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“Minister Chanthivong and his team have shown real leadership in replacing an outdated two-year bond with cover that matches the lifespan of the buildings people are buying into.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

Joel Robinson

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

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

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

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

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

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

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

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

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

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

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

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

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

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

Every First Home Owner Grant for new property by state

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

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

Staff Writer

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

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

alisonwarters@gmail.com

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

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

Ellen Walker

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

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

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

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Clothing and footwear repairers are expected to record a surge in demand over the five years through 2012-13, with industry sales rising by an annualised 5.4%.
Unlike traditional retail trade services, demand for clothing and footwear repairs has been driven by a lack of consumer confidence and a softer retail market across the domestic economy as a result of the financial crisis of 2008.
Mounting uncertainty about the stability of domestic markets and household finances led to a shift in consumer trends towards greater usage of clothing and footwear repair services. Industry demand over the past five years has also been driven by the growing popularity of up-cycling, whereby old clothing garments are transformed into new items. Trading conditions across the clothing and footwear repair industry were also influenced by trends in disposable income, interest rates and population growth.
Industry sales are set to rise by 5% to $540 million over 2012-13. Demand for clothing and footwear repair services will benefit from the reputation operators have established with consumers over the past five years.
Sales will also be aided by a projected rise in interest rates, which will lead consumers to make greater use of repair services as opposed to buying new products. Demand is also likely to be driven by the growing popularity of up-cycling clothes to turn older items into new garments.
<img width="470" src="/images/stories/2012/11/ibisnov291.jpg">
Clothing and footwear repairers are projected to post steady growth over the next five years, with sales rising from $553.5 million in 2013-14 to $624.1 million by 2017-18, or by an annualised 2.9%.
<img width="470" src="/images/stories/2012/11/ibisnov292.jpg">
Demand for the industry's services is expected to be largely driven by the downturn in consumer sentiment over this period. Sales growth for clothing and footwear repairers will also be fuelled by rising interest rates and volatility in disposable income levels.
 
<hr class="system-pagebreak">
 
<img width="470" src="/images/stories/2012/11/ibisnov293.jpg">
The range of services offered by the industry may be broadly segmented into clothing repair and footwear repair. Based on IBISWorld estimates, footwear repair is regarded as the larger of these two segments.
However, the clothing repair segment has grown significantly over the past five years. This has primarily stemmed from the overall trading landscape across the domestic economy following the downturn from the global financial crisis and the shift in consumer spending patterns and attitudes towards repairing footwear and clothing.
<h3>Major players</h3>
There are no major players in this industry.
<h3>Industry outlook</h3>
Consumer demand for clothing and footwear repairs is expected to remain strong over the five years through 2017-18, with industry sales projected to rise by an annualised 2.9%. It is anticipated that demand will be driven by the solid reputation established between operator and customer during the previous five years.
Factors such as quality workmanship or craftsmanship, timely completion of repairs and specialised service are expected to fuel the continued use of clothing and footwear repair services during this period. The trading landscape for industry operators is also projected to be driven by trends in disposable income, consumer sentiment, interest rates and population growth rates.
To purchase IBISWorld’s full, 32-page report on the footwear repair industry, <a href="https://www.ibisworld.com.au/" rel="nofollow">click here</a>.
This article originally appeared on <a target="_blank" href="https://www.smartcompany.com.au/index.php">SmartCompany</a>.
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Best foot forward for shoe repairers as demand surges

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Stockland has confirmed the appointment of UBS investment banker Mark Steinert as the property developer's next managing director and CEO, replacing Matthew Quinn.
<img src="/images/stories/2012/11/markstockland.jpg">
The appointment was made by Stockland chairman Graham Bradley, who said it was a unanimous board decision.
Steinert had beeen tipped as new CEO by The Australian's Bridget Carter just over a week ago.
Steinert will join Stockland on January 14, succeeding Quinn, who has been managing director since 2000.
Quinn will remain in his position until January 11 "and will provide counsel and support as requested for three months from his end date to ensure a smooth transition to new leadership".
“The Stockland board is delighted to welcome Mark as our new managing director and CEO. Mark has a track record of successfully managing large business operations, an extensive background in the property sector and a strong reputation among property investors," says Bradley.
“Mark has a track record of successfully managing large business operations, an extensive background in the property sector and a strong reputation among property investors," says Bradley. 
Steinert says he is “honoured and excited to take up this opportunity to lead a truly great Australian company”.

He will be only Stockland’s fourth managing director.


Steinert’s appointment was also supported by Quinn, who said the incoming managing director had the "right qualities to drive the company’s long-term success".


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Stockland confirms UBS banker Mark Steinert as new managing director

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In other words, what is the potential for future capital gains and growth in rental yields in the location of your investments?
The answer to this straightforward question may guide your decision whether to hold on to the properties and whether or not to buy another in the same suburb.
Bernie Mitchell of Focus Property Management suggests that you first look at the levels of stock for sale and rent in your area. And also try to ascertain how long properties tend to be on the market before being sold. This can provide a vital key to the possible future capital gains and growth in rental yields.
“Say about 100 properties a year are sold in a suburb, and there are 300 properties on the market,” Mitchell says. “Basically, there is three years’ of sales stock on the market now.” [Of course, unsold stock levels can vary significantly with the state of the overall property market.]
The same principle applies with the stock of properties to rent. If a suburb has a large stock of properties to rent – in other words, a high vacancy rate – it will be tougher to earn your desired rental yield.
Investors can do much of the basic research into the numbers of properties for sale and rent by searching real estate websites and by speaking to local real estate agents as well as buyer’s agents.
Signs of a strong area for property investments can include solid population growth and improving infrastructure such as the building or planned building of motorways. Quality of public transport can be a valuable indicator.
Mitchell warns, however, that strong population growth in, say, a regional area can be for a specific reason that may not lead to long-term benefits for your property investments. So do your homework.
 
For more questions to ask as to how your residential property portfolio is performing, <a target="_blank" href="http://propertyobserver.com.au/ebooks/free-ebook-how-is-your-residential-property-portfolio-performing">download our free eBook.</a>
To find out <a target="_blank" href="/news">where residential property should sit within your portfolio, watch our free webinar </a>
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How do I 'measure the temperature' of where my investment properties are located? Wealth-creation webinar postscript

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Capital city hotels will continue to appeal to both local and offshore institutional investors due to rising demand from both overseas Asian visitors and more Australians choosing to travel locally, according to the latest hotel outlook report from Deloitte Access Economics.
However, much of the strong pick-up in domestic travel is business related, with a negligible rise in the number of Australian travelling domestically for holidays over the past 12 months, meaning regional hotels and coastal resorts are set to continue to struggle.
According to Deloitte, nationwide occupancy rates reached 65.9% in the year to June 2012, up from 64.8% over the year prior, but occupancy rates are much higher for capital city hotel markets, where many overseas buyers have made acquisitions and launched new developments.
The research firm forecasts that growth in the average room rate of 3.7% per year will underpin average annual revenue per available room growth of 4.3% over the next three years.
Perth has strongest outlook and represents very strong demographics for investors with a current occupancy rate of 86% for the year to June 2012, suggesting very little spare capacity, especially during the week when business travel is at its peak.
Click to enlarge
<a href="/images/stories/2012/11/deloittenov29.gif" rel="shadowbox" title="Click to enlarge"><img src="/images/stories/2012/11/deloittenov29thumb.gif"></a>
 
<hr class="system-pagebreak">
 
The opening of the 236-room Fraser Suites (pictured below) in October will help ease capacity constraints, and Deloitte forecasts occupancy rates to rise to 88.2% in the year to June 2015.
<img src="/images/stories/2012/11/fraserssuites1.jpg" width="470">
Mining-related construction activity, set to peak in 2014, will place added pressure on Perth room rates, which are forecast to increase by 10.3% per annum over the next three years.
Yields are forecast to grow by 11.3% per annum over the same period, rising from $165 in the year to June 2012 to $257 in the year to June 2015.
Sydney occupancy rates are forecast to rise from 85.4% currently to 87.7% in the year to June 2015, with revenue per available room (RevPAR) expected to grow by 4.5% over the next three years from $162 for the year to June 2012 to $185 for the year to June 2015.
Melbourne’s occupancy rate is expected to rise from 80.5% currently to 85.5%, with RevPAR forecast to grow by 6.2% per annum over the next three years, while Brisbane occupancy rates are forecast reach 81.9% by June 2015. Apart from the Mosaic Grand Chifley, opening next year, there is little in the supply pipeline. Brisbane room rates are forecast to grow by an average of 5.7% per annum over the next three years, while growth in yields is expected to be 6.2% per annum.
Deloitte forecasts international visitor arrivals to grow by an average of 4% per annum between now and June 2015 and international visitor nights to grow by an average of 4.3%.
The number of international visitors coming to Australia grew relatively modestly in the year to June 2012, but numbers are expected to pick up, with Deloitte forecasting above average growth.
“The headline growth in international arrivals continues to mask vast divergences across source markets, with China growing at double-digit pace while some traditional source markets (including Japan and the UK) contract.
“Over the next three years, more than 75% of the growth in international visitor nights will be from Asian travellers. Asia is, and remains, the key, and China continues to present a huge and long term opportunity,” says Deloitte Access Economics’ Lachlan Smirl.
"Local travel activity is also rebounding strongly, with domestic growth at their strongest in a decade,” he says.
“Domestic overnight trips increased by 5.8% for the year to June 2012, while domestic visitor nights grew by 6.7%,” Smirl says.
“Domestic visitation has now almost returned to pre-GFC levels and our forecast for growth in domestic visitor nights has been revised upwards, to an average of 1.3% per year over the next three years.
“This positive news is tempered slightly, however, by the mix of domestic travel type, with almost all of the growth in domestic visitor nights attributable to business travel and those visiting friends and relatives.
“Business visitor nights increased 9.2%, while friend and relative visits grew 13.8% in the year to June 2012. Domestic visitor nights by holiday travellers rose by just 0.4%, continuing the trend of sluggish growth in the domestic leisure segment.
“Looking forward, there are strong indications that the domestic tourism market is moving to a positive trend and, while the growth outlook is still moderate, the story is very much an encouraging one.”
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Perth heads strong capital city hotel outlook with business travel trending upwards: Deloitte

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If you own an investment property and rent it to tenants, you can run this business yourself or hire a property manager to do it. And that’s how you should regard this situation: it’s running a business.
In Western Australia, around 60% of investment properties are professionally managed by a real estate agency, and the remaining 40% are self-managed by private owners. The evidence suggests however, that the percentage of properties under professional management is growing.
If you work part time or are retired, have some basic legal competencies and understand the complexities of the Residential Tenancies Act (RTA), then managing your own property may work well for you.
The problem is that many private owners don’t understand their legal obligations under the RTA and some get into difficulties as a result.
Most owners underestimate the amount of time that goes into managing a property, or just how difficult, expensive and unpleasant things can become if a dispute arises. For example, if the tenants default on the rent, abscond or require eviction.
This is where a property manager can be invaluable. From the start, a good property manager can arrange the public viewing of the property and then thoroughly check all applications and references from prospective tenants. This includes scanning the National Tenancy Database to see if any applicants have a history of unacceptable behaviour.
Once suitable tenants are short-listed by the property manager and then chosen by you as the owner, the property manager can arrange all the lease documentation, take care of the rent collection, bond lodgement, occasional maintenance, quarterly home inspections and utility expenses, such as water and council rates.
Property managers are also skilled at understanding the market rate for the property and setting the weekly rent accordingly. Many private owners tend to misjudge this or feel uncomfortable about reviewing the rent with renewed leases for existing tenants even though this can be unwise over the long term.
The most important role of the property manager is to act as the link between the owner and the tenant in a professional way, so that the owner is not exposed to any situations that might be uncomfortable, while at the same time ensuring that the tenant can also raise issues without having to confront the owner directly.
If a situation arises that requires going to court, which sometimes happens, property managers are familiar with the law and can represent you at the hearing.
Property managers charge a percentage of the weekly rent as their fee, but this is fully tax deductible as part of your business expenses each financial year.
Contact REIWA to find your local property managers or to enquire further about their role in the housing sector.
David Airey is president of the <a href="https://reiwa.com.au/home/default.aspx" target="_blank">Real Estate Institute of Western Australia.</a> This article was originally published on <a href="https://reiwa.com.au/Faq/Pages/Feature.aspx">reiwa.com</a>.
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The benefits of using a property manager for your investment property

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The trendy suburb of Brunswick is keeping up with Melbourne’s fast-paced property market with the refurbishment of its Barkly Square shopping precinct along with a new nearby apartment complex.
A brisk stroll from Barkly Square is the new apartment complex Albert Apartments (pictured below), by Grange Development Group.
<img src="/images/stories/2012/11/albertapt2.jpg">
Sitting opposite a 5,665-hectare park, the Albert Street complex will comprise 150 apartments, with nine of its own retail and commercial premises.
One-bedroom apartments are priced at $369,000 to $459,000.
Two-bedroom apartments are priced at $495,000 to $660,000, and three-bedroom apartments are priced at $759,000 to $839,000.
The site was previously owned by the Sires Menswear family since 1920 but was rezoned by the Moreland Council.
<img src="/images/stories/2012/11/albertapt1.jpg">
“We don’t build run-of-the-mill apartments. Our projects have a point of difference, which is apartments with large living spaces, 2.7-metre ceiling heights, plus quality fixtures and fittings,” says Grange Development Group director Daniel Casper.
“Together we have achieved apartments that are 10% larger than the average and also 10% cheaper than our competitors. It’s a great balance,” says Casper.
The demand for sustainable energy efficient developments means there are 110 solar panels on the roof, expecting to meet 50% of the estimated energy requirements.
Albert Apartments are designed by Carbott Holt Architects.
The Albert Apartments are being offered for sale off the plan through Knight Frank and Avion Properties.
Construction will commence in May 2013 with an expected completion date mid to late 2014.
 
<hr class="system-pagebreak">
 
The first stage of the $17 million refurbishment of <a target="_blank" href="/news">Brunswick</a>’s Barkly Square (pictured below) is set to get underway this week.
<img src="/images/stories/2012/11/barklysquarepic.jpg">
Due for completion in April 2013, the refurbishment will include a full upgrade of internal and external appearances and amenities.
The first stage is focused on the fresh food market precinct and includes the upgrade of Kmart, Coles and Safeway.
Stage two is set to commence in April 2013 and will focus on the McDougal Lane dining precinct and the new JB Hi-Fi store.
The new Barkly Square – 14 kilometres north of Melbourne’s CBD – will comprise of 36 specialty shops.
Located at 90-106 Sydney Road and sitting on 17,544 square metres, it is the first time the shopping precinct has received a makeover since it’s opening in November 1983.
Barkley Square is owned by property investment group ISPT Pty Ltd and managed by Jones Lang LaSalle.
Architects Villa and Villa designed the new look.
The leasable shops range from 50 square metres to 400 square metres.
The new retail mix is hoping to build on Barkley Square’s strong fresh food heritage.
“We are thrilled to deliver a brand new, reinvigorated Barkly Square to the Brunswick community,” says Frances Dimech, Barkly Square's senior marketing manager.
“Stage one will showcase some exciting developments and we look forward to celebrating Barkly Square’s 30th birthday next year with the best present of all: a fantastic shopping experience and community hub that embraces the culturally diverse atmosphere this area is know for.”
ISPT chief executive Daryl Browning told the Moreland Leader the refurbishment would ensure Barkly Square was the centre of choice for fresh food and retail services.
“By refreshing Barkly Square’s retail mix, food outlets and amenities, we are creating a contemporary and vibrant shopping destination and meeting place for the Brunswick community who call Barkly Square their local shopping centre,” says Browning.
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Sires Brunswick East store set for retailoring as Albert Apartments 

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The residential property market remains challenging, but is also varied with different factors impacting on the performance of different markets, says Bill Conn chairman of developer Becton.
“The residential market has not performed in a uniform way.
“Markets across different geographic regions and price brackets as well as housing stock have each been driven by their own particular fundamentals,” said Conn in his address to the Becton AGM in Sydney today.
Conn also said that accessing funding remained challenging due to constrained capital and credit markets.
“This has particularly affected development funding and funding of the retirement living sector.”
Becton’s two biggest projects are Newleaf in Bonnyrigg and Divercity in Waterloo and Conn said they were both tracking well in terms of sales.
The developer managed to refinance $77.5 million of debt with ANZ and the Oman Investment Fund with Conn thanking its financiers for “working with us to develop a way forward that sees the group stabilise and look to rebuild”.
Becton reported a statutory loss of $17.9 million for the 2012 financial year.
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Varied residential market and raising financing a challenge for developers: Becton chairman

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The liquidator of collapsed building firm Reed Construction has recovered just $6,500 of the more the $1 million it claims it is owed it by the property arm of the Gold Coast Titans rugby league club.
The report prepared Reed Construction liquidator Mark Robinson shows that Reed Construction has lodged a claim for $1,046,000 for money owed on the construction on the Titans' Centre of Excellence at Robina.
Robinson says that under the deed of company arrangement, the Gold Coast Titans property arm is likely to return between 1.86 cents and 17.3 cents for every dollar owed.
The Centre of Excellence was sold to Sydney investor Phil Ward and Gold Coaster Robert Clark in August for an undisclosed sum. Both Clark, the uncle of Titans football manager Scott Clark and Ward were owed $4.8 million by the club through their company Handling Solutions Pty Ltd.
Reed Construction had sought a winding-up order against Gold Coast Titans (Property) Pty Ltd just months before Reed collapsed in July with debts of $182.1?million.
Gold Coast Titans (Property) Pty Ltd was placed in administration in April with creditors voting to return it to the control of management under a deed of company arrangement in mid-May.
It has debts of around $24 million with the Gold Coast Bulletin reporting in May that it had "cash in the bank" totalling $2,193 on May 16 and total assets of $485,000. The liquidators report also details that another rugby league club, Manly Sea Eagles, owes an undisclosed amount to Reed, but says that monies are unlikely to be recovered until at least January 2014.
Reed is also seeking monies for its work done on 470 St Kilda Road, an apartment project called Leopold, designed by architect Fender Katsalidis.
Prior to Robinson’s appointment Reed had successfully won its claim against the developer of the project, but this is currently being appealed in the Victoria Supreme Court.
According to the report, Reed Construction founder Geoff Reed has submitted a proposal to the liquidators to provide $7.4 million to settle an intercompany loan and “all other claims” without any admission of liability in relation to claims that company traded whilst insolvent.
Reed has offered to provide a further $2.4 million for the payment of inter-company loans should Reed Construction be returned to the control of parent company RBG Pty Limited, which owes Reed Construction $114 million.
The proposal is backed by a personal guarantee from Geoff Reed.
In his report Robinson notes a “complex webs of related companies and intercompany loans”.
Nearly 1,500 unsecured creditors are owed $152.6 million – many of them sub-contractors. Robinson says he is currently unable to declare a likely dividend payment for these creditors.
St George Bank is a secured creditor and owed $48.1 million. Former employees are owed $5 million.
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Reed Construction liquidator recovered just $6,500 to date from Gold Coast Titans property arm

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While property values have tread water over the past year, rents have risen by double-digit figures in a number of capital city markets as well as regional areas with ties to the mining industry.
The list of the top 10 best performing rental markets is dominated by markets with ties to the mining boom, which occupy the top six positions.
The top performing rental market is Perth unit rents, which are up 27% for the year to October to a median weekly rent of $470, but not far behind is the WA country unit market, where rents have increased by 25% to $375, some of this likely tied to demand for rental property in mining regions.
Weekly rents for Perth houses are up 20% the year to October to a median of $480.
The big increases in Perth house and unit rents are being driven by a lack of available rental accommodation with residential vacancy figures for October compiled by SQM Research show a Perth vacancy rate of just 0.6%, indicating a market overwhelmingly favouring landlords.
The 10 strongest rental markets
<table cellpadding="0" cellspacing="0" border="1" style="width: 470px;"><tbody>
<tr>
<td width="205" valign="top">
Market
</td>
<td width="205" valign="top">
Median weekly rent
</td>
<td width="205" valign="top">
Year to October 2012 change
</td>
</tr>
<tr>
<td width="205" valign="top">
Perth units
</td>
<td width="205" valign="top">
$470
</td>
<td width="205" valign="top">
27.03%
</td>
</tr>
<tr>
<td width="205" valign="top">
WA country units
</td>
<td width="205" valign="top">
$375
</td>
<td width="205" valign="top">
25%
</td>
</tr>
<tr>
<td width="205" valign="top">
Perth houses
</td>
<td width="205" valign="top">
$480
</td>
<td width="205" valign="top">
20%
</td>
</tr>
<tr>
<td width="205" valign="top">
Darwin units
</td>
<td width="205" valign="top">
$515
</td>
<td width="205" valign="top">
19.77%
</td>
</tr>
<tr>
<td width="205" valign="top">
Northern Territory units
</td>
<td width="205" valign="top">
$495
</td>
<td width="205" valign="top">
19.28%
</td>
</tr>
<tr>
<td width="205" valign="top">
Brisbane houses
</td>
<td width="205" valign="top">
$450
</td>
<td width="205" valign="top">
18.42%
</td>
</tr>
<tr>
<td width="205" valign="top">
Sydney units
</td>
<td width="205" valign="top">
$525
</td>
<td width="205" valign="top">
16.67%
</td>
</tr>
<tr>
<td width="205" valign="top">
Melbourne units
</td>
<td width="205" valign="top">
$415
</td>
<td width="205" valign="top">
15.28%
</td>
</tr>
<tr>
<td width="205" valign="top">
Queensland country units
</td>
<td width="205" valign="top">
$380
</td>
<td width="205" valign="top">
15.15%
</td>
</tr>
<tr>
<td width="205" valign="top">
NSW country units
</td>
<td width="205" valign="top">
$335
</td>
<td width="205" valign="top">
13.56%
</td>
</tr>
</tbody></table>
Source: Residex
The list contains only two detached house markets with the other strongly performing detached housing rental market being Brisbane houses, where weekly rents have risen more than 18%.
Weekly rents for Brisbane unit have risen by only half that of houses (9.72%) which the current surge in new apartment developments in inner Brisbane most likely a factor.
SQM Research figures show the Brisbane vacancy rate easing slightly from 1.5% to 1.6% over October, but still well below the balanced market position of a 3% vacancy rate.
A year ago the Brisbane vacancy rate was 1.8%.
To gain a deeper understanding of the mining town of Gladstone, download Property Observer's free eBook:<a target="_blank" href="http://propertyobserver.com.au/ebooks/free-ebook-gladstone-investment-keys-to-one-of-the-nations-most-talked-about-hotspots"> </a><a target="_blank" href="http://propertyobserver.com.au/ebooks/free-ebook-gladstone-investment-keys-to-one-of-the-nations-most-talked-about-hotspots">Gladstone – Investment keys to one of the nation’s most talked-about hotspots</a>.
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Double-digit rental gains for capital city and mining town landlords: Residex

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I’ve said it time and again that the residential investment property is a long-term proposition. The property market takes around seven to 10 years to move through a full cycle, from low capital growth/high rental yield to high growth/low yield and back again. 
Despite this, many property investors choose locations and property styles with little potential to survive and thrive throughout market fluctuations. Some investors choose locations that lack the long-term underlying demand to drive capital growth, while others choose property styles that don’t reflect trends in the way people want to live. 
In other words, the property investment decisions that look good today may not prove so attractive in five, 10 or 20 years’ time. It’s essential to understand the nature of long-term economic and demographic trends, then select assets accordingly. 
Interest rates rise and fall, but in the long term, dwindling oil reserves and rising petrol prices will be a key economic trend influencing the property market. In the coming years, rising prices at the pump will make outer-suburban living and commuting less feasible and less appealing. This will curtail the urban sprawl and increase demand among home buyers for property in the middle suburbs close to public transport corridors, shops and schools. 
At the same time, rising property prices in the inner and middle suburbs will put home ownership beyond the reach of more Australians, or at the very least, delay it significantly. Figures from the Bureau of Statistics tell us that the proportion of households renting from private landlords in Melbourne has increased from 22.8% in 2001 to 27.2% in 2011. Almost 32% of Sydney’s property market is inhabited by tenants. 
The increase in tenant demand is not unique to Australian cities. Major global cities such as London and New York have 50% or more of their property tenanted. I am not suggesting we are a London or New York just yet, but we are following a similar path, and there’s every reason to expect that this trend will continue.
Because many tenants want to maintain the trappings of an urban lifestyle, the trend away from home ownership will increase demand for rental properties within walking or short driving distance from trams, trains, shops, cafes and entertainment precincts. For those who can afford to buy, these areas will also be their preferred choice. This two-pronged demand from home buyers and investors will further boost capital growth prospects in the inner and middle suburbs. 
Delaying having children is another trend set to influence the residential market well into the future. The median age for parents is 28.9 for women and 33.1 for men, and women currently have an average of 1.9 children, compared with 2.8 in 1981. 
This trend has resulted in the average number of people per house almost halving over the last 100 years from 4.5 in people to 2.6. In addition, single-person households have jumped from 22.9% to 24.4% over the last 10 years. 
The shrinking size of the family unit means that demand for low-maintenance, compact dwellings will increase, while demand for the conventional sprawling home on a quarter-acre outer-suburban block will soften. 
When you look at all these trends in their entirety, it’s clear that pockets of the middle suburbs close to public transport, shops and schools will provide feasible long-term opportunities for residential property investment, particularly for investors who have been priced out of the tightly held inner suburbs.
Mark Armstrong is a director of <a target="_blank" href="https://www.ipropertyplan.com.au/">iProperty Plan</a>, which provides independent analysis and tailored advice to investors and home buyers.
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