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“Minister Chanthivong and his team have shown real leadership in replacing an outdated two-year bond with cover that matches the lifespan of the buildings people are buying into.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 absence of first-home buyers in NSW is becoming a major political and housing issue.
But it presents a bonus for investors, given the likely lack of competition in securing some properties at the moment.
Much of the finger pointing has been at the NSW state government following the axing of its first-home owner concessions for the purchase of existing homes. 
The Daily Telegraph has estimated there might be 40,000 fewer buyers this year after Treasurer Mike Baird's tightening of eligibility for the first-home owner grants.
The decison is estimated to boost government coffers by $1 billion a year – more than twice the figure originally budgeted.
The ABS statistics for December last year revealed yesterday just 988 NSW first home owner loans compared to about 4200 in December 2011, when the full array of government grants were available.
But its not just NSW where first- home buyers are pulling back.
The ABS first-time buyer numbers showed nationally they accounted for 14.9% all loans taken out in December – the smallest proportion since 2004 and well below the recent 20% average.
The state govenments that have initiated the shift to new home subsidy rather than continue with the established home subsidy always suggested it would take a while for first-home buyers to adjust to the new incentives.
But while Westpac had expected first-home buyer (FHB) loans to remain soft in December due to the demand shifts associated with changes in state government incentives/stamp duty arrangements, it found actual state mix puzzling.
"We had expected December to show particular weakness in Victoria where stamp duty concessions for FHBs were set to increase substantially in January.
"Meanwhile NSW was expected to stabilise as the unwind from a previous pull forward in demand ended," Westpac notes.
"Instead FHB approvals posted another steep fall in NSW to extremely low levels (lowest since early 1990s), with a sharp fall in Queensland as well but a more modest decline in Victoria.
"WA is the only state showing consistent gains in FHB approvals," Westpac notes.
The decline in first-home buyer finance approvals was mostly offset by an estimated 5% rise in the number of loans to 'upgraders',  with solid gains coming across the big eastern states in particular.
Investor activity softened, with the value of investor approvals falling 2.4% in December after strong gains in previous months.
December’s housing finance figures showed some encouraging signs for the residential building industry, but do not herald a recovery, according to Peter Jones, Master Builders Australia’s chief economist, who added that while there were positives in the figures for builders, the industry was not yet out of the woods.
“Looked at in isolation, today’s figure suggests interest rate cuts from the Reserve Bank may be beginning to gain traction, but any broad based recovery appears a way off.
“In the broader real estate market, the decline in first home buyers that continued in December is a concern given the various incentives across several states to entice them into the market.
“With consumers still reluctant to commit to large investments, the Reserve Bank should give urgent consideration to a rate cut at its March board meeting,” Jones said.
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First-home buyer absence a blessing for investors

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With Chinese New Year lunar festivals well underway, the early economic winners from the festivities include the Australian tourism industry, hotel and luxury retail sectors.
Eighty thousand Asian tourists were expected to fly in for the festival, mainly from China and Hong Kong, an increase of 50% on the monthly average – and they’re spending more money than ever before.
Tourism Australia spokesman Leo Seaton told SmartCompany foreign visitors are spending more every year.
“Total trip spend by visitors from China surpassed the $4 billion mark on a 12-month ending basis, up 16% for year ending September 2012.”
“This is at the back of a strong 33% growth in holiday spending,” he says.
Chief executive of the Retail Doctor Group, Brian Walker, told SmartCompany Australian retailers need to be more aware of the growing market.
“There’s no doubt the capital markets of Sydney and Australia are increasingly prime destination for Asian consumers, we see areas of Sydney and Melbourne that are predominantly Asiatic.
“Retailers should be aware of products for this target market and consider training staff in second languages,” he says.
According to Tourism Australia, the <a href="https://www.smartcompany.com.au/business-travel/053687-record-tourist-numbers-arrive-as-australia-aims-for-rivers-of-visitors-from-asia">number of tourists</a> arriving each year for the festival has increased steadily over the past few years in line with overall increases from Chinese visitors.
The Australian Bureau of Statistics reported the number of Chinese visitors to Australia grew by 16% in 2012 to 626,000 people.
Seaton says it’s too early to predict the precise impact the festival will have on the tourism industry, but it is expected to give a “significant boost”.
“The Chinese love Australia. The Chinese New Year Lunar Festival is acknowledged to be a big boost to tourism and a number of airlines have added additional flights for the period,” he says.
China Southern Airlines has been running extra flights from China to Cairns this year to meet the demand and in the past flights have also been increased to Adelaide and Uluru.
A spokesperson for the City of Sydney, Keeley Irvin, told SmartCompany luxury retailers are also benefiting from the boom.
“Based on anecdotal feedback at this stage, luxury retailers are doing well. These tourists have a fair bit of money to burn and as part of tradition, people buy new clothes as part of the celebrations,” she said. 
President of the Haymarket Chamber of Commerce, Brad Chan, says the weekend saw more visitors of both Australian and Chinese descent to the popular Sydney CBD precinct.
“Generally speaking the weekend just past has been busy for the Haymarket area. Australians like to venture into town to celebrate with their families and enjoy the festivities and the Asian tourists, even though they’re on holiday, like the familiarity.
“Most of the restaurants have stayed quite full, but retail in general is also doing quite well,” he says.
Chan says he expects the area will remain busy for the next few weeks and there has been steady growth in attendance at the celebrations over the past decade.
“Over the past five to 10 years we’ve seen a steady improvement in the Chinese New Year celebrations in Sydney and this has been partly driven by the City of Sydney who have invested a lot of time and money in these celebrations,” he says.
Hotel company Accor – which owns hotels such as the Novotel, Quay West, Ibis and the Sofitel – has seen significant growth of nearly 20% in the number of Chinese guests staying at their hotel in the past year.
Accor expected significant numbers of Chinese visitors to continue to stay with them over the festival period. The company has been developing a strategy to better cater to Australia’s growing number of Asian tourists.
Accor now has welcome kits in Mandarin, as well as Chinese newspapers, television channels and electrical adaptors. They also train their staff in cultural differences.
The number of <a target="_blank" href="https://www.propertyobserver.com.au/trends/chinese-signal-property-buying-intentions-in-australia-as-permanent-arrivals-numbers-rise-and-visitor-numbers-jump-dramatically/2013020659187?utm_source=po&amp;utm_medium=aida&amp;utm_campaign=news" rel="nofollow">Chinese visitors to Australia</a> has tripled in the past decade. China is now the fastest growing tourism market of visitors in Australia and the second largest overall.
 
This article originally appeared on<a target="_blank" href="https://www.smartcompany.com.au/index.php"> SmartCompany.</a>
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yredrup-o4Anfe78KF

Australian hotel and retail sectors benefit from Chinese New Year celebrations 

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Chocolate café chain Chocolateria San Churro will open its first store in the Adelaide CBD after leasing space on Rundle Street.
The Spanish themed chocolate chain has leased a 203 square metre café space at shop 5, 300 Rundle Street over seven years in a deal negotiated by CBRE’s Julia Pottenger.
While the price per square metre being paid by Chocolateria San Churro has not been disclosed, Property Observer understands that it will be around the going rate for rental space on the prime retail strip.
Annual rents on Rundle Street range from $400 to $1,200 per square metre.
Savills reported a <a href="https://www.propertyobserver.com.au/retail/darrell-lea-among-store-closures-as-adelaides-rundle-mall-vacancy-rate-hits-double-figures-savills/2012110557560/Page-2" target="_blank">vacancy rate of just 2.88% on Rundle Street </a>in November last year.
Rundle Street is the non-pedestrianised portion of the retail strip extending east from Rundle Mall.
They are far dearer in Rundle Mall, the super-premium retail location in Adelaide, with CBRE reporting rents remained stable in the final quarter of 2012 and ranged from $2,400 per square metres to $4,000 per square metre.
Originating in Melbourne in 2006, the chain is known for its range of decadent chocolate products including its famous Spanish churros.
Pottenger says demand for Rundle Street remains strong with Yvonne’s Yiros Café recently opening next door to the new San Churro café. The street has also seen the return of Mimco who have taken the former Mary Martin Book Shop tenancy.
“San Churro will be a great addition to Rundle Street and will thrive especially as they are due to open before the ‘Mad March’ season,” she says.
In contrast, CBRE reports that demand for space on Rundle Mall has been reasonably subdued in the December quarter.
“Property along Rundle Mall is traditionally tightly held by private investors and therefore rarely come to the market.
“There have therefore been no sales recorded in Rundle Mall during 2012 and no properties listed for sale in the precinct.
“Yields have remained stable in the December quarter and ranged from 6.75% to 7.25% for super prime and 7.25% to 7.75% for prime space,” says CBRE.
A new mall – Rundle Place - is currently under construction due to be completed in March 2013. It has been reported that the centre is 95% leased with three international retailers to open stores in the development to be anchored by Harris Scarfe.
CBRE warns of an increase in the retail vacancy rate the Adelaide CBD during the first half of 2013.
“There are two reasons for this. Firstly that there are currently several sites which are being marketed for lease, but are still occupied by the current tenant and they are likely to vacate in the first half of 2013.
“Secondly there are several tenants which currently occupy space on Rundle Mall which will move to the new accommodation in the Rundle Place development when it is completed in March 2013.
“This is likely to result in very limited growth in rentals in the CBD and depending on how much vacancy eventuates and there will be a increase in the incentives landlords will need to offer to attract a tenant,” says CBRE
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lschlesinger-FZcF9M3vE6

Spanish-themed Chocolateria San Churro to open first Adelaide CBD store on Rundle Street.

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With personal finances left looking fragile after the annual Christmas spending splurge, I thought it best to offer a list of simple strategies that can help Australians improve their financial fitness in 2013. 
If done properly, this includes assessing all aspects of personal finances, including strategies to boost retirement investments, such as including property and super, savings, a review of insurance policies, staying ahead of tax obligations and making an effort to improve financial literacy as more and more Australians take more control of planning their financial future.
1. Maximise the potential of any investment properties. Renovations to an existing property can reap huge rewards in the long run, with even the addition of air-conditioning dramatically increasing a property’s yield in terms of the amount you are able to receive in rent. Also, holding an investment property within a self-managed super fund trust is one of the most tax-efficient ways of managing these types of assets.
2. Ensure your property agents cover all property investment expenses (excluding interest). After all, you are paying them. This will greatly reduce your accountant’s costs and reduce your administration, as the agent will give you monthly and annual statements showing all income and expenses and will attach relevant invoices to each statement for your compliance needs.
3. Ensure loans are properly structured. Interest rates are near all-time lows, so while this is not great for savers, it is terrific for borrowers, who should ensure that their loans are properly structured and rates are in line with the competitive market rate. Many borrowers have not been given access to what is called the professional discount, although most are eligible. This potential  0.7% rate decrease applied to pay down a loan reduces the average loan by over $2,300 per year which equates to an overall saving of over $104,000 and reduces the term by nearly 6.5 years. The use of honeymoon credit card rates can also be very beneficial to enhance the faster payment of credit card debt while not increasing actual cash requirements.
4. Be aware of tax deductions. The use of a specialist property accountant will be able to show you all the legal tax deductions available to you, including the proper set-up of loans and the use of trusts for the astute property investor. Many investors forget to claim depreciation, which is a non-cash expense relating to the wear and tear of the building and fixtures and fittings. When doing a renovation, you should also prepare a scrapping schedule, which puts a value on everything you rip out and throw away. The taxman will pay you for your junk via an expense in the year of renovation and then allow depreciation on the new work. Remember depreciation and scrapping schedules must be prepared by a qualified quantity surveyor.
5. Ensure your will and enduring power of attorney are up to date. We have all heard of the horror stories of the wrong people getting your assets or, even worse, the government. Wills are a way to protect family wealth, and the common will, where assets are bequeathed to your children or surviving spouse, can have dire consequences if the receiver becomes bankrupt, has a family dispute, or has other medical issues. For many, a better alternative is required and therefore a different type of will is needed. This is normally referred to as a testamentary will. In this scenario, your will makes provision for your assets (such as property) to go to a trust set up after your death and you have your loved ones in control of the trust. This protects the assets from divorce, bankruptcy and taxes minors at adult tax rates and not the dreaded 66% on income generated from a normal death distribution. An enduring power of attorney (EPOA) is also recommended as the will does not take effect until death. If in a coma, access to bank accounts or the ability to sell assets for your medical treatment may be delayed or stopped without the EPOA. Remember your will only looks after what you own in your name and does not cover your superannuation or trust assets. Other documentation is required for these.
6. Consolidate super. Many of us have held a number of super funds over our working lives. These various superannuation balances can be quickly identified by visiting <a href="https://www.findmysuper.com.au/">www.findmysuper.com.au</a>, then consolidating these funds within one appropriate fund will ensure that you have the maximum amount of capital working, while cutting out multiple administrative fees, reducing costs and increasing retirement benefits.
7. Have your life insurance in your superannuation. Life insurance in this day and age is a necessity. However, it must be purchased with after-tax dollars when held in your name, yet if life insurance is held in super, payment is tax-deductible, resulting in large savings. Payments can be funded either out of your super guarantee (9%), improving your weekly cashflow, or as an additional salary sacrifice, which is tax deductible.
8. Consider moving your super into pension stage. The trigger for this is your age, not whether you are working. It is understandable that for any number of reasons many of us are happy or need to continue working slightly longer than traditionally we would have in previous times. Many super trusts allow the option to trigger retirement in super while you are still working (a simple deed amendment will allow this if not currently available). The benefit of this strategy is that your super fund will no longer be taxed on income or capital gains from your pension balances. You will need to draw an annual pension, but this can be re-contributed if not needed. In your hands, the pension will not be taxed if you are over 60 and taxed at your marginal tax rates less 15% if you are between 55 and 60, greatly increasing cashflow.
9. Ensure tax returns are up to date. The ATO is increasingly clamping down on late tax returns, but tax office penalties should not be the only incentive to avoiding tardiness. Delaying your income tax returns can add additional costs and deprive you of funds if a refund is expected. Even if you are required to pay additional tax, it is recommended to start early and withhold lodgment until your due date. Working through a registered tax agent can allow you up until May 15 in the next year for lodgment.
10. Savings can be made by reviewing and consolidating existing insurance policies. Many Australians do not consider changing their existing insurance policies for a better deal, normally because they are concerned that they will need to undergo a new medical examination, which may impact costs or benefits of that policy. However, if you have undergone a medical in the past five years, in most cases there is no requirement to undergo another if there is no loading applicable and the same amounts are carried to a new insurer who in turn may be able to offer you a more competitive deal. There could also be benefits in having different policies with the one provider so as to source discounts.
11. Invest in your own financial education and literacy. There is an increasing amount of scrutiny on the financial services industry and the big super funds in terms of the value of their advice and returns in recent years. Many Australians are now opting for a more independent route in order to maximise their future financial wellbeing. A self-managed super fund may be the right option for you. Talk to a specialist SMSF adviser, who can not only discuss the normal areas such as insurance and investment plans but also understands the law and tax applicable to these funds. Many people are now using their SMSFs to purchase property with debt, but if poorly executed, this brings unintended penalties so work with a specialist to maximise your returns. Other useful sources of information include joining specialist associations such as the Australian SMSF Members Association, which is a voice for members and not driven for the benefit of the profession.
There is a lot of value in investing in improving financial literacy. Not knowing is like throwing money down the drain; as many of these steps show, simply altering the way existing finances are structured can dramatically increase your cashflow, giving you that added flexibility to generate more wealth, whether that be through property or other investments.
Ken Raiss is a certified accountant and director of <a title="Chan &amp; Naylor " href="https://www.chan-naylor.com.au/" target="_self">Chan &amp; Naylor</a> national accounting firm. Ken’s experience lies in working with large publically listed multi-national companies, which gives Ken excellent insight into international market trends. Ken specialises in educating “mum and dad” property investors and small business owners with advice on wealth creation, asset protection, taxation, superannuation and compliance.
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kenraiss-JsVyb3YKka

Maximise your investment properties and 10 other ways to improve your financial fitness in 2013: Ken Raiss

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The translation from English to Chinese is almost becoming a pre-requistite for significant property marketing campaigns.
And a simple flag that represents the nationality of the reader is the catchy way property sellers are presenting their offerings to an international audience.
The <a target="_blank" href="https://www.discoverypoint.com.au/summit.php?utm_source=Private%20Media%20AU&amp;utm_medium=300x600&amp;utm_term=6204922&amp;utm_content=12767542&amp;utm_campaign=Australand%20-%20Discovery%20Point_SCHAUS026_BRBLUE">latest Summit Discovery Point marketing campaign from Australand</a> has the easy translation available after pressing the Chinese flag located in the digital advertisement's lower right hand corner.
<img alt="discoverypoint" src="/images/stories/2013/02/discoverypoint.jpg" height="334" width="470">
Meriton has been a market leader in the arena.
Local estate agencies are also making the switch.
Fletchers, the Melbourne agency, has been an industry leader. Fletchers' site has 16 flagged buttons for its language translation.
In addition to the principal Chinese button, there is French, Japanese, Russian, Hebrew and Greek (pictured below).
<img alt="fletchers" src="/images/stories/2013/02/fletchers.jpg" height="617" width="470">
Last week the switch was done by Richardson &amp; Wrench Mosman.
"We did it due to the sudden influx of sale to mainland Chinese buyers," says Robert Simeon from the R&amp;W office.
The translation is via Google, which might not be the best translation tool.
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>Property Observer is also part of this trend, as 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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Pressing the right Chinese button for Australian real estate sales

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When I first arrived in Australia from a relatively small town in the UK, the high-rise developments that were starting to dominate the inner-CBD skyline provoked a sense of excitement. The thought of residing in one evoked pictures of sweeping views, a kind of modern-day luxury “hotel” with a concierge and rooftop gym. I was still coming to terms with the local real estate landscape, and my concept of what created an ideal ‘home’ for an Australian buyer was biased in the extreme.
I had numerous preconceived ideas formed by my experience of the UK housing market – one of which was the difficulty in adapting to the thought of living in a weatherboard house. To my UK “cold climate” brain, living in a house made of wood was a concept that should have died out with the war. I now deal with a proportion of property buyers who will only consider a weatherboard dwelling – no doubt tying it in with their own concept of what makes a “home” – usually envisioning an attractive Californian bungalow or single-fronted Victorian.
My first ‘real’ experience of high-rise accommodation didn’t disappoint. It was the Royal Domain development in Melbourne – one of the upmarket dwellings close to the top floor, and I was granted a private inspection. The apartment itself was fairly ordinary – had I walked through at ground level and been given the asking price, I’d have baulked at the offer. The fittings and fixtures were lacking in quality for the buying demographic it aimed to attract – not that you would have noticed, the main attraction was the view. I joked to the agent at the time that should I live there, I wouldn’t bother with a TV – I’d buy a good pair of binoculars instead. It promised to be far better entertainment.
The million-dollar-plus price tag was one thing, the owners’ corporation fees another. Some $18,000 a year – clearly to be expected, considering the block size and additional onsite features – but despite the agent spruiking the development’s “investment potential” it didn’t require real estate experience to assess it was about as good an “investment” as a retirement home.
The apartment above sat vacant – it had been purchased by an offshore businessman from China who only occupied it for events such as the grand final or Melbourne’s spring racing carinval. The market for this particular type of property was discretionary at best, and anything but consistent.
I’ve written numerous columns addressing the inadequacies of our high-rise culture in addressing the need for affordable accommodation. The reason I do so today is in response to a debate I had with the ACTU’s <a target="_blank" href="https://mattcowgill.wordpress.com/2013/02/06/housing-policy-its-all-connected/">Matt Cowgill</a>, who took up the challenge to express the broadly shared logic that increasing supply per se is the answer to a growing demand for affordable, well-located, accommodation.
Matt used different priced potatoes to demonstrate his well established economic theory of ‘supply vs demand”.
“There are three types of potatoes: kipfler, desiree and regular. Kipflers are expensive and not that common, whereas regular potatoes are cheap and plentiful. Desirees are somewhere in the middle.
“What would happen if some kind of bug struck the supply of kipflers, halving it overnight?”
Matt pondered, and in doing so, demonstrated that potato lovers would turn their demand to the closest equivalent – whether it be settling for a ‘regular’ type or moving from a ‘kipfler’ potato consumer to a ‘desiree’ potato consumer.
Needless to say, Matt’s theory is that property markets are connected and therefore fulfilling the needs of the “affluent” will reduce competition at the lower end of our market arena, making sure supply is readily available for the intended price demographic. In this particular discussion, we were using the abundance of new tower blocks in Melbourne as the proposed property type.
The theory when used with potatoes is sound – if I were shopping in my local supermarket and a certain brand of vegetable I needed for my evening meal were unavailable, I would settle for the next best thing – whether higher or lower priced – and make do. If a good supply were available I might choose a more expensive brand, thereby leaving a greater supply of the ‘regular’ type for those shopping with a lower budget. My choices, if consistent enough and mirrored for a long enough period of time by a large enough demographic of consumers, would evidently bear an effect on the price – the assumption is more supply equates to lower demand and a lower price.
Why doesn’t the theory hold with our current CBD high-rise supply of property? And more importantly, why are a large proportion of our towers sitting empty, with vacancy rates in the region of 8% to 10 % (SQM) and rents that hardly offer “affordable” value when compared with the established terrain?
Let me offer my own analogy: If a devastating tornado hit my local neighbourhood and I found myself without a roof over head I would also ‘make do’ – however, that’s not the reality of our buying market. Most home buyers work devilishly hard to save an initial deposit and therefore expect to see their somewhat pre-conceived idea of value represented in their purchase.
Whether you think a property buyer’s demands are unrealistic or not is irrelevant – we’re talking about a consumer market, not desperate homeless individuals who are prepared to bid on any old thing just because it fits into their budget. Therefore, if additional property is going to fulfil the needs of home buyers (or, for that matter, renters – assuming renters are also looking for a ‘home’), it needs to be done with that intention initially.
I’ve since inspected numerous high-rise/high-density developments, both in the CBD and the inner-and middle-ring suburbs where new apartment blocks are commonly five stories or more. Some are impressive in design – however, the majority are a huge disappointment. The quality of construction often shows “cracks”, and has clearly been developed to a strict “squeeze as many in as possible” budget.
 
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The reason I’ve walked through so many is because I deal with clients from all ranges of the property buying spectrum – covering budgets of $300,000 to more than $3 million and spanning a broad range of individual buyer types. The overwhelming conclusion remains that this type of property was not built with the home buyer in mind, and due to the lack of diversity in supply, fails to attract many local investors, either – a point I’ll expand upon below.
A proportion of buyers come to me with high rise (and a view) solidly envisioned, however even if they have a discretionary budget to allow a purchase in one of the better-quality developments, once presented with the alternatives their finance will allow – such as a period terrace or townhouse – along with an assessment of the fees and drawbacks high-density apartment living necessitates, their initial preference pales in comparison.
Obviously, most local home buyers prefer houses to apartments – and for the high-rise price tag of a two-bedroom apartment, there’s far more bang for buck in established accommodation that doesn’t come with the additional risks of the view being built out, a queue to get out the car park during peak-hour traffic, the extortionate owners’ corporation fees and 150 immediate neighbours, the majority of whom are renters.
For lower-budget buyers, our older established apartments seem to have been built with the home buyer in mind and are therefore more attractive – usually offering larger floor plans in smaller block sizes. Therefore when home buyer apartment shopping does occur, this is the type of accommodation that’s generally preferenced. Home buyers can get better bang for their buck.
As for first-home buyers shopping with a budget in the $300,000s – let me quote from one such buyer who had a vision of her first home being in an inner-city high-rise or high-density development due to her desire to situate in the CBD.
“The latest trend in Melbourne is to build tiny New York-style apartments and then charge amazingly high prices for them. Most of the places advertised in or near the city for $350,000 or less are in student housing buildings and boast two small cupboards that might just accommodate a single bed each, and a slim hallway which doubles as a kitchen and living area... In this sub-$400,000 price range, a L-A-R-G-E two-bedroom apartment is considered to be 44.5 square metres, which would make an excellent studio apartment or a reasonable one-bedroom apartment.”
The author is now fully aware that $350,000 for the “new” (or even 10 year old) supply on offer is not value for money – yet a few suburbs out, in a different market all together, she can afford an established comparatively larger apartment with good proximity to shops and train station, with the substantial cash advantage of avoiding the high owner corporation fees that fund a swimming pool she’d have probably have been too busy to use. It just required a little guidance to open her eyes to established alternatives she is prepared to settle for.
If by chance she had found a high density ‘L-A-R-G-E’ apartment suited to her lifestyle, she may have come down with a bump when trying to acquire finance – it’s well known banks have strict lending criteria for first-home buyers trying to purchase small apartments in high-density accommodation. Each lender has its own restrictions relating to internal floor space, and most require a larger deposit to offset the risk.  Clearly the banks recognise high-density accommodation is not always easy to offload in a default situation.
Well, as I pointed out last week – individuals who can afford to invest in property are hardly leaving lower priced stock for the home buyers on a compromised budget. Because of our current negative gearing tax benefits – the best established property in our inner suburban market that does appeal to the first-home buyer demographic is a hotbed of investor demand, with over 90% opting to place their dollars in this sector. Investors understand, if they purchase properties home buyers also desire, the value of their property is likely to attract interest throughout all stages of the “property cycle” and therefore speculation is rife. First-home buyers are caught out at every inner-city hurdle – they face restrictions for new, and somewhat unequal ‘deepest pockets wins’ competition for established.
So who is benefiting from the abundance of new and proposed high-density developments? Well, the typical investor of new accommodation is the foreign demographic who face no restrictions when purchasing off the plan. In China – unlike Australia – older developments are poorly constructed and undesirable for home buyers; however the newer developments are highly.
Investors of these developments are seeking a good yield – however, a percentage of foreign investors also allow their property to sit vacant – once again it’s a cultural bias with the mindset of keeping the interior in ‘as-new’ condition for a future sale.
If someone can explain to me how building apartment blocks which are nether affordable or desirable for a large proportion of home buyers – and despite our tight rental market, contain a large proportion of units left to sit vacant – can bring down the cost of accommodation. I’d be the first marching the streets in favour of the plan.
As it is, it seems they were never built for home buyers in the first place. A couple of years ago when the boom of Melbourne’s’ high-rise construction kicked in, the City of Melbourne’s website described the new developments as being “relatively small one- and two-bedroom apartments largely targeted at the student market and owned by investors.” So has high-rise combated affordability for a diverse property shopping demographic? No – because it was never built with the intention of doing so.  Our property market is no longer about home buyers – it’s a money-making wheel, with every Tom Dick and Harry hoping to make a buck in the process.
Catherine Cashmore is a market analyst with extensive experience in all aspects relating to property acquisition.
 
 
 
 
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Why high-rise accommodation will not solve our housing shortage

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Since the GFC, money has been flowing to bank deposits. That is, low-risk, low return options where the saver has an element of "government guarantee" and money is either on hand or has a fixed return for a fixed term.
The move to cash has been at the expense of investment in shares. The market capitalisation of Australian equities in June 2007 was $1.59 trillion, and by June 2012 it had fallen to $1.18 trillion.
Correspondingly, total term deposits with Australian banks equaled $196.2 billion in June 2007, rising to $533.5 billion in June 2012.
There are signs that the market is warming again to the share markets. Should you join this trend?
There are three considerations: your goals, your timeframe and your risk tolerance.
A goal – for instance, to save for retirement – will tell you how much you need to save and how much your savings must earn. Large goals need the compounding effect of high yields over the long term, whereas small goals don’t need so much planning.
Your timeframe also dictates where you put your money. Bank deposits are useful for short-term goals because they allow ready access and they are government guaranteed.
Shares favour the long term. They are a good investment for young savers or those in mid-life cycle because the performance of shares is best measured over a decade.
This is where appetite for risk comes in. Over the past decade, Australian shares returned 9.1%, compared with the performance of cash at 5.4%.
However, in any year – or any week – of the 10-year performance of shares, the value of what you own can fluctuate, sometimes wildly. So you need to weather the ups and downs over a long cycle in order to get your 9%.
If your retirement falls in a month where the share market takes a significant downturn, and you rely on shares, you’ll have to wait for a market correction.
This is not an either/or argument. Strong investment portfolios are diversified, and operate as a matrix in how they deal with goals, timeframes and risk appetite. This usually means they have a mix of cash, shares, property and bonds.
Younger people aiming for a large retirement nest egg should weight their investments towards equities and property, and those approaching retirement should favour having a paid-out property and a weighting to cash investments because they don’t have the time to reverse any losses on shares.
One of the warnings I would give to those who want to shut out all risk, is that economies change and so do opportunities. My team at YBR is currently concerned about the chance that long-term interest rates will rise over the next two years, caused by economic growth and a return to consumer confidence.
If this happens, how many conservative investors will have money locked away in fixed-rate bonds? They’ll be losing out while owners of shares, bank deposits and floating rate bonds enjoy higher interest rates as economies expand.
Mark Bouris is executive chairman of <a href="https://www.ybr.com.au/" target="_blank">Yellow Brick Road</a>, a financial services company offering home loans, financial planning, accounting and tax, and insurance.
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Why you should have property, shares and cash in your investment portfolio: Mark Bouris

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In its first significant deal under the new name of Federation Centres, the former Centro business, has agreed to sell half-shares in four malls and a convenience centre to the Industry Superannuation Property Trust (ISPT), one of Australia’s biggest unlisted property trusts.
The four sub-regional shopping centres are Mandurah in WA, Cranbourne and Karingal in Victoria and Warriewood in NSW. The convenience centre is Halls Head also located in Mandurah, WA.
The transaction with ISPT represents a 2.9% premium to the June 30 2012 book value (pre-transaction costs) and average yield of 7.49%.
The signing of the co-ownership agreement with ISPT, follows the deal in May last year for the privately-owned Perron Group to pay a post-GFC record of $690.4 million to acquire a 50% share in a portfolio of three Centro flagship regional shopping centres.
The three shopping centres in this deal were the Colonnades in South Australia, The Glen in Victoria and the Galleria in Western Australia in a deal brokered by Simon Rooney, Australian head of retail investments at Jones Lang Lasalle.
Commenting on the latest deal, Federation Centres managing director and CEO, Steven Sewell said the transaction with ISPT is part of the transformation of the business under the new name.
“When combined with the previous Perron Group strategic alliance, on completion of this transaction with ISPT, Federation Centres will have undertaken co-ownership in eight centres with a gross value of $2.1 billion.
“With more than $1 billion in capital raised from these co-ownership arrangements, we will be well positioned to grow our business through redevelopment projects across our portfolio of quality Australian shopping centres and further acquisitions of syndicate properties.
Federation Centres will continue to manage the shopping centres to be held with ISPT.
ISPT has over $8 billion of property assets.
Subject to the satisfaction of conditions, the transaction is expected to be completed on or before 31 July 2013. Proceeds from the sale, net of transaction costs, will initially be applied to reducing debt facilities.
Daryl Browning, CEO of ISPT said he was looking forward to working with Federation Centres to “explore future development opportunities for the co-owned shopping centres to enhance returns for our investors”.
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Federation Centres sells half-shares in four malls to ISPT for $371.4 million

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The housing market is responding to cash rate cuts which began in November 20011 says the RBA in its February statement on monetary policy released today.
While warning that near-term prospects for business investment outside the mining sector continue to be subdued, the RBA said there are “signs that the housing market is responding to the series of interest rate cuts over the past 15 months”.
“Since the middle of 2012, residential building approvals have increased, rental yields have moved higher and prices in the established housing market have picked up,” added the RBA.
The RBA notes other positive developments in the housing market.
“Overall, improving conditions in the housing market are expected to continue to provide support to dwelling investment, while non-mining business investment is forecast to pick up gradually over time.”
And it provides commentary on the improvement in capital city house and unit prices.
“Australian capital city dwelling prices have risen by 4% since their trough in mid-2012.
“Recent price rises have been relatively broad based, with all state capitals recording higher prices over the three months to January.
“Some other indicators also point to a strengthening in the established housing market. Auction clearance rates in Sydney and Melbourne have continued to rise from their lows in late 2011 and early 2012.
“Private sector surveys indicate that, on balance, households expect house prices to rise further over the year ahead. Housing loan approvals increased moderately over the second half of 2012, underpinned by loans to investors and repeat buyers, although they were little changed relative to the outstanding stock of housing credit," says the RBA.
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Housing market is responding to rate cuts with many other positive signs: RBA

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Andrew Hay, the London-based Knight Frank head of its global residential division, says his clientele base was typically cautious, but cashed-up and well researched.
He says they are looking investing where their money is safe and where they can get to enjoy.
'There is a lot of money sitting on the wall waiting.
"Buyers are very savvy. They are very price sensitive. And they quickly understand what's quality.
"However, they deliberate longer than they use to," he told Property Observer during a trip to Australia this week.
'The safe haven aspect is the overriding concern," he added. And educational needs drives a lot of initial inquiry.
<img alt="andrewhay" src="/images/stories/2013/02/andrewhay.jpg" width="470" height="311">
He suggests as price points come down globally, these buyers are waiting for when they perceive the market is bottoming out particularly the Asian market.
He's noticing a trend of families making multiple purchases in the same location.
Asked the necessary requirements to be in place to instill confidence for buyers, Hay suggests there are "so many confusing messages coming out of the media."
He suggests buyers are needing a bit of certainty.
"There is huge wealth in Asia from emerging economies. China is only beginning to scratch the surface. There is a vast market still to come from China.
"And the whole of the Arab world is in turmoil so huge funds are flowing into Dubai which is being directed towards Malaysia, Indonesia and beginning to look towards Australia."
He said his clientele are looking for legal systems they can trust and a currency they regard as stable.
Since 2007 Knight Frank has produced an authoritative <a href="https://www.knightfrank.com/wealthreport/" target="_blank">Wealth Report </a>that tracks 4000 people with a wealth collectively totalling more than €40 billion.
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