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“Minister Chanthivong and his team have shown real leadership in replacing an outdated two-year bond with cover that matches the lifespan of the buildings people are buying into.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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Beer, food and beverage maker Lion will relocate its WA headquarters to the redeveloped historic Old Swan Brewery mixed use development on Mount Bay Road, south of the Perth CBD.
Originally established in 1857, the former grand Edwardian brewery building was fully restored and refurbished by Multiplex in 2001. 
It is a coming home in a sense for Lion given that the original occupier of the historic building was Swan Breweries – a company that was purchased by the since renamed Lion Nathan between 1990 and 1992.
Lion will occupy the entire first level of the redeveloped brewery, which is located at 171 Mounts Bay Road. 
CBRE Office services director Luke Bray negotiated the five-year lease over the 1,243 square metres office floor.
The lease commences this month. 
Bray says the building’s high profile, city fringe location and the unique nature of the space had been major draw cards for Lion, which was moving its offices from Canning Vale ahead of relocating its brewing operations interstate.
“Old Swan Brewery is one of Perth’s most identifiable buildings, combining three levels of office accommodation with restaurants and luxury apartments,” Bray says.
“All areas boast panoramic views of the Swan River, with the site also benefitting from its prestige location next to Kings Park, close proximity to the CBD, ease of access to the Mitchell and Kwinana freeways and abundance of on-site car parking.”
Upon completion of the refurbishment, Multiplex (now Brookfield Multiplex) moved into levels 1 – 3 of the building and today the company still occupies two floors in the building.
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lschlesinger-FZcF9M3vE6

Lion comes full circle as it relocates offices to Perth's Old Swan Brewery

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The latest HIA new home sales report suggests further woes for the outer Melbourne fringe land market with new detached house sales falling 13.7% in Victoria over February.
The state led a 5.3% seasonally adjusted national decline in new home sales over February reflecting a 4% reduction in detached house sales and an 11% drop in multi-unit sales.
Sales of new detached houses fell 2.8% in New South Sales and 6.7% in South Australia.
Increases in detached house sales occurred in both Western Australia (+1.9%) and Queensland (+0.8%) during February.
The results are based on a survey of Australia's largest volume builders
“These data are disappointing in the context of the growth in sales over previous months,” says HIA senior economist, Shane Garrett.
“The broadly based decline in activity during February is a reminder of how delicate the nascent recovery in the housing industry really is. 

“If we take a broader view of the situation, the overall direction of activity is still quite encouraging.
“New home sales are up strongly over the last three months in almost all states, in terms of both houses and multi-units. 

“Nonetheless, February’s data emphasise how far housing market activity has fallen from the levels of just three years ago. The industry is struggling in the current economic environment and strong policy measures will be required to bring market activity back up to levels consistent with Australia’s long term requirements."

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New home sales "stumble" in February led by 13.7% drop in Victoria: HIA

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New South Wales leads Australian states in new residential listings activity, up 14.6% (seasonally adjusted) in the month to March 31, according to the latest information from RP Data.
<img src="/images/stories/2013/04/rpdataapril3onethumb.gif" width="470" height="262" alt="rpdataapril3onethumb">
<img src="/images/stories/2013/04/rpdataapril3twothumb.gif" width="470" height="210" alt="rpdataapril3twothumb">
The RP Data Property Index provides a lead indicator for the number of residential dwellings that are being prepared for sale across the Australian housing market. The index, which tracks the flow of metadata across RP Data’s real estate data platform, shows a 75% correlation with the number of new listings about to enter the market.
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po-LsXgBTHBmX

NSW leads new residential listings activity: RP Data

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Westfield newest mall, Westfield Sydney and one of its older malls, Westfield Liverpool, were the top performing shopping centres in the Westfield Retail Trust over 2012, the trust's annual review has revealed.

The trust comprises 47 malls, 38 in Australia and nine in New Zealand and generated $20.9 billion in sales for the 12 months to December 31 last year with a <a href="/news">2% rise in earnings.</a>

Without any major new international brands to tempt shoppers, Westfield Liverpool on the outer western outskirts of Sydney managed 7.8% growth in annual sales, which reached $470 million over 2012.

The centre, built in 1971, has been extended and redeveloped three times in its life, firstly in 1991, again in 1993, and more recently in 2006, offering 85,000 square metres of retail space and 342 stores.

[smartcode_project:default project_id=6201]

At the glitzy end of town, Westfield Sydney on Pitt Street Mall, which was completed in April last year, generated 5.7% growth in sales, which reached $837 million in 2012, helped by its mix of international retailers including Gap and <a href="companies/zara" target="_blank">Zara</a>.

Westfield Sydney is the jewel in the Westfield crown standing on Australia’s most expensive retail strip and one of its biggest stores with 167,000 square metres of retail space built at a cost of $1.34 billion.

By comparison, Fountain Gate mall in Melbourne, the biggest in the group at 175,000 square metres, generated just 0.4% growth in sales. Sales may have been impacted by a $170 million face lift, which was only completed in September last year.

Sales at Westfield Bondi Junction in Sydney's eastern suburbs fell 0.6% to $961 million.

[smartcode_project:default project_id=7758]

Westfield’s top 10 performing Australian malls by sales growth in 2012

<table border="1" cellpadding="0" cellspacing="0"><tbody>
<tr>
<td valign="top" width="130">
			Store
			</td>
			<td valign="top" width="73">
			State
			</td>
			<td valign="top" width="103">
			Retail space

			(sqms)
			</td>
			<td valign="top" width="97">
			Sales growth in 2012
			</td>
			<td valign="top" width="110">
			Total sales
			</td>
			<td valign="top" width="79">
			Yield
			</td>
		</tr>
<tr>
<td valign="top" width="130">
			Liverpool
			</td>
			<td valign="top" width="73">
			NSW
			</td>
			<td valign="top" width="103">
			85,000
			</td>
			<td valign="top" width="97">
			7.8%
			</td>
			<td valign="top" width="110">
			$470 m
			</td>
			<td valign="top" width="79">
			6.25%
			</td>
		</tr>
<tr>
<td valign="top" width="130">
			North Lakes
			</td>
			<td valign="top" width="73">
			QLD
			</td>
			<td valign="top" width="103">
			61,000
			</td>
			<td valign="top" width="97">
			5.9%
			</td>
			<td valign="top" width="110">
			$390 m
			</td>
			<td valign="top" width="79">
			6.25%
			</td>
		</tr>
<tr>
<td valign="top" width="130">
			Westfield Sydney
			</td>
			<td valign="top" width="73">
			NSW
			</td>
			<td valign="top" width="103">
			167,000
			</td>
			<td valign="top" width="97">
			5.7%
			</td>
			<td valign="top" width="110">
			$837 m
			</td>
			<td valign="top" width="79">
			5.29%
			</td>
		</tr>
<tr>
<td valign="top" width="130">
			Plenty Valley
			</td>
			<td valign="top" width="73">
			VIC
			</td>
			<td valign="top" width="103">
			54,000
			</td>
			<td valign="top" width="97">
			5.4%
			</td>
			<td valign="top" width="110">
			$312 m
			</td>
			<td valign="top" width="79">
			6.50%
			</td>
		</tr>
<tr>
<td valign="top" width="130">
			Innaloo
			</td>
			<td valign="top" width="73">
			WA
			</td>
			<td valign="top" width="103">
			47,000
			</td>
			<td valign="top" width="97">
			5.3%
			</td>
			<td valign="top" width="110">
			$294 m
			</td>
			<td valign="top" width="79">
			7.00%
			</td>
		</tr>
<tr>
<td valign="top" width="130">
			Carousel
			</td>
			<td valign="top" width="73">
			WA
			</td>
			<td valign="top" width="103">
			82,000
			</td>
			<td valign="top" width="97">
			4.7%
			</td>
			<td valign="top" width="110">
			$569 m
			</td>
			<td valign="top" width="79">
			5.75%
			</td>
		</tr>
<tr>
<td valign="top" width="130">
			Figtree
			</td>
			<td valign="top" width="73">
			NSW
			</td>
			<td valign="top" width="103">
			22,000
			</td>
			<td valign="top" width="97">
			4.1%
			</td>
			<td valign="top" width="110">
			$175 m
			</td>
			<td valign="top" width="79">
			7.50%
			</td>
		</tr>
<tr>
<td valign="top" width="130">
			Doncaster
			</td>
			<td valign="top" width="73">
			VIC
			</td>
			<td valign="top" width="103">
			123,000
			</td>
			<td valign="top" width="97">
			3.8%
			</td>
			<td valign="top" width="110">
			$339 m
			</td>
			<td valign="top" width="79">
			6.50%
			</td>
		</tr>
<tr>
<td valign="top" width="130">
			Whitford City
			</td>
			<td valign="top" width="73">
			WA
			</td>
			<td valign="top" width="103">
			78,000
			</td>
			<td valign="top" width="97">
			3.0%
			</td>
			<td valign="top" width="110">
			$456 m
			</td>
			<td valign="top" width="79">
			6.75%
			</td>
		</tr>
<tr>
<td valign="top" width="130">
			Helensvale
			</td>
			<td valign="top" width="73">
			QLD
			</td>
			<td valign="top" width="103">
			45,000
			</td>
			<td valign="top" width="97">
			2.5%
			</td>
			<td valign="top" width="110">
			$339 m
			</td>
			<td valign="top" width="79">
			6.50%
			</td>
		</tr>
</tbody></table>
Source: Westfield Retail Trust Annual Review 

Westfield Retail Trust reported $20.9 billion in annual retails sales last year from its portfolio of Australian and New Zealand malls as part of annual results recently released.

It reported speciality retail sales of $9,852 per square metre from its 38 Australian malls and NZ$8,520 in speciality sales from its nine New Zealand malls.

The 47 malls are valued at $12.6 billion.

In total the portfolio offers 3.7 million square metres of gross lettable retail space with a 99.5% occupancy rate and 12,342 retail outlets.

The return on its portfolio is 5.9% in Australia and 7.5% in New Zealand with a total average yield of 6%.
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Westfield top 10 malls: Westfield Sydney shines but Bondi Junction disappoints

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Improving market sentiment, low interest rates and appealing yields were some of the factors that propelled Centuria to set up a listed property trust under the leadership of former Mirvac boss Nick Collishaw, says Centuria chief executive John McBain.
Collishaw was appointed to head up the new business division earlier this month and will <a href="https://www.propertyobserver.com.au/industry-news/former-mirvac-boss-nick-collishaw-to-establish-listed-property-funds-business-at-centuria/2013031259838" target="_blank">begin with Centuria on May 1.</a>
McBain says Centuria is currently working very hard sounding out institutional investors and has offers out in the market for a “few hundred million dollars of real estate” which will form the core of the new listed trust.
While it’s too early to say what the exact composition of the trust will be, McBain says it will be diversified to some extent but with a very clearly defined strategy.
“It won’t be a blancmange,” he tells Property Observer with a launch date pencilled in for later this year.
McBain says the ASX-listed business, which already has a $1 billion plus unlisted property funds arm led by Jason Huljich and an Asian wholesale investment division led by Chong Woon Pin in Singapore, was always looked at adding a third arm to its strategy - when the listed property trust sector became a good value proposition.
He says the availability of assets at appealing yields compared to interest rates, the recovery of net tangible asset values and the availability of equity for new transactions motivated Centuria to set up its A-REIT, led by Collishaw.
“We have raised $170 million this year and are one of the more active and larger property fund managers,” says McBain.
Its most recent syndicate investment, the 175 Castlereagh Street fund, closed over-subscribed with initial distributions starting at 9%.
Centuria Property Funds acquired the CBD office building for $56 million in January.
“We felt there was plenty of scope for other things. We have one of the larger property teams on eastern seaboard, and we rate them highly," says McBain.
“The general popularity of A-REITS has recovered and we believe there is space for one more in the sector.
“That’s not just my opinion, but the market opinion regarding the sector.
“We are taking advantage of the conditions, but then it’s down to property skills.”
McBain said getting Collishaw on board was a natural fit.
“He is a friend and someone we can work with. He was very easy to approach.”
“The listed property trust will be Nick’s show.”
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New Centuria listed property trust to take advantage of improving A-REIT conditions: CEO John McBain

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There are still plenty of full office floors available for lease in the Melbourne CBD according to the latest figures compiled by Savills.
The real estate group counts 76 full office floors available for lease in February, unchanged from January.
At the same time last year, there were 61 floors available for lease.
Click to enlarge
<a title="Click to enlarge" rel="shadowbox" href="/images/stories/2013/04/chartoftheweekapril3.gif"><img src="/images/stories/2013/04/chartoftheweekapril3thumb.gif"></a>
Savills says new office developments and government staff cuts in the central Melbourne precinct are behind the high number of prime full floors currently available for lease.
However, the group says the increased availability has sparked a recent spike in enquiry for full floors as tenants look to "take advantage and secure prime opportunities in a tenant’s market". 
Savills’ divisional director o office leasing, Phillip Cullity, says tenants are now increasingly aware that opportunities to secure the best space in the best location occurred in a market where total vacancy levels were on the rise.
"And tenants who have done their research will also realize that a rising total vacancy rate doesn’t necessarily mean a consequent rise in the number of full floors available. For example we now have vacancy at around 7% and 76 vacant floors but when full floors peaked at 88 in July last year the vacancy rate was just 5.6%.
"At the same time they realise that regardless of market phases there will always be competition for quality space and that’s why we are now seeing this upturn in interest from larger tenants.
 "Why wouldn’t you consider your options when you have historically high number of options at a time when there are very competitive rents and the likelihood of equally attractive incentives," he says.
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Still plenty of full office floors available for lease in Melbourne CBD: Chart of the week

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Most investors believe keeping an eye on the daily media will provide you with the best opportunities.
Others will mainly focus upon distressed sales like "Mortgagees' Auctions".
However, by doing that, you are effectively pitting yourself against considerable competition.
And while the property itself may be first-class, you are unlikely to end up with a "top deal".
How to make it work for you
That's not to say you shouldn't consider commercial properties being auctioned or put to tender.
However, your best interests will not be served by actually participating, as part of that advertising campaign.
You see, as the market improves, vendors will start to become "a little high in the stirrups" as far as the price expectations are concerned.
As such, the auction/tender campaign can often serve as an education process where vendors discover what the market considers their property is really worth.
However, once the sale date passes without achieving a result, the general buying public loses interest and tends to move on to the next approaching auction or tender.
This is when you swing into action!
If that particular property remains unsold after three or four weeks, you need to understand two things:
<ol>
<li>There is nothing necessarily wrong with the property itself; and</li>
<li>The vendor is most likely now ready to meet the market on price.</li>
</ol>
Therefore, what the daily media provides you is an upcoming inventory of potential opportunities — which you then need to monitor.
But you should only begin spending time investigating these properties a week after the sale date has passed. And then, only the properties which fit your <a target="_blank" href="https://www.propertyobserver.com.au/commercial/australia-to-continue-as-commercial-property-investment-hotspot-in-2013-jones-lang-lasalle/2013032760094">investment</a> objectives.
Avoiding the competition
Wouldn't you prefer to investigate a buying opportunity without the added pressure of competition?
Developers and investors often want to sell their properties as soon as a tenant has committed to a new lease or exercised option.
But in the current economic climate, it can take anywhere from three to five weeks before the formal lease is actually signed after reaching agreement on the commercial terms.
Therefore, what I've done to help my clients is build up a close-knit group of agents who will keep me abreast of any such opportunities.
You see, until the lease is actually executed, those agents cannot offer the property to the open market. However, an offer to lease has been signed; and the first month's rental paid.
As such, the deal does exist, but it still needs to be formally documented.
Bottom line: With these opportunities, my clients are able to reach an agreement to purchase the property, subject to the lease being executed on the agreed commercial terms.
But the real bonus is the saving in advertising expenses (now the vendors can make a quick sale, without any advertising costs) because it ultimately translates into a reduction in the purchase price.
And that means a win-win outcome for both parties.
Chris Lang is an advisor to commercial property investors, sell-out author and regular speaker on how to invest in commercial property. You can visit his website <a target="_blank" href="https://property-edge.com.au/" rel="nofollow">Property Edge Australia</a> to help you get the most out of your commercial property investing.
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Keep an eye on commercial properties that fail to sell: Chris Lang

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The Redcape Hotel Group has earned around $10 million following the sale at auction of six Coles-leased hotels and stand-alone Liquorland bottle shops in Queensland.
All sold at prices above book value at yields starting from 7.38%.
All of the properties are backed by long team leases to Liquorland Queensland, a wholly owned subsidiary of Coles.
The highest price was achieved for the Mansfield Hotel and First Choice Liquor in Townsville, which sold for just over $4 million at a yield of 8.21%. 
Also sold was the Ant Hill Hotel and Liquorland at Mareeba in the Atherton Tablelands ($1.75 million at 7.7% above book value) as well as the Commonwealth Hotel and Liquorland at Innisfail south of Cairns for $1.75 million. 
The three bottleshops are all located in and around Cairns -Liquorland Woree (just over $600,000), Liquorland Southside at Woree ($620,000 – 6.9% above book value) and Liqorland Coastwatchers at Trinity Beach ($890,000).
The campaign was steered by CBRE Hotels director Joel Fisher and Billy Holderhead of Burgess Rawson.
<a target="_blank" href="/news">Trevor O’Hoy</a>, the former CEO of brewing giant Foster’s, is the non-executive chairman of Redcape.
 
 
 
Mr Fisher said three of the buyers had come from the Melbourne bidding room with the other three buyers from the Sydney bidding room. However, there was active bidding from all locations.
 
He added that the strength of the Coles tenancy covenant combined with the improving sentiment in the hotel investment sector had underpinned significant interest in the sales campaign.
 
“Coles is Australia’s second largest hotel operator with around 100 hotel venues across the country,” Mr Fisher said.
 
“Given the security of the lease covenant we fielded strong interest from passive investors, not just from Queensland but from right across the country, with all of the properties offering long lease terms and guaranteed future rental growth, well above inflation.”
 
All of the properties are backed by initial long term leases (most of which commenced in 2006) with options. Mr Fisher said the lease terms included very favourable rent increases of 4% annually and all properties boasted good underlying property values.
 
One of the leading assets in the portfolio was the Mansfield Hotel and First Choice Liquor in Townsville, which sold for just over $4 million at a yield of 8.21%.
 
 
Also sold was the Ant Hill Hotel and Liquorland at Mareeba in the Atherton Tablelands ($1.75 million at 7.7% above book value) as well as the Commonwealth Hotel and Liquorland at Innisfail south of Cairns for $1.75 million.
 
The three bottleshops are all located in and around Cairns -Liquorland Woree (just over $600,000), Liquorland Southside at Woree ($620,000 – 6.9% above book value) and Liqorland Coastwatchers at Trinity Beach ($890,000).
 
Mr Holderhead added; “The long term leases and the blue chip tenancy covenants set these assets apart from other recent hotel offerings, with the opportunity to purchase a long term cash flow with fixed increases of 4% per annum, backed by one of Australia’s largest companies, not often seen in the investment market.”
 
“In this instance, investors were given the opportunity to buy well established, highly successful hotels and bottle shops which provide long term, fixed rental cash flows above inflation backed by Australia’s 2nd largest hotel operator.
 
“There is a flight to quality in the current market and we are fielding strong demand for assets in this price range of $1m - $6m which offer highly secure income streams and quality lease covenants such as these.”
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Redcape nets $10 million from sale of portfolio of Queensland pubs and liquor stores

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The inner Brisbane strata office market is gaining momentum according to Colliers International, which recently negotiating $1.8 million in sales over three strata titled properties in and around the Brisbane CBD.
Colliers International agents Hunter Higgins and Jock Murray, who negotiated the sales, said due to low interest rates, many businesses appeared to be looking at purchasing a premise rather than renting. 
Higgins believes that the three strata properties - all purchased by owner-occupiers - indicates that the level of affordability in the Brisbane strata market is encouraging small businesses with imminent lease expiries to consider entering the owner-occupier market. 
“The level of affordability at the moment is clearly providing the impetus for these buyers to take the plunge now and buy an asset,” says Higgins. 
“From an affordability point of view, it is the ideal time for small businesses to make a move and buy their own strata unit.” 
A series of redevelopments currently happening throughout the Brisbane CBD, notably ISPT's <a href="https://www.propertyobserver.com.au/retail/ispt-proposes-new-queen-street-brisbane-retail-to-lure-zara-and-topshop/2013032159978" target="_blank">$100 million Regent Tower Windergarden</a> complex, is expected to continue to drive the growing confidence in the owner-occupier market. 
A number of strata-titled office properties within the Brisbane CBD are currently available for puchase
This include a 188 square metre <a href="https://www.realcommercial.com.au/property-offices-qld-brisbane+city-500628411" target="_blank">Edward Street</a> office asking $1.25 million, a 243 metre square office space at <a href="https://www.realcommercial.com.au/property-offices-qld-brisbane+city-5792102" target="_blank">Queen Street</a> with an asking price of $1.4 million and a 140 square metre space at <a href="https://www.realcommercial.com.au/property-offices-qld-brisbane+city-500655003" target="_blank">Adelaide Street</a> with an asking price starting at $1.1million.

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Owner occupiers see value in Brisbane strata office market

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The <a href="https://www.realcommercial.com.au/property-retail-vic-malvern-500617179" target="_blank">225-square-metre corner retail building</a> that currently houses the chef's hat awarded Livingroom Restaurant in Malvern is on the market for around $1.5 million. 
Located at 12 to 18 Claremont Avenue, the building originally comprised of four retail shops that were combined to create an expansive space.
The building has an annual return of $76,350, which offers a potential rental yield of 5.09%.
Boasting two extensive street frontages and a rear laneway access, Livingroom was awarded a chef’s hat in last years Good Food Guide.
Colliers International has appointed Jeremy Gruzewski and Ben Baines to coordinate the sale.
“With approximately six years operation from this locaton, Livingroom is frequently featured among the best restaurants in metropolitan Melbourne with a large and loyal following of customers," says Gruzewski.
“This represents an exceptional passive investment opportunity with a secure tenant, with the locational benefits of being in one of Melbourne’s most desirable suburbs.”
The Livingroom currently has three years left on its lease and the property is being sold as one title.
 Baines says any future subdivision plans are subject to approval.
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