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“Minister Chanthivong and his team have shown real leadership in replacing an outdated two-year bond with cover that matches the lifespan of the buildings people are buying into.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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Another business in the troubled construction industry has collapsed, with a Tasmanian builder of modular homes placed in administration after more than three decades in business.
However, despite the string of collapses in the niche segment of the construction sector, an IBISWorld report from last month found demand for prefabricated metal buildings in the residential market is expected to increase.
A statement from corporate advisory firm McGrathNicol confirmed "Tasmania's leading manufacturer of modular homes", Mornington Park Homes, was placed in receivership.
Rob Kirman and Matthew Caddy of McGrathNicol were appointed and took control of company assets and affairs. Following an assessment of its financial situation, it was determined Mornington Park Homes could no longer continue trading, Kirman said in a statement.
"McGrathNicol is in the process of seeking urgent expression of interest for the business and assets of Mornington Park Homes and will be placing a public announcement calling for expressions of interest in the coming days," Kirman said in the statement.
A spokesperson for McGrathNicol told SmartCompany no further information was available at this stage.
Over the past 32 years the business has produced nearly 32,000 transportable homes in Tasmania.
Mornington Park Homes is just one of a long list of construction companies to go under recently, with Australian Securities and Investment Commission figures indicated <a target="_blank" href="https://www.smartcompany.com.au/construction-and-engineering/054290-construction-company-collapses-owing-18-million-as-insolvency-figures-show-industry-in-for-more-pain">one-fifth</a> of the reported 10,632 company collapses last year were construction companies.
In November last year, New South Wales modular homes company Trade Fusion also collapsed.
An IBISWorld report from last month found demand for prefabricated metal buildings in the residential market is set to rise.
"Demand is forecast to expand solidly over the next five years, with the value of new housing construction averaging cyclical growth of an annualised 4.3%," the report says.
The industry is dominated by small businesses, with 90% of companies employing fewer than 20 people.
The industry-wide report into the manufacturing of prefabricated metal buildings found the annual growth rate for the industry between 2008 and 2013 was 8%, driven by the mining boom and the one-off government stimulus for refurbishment of primary school classrooms.
The report says while businesses supplying goods to the mining industry grew significantly during the 2000s, the housing sector struggled, leading to the high number of insolvencies in residential construction.
"Firms supplying products to the household and commercial property markets have encountered subdued demand conditions since the mid-2000s," the report says.
This article originally appeared on <a rel="nofollow" href="https://www.smartcompany.com.au/index.php" target="_blank">SmartCompany</a>.
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Tasmanian modular home builder placed in receivership

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Improving housing affordability is failing to encourage first-home buyers to step onto the property ladder – in fact the exact opposite is happening.
Despite the proportion of income required to meet loan repayments decreasing 1.4 percentage points to 30.4% over the December quarter, the number of new finance commitments to first-home buyers decreased 9.1% over the quarter and 17.4% over the year to be at their lowest level since the March quarter of 2005, according to the latest Adelaide Bank/REIA Housing Affordability Report.
The report found that first-home buyers made up just 16.5% of the market over the December quarter compared to 19% in the September quarter.
This trend looks set to continue with <a target="_blank" href="/news">mortgage broker AFG </a>recording first-home buyers as accounting for just 12.9% of home loans arranged by the group over February, down from 13.2% in January.
First-home buyer numbers fell dramatically in NSW from 11,117 in the December quarter of 2011 to just 4,459 in the December quarter of 2012, according to the REIA.
In comparison first-home buyer numbers increased in Victoria over the same time frame from 6,528 to 7,169 and also increased in WA from 3,699 to 5,014.
REIA president Peter Bushby says that largely due to a higher average income, the ACT remains the most affordable state or territory in which to buy a home, with the proportion of income required to meet loan repayments at 18.7%.
“Though the proportion of income required to meet loan repayments decreased to 36.0%, New South Wales remained the least affordable state or territory in which to buy a home,” he adds.
“Compared to the 2011 December quarter, all states and territories recorded improvements in housing affordability, the largest in Queensland and South Australia.”
<img src="/images/stories/2013/03/reiamarch6.jpg" width="470" height="304" alt="reiamarch6">
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First-home buyer numbers fall to near eight year low despite improving housing affordability: REIA

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Everton Plaza, an almost fully-leased shopping centre located in Brisbane’s inner northwest, is expected to attract retail investors.
Stewart Gilchrist and Matthew Curtain of Colliers International have been tasked with the marketing campaign on behalf of Centa E Pty Ltd.
They expect the plaza will garner the interest of both local and interstate buyers.
“Indeed, the fact that the centre is well established and has almost no vacancy will be one of the most attractive aspects for any investor,” they said.

The 1.75-hectare Everton Park property, located at 791 Stafford Road, has a lettable area of 7,200 square metres with up to 230 parking spaces and features frontage to arterial roads South Pine Road and Stafford Road as well as to two rear streets.

With anchor tenant Coles, the complex comes with 26 other specialty tenants including ANZ, Chemmart, BWS, Australia Post, Brumby’s, Domino’s Pizza and the Fernwood Fitness studio which occupies the whole of the first floor.

Matthew Curtain estimates that on a fully leased basis the net annual income of the building has a $2 million potential.
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Brisbane's Everton Plaza expected to attract local and interstate buyers

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The Meat &amp; Wine Co will open a new restaurant in the InterContinental Hotel at 117 Macquarie Street in the Sydney CBD.
The international steakhouse group will take the 320-square-metre space previously occupied by Justin North's Etch restaurant.
North's restaurant group, which included the award-winning Becasse restaurant and Etch, <a href="https://www.propertyobserver.com.au/commercial/justin-north-s-restaurant-group-collapses/2012060855048" target="_blank">collapsed in June last year</a>.
The Meat &amp; Wine Co, which is owned by Food Fund Australia, has taken a five-year lease with a five-year renewal option in a deal negotiated by CBRE’s Leif Olson.
The rental terms have not been disclosed.
The Meat &amp; Wine Co already has a restaurant at Darling Harbour (pictured below) and on Melbourne's Southbank, with a restaurant in Hawthorn East set to open next month.
<img src="/images/stories/2013/03/meatandwinemarch5one.jpg" width="470" height="313" alt="meatandwinemarch5one">
Olson said location was a key factor in the Macquarie Street lease.
“The opportunity to secure a prominent space within a luxury hotel with close proximity to Circular Quay was central to The Meat &amp; Wine Co’s decision,” Olson said.
The Meat &amp; Wine Co was established in 2000 by two of South Africa's most successful restaurateurs, Costa Tomazos and Bradley Michael.
Michael said the venture represented a new approach for the group.
“The InterContinental site offered us the iconic location we were looking for, however with 140 seats the space will allow us to create a smaller, more intimate model than our 300-plus seat flagship Darling Harbour location,” Michael said.
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Meat & Wine Co takes Etch space in Sydney's InterContinental Hotel 

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Office vacancy rates in in the Sydney suburbs have tightening noticeably over the past 12 months to January, according to a new report from Knight Frank.
Knight Frank records the suburban office vacancy rate declining from 9.5% to 7.9% between January 2012 and January 2013.
The Sydney suburban office market excludes the CBD and North Sydney office markets.
“While the drop in vacancy was partly a function of net supply, it was also reflective of steady organic demand,” notes Knight Frank.
Positive net absorption for the year (office space leased minus office space withdrawn from the market) measured 47,396 square metres or 1.6% of total stock.
The graph below shows that the vacancy rate has tightened in all suburban markets, bar the outer western Sydney market. 
Click to enlarge
<a title="Click to enlarge" rel="shadowbox" href="/images/stories/2013/03/chartoftheweekmarch6.gif"><img src="/images/stories/2013/03/chartoftheweekmarch6thumb.gif"></a>
According to Knight Frank, the majority of leasing activity which drove the healthy absorption figure occurred in the first half of 2012 with some loss of momentum in the second half of the year.
“This pattern was commensurate with the labour market, which showed metropolitan Sydney outperformed the NSW state total between mid-2011 until the second half of 2012 when both markets experienced some softening.
“With business conditions and confidence still below trend levels it is likely that leasing conditions will remain inconsistent over the first half of 2013 before an anticipated improvement in employment growth towards the end of the year.
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Sydney suburban office vacancy rates tightening: Chart of the week

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Let's go right back to basics and break down a commercial property investment into its fundamental components.
You see, very few investors seem to spend enough time to fully understand what's involved.
<h3>Your Investment = Equity + Debt + Ideas + Time</h3>
And you may care to explore each of these aspects in a little more detail.
<h3>Equity</h3>
When first starting in commercial property, most people assume equity simply means available cash. But that doesn't necessarily always need to be the case.
Naturally, every deal should stand on its own, from a financing perspective. In other words, you shouldn't allow your lender to control multiple properties as collateral, for just one loan.
However, that doesn't mean you can't arrange a line of credit on your home (or another residential property) to provide all, or part, of the equity required to secure the commercial property.
<h3>Debt</h3>
The lender for your new purchase doesn't really care where your equity (say 30%) actually comes from — so long as the income from the commercial property provides at least 1.2 times coverage, for your interest payments.
When arranging your finance, you need to pay particular attention to the loan structure. There are several things you should keep in mind, like:
<ul>
<li>Not just focusing on the rate and fees;</li>
<li>Building in flexibility for the future; and</li>
<li>Taking control of the actual valuation.</li>
</ul>
But right from the outset, you should always be considering clever...
<h3>Ideas</h3>
For you to enjoy "super growth" on your investment, you should continually be looking for properties where you can add genuine value.
And this comes in a variety of guises:
<ul>
<li>Bringing under-let tenancies up to proper market rentals;</li>
<li>Planned and progressive upgrading during your ownership;</li>
<li>Subdividing ONE title into two or more smaller components; or</li>
<li>Identifying change-of-use opportunities, to generate a higher net income from basically the same property.</li>
</ul>
No doubt you will come up with even more ways of your own, as to how you can add some further value.
<h3>Time</h3>
If you have bought well, your commercial property will generally grow in value (with inflation) over time. That's even if you do nothing by way of adding any value yourself.
So really, it all comes down to your attitude towards property management. And here you have several choices:
<ul>
<li>File and forget;</li>
<li>Maintain the property only when required;</li>
<li>Maintain the property in original condition; or</li>
<li>Adopt an ongoing program for upgrading.</li>
</ul>
If you're a bit of a scrooge, you will opt for either of the first two — and probably try to manage the property yourself.
However, this could prove a rather foolish approach, particularly given the current-day statutory compliance requirements.
As such, you would not only be missing out on growth opportunities but also running the real risk of incurring significant fines.
Engaging a professional property manager will allow you to implement, and benefit from, tax-deductible improvements, for which the market will ultimately reward you handsomely.
Bottom line: commercial property investing simply requires common sense, not rocket science.
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 href="https://bitly.com/IFf40C" rel="nofollow">his-best.biz</a>, which he updates regularly about the best way to get the most out of your commercial property investment.
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Commercial property investing simply requires common sense: Chris Lang

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Hobart house vendors are forced to offer the deepest discounts in order to secure sales, according to RP Data figures for the week ending March 3.
Hobart houses are selling for an average of 12% less than the vendor's original price hopes, and units are selling for an average of 5.8% less.
Meanwhile, Adelaide is the capital city where apartment vendors are having to offer the biggest discounts. Adelaide units are selling for an average of 7.2% less than their original price hopes. Similarly, Adelaide houses are being discounted at an average of 7.5% to secure sales.
Canberra vendors are having to offer the least discounts to complete sales, with average discounts of 4% for houses and 2% for units.
<img src="/images/stories/2013/03/rpdataweeklymarch5vendordiscount.gif" width="470" height="354" alt="rpdataweeklymarch5vendordiscount">
The rate of vendor discounting is the average percentage difference between the original listing price and the final selling price.
The statistics are calculated across results received by RP Data over the past week and include properties transacted over the past four weeks.
The data is based on private treaty sales only and records without a valid sale price have been excluded from the vendor discount analysis. The analysis also excludes results where there are less than 10 observations.
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Hobart house vendors discounting the most to secure sales: RP Data weekly index

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Malaysian developer Mammoth is seeking to expand its residential apartment projects in Melbourne following the success of its first project, MY80 Silver Skies.
The $250 million, 55-level skyscraper development at the corner of Elizabeth and A’Beckett streets is 80% sold with completion due late next year.
Mammoth has already added to its Melbourne CBD residential site inventory following its purchase, last December, of a sister site at 398 Elizabeth Street for $15.1 million, after negotiations with Mark Wizel at CBRE.
Mammoth hopes to build a sister tower on the site to complement MY80 (pictured below).
<img height="708" width="400" src="/images/stories/2013/03/my80march5one.jpg" alt="my80march5one">
“Melbourne has a vibe and an infrastructure that makes it one of the most liveable cities in the world. I have been very happy with our investments in Melbourne, and I am looking for other opportunities, particularly in the retail sector,” Mammoth owner and director Sean Ng told Property Observer during his recent visit to Melbourne.
“There are not many major cities in the world that has the infrastructure, the vibe and soul like Melbourne and still easily accessible by car or public transport.
“I want to bring to the people of Melbourne a sense of vibrancy with our projects and also international retail experiences.”
While Mammoth is not a well-known name (yet) in Australia, it is a substantial property development business in Malaysia, with its latest project being the 40-hectare development ‘Empire City’ on the outskirts of Kuala Lumpur, which will include retail, hotels, apartments and offices in a 12-tower complex with two Marriot-managed hotels and a 20-screen cinema complex.
The MY80 Melbourne site is smaller in comparison as it sits on a 1012-square-metre site.
<img height="246" width="470" src="/images/stories/2013/03/my80march5two.jpg" alt="my80march5two">
It is located just one block from RMIT University, Melbourne Central shopping centre and railway station and the Queen Victoria Markets.
The University of Melbourne is a short walk to the north and private colleges are in plentiful supply in the neighbourhood.
Designed by architectural firm Hayball, the curving, shimmering tower will offer residents a range of benefits not usually seen in this corner of the city.
The top floor is dedicated to a rooftop sky deck and terrace with spectacular views of Melbourne from the hills of the Dandenongs to city lights to the bay.
“A perfect place to sit back, relax with a wine from the cellar and catch up with friends, or for time out reading your favourite book – Manhattan style at its best,” says Andrew Fortey, co-founder and managing director of PDS Group, which represents Mammoth Empire Holdings and other Asian property developers in Melbourne.
“We see there are substantial opportunities for growth as we enter the Asian market, and we’ve already had referral work from the Asian-based developers in Melbourne and our portfolio of Asian developers continues to grow,” says Fortey.
For more on the allure of Australian property to Asian buyers, <a target="_blank" href="http://propertyobserver.com.au/ebooks/free-ebook-australias-allure-for-asian-residential-property-investment">download our free eBook. </a>The eBook is also available for<a target="_blank" href="http://propertyobserver.com.au/ebooks/australias-allure-for-asian-residential-property-investment-free-ebook"> free download in Chinese.</a>
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Mammoth seeks new Melbourne apartment opportunities following success with first residential tower

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<img height="160" width="400" alt="melbourneunits" src="/images/stories/2013/03/march5rpdata/melbourneunits.jpg">
The median gross rental yield landlords are securing for units in Melbourne, according to <a rel="nofollow" target="_blank" href="https://www.myrp.com.au/" style="font-size: 14px;">RP Data.</a> The median gross rental yield across Australia's eight capital cities was 4.9% for the quarter ending February 28, 2013.
<img height="158" width="400" alt="adelaideunits" src="/images/stories/2013/03/march5rpdata/adelaideunits.jpg">
The median gross rental yield landlords are securing for units in Adelaide, according to <a rel="nofollow" target="_blank" href="https://www.myrp.com.au/" style="font-size: 14px;">RP Data.</a> The median gross rental yield across Australia's eight capital cities was 4.9% for the quarter ending February 28, 2013.
<img height="170" width="400" alt="sydneyunits" src="/images/stories/2013/03/march5rpdata/sydneyunits.jpg">
The median gross rental yield landlords are securing for units in Sydney, according to <a rel="nofollow" target="_blank" href="https://www.myrp.com.au/" style="font-size: 14px;">RP Data.</a> The median gross rental yield across Australia's eight capital cities was 4.9% for the quarter ending February 28, 2013.
<img height="186" width="400" alt="hobartunits" src="/images/stories/2013/03/march5rpdata/hobartunits.jpg">
The median gross rental yield landlords are securing for units in Hobart, according to <a rel="nofollow" target="_blank" href="https://www.myrp.com.au/" style="font-size: 14px;">RP Data.</a> The median gross rental yield across Australia's eight capital cities was 4.9% for the quarter ending February 28, 2013.
<img height="157" width="400" alt="perthunits" src="/images/stories/2013/03/march5rpdata/perthunits.jpg">
The median gross rental yield landlords are securing for units in Perth, according to <a rel="nofollow" target="_blank" href="https://www.myrp.com.au/" style="font-size: 14px;">RP Data.</a> The median gross rental yield across Australia's eight capital cities was 4.9% for the quarter ending February 28, 2013.
<img height="160" width="400" alt="canberraunits" src="/images/stories/2013/03/march5rpdata/canberraunits.jpg">
The median gross rental yield landlords are securing for units in Canberra, according to <a rel="nofollow" target="_blank" href="https://www.myrp.com.au/" style="font-size: 14px;">RP Data.</a> The median gross rental yield across Australia's eight capital cities was 4.9% for the quarter ending February 28, 2013.
<img height="155" width="400" alt="brisbaneunits" src="/images/stories/2013/03/march5rpdata/brisbaneunits.jpg">
The median gross rental yield landlords are securing for units in Brisbane, according to <a rel="nofollow" target="_blank" href="https://www.myrp.com.au/" style="font-size: 14px;">RP Data.</a> The median gross rental yield across Australia's eight capital cities was 4.9% for the quarter ending February 28, 2013.
<img height="174" width="400" alt="darwinunits" src="/images/stories/2013/03/march5rpdata/darwinunits.jpg">
The median gross rental yield landlords are securing for units in Darwin, according to <a rel="nofollow" target="_blank" href="https://www.myrp.com.au/" style="font-size: 14px;">RP Data.</a> The median gross rental yield across Australia's eight capital cities was 4.9% for the quarter ending February 28, 2013.
For RP Data figures on yields landlords are securing for houses in Australian capital cities, see our story <a href="https://www.propertyobserver.com.au/landlords/melbourne-houses-deliver-lowest-rental-yields-rp-data-capital-city-analysis/2013030359673" target="_blank">here</a>.
Photo courtesy of Flickr.
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Melbourne units deliver lowest rental yields: RP Data capital city analysis

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As someone who travels interstate regularly, one of my major frustrations (as I am sure it is with most passengers) is with airport delays.
Whether it is planes delayed in their take-off or coming home to Brisbane and having to circle over the Gold Coast for 30 minutes before we have clearance to land, it is one of the least enjoyable aspects of travel.
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When you have a look at the growth in flight and passenger numbers over recent years and consider the lack of investment in additional airports or airport expansions it is no surprise why delays are virtually inevitable.
Data published by the Australian Department of Infrastructure and Transport highlights airport passenger figures, which shows why so many of our planes are leaving or arriving so late.
Politically, building new airports is a very sensitive issue, as highlighted by the fact that governments have been trying to agree on a site for a second Sydney airport for many years and we still appear no closer to a solution.
Preliminary data shows that the number of airport movements increased by 4.2% throughout 2012, with 1,429,497 flights over the year and 140,928,756 passengers.
The major capital city airports have seen flight volumes increase by 4.1% over the year and passenger number growth of 4.8%, while the number of flights has increased by 4.6% in non-major capital city airports with passenger growth of 2.7%.
The nation’s three busiest airports are those which service the three largest cities (Sydney, Melbourne and Brisbane).
These three airports accounted for 48.7% of all flights over the year and 61.7% of all passengers. When you include the fourth largest airport, Perth, 55.5% of all flights and 70.7% of all passengers went through these four airports.
Sydney airport alone accounted for 20.9% of all flights and 26.3% of all passengers.
Of course, these four cities service the most populous regions of the country and they account for about 56% of residents, highlighting that the number of flights is in-line with the population, however, there is a disproportionate amount of passenger movements through these four airports.
This is largely due to the fact that these four airports act as the major hubs for international flights and many intra-state connecting flights.
<a rel="wp-prettyPhoto[g1943]" href="https://blog.rpdata.com/wp-content/uploads/2013/03/Major-airports.jpg"><img height="240" width="570" src="https://blog.rpdata.com/wp-content/uploads/2013/03/Major-airports.jpg" title="Major airports" class="aligncenter size-full wp-image-1945"></a>
Over the past 20 years, the number of flights at a national level has increased at an average annual rate of 1.3% and the average annual rate of growth has been a much higher 2.7% over the same period across major capital city airports.
Over the period, flight numbers through Perth have increased at an average annual rate of 4.7% followed by 3.2%pa through Brisbane and 3.1%pa through Melbourne.
<a rel="wp-prettyPhoto[g1943]" href="https://blog.rpdata.com/wp-content/uploads/2013/03/No-of-flights-table.jpg"><img height="336" width="570" src="https://blog.rpdata.com/wp-content/uploads/2013/03/No-of-flights-table.jpg" title="No of flights table" class="aligncenter size-full wp-image-1946"></a>
The reason why these airports are seeing so much traffic is because most of the major businesses are located in these cities and these airports also generally act as gateways to the regional areas of the state.
Despite the fact that air travel has surged over recent times, there has been very little investment in airport infrastructure. Outside of the expansion of Avalon Airport in Victoria as a second Melbourne airport there has been minimal action on secondary airports or development of additional runways.
The cost associated with delayed flights to businesses and the negative impact these delays potentially have on Australia’s tourism sector are, I believe, too important to ignore. The statistics show that air travel is continuing to grow, but airport capacities are failing to grow accordingly.
Let me know what you think. How important is it to provide additional major airports and to boost the capacity of our current airports? Is enough being done to cater to our future needs?
Cameron Kusher is senior research analyst at<a target="_blank" rel="nofollow" href="https://www.rpdata.com.au/"> RP Data</a>.
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