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“Minister Chanthivong and his team have shown real leadership in replacing an outdated two-year bond with cover that matches the lifespan of the buildings people are buying into.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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Amid expectations of a surge in Chinese buyers of Australian and New Zealand property, LJ Hooker has signed a new three-year strategic partnership with Chinese property listings portal Juwai.com.
A previous 12-month agreement was signed in July last year and has been successful to date with 30% of calls from estate agents to the LJ Hooker head office about wanting a closer relationship with Juwai.com.
Juwai’s two co-CEOs will attend LJ Hooker’s annual conference in Queensland this week to explain how LJ Hooker franchisees can attract as many Chinese buyers as possible to their listings.
Juwai.com bills itself as the top-ranked international property portal for the world’s Chinese-language population.
The new agreement follows Juwai.com recording a <a target="_blank" href="/news">61% rise in Australian residential property searches</a> since the start of the year with property viewings up 162% over the same period.
Chinese buyers spent over $4.2 billion on Australian property in 2011 compared with $1.1 billion spent in 2009, earning Australian estate agents about $48 million in commission in 2011.
The new partnership will include LJ Hooker participation in “elite international property expos in China, attended by high net worth Chinese buyers”.
The real estate group will also get greater exposure to the Chinese market through a special corporate landing page hosted behind the Chinese government firewall; corporate banner ad campaigns designed around the core offshore purchasing seasons as well as other branding initiatives.
LJ Hooker estate agents will also receive exclusive discounts on selected premium advertising products on Juwai.com.
Greater demand among Chinese buyers for prestige residential property is also expected due to the new significant investor visa (SIV) with the first such visa issued just over a week ago to a Chinese toy manaufacturer.
Further issuances of SIVs are expected to flow through to the prestige end of the property market - residential property does not qualify as part of the $5 million investment requirement, but successful applicants will want somewhere to live.
LJ Hooker chief executive Georg Chmiel says that "on the whole, Australian agency brands are not well known in China".
"Our extra branding and advertising on Juwai.com will mean that Chinese buyers know and trust LJ Hooker long before they hear about any other agency network," he says.
Simon Henry, co-CEO of Juwai.com said Chinese buyers are now more confident when planning property inspection and buying trips. 
“It can take 12 weeks to obtain their visa to visit Australia and they use that time to thoroughly research the market. That makes it critical to reach them before they leave China,” he says.
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LJ Hooker looks to sell more property to Chinese buyers with three-year marketing deal with international property listings portal Juwai.com

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Once again the drop in interest rates has been promoted widely as “good news” for the housing market, with Wayne Swan taking ample credit as he attempts to persuade public ears that record low rates are solely down to “responsible” fiscal policy.
To assume this is a reaction to a number of concerning economic indicators would be ‘grossly inaccurate’ we’re told - with Wayne Swan assuring the voting public that “Australia's economy is resilient.”
You could be forgiven for believing that we’re living in an environment similar to the old fable “The Emperor’s New Clothes” with only a few short months ago seemingly believable tales of an early return to surplus widely circulated until the pure nakedness of the situation, to the tune of $17 billion was revealed. 'Whoops!' Sorry about that.
And whilst a drop in rates may on the surface bode well for mortgage holders wanting to pay down debt, the bleak reality remains that for savers, many of whom are would-be first-home buyers, the news is not good at all.
Any long term downward direction in rates should always be considered a concern – they sit at the seat of a number of economic problems, and point firmly toward a trend of lower growth. Furthermore, a lengthy period of low rates is harder to reverse as consumers come to rely on cheap credit, unsustainable at higher levels should a ‘bubbly’ environment call for a reverse course of action.
As a tool, they are limited in their effectiveness for stimulating the economy pushing yield seekers into riskier assets. Since the global economic crisis, the world’s banks have been concentrated on lowering rates in order to boost growth. The textbook model indicates the atmosphere will motivate an increase in lending for such items as homes, goods and services; however monetary policy is a pretty blunt instrument and understandably in our post GFC environment, the appetite to reduce debt and accelerate payments on outstanding mortgages has been far greater than the push to consume.
In the UK, putting aside the London housing bubble inflated principally by foreign investment - the housing market has been broadly stagnant.  As with Australia, vendors – have chosen to hold, rather than sell for diminishing nominal returns.  Talk of lowering rates into negative territory and dangling carrots in front of first-home buyers by way of ‘help to buy’ equity schemes are all last ditch temporary measures to artificially prop up prices which critics emphasise will do little to address affordability in the long run, and artificially inflate prices in the near term. Yet akin to a doctor prescribing placebos, short term relief is better than a long term cure – particularly when approaching election.
As I mentioned previously, although it may seem logical to assume lending rates initiate price changes, other economic factors play a far greater influence, and unless the needed ingredients are combined, interest rates on their own can do little to change the terrain by any significant sustainable degree.
Furthermore, whilst governments can allocate at their discretion where to spend our tax dollars and pressure the banks to ‘pay forward’ the rate cuts gifted,  they have limited influence on where cheap credit is spent (or for which asset it is lent) into the economy or to direct it into areas where it’s needed most – principally construction.  The banks decide at their own discretion where to make their loans, the majority of which are directed towards the established real estate market, over and above other areas such as job-creating businesses.
Since November 2011 we’ve had seven drops to the cash rate – passed on ‘in part’ by the banks.  To date it’s failed to evoke any significant improvement to the construction industry with the latest data showing a 35 month consecutive contraction – the fastest rate since September 2012.
Established house prices have also been slow to respond– it took until mid 2012 for any marginal improvement in median values to emerge (principally boosted by consumer confidence,) and only recently have we seen any significant uptick. Albeit, throughout the period, growth in ‘private sector housing credit’ has remained weak and transaction levels low by historical standards.
 
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Melbourne recorded its strongest first quarter since 2010, however once adjusted for inflation we still sit -11.2% below peak values with a promised ‘softer’ second quarter. According to RP Data, capital city values in real terms have moved little since September 2007.
The new home market sits in a dismal glut.  Last week the HIA released 50 “action strategies” focusing on the economy, taxation, industrial relations and ‘red tape’ in an attempt to lobby government to allocate a greater proportion of the federal budget to addressing the issues which they assess are needed in order to advance ‘sustainable’ recovery.
Part of their campaign focuses on our ‘housing shortage’- and whilst there’s no doubt a growing population will require an increased surplus of accommodation, ‘population forecasting’ focuses on a number of ‘assumptions’ which are always subject to change.
For example, between 2001 and 2006, census data indicates we’ve reached a point where number of persons per household has stopped declining and is once again increasing – no doubt in part due to the rising costs of living and accommodation.
The results show how household size has increased from 2.4 people per dwelling to 2.66 in the five interim, and although a few 0.01 percentage points may seem insignificant, this figure is used to calculate ‘underlying’ housing demand, therefore, even a small shift of 0.01% can result in a ‘needed’ reduction of almost 30,000 dwellings.
Albeit, there is little point building a surplus of homes unless it can be assured the consumer (mortgage holder) will respond, and in this respect, the key issue to our shortage of housing lies in effective planning for population growth, which I’ve argued more than once, cannot be combated from simply building an excess of ‘roof space’ alone – or for that matter, dropping interest rates to historic lows.
To date, the only solution offered has been the channelling of first home buyer grants exclusively into the ‘new’ market – in other words, if no one else will buy it, throw smarties to our most price sensitive demographic and see if they will take the bait - an unsustainable irresponsible policy producing dismal results.
From a home buyer’s perspective, using their hard earned ‘deposit’ to purchase into a ‘new housing estate on the city fringe, where land is in abundance, is quite simply not worth the effort once travel costs and failed promises for the provision of infrastructure have been calculated. Nevertheless without recovery in construction, it remains that any surplus of credit will be poured into the established sector – principally lead by investors fighting over the same dwindling pot of existing dwellings.
Viewing housing as merely a tool to build wealth and drive the economy takes a fair amount of manipulation yet this is the reality. According to RP Data, tax revenue generated from property taxes alone, account for a collective 46% of total revenue for local and state government. In the recent Victorian state budget, it was revealed ambitious plans for a new east west link are in part reliant on an increase of 33% to 37% in property related taxes.
In a <a href="https://m.smh.com.au/victoria/banking-on-recoveries-in-housing-and-labour-20130507-2j58o" target="_blank">statement</a> to Fairfax Media, the property council of Australia warned "Any budget that relies on property taxes to pay for 40% of the bills is too dependent” – and it’s been noted that the prospected increase in transactions needed to fund Victoria’s bills is somewhat ambitious considering it was only a few weeks ago in the RBA’s  <a target="_blank" href="https://www.rba.gov.au/publications/fsr/2013/mar/pdf/0313.pdf">Financial Stability Review</a> that Melbourne’s property market was singled out with specific warnings of a ‘softer outlook’ ahead.
The long and short remains that Australia is pinning its future outlook on a robust housing market with both the RBA and Treasury looking towards the construction sector to fill any void from a slowdown in mining.  And whilst low interest rates can keep the mantra to first-home buyers going that ‘housing affordability is at its best level in a decade,’ despite prices continuing to rise, then the only way affordability can be sustained for those entering the market, is if the RBA hold down the cash rate over a lengthy period as seen in the UK and USA.
All things being equal, this option may sound feasible – however, equality in is not under the control of either the RBA or government when they cannot dictate where a larger supply of cheap credit is directed.
Without addressing the real issues causing weakness in the housing sector, it encourages central banks and investors to believe that market manipulation is the only feasible answer. Should a bubbly environment start to emerge in an atmosphere where low rates have become the norm, a favourable outcome will be far harder to wield than may be imagined.
Catherine Cashmore is a market analyst with extensive experience in all aspects relating to property acquisition.
 
 
 
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catherinecashmore-6LXia3pPQj

Rate cuts bode well on the surface but long term downward trend is a concern: Catherine Cashmore

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The residential property market recovery is underway but the house and land market is lagging this by around six months, new Stockland CEO Mark Steinert has told investors at a third quarter update.
He also revealed more pain ahead for Stockland investors before a recovery from about 2016 onwards with another $49 million worth of write-downs identified on previously impaired projects.
This follows Stockland reporting a <a href="https://www.propertyobserver.com.au/land/stockland-pins-hopes-on-western-sydney-and-wa-residential-projects-as-interim-profits-slump-148/2013021259306" target="_blank">$306 million write-down across 13 residential community projects</a> in February as part of a 148% drop in statutory interim profits and a loss of $147 million to December 31.
The new writedowns assume a worst-case scenario with "no additional material impairments"expected "unless trading conditions deteriorate significantly".
Third quarter performance is expected to be in-line with expectations but earnings per share for the full 2013 financial year will be down 25% on 2012 and at the bottom end of the target range provided three months ago.
Stockland is forecasting a 2013 distribution to shareholder of 24 cents per security.
Steinert revealed that only 30% of Stockland’s projects are “capital efficient” amid an overall upbeat outlook for the residential market.
“Key leading indicators are showing signs of improvement and the established housing market is improving,” said Steinert.
Stockland achieved its strongest net deposits in the March third quarter of 2013 since the first quarter of 2011, with its WA division accounting for 47% of these and Victoria improving, though still impacted by "competitor rebating".
"Queensland lead indicators suggest confidence is returning, but this varies between sub-markets," he said.
Steinert said the group would no longer build standalone high-rise apartments, saying this had been an “unhappy” experience for Stockland and also “high risk”.
Instead, Stockland will look to “reshape” the residential portfolio by accelerating the launch of new projects that “improve geographic diversity, accelerate completion of poor performing projects and right-size the land bank”.
Stockland will also look to expand its customer reach with medium-density offerings, noting the success of its terrace home Bower series at its Bells Reach community in Queensland.
Other successful medium-density projects noted by Stockland include the Mernda (Victoria) and Willows (NSW) retirement projects, Essence in Maribyrnong and Riverwalk and Waterside in NSW.
In the growing medium-density housing market, Stockland will look to build semi-detached and attached houses, townhouses, and terraces as well as low rise apartment towers of up to six levels.
These will be built by “selectively developing land from its existing land bank”.
“Residential performance will improve in coming years with the launch of new projects, disposal of non-core assets, reduction in cost base and delivering community outcomes in our larger masterplanned communities,” said Steinert.
<img src="/images/stories/2013/stockland_housing_graph.jpg" width="470" height="371" alt="stockland_housing_graph">
 
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Stockland has an existing land bank of 86,000 lots of which 31,000 of these lots are at its $4 billion Lockerbie project in Melbourne’s north (covering 1,121 hectares and aimed to deliver homes for 30,000 people) and its 2,300-hectare Caloundra South project on the Sunshine Coast, with plans for homes for 50,000 people.
<img alt="stockland_land_bank" height="320" width="470" src="/images/stories/2013/stockland_land_bank.jpg">
Source: Stockland
The goal will be to reduce its land bank to 51,000 lots by 2018 with 30,000 of these remaining lots in Lockerbie and Caloundra and 21,000 in other projects.
The group is targeting 5,000 to 6,000 lot sales per annum with an expectation of rising sales in NSW (17% to 21% of sales), Queensland (30% to 33%) and WA (19% to 23%).
However, lots sales in Victoria are expected to fall from 34% to 23%.
Stockland will launch new residential projects in East Leppington and Marsden Park in NSW in 2014/15 to “take advantage of the strong market conditions in metropolitan Sydney”.
It also notes that its WA business is “now at scale and benefiting from the strong market conditions”.
In total Stockland has 28 active residential projects covering 28,000 lots with plans for five new projects valued at $200 million to be launched in 2014/15 covering 11,000 lots.
Stockland expects residential margins to increase from 2016 onwards and will look to increase revenue by “creating a better community value proposition that drives higher customer referrals”.
Around a fifth of all new sales leads are referred.
“These leads convert at three times the rate of a non-referred lead. There is a strong link between satisfaction and referral,” says Steinert.
“Our proprietary liveability study of over 1,700 residents has enabled the identification of the specific community elements that contribute the most to higher customer satisfaction (or liveability)
“By focusing our development and community creation activities on the most important elements, we can increase satisfaction, drive greater referral rates and grow margins over time,” says Steinert.
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Residential recovery underway but more pain for Stockland as $49 million write-down revealed

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Mirvac will look to sell poorly-performing shopping centres and retail properties in secondary, sub-optimal markets as it focuses on building a prime retail portfolio.
The A-REIT will look to acquire sub-regional, and neighbourhood shopping centres in “strong markets” as well as select CBD retail assets “within strong trade areas either standalone or as part of mixed-use property”.
Mirvac will look to acquire assets in the four big capital city markets - Sydney, Melbourne, Brisbane and Perth - as well as in some select regional markets "with strong fundamentals", said Mirvac chief executive Susan Lloyd-Hurwitz as part of the group’s strategic review.
Secondary and in sub-optimal markets make up 20% of Mirvac's $1.6 billion retail portfolio.
<img src="/images/stories/april23tivoli/mirvac.jpg" width="470" height="247" alt="mirvac">
Assets that might come under review given the new strategic focus might include the Orange City Centre, Manning Mall in Taree and Hinkler Central in Bundaberg.
The strategic review highlights that Mirvac’s Broadway Shopping Centre in Glebe, just outside the Sydney CBD, is its most productive shopping centre over 45,000 square metres by annual turnover per square metre.
The 50,000 square metre centre is valued at $250 million and brings in annual turnover of $423 million.
“Whilst there has been some improvement in retail sales this quarter, conditions are expected to remain difficult for retailers during 2013,” says Lloyd-Hurwitz.
“Recent interest rate cuts, whilst boosting consumer incomes, have not translated into broad-based sales growth and category performance is expected to remain mixed.
“Vacancy rates to remain resilient in quality centres (across all sub-sectors); however rental growth continues to moderate,” she says.
Mirvac has an $800 million retail investment pipeline tied to its residential community projects include the Stanhope Shopping Village in north west Sydney, Kawana Shopping World on the Sunshine Coast and the Orion Springfield town centre in Ipswich.
Mirvac revealed a 99.2% occupancy rate in its retail property portfolio with moving average turnover up 3% across its portfolio driven by food-based retailers and mini-majors.
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Mirvac to head to big city suburbs and CBDs for prime retail investments amid “difficult” conditions

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Thinking about one day renting the heritage premises at 70 Errol Street, North Melbourne tenanted by Australia Post? Take a number. Better yet wait 868 years, as only 131 years of the lease has gone.
According to the Melbourne City Council book on lease agreements, recently opened to public inspection, Australia Post has the lease on the premises (pictured below) until 2881.
And that’s not a typo.
<img alt="postofficemay13one" height="353" width="470" src="/images/stories/2013/05/postofficemay13one.jpg">
According to The Age’s city editor Jason Dowling, lord mayor Cornelius Job Ham signed a 999-year lease with Australia Post in 1882.
Melbourne City Council finance committee chairman Stephen Mayne called the lease agreement “ridiculous” and said it should be renegotiated.
Image courtesy of Travel Victoria.
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Australia Post’s 999-year lease in North Melbourne revealed by Melbourne City Council

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House Rules premieres tommorow night at 7.30pm, up against the Channel 9 perennial, The Block.
The new state-versus-state renovation series, from the makers of My Kitchen Rules, aims to deliver true home renovations.
The six contestant couples have put their entire home on the line promising an emotional return to their new homes after the seven-day renovation.
The teams have to work independently on their own zone within each house but they also have to work as a team to ensure each room complements the other when it's completed.
The six teams competing are: <a href="https://au.tv.yahoo.com/house-rules/teams/article/-/16802165/michelle-steve-nsw/"></a>
<a href="https://au.tv.yahoo.com/house-rules/teams/article/-/16802165/michelle-steve-nsw/" target="_blank">Michelle &amp; Steve</a> (Collaroy Plateau, New South Wales) <a href="https://au.tv.yahoo.com/house-rules/teams/article/-/16802279/nick-chris-vic/"></a>
<a href="https://au.tv.yahoo.com/house-rules/teams/article/-/16802347/amy-sean-qld/" target="_blank">Amy &amp; Sean</a>(Nundah, Queensland)
<a href="https://au.tv.yahoo.com/house-rules/teams/article/-/16802523/carly-leighton-sa/" target="_blank">Carly &amp; Leighton</a> (Warradale, South Australia) <a href="https://au.tv.yahoo.com/house-rules/teams/article/-/16802965/jemma-ben-wa/"></a>
<a href="https://au.tv.yahoo.com/house-rules/teams/article/-/16802965/jemma-ben-wa/" target="_blank">Jemma &amp; Ben</a> (Melville, Western Australia)
<a href="https://au.tv.yahoo.com/house-rules/teams/article/-/16803037/jane-plinio-tas/" target="_blank">Jane &amp; Plinio</a> (New Town, Tasmania)
<a href="https://au.tv.yahoo.com/house-rules/teams/article/-/16802279/nick-chris-vic/" target="_blank">Nick and Chris</a> (Preston, Victoria)
Each of the six House Rules teams hand over the keys to their homes and allow their competitors free reign to transform their house, so the host Johanna Griggs expects lots of passion and pride in the way teams tackle the renovations.
"It's a bunch of likeable Australians with amazing back stories," Griggs said.
Apparently the teams have longed to be able to renovate, but not been able to accomplish it until now because of large mortgages.
As there's a "life-changing prize on the line," Property Observer guesses it may well be having the winner's mortgage paid off in part or maybe even in full.
Perth local papers have been quick to identify newlyweds Jemma Blenkinsop, who runs a spray-tan business and builder, Ben Van Ryt as recent first-home buyers in late 2011, but with the Perth property market the way it is, they couldn't afford to renovate their 1950s Melville home. Property Observer notes it cost $555,000.
The Tasmanian couple paid $355,000 in 2010 for a house initially listed at $380,000-plus.
The so-called Sydney battlers Steve and Michelle Ball who live at Collaroy Plateau on the northern beaches paid $650,000 for their house in March 2012.
The South Australian couple paid $450,000 for the house which had been listed with $485,000 hopes in May 2012.
Johanna Griggs, the presenter of Better Homes and Gardens, is herself a keen home renovator, currently building her fourth home with husband, builder Todd Huggins.
“I’ve been in this industry for 20 years now and this is the first time I’ve had a go at this style of show.
"Because we are dealing with people’s own homes, I’m expecting the stakes to be high, the competition to be tough and the results incredible.
"We are the rare combination of two people who absolutely love home renovating.
"Even though this is something we love to do, I’d be lying if I didn’t say it can be extremely stressful.
"There are so many things you can’t control on a building site; not to mention the tension that usually arises around budgets, general fatigue and soreness when you are working towards a deadline.
"But the upside is that most days you can actually see tangible change.
"I love the fact you can look at a room and feel a great sense of satisfaction at what you can achieve.
"You put your heart, soul, blood, sweat and tears into what you produce and when you realise you’ve done it together it’s an incredibly satisfying and addictive feeling."
Chester Drife is the House Rules building supervisor.
With its catchy theme song, "Change Your Life" by Little Mix, House Rules airs Tuesday, Wednesday and Thursday at 7.30 pm on Seven.
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jchancellor-FAypfDUnLy

House Rules, the new addictive reality television show on the block, renovates for keeps

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The NSW government’s decision to only incentivise first-home buyers who purchase new homes from October last year appears to be gaining traction, the Reserve Bank has noted in its May monthly statement on monetary policy.
"For the state as a whole, there has been an increase in demand from first home buyers, which is likely to reflect the increase in government incentives to first-home buyers purchasing new homes relative to the incentives available for purchases of established homes," says the RBA.
The following graph prepared by the RBA shows the trend of rising first-home owner grants (FHOGs) in NSW for new dwellings and also a small uptick in Queensland, where a similar incentive scheme is in place.
In Victoria the trend is heading in the other direction, but this is ahead of the introduction of a <a target="_blank" href="/news">$10,000 FHB grant for new homes only from July 1</a>, with an expected rush among some FHBs to finalise purchases of existing dwellings.
<img alt="fhb_in_nsw" src="/images/stories/2013/fhb_in_nsw.jpg" width="470" height="402">
The <a href="https://www.propertyobserver.com.au/residential/everything-you-need-to-know-about-the-new-nsw-first-home-buyer-%2415000-grant/2012092756828/Page-1" target="_blank">NSW government provides $15,000 to first-home buyers</a> purchasing a new home up to $650,000 but has removed the previous $7,000 grant available for both new and existing FHBs.
A first-home buyer maximum stamp duty exemption of $20,240 is also available for new homes worth up to $550,000.
From January 1 2014 the $15,000 grant will reduce to $10,000.
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FHB demand for new homes rising in NSW: RBA

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The media tycoon Rupert Murdoch is currently in escrow to buy the Moraga Vineyards Estate at Bel Air.
He has tweeted about celebrating his purchase of the "beautiful small vineyard right in LA."
"Great wine,"  tweeted the News Corp chairman on Twitter.
<a href="https://www.moragavineyards.com" target="_blank">Moraga is a 13-acre vineyard located in Bel Air</a>.
{yoogallery src=[images/stories/2013/05/may13murdoch]}
Murdoch reportedly saw the Los Angeles property featured in the real estate pages of News Corp newspaper, The Wall Street Journal listed for $US29.5 million.
Rupert Murdoch is currently in escrow to buy the Moraga Vineyards Estate at Bel Air. Moraga Vineyards is a wine growing estate in the Santa Monica Mountains at an elevation of 600 to 900 feet, five miles from the Pacific Ocean in the Los Angeles community of Bel Air.
Moraga is located next to the 405 Freeway and its near neighbours include the Getty Center.
In the 1930s, Victor Fleming, director of The Wizard of Oz and Gone With The Wind, owned the then horse ranch property which was the first commercial winery to be bonded in the city of Los Angeles after prohibition ended in 1933.
 
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About to celebrate buying beautiful small vineyard right in LA. Great wine, Moraga, owned by great Angelino, Tom Jones. Time cover,1961!
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<div class="client-and-actions" style="clear: both; margin-top: 10px; overflow: hidden;">12:05 PM - 10 May 13</div>
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The first Moraga red table wine was produced in 1989 and released in 1992 and its first white was produced in 1998 and released in 2000.
Murdoch's celebrations might have been a drop of its Cabernet Sauvignon or its Sauvignon Blanc. Its exclusivity is reflected in its bottle prices - $US145 for the red and $US85 for the white.
Tom Jones, the current owner, is the former CEO of the aircraft manufacturing giant, Northrop Corporation. He has owned the property for 53 years.
The LA Times reports Moraga wines are sold in the city's toniest restaurants, including the Bel Air Country Club, Nobu, the Beverly Hills Hotel, Spago and Morton's Steakhouse, along with a few in New York.
Its homestead is a 7,500 square foot Mediterranean-style main residence boasting four bedrooms, four bathrooms, a lavish octagonal dressing room and maid’s quarters.
Title Tattle recollects Rupert Murdoch was the owner of another home in the hillside of Beverly Hills with tinseltown pedigree.
It was was bought by News International for $US7 million in 1986 from the estate of MCA entertainment founder Jules Stein.
The house, which Stein named Misty Mountain, was built in the 1920s for silent film director Fred Niblo and his Australian actress-wife, Enid Bennett, who starred as Maid Marian opposite Douglas Fairbanks's Robin Hood.
It featured in Dominick Dunne 1990 novel, An Inconvenient Woman.
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Rupert Murdoch buys a drop of tinseltown movie pedigree with Bel Air vineyard, Moraga acquisition

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Lights, camera, action! Well, perhaps not within the NSW Supreme Court room.
A three-day Sydney court hearing has been scheduled starting Monday with the actor Toni Collette and her musician husband, David Galafassi, being sued over their failure to settle on an alleged $6.35 million Paddington terrace purchase.
Collette, who was snapped only recently by the paparazzi in Sydney in News Ltd papers, is reportedly, according to Fairfax Media, going to be absent from the courtroom corridors.
She is currently filming a movie about the search for happiness. With filming scheduled in Canada and London, <a href="https://www.tonicollette.org/2013/05/10/hector-and-the-search-for-happiness-first-still/" target="_blank">a first production still </a>for “Hector and the Search for Happiness”, featuring Simon Pegg and Toni Collette, has been recently posted on a Toni Collette fan website.
The May 13 to May 15 court hearing dates back to October 2011 when the couple reputedly signed a contract to buy a double-fronted Paddington terrace from Susie Kelly, the co-founder and owner of Industrie clothing with her husband, Nick.
The Stewart Street house <a href="https://www.propertyobserver.com.au/residential/actor-toni-collette-and-muso-david-galafassi-fall-for-the-charms-of-contemporary-inner-city-paddington/2011110752250" rel="nofollow" target="_blank">was snapped up</a> – quite early in its marketing campaign through low-key McGrath agent Ben Collier.
However the Paddington terrace has since been been resold for $5.5 million, so the entertainment industry couple face an $850,000-plus claim against them for the difference.
Designed by architect Anthony Gill and completed in 2009, the five-bedroom, four-bathroom house sits on a 360-square-metre block.
The entertainment industry couple made their alleged decision not to proceed with the Paddington purchase after they struggled to find a buyer of their<a href="/news">Bronte </a>house.
Their 1885 Bronte weatherboard cottage that cost $4.4 million in mid-2009 struggled to find a buyer despite being tipped to sell for around $900,000 less than their purchase price.
Collette and Galafassi instead bought back at Bronte, swapping homes with <a href="/news">the buyer of their own $3.5 million house</a>.
The Kellys bought on Kutti Beach at <a href="/news">Vaucluse </a> in March last year for $15.5 million, so incurred a land tax charge on the redundant Paddington property.
So their damages claim against the entertianment industry couple also includes a claim for $43,516 in state land tax and interest for four months.
The $6.35 million sale of <a href="https://www.propertyobserver.com.au/residential/actor-toni-collette-and-muso-david-galafassi-fall-for-the-charms-of-contemporary-inner-city-paddington/2011110752250" target="_blank">the five-bedroom home </a>was allegedly due to be settled by late December 2011, but Collette's lawyer, David Carr, told the Kellys' lawyer in an email on New Year's Eve last year his clients intended "not to proceed" with the purchase.
Collette and Galafassi are also arguing the vendors resold the property under value.
They claim the price ought to have been $6.25 million, according to documents filed in the Supreme Court.
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Toni Collette's Paddington terrace property dispute court proceedings kick off Monday in Sydney

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Sir Richard Branson wants to open his mostly private Australian retreat to cheaper guests with plans before council seeking to turn the island into an $850 a night boutique hotel.
Guests can currently only stay on Makepeace Island if they book out the whole island at $8000 plus a night and at $16,500 peak season.
Under the plan - subject to Sunshine Coast Council approval - guests could pay around $850 per person a night with a minimum three-night stay.
{yoogallery src=[images/stories/november30makepeace]}
Branson opened his private retreat to the luxury holiday market in  <a target="_blank" href="https://www.propertyobserver.com.au/news/sir-richard-bransons-noosa-getaway-for-hire-%E2%80%93-for-%2417000-a-night/2011071150769">early 2011</a> for well-heeled travellers.
Many of the island’s visitors have been well-known names who choose to holiday there to escape the pressures of fame.
Branson, along with Virgin Blue executives Brett Godfrey and former colleague Rob Sherrard, had bought the heart-shaped island for $2.86 million in 2007.
Guests travel to and from the island by riverboat, and it contains a host of facilities, such as an outdoor cinema and a full-sized tennis court, to keep them occupied.
It been available to rent for up to 22 guests.
There is a main house, three two-bedroom villas and a four-bedroom guest house. It has a boathouse, lagoon pool and a 15-person spa.
When he initially bought Makepeace there were suggestions it could be available to his hardworking airline crew as a a reward for their endeavours.
But council regulations proved cumbersome in that aim.
"When neither Brett nor myself are visiting Makepeace, we will make the island and its facilities available for others to enjoy the tranquillity of what is a very special place,” he said when announcing Makepeace island would be available to rent to limited paying guests.
This week Branson told News Ltd papers he wanted to make the island accessible to more people.
"We'd like couples to be able to book the island rather than just people who can afford to take the island as a whole,'' he said.
The syndicate has spent more than $7 million on the property, giving it "the look and feel of a Balinese resort."
Under the $850 a person per night plan the price will include meals and transfers, but alcohol will be extra.
The big test for the proposed changes is regarding water treatment on the island.
"Based on the calculated peak hydraulic loading of 2,700L/day (14EP) and the minimum required land application area of 540m2, no change to the existing infrastructure in relation to sizing is considered necessary," Branson's consultant, Future Plus Environmental suggests.
"Provided the on-site sewerage facility is maintained in accordance with the recommendations provided in the Site and Soil Evaluation Report (ref no. 2771- 02) and operation and maintenance manual, there will be minimal risk of impact to the site and surrounding areas," the report says.
"Makepeace Island is my home when I come to Australia,'' Branson told News Ltd's national travel reporter, Angela Saurine.
"Love Noosa, love that part of Australia,' he said. 
 
 
 
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