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“Minister Chanthivong and his team have shown real leadership in replacing an outdated two-year bond with cover that matches the lifespan of the buildings people are buying into.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

<html><body>
Consumer confidence continued to rise above two-year highs in March - despite no rate cut.
The Westpac-Melbourne Institute Index of consumer sentiment rose 2%  in March to 110.5, its highest level since December 2010.
This follows a 7<a href="/news">.7% increase in February</a> – the biggest monthly gain since September 2011 – when the index rose from 100.6 in January to 108.3.
It is the fifth month in a row that the index has been above 100 with sentiment now 15% higher than its year ago level.
A reading of 100 or more indicates that optimists outnumber pessimists.
Confidence about buying a house or unit remains high with ‘time to buy a dwelling’ index up 1.6% and is now up almost 20% over the past 12 months.
The latest survey was carried out just after the RBA left the cash rate on hold at 3% on March 5, indicating a more broader improvement in confidence beyond the cost of borrowing money.
Westpac chief economist Bill Evans called it a " strong result" 
“Consumers would have been buoyed by the positive run on markets," Evan said.
Commonwealth Bank economist Gareth Aird says consumer sentiment was "buoyed by increased optimism over family finances and the economic outlook".
"The increase in the attractiveness of dwelling investment stems from lower interest rates, rising rental yields and a stabilisation in house prices," says Aird.
</body></html>

lschlesinger-FZcF9M3vE6

Consumer confidence continues to rise with home-buyer confidence also high: Westpac index

<html><body>
The weighted average median house price for Australia’s eight capital cities increased by 3.8% over the December quarter to a median of $533,099, according to figures compiled by the Real Estate Institute of Australia.
Capital city unit prices rose 2.4% over the quarter to a weighted average median of $436,305, according to the REIA.
On the back of these results, REIA president Peter Bushby said first signs were emerging of a “long awaited recovery for the residential property market”.
“It is well known that for the last year and a half, the housing market in Australia has been performing below the trend.
“To those who have been predicting a housing market crash, I would strongly recommend to take a deep breath and have a look at the results recorded for the last quarter of 2012,” he says.
While Bushby's sentiments reflect those of many property analysts, the extend of price rises recorded in the December quarter by the REIA will raise eyebrows.
REIA figures contrast strongly though with those compiled by RP Data over the same period.
RP Data recorded a 1.2% decline in dwelling prices over the December quarter with houses down 1.1% and units down 1.6% over the quarter.
Australian Property Monitors (APM) had house prices up 1.9% over the December quarter and the ABS recorded a 1.6% rise in capital city house prices.
Eyebrows will also be raised at the REIA reporting the largest increases in house prices in Melbourne over the December quarter - up by 7.8% to a median $555,000.
RP Data records Melbourne house prices down 1.5% over the quarter, though with a similar median of $550,000.
The Real Estate Institute of Victoria (REIV) recorded a 2.4% rise in Melbourne house prices over the December quarter on a seasonally-adjusted basis.
Australian Property Monitors (APM) also recorded a 2.4% rise in Melbourne house prices over the December quarter  with a median value of $525,000.
The REIA records a modest 2% rise in Sydney house prices over the quarter to a median of $656,000 while RP Data records a 2% decline and a median of $665,000.
Figures compiled by the REIA int is quarterly report are not seasonally-adjusted.
Sydney, Melbourne, Adelaide and Perth medians are revised once in the next quarterly release. Hobart, Brisbane and Darwin prices are not revised.
The current quarter estimates are based on a high (75% -90%) sample of final sales, current quarter estimates are compared with the revised estimates in previous quarters. Sydney median prices are adjusted for compositional changes.
The REIA report also notes that rental markets in resource-rich states remained tight.
“Underpinned by low vacancy rates, rents in Western Australia and the Northern Territory increased dramatically.
“Compared to the December quarter of 2011, median rents in Darwin increased 22% for houses and 14.3% for other dwellings.
“In Perth, increases were 9.5% for houses and 10.5% for other dwellings. Such conditions, together with lower interest rates and rising yields attract more and more investors back to the housing market.
“As we have said before, property is a long-run strategy. Remaining optimistic about the future of the Australian housing market, I am pleased to see that at the end of 2012, it finally turned.
“This augurs well for 2013,” says Bushby.
</body></html>

First signs of residential property market recovery: REIA president Peter Bushby

<html><body>
Some would-be investors never get around to taking the plunge into commercial property.
They certainly know quite a lot, because they read plenty of books and regularly attend seminars. But even so, they remain what are affectionately called 'armchair investors'.
<h3>How to cure procrastination</h3>
There is a certain hesitancy that sometimes accompanies the transition from residential to commercial property investing.
Perhaps this stems from having to move out of your comfort zone and the fear of 'not getting everything right' from the outset.
Management guru Tom Peters provided this simple formula to help people who find themselves procrastinating:
Ready, Fire, Aim.
However, with property investing, this has often been rephrased as:
Start, Stumble, and Succeed.
You will always gain far more (in both knowledge and profit) whenever you start and stumble, rather than by holding back in the fond hope of finding some magical way of getting it right on your very first attempt.
Along the path, you will have the chance to make adjustments — because you can always change something, but you can't change nothing.
<h3>The importance of position</h3>
Clearly, the location of your property is important — but here again, you need to be prepared to step outside your comfort zone.
It's okay to purchase a home, based upon where you want to live. But when it comes to commercial property investing, you need to seek out where the market is now, and where it's heading.
That may mean buying just around the corner. But equally, it could be across town, or even interstate.
And that's where having a <a target="_blank" href="https://his-best.biz/category/x-factors/key-consultants/">top consulting team</a> can quickly provide you with this vital market intelligence.
<h3>Strive to build a reputation</h3>
Naturally, you want to make every deal a winner. But you can never place revenue above reputation AND expect to enjoy any long-term success.
This relates to your dealings with selling agents, vendors, property managers and contractors in general.
It's possible for you to be firm and still remain fair in all your dealings.
You want to be known as a straight shooter if you intend becoming a serious long-term investor in commercial property. That extends to paying people promptly, instead of stringing them out for as long as you can.
You see, contractors have long memories. And they will respond when you need them if you have quickly paid their accounts in the past.
Surprisingly, it is small actions like these that can help build (or destroy) reputations.
Bottom line: always be looking for opportunities. And remember, until you actually sign a contract, nothing is binding.
Knowing this, you should be making offers on a regular basis. And always strive to ensure things end up in a win-win outcome.
That way, you'll quickly build a solid reputation — as someone who is a significant player, but also absolutely fair.
Chris Lang is an advisor to commercial property investors and gives keynote speeches and regular seminars on the best way to invest in commercial property. He maintains a blog, <a rel="nofollow" href="https://his-best.biz/" title="Chris Langs blog" target="_blank">his-best.biz</a>, which he updates regularly about the best way to get the most out of your commercial property investment.
</body></html>

chrislang-EQKojcgJPV

It's better to start and stumble than procrastinate: Chris Lang

<html><body>
The construction industry is forecast to contract 4% over the three months to May 2013, according to short-term forecasts from the BCI Media Group.
BCI is forecasting $15.6 billion in total construction starts over the three-month period compared with $16.2 billion in the previous three-month period from December to February.
Total building construction is expected to fall 10% over this period with a 20% decline in the value of residential construction (including aged care accommodation).
The longer-term trend shows an 11% pick-up in residential construction for the May quarter of 2013 compared with the May quarter 0f 2012.
<img alt="constructionmarch13chart" height="306" width="470" src="/images/stories/2013/03/constructionmarch13chart.gif">
Commercial construction activity is expected to pick-up by 80% over the May 2013 quarter in line with longer-term growth, up 27% year-on-year.
The fall in total construction starts is being driven by a sharper fall in the infrastructure sector as the government cuts back on spending.
The long-term trend shows total construction starts in Australia at negative 3% when contrasting the value of 12 months’ construction starts against the corresponding 12- month period a year earlier.
BCI says there is unlikely to be any major improvement in the construction sector over the next twelve months as the high Australian Dollar, tight company budgets, and tough bank lending criteria continue to squeeze the market.
Whilst there are some signs of activity in the commercial and residential sectors, the overall building construction market continues to track sideways. On a state level, growth is showing through in New South Wales and Queensland; although in Queensland’s case any optimism needs to be tempered as the market remains nearly twenty per cent below where it was three years ago.
The fall in civil construction starts continued to gather speed.
"While there is anecdotal evidence of a drop in pricing on new jobs in the market, it remains to be seen if this will lead to a pick up in jobs going forward," says Damian Eastman, COO of BCI Media Group.
The Australian Industry Group/HIA Australian Performance of Construction Index for February recorded an expansion in house building and engineering construction with the overall index increasing by 9.4 points to 45.6  in the month, to still remain in contractionary mode, but at a slower rate of decline.
A reading of below 50 indicate a contraction in the industry with the distance from 50 indicative of the strength of the decline.
</body></html>

Construction industry to contract 4% over next three months and no improvement long-term: BCI

<html><body>
House prices in Sydney's most expensive suburb, Bellevue Hill, in the eastern suburbs, fell 12% over 2012, figures compiled by the REINSW reveal.
The median house price as of December 2012 is $2,945,000 compared to $3,345,500 in December 2011.
Real estate  agent Leon Jacques of 1 to 1 Realty Double Bay says the annual figure has likely fallen due to vendors now meeting the market and becoming more realistic.
The median price dropped by a steep 17% in the last quarter of the year according to the REINSW.
Jacques says the quarterly drop in the median price may be due to properties at the lower end of the market accounting for majority of sales.
Jacques says cheaper homes have the ability to skew the figures but the quarterly drop is not a complete indication of how the suburb is fairing.
CEO of REINSW Tim McKibbin says the more affordable part of the market weathered the property storm of the past few years but the more expensive suburbs went through something of a correction.
McKibbin says that has now bottomed and prices will begin to firm up.
"During the last couple of years, not only did prices of properties in less affordable areas decline but sales also declined."
McKibbin is quietly confident about 2013 and expects prices to strengthen.
"Less affordable areas will always lag the affordable areas," says McKibbin.
A <a target="_blank" href="https://www.realestateredefined.com.au/Buying/Search/Detail.aspx?id=48&amp;wlid=843a1aad-a6e2-43cc-82a4-066b0efd0256">four-bedroom, two-bathroom</a> home on Bellevue Road (pictured below) sold at its February 26 auction for $2,755,000.
<img height="313" width="470" src="/images/stories/2013/03/bellevuemarch13oneone.jpg" alt="bellevuemarch13oneone">
Situated on 738 square metres of land, the home boasts two levels of living space and has DA plans for an additional storey.
It last sold in July 2010 for $2.7 million.
The listing was held by Real Estate Redefined Double Bay.
A three-bedroom home on <a target="_blank" href="https://www.realestate.com.au/property-house-nsw-bellevue+hill-112862879">Lennox Street</a> (pictured below) sold at its February 23 auction for $2,275,000.
<img height="349" width="470" src="/images/stories/2013/03/bellevuemarch13two.jpg" alt="bellevuemarch13two">
Built in 1900, the home boasts two bathrooms, a double living room with French doors, high ceilings and cast iron fireplaces.
The sale was secured by Sydney Sothebys International Realty Double Bay.
Meanwhile, the vendors of a Bunyula Road property sold prior to auction for $2.33 million.
The property comprises of three bedrooms, two baths and sits on 639 square metres of land.
The sale was closed by Bradfield Cleary Double Bay.
There have been 15 house sales above $10 million in Bellevue Hill since 2008, but only one officially recorded in the past year, according to RP Data.
Vaucluse is Sydney’s second priciest suburb with a median house price of $2,475,000. It remained stable in the last quarter, however  dropped 21.4% annually.
</body></html>

ntrotman-Et3xWpamVh

Bellevue Hill prices down 12% over 2012 but still Sydney's priciest suburb

<html><body>
The $130 million Harvey Norman Maroochydore Homemaker Centre on the Sunshine Coast, which opened in November last year, is now 91% leased as demand for bulky good retail assets rises. 
The success of the centre, the first homemaker complex built in Queensland since 2009, will be seen as a sign of a return of confidence in both the South East Queensland commercial property market and the residential property market with furniture and home living stores prominent among tenants.
The successful leasing of the centre comes on the back of a pick-up in the bulky goods sector spurred on by competition between Wesfarmer’s Bunnings and Woolworth’s Masters for the DIY space and <a target="_blank" href="https://www.propertyobserver.com.au/news/casula-in-sydney-s-south-west-to-get-its-costco/2013031059802">Costco </a>and IKEA both expanding in Australia. 
The 2012 shopping centre investment review report from Jones Lang LaSalle says activity in the sub-regional and bulky goods sectors increased in 2012 with opportunistic investors emerging to capitalise on wide yield spreads including those offered in the bulky goods sector.
The JLL report says there was a “significant revival in activity” in the bulky goods sector in 2012 with over $613.2 million worth of bulky goods (homemaker) centres traded in 2012, 87% above the 10-year average ($328 million). 
Yields have been high with the Home Hub Hills bulky good centre in Castle Hill, Sydney purchased by LIM last year on a yield of 9.32%. 
“This sector has been attractive for a number of reasons. 
“The investors targeting this asset class recognise that the prime assets have stabilised and a recovery in retail spending, combined with a potential revival in residential construction, could strengthen the performance of prime centres. 
“In addition, there has been relatively low competition for these assets with the absence of A-REIT’s as active buyers and centres can be acquired on attractive yields,” says JLL. 
A-REITs continue to exit this sector as evidenced by Charter Hall’s sale of Mile End Homemaker Centre ($43.8 million) and GPT’s sale of Homemaker City Jindalee ($50.5 million) and Homemaker City Aspley ($41.2 million). 
The 32,000 square metres of lettable area in the Maroochydore Centre includes 20 retail stores and 4,185 square metres of office space, more than half of which is leased to Goodlife Health Club. 
Just four tenancies remain in the bulky goods store measuring 125 square metres, 510 square metres, 515 square metres and 1,320 square metres. 
The indoor centre was developed and is anchor-tenanted by Harvey Norman. 
Other tenants include Joyce Mayne, Domayne, Nick Scali, Plush, Next Byte, The Outdoor Furniture Specialists, Akasha, Sleepy’s, 2 Garnish and Global Living Furniture. 
The leasing agents for the centre are CBRE’s Damian Crocetti and colleague Nick Willis. 
Crocetti says the centre is well positioned to take full advantage of the ‘Homemaker Market Boom’ with bulky goods spending in the catchment area totaling an estimated $1.029 billion according to Deep End Services. 
The complex is situated just 1km west of the Maroochydore CBD and only moments from proposed Bunnings and Masters sites. 
It is adjacent to the largest shopping centre on the Sunshine Coast, the Best &amp; Less, Coles, Kmart, Myer and Target anchored Sunshine Plaza. 
</body></html>

Bulky goods revival continues as Harvey Norman Maroochydore centre now 91% leased

<html><body>
There is good news for retail property landlords with ice-cream franchise Baskin-Robbins announcing plans for another 200 shops in Australia over the next 10 years, tripling the chain's presence in the country.
On a smaller scale, relative newcomer to the market <a target="_blank" href="https://www.smartcompany.com.au/retail/20090804-ice-cream-chain-ben-a-jerrys-comes-to-australia-with-franchising-plan">Ben &amp; Jerry's</a> is planning an additional 30 stores across Australia.
Baskin-Robbins has entered into a master franchise joint agreement with Galadari Brothers, the parent company of Galadari Ice Cream Co, which is a long-time Baskin-Robbins licensee for the Middle East.
The tie-up comes after <a target="_blank" href="https://www.smartcompany.com.au/franchising/20101021-breaking-news-allied-brands-loses-baskin-robbins-franchise-rights-receivers-appointed-to-subsidiary">former master franchise Allied Brands </a>was stripped of its Australian franchise rights for the Baskin-Robbins franchise by the US owner of the brand, Dunkin' Brands.
Dunkin' Brands will maintain a 20% stake in the new joint venture while Galadari will be primarily responsible for day-to-day operations in Australia.
Galadari will open additional franchise locations as well as corporate-owned and operated stores, with each company jointly contributing $2 million over the next three years for marketing.
"Galadari has done an outstanding job of making Baskin-Robbins one of the pre-eminent ice cream brands in the Middle East, and we believe they can do the same in Australia, one of our high opportunity markets," said Giorgio Minardi, president of Dunkin' Brands International in a statement.
Ben &amp; Jerry's is also expanding in Australia with the opening of its fourth Scoop Shop franchise on the Gold Coast.
The expansion of the ice-cream chain into new states is part of a larger rollout plan, introducing Ben &amp; Jerry's packaged product and franchise outlets into new states with up to 30 franchise shops across Australia planned.
Launched in Australian in 2009, Ben &amp; Jerry's brand manager Kalli Swaik said in a statement the plan is to make the brand available across the nation.
The ice-cream chain aims to open up in key sites along the east coast including Circular Quay, Darling Harbour and Sydney CBD in New South Wales, Melbourne CBD, Southbank and St Kilda in Victoria, and Brisbane CBD, Broadbeach, South Bank and The Valley in Queensland.
"We're on the hunt for a team of dedicated Scoop Shop owners to help us spread peace, love and ice cream across the country," Swaik said in a statement announcing the expansion.
Jason Gehrke, director of the Franchise Advisory Centre, told SmartCompany Baskin-Robbins' ambitious plans were achievable provided it was prepared to invest enough.
"That will substantially increase their chances of achieving that growth target but it is not going to happen without a significant commitment of resources on the master franchisees behalf," he says.
"Baskin-Robbins is a mature brand in the Australian market today so the question is: What is new and different about this agreement that will cause a stampede of franchisees?"
In contrast, Gehrke says Ben &amp; Jerry's is a new player on the market and one that has been relatively conservative in its initial approach.
"So that relative newness and perceived vibrancy will be its competitive advantage in appealing to the market," he says.
"But these businesses are all affected by seasonal variations and consistent high temperatures are very good for these kind of businesses but one or two cool summers would quite severely impact a franchisee turnover."
Gehrke says there are already plenty of well-established ice-cream franchises in Australia and an additional 230 stores will add to the already hot competition for ice-cream customers and for sites.
"Often you find the more players in a market, the bigger the market segment becomes. The question is can everyone make money out of it," he says.
"These businesses are all going to be competing for sites as well and if you have multiple brands competing for the same locations that may have the knock-on effect of pushing up rents where rents are otherwise stagnating."
This article first appeared on <a target="_blank" href="https://www.smartcompany.com.au/">Smartcompany.com.au</a>
</body></html>

cwaters-YrtBR88nBe

Baskin-Robbins and Ben & Jerry's plan another 230 stores

<html><body>
The striking glass-fronted premises of Paul Mathis’s FireChief restaurant in Camberwell Junction has been listed for auction on March 21.
The property, at 169 Camberwell Road, Hawthorn East, was formerly an auto shop before being entirely refurbished to incorporate FireChief plus laneway café Goldilocks in late 2011.
The 455-square-metre site has 10.67 metre street frontage to Camberwell Road and caters for suburban moviegoers, being just 100 metres from the Rivoli Cinemas.
The property is being marketed by Grita Angelucci from John H Castran and Fitzroys agents Chris Kombi and Mitchell Humphreys.
Kombi tells Property Observer, the restaurant premises are expected to sell in a price range from $4 million to  $4.3 million - a yield of around 6%.
"We have received interest from private investors. Interest has been good," he says.
The Italian restaurant, with its three pizza ovens and Naples-trained chef, is licensed for 200 seated patrons at any one time.
The property is leased to Mathis for seven years with two further seven-year terms and returns $260,000 per annum plus GST with fixed annual increases.
Mathis is a celebrated “concept” chef with FireChief renowned for its pizzas, which include a classic minimalist Naples-style pizza and an ‘Aussie’ pizza topped with an egg.
The restaurant and cafe are located within the Camberwell Junction activity hub next to Dan Murphy’s, Dick Smith, Rivoli Cinemas and to the rear, The Well Shopping Centre, Coles Supermarket and Burke Road’s retail precinct.
Other eateries established by Paul Mathis in Melbourne over the past two decades include Blue Train, Automatic, Taxi, Transport Hotel, Soul Mama, Chocolate Buddha, SOS and the 100 Mile Café.
</body></html>

Hawthorn East premises of Paul Mathis’ FireChief restaurant listed for March auction

<html><body>
Bunnings has acquired the Supa Centa at Tuggerah on the NSW Central Coast, owned by Betty Klimenko’s family real estate group Terrace Tower.
Terrace Tower was founded by Klimenko’s father, the late John Saunders, co-founder of the Westfield Group.
The centre is located at the corner of Wyong Road and Bryant Drive in Tuggerah and is billed as the Central Coast’s largest home &amp; lifestyle centre.
Tenants include The Good Guys, Bunnings Warehouse, Spotlight, Nick Scali, Fantastic Furniture and Bing Lee.
Other commercial properties owned by Terrace Tower include the Eastgardens shopping centre and Moore Park Supa Centre in Sydney’s eastern suburbs and the Crowns Gardens apartment block in East Sydney.
Klimenko, with her distinctive pink hair and tattoos, is a motorsports fanatic and owns the Erebus Motor Sport team, which raced a Mercedes at the V8s in Adelaide earlier this year.
Bunnings plans to increase the size of the store, one of the better performing in the group, and give it a more modern format, Fairfax reported. Bunnings is owned by Wesfarmers. 
</body></html>

Bunnings acquires Betty Klimenko family-owned Supa Centa at Tuggerah

<html><body>
Concerns that incentives granted to developers and housing groups under the National Rental Affordability Scheme (NRAS) are being sold on a secondary market are to be investigated as part of the federal government’s review of the scheme.
The Australian Financial Review has reported that some developers were selling incentives for between $10,000 and $30,000 each.
Ahead of the release of the fifth round of 10,000 incentives, Mark Butler, the federal minister for housing and homelessness, said he had “heard the concerns about the timely use of incentives”.
“We will continue to refine this innovative program,” he said.
The scheme has come under attack from the opposition housing spokeswoman, Senator Marise Payne, who said its aim was to provide affordable housing – not for developers to make a quick profit.
An incentive allows for the building of an eligible NRAS home – property investors get an annual tax-free incentive of just under $10,000 and eligible renters get a 20% discount to the market rent.
Around 11,300 homes have been built under the scheme with a noticeable pick-up in delivery of new NRAS housing in the last 18 months.
Developers like David Devine’s Metro Property Development group have stepped up their marketing of NRAS properties with around half of new Brisbane apartments offered to investors under the scheme.
The government aims to build <a target="_blank" href="https://www.propertyobserver.com.au/developments/government-to-expand-nras-scheme-with-aim-of-50000-homes-by-2015/2013030659767">50,000 new homes under NRAS by 2015</a>.
</body></html>

Latest Investing Insights

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

Editor's Picks

Developments

New apartments

New townhouses

News

Latest Investing Insights

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

Editor's Picks

Receive the latest news stories to your inbox

Developments

New apartments

New townhouses

News