, and in these cases often doctors’ surgeries and the like are allowed.  However, where the zoning is purely residential, then the intended use will either be not allowed, or you will have to apply to council for a change in zoning.  

In these circumstances it’s often better to engage a town planner to assist you with the application.  The money you spend on such a professional will most likely save you countless hours of your time.  The town planner can usually give you a good indication of your chances of success before you incur much time, or spend much money.

Margaret Lomas is a best-selling author and writes and hosts the popularProperty Success With Margaret Lomas and heads up the panel onYour Money, Your Call, both on Sky News. She is the founder of <a href="https://destiny.com.au/dotnetnuke/en-au/home.aspx" rel="nofollow" target="_blank">Destiny</a>.

Have a property question? <a href="mailto:askmargaret@propertyobserver.com.au" target="_blank">Ask Margaret!</a>
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mlomas-KC9MUPZ6Ca

Ask Margaret: how can I convert residential property into commercial property?

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The rate of vendor discounting for houses in Melbourne rose to 8.7% over the week to May 12, up from 8% the week prior.
Conversely, the rate of vendor discounting for houses in Sydney dropped from 6.9% to 6.7% over the week, and in Brisbane the rate dropped from 8.7% to 7.6%.
<img alt="rpdatadiscountingmay13one" src="/images/stories/2013/05/rpdatadiscountingmay13one.gif" width="470" height="318">
<img alt="rpdatadiscountingmay13two" src="/images/stories/2013/05/rpdatadiscountingmay13two.gif" width="470" height="335">
The rate of vendor discounting is the average percentage difference between the original listing price and the final selling price.
The statistics are calculated across results received by 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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ntrotman-Et3xWpamVh

Vendor discounting climbs slightly in Melbourne: RP Data

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You often hear that location is paramount when choosing a great investment property. But what makes a good location?  
While a lot of factors come into play, easy access to facilities must be near the top of the list.  
Walking distance to transport, shops and the café lifestyle is one the strongest trends attracting buyers and tenants. This is particularly so among the growing demographic living in apartments in our inner suburbs.  
Australian cities have been ranked by WalkScore
Well, now you can find out how ‘walkable’ your suburb is.  
Walkscore.com measures the number of typical consumer destinations within walking distance of a dwelling. It issues scores ranging from 0 (car dependant) to 100 (most walkable) and has recently ranked more than 100 Australian cities and 3,000 suburbs.
With a ‘walk score’ of 63, Sydney comes out on top in the ranking of <a href="https://www.walkscore.com/rankings/australia" target="_blank">The Most Walkable Australian Cities and Suburbs</a>.  
While a number of real estate websites have incorporated WalkScore and more are likely to follow, the ‘walkability’ index has a number of shortcomings.  
Consider the low-scoring regional dweller who enjoys walking their dog on a rural path. Not to mention that what one person considers a ‘walkable’ trip may seem an epic hike to another.  
Walk Score’s ranking of the top 10 largest Australian cities:  
Here is how our cities ranked:
1. Sydney (Walk Score: 63)
2. Melbourne (Walk Score: 57)
3. Adelaide (Walk Score: 54)
4. Brisbane (Walk Score: 51)
5. Perth (Walk Score: 50)
6. Newcastle (Walk Score: 49)
7. Wollongong (Walk Score: 48)
8. Gold Coast (Walk Score: 48)
9. Central Coast (Walk Score: 41)
10. Canberra (Walk Score: 40)  
While this is interesting, what is more important is that in every city some suburbs are more ‘walkable’ than others.  
You can check out the complete list of ranked cities and suburb <a href="https://www.walkscore.com/rankings/australia" target="_blank">here</a>.
Walk scores are turning up in a number of property portals and agent websites and you can expect to see more in the future.  
What does all this mean?
Over the past decade, <a href="https://www.smh.com.au/nsw/walkability-can-step-up-house-prices-20120330-1w3he" target="_blank">home values in Sydney’s ‘walkable’ neighbourhoods</a> have outperformed the rest of the city and can attract a 20% premium.  
It was much the same overseas where studies indicate that properties with above-average levels of ‘walkability’ command a premium over homes with average levels of ‘walkability’.  
It gets even better…  
‘Walkable’ neighbourhoods offer a number of health and economic benefits. For example, a 10-year long study of Australians by the <a href="https://www.sciencedaily.com/releases/2013/03/130307124427.htm" target="_blank">University of Melbourne</a> found that ‘walkable’ neighbourhoods with proximity to shops, parks and public transit improve people’s health and wellbeing.  
As our population grows and our cities become denser, I see the importance of easy access to amenities and ‘walkability’ becoming more important.  
With more of us trading backyards for balconies and living in apartments, we’re spending more time in cafés and restaurants rather than entertaining at home.
Add to this the fact that 22% of our population are living alone, then the opportunity to stroll up the road to visit their favourite café for a coffee or a meal is particularly important to them.
So when you’re looking at buying your next home or investment property consider its proximity to amenities. As our lives become more hectic and our cities become more congested, many of us will be prepared to pay a premium to be close to - but not right next to - transport, shops and amenities.
Michael Yardney is a director of <a href="https://www.metropole.com.au/" rel="nofollow" target="_blank">Metropole Property Strategists</a> who create wealth for their clients through independent, unbiased property advice and advocacy. Subscribe to his <a href="https://propertyupdate.com.au/category/property-investment/" rel="nofollow" target="_blank">Property Update</a> blog.
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'Walkability' will become more important as cities become denser: Michael Yardney

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Westfield Group's joint chief executives Steven and Peter Lowy have come under fire from two US proxy shareholder groups after they earned a combined 2012 remuneration package in excess of $18 million.
The two Lowy brothers were appointed co-chief executives in 2011 following the decision of Frank Lowy to assume a non-executive role.
Peter Lowy received a 2012 salary of $2.5 million – unchanged since 2008 – along with a $3.36 million cash bonus. Combined with equity and cash awards, his total remuneration was $8.91 million.
Steven Lowy received a 2012 salary of $2.5 million – unchanged since 2008 – along with a $4 million cash bonus. Combined with equity and cash awards, his total remuneration was $9.4 million.
Both salaries are expected to be endorsed by shareholders at Westfield’s AGM on May 29.
However, CGI Glass Lewis, which acts on behalf of US institutional investors, said the aggregate salaries paid to Steven Lowy and Peter Lowy was more than twice the median of the entity’s market index peers” according to reports in the Australian Financial Review.
CGI Glass Lewis questioned the need for such “significant” pay packages and demanded a “thorough and convincing explanation for such high remuneration” - as yet not provided.
Another US proxy investor firm ISS, a subsidiary of global investment advisory giant MCSI called for more clarity around long-term incentives, of which only 22 Westfield executives participate, including the co-chief executives are eligible.
Long-term incentives are awarded based on Westfield meeting certain performance hurdles, which if met are paid out in 2016 and 2017.
Despite their objections, both US firms have urged their investors to vote in favour of the remuneration report at its AGM on May 29.
Westfield is one of the top performing A-REITS, beaten only by Goodman Group and Lend Lease Group on a return on equity measure.
Since their appointment the co-CEOs’ remuneration has not been increased to reflect their new roles while no adjustment will be made to their remuneration in 2013.
Their base salaries have been frozen since 2008.
The Westfield remuneration committee re-weighted their pay packet in 2012, reducing their cash salaries with a corresponding increase in their deferred equity to be issued to them under the short-term incentive plan.
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Westfield co-CEOs under fire over $18 million executive pay packets

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Prominent Melbourne law firm Slater and Gordon has cut its conveyancing fees for Victorian first-home buyers rushing to buy an existing home before the $7,000 grant for existing homes ends on June 30.
The firm’s standard conveyancing fee is $695, meaning eligible first-home buyers will receive a $347.50 discount if they buy a home before July 1.
From July 1, the government will provide a $10,000 incentive but only for those first-home buyers purchasing a new home.
All first-home buyers can also access a 40% stamp duty discount.
Adam Zuchowski, a Melbourne-based lawyer with Slater &amp; Gordon Conveyancing, predicted increased activity at the entry level of the property market.
“We have experienced a significant increase in conveyancing files since the [May 7] announcement was made,” he said.
Zuchowski said most first-home buyers were buying existing dwellings.
“Clearly there is a benefit for those first-home buyers who are able to negotiate a purchase prior to July 1 and I anticipate there will be a significant number of Victorians who will be wanting to take advantage of that,” he said.
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Slater and Gordon cut conveyancing fees to Victorian FHBs facing grant deadline

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All seven hardware store premises listed for sale in Sydney and Melbourne Burgess Rawson portfolio auctions have sold to investors with yields ranging from 5.79% to 10.28%.
Six of the seven stores are Home Timber and Hardware, 67% owned by Woolworths and 33% by US-based Lowes - the same partnership that owns the Masters business - and one was the Bunnings (pictured below) in Warragul, Victoria.
{yoogallery src=[images/stories/2013/05/may17bunnings]}
The successful sales under the hammer comes as demand rises among private investors for commercial property assets with strong lease covenants.
Total enquires for the Melbourne portfolio exceeded 650 for the first time ever for a Burgess Rawson portfolio auction.
Burgess Rawson’s previous best was 641 in April 2009 where five more properties were offered than this 14 property campaign.
The top price paid under the hammer was $4.63 million on a yield of 8.54% for the Bunnings in Warragul, a regional town 104 kilometres southeast of Melbourne.
It was bought by a Brisbane-based investor, who had missed out on previous Bunnings properties.
Burgess Rawson director Billy Holderhead said Bunnings assets were always “really popular” among investors both in upturns and downturns.
“Masters has made it a much competitive environment for Bunnings, rents have increased fairly significantly.
“In some situations leases have been renegotiated to be a little more landlord friendly,” he told Property Observer.
The Warragul Bunnings is at 10 June Court with a lease running until 2022 with two renewal options of five year's each.
It brings in annual rent of around $395,992.
The modern 5,094 square metre building includes a drive through plus nursery and secured yard on a 10,510 square metre site.
The vendor was a Bunnings private syndicate.
The highest yield of 10.28% was achieved for the Home Timber &amp; Hardware store in the Tasmanian port town of George Town, on a brand new seven year lease with 21 years of renewal options.
The two level store has 1,070 square metres of retail space on a 1,777 square metre site with further development potential.
The stores sold for $458,000 below pre-auction expectations of around $500,000 plus.
 
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Another Tasmanian store, the Becks Timber &amp; Hardware premises at Shearwater sold for $890,000 on a yield of 8.66%.
Holderhead said the yield would have been above 10% when the business was privately owned. It forms part of the Woolworths/ Lowes enterprise with a brand new seven year lease with multiple renewal options and a new lease  of $71,000 net per annum.
Shearwater is a popular holiday destination 17kms from Devonport and one of Tasmania's fastest growing towns.
A third Tasmanian hardware store – Becks Timber &amp; Hardware – sold for $890,000 on an 8.66% yield.
All three Tasmanians hardware stores were bought by Melbourne-based buyers, who bought them sight-unseen.
Holderhead says there were Tasmanian bidders, but they were unsuccessful.
The other hardware businesses to sell were the Home Timber and Hardware in Canberra, which sold for $4.57 million on a 7.68% yield, a Home, Timber and Hardware in Queanbeyan, NSW which sold for $3.275 million on a yield of 7.79% and the Home, Timber and Hardware in Footscray which sold for $3.11 million on a 5.79% yield.
In addition, the Port Adelaide state office of hardware chain John Danks &amp; Son Pty Ltd, also tenanted as part of the Woolworths/Lowes partnership, sold for $712,000 on a yield of 8.01%.
In total 12 out of 14 properties in the portfolio auction sold under the hammer totalling $21,395,000 following Tuesdays seven property sell-out, bringing in $24,846,000.
In the Melbourne auction, the average premium on reserve expectations for the properties sold yesterday was 14% (or $1,913,000 overall), with three properties achieving 35% or more in excess of the vendor’s pass mark.
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Bunnings Warragul store snapped up by Brisbane investor for $4.6 million as Coles versus Woolies DIY battle pushes up rents

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Sydney has been named Australia’s most walkable city by US-based Walk Score in its first ranking of Most Walkable Australian Cities and Suburbs.
Walk Score’s ranking of the top 10 largest Australian cities includes:
1. Sydney (Walk Score: 63) 2. Melbourne (Walk Score: 57) 3. Adelaide (Walk Score: 54) 4. Brisbane (Walk Score: 51) 5. Perth (Walk Score: 50) 6. Newcastle (Walk Score: 49) 7. Wollongong (Walk Score: 48) 8. Gold Coast (Walk Score: 48) 9. Central Coast (Walk Score: 41) 10. Canberra (Walk Score: 40)
<a href="https://www.walkscore.com/rankings/australia" target="_blank">The complete list of ranked cities and their suburbs </a>is available at walkscore.
“There are more than 50 walker’s paradise suburbs in Australia, 31 of which are in Sydney alone,” said Walk Score CEO Josh Herst.
“Australia’s most walkable cities and suburbs make it easier for residents to leave their cars at home more often which is great for your wallet, health, environmental impact, and quality of life.”
Walk Score’s walkability ranking is the only international, quantitative rating of neighbourhood walkability. Cities and suburbs are rated on a scale of 0-100, with locations receiving a score of 90-100 deemed a “Walkers’ Paradise.”
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<a target="_blank" href="https://www.propertyobserver.com.au/residential/walkability-will-become-more-important-as-cities-become-denser-michael-yardney/2013051661402?utm_source=po&amp;utm_medium=aida&amp;utm_campaign=observers">Walk Score</a> delivers more than 9 million scores for apartment and home addresses per day across a network of more than 15,000 real estate sites.
According to independent research conducted by CEOs for Cities, one point of Walk Score adds up to US$3,000 to home values.
Australians can find their Walk Score by entering an address at <a target="_blank" href="https://www.walkscore.com.">https://www.walkscore.com.</a>
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