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“Minister Chanthivong and his team have shown real leadership in replacing an outdated two-year bond with cover that matches the lifespan of the buildings people are buying into.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

Joel Robinson

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

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

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

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

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

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

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

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

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

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

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

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

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

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

Every First Home Owner Grant for new property by state

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

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

Staff Writer

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

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

alisonwarters@gmail.com

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

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

Ellen Walker

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

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

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

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The Perth CBD is expected to be the top performing capital city office market this year despite mining companies reducing their costs and office space requirements, says BIS Shrapnel chief economist Frank Gelber.
However, Sydney is the best bet over the next five years with very little new CBD office space coming onto the market over this time period.
“As demand recovers, vacancy rates will tighten, leasing incentives will reduce, rents and property values will rise,” he says.
Gelber expects Sydney to be the top performing office market from 2014 onwards, despite projects like Barangaroo South adding over 120,000 square metres in new office space and due for completion in 2015.
He says the impact of Barangaroo has been built into BIS Shrapnel’s forecasts and he rejects “crazy comments” about the project pushing the Sydney vacancy rate to as high as 9%.
However, he says the other capital city office markets including Melbourne are “way behind”.
BIS Shrapnel is forecasting the Melbourne vacancy rate to reach 10% over the next few years from a current vacancy rate of 6.9%.
New projects and a lack of demand for fringe office space will also keep the vacancy rate elevated in Brisbane.
“This year, we think Perth will again top the pops – despite a recent setback in demand.
“While strong in the first half, net absorption turned negative in the second half of the year,” Gelber writes in The Australian.
Negative net absorption means that more office space was vacated than leased over the second half of 2012  - as mining companies downsized their space requirements.
Gelber highlights though that while mining investment is no longer growing at the “extraordinary rate that drove growth in mining services and hence office demand over the past decade, “it is [still] growing”.
Furthermore supply will dry up once the current spate of office projects are completed.
According to the most recent Property Council of Australia office report for the second half of 2012, the Perth CBD vacancy rate eased from 4.2% to 5.7% in December, but still remains the tightest capital city CBD office market.
“The Perth office market was affected by cost-cutting in resources companies, particularly the iron ore sector, last year. This resulted in less demand for office space by firms providing professional services to the sector”, said Property Council executive director, Joe Lenzo.
Lenzo says demand for Perth office space was at its weakest since 2009, with premium office space experiencing the largest increase in vacancy rates from 1.3% to 4.5% with a negative net absorption of just over 10,000 square metres.
However, mirroring Gelber’s sentiments, he says the new office pipeline will “tighten significantly in 2013” with only 12,249 square metres of new office space coming online in the Perth CBD over the year – a fraction of 180,000 square metres in new office space added in 2012.
From 2014 onwards the new office pipeline will gradually increase again”, he says.
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Perth to be the top office performer in 2013 but Sydney to step up from 2014: Frank Gelber

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A property recovery is underway. The recovery will be modest and still below long-term growth averages for the nation, however, there is little doubt that property will be more expensive in 2013.
Signs point to growth potential for a number of residential sectors as a result of a positive shift in market sentiment in late 2012, the likes of which were evident in 2010 when Melbourne prices demonstrated solid growth. 2012 saw a steady increase in clearance rates and a small return to the market due to growth in median averages. The increase in the clearance rate from this time last year until the present is over 20%.
Property investors were among the most active buyers in 2012, but while this buyer segment is expected to remain active this year they will face rising competition from increasingly active owner-occupiers looking to upgrade or downsize following improved market conditions.
However, despite improved conditions buyers should exercise caution when engaging in a purchase. Property has become an increasingly complex investment vehicle and is no longer a simple prospect for the novice investor.
It’s important to recognise that no two properties perform the same because no two properties are exactly the same. Size, suburb, street and lot location, orientation, condition and broader economic conditions underpin property performance on an individual level, and exercise significant influence on capital growth.
In general terms, in 2013 the most active segment of the market is expected to be the middle tier established housing market, particularly family homes in the range of $600,000 to $2 million. This assessment is based on historical market performance, which is typically a sound indicator of future potential performance.
When purchasing property, investing time in analysing a property’s individual historical performance trend is a worthwhile exercise to provide peace of mind and some degree of certainty regarding future investment performance.
Property is far more complex today than it was in the past and no longer is it an investment vehicle for uneducated investors. Not all property will perform in the same in 2013 and buyers need to be informed and aware of this when buying to ensure they understand the capital growth drivers that make a good investment property.”
There are signs of a positive shift for property values, the likes of which we haven’t seen since 2010 including:
<ul>
<li>More bidders at auctions and more interest at open for inspections.</li>
<li>Anecdotal evidence of much better results being obtained at private sales.</li>
<li>Second-ring areas and outer suburbs reporting strong selling results.</li>
<li>The market had a strong spring and experience tells me that a good result in spring leads to a strong summer/autumn.</li>
</ul>
It should be noted that banks and lending institutions are doing everything they can to present attractive lending options. When the banks are lending at low interest rates the buyers will return to the market.”
Overarching tips for 2012
Remember, use the rule 'location, location, location' in all property transactions - buy in the right suburb, on the right street and in the right position on the street or block.
By making smart well-informed property decision you will watch your investment grow.
If you don't have the time (up to 20 hours per property) or the confidence to buy a flawless investment then seek advice from a certified property advisor. Don’t risk a guess on such a large investment.
Greville Pabst is CEO of <a target="_blank" href="https://www.google.com.au/url?sa=t&amp;rct=j&amp;q=&amp;esrc=s&amp;source=web&amp;cd=1&amp;ved=0CEAQFjAA&amp;url=http%3A%2F%2Fwww.wbpproperty.com%2F&amp;ei=Jb4hUevODOyamQX6mIGYDQ&amp;usg=AFQjCNH0u8Ji9ymluq8AKARfB-KjHZ-aFA&amp;sig2=DNsIKQR7tQj4PtYuiJOHPA&amp;bvm=bv.42553238,d.dGY">WBP Property Group.</a>
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A modest property recovery is underway led by “middle tier” family homes: Greville Pabst 

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It’s true that every deal will be different. But that does not mean you can't use a series of simple measures to help you sift the "wheat from the chaff”.
How to quickly shortlist your properties
Basically, there are three simple tests you can apply to filter out potential properties that are not worth spending any further time on.
1. The net yield
This is the figure that quickly tells you what the net operating income (NOI) represents as a percentage of the actual purchase price you may ultimately pay [where NOI = gross income - operating expenses].
Naturally, the appropriate net yield will vary with the type, age and location of the property, as well as the actual marketplace over time. However, with a little research (or help from your consulting team) you'll quickly be able to establish what that figure ought to be for potential properties in your area.
2. Cash-on-cash return
You should also establish what your annual cashflow is as a percentage of the equity you invest [where annual cashflow = NOI - interest payments].
However, when calculating your equity contribution, an LVR of 70% requires you to provide 30% of the purchase price, plus acquisition costs (like stamp duty, legals, etc.) — for which you should allow a further 7.5% to 8% of the purchase price.
By way of a guide,  your cash-on-cash return ought calculate to be no less than 10% in order to make a deal worthy of further consideration.
3. Debt coverage ratio
Your next test is a favourite with financiers. And you calculate it by simply dividing your NOI by the interest payment.
Generally, financiers like to see this figure is at least 1.2 times your debt servicing costs. Otherwise, you will need to provide proof of additional income or pledge further assets as additional collateral.
Remember: You can have a positive cashflow and still have a negative taxable income by fully claiming your appreciation entitlements.
Armed with a viable shortlist, you are now in a position to determine which property (or properties) should undergo a more thorough financial analysis.
To further trim this shortlist, clients use my <a target="_blank" href="https://investor-lab.biz/your-tool-box">high-speed filter</a> to help ensure a quick and consistent selection.
This also serves to match up your investment objectives with your buying criteria — and thereby, impartially rate each potential property for you.
Bottom line: The secret in all of this is to confirm you are working with real numbers.
Always ensure your NOI calculation is based on what the property actually returns instead of relying upon a vendor's rosy projections of what the property might potentially generate.
Chris Lang is an advisor to commercial property investors, sell-out author and regular speaker on how to invest in commercial property. You can visit his website <a target="_blank" href="https://property-edge.com.au/">Property Edge Australia</a> to help you get the most out of your commercial property investing.
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How you can find the best deal when buying a commercial investment property: Chris Lang

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In its Global Powers of Retailing 2013 report, Deloitte highlights that Australia has seen a significant influx of overseas retailers over the past two or three years and this trend “looks set to continue”.

According to White, Australia’s advanced economy and stable political and legislative structures makes it an attractive destination for global retailers and also acts as a springboard into the potentially highly lucrative growth economies in Asia.

For more on this trend read David White’s column: <a target="_blank" href="https://www.propertyobserver.com.au/retail/why-global-retailers-are-setting-up-shop-in-australia/2013021959438?utm_source=po&amp;utm_medium=aida&amp;utm_campaign=observers/" title="Why global retailers are setting up shop in Australia"> Why global retailers are setting up shop in Australia </a>

Watch David White discuss the Global Powers of Retailing 2013 report

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The future of global retailing and Australia’s appeal: David White of Deloitte

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Melbourne shopaholics, get your credit cards out and brace yourselves.
Shoppping centre developer GPT will score a retailing first when it opens both a Zara and Topshop in the new wing of its $300 million redevelopment of the Highpoint Shopping Centre in Maribynong,  in less than a month.
It will be the first time in Australia that a shopping centre offers both global fashion brands under one roof.
The arrival of the two global retail brands to Melbourne's inner west comes as Colliers International forecast overseas brands to open around <a target="_blank" href="https://www.propertyobserver.com.au/retail/zara-topshop-and-uniqlo-lead-retail-property-push-into-australia/2013021859421">300 new stores in Australia's capital cities</a> over the next few years, with fashion heavyweights Uniqlo, Zara and Topshop leading the charge.
The new Zara Highpoint store wil act as a cornerstone to connect the new Highpoint wing with the existing centre.
“We’re very pleased to be welcoming Zara to Highpoint and delighted to be the first Australian shopping centre owner to offer customers convenient access to international fashion giants Zara and Topshop under the one roof,” says GPT’s head of asset management Matthew Faddy
Zara forms part of Spanish retail company INDITEX and has over 1,700 stores across 85 markets.
It currently operates a store on the Bourke Street mall in Melbourne.
The first Topshop store in Melbourne opened in the Jam Factory on Chapel Street in the space that was previously occupied by Borders books.
Topshop is UK-based and was started by retailing billionaire Sir Philip Green.
A third Topshop store is due to open in the Myer Emporium currently under construction in the Melbourne CBD.
The new wing will officially open on 14 March with Topshop opening on the same day and Zara opening either on the same day or shortly after
“The second stage of the development will deliver a 14,000 square metre, two-level David Jones store, the first to Melbourne’s West, and approximately 80 new speciality retailers including Australian and international designer fashion, homewares and lifestyle stores. Zara will make an exciting addition to this mix,”   says GPT’s head of development Anthony McNulty.
“Once completed Highpoint will be home to more than 520 retailers, feature new community spaces and accommodate 7,000 car spaces.”
The new Highpoint Fashion Mall, the final stage of the centre’s development, will complement the Fresh Food Market and Eco Mall which opened last year. The Fresh Food Market and Eco Mall opened in October last year and features a Woolworths supermarket plus a range of speciality fresh food, children’s wear, services and general merchandise retailers
Highpoint Shopping Centre is co-owned by Highpoint Property Group, GPT Wholesale Shopping Centre Fund and The GPT Group. 
It is valued at $845 million as of December 31.
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Highpoint scheduled March opening for Zara and Topshop double-act

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The Sydney CBD market has maintained its ninth-placed ranking among the list of the most expensive locations in the world to rent office space.
Sydney has an occupancy cost of €992 per square metre, according to Cushman &amp; Wakefield’s Office Space Across the World 2013 report


Occupancy costs include base rent, turnover rent and other outgoings and expenses.
The  top ten list is headed by London’s West End (€2,137 per square metre), which regained its crown from Hong Kong’s Central Business District (€1,505 per square metre),
The biggest upward move was made by Rio de Janeiro’s Zona Sul which went from eighth most expensive office market to third most expensive.
Managing director of Cushman &amp; Wakefield Australia David Woolford says Sydney’s ninth place ranking in terms of global office occupancy costs confirms its position as a world class financial centre.
“This ranking reflects the premium standard of office stock available in Sydney and we expect Barangaroo will raise the bar even higher.
“It is interesting to note there is only a 6-10% differential between the destinations ranked 6 to 10 in this research and Sydney is consistently ranked in the top ten in terms of occupancy costs in the world,” he says.
<table style="width: 470px;" border="1" cellspacing="0" cellpadding="0"><tbody>
<tr>
<td width="491" colspan="6" valign="top">
Top 10 most expensive office locations by country
</td>
<td width="109" valign="top">
 
</td>
</tr>
<tr>
<td width="75" valign="top">
2012 rank
</td>
<td width="76" valign="top">
2013 rank
</td>
<td width="83" valign="top">
country
</td>
<td width="75" valign="top">
city
</td>
<td width="85" valign="top">
location
</td>
<td width="97" valign="top">
occupancy cost (€/sq.m/year)
</td>
<td width="109" valign="top">
Occupancy Cost (US$/sq.ft/year)
</td>
</tr>
<tr>
<td width="75" valign="top">
2
</td>
<td width="76" valign="top">
1
</td>
<td width="83" valign="top">
UK
</td>
<td width="75" valign="top">
London
</td>
<td width="85" valign="top">
West End
</td>
<td width="97" valign="top">
2,137
</td>
<td width="109" valign="top">
262
</td>
</tr>
<tr>
<td width="75" valign="top">
1
</td>
<td width="76" valign="top">
2
</td>
<td width="83" valign="top">
Hong Kong
</td>
<td width="75" valign="top">
Hong Kong
</td>
<td width="85" valign="top">
CBD
</td>
<td width="97" valign="top">
1,505
</td>
<td width="109" valign="top">
184
</td>
</tr>
<tr>
<td width="75" valign="top">
8
</td>
<td width="76" valign="top">
3
</td>
<td width="83" valign="top">
Brazil
</td>
<td width="75" valign="top">
Rio de Janeiro
</td>
<td width="85" valign="top">
Zona Sul
</td>
<td width="97" valign="top">
1,343
</td>
<td width="109" valign="top">
165
</td>
</tr>
<tr>
<td width="75" valign="top">
5
</td>
<td width="76" valign="top">
4
</td>
<td width="83" valign="top">
India
</td>
<td width="75" valign="top">
New Delhi
</td>
<td width="85" valign="top">
Connaught Place
</td>
<td width="97" valign="top">
1,324
</td>
<td width="109" valign="top">
162
</td>
</tr>
<tr>
<td width="75" valign="top">
3
</td>
<td width="76" valign="top">
5
</td>
<td width="83" valign="top">
Japan
</td>
<td width="75" valign="top">
Tokyo
</td>
<td width="85" valign="top">
CBD (5 Central Wards)
</td>
<td width="97" valign="top">
1,274
</td>
<td width="109" valign="top">
156
</td>
</tr>
<tr>
<td width="75" valign="top">
4
</td>
<td width="76" valign="top">
6
</td>
<td width="83" valign="top">
Russia
</td>
<td width="75" valign="top">
Moscow
</td>
<td width="85" valign="top">
CBD
</td>
<td width="97" valign="top">
1,141
</td>
<td width="109" valign="top">
140
</td>
</tr>
<tr>
<td width="75" valign="top">
6
</td>
<td width="76" valign="top">
7
</td>
<td width="83" valign="top">
China
</td>
<td width="75" valign="top">
Beijing
</td>
<td width="85" valign="top">
CBD
</td>
<td width="97" valign="top">
1,074
</td>
<td width="109" valign="top">
132
</td>
</tr>
<tr>
<td width="75" valign="top">
7
</td>
<td width="76" valign="top">
8
</td>
<td width="83" valign="top">
USA
</td>
<td width="75" valign="top">
New York
</td>
<td width="85" valign="top">
Midtown (Madison/5th Avenue)
</td>
<td width="97" valign="top">
1,052
</td>
<td width="109" valign="top">
129
</td>
</tr>
<tr>
<td width="75" valign="top">
9
</td>
<td width="76" valign="top">
9
</td>
<td width="83" valign="top">
Australia
</td>
<td width="75" valign="top">
Sydney
</td>
<td width="85" valign="top">
CBD
</td>
<td width="97" valign="top">
992
</td>
<td width="109" valign="top">
122
</td>
</tr>
<tr>
<td width="75" valign="top">
10
</td>
<td width="76" valign="top">
10
</td>
<td width="83" valign="top">
France
</td>
<td width="75" valign="top">
Paris
</td>
<td width="85" valign="top">
CBD
</td>
<td width="97" valign="top">
915
</td>
<td width="109" valign="top">
112
</td>
</tr>
</tbody></table>
 Source: Cushman &amp; Wakefield
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Sydney remains ninth most expensive office rental market in the world: Cushman & Wakefield

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Expressions of interest close today for a development site in the east Melbourne suburb of Blackburn that was once a fruit orchard and forms part of the estate of  the late Alan Herbert ‘Bert’ Cock, who played VFL in the early 1900s.
He died in April last year.
Cock played just two games for Collingwood in 1909 scoring one goal.
His brother, Eric was a more successful VFL player and a member of the Collingwood team which contested the 1922 VFL Grand Final playing 36 games and scoring 40 goals.
Another brother, Arthur, played two games for St Kilda in 1924.
The 10,360 square metre property stands at 59-67 Surrey Road, Blackburn North with three street frontages, 12 title allotments and is a 20-minute drive to the Melbourne CBD.
The portion up for sale is the remnant of the original 8.9 hectare estate, which was originally a large orchard operated by Bob Slater through the first half of the 1900s, and which is now the children’s playground known as Slater Reserve.
Since 1919 it has been owned by Herbert and Eva Cock or their immediate descendants.
The property harks back to the days when Blackburn was a country suburb, with the investment report noting that “all five family members loved the property and spent much of their lives on it watching its evolution from quiet countryside to busy suburbia”.
Eva Phillips, one of 14 siblings in a large orcharding family in Tunstall (now Nunawading) married Bert, a VFL footballer from Clifton Hill in 1914.
When they purchased the land in 1919, Bert and Eva, built a two room cottage close to Koonung Creek (now lot 11 Kent Close) and some 20 acres of orchard was painstakingly established.
Produce was initially taken by horse and wagon to Victoria Market however, with the development of reliable trucks and refrigerated transport, produce was trucked to the Blue Moon Co-operative (rail siding to the east of Blackburn Station) then shipped from Station Pier to Europe.
By the mid-1950s and to support their retirement, around 7.7 hectares of the property was sub-divided for urban housing. All five family members loved the property and spent much of their lives on it watching its evolution from quiet countryside to busy suburbia.
<a target="_blank" href="https://www.woodards.com.au/index.cfm?pagecall=property&amp;propertyid=2234678">It is being sold by Julian Badenach and Cameron Way of Woodwards with expectations of a price in excess of $4 million</a>.
“We are expecting interest from a number of investment bodies. Aged care services,  property developers interested in land subdivision for the creation of small house blocks as well as medium and high density units, townhouses and apartments are all showing interest,” Badenach tells Property Observer.
The land is zoned Residential 1 Zone and is close to Westfield Doncaster, Centro Box Hill and Blackburn North Village retail strip.
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Blackburn orchard owned by former VFL player Bert Cock seeks $4 million from developers

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For many global retailers, Australia represents a relatively untapped market. Its geographical location, opposing seasons to North America and Europe, smaller critical mass and more attractive growth opportunities in domestic markets in Europe and the U.S. have meant that Australia has remained somewhat sheltered from many international competitors.
However, with many economies in Europe and North America experiencing significantly declines in growth, Australia has become of more interest to many global retailers. Whilst forecast retail growth rates in Australia of 2.9% for 2012-13 are relatively modest, they are still higher than many growth rates in North America and Europe.
Similarly, with an advanced economy and stable political and legislative structures, setting up operations in Australia is a relatively easier prospect doing so in other less developed countries. It also allows global retailers to use this expansion into Australia as a springboard into the potentially highly lucrative growth economies in Asia.
With the strengthening of the Australian dollar and the increasing use of online as a medium for shopping, many Australians have taken to purchasing products from overseas. This has awakened global retailers to demand for their products from Australian consumers. It has also given them vital information on what Australian consumers want which is a significant benefit when setting up business in Australia.
Global retailers also have a number of potential competitive advantages over local Australian retailers. With operations globally, there are naturally potential economies of scale which can be used to bring products to Australian shores at cheaper prices. Many global retailers, particularly in the fashion retail space, have invested significantly in building their brand equity. Such brands are highly attractive to many consumers, as we have seen with the new store openings of Zara and Topshop in Australia which have proven to be highly successful.
Many such retailers are more advanced in terms of vertical integration, which allows new products to be brought to consumers quicker, more conveniently and at a lower price. Customer experience and customer service are also areas where typically many global retailers are more developed.
What does this mean for Australian retailers?
Undoubtedly, the influx of global retailers to the Australian market has and will continue to increase competition. However, we shouldn’t forget that Australian retailers still have a number of advantages including a greater knowledge of the local market, customers and seasons; an established customer base; and prime store locations.
For Australian retailers to be successful it’s vital that their response to global competition is positive and developed around a well thought out long term strategy. Being price competitive will always be an important part of a retailer’s strategy, but it can only have limited success against a retailer with a global presence and potential greater economies of scale. Therefore it will be vital to differentiate and adapt, be it through product or customer innovation, branding, sales channels, speed to market or customer experience.
With some of the largest global retailers entering the market it’s an opportunity for Australian retailers to step up to the challenge. Australian retailers need to have a long term strategy which addresses globalisation and which ensures they have a point of difference. In doing so, many more Australian retailers will be competing and potentially succeeding against some of the biggest retailers in the world.
David White is <a target="_blank" href="https://www.deloitte.com/view/en_AU/au/index.htm">Deloitte's</a> national leader  for retail, wholesale &amp; distribution and author of the report: Global Powers of Retailing 2013.
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Why global retailers are setting up shop in Australia

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With the release of the RP Data-Rismark Home Value Index results earlier this month, we also received the updated information on median selling prices of homes over the three months to January 2013.  This data revealed that the gap between selling prices of houses and units reached a record high over the first month of year.
Click to enlarge
<a title="Click to enlarge" rel="shadowbox" href="/images/stories/2013/02/kusher1.gif"><img src="/images/stories/2013/02/kusher1thumb.gif"></a>
At a national level, median selling prices of houses were 11.4% higher than median selling price of units and across the combined capital cities, the differential was a much larger 19.4%. Five years ago, the differential was 15.6% and 8.3% respectively and a decade ago capital city houses were 1.1% more affordable than units and nationally houses were 5.6% more affordable.
Click to enlarge
<a title="Click to enlarge" rel="shadowbox" href="/images/stories/2013/02/kusher2.gif"><img src="/images/stories/2013/02/kusher2thumb.gif"></a>
Across most individual capital cities the difference between selling prices of houses and units is at a record high.  In fact, Adelaide and Hobart are the only cities where the difference is not currently at record highs and they are only 2.6% and 5.0% off the records respectively.  The above chart highlights the differential across the major capital cities over time.  The graph also shows that since the start of the 2000’s the gap between the median price of a house and that of a unit has increased significantly.
Click to enlarge
<a title="Click to enlarge" rel="shadowbox" href="/images/stories/2013/02/kusher3.gif"><img src="/images/stories/2013/02/kusher3thumb.gif"></a>
The difference between median selling prices of houses and units is currently quite significant across individual capital cities. In particular, some of the most expensive housing markets nationally such as Sydney, Melbourne, Darwin and Canberra all have a price differential in excess of $100,000. Across the individual capital cities the current differences are:
<ul>
<li>Sydney $171,000</li>
<li>Melbourne $103,250</li>
<li>Brisbane $99,500</li>
<li>Adelaide $78,000</li>
<li>Perth $96,000</li>
<li>Hobart $85,750</li>
<li>Darwin $164,000</li>
<li>Canberra $165,000</li>
</ul>
The significant price difference is highlighted by the fact that houses remain a much more popular choice across the nation than units.  The 2011 Census showed that 75.6% of all occupied dwellings were houses.  Although houses remain more popular, for price sensitive purchasers, particularly in major capital cities, units may be the only option for these buyers to enter the market.  With the gap widening between house and unit prices you would expect that unit sales activity would be increasing but this has not been the case over recent years.
Click to enlarge
<a href="/images/stories/2013/02/kusherfeb19.gif" rel="shadowbox" title="Click to enlarge"><img src="/images/stories/2013/02/kusherfeb19thumb.gif"></a>
Of those properties sold over the 12 months to November 2012, units accounted for just 29.2% of sales across the combined capital cities and 25.6% at a national level.  As the graph above shows, there has been a strong trend toward fewer unit sales since late 2009.  This trend was probably influenced to some extent by the boos t to the First Home Owners Grant and the subsequent surge in first time buyers, many of whom were looking to purchase detached homes.  It is important to note that this trend may be slightly overstated due to the fact that off-the-plan unit sales are not provided until the property is titled however, there remains a trend toward fewer unit sales over recent years.  This seems to contrast dwelling approvals data which was released earlier this week.
Click to enlarge
<a href="/images/stories/2013/02/kusherfeb20.gif" rel="shadowbox" title="Click to enlarge"><img src="/images/stories/2013/02/kusherfeb20thumb.gif"></a>
The annual dwelling approvals data shows that the proportion of units approved for construction has reached an historic high with 40.4% of all approvals over 2012 for units.  Of course the data still shows that the majority of approvals are for houses but it is noteworthy that more than half of all New South Wales approvals and almost half of all Victorian approvals were for units.  Given that in Sydney and Melbourne there is such a large gap between median house and unit prices this may be indicative of developers offering the market a cheaper housing alternative in the form of units. However, given that the number of unit transactions has been falling since 2009, are more units what the marketplace wants?
I believe that most Australian’s still aspire to own their detached home however; the high cost of vacant land coupled with limited new land supply and the concentration of employment opportunities within a few major centres has made owning a detached home out of reach for some.  For others, the only locations in which they can afford to own a detached home is either in a regional market, where there are fewer job opportunities, or on the outskirts of the city where amenity and infrastructure is less abundant than in those areas closer to the city centre.
Higher density units within inner city areas remain popular with investors because of their strong rental demand and subsequent attractive rental returns.  As a result of the more affordable price point of units as opposed to houses and their appeal to investors, I believe we will continue to see more and more units being developed, in particular within inner city areas.  Whether or not it is necessarily the product type that the market aspires to own, is unlikely to matter, given the reality is that for a proportion of the population, units are the only product type that they can afford in the location that they desire (unless they choose to locate within the more affordable detached housing areas on the outskirts of the major cities).
What do you think, are more units what the market wants and are units a viable alternative to the high cost of detached houses?
Cameron Kusher is senior research analyst at <a target="_blank" href="https://blog.rpdata.com/">RP Data</a>.
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ckusher-ujnxiKuFQs

Record gap between median house and unit prices may not mean demand for units is rising: Cameron Kusher

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The Channel 9 television executive David Gyngell has spent $5.25 million to buy a half share of John "Strop" Cornell's Hotel Brunswick at Brunswick Heads.
The Brunswick pub is a northern NSW tourist stop-over location known for its traditional pub food, a shady beergarden, and the vintage ambience of classic Austalian 1940s architecture.
The "Bruns" has courtyard space shaded by giant poinciana trees.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/stories/2013/02/hotelbrunswickfeb20.jpg" alt="hotelbrunswickfeb20" width="470" height="305">
It ranked highly in the 2011 Best Of Summer Top 10 Beer Gardens by the Daily Telegraph being placed in number two position behind the Opera Bar @ Circular Quay.
The small coastal village pub was built in 1940 by Jim Cavill overlooking the Brunswick River and Simpsons Creek.
It was almost two decades earlier that Jim Cavill had built the 16-room Surfers Paradise Hotel in what was then Elston and then campaigned to have it renamed Surfers Paradise which occured in 1934.
<a href="https://www.hotelbrunswick.com.au/history/" target="_blank">The first hotel in Brunswick Heads was Bob Marshall’s Ocean View Hotel, which opened in 1884</a>.
The freehold of the pub was bought by the Cornell-directed Hizan Holdings in 1990 from Austotel for $2.1 million.
Hizan has recently touted getting development permission for the site but had a dispute with the local council about the definition of “floor area”.
Property Observer gathers the dispute was concluded without the need for contested litigation.
Gyngell, who has a newly completed retreat in the Byron Bay hinterland, has been a family friend of John Cornell and Delvene Delaney.
Gyngell’s gather, Bruce, helped found the Nine network in 1956. Another father figure was Kerry Packer who died on Boxing Day 2005.
The fellow Byron hotel owner John Cornell, who was the legendary producer who managed Paul Hogan and helped Kerry Packer set up World Series Cricket in 1977, is like a father figure to him.
The purchase had been mooted, but the official paperwork was only available last week at the land titles office.
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