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“Minister Chanthivong and his team have shown real leadership in replacing an outdated two-year bond with cover that matches the lifespan of the buildings people are buying into.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

Joel Robinson

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

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

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

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

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

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

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

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

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

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

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

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

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

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

Every First Home Owner Grant for new property by state

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

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

Staff Writer

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

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

alisonwarters@gmail.com

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

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

Ellen Walker

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

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

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

<html><body>
Australia’s elder statesman of apartment development, Harry Triguboff, has no plans to retire as he prepares for his 50th year in the property market and says bricks and mortar remains the soundest form of investment.
The Meriton boss, who turns 80 next year, says he has dabbled in the stock market, but says it is very unpredictable.
“I still believe that bricks and mortar are the strongest investment,” he tells the inaugural edition of StrataCall magazine, an offshoot of the <a target="_blank" href="https://www.stratalive.com.au/">stratalive.com.au </a>website.
“Investing in property is simpler, safer and far more straightforward and logical."
Triguboff says now is “a perfect time" for first homeowners and investors to purchase property and describes the decision as “really a very easy equation’.
2013 is likely to be a busy year for Harry Tribugoff and Meriton following its <a href="https://www.propertyobserver.com.au/developments/debtless-meriton-halts-sydney-apartment-site-buying-spree-as-it-seeks-to-sell-700-older-apartments-harry-triguboff/2012110157564">acquisition of six sites across Sydney</a> this year at a combined cost in excess of $200 million.
The sites have the capacity for 2,000 apartments worth around $1.3 billion.
Meriton remains debt free, but Triguboff says this is not a good thing, though he sympathises with other developers who have struggled to manage their debts due to the economic downturn.
“Trying to grow too fast and carry huge debt is OK when the banks are not nervous; but once they start pulling in the purse strings, it takes very little for the whole deck of cards to come tumbling down,” he says.
Were Meriton to carry some debt, Triguboff says this would be a good sign that development approvals are going through, land is becoming available and Meriton is in a position to build.
“If you ever hear I am carrying debt, it will be very good news for the property market,” he says.
</body></html>

lschlesinger-FZcF9M3vE6

Stick to bricks and mortar: Harry Triguboff’s advice to investors as he prepares for a busy 50th year in property game

<html><body>
An 11.8% annual rise in rents and a 9.9% annual increase in occupancy costs has propelled the Perth CBD into the top 20 most expensive office rental markets in the world, according to the September quarter semi-annual global office report from CBRE.
Perth ranked 20th most expensive prime office market to rent space, with an average rent per square metre cost of $850 and total occupancy costs of $1,003.
Rents and occupancy costs in the Perth CBD have soared on the back of demand for office space from businesses with the ties to the mining investment boom.
The Property Council of Australia <a href="https://www.propertyobserver.com.au/office/perth-and-brisbane-dominate-record-demand-for-cbd-office-in-first-six-months-of-2012-property-council-report/2012080155827">recorded a vacancy rate of 4.2% in the Perth CBD</a> in July, down from 7.8% in July 2011, with the city managing a net absorption rate of 115,000 square metres over the first six months of the year – nearly half the national net absorption rate of 243,000 square metres.
Sydney remains Australia’s most expensive prime CBD office market, ranking 14th on the CBRE list, one position up from six months ago. Prime Sydney rents have hardly moved over the past year (up 0.8%) at $1,048 per square metre, while occupancy costs have risen by 1.3% to total average occupancy cost of $1,232 per square metre.
Brisbane ranked 30th on the global list, one up from its ranking at the end of March, with a total occupancy cost of $818, up 1.7%, with rents up 1.3%.
Melbourne ($637 per square metre total occupancy cost) does not feature in the top 50, with the list headed by Hong Kong followed by Central London’s West End, Tokyo, Beijing and New Dehli.
San Francisco, which ranked 26th most expensive office rental market in the world, experienced the largest year-over-year increase, at 36.4%, of the 133 markets monitored by CBRE, driven by its “hot technology sector”.
Top 50 Most Expensive Office Markets as of September 30, 2012
 
<table width="463" cellpadding="0" cellspacing="0" border="0"><tbody>
<tr>
<td nowrap width="47" valign="bottom">
Rank
</td>
<td nowrap width="287" valign="bottom">
Market
</td>
<td nowrap width="129" valign="bottom">
Occ. Cost (US$)
</td>
</tr>
<tr>
<td nowrap width="47" valign="bottom"></td>
<td nowrap width="287" valign="bottom"></td>
<td nowrap width="129" valign="bottom"></td>
</tr>
<tr>
<td nowrap width="47" valign="bottom">
1
</td>
<td nowrap width="287" valign="bottom">
Hong Kong (Central), Hong Kong
</td>
<td width="129" valign="bottom">
246.30
</td>
</tr>
<tr>
<td nowrap width="47" valign="bottom">
2
</td>
<td nowrap width="287" valign="bottom">
London - Central (West End), United Kingdom
</td>
<td width="129" valign="bottom">
219.81
</td>
</tr>
<tr>
<td nowrap width="47" valign="bottom">
3
</td>
<td nowrap width="287" valign="bottom">
Tokyo (Marunouchi Otemachi), Japan
</td>
<td width="129" valign="bottom">
197.27
</td>
</tr>
<tr>
<td nowrap width="47" valign="bottom">
4
</td>
<td nowrap width="287" valign="bottom">
Beijing (CBD), China
</td>
<td width="129" valign="bottom">
184.95
</td>
</tr>
<tr>
<td nowrap width="47" valign="bottom">
5
</td>
<td nowrap width="287" valign="bottom">
New Delhi (Connaught Place - CBD), India
</td>
<td width="129" valign="bottom">
183.30
</td>
</tr>
<tr>
<td nowrap width="47" valign="bottom">
6
</td>
<td nowrap width="287" valign="bottom">
Beijing (Finance Street), China
</td>
<td width="129" valign="bottom">
179.57
</td>
</tr>
<tr>
<td nowrap width="47" valign="bottom">
7
</td>
<td nowrap width="287" valign="bottom">
Hong Kong (West Kowloon), Hong Kong
</td>
<td width="129" valign="bottom">
174.13
</td>
</tr>
<tr>
<td nowrap width="47" valign="bottom">
8
</td>
<td nowrap width="287" valign="bottom">
Moscow, Russian Federation
</td>
<td width="129" valign="bottom">
172.82
</td>
</tr>
<tr>
<td nowrap width="47" valign="bottom">
9
</td>
<td nowrap width="287" valign="bottom">
London - Central (City), United Kingdom
</td>
<td width="129" valign="bottom">
131.76
</td>
</tr>
<tr>
<td nowrap width="47" valign="bottom">
10
</td>
<td nowrap width="287" valign="bottom">
São Paulo, Brazil
</td>
<td width="129" valign="bottom">
130.07
</td>
</tr>
<tr>
<td nowrap width="47" valign="bottom">
11
</td>
<td nowrap width="287" valign="bottom">
Mumbai (Bandra Kurla Complex), India
</td>
<td width="129" valign="bottom">
122.19
</td>
</tr>
<tr>
<td nowrap width="47" valign="bottom">
12
</td>
<td nowrap width="287" valign="bottom">
Rio de Janeiro, Brazil
</td>
<td width="129" valign="bottom">
121.40
</td>
</tr>
<tr>
<td nowrap width="47" valign="bottom">
13
</td>
<td nowrap width="287" valign="bottom">
Paris Ile-de-France, France
</td>
<td width="129" valign="bottom">
119.78
</td>
</tr>
<tr>
<td nowrap width="47" valign="bottom">
14
</td>
<td nowrap width="287" valign="bottom">
Sydney, Australia
</td>
<td width="129" valign="bottom">
119.04
</td>
</tr>
<tr>
<td nowrap width="47" valign="bottom">
15
</td>
<td nowrap width="287" valign="bottom">
Shanghai (Pudong), China
</td>
<td nowrap width="129" valign="bottom">
116.36
</td>
</tr>
<tr>
<td nowrap width="47" valign="bottom">
16
</td>
<td nowrap width="287" valign="bottom">
New York (Midtown Manhattan), U.S.
</td>
<td width="129" valign="bottom">
114.30
</td>
</tr>
<tr>
<td nowrap width="47" valign="bottom">
17
</td>
<td nowrap width="287" valign="bottom">
Shanghai (Puxi), China
</td>
<td width="129" valign="bottom">
108.25
</td>
</tr>
<tr>
<td nowrap width="47" valign="bottom">
18
</td>
<td nowrap width="287" valign="bottom">
Geneva, Switzerland
</td>
<td width="129" valign="bottom">
105.28
</td>
</tr>
<tr>
<td nowrap width="47" valign="bottom">
19
</td>
<td nowrap width="287" valign="bottom">
Singapore, Singapore
</td>
<td nowrap width="129" valign="bottom">
104.66
</td>
</tr>
<tr>
<td nowrap width="47" valign="bottom">
20
</td>
<td nowrap width="287" valign="bottom">
Perth, Australia
</td>
<td width="129" valign="bottom">
96.91
</td>
</tr>
<tr>
<td nowrap width="47" valign="bottom">
21
</td>
<td nowrap width="287" valign="bottom">
Caracas, Venezuela
</td>
<td width="129" valign="bottom">
95.68
</td>
</tr>
<tr>
<td nowrap width="47" valign="bottom">
22
</td>
<td nowrap width="287" valign="bottom">
Washington, DC (Downtown), U.S.
</td>
<td nowrap width="129" valign="bottom">
94.51
</td>
</tr>
<tr>
<td nowrap width="47" valign="bottom">
23
</td>
<td nowrap width="287" valign="bottom">
Dubai, United Arab Emirates
</td>
<td width="129" valign="bottom">
92.56
</td>
</tr>
<tr>
<td nowrap width="47" valign="bottom">
24
</td>
<td nowrap width="287" valign="bottom">
Seoul (CBD), South Korea
</td>
<td width="129" valign="bottom">
91.28
</td>
</tr>
<tr>
<td nowrap width="47" valign="bottom">
25
</td>
<td nowrap width="287" valign="bottom">
Mumbai (Nariman Point - CBD), India
</td>
<td width="129" valign="bottom">
90.80
</td>
</tr>
<tr>
<td nowrap width="47" valign="bottom">
26
</td>
<td nowrap width="287" valign="bottom">
San Francisco (Downtown), U.S.
</td>
<td width="129" valign="bottom">
90.00
</td>
</tr>
<tr>
<td nowrap width="47" valign="bottom">
27
</td>
<td nowrap width="287" valign="bottom">
Zurich, Switzerland
</td>
<td nowrap width="129" valign="bottom">
87.98
</td>
</tr>
<tr>
<td nowrap width="47" valign="bottom">
28
</td>
<td nowrap width="287" valign="bottom">
Boston (Downtown), U.S.
</td>
<td width="129" valign="bottom">
87.50
</td>
</tr>
<tr>
<td nowrap width="47" valign="bottom">
29
</td>
<td nowrap width="287" valign="bottom">
Istanbul, Turkey
</td>
<td width="129" valign="bottom">
82.78
</td>
</tr>
<tr>
<td nowrap width="47" valign="bottom">
30
</td>
<td nowrap width="287" valign="bottom">
Brisbane, Australia
</td>
<td width="129" valign="bottom">
79.04
</td>
</tr>
<tr>
<td nowrap width="47" valign="bottom">
31
</td>
<td nowrap width="287" valign="bottom">
Luxembourg City, Luxembourg
</td>
<td width="129" valign="bottom">
77.94
</td>
</tr>
<tr>
<td nowrap width="47" valign="bottom">
32
</td>
<td nowrap width="287" valign="bottom">
Los Angeles (Suburban), U.S.
</td>
<td width="129" valign="bottom">
76.84
</td>
</tr>
<tr>
<td nowrap width="47" valign="bottom">
33
</td>
<td nowrap width="287" valign="bottom">
Stockholm, Sweden
</td>
<td width="129" valign="bottom">
76.35
</td>
</tr>
<tr>
<td nowrap width="47" valign="bottom">
34
</td>
<td nowrap width="287" valign="bottom">
New York (Downtown Manhattan), U.S.
</td>
<td width="129" valign="bottom">
74.93
</td>
</tr>
<tr>
<td nowrap width="47" valign="bottom">
35
</td>
<td nowrap width="287" valign="bottom">
Seoul (Yeouido), South Korea
</td>
<td width="129" valign="bottom">
74.27
</td>
</tr>
<tr>
<td nowrap width="47" valign="bottom">
36
</td>
<td nowrap width="287" valign="bottom">
Milan, Italy
</td>
<td width="129" valign="bottom">
74.21
</td>
</tr>
<tr>
<td nowrap width="47" valign="bottom">
37
</td>
<td nowrap width="287" valign="bottom">
Guangzhou, China
</td>
<td nowrap width="129" valign="bottom">
72.88
</td>
</tr>
<tr>
<td nowrap width="47" valign="bottom">
38
</td>
<td nowrap width="287" valign="bottom">
Bogota, Colombia
</td>
<td width="129" valign="bottom">
70.76
</td>
</tr>
<tr>
<td nowrap width="47" valign="bottom">
39
</td>
<td nowrap width="287" valign="bottom">
Calgary (Downtown), Canada
</td>
<td width="129" valign="bottom">
70.59
</td>
</tr>
<tr>
<td nowrap width="47" valign="bottom">
40
</td>
<td nowrap width="287" valign="bottom">
Aberdeen, United Kingdom
</td>
<td nowrap width="129" valign="bottom">
70.20
</td>
</tr>
<tr>
<td nowrap width="47" valign="bottom">
41
</td>
<td nowrap width="287" valign="bottom">
Manchester, United Kingdom
</td>
<td width="129" valign="bottom">
69.80
</td>
</tr>
<tr>
<td nowrap width="47" valign="bottom">
42
</td>
<td nowrap width="287" valign="bottom">
Edinburgh, United Kingdom
</td>
<td width="129" valign="bottom">
69.02
</td>
</tr>
<tr>
<td nowrap width="47" valign="bottom">
43
</td>
<td nowrap width="287" valign="bottom">
Taipei, Taiwan
</td>
<td width="129" valign="bottom">
68.57
</td>
</tr>
<tr>
<td nowrap width="47" valign="bottom">
44
</td>
<td nowrap width="287" valign="bottom">
Birmingham, United Kingdom
</td>
<td nowrap width="129" valign="bottom">
68.36
</td>
</tr>
<tr>
<td nowrap width="47" valign="bottom">
45
</td>
<td nowrap width="287" valign="bottom">
Toronto (Downtown), Canada
</td>
<td width="129" valign="bottom">
68.00
</td>
</tr>
<tr>
<td nowrap width="47" valign="bottom">
46
</td>
<td nowrap width="287" valign="bottom">
Vancouver (Downtown), Canada
</td>
<td nowrap width="129" valign="bottom">
67.20
</td>
</tr>
<tr>
<td nowrap width="47" valign="bottom">
47
</td>
<td nowrap width="287" valign="bottom">
Frankfurt am Main, Germany
</td>
<td width="129" valign="bottom">
66.31
</td>
</tr>
<tr>
<td nowrap width="47" valign="bottom">
48
</td>
<td nowrap width="287" valign="bottom">
Bristol, United Kingdom
</td>
<td width="129" valign="bottom">
65.10
</td>
</tr>
<tr>
<td nowrap width="47" valign="bottom">
49
</td>
<td nowrap width="287" valign="bottom">
Oslo, Norway
</td>
<td width="129" valign="bottom">
64.91
</td>
</tr>
<tr>
<td nowrap width="47" valign="bottom">
50
</td>
<td nowrap width="287" valign="bottom">
Glasgow, United Kingdom
</td>
<td width="129" valign="bottom">
64.31
</td>
</tr>
</tbody></table>
Source: CBRE Global Research and Consulting

<hr class="system-pagebreak">
The latest semi-annual prime office occupancy costs survey reveals the dominance of the Asia-Pacific region in the top 10 most expensive business locations worldwide continued, led by Hong Kong-Central – the world’s most expensive market - and five other Asian markets.
Despite economic headwinds, occupancy costs increased by an average of 2.1% worldwide over the past year, led by the Americas, with a 5.2% annual increase and Asia-Pacific with a 2.6% increase. Europe, the Middle East and Africa continued to be hindered by economic recession in much of Europe and recorded a 0.4% decrease in prime occupancy costs. Prime office occupancy costs increased in 74 markets, decreased in 37 office markets and had no change in 22 markets.
“The global office market recovery cooled over the past year, hampered by the ongoing European debt crisis, a deceleration of growth in emerging markets and ubiquitous  uncertainty created by the ‘fiscal cliff’ in the US," says Dr Raymond Torto, CBRE’s global chief economist. “However, tight market conditions, strong demand for high quality space and low levels of new construction continue to drive up occupancy costs in many prime office markets across the globe.”
 CBRE tracks occupancy costs for prime office space in 133 markets around the globe.
Of the top 50 most expensive markets, 19 are in EMEA (Europe, Middle East and Africa), 18 are in Asia-Pacific and 13 in the Americas.
</body></html>

Perth CBD moves up to 20th most expensive market to rent office space in the world: CBRE

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Melbourne's median house price increased by a "relatively subdued" 0.5% for the first 10 months of 2012, according to Australian Property Monitors. 
"Melbourne’s housing market saw increased activity from first-home buyers and a lift in buyer activity in the prestige market," says APM. 
"Investors and first home buyer are set to remain relatively inactive as a consequence of Australia’s least competitive capital city rental market."
APM notes a "looming oversupply" of apartment stock coming on line and as a consequence forecasts high vacancy rates, stagnant rental growth and falling unit prices in the Victorian capital. 
 
"Melbourne house prices should increase by up to 3% in 2013."
This is below expectations for many other capital cities.
Click to enlarge
<a title="Click to enlarge" href="/images/stories/2012/12/apmdec131.gif" rel="shadowbox"><img src="/images/stories/2012/12/apmdec132.gif"></a>
 
Click to enlarge
<a title="Click to enlarge" href="/images/stories/2012/12/apmdec17.gif" rel="shadowbox"><img src="/images/stories/2012/12/apmdec17thumb.gif"></a>
<img src="/images/stories/2012/12/apmdec171.gif">
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cknowlton-QnEa6ntUYP

Melbourne house prices in 2013 - zero to 3% forecast range: APM

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Inspired by Gold Coast’s Palazzo Versace hotel – which recently sold for $68.5 million – Property Observer has compiled a round-the-world guide to fashion designer hotels. 
The trend first started in 2000 with the opening of Palazzo Versace and has now extended to Milan, Paris, Jamaica and London, to name a few destinations. 
Luxury fashion designers that have jumped on the fashion branded hotel hype include Armani, Oscar de le Renta, Bulgari, Moschino, Missoni and many more.
<a href="https://www.lebellechasse.com/" target="_blank">Hotel Bellechasse, Paris</a>
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/stories/2012/09/bellechasse.jpg">
Rooms in the luxury Hotel Bellechasse are all individually decorated by French fashion designer Christian Lacroix. Hotel Bellechasse offers stylish and arty accommodation in the chic and trendy seventh arrondissement.
 
<hr class="system-pagebreak">
 
 <a href="https://www.palazzoversace.com.au/" target="_blank">Palazzo Versace, Australia</a>
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/stories/2012/09/palazzoversace.jpg">
The luxury five-star accommodation was the world’s first fashion-branded hotel owned by Italian fashion company Versace. With picturesque waterfront settings, Italian furnishings and vaulted ceilings hand-detailed in gold, the Palazzo Versace has an ambiance of pure glamour.
 
<hr class="system-pagebreak">
<a href="https://dubai.armanihotels.com/" target="_blank">Armani Hotel Dubai</a>
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/stories/2012/09/armanidubai.jpg">
The Armani Hotel in Dubai is personally designed by Giorgio Armani and consists of 160 guest rooms. The luxury hotel promises a home away from home experience, with the hotel design an expression of Giorgio Armani’s passion for the sensual. Each element in the design plays a precise role, with Armani reluctant to leave a single detail to chance.
 
<hr class="system-pagebreak">
 
<a href="https://www.hotelmissoni.com/hotelmissoni-edinburgh" target="_blank">Hotel Missoni Edinburgh</a>
 
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/stories/2012/09/hotelmissoni.jpg">
Hotel Missoni Edinburgh is the only five-star luxury hotel on historic Royal Mile in the heart of the Scottish Capital. The 136 guest rooms and suites are owned by world-renowned Italian fashion house Missoni, which embraces the phrase “bold, passionate and fashionable.”
 
<hr class="system-pagebreak">
<a href="https://www.hotelmissoni.com/hotelmissoni-kuwait" target="_blank">Hotel Missoni Kuwait</a>
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/stories/2012/09/missonikuwait.jpg">
The Hotel Missoni in Kuwait encompasses 18 floors of Missoni’s iconic contemporary design, with colours of desert and sea, gold, sand, turquoise and mosaic.
 
<hr class="system-pagebreak">
 
<a href="https://www.bulgarihotels.com/en-us/milan/the-hotel/overview" target="_blank">Bulgari Milano, Milan</a>
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/stories/2012/09/bulgari.jpg">
Since 1884, Bulgari has been setting the pace for Italian style in jewellery, watches, accessories, fragrances, skincare and leather goods. Now branching into the trend of fashion hotels, Bulgari renovated the 18th-century Milanese Palazzo hotel in Milan. It includes a 4,000-square-metre private garden that is visible from the ample windows in the 58 rooms, offering guests serenity and relaxation in busy Milan.
 
<hr class="system-pagebreak">
<a href="https://www.bulgarihotels.com/en-us/shanghai/overview" target="_blank">Bulgari Hotel, Shanghai</a>
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/stories/2012/09/bulgari2.jpg">
Located in the riverside complex of historic Zhabel District, the Bulgari Hotel Shanghai is designed by world-class architecture design team Foster and Partners. The luxury hotel contrasts ancient and modern architectural themes, a reflection of the Suhe Creek surroundings. The Bulgari hotel in Shanghai is set to open in 2015.
 
<hr class="system-pagebreak">
 
<a href="https://milan.armanihotels.com/" target="_blank">Armani Hotel Milan</a>
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/stories/2012/09/armanimilan.jpg">
The Armani hotel in Milan consists of 95 guest rooms, and rack rates range from $576 to $1,292 a night. The five-star exclusive luxury hotel in Milan offers a “lifestyle manager” who will give you a call or send an e-mail to see if there’s anything he can do for you before you arrive.
 
<hr class="system-pagebreak">
 
<a href="https://www.bulgarihotels.com/en-us/bali/the-resort/overview" target="_blank">Bulgari Resort, Bali</a>
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/stories/2012/09/bulgaribali.jpg">
The Bulgari Resort in Bali is a mix of traditional Balinese forms and high Italian style. Located 150 metres over the sea, the luxury resort is the second from Bulgari hotels and resorts and offers views of the Indian Ocean.
 
<hr class="system-pagebreak">
 
<a href="https://www.hotelpetitmoulinparis.com/" target="_blank">Hotel du Petit Moulin, Paris</a>
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/stories/2012/09/hotelpetit.jpg">
The Hotel du Petit Moulin is another luxury hotel decorated by Christian Lacroix. Comprising of 17 guest rooms, the reception was once the oldest bakery in Paris, and the 1900 façade is a historic monument.
 
<hr class="system-pagebreak">
 
<a href="https://www.claridges.co.uk/" target="_blank">Claridge’s London</a>
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/stories/2012/09/claridges.jpg" width="470">
Claridge’s London is an iconic five-star hotel in Mayfair and was American fashion designer Diane Von Furstenberg’s first interior design project. The elegant hotel has long-standing connections with royalty and is sometimes referred to as an extension of Buckingham Palace.
 
<hr class="system-pagebreak">
 
<a href="https://www.icastelli.net/location-698-1-castello_di_montegridolfo_hotel_palazzo_viviani" target="_blank">Palazzo Viviani at Castello di Montegridolfo, Italy</a>
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/stories/2012/09/vivani.jpg" width="470">
Italian fashion designer and dressmaker Alberta Ferretti renovated a 13th-century castle into the Palazzo Viviani. Located in the hills of Emilia Romagna and close to Rimini, this luxury hotel is a mix between medieval charm and modern comfort.
 
<hr class="system-pagebreak">
 
<a href="https://uxua.com/" target="_blank">Uxua Casa, Brazil</a>
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/stories/2012/09/uxa.jpg" width="470">
The Uxua Casa is designed and owned by Diesel’s ex creative director, Wilbert Das. Made up of 10 individual guesthouses, the walls are made from mud and branches, nestled among tropical gardens and colourful buildings. Das wanted the interiors to be organic, rustic and sensual.
 
<hr class="system-pagebreak">
 
<a href="https://dubaipropertiesgroup.ae/en/properties/the-tiger-woods-dubai" target="_blank">Elie Saab Hotel at The Tiger Woods, Dubai</a>
<img src="https://www.urban.com.au/images/stories/2012/09/woods.png" width="470">
Lebanese fashion designer Elie Saab designed the luxury hotel that overlooks the world’s first Tiger Woods-designed golf course. The luxury boutique hotel includes 89 suites and 14 bungalows and showcases a 929-square-metre swimming pool.
 
<hr class="system-pagebreak">
 
<a href="https://www.schlosshotelberlin.com/" target="_blank">Schlosshotel im Grunewald</a>
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/stories/2012/12/schloss.jpg">
Set in the Grunewald gardens and built by Kaiser Wilhelm II, the 53-room hotel received a modern facelift by German fashion designer, artist and photographer Karl Lagerfield. The hotel includes Turkish baths and a Vivaldi restaurant surrounded by high, gold-painted ceilings.
</body></html>

ntrotman-Et3xWpamVh

As Palazzo Versace sells, check out 15 global flashy fashion-branded hotels

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The REIV has released its rental data for November, and it shows the vacancy rate for Victoria has increased from 1.9% to 2%, with Melbourne’s increasing from 1.9% to 2.2% and a mild tightening in regional Victoria from 2 to 1.8%.
While this is an improvement for those looking to rent a home, higher vacancy rates can reduce the returns for the tens of thousands who own and rent out investment properties.
There was a minor variation in the median rent charged for houses in Melbourne, with an increase of $10 per week to $380. The median rent for units was stable at $350 per week.
The level of vacancies in Melbourne is relatively even across the city. A vacancy rate of between 2 and 2.2% was found across the city. When compared with previous months there was a substantial tightening of the vacancy rate in the inner city, where it fell from 2.6% in October to 2.2%. This shows that the new apartments being purchased by investors are slowing being absorbed into the market.
In contrast the vacancy rate in the outer suburbs nearly doubled from 1.1% to 2%. This easing has not yet been apparent in rents being charged as they remained stable.
Within regional Victoria the vacancy rate tightened in Geelong from 2.8% to 2.1%, was stable in Ballarat at 1.5% and eased slightly in Bendigo from 0.7% to 1%.
The overall rental market is well balanced at the moment, and it is unlikely that there will be any substantial increases in overall rents charged while the vacancy rate remains between 2% and 3%.
Enzo Raimondo is CEO of the <a rel="nofollow" target="_blank" href="https://www.reiv.com.au/">Real Estate Institute of Victoria</a>.
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enzoraimond-7fvRFHPR52

Inner-Melbourne vacancy rate tightens substantially in November

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I’m expecting a more buoyant market in both Sydney and Brisbane in 2013, especially with the latest official interest rate cut taking rates to the historical low benchmark of 3%. This is the same interest rate as during the GFC, and many in the financial markets predict more to come next year.

Interest rates have a profound effect on property markets, although the impact of a collective 1.25-percentage-point cut in official rates this year has been tempered by the banks not passing them on in full.

As the holidays draw near, I suggest spending some of your spare time considering how you can leverage current market conditions to build wealth for the future. I feel we’re in the final stages of a buyers’ market and prices are only going to rise (not dramatically, but in a reasonable fashion) from here.

With home loan rates, especially fixed rates, in the low 5% bracket, you don’t need a sky-high yield to make your next investment property pretty much pay for itself. There’s also the opportunity to upgrade your home at a time when the higher up you go on the price scale, the better the savings.

It’s worth noting, however, that falling interest rates indicate a flat economy. Generally speaking, retail spending is down as more people focus on saving and reducing debt. Plus, we have a very high dollar and the global economic outlook is still of concern. Overall though, Australia is still strong.

If you’re worried about the economy, have a read of the latest monetary policy decision on the Reserve Bank’s website at <a href="https://www.rba.gov.au" target="_blank">www.rba.gov.au</a>. It should put your mind at ease as it clearly explains why the RBA is cutting rates – and it’s certainly not because the economy is falling into a hole!

If you’re personally in a good financial position with a secure job, then don’t let the economy hold you back from buying property. 

The latest RP Data-Rismark survey shows property values in Sydney and Brisbane are up 0.6% and 0.8% for September-November. Year-on-year, they’re up 1.3% and 0.3% respectively.
These are small gains, but they represent a change in the market. On a national level, capital city prices are still -5.6% off their historical peak in November 2010 but they’re up 2% from their historical low in May this year – indicating we’ve left the bottom of this particular property cycle.

During September-November, weekend clearance rates in Sydney remained above 60% for nine consecutive weeks. This is a significant development. After breaking down McGrath’s clearance rates for the last four Saturdays in Sydney, it becomes clear that the under-$750,000 market is still strongest, with our company averaging a 69% clearance rate in this bracket, followed by 65% for the $750,000 to $1.5 million sector.
 
<hr class="system-pagebreak">
 
Australia’s largest mortgage broker, AFG, reports November as the biggest month for new loans all year. In its latest report released this month, 7,831 new loans were sold in November – almost 1,000 more than in the first month of the spring selling season (September). For a long time now, people have been sitting on the sidelines watching what happens. I think more people are coming off the bench now as interest rates become too good to resist.

In NSW, 41% of new loans in November went to investors, and 33% in Queensland. Among today’s investors are many people using self-managed super funds to buy residential real estate. This has been a strong trend, particularly in Sydney, in 2012 and it will only continue as more people get comfortable with the relatively new idea of managing their own super.

Investors won’t have much competition from first home buyers in NSW and Queensland in 2013 following the abolition of government incentives. In November, AFG arranged 96 home loans for first timers in Queensland, compared with 265 in October. In NSW, AFG organised 219 home loans in September for first-home buyers but in October and November combined, this number dropped by more than half.

Looking ahead, there is no doubt the Brisbane property market is well positioned for a new cycle of growth. More than a quarter of Australia’s population growth over the next 25 years is expected to be in the region from <a target="_blank" href="/news">Noosa </a>to <a target="_blank" href="/news">Coolangatta</a>, which will push Brisbane ahead of Melbourne as the country’s second biggest city. If supply remains below demand, this sort of population growth will have a big impact on property prices.

Sydney remains the BHP of Australian real estate – the big blue-chip market that generally outperforms the rest, particularly in the recovery period of a national market cycle. In 2013, I’m predicting a 2 to 5% price rise in the under-$750,000 market and a 5 to 8% rise in the $750,000 to $1.5 million bracket. I also think rents will continue their northward march, probably by 4 to 5%.
John McGrath is CEO of <a target="_blank" href="https://www.mcgrath.com.au/">McGrath Estate Agents</a>.
This article originally appeared on <a target="_blank" href="https://blog.mcgrath.com.au/">John McGrath's blog.</a>
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jmcgrath-6XcGQCVx3d

The end of the buyers' market drawing near, with Australian property prices set to rise in 2013

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Strata office space in the Melbourne CBD is being acquired by small businesses as their business premises for as little as $95,000, according to property services group DTZ.
DTZ strata agents Craig Hembrow and Danny Clark has sold 12 strata offices in the last few weeks totalling $2.7 million, with sales occurring in buildings on Little Collins Street, Collins Street and Queen Street.
Buyers include professional businesses, consultancies and small businesses in the medical, accounting, financial or business support services.
“These transactions have considerably tightened the market in properties in the sub 200 square metre range, to the point that some buyers are giving up due to frustration over a lack of available market stock” says Clark.
“This is partly attributable to a convergence of buyer and vendor expectations”.
Popular buildings for strata office purchases include 343 Little Collins Street on the Elizabeth Street corner, the Art Deco Manchester Unity building at 220 Collins Street on the Swanston Street corner and the modern 2 Queen Street building on the Flinders Street corner.
According to DTZ, limited supply is available in the prime East End of the CBD which is generally attractive to medical, corporate consulting, and financial services businesses.
Recent sales include a 32-square-metre office at 343 Collins Street, which sold for $95,000 – a rate of $2,981 per square metre rising up to $376,000 for a 63-square-metre strata office at 2 Queen Street.
Strata office sales 
<div style="text-align: left;" align="center">
<table style="width: 470px;" border="0" cellspacing="0" cellpadding="0">
<thead><tr>
<td style="text-align: left;" width="180">
Address
</td>
<td style="text-align: left;" width="85">
Sale Price
</td>
<td style="text-align: left;" width="85">
Area (sq.m.)
</td>
<td style="text-align: left;" width="57">
Rate per m2
</td>
<td style="text-align: left;" width="221">
Sales Transaction
</td>
</tr></thead>
<tbody>
<tr>
<td style="text-align: left;" width="180" valign="top">
204/220 Collins Street
</td>
<td style="text-align: left;" width="85" valign="top">
$309,570
</td>
<td style="text-align: left;" width="85" valign="top">
60
</td>
<td style="text-align: left;" width="57" valign="top">
$5,159
</td>
<td style="text-align: left;" width="221" valign="top">
Investment returning 6.91% return
</td>
</tr>
<tr>
<td style="text-align: left;" width="180" valign="top">
303/343 Little Collins Street
</td>
<td style="text-align: left;" width="85" valign="top">
$110,000
</td>
<td style="text-align: left;" width="85" valign="top">
35
</td>
<td style="text-align: left;" width="57" valign="top">
$3,142
</td>
<td style="text-align: left;" width="221" valign="top">
Vacant possession
</td>
</tr>
<tr>
<td style="text-align: left;" width="180" valign="top">
408/343 Little Collins Street
</td>
<td style="text-align: left;" width="85" valign="top">
$125,000
</td>
<td style="text-align: left;" width="85" valign="top">
39
</td>
<td style="text-align: left;" width="57" valign="top">
$3,205
</td>
<td style="text-align: left;" width="221" valign="top">
Vacant possession
</td>
</tr>
<tr>
<td style="text-align: left;" width="180" valign="top">
409/343 Little Collins Street
</td>
<td style="text-align: left;" width="85" valign="top">
$126,000
</td>
<td style="text-align: left;" width="85" valign="top">
39
</td>
<td style="text-align: left;" width="57" valign="top">
$3,230
</td>
<td style="text-align: left;" width="221" valign="top">
Vacant possession
</td>
</tr>
<tr>
<td style="text-align: left;" width="180" valign="top">
702/343 Little Collins Street
</td>
<td style="text-align: left;" width="85" valign="top">
$95,400
</td>
<td style="text-align: left;" width="85" valign="top">
32
</td>
<td style="text-align: left;" width="57" valign="top">
$2,981
</td>
<td style="text-align: left;" width="221" valign="top">
Vacant possession
</td>
</tr>
<tr>
<td style="text-align: left;" width="180" valign="top">
709/343 Little Collins Street
</td>
<td style="text-align: left;" width="85" valign="top">
$285,000
</td>
<td style="text-align: left;" width="85" valign="top">
82
</td>
<td style="text-align: left;" width="57" valign="top">
$3,476
</td>
<td style="text-align: left;" width="221" valign="top">
Vacant possession
</td>
</tr>
<tr>
<td style="text-align: left;" width="180" valign="top">
207/2 Queen Street
</td>
<td style="text-align: left;" width="85" valign="top">
$376,000
</td>
<td style="text-align: left;" width="85" valign="top">
63
</td>
<td style="text-align: left;" width="57" valign="top">
$5,968
</td>
<td style="text-align: left;" width="221" valign="top">
Investment returning 7.71%
</td>
</tr>
<tr>
<td style="text-align: left;" width="180" valign="top">
1111/227 Collins Street
</td>
<td style="text-align: left;" width="85" valign="top">
$230,000
</td>
<td style="text-align: left;" width="85" valign="top">
46
</td>
<td style="text-align: left;" width="57" valign="top">
$5,000
</td>
<td style="text-align: left;" width="221" valign="top">
Vacant possession
</td>
</tr>
<tr>
<td style="text-align: left;" width="180" valign="top">
208/430 Little Collins Street
</td>
<td style="text-align: left;" width="85" valign="top">
$255,000
</td>
<td style="text-align: left;" width="85" valign="top">
39
</td>
<td style="text-align: left;" width="57" valign="top">
$6,538
</td>
<td style="text-align: left;" width="221" valign="top">
Vacant possession
</td>
</tr>
<tr>
<td style="text-align: left;" width="180" valign="top">
405/220 Collins Street
</td>
<td style="text-align: left;" width="85" valign="top">
$275,000
</td>
<td style="text-align: left;" width="85" valign="top">
27
</td>
<td style="text-align: left;" width="57" valign="top">
$10,185
</td>
<td style="text-align: left;" width="221" valign="top">
Vacant possession
</td>
</tr>
<tr>
<td style="text-align: left;" width="180" valign="top">
101/2 Queen Street
</td>
<td style="text-align: left;" width="85" valign="top">
$303,000
</td>
<td style="text-align: left;" width="85" valign="top">
49
</td>
<td style="text-align: left;" width="57" valign="top">
$6,183
</td>
<td style="text-align: left;" width="221" valign="top">
Vacant possession
</td>
</tr>
<tr>
<td style="text-align: left;" width="180" valign="top">
102/2 Queen Street
</td>
<td style="text-align: left;" width="85" valign="top">
$217,000
</td>
<td style="text-align: left;" width="85" valign="top">
35
</td>
<td style="text-align: left;" width="57" valign="top">
$6,200
</td>
<td style="text-align: left;" width="221" valign="top">
Vacant possession
</td>
</tr>
</tbody>
</table>
</div>
 Source: DTZ
In August, Savills research confirmed private investors were the most active purchaser category in the strata office market in the prior 12 months, having purchased 42 properties worth a total of more than $26 million.
The recent Urbis Melbourne strata office market report calculated that there are some 1,800 strata units within the Melbourne CBD, with an average sales turnover approaching 130 units per annum – this represents 7% per cent of total stock.
The report notes that prior to 2000, the market was characterised by the creation of strata units from the conversion of older, conventional office buildings, with few purpose built facilities.
However, since 2000, some 500 strata units have been supplied, all in purpose built facilities, with most in the Docklands precinct.
These include Aquavista at 401 Docklands Drive, Docklands (205 units, built 2007) and Site One at 757 Bourke Street, Docklands (53 office units, built 2007).
Strata developments currently under construction include Lifestyle Working Collins Street, at 838 Collins Street featuring 137 units and 35 Exhibition Street, featuring approximately 40 units, both of which are due for completion in 2013.
According to the Urbis report, yields for prime strata office suites are currently in the range of 6.5% to 7%, with secondary yields generally in the range of 7.0% to 8.0%, on net rents.
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Small business snapping up Melbourne CBD strata offices for as little as $95,000: DTZ

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Pessimism about the job market is on the rise and could further curtail already cautious borrowers taking on more debt in 2013, forcing the RBA to cut interest rates even further, according to Westpac.
All the unemployment indicators from the December Westpac-Melbourne Institute survey of consumer sentiment point to a rise in the unemployment rate next year, with the likes of AMP Capital chief economist Shane Oliver tipping the unemployment rate to reach 6% in 2013.
Oliver is tipping the cash rate to fall to 2.5% in 2013 and says it could go even lower if sectors like housing, tourism and retail take longer to recover and take up the slack created by an expected slowdown in mining investment.
Employment is crucial to the housing market in both a practical sense – borrowers need income to pay off their mortgages – and in terms of feeling confident about taking on more debt to renovate, upgrade and in some cases, purchase an investment property.
However, despite the official unemployment rate falling from 5.4% to 5.2% and the RBA cutting the cash rate by 25 basis point to 3% in the week when the December consumer sentiment survey was carried out, job market expectations deteriorated.
<img src="/images/stories/2012/12/westpacdec14.gif">
As the graph below shows, survey respondents in full-time work (of which many would have mortgages or may be looking to buy) are more pessimistic about the jobs market than those unemployed, retired or not working.
<img src="/images/stories/2012/12/westpacdec141.gif">
Furthermore, as the graph below shows, sentiment about unemployment is similar across all household types – renters, mortgage holders and those who own their property outright.
<img src="/images/stories/2012/12/westpacdec142.gif">
Sentiment about the jobs market is weakest in the resource states of Queensland and WA due to expectations of a slowdown in mining-related projects and most bullish in NSW.
<img src="/images/stories/2012/12/westpacdec143.gif">
“Despite another rate cut and improving sentiment towards housing, consumers remain cautious and particularly concerned around the outlook for the economy and for employment,” says Westpac chief economist Bill Evans.
“The Reserve Bank has two more months to assess the impact of its interest rate moves before its next meeting (the RBA does not meet in January).
“Evidence to date is that low rates are not generating much traction with households. Hence there is likely to be a decision to further ease rates in February or March,” he says.
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Households growing concern about job market point to further rate cuts: Westpac

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Sydney's median house price grew 1.5% in the 10 months to October, according to Australian Property Monitors.
"Sydney’s low and mid-price range housing markets will continue to attract solid buyer activity through 2013, particularly in the inner west, Canterbury-Bankstown and Hills suburban areas," says APM. 
Click to enlarge
<a rel="shadowbox" href="/images/stories/2012/12/apmdec14.gif" title="Click to enlarge"><img src="/images/stories/2012/12/apmdec14thumb.gif"></a>
<img src="/images/stories/2012/12/apmdec141.gif">
Source: APM
 
 
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'Reasonable momentum' for Sydney's housing market in 2012: APM

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Melbourne had the highest gross value of unit sales in 2012, according to RP Data.
The mining boom town of South Hedland showed the highest increase in median unit values in the past five year. 
Click to enlarge
<a rel="shadowbox" href="/images/stories/2012/12/rpdec133.gif" title="Click to enlarge"><img src="/images/stories/2012/12/rpdec133thumb.gif"></a>
Source: <a target="_blank" href="https://www.myrp.com.au/">RP Data</a>
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