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“Minister Chanthivong and his team have shown real leadership in replacing an outdated two-year bond with cover that matches the lifespan of the buildings people are buying into.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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Buyers agent Melissa Opie says landlords should not have to offer incentives to rent their property unless they are trying to rent an off-the-plan apartment.
Landlords should be maintaining their property properly to keep it in demand by tenants who are getting increasingly fussy, Opie says.
“Ultimately they need to maintain their assets so they attract a higher quality tenant and that tenant will be prepared to pay a higher rental amount per week. If they don’t maintain they won’t maximise,” Opie says.
She says more and more investors, especially self-managed super fund investors want to buy 'set and forget' properties. Although the vacancy rate in Melbourne remains low purchasers like these are increasing the standard of homes tenants expect.
“As rents have risen, as they will continue to, tenants will go for the better quality property. They need a bit of a wow factor. Everybody has an ego and it doesn’t mean it has to be the Taj Mahal and have gold taps, it just needs to have been maintained so tenants can have a sense of pride.”
She recommends landlords complete regular cosmetic changes in their property to keep up with trends.
Opie also encourages people to build the cost of a gardener into the rent of a property. This means the property is maintained, increasing its value as a possible collateral for future purchases and it’s a cost that investors can claim on tax so they don’t have to charge tenants dollar for dollar.
Opie rebuked suggestions that landlords might offer gimmicks like shopping vouchers to prospective tenants, saying that with a decent property management agency they shouldn’t have to.
One of the few situations where landlords might have to use incentives to attract renters is when they are trying to rent a recently completed off-the-plan apartment.
Investors who bought off-the-plan often settle at the time and there could be as many as 70% of abodes in the same development hitting the rental market at the same time.
“That can be tough,” Opie says.
Options like one week’s free rent may entice renters in newer developments. Other options like a free pay TV subscription may help in certain demographics but it’s not something Opie says should be necessary.
Most of all she says the property needs to be marketed properly.
“You can’t sell a secret so they have be marketed correctly,” Opie says.
“It really needs good photographs and proper floor plans so tenants can visualise where they’re putting all their things.”
Image of Taj Mahal by Christian Haugen, courtesy of Flickr.
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awalsh-7Ub9EypybQ

Gimmicks unnecessary to rent Melbourne properties despite fussier tenants: Melissa Opie

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Rental yields for houses in Australian capital cities range from 3.6% to 6.0%, according to the latest information from RP Data.
<img alt="melbournemay2" src="/images/stories/2013/05/melbournemay2.jpg" width="400" height="155">
The median gross rental yield landlords are securing for houses in Melbourne, according to <a href="https://www.myrp.com.au/" rel="nofollow" target="_blank">RP Data.</a> The median gross rental yield across Australia's eight capital cities was 4.2% for the month ending April 30, 2013.
<img alt="sydneymay2" src="/images/stories/2013/05/sydneymay2.jpg" width="400" height="183">
The median gross rental yield landlords are securing for houses in Sydney, according to <a href="https://www.myrp.com.au/" rel="nofollow" target="_blank">RP Data.</a> The median gross rental yield across Australia's eight capital cities was 4.2% for the month ending April 30, 2013.
<img style="font-size: 14px;" alt="sydneymay2" src="/images/stories/2013/05/sydneymay2.jpg" width="400" height="183">
The median gross rental yield landlords are securing for houses in Adelaide, according to <a style="font-size: 14px;" href="https://www.myrp.com.au/" rel="nofollow" target="_blank">RP Data.</a> The median gross rental yield across Australia's eight capital cities was 4.2% for the month ending April 30, 2013.
<img alt="perthmay2" src="/images/stories/2013/05/perthmay2.jpg" width="400" height="153">
The median gross rental yield landlords are securing for houses in Perth, according to <a href="https://www.myrp.com.au/" rel="nofollow" target="_blank">RP Data.</a> The median gross rental yield across Australia's eight capital cities was 4.2% for the month ending April 30, 2013.
<img alt="canberramay2" src="/images/stories/2013/05/canberramay2.jpg" width="400" height="149">
The median gross rental yield landlords are securing for houses in Canberra, according to <a href="https://www.myrp.com.au/" rel="nofollow" target="_blank">RP Data.</a> The median gross rental yield across Australia's eight capital cities was 4.2% for the month ending April 30, 2013.
<img alt="brisbanemay2" src="/images/stories/2013/05/brisbanemay2.jpg" width="400" height="159">
The median gross rental yield landlords are securing for houses in Brisbane, according to <a href="https://www.myrp.com.au/" rel="nofollow" target="_blank">RP Data.</a> The median gross rental yield across Australia's eight capital cities was 4.2% for the month ending April 30, 2013.
<img alt="hobartmay2" src="/images/stories/2013/05/hobartmay2.jpg" width="400" height="155">
The median gross rental yield landlords are securing for houses in Hobart, according to <a href="https://www.myrp.com.au/" rel="nofollow" target="_blank">RP Data.</a> The median gross rental yield across Australia's eight capital cities was 4.2% for the month ending April 30, 2013.
<img alt="darwinmay2" src="/images/stories/2013/05/darwinmay2.jpg" width="400" height="138">
The median gross rental yield landlords are securing for houses in Darwin, according to <a href="https://www.myrp.com.au/" rel="nofollow" target="_blank">RP Data.</a> The median gross rental yield across Australia's eight capital cities was 4.2% for the month ending April 30, 2013.
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po-LsXgBTHBmX

What house rental yields investors can expect: RP Data capital city guide

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An unremarkable double-fronted brick veneer villa at Blackburn North was the one occupied for 18 months between 1967 and 1969 by a couple calling themselves Terry and Charmain Cook.
They were subsequently revealed as the notorious 1963 British train robber Ronald "Ronnie" Biggs and his wife, Charmain.
The $24 a week rented house (pictured below) was raided at 8pm on October 18, 1969 by police - the day after Biggs had fled following a news report that Biggs was working as a carpenter on the Tullamarine airport construction under the name of Furminger.
The house is not for sale and indeed hasn't been sold since 1994. It previously sold in 1984.  <a href="/news/great-train-robber-ronald-biggs-former-blackburn-north-melbourne-hideout-sold">But it did sell in 2014 fetching $805,000 at March auction</a>.
It was briefly advertised for sale through the Noel Jones agency in early 2011 as a "three bedroom family home with vitality plus immediate appeal commencing with the eye catching front garden setting. The separate dining room and kitchen-meals overlook the generous rear garden - without doubt a delightful play area for children to enjoy - on its attractive allotment measuring 585 square metres in a neighbourhood that always holds its popularity and value."
No mention was made of its status amid the annals of Australian crime folklore.
Over recent weeks its been top of mind among those who can recall the amazing 1969 events, as Title Tattle does. It follows the current Channel 7 mini-series, Mrs Biggs. Ronald Biggs's former wife, Charmain Brent, as she became known, assisted in the script of the British ITV production from her long-time Melbourne eastern suburbs home which she secured in the early 1970s.
<img src="/images/stories/2013/05/hibiscusmay3one.jpg" alt="hibiscusmay3one" width="470" height="308">
The Hibiscus Road house has been written about in the James Cockington books, Mondo Weirdo and History Happened Here.
In 1960 Ronnie Biggs married Charmian. The Great Train Robbery of August 8, 1963 secured some £2.6 million from a mail train. After being convicted and jailed, he escaped from HM Prison Wandsworth in July 1965 by scaling the wall with a rope ladder. He fled to Paris, where he acquired new identity papers and underwent plastic surgery. 
<img src="/images/stories/2013/05/biggsmay3one.jpg" alt="biggsmay3one" width="470" height="339">
 
Ronnie Biggs flew to Sydney, Australia on a BOAC flight under the name of a Terence Furminger on New Year's Day 1966. Charmain didn't come until June 1967, spending her first night in Darwin. The self-confessed green poms, with no idea, set out and drove from Darwin down to Tennant Creek, and then across through Cloncurry and Julia Creek. They settled in the Adelaide seaside suburb, Glenelg North.
In 1967 shortly after their third child was born, Biggs received an anonymous letter from Britain telling him that Interpol suspected that he was in Adelaide and that he should move. The South Australian 5KA radio announcer Maxwell Phillips had reportedly identified Biggs as Terry King, a boarding house proprietor from late 1966 to early 1967.
With jobs including working in set construction at Channel 9 Melbourne, Biggs and the family resided at Blackburn North, in Melbourne, Australia. The house, built by Monmia Developments within a Hooker Corporation land-subdivision estate, had been sold in 1964 and then rented out by its purchaser, a Richmond small goods distributor.
After his departure from Hibiscus Road, Biggs stayed at the $15 a night Alexander motel in Essendon for the first night. He then stayed at a cottage in Kalorama in the Dandenong Ranges which was raided in the week after his escape from the Victorian police. He'd fled it in the nick of time, just hours before the police raid, possibly because the local fire brigade had been testing its siren earlier that day which reportedly spooked Biggs.
After fleeing to Brazil via Panama in 1970, his wife and sons stayed behind in Australia. There was then the sad 1971 loss of their 10-year-old son Nicholas, who was killed in a car crash after the Biggs had departed Australia aboard the liner Oronsay in February 1970.
Ronald Biggs spent the next three decades of his life a fugitive in Rio De Janeiro, and became something of a media celebrity. In 2001 he voluntarily returned to the United Kingdom and spent several years in prison, where his health declined. In 2009 Biggs was released from prison. Charmain was reportedly the first person Biggs phoned after being released from jail.
Charmian flew to Britain from Australia in early 2012, just before filming began when she visited Ronnie who was ill, as although the couple had divorced in 1976 they remained on good terms.
Charmian appears in the background of one of the five episode mini-series scenes - in the public gallery of the Australian court when the lawyer is arguing for her to be released.
It's possibly her first appearance since her 2001 ABC Australian Story when she advised her wealth didn't stem from the robbery proceeds.
"I was paid $65,000 for the story but the tax man took $40,000 of it. <a href="https://law.ato.gov.au/atolaw/view.htm?locid='JUD/71ATC4195'" target="_blank">It's a case that's in all the law books now</a>. So I was left with enough money to buy this house which was $19,000 at the time," <a href="https://www.abc.net.au/austory/transcripts/s316009.htm" target="_blank">she said</a>.
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jchancellor-FAypfDUnLy

Flashback to the Blackburn North, Melbourne home of the great train robber Ronald Biggs and wife Charmain

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Victorian property owners falsely claiming to live in their holiday homes to avoid land tax bills could get caught by a state government audit.
About 27,000 home owners are expected to be contacted over a three-year period, the Treasurer Michael O'Brien told The Saturday Age ahead of Tuesday's state budget formal annoucement.
O'Brien wants a crackdown against tax dodging, with a new unit team within the State Revenue Office cross-checking information against rental tenancies and Tax Office figures.
The state collects about $1.6 billion a year in land tax.
The crackdown follows O'Brien's concerns that growing numbers of landlords are falsely claiming to live in investment properties and beach houses to avoid land tax.
The new squad, costing $10 million, is expected to net an extra $90 million over four years.
Mr O'Brien said it would improve revenues and equity. ''Every $1 of tax that is evaded is $1 more of tax that people who are doing the right thing have to pay,'' he told Fairfax Media.
<div title="Page 6">
<div>
<div>
Holiday home numbers can be roughly deduced at census time as coastal towns have significantly higher vacancy rates than the Victorian average which sits at around 12%.
In the 2011 census 11 of Australia's 20 highest vacancy rates were located in Victoria. High vacancy rates were recorded in Portsea-Sorrento-Blairgowrie at 76% and Lorne-Anglesea was at 68%.
In the 2006 census the average vacancy rate for Victorian coastal towns was 42%, with 24 towns having vacancy rates above 50%.
High vacancy rates in 2006 were in Smiths Beach and Venus Bay with rates around 82%, followed by Lorne at around 72%.
 
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Land tax evasion audit of Victorian holiday home owners expected to secure $90 million

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Australian listed property trust sector returns to investors in April were the best monthly returns in over three-and-a-half years  and the sixth strongest monthly result since 1992, according to analysis by Goldman Sachs.
<img alt="areit_returns2" height="312" width="470" src="/images/stories/april23tivoli/areit_returns2.jpg">
The Woolworths proprety spin-off Shopping Centres Australasia (SCP) was the only REIT to post a negative return, "although with the highest yield of any REIT and the longest unexpired lease term by a large margin providing high earnings certainty" said Goldman Sachs analysts Simon Wheatley and Andrew MacFarlane.
The analysts said based on this, SCP represented an opportunity for investors.
The best performers were Federation Centres, Dexus, GPT and Charter Hal, which all recorded double digit price gains.
<img alt="areit_returns" height="316" width="470" src="/images/stories/april23tivoli/areit_returns.jpg">
"Interestingly there is no core theme amongst these four REITs.
"One is diversified, one shopping centre focused, one office focused and one funds management focused.
"Despite there being a yield demand theme during the month, these four REITs also were not the best yielders – they currently have prospective average yields of 5.0%, marginally below the sector average," says the report.
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A-REIT returns in April rise to sixth best in 21 years: Goldman Sachs

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The celebrity trainer Michelle Bridges from Channel Ten's The Biggest Loser and her business manager, and recently estranged husband, Bill Moore, have snapped up a Potts Point apartment on the cheap.
The three-bedroom, two bathroom Pomeroy apartment sold through the slimming Richardson &amp; Wrench Elizabeth Bay agent Jason Boon and his conjunctional agent Geoff Cox for $2.9 million recently.
It had previously sold at $3.2 million in early 2010 when the investment was offloaded by the interior designers Marco Meneguzzi and Michael Love.
The society designers had bought it off the plan for $2.4 million in 2004 from Garry Rothwell's Winten Group.
The street side apartment overlooking leafy views towards the CBD skyline as well as the boat-filled Rushcutters Bay from its two terraces was bought just before its scheduled February auction.
It was just before reports of their nine year marriage coming to an end.  Bridges and Moore secured it without any registered finance.
After her meteoric rise from fitness instructing at her nearby Nelson Bay High to becoming Australia's most respected fitness identity, their commercial empire involves Bridges' television show appearances along with her top selling books, including  Losing the Last 5 Kilos and the Crunch Time Cookbook.
The couple bought in Rozelle for $810,000 in 2006.
The apartment was marketed as New York inspired for contemporary low maintenance high quality living and entertaining.
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The Biggest Loser's Michelle Bridges wins big as Potts Point prestige prices shed kilograms

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Vendors should not follow the herd and wait until spring to sell their homes, according to a survey of 25 real estate professionals who will be speaking at a series of property conference organised by Ideas Exchange, which begin in Melbourne today. 
Only 10% of respondents said they would recommend that vendors wait until the spring season with 90% recommending that vendors “Sell it whenever is convenient for you.” 
And respondents did not believe that vendors earned more if a property was sold during the busiest time of the year with 90% of respondents saying they believed you earned “about the same". 
A smaller, but overwhelming majority - 70% of respondents - believe that houses sold as fast at spring as during other times of the year, with only 10% saying they sold faster during spring.
Leanne Howard, managing director of the Real Estate Project, which owns Ideas Exchange, said the results show that every month can be an “equally good” time to sell. 
“This is valuable information for any agent meeting with a vendor this winter, and for any vendor meeting with an agent,” she says.
BradfieldCleary director and auctioneer Bob Guth agrees with these sentiments, blogging that for many years “we have achieved excellent results during winter months”
He quotes an article written by Carolyn Boyd from Talking Property, who says that arrival of cold weather in southern Australia does not mean people stop looking to buy. 
Alex Schiavo, director of Kay &amp; Burton South Yarra and Albert Park in Melbourne, is another estate agent who believes winter is a great time to sell based on the dynamics of supply and demand. 
“In winter there is always a lot less property available and we are still getting great results," he says. 
Cameron Deal from Infolio Property Advisors <a href="https://www.propertyobserver.com.au/https://www.propertyobserver.com.au/news/why-selling-property-in-winter-and-buying-in-spring-makes-sense/2012080155808" target="_blank">told Melbourne Property TV last autumn</a> that a lot of property transacted through winter. 
“It’s sometimes better for a vendor to sell in winter because there’s less competition amongst other properties,” he says. 
A similar sentiment is echoed by Fletchers director Tim Fletcher, who says  if you decide to sell your most important asset over the winter period you’ll join a small number of people who are selling because most people either do it over autumn or spring.”
“So I think it’s a smart move to think about selling when there are fewer properties on the market.”
Information on the Ideas Exchange series of conferences in Melbourne, Brisbane and Sydney can be <a href="https://therealestateproject.com.au/ideas-exchange-2013/" target="_blank">found here.</a>
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Winter may be a better time than spring to sell your property: survey

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Private developers are being asked to submit proposals for ways to develop the Jolimont rail yards site known as Federation Square East on the north bank of the Yarra, where proposals date back to the 1970s.
The site is bounded by Federation Square to the west, Flinders Street to the north, Batman Avenue to the east and Birrarung Marr to the south and would require the building of a roof over the railway lines that currently take up the majority (2.3 hectares) of the 3.3 hectare site.
<img src="/images/stories/2013/05/fedsquaremay3four.jpg" width="470" height="350" alt="fedsquaremay3four">
The remaining hectare is currently used for car parking and associated uses.
“The Coalition Government is looking to harness the innovation and creativity of the private sector for proposals to develop this important site,” announced Victorian minister for major projects David Hodgett.
The state government is seeking a proposal for a “viable landmark development” that could result in a similar public-private partnership (PPP) structure that is facilitating the $2.5 billion redevelopment of the Darling Harbour convention centre with Lend Lease leading the project.
<img src="/images/stories/2013/05/fedsquaremay3three.jpg" width="470" height="247" alt="fedsquaremay3three">
The Victorian government is undertaking a world-wide search for proposals to transform what it calls a “black hole in the city landscape to a mixed-use precinct with a focus on civic functionality and improved connections with its surrounding areas”.
Hodgett acknowledges concerns expressed in the media that the project may prove too costly to ever complete.
A budget of $680 million has been suggested with $450 million coming from the state government.
“The Coalition Government acknowledges that there are challenges to developing this site in terms of cost and construction. We believe that industry is best placed to come up with innovative, value for money solutions.
“The aim is to find out what is possible and how much interest there is in developing the site. We do not have a predetermined outcome in mind.
“The responses provided will determine if there is sufficient appetite from the market and whether any project is viable enough to proceed further,” Hodgett says.
Both sides of state politics have failed to come up with a viable development proposal.
In 1979 Victorian Liberal premier Rupert Hamer announced a $100,000 competition to roof the Jolimont rail yards and bring international attention to the city. The competition committee, chaired by Ron Walker, chose 48 finalists from around 2,300 entries.
The winning designs went on public display in January 1980.
No single winner was chosen, the committee recommending a composite scheme featuring a large tower in a garden setting.
According to a 2001 document prepared by Melbourne historian Andrew Brown-May “critics lampooned the competition as an ill-conceived waste of time and resources, and each of the 48 finalists received a little over $2000 prize money.
“Judging panel member Professor Patrick McCaughey was appalled by the low standard of entries, describing the winners as demonstrations of 'a megalomania that makes the pyramids look like pimples'.”
Submissions included hanging gardens, an underwater gallery, a free-standing escalator, a series of 12 transparent arches, a solar-powered earth beam, a Freedom Bird Park, and a Time Tower.
In 2010, John Brumby’s Labor government came up with a $680 million proposal prepared by architectural firm LAB (designers of the Federation Square fractal building) including a plazas, parklands, schools and hotels built on a platform above the train lines.
The proposal (pictured below) was based on Chicago's Millennium Park on Lake Michigan.
<img src="/images/stories/2013/05/fedsquarelabarchmay3one.jpg" width="470" height="443" alt="fedsquarelabarchmay3one">
This proposal was lambasted by former premier Ted Bailleu, who, while in opposition, called it nothing more than a “tiara on top of the car park”.
Submission for the development close on July 18 with submissions to be made to <a target="_blank" href="https://www.mpv.vic.gov.au">Major Projects Victoria</a> 
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Victorian government turns to private developers to fill Federation Square East “black hole”

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Home values are typically looked at in unadjusted or nominal terms, however, adjusting for the effects of inflation can provide a useful insight into how the housing market has performed and why home value growth has picked up since the middle of 2012.
While often measured in unadjusted or nominal terms, it’s important to note that home value growth highlights the true change in values however, having an understanding of ‘real’ movement in home values.
This is done by adjusting value changes for the effects of inflation.
Analysing home value changes in real terms allows greater insight into how the housing market has performed relative to the level of inflation in the economy.
The RP Data-Rismark Home Value Index results showed that home values across the combined capital cities rose by 2.8% over the first quarter of 2013 while CPI was measured at just 0.4% which in real terms means that home values increased by a slightly lower 2.4% over the quarter.
As Mr Kusher points out, home value growth was significantly lower over the period of March 1996 to March 2013 when inflation is taken into consideration.
<img alt="kushermay3one" height="246" width="470" src="/images/stories/2013/05/kushermay3one.jpg">
He found that combined capital city home values increased by 241% over the period in nominal terms, but in real terms they have increased by a significantly lower 121%.
Although nominal values have risen over recent years, in real terms, capital city home values are currently at a similar level to what they were in September 2007.
Quarterly capital city house values were -3.3% lower than their September 2010 quarter peak over the first quarter of 2013.
Unit values across the combined capital cities also peaked over the September 2010 quarter and at the end of the first quarter of 2013 they were -0.9% lower.
If the results are adjusted for inflation, each peak was also recorded in September 2010 however, house values are currently -8.9% below their peak and unit values are -6.6% lower.
In nominal terms, all cities and product types have recorded an increase in values since their respective lows, highlighting the pick-up in home value growth since the second quarter of 2012.
When adjusted for inflation the results are quite dramaticallydifferent in some instances.
Sydney, Brisbane, Perth and Hobart had the most notable differences.
<img alt="kushermay3two" height="225" width="470" src="/images/stories/2013/05/kushermay3two.jpg">
When adjusted for inflation, the Sydney market peaked in the first quarter of 2004 and house values remain -8.7% lower than their peak and unit values are -3.4% lower.
 
<hr class="system-pagebreak">
In Brisbane, house values peaked in the first quarter of 2008 and are -16.7% below their peak, and unit values peaked in the final quarter of 2009 and are -12.8% lower.
House values in Perth peaked in the third quarter of 2007 and are currently -11.8% lower while unit values peaked in the final quarter of 2009 and are -10.5% lower.
Finally, Hobart house values are currently -17.0% lower than their fourth quarter of the 2007 peak while unit values are -13.8% lower than their second quarter of 2009 peak.
According to Mr Kusher, over recent years, rising costs across the economy have outstripped the increase in home values.
As a result, the relative affordability of home values has shown some subtle improvement over this time.
<img alt="kushermay3three" height="217" width="470" src="/images/stories/2013/05/kushermay3three.jpg">
This would also seem to indicate why there has been an increase in home values over recent months given that in inflation-adjusted terms values are at asimilar level to what they were at the end of the September 2007 quarter.
The fact that ‘real’ home values have remained below their peak for a much longer period of time in Sydney and Perth is a reflection of why these two housing markets have recorded some of the strongest rebounds in home values of all capital cities over recent times.
Looking forward, RP Data analysts have already seen that the rate of home value growth has slowed throughout April.
It’s important to keep in mind that value growth is typically strongest over the first quarter of the year.
Given this, we would expect that increases in home values will continue to track fairly closely to inflation, or perhaps slightly higher based on the low mortgage rates, over the coming year.
Cameron Kusher is senior research analyst at <a href="https://www.myrp.com.au/" rel="nofollow" target="_blank">RP Data</a>.
 
 
 
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ckusher-ujnxiKuFQs

Analysing home value changes in real terms allows greater insight into housing market performance: Cameron Kusher

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The value of investment loans written in February surged to their highest level since the GFC, according to RateCity.com.au analysis of ABS housing finance data.
Investors borrowed $7.9 billion for property investment purchases in February 2013.
This is the highest value of investment loans written in one month since January 2008.
The previous highest value of investment loans written in one month was in June 2007, with over $9.1 billion, according to <a href="https://www.ratecity.com.au/" target="_blank">RateCity</a>.
According to RateCity spokesperson Michelle Hutchison, while the residential home loan market is a much bigger pool of money compared to investment loans – $13.9 billion compared to $7.9 billion – the growth rate in the former is a lot higher.
“In fact, the total value of investment loans grew three-times faster than residential loans (15.4% or $1.05 billion compared to 5.3% or $699 million),” she says.
Analysis of the RateCity.com.au database of home loan providers prepared for Property Observer shows that investors can source loans suitable for property investors starting from as low as 4.99%.
These are the cheapest advertised fixed and variable loans suitable for investment purposes currently on RateCity.com.au (May 3, 2013): 
RateCity’s top variable investment loans
<table style="width: 470px;" border="0" cellspacing="0" cellpadding="0"><tbody>
<tr>
<td width="143">
Company 
</td>
<td width="217">
Product 
</td>
<td width="151">
Rate
</td>
</tr>
<tr>
<td width="143">
loans.com.au
</td>
<td width="217">
Investment Blackboard Special (Purchase Only)
</td>
<td width="151">
4.99%
</td>
</tr>
<tr>
<td width="143">
State Custodians
</td>
<td width="217">
Investment Peak Performance Offset
</td>
<td width="151">
4.99%
</td>
</tr>
<tr>
<td width="143">
UBank
</td>
<td width="217">
Investment UHomeLoan (for refinancing)
</td>
<td width="151">
5.12%
</td>
</tr>
<tr>
<td width="143">
eMoney
</td>
<td width="217">
Investment Pro Pack 75
</td>
<td width="151">
5.20%
</td>
</tr>
<tr>
<td width="143">
iMortgage
</td>
<td width="217">
Investment Fusion ProPack Variable 75
</td>
<td width="151">
5.24%
</td>
</tr>
<tr>
<td width="143">
Pacific Mortgage Group
</td>
<td width="217">
Investment Variable
</td>
<td width="151">
5.27%
</td>
</tr>
<tr>
<td width="143">
Macquarie Bank
</td>
<td width="217">
Premium Investment Premium Variable 1000k+
</td>
<td width="151">
5.34%
</td>
</tr>
<tr>
<td width="143">
Rate Busters
</td>
<td width="217">
Investment Ultimate
</td>
<td width="151">
5.34%
</td>
</tr>
<tr>
<td width="143">
Newcastle Permanent
</td>
<td width="217">
Premium Plus Package Investment Premium Variable 250-499k
</td>
<td width="151">
5.37%
</td>
</tr>
<tr>
<td width="143">
HSBC
</td>
<td width="217">
Premier Investment Variable 1500k+
</td>
<td width="151">
5.40%
</td>
</tr>
</tbody></table>
RateCity’s top three-year fixed investment loans
<table border="0" cellspacing="0" cellpadding="0" style="width: 470px;"><tbody>
<tr>
<td width="143">
Company
</td>
<td width="217">
Product
</td>
<td width="151">
Rate
</td>
</tr>
<tr>
<td width="143">
ME Bank
</td>
<td width="217">
Investment SuperMember Fixed 3 years
</td>
<td width="151">
4.99%
</td>
</tr>
<tr>
<td width="143">
AMP Bank
</td>
<td width="217">
Affinity Package Investment Fixed 3 years 100k+
</td>
<td width="151">
5.04%
</td>
</tr>
<tr>
<td width="143">
A M O Group
</td>
<td width="217">
Investment Fixed 3 years
</td>
<td width="151">
5.09%
</td>
</tr>
<tr>
<td width="143">
iMortgage
</td>
<td width="217">
Investment Fusion Fixed 75 3 years
</td>
<td width="151">
5.09%
</td>
</tr>
<tr>
<td width="143">
ING DIRECT
</td>
<td width="217">
Investment Fixed 3 years
</td>
<td width="151">
5.09%
</td>
</tr>
<tr>
<td width="143">
CUA
</td>
<td width="217">
Investment Fixed 3 years
</td>
<td width="151">
5.10%
</td>
</tr>
<tr>
<td width="143">
RESI Mortgage Corp
</td>
<td width="217">
Investment FlexiFix Plus 75 3 years
</td>
<td width="151">
5.12%
</td>
</tr>
<tr>
<td width="143">
UBank
</td>
<td width="217">
Investment UHomeLoan Fixed (for refinancing) 3 years
</td>
<td width="151">
5.13%
</td>
</tr>
</tbody></table>
Source: RateCity.com.au, based on lowest advertised rates, available to the general public, conditions and fees apply.
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