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“Minister Chanthivong and his team have shown real leadership in replacing an outdated two-year bond with cover that matches the lifespan of the buildings people are buying into.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

Joel Robinson

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

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

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

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

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

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

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

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

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

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

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

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

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

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

Every First Home Owner Grant for new property by state

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

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

Staff Writer

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

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

alisonwarters@gmail.com

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

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

Ellen Walker

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

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

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

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The narrowest cap between the reported weekly sales of houses and units was Melbourne, at just $7000 difference, according to the latest RP Data release.
Melbourne had a $427,000 median house price and $420,000 for unit prices. The next closest gap was Brisbane. Darwin had the biggest gap between the housing options.
<img alt="rpdatamediansapril30onethumb" src="/images/stories/2013/04/rpdatamediansapril30onethumb.gif" width="470" height="276">
 
<img alt="rpdatamediansapril30twothumb" src="/images/stories/2013/04/rpdatamediansapril30twothumb.gif" width="470" height="205">
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Narrow gap in Melbourne amid capital city private treaty medians: RP Data

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Hi Margaret,
I have a number of properties in my portfolio and I know that you do too.  Can I ask – do you have yearly pest inspections done on each property?  My agent says I need to do this, but this is quite costly and usually it doesn’t turn up anything.  Are they required, or is the property manager on a commission with the pest inspection companies?
Sarah
 
 
Hi Sarah,
Mostly we need to be able to trust our property managers to advise us on what we need to do with our properties, and when, but you don’t have to take all of their suggestions on board and carry them out.  In the end you are the owner and common sense should always prevail.  Whether you get yearly inspections done, or not, is up to you and will depend upon many things including the age of the property and its history of pest activity.
My suggestions are:
<ul>
<li>Ensure that, before buying, you get a pest inspection done.  Your legal person or real estate agent should be able to point you to a qualified professional</li>
<li>Read and be familiar with it – it will outline the risks for the future.  You might even use this as a negotiating tool</li>
<li>Some properties at higher risk may need regular inspections and I highly recommend yearly in this case</li>
<li>Others, and depending upon your report, you can probably do every 2 or 3 years, but always read the reports thoroughly.</li>
</ul>
Some property managers will automatically suggest pest inspections be done yearly, and while I don’t think they are on any commissions for this, they may not always be necessary.  I always tell all of my property managers not to arrange anything without my prior approval, and I treat each property differently, according to its age, the level of risk it has and the findings in that original pest report.
Margaret Lomas is a best-selling author and writes and hosts the popularProperty Success With Margaret Lomas and heads up the panel onYour Money, Your Call, both on Sky News. She is the founder of <a rel="nofollow" target="_blank" href="https://destiny.com.au/dotnetnuke/en-au/home.aspx">Destiny</a>.
Have a property question? <a target="_blank" href="mailto:askmargaret@propertyobserver.com.au">Ask Margaret!</a>
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mlomas-KC9MUPZ6Ca

Ask Margaret: do I need annual pest inspections on my investment properties?

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Recently one of my sons who has taken a keen interest in property investment asked: “Dad, what’s the worst advice you’ve ever been given on real estate investing and what’s the best advice you could give me?”  
The worst advice:
I explained that the worst real estate investment advice I was given was that property investment is easy.  
This was clearly wrong because most property investors fail!  
Look at the facts: 50% of those who get into property investment sell up in the first five years and of those who keep their properties, the vast majority never ends up owning more than one or two properties. This means they don’t ever achieve the financial independence they desired.  
However, over the years I have found that property investment is simple, but not easy.  And that’s not a play on words.  
It’s simple if you follow a proven formula but it’s really hard to become wealthy in property if you do what everyone else is doing. While many investors chase cashflow or the next hot spot, I’ve found successful investors build their asset base.  
Over the years I have developed a four-stranded strategic approach to property investment that ensures the properties I buy will outperform the market averages.
<ol start="1">
<li>
I buy a property below its intrinsic value.
</li>
<li>
In an area that has a long history of strong capital growth
</li>
<li>
I look for a property with a twist – something unique or special or different or scarce about it.
</li>
<li>
And a property where I can manufacture capital growth through refurbishment, renovations or redevelopment.
</li>
</ol>
This means I minimise my risks and maximise my upside as each strand represents a way of making money from property. Combining all four is a powerful way of putting the odds in my favour. If one strand lets me down, I have two or three others supporting my property’s performance.
The best advice I’ve been given:
When I first became involved in property investment I didn’t understand the cyclical nature of the property market – my only experience was a rising property market.  
An early mentor taught me to prepare for the lean times by having a cashflow reserve to see me through the down times of the property cycle or to handle unforeseen expenses.  
Rather than use my full borrowing capacity and buy the most expensive property I could afford, I learned the concept of setting aside a buffer.  
While I was initially concerned that I was not using my full borrowing capacity, having this safety net helped me get through the high interest rate period of the early 1990s, while many other investors had to sell up their properties.  
It’s a lesson I’ve never forgotten and has let me sleep peacefully at night through five property cycles.  
Another piece of good advice – treat your property investments like a business
Over the years I’ve seen a small group of property investors, those who treat their investments like a business, become very, very rich by growing a multi-million dollar investment property portfolio.  
They do this requires understanding of “the system”, getting the right type of finance, setting up the correct ownership and asset protection structures and knowing how to legally use the taxation system to your advantage.  
Let's face it: the majority of Australians will be always be employees but we all have the ability to become financially free by becoming property investors who treat their investments like a business. And you can set up your own property investment business while you are still an employee or self-employed.  
In fact, that’s what I did and what almost every wealthy property investor I know has done.  
They built their wealth by growing their real estate portfolio one property at a time. While this was going on they lived off the income they earned from their day job.  
They started off with one property, then leveraged off its capital growth to invest in another and another until one day they found themselves with a true property investment business.  
One that gave them financial freedom and choices in their lives.
Michael Yardney is a director of <a href="https://www.metropole.com.au/" rel="nofollow">Metropole Property Strategists</a>. 
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myardney-DFoGhGbSJX

The best and worst property investment advice I've received: Michael Yardney

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Approvals to build new houses and apartments fell 5.5% in March in seasonally-adjusted terms and 1.2% in trend terms.
Trend falls of 3.7% and 3.6%  were recorded in NSW and Victoria respectively, according to the ABS, which highlighted the trend figures as being less volatile than seasonally-adjusted numbers.
The fall in NSW approvals will be noted given the state has been incentivising the purchase of new homes with its $15,000 first-home buyer (FHB) grant since October 1 last year.
Victoria will introduce its $10,000 FHB for new homes only from July 1.
Private sector house approvals were up 0.4% to 7,586 dwellings with the more volatile unit approvals down 8.3% to 4,859 dwellings.
In trend terms approvals were down 1.2% with private sector house approvals up 0.2% and unit approvals down 3.1%.
The number of dwellings approved have fallen in the first 3 months of 2013, in trend terms, following a period of growth throughout 2012.
Westpac commented that dwelling approvals "continue to make a disconcertingly soft start to 2013" with the fall in March fall "against expectations of a modest 1.5% gain and suggests the recovery apparent through much 2012 has lost momentum".
Westpac notes the volatile nature of unit approvals, but estimates that 'low to mid rise units', which is less volatile than the 'high rise' sub-segment, has seen five consecutive monthly declines in approvals.
"That suggests the March decline is not simply due to volatility but reflects a broader loss of momentum."
The ABS dwelling approvals also decreased in March in Tasmania (-3.5%) but increased in Queensland (2.4%) which also has a $15,000 FHB new home grant, Western Australia (0.7%) and South Australia (0.2%) in trend terms. Dwelling approval trends have been rising for over a year in Western Australia (14 months) while falling for the last year (12 months) in Tasmania. In trend terms, approvals for private sector houses rose 0.2% in March, having been essentially stable since September last year.
Private sector house approvals rose in Western Australia (2.3%) and New South Wales (0.6%).
In New South Wales the trend has been rising since March last year (12 months).
Private sector house approvals trends fell in Victoria (-0.9%), South Australia (-0.7%) and Queensland (-0.7%). Only Queensland has maintained a fall over the last year (13 months). The trend value of total building approved rose modestly (0.1%) in March and has now risen for 14 months. The value of residential building fell 2.4% while non-residential building rose 3.6%.
The ABS says it focuses on movements in the trend "as seasonally adjusted month to month movements can be highly volatile and are not necessarily indicative of the underlying strength in approvals data":.
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lschlesinger-FZcF9M3vE6

Dwelling approvals "lose momentum" with surprise fall of 5.5% in March led by NSW and Victoria: ABS

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Centuria’s fast expanding property funds management business is targeting Asian investors looking to qualify for the $5 million significant investor visa (SIV) with all its unlisted property trusts now compliant with the program.
It comes as Centuria settled on its acquisition of the 17-level 175 Castlereagh tower from Stockland for $56 million and launched its latest single property syndicate for its 10 Spring Street acquisition.
ASX-listed Centuria, which plans to launch a listed property trust later this year headed by former Mirvac boss Nick Collishaw, bought the 10 Spring Street office tower from John Swire &amp; Sons for $91.6 million with its 10 Spring Street Fund offering investors a forecast distribution of 8%.
The 175 Castlereagh fund launched in February offering a return 9% in its first year growing to 9.25% in year two and closed oversubscribed.
Centuria entered into a conditional contract to acquire the building from Stockland in January and settled this week on an initial yield of 7.7%.
A brochure advertising the 10 Spring Street Fund, which has a minimum $100,000 requirement to be held for 5.5 years and closes on June 13, says it is a "complying investment for investors seeking nomination by the NSW State Government for a Significant Investor Visa (SIV)", which requires a minimum $5m investment.
Jason Huljich, CEO of Centuria Property Funds, tells Property Observer, in the last few months, there has been a noticeable increase in enquiries from investors with significant visa aspirations.
He explains that investors do not need to invest the entire $5 million in one hit, but can spread it around over a number of investments.
Investors cannot qualify for a visa by making a direct $5 million property investment but can invest in unlisted managed fund that holds Australian direct property assets.
“Many of the investors in our 175 Castlereagh fund were high net worth individuals who invested above the $100,000 minimum requirement,” Huljich says.
No SIVs have yet been issued by the Department of Immigration, but<a href="/news"> Property Observer reported last week</a> that 222 invitations had been issued to investors, 212 of them to Chinese investors.
Almost half (101) of these invitations are for applicants looking to invest in NSW, with 81 in Victoria and 29 in Queensland.
Commenting on the decision to buy 175 Castlereagh Street, Huljich said Centuria liked the mid-town location right next to the new 43 level ANZ building at 161 Castlereagh nearly completed by GPT, which is sparking a revival in what has been a somewhat unloved part of the Sydney CBD.
“It’s tidying up the area and also adding retail to the mix,” he says.
The building was valued at $53 million by Stockland last year covering 12,000 square metres of office space over 13 levels plus four levels of underground parking and ground floor retail.
”Stockland had spent a lot of money refurbishing 175 Castlereagh and it now has a NABERS Five Star energy rating," sasy Huljich.
The building is anchor tenanted by a number of NSW state government departments, which have just renewed their leases for three and four year terms, lifting the weighted average lease expiry (WALE) term from 1.4 years to in excess of three years.
The 2012 Stockland property portfolio review says the building brings in passing rent of $521 per square metre placing it in the mid-range of Stockland’s office portfolio.
Stockland has its headquarters just down the road at 133 Castlereagh and also owns 9 Castlereagh, the Harry Seidler designed 31 level A grade office tower, valued at $172.5 million.
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Centuria targets significant investor visa aspirants with Sydney office property syndicate investment opportunities

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With a slight easing in Sydney, Canberra dwellings are currently spending the shortest average time on market at 70 days, according to the latest information from Australian Property Monitors.
<img src="/images/stories/2013/04/daysonmarketapmapril29onethumb.gif" alt="daysonmarketapmapril29onethumb" width="470" height="642">
Source: Australian Property Monitors
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Canberra and Sydney swap places as fastest selling capitals: APM days on market heat chart

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Australia’s economy will stay soft for “another year or two” as the mining investment boom peaks and begins an orderly decline leaving the economy "with no clothes", says BIS Shrapnel chief economist Frank Gelber.
A turnaround, he writes in his weekly column in The Australian, will only occur when first residential and then non-mining business investment rises to stimulate the economy.
Gelber does not expect non-mining profits to pick up and add to budget revenue until the 2014-15 tax year.
As a result, he says, “the miracle economy" supported by "transitory" revenues from the mining sector "has no clothes” - a reference to the Hans Christian Andersen fairy tale, where an emperor is swindled into walking around in the nude, thinking the fine clothes he is wearing are "invisible to anyone who was either stupid or not fit for his position".
Everyone goes along with the charade out of fear until a small child points out the emperor has "nothing on".
In the context of his column, Gelber is pointing out an obvious truth about the economy that many continue to deny: that the mining boom investment miracle is at an end.
Gelber expects there will be no easy fix to the budget deficit, with whoever wins power in September unlikely to take the extremely unpopular decision of raising taxes to the extent of putting the government finances back in the black.
He says an expected budget deficit of around $10 billion will not be a problem in itself, but what will be an issue is a rising budget deficit with the government locked into further increases in expenditure in the future.
Gelber expects a combination of continued budget deficits, expenditure cuts and tax increases over the next election cycle.
In particular he expects significant cuts to infrastructure spending over the next few years as well as significant cuts to public service employment.
He also warns of the risk of a more significant fall in mining investment further down the track, but says Australia is safe “for another two to three years with projects already committed”.
“The question is about the next round of projects and work done in the second half of this decade,” he says.
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End of mining boom will leave Australian economy “with no clothes”: Frank Gelber

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Sydney CBD prime office property yields are set to firm by close to 100 basis points over the next three years.
However, according to BIS Shrapnel, it will take until late this decade for average prime commercial yields to approach to their pre-GFC (2007) low and the property forecasting company does not expect average prime yields to reach the lows achieved in the late 1980s boom at all this cycle.
BIS Shrapnel’s just released Sydney Commercial Property Prospects 2013 to 2023 report concludes that the main phase of yield compression between now and 2015 will occur during 2014 and 2015.
The next 12 months will see relatively little tightening in yields because the leasing market remains quite soft.
The missing ingredients are sustained rental growth, underpinned by strong leasing conditions, and investor expectation of capital gain.
There has been a lot of discussion recently about if and when Sydney prime office market yields will firm to underpin strong price rises.
And whether the weight of money chasing property assets will cause yields to firm.
Over the last 12 to 18 months, office sales in the Sydney CBD have ticked along at a reasonable pace, but they have not delivered conclusive evidence of an across-the-board reduction in yields.
Many market commentators believe a significant firming is imminent given the historically high margin between office property yields and 10 year bonds, viewed as the risk free rate for investment returns.
However, BIS Shrapnel believes it will take more than this.
Unlike retail and industrial property, we have never been able to identify a significant independent influence from long term bonds on the formation of Sydney CBD prime office yields.
And while BIS Shrapnel agrees that the current strong investor demand for quality commercial assets, particularly in CBD locations, from both foreign and domestic players is likely to contribute to some yield tightening, they note that most investors are currently focused on yield, not capital gain.
BIS Shrapnel considers that a significant improvement in yields will await a more substantial rise in rents and growing expectation of capital gain.
Right now, the Sydney CBD office leasing market remains quite weak, with low levels of net absorption, a vacancy rate around 7% and only modest rental growth.
The last time prime property yields in the Sydney CBD firmed significantly was between 2006 and 2007, notably a period when the CBD vacancy rate fell below 4% and growth in gross effective rents was close to 30%.
On BIS Shrapnel’s forecasts, a steady recovery in the CBD leasing market over the next two to three years will see vacancy rates fall below 5%, triggering a strong recovery in rents.
In an environment of rising rents, competition for properties is expected to increase, with investor focus moving toward total returns (both yield and price growth).
As expectation of capital gains increases, prime yields are forecast to fall more sharply.
By 2015, BIS Shrapnel forecast CBD prime average yields will fall to 5.8%, down from 6.7% at December 2012, underpinning a strong rise in property prices.
And later in the decade, as the market experiences a second phase of stronger leasing and investor demand, the yield tightening will continue.
Lee Walker is senior project manager - property at <a target="_blank" href="https://www.bis.com.au/">BIS Shrapnel</a>.
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Sydney CBD prime office yields won't approach pre-GFC lows until late in the decade: BIS Shrapnel's Lee Walker

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The Dahlsen hardware family run by former BRW rich lister John Dahlsen  is selling its historic Ballarat hardware site after being muscled out by Coles-owned Bunnings and Woolworth’s fast expanding Masters DIY chain. 
The store on the site was run as Dahlsens Hardware by a local family for the past seven year but the site was previously home to the oldest hardware chain in Ballarat, Coltmans Mitre Ten, dating back to the gold rush, which was later sold to Dahlsens. 
<img src="/images/stories/2013/05/dahlsensmay2one.jpg" width="470" height="323" alt="dahlsensmay2one"> 
John Dahlsen, a fifth generation Dahlsen, is the chairman of the hardware chain started when John Christian Dahlsen opened of timber yard business in 1877 after travelling to Gippsland in search of gold. 
Of late it has been exiting from the retail side of the DIY market, unable to compete with the market power wielded by Coles and Woolworths. 
Last month, Dahlsen sold <a target="_blank" href="/news">hardware store premises in the Gippsland town of Sale</a>, leased by Bunnings, for $6.36 million to a Melbourne-based private family on a yield of 7.5%.
<img src="/images/stories/2013/05/dahlsensmay2two.jpg" width="470" height="274" alt="dahlsensmay2two">
Bunnings recently relocated from its original Wendouree premises to a new, 8,400 square metre purpose-built store in Creswick Road.
Woolworths in its joint enture with US home improvement chaing Lowe's plans to open a new Masters store at a site also in Wendouree. 
Last year, competition regulator the ACCC, blocked Woolworth’s attempt to acquire three hardware stores in Ballarat over concerns it would reduce competition in the local DIY market.
Market sources suggest Dahlsens expects around $7 million-plus for the 15,400 square metre site at 55-63 Albert Street, Sebastopol which incorporates 5,365 square metres of building space, 8,240 square metres of hardstand and a sealed car park for 125 cars. 
The sales campaign is being led by Colliers International agents Charles Kennedy, Andrew Lewis and Tom Noonan on behalf of the Dahlsen family. 
Noonan says strong interest is expected from major retailers looking to position themselves close to other strong national retailers including Woolworths and Aldi, as well as a number of development groups.
“Retail offerings of this scale are not common in regional markets such as Ballarat, and the recent portfolio sale of Shepparton CBD retail properties which included 16,766 square metres of additional zoned retail land to the Lascorp Development Group, showed the continued interest from Melbourne-based groups looking to capitalise on the significant growth prospect in Victoria regional areas,“ he said.
Charles Kennedy says the property is in a key location in a major Ballarat retail precinct, within a strong growth corridor and a strengthening commercial activity zone.
“Dahlsens have chosen to get out of retail/DIY hardware in this area and concentrate on operating on a trade-only basis, as a result the company’s large site in Ballarat’s Sebastopol area is now being offered for sale,” Kennedy says.
The property will be offered with vacant possession and will be sold by expressions of interest closing May 17.
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Coles vs Woolies DIY battle sees Dahlsens sell gold rush era hardware site in Ballarat

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<img src="/images/stories/2013/05/melbourneunitsmay1.jpg" width="400" height="159" alt="melbourneunitsmay1">
The median gross rental yield landlords are securing for units in Melbourne, according to <a rel="nofollow" target="_blank" href="https://www.myrp.com.au/" style="font-size: 14px;">RP Data.</a> The median gross rental yield across Australia's eight capital cities was 4.9% for the month ending April 30, 2013.
<img src="/images/stories/2013/05/adelaideunitsmay1.jpg" width="400" height="162" alt="adelaideunitsmay1">
The median gross rental yield landlords are securing for units in Adelaide, according to <a href="https://www.myrp.com.au/" target="_blank" rel="nofollow" style="font-size: 14px;">RP Data.</a> The median gross rental yield across Australia's eight capital cities was 4.9% for the month ending April 30, 2013.
<img src="/images/stories/2013/05/hobartunitsmay1.jpg" width="400" height="158" alt="hobartunitsmay1">
The median gross rental yield landlords are securing for units in Hobart, according to <a href="https://www.myrp.com.au/" target="_blank" rel="nofollow" style="font-size: 14px;">RP Data.</a> The median gross rental yield across Australia's eight capital cities was 4.9% for the month ending April 30, 2013.
<img src="/images/stories/2013/05/sydneyunitsmay1.jpg" width="400" height="172" alt="sydneyunitsmay1">
The median gross rental yield landlords are securing for units in Sydney, according to <a href="https://www.myrp.com.au/" target="_blank" rel="nofollow" style="font-size: 14px;">RP Data.</a> The median gross rental yield across Australia's eight capital cities was 4.9% for the month ending April 30, 2013.
<img src="/images/stories/2013/05/perthunitsmay1.jpg" width="400" height="158" alt="perthunitsmay1">
The median gross rental yield landlords are securing for units in Perth, according to <a href="https://www.myrp.com.au/" target="_blank" rel="nofollow" style="font-size: 14px;">RP Data.</a> The median gross rental yield across Australia's eight capital cities was 4.9% for the month ending April 30, 2013.
<img src="/images/stories/2013/05/brisbaneunitsmay1.jpg" width="400" height="165" alt="brisbaneunitsmay1">
The median gross rental yield landlords are securing for units in Brisbane, according to <a href="https://www.myrp.com.au/" target="_blank" rel="nofollow" style="font-size: 14px;">RP Data.</a> The median gross rental yield across Australia's eight capital cities was 4.9% for the month ending April 30, 2013.
<img src="/images/stories/2013/05/canberraunitsmay1.jpg" width="400" height="167" alt="canberraunitsmay1">
The median gross rental yield landlords are securing for units in Canberra, according to <a href="https://www.myrp.com.au/" target="_blank" rel="nofollow" style="font-size: 14px;">RP Data.</a> The median gross rental yield across Australia's eight capital cities was 4.9% for the month ending April 30, 2013.
<img src="/images/stories/2013/05/darwinunitsmay1.jpg" width="400" height="139" alt="darwinunitsmay1">
The median gross rental yield landlords are securing for units in Darwin, according to <a href="https://www.myrp.com.au/" target="_blank" rel="nofollow" style="font-size: 14px;">RP Data.</a> The median gross rental yield across Australia's eight capital cities was 4.9% for the month ending April 30, 2013.
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