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“Minister Chanthivong and his team have shown real leadership in replacing an outdated two-year bond with cover that matches the lifespan of the buildings people are buying into.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

Joel Robinson

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

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

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

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

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

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

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

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

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

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

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

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

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

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

Every First Home Owner Grant for new property by state

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

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

Staff Writer

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

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

alisonwarters@gmail.com

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

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

Ellen Walker

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

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

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

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The Forsyth Barr &amp; Bayleys Towers on Wellington’s Golden Mile retail strip have been sold to private investment company Robt Jones Holdings (RJH) for NZ$50.5 million (A$39.67 million).
The acquisition consists of three buildings situated at 165-77 Lambton Quay – two 22-level office towers and ground floor podium building housing Wellington’s most well-known department store Kirkcaldie &amp; Stains.
Kirkcaldie &amp; Stains is one of New Zealand’s oldest businesses and is the country’s largest locally owned department store, occupying 6,617 square metres of space.
The combined office space in the two towers is more than 9,500 square metres.
The three properties bring in initial annual net income of NZ$4.4 million, equating to a yield of around 8.8%.
The sale campaign was led by CBRE’s Ryan Johnson, Brent McGregor and Mark Hansen, which attracted six offers from investment groups based in Wellington and Auckland.
RJH Wellington manager Sam Cooper says the purchase reflects the company’s positive attitude towards Wellington and the city’s future prospects.
“The recent, heavily published suggestion that Wellington is in danger of becoming an economic backwater struck us as silly in the extreme,” he says.
“It is certainly inconsistent with our own experience as the CBD’s largest building owner given the steady demand we encounter for quality office space.”
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Wellington's Forsyth Barr & Bayleys Towers sold for NZ$50.5 million

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Property investors should avoid buying an apartment that does not come with a parking space, says investment adviser Monique Sasson Wakelin.
Sasson Wakelin says there are plenty of developers and estate agents “flogging carspaceless apartments” who are happy to tell would-be investors that it is a good idea to buy these sorts of properties.
“They talk about the paradigm shift away from car ownership and all those tenants happy to limit car use to the occasional hire vehicle for weekends away,” she says in a News Limited newspaper column.
But while there are some people who are happy not to own a car, they remain in the minority.
Wakelin says this is borne out in the 2011 census data, which shows that more than four-fifth (81%) of households own one or more cars.
Among those who live in apartments and flats, the figure is slightly lower at 75%.
Sasson Wakelin says her advice has remained steadfastly constant on this issue: “Don’t handicap your investment property by restricting the pool of potential tenants and future owners. A car park space is a must."
Delving further into the census data shows that 77% of Australian use a motorised vehicle to get to work and only 12% take public transport – the rest cycle, walk or work from home.
But Sasson Wakelin says investors being close to public transport is still important for an investment property.
She says being close to public transport is a “major plus” for investors because 1.7 million Australians work in the city or in the surrounding inner suburbs, making it “neither desirable nor feasible for everyone to drive to their place of work”.
Demand for property remains high in suburbs that have good public transport options because it means they can choose between their car and catching a bus, train, tram or ferry, says Sasson Wakelin.
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Don’t invest in apartments without a car park: Monique Sasson Wakelin

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The WA government is proposing changes to the Residential Tenancies Act that would require landlords to fit a single deadbolt lock on every front and back door as well as locks on all other external doors and windows.

Property Observer estimates it could cost landlords anything from $150 to hundreds of dollars to satisfy the proposed new requirement, depending on the number of doors and windows in a property.

The current guide to renting out property (prepared by WA’s consumer protection division) says for landlords to comply with the act, they “need only provide normal locks to external doors and ensure all opening windows can be secured by catches on the inside”.

The changes have been proposed by Finance Minister Simon O’Brien and are due to be introduced next year.

O’Brien says the changes are in response to feedback following a review of the act including from anti-domestic violence groups, who claimed deadbolts were needed for vulnerable women and to make easier for tenants to get home contents insurance.

However, the legislation has been slammed from within O’Brien’s own government, with Liberal backbencher Michael Sutherland writing to complain on behalf of his constituents about what he calls “petty regulations”.

"I am amazed that the government is getting down to this level of minutiae," Sutherland wrote, according to a report in the West Australian.

It has also been criticised by the Real Estate Institute of Western Australia (REIWA), which describes the requirements as placing unrealistic expectations upon owners and exceeding the security levels that the average home owner would have.

The REIWA says security concerns are rarely raised as part of the 10,000 tenancy enquiries it receives each year.

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WA landlords could be locked into deadbolt requirements for rental properties

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With flat or falling property markets around Australia for the last few years, many property investors are worried and wondering: "What will my property be worth next year?"
Every Monday they look at the auction clearance results, and each month they check on median property values. While it's not as bad as watching your shares fluctuate in value on a minute-by-minute basis, this short-term focus is unhealthy for investors, who are generally in it for the long-term.
I think a better question to ask would be: "What will my property be worth in 10 years’ time?"
The scary thing for some is that there are still commentators out there suggesting property values won't rise for another decade. “Just look at the financial mess the world has got itself into,” they say.
Then there are those overseas gurus who predict the world is about to go through an economic tsunami that will finally swamp Australian property, taking prices all the way back to where they were a decade ago.
Of course there's nothing new about these property pessimists – they've always been around, and they've always been wrong.
Look what happened over the last 10 years
 The value of well located capital city properties have more than doubled over the last 10 years despite the introduction of the GST in 2001, the dotcom share market crash, going to war in Iraq, a change in government, periods of high interest rates, periods of low interest rates and the world's worst economic downturn since the Great Depression.
I'm sure more Australians would have bought properties 10 years ago if they knew what would happen to values over the next decade.
Of course I don't know what's ahead in the next 10 years, but I do know that there will be just as many hurdles to jump over.
Australia is well-positioned for the future
 While many parts of the world are in economic turmoil, Australia's economic fundamentals suggest the next 10 years are going to be just as good, if not better, for property than the last 10 years were.
Our economy is the envy of most other developed nations, unemployment is low, our banking system is sound, our population is growing and on average we are the wealthiest people in the world.
Putting all this together means that property values are once again likely to rise significantly over the next decade.
But if history repeats itself, and it will, during that time we will have another property boom, a further property slump and most likely another economic downturn.
To safely steer through the next decade to the point where their property values will have once again double, strategic investors will need to stop worrying about the "market noise" and not be intimidated by the small stuff, like interest rate increases, tax issues and the negative news in the media.
Instead, they will need to focus on the big picture.
 
<hr class="system-pagebreak">
So what will Australia look like in the future?
Our population will keep growing as skilled immigrants come to Australia to take up the jobs that will be created as well as replacing the retiring baby boomers. 
According to a report from research firm <a target="_blank" href="https://www.ibisworld.com.au/">IBISWorld</a>, the average Aussie in 2025 will be greener, live in a city apartment with a balcony and shop on the internet. 
The research shows that increased urban sprawl, gentrification and multi-occupancy housing will continue to be the big housing trends in the coming 10 years. 
The population of all our capital cities will increase significantly, but looking towards 2025 Western Australia is expected to exhibit the strongest population growth, adding an additional 1 million people to its population over the next decade. 
In terms of types of residences, the report suggested that property price increases, combined with family and lifestyle factors, will drive a trend towards apartment and high-density living. More Australians will be trading in quarter-acre blocks for balconies in the future. 
The increasing average age of marriage (now 29 for females, 32 for males) and the trend to wait longer to have children is another factor fuelling the shift towards apartment living – with young people opting to live in close proximity to work, entertainment, dining and public transport.
It becomes fascinating when you consider that Melbourne and Sydney may each require around 30,000 new apartments over the next 10 years. This is equivalent to 150 high-rise buildings, each accommodating 200 apartments. Things will get interesting because while Australians request less urban sprawl, they also want less high-rise living, so the idealistic preferences will have to give way to reality.
It is likely that we will have more decentralised development in the future with the emergence of medium- to high-rise residential buildings in the suburbs rather than just in the inner-suburban areas. These will occur around public transport terminals, railway stations and possibly conjunction with large shopping centres. We will also see the continuation of the trend of integrating medium-density residential development with existing strip shopping centres.
What should a property investor look for?
What this boils down to it that over the next 10 years conditions in our capital cities are likely to be even better than we experienced over the last 10 years and overall properties will increase in value by billions of dollars a year. 
If you want to develop financial independence through real estate it will be important to own the type of property that will be in continuous strong demand in the future, and particularly the type of property that will be in demand by owner-occupiers (who are the ones that push up property values) rather than what tenants will want. I’ve found there are always tenants for all levels of property, and this is likely to continue in the future as affordability of well-located apartments will become an issue for more young buyers.
It will be interesting to look back in 10 years’ time and see how things pan out.
In the meantime, strategic investors will take a big picture view, buy more located properties and see the value of their portfolio steadily increase.
Michael Yardney is a director of <a href="https://www.metropole.com.au/">Metropole Property Strategists</a>, which creates wealth for its clients through independent, unbiased property advice and advocacy. He is best-selling author, one of Australia's leading experts in wealth creation through property and writes the <a href="https://propertyupdate.com.au/category/property-investment/">Property Investment Update</a> blog. Subscribe today and you'll receive a free video, The Golden Rules of Property Investment.
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Why property investors should not be worried about values falling: Michael Yardney

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Spring is so beautiful in the Hunter Valley, the birds are singing and the flowers blooming, the grape vines have sprung to life and are green and luscious and the hills and bush are green and thriving.
Is it the same for the property market in this region?  Well, yes and no.  I have found spring – that is September, October and November 2012 – to deliver two extremes in the Hunter Region of NSW.
If we look at the rental market, it was at full bloom by September, however just two months later we have seen the market start to dry up. Traditionally, spring is a strong rental period as tenants look to settle into new homes before Christmas. However, in the towns Property Bloom is developing predominately, <a href="/news">Muswellbrook</a>, <a href="/news">Maitland</a> and <a href="/news">Cessnock</a>, finally the reduction in coal price, coupled with ongoing uncertainty in financial markets, has started to impact employment levels, particularly in Muswellbrook.  The availability of capital within the mining industry has put some projects on ice.
However, Adam Harris, manager of mining recruitment ads at Robert Walters, says: "There are signs the industry will recover in early 2013. Although the general media is reporting ‘the death of coal and mining’, the industry is cyclical and will rebound. Project professionals who were made redundant will be rehired, as will many of the contractors who were let go from their site-based roles. Confidence will return, and we expect a good recovery."
I know it’s certainly not “the death of coal and mining”, but there is a general tightening of belts in the mines, which flows through to the community. The general mood is to save and be conservative with spending until the wash-up of European events and China’s demand is really known.   Rumour has it the mines are letting contracts expire and will use this as cost-cutting measure, rehiring the contractors at lower rates. As uncertainty prevails, people budget and renters look for less expensive rental properties.  So within the period of spring, we have seen a drastic change in rental demand.
Admittedly, we have been riding a massive wave of rents. Only in August we heard the Hunter Valley Research Foundation warn of a rental crisis gripping Upper Hunter mining communities. A Hunter Valley researcher is warning a rental crisis gripping Upper Hunter mining communities will likely worsen over the next year.
"We're starting to see rent increasing by about 15% per annum, and my concern is that they're really going to step up over the next 12 months," says the foundation's director of research, Simon Deeming.
Although I must point out Maitland and Cessnock have a more diverse economy –  tourism, wine growing, retail and manufacturing being major employers – and these towns are not so reliant on the mining industry.  We have also seen many contractors being employed on the $1.7 billion Hunter Expressway, which is well under construction and due for completion late 2013. This project will continue to be a source of employment for the next 12 months or so.
 
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On the flip side, property values are doing well. During spring, we completed over 12 dwellings and they have all had reasonably strong valuations.  I study the median prices each month, and I have seen small incremental rises throughout 2012 and still throughout spring, so I haven’t noticed a drastic change to sales prices.
My take on spring 2012 for the Hunter towns we work in is more a correction of the strong rental demand that we’ve been enjoying. I don’t think it’s a bad thing, really. Like one of my agents said, conditions are simply returning to “normal”.  So we can’t complain as we really have had a good run.
I believe confidence will return early next year, the Hunter has consistently demonstrated its ability to adapt and innovate when faced with uncertainty and the mines will continue to employ, perhaps at lower rates. Some large mines have expansion approvals so I hear there will still be plenty of jobs.
Local populations are growing.  Cessnock experienced the highest percentage of population growth of any local government area in the Hunter from 2006 to 2011. The city’s population grew 10.2% – from 46,143 at the 2006 census to 50,863 in 2011.
The Maitland municipality was second, with 9.6% growth.
Mayor of Cessnock Bob Pynsent says the figures are a “vote of confidence” for the city. “People want to live in Cessnock, and council needs to be prepared if this trend continues,” he says.
The rate cut we received in October had little impact, and I think the RBA probably lost an opportunity in November, choosing to keep rates steady instead of dropping again.  The banks of course don’t pass on the full amounts, so that doesn’t help. We need another few rate cuts to bring back some confidence. People are in de-gearing mode, so there are not as many investors as active as should be at this time in the property life cycle. I also think the tightening of credit to self-employed investors or low-doc lenders has impacted and reduced the number of investors in the market.
If it’s a holiday you are after, there really is no better place to be in spring than the Hunter Valley.  Temperatures are in the early 20s, and the good weather lends itself to outdoor events such as the Jazz in the Vines and Opera in the Vineyards. In December you can see Simple Minds and Devo at A Day on the Green.
The Hunter Valley Gardens are holding the Christmas Lights Spectacular, which is now in its sixth year, and they’ve added a quarter of a million lights, making the display over 1,250,000 Christmas lights in total.
The Hunter Valley Rose Garden spans 6,070 square metres, with a centre garden of 50 meters in diameter. There are over 8000 roses, that include 56 different varieties with 35,000 rose plants.
The Hunter Valley has a healthy tourism industry, so as the mining industry settles, the tourism industry builds, and that’s the advantage of a diverse economy.
From our perspective, Property Bloom has had a busy spring as investors are still very interested to take that next step into property developing, and with an undersupply of new dwellings and the <a href="https://www.osr.nsw.gov.au/lib/doc/factsheets/ofs_nhg1.pdf">NSW New Home Grant</a> encouraging development, it really is a good time to embark on a development project.
Jo Chivers is director of <a href="https://www.propertybloom.com.au/">Property Bloom</a>, which manages property development. Property Bloom is holding a small seminar next Tuesday in Brookvale in Sydney. Numbers are strictly limited, but if you think you may be ready to take the next step into a property development and would like to come along, then <a href="mailto:jo@propertybloom.com.au">please email Jo for details</a>
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Spring property market a case of extremes in mining areas

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The consortium that wins the rights to redevelop the Sydney convention centre at Darling Harbour will need build an additional 1,000 hotel rooms, according to the Tourism and Transport Forum (TTF).

The tourism industry lobbying group says building the right number of hotel rooms is vital to the success of the project.

“We think the number of hotel rooms that result from the development is vital to get Sydney back as the number one convention centre – and that means a hotel of 1,000-plus rooms,” said John Lee, head of the TTF, in an article in the Australian Financial Review.

Lee recalled the redevelopment of the Melbourne Convention and Exhibition Centre at South Wharf, where only an extra 250 hotel rooms were added – not enough in his view.

Currently Barangaroo developer Lend Lease and the Plenary Group are leading the two consortiums that are in the running to be awarded the $1 billion contract.

An announcement on the winning tender is expected to be made before Christmas.

Redeveloping Sydney’s International Convention, Exhibition and Entertainment Centre is one of the election promises of the NSW state government.

Construction of interim facilities on Glebe Island are due to begin in mid-2013, with the existing facilities at Darling Harbour closed from November until a re-launch in 2016.

Redevelopment plans include the building of the largest exhibition space in Australia at 40,000 square metres, the biggest meeting room space in Australia at 6,000 square metres and the biggest Australian convention hall with capacity of more than 10,000 people.

The new convention centre will be developed as a public private partnership (PPP) in conjunction with Infrastructure NSW (INSW).

The convention centre contributes up to $460 million to the NSW economy every year.

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Darling Harbour needs at least another 1,000 hotel rooms for new convention centre: Tourism and Transport Forum

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Most property sales tend to take place during autumn, but for many people who are thinking of buying the next few months over Christmas and the summer holiday period can provide good opportunities to take some time out and look around.
Many home buyers are keen to be ready for the new year, often because of a new job, the start of the university calendar or settling the kids into a new school.
Real Estate Institute of Western Australia data show that sales slowed during the September quarter, but early indications are that things picked up in the month of October.
There are currently around 11,000 properties on the market, which is perhaps around 1,000 fewer than we might typically expect in a more usual market with a better ratio between listings and buyers.
People are taking a while to look around and decide on a purchase with the number of selling days stretching out to around almost three months once a house is listed for sale.
The more affordable homes are being snapped up by first home buyers more quickly, while the trade-up market is slower.
Historically you might expect approval for home loan finance within two weeks, but most loan providers now require at least three or four weeks since the banking industry tightened its application processes to ensure prudent borrowing.
If you are thinking of selling your property it generally makes sense to get it on the market well before Christmas, but by the second half of December you can expect the market to go quiet until February when it tends to pick up again.
Successful sellers should allow extra time for settlement. Usually five weeks is enough between the contract of sale and the settlement date, but Christmas and New Year holidays may cause delays with building inspections and termite clearances, particularly if workers are on leave. As such, it’s wise to leave around seven weeks for the settlement period at this time of year.
If you have not sold your home before the end of the year you can expect a strong slow down in the market during the festive season through until late January. Your real estate agent can advise you on the best marketing strategy during this period. In consultation with your agent, you may even decide to take your property off the market until February.
Given current market conditions, it’s very important that a property is priced correctly to solicit genuine offers, facilitate a smooth sale and to get the job done in reasonable time.
Knowing when and how to best market your property for sale is just part of the skill and experience that comes from hiring a professional agent.
David Airey is president of the <a target="_blank" href="https://reiwa.com.au/home/default.aspx">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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dairey-MVZf5ZguQC

What to expect if you are selling property in the lead-up to Christmas

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It is very challenging for many people who have recently arrived in Perth to find a rental property with over 1,000 people coming to Western Australia every week in search of employment and a better life.
People who have newly arrived in WA find it especially difficult to find rental accommodation because they have no track record in the local property market.
Rental vacancy rates in Perth are now below 2% and have fallen below 1% in inner city areas where many migrants want to secure a rental property because it is close to the CBD.
Limnios Property Group is now finding that one in every three applications for rental properties are recently arrived migrants.
For anyone wanting to rent a property in the current market, one key issue they should keep in mind is to have an open mind on where to live and what type of rental home they can secure.
Generally, while there is a dearth of rental properties in near city areas, rental homes are more plentiful in the outer-Perth suburbs. So a short-term option could be to rent a home in the outskirts of Perth and then apply for a near city rental property after six months once you have demonstrated that you are a good tenant.
Alternatively, if you are really keen on securing a property in an inner-city area then you should be prepared to apply for less attractive rental properties that some people overlook. These properties could be older-style flats or homes located on main roads.
The key objective should be to secure a rental property as soon as possible and then establish a proven record a good tenant. After this objective is achieved then you can apply with some confidence to secure more attractive rental accommodation.
Whatever rental home you apply for, there are certain measures you should undertake to enhance your chances of success.
You should approach their rental-housing search like you would a job search. It is important to be organised, serious, professional, and make sure you stand out as the best applicant. This means that you have to make a good impression and demonstrate that you will be a good steward for the landlord's property.
It is important to have at least three reliable references, and if you have rented before ensure that you have contact details of your last landlord. In addition, you should contact your references ahead of time to be sure your information on them is current and that you have their permission to use them as a reference.
If you have never rented before and owned a property, then have evidence of this home ownership as well as other independent references. Written references are highly regarded by landlords and property management companies.
In this regard, you should be prepared with all the information you need to complete a rental application. That includes full, prior addresses, bank account and credit card numbers, and a list of references. Landlords will not respond to incomplete applications.
A good idea is to consider consider preparing a renter's resume. You may have to repeat the information on the application, but you will stand out as well-organised and prepared.
<a target="_blank" href="https://plus.google.com/111490789069514581435/posts">James Limnios</a> is the CEO of <a target="_blank" href="https://www.limnios.com/">Limnios Property Group</a>, is a City of Perth councillor, and is very passionate about real estate and political issues in Perth, WA. You can connect with James on <a target="_blank" href="https://twitter.com/jameslimnios">Twitter</a>,<a target="_blank" href="https://www.propertyobserver.com.au/https://plus.google.com/111490789069514581435"> Google Plus </a>and on his <a target="_blank" href="https://jameslimnios.blogspot.com/">blog</a>.
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Migrants struggle to find accommodation in Perth

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<img src="/images/stories/2012/11/1.gif">
Be hard nosed. Don't let emotions trump reason.
 
<hr>
 
<img src="/images/stories/2012/11/2.gif">
Await the cyclical tough market so you are cashed-up ready to go.  
 
<hr>
 
<img src="/images/stories/2012/11/3.gif">
Register your interest, but never the upper level of your buying preparedness.
 
<hr>
 
<img src="/images/stories/2012/11/4.gif">
It never hurts to put in a low offer. Especially if the property has been on the market for an above-average length of time. A strategically wise offer won't be necessarily be taken as an insult.
 
<hr>
 
<img src="/images/stories/2012/11/5.gif">
Properties that have been on the market for some time may not be shifting for a variety of reasons, but most likely the asking price is way too high. Watch the listing go through two or three agents, and eventually most sellers will shift on their price, which is when it is worth putting in a low-ball offer.
 
<hr>
 
 
<img src="/images/stories/2012/11/6.gif"> Be the top bidder at auction, but then put in a lower post-auction offer to the possibly unnerved vendors. Especially at vendor bid auctions. Now that you're also the wiser as to the level of buyer competition from any other registered bidders, don't be afraid of putting in a lower offer.
 
<hr>
 
<img src="/images/stories/2012/11/7.gif">
Suss out the locations with a buyers' market where you are spoiled for choice. Avoid the so-called vendors' market. Make sure the buyers' market has an understandable, but easily remedied reason for its current lacking status.
 
<hr>
 
<img src="/images/stories/2012/11/8.gif">
Avoid buying from highly successful selling agents who knock you over with their zeal. Find the lazy or out of sorts agent who allow property to sell without putting in the hard yards of successful negotiation.
 
<hr>
 
<img src="/images/stories/2012/11/9.gif">
Make a low offer proffering a blunt, but credible reason that highlights something about the property that really does reduce its buying appeal. Hold you nerve and politely wear the agent down over time.
 
<hr>
 
<img src="/images/stories/2012/11/10.gif">
Seek out mortgagee or executor auctions – they are quite likely to have low reserves – but don't get emotional once the auction bidding is underway.
 
<hr>
 
<img src="/images/stories/2012/11/11.gif">
 Find out from casual querying of the listing agent the circumstances of the vendor's motives. Knowledge is power when it comes to price negotiation. 
 
<hr>
 
<img src="/images/stories/2012/11/12.gif">
Buy shortly before or after Christmas from vendors who've had to, or want to avoid, taking bridging finance for their next home.
 
<hr>
 
<img src="/images/stories/2012/11/13.gif">
Steer clear of buying a new home or off the plan as the last thing most long-haul developers want is to buckle to random asking price reductions. On the other hand, they will most likely throw in free carpets or curtains or pay your stamp duty. 
 
<hr>
 
<img src="/images/stories/2012/11/14.gif">
Remember it’s not just the price on which to negotiate: with other aspects including the settlement period brought forward or delayed, the size of the deposit, releasing the deposit, and the inclusions in the contract. All are worth something to you.
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po-LsXgBTHBmX

The 14 smart ways of buying property at a discount – and why Christmas can be to your advantage

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Bellamack, the Darwin semi-rural Palmerston district suburb, tops the latest list of 32 regional localities in South Australia, Northern Territory, Western Australia and Tasmania with the highest rental yields for houses, according to information provided by RP Data.
The Property Observer list covers all states and territories outside the big three, <a target="_blank" href="https://www.propertyobserver.com.au/landlords/east-coast-australia-s-top-40-highest-rental-yield-suburbs-from-moranbah-to-tregear/2012112057965">NSW, Victoria and Queensland</a>.
Western Australia localities top the list, with 14 suburbs with high rental yields.
Tasmania is second with 11 high rental yield suburbs.
South Australia comes in third place with five localities.
Northern Territory has two localties, but tops the list with yields above 14%.
There are none from the Australian Capital Territory. 
<table align="left" cellpadding="0" cellspacing="0" border="1" style="width: 470px;"><tbody>
<tr>
<td width="150" valign="top">
SUBURB
</td>
<td width="150" valign="top">
POSTCODE
</td>
<td width="150" valign="top">
MEDIAN PRICE
</td>
<td width="150" valign="top">
GROSS RENTAL YIELD
</td>
</tr>
<tr>
<td width="150" valign="top">
<a target="_blank" href="/news">Bellamack</a>
</td>
<td width="150" valign="top">
0832
</td>
<td width="150" valign="top">
$223,000
</td>
<td width="150" valign="top">
15.3%
</td>
</tr>
<tr>
<td width="150" valign="top">
<a target="_blank" href="/news">Johnston</a>
</td>
<td width="150" valign="top">
0832
</td>
<td width="150" valign="top">
$240,000
</td>
<td width="150" valign="top">
14.1%
</td>
</tr>
<tr>
<td width="150" valign="top">
<a target="_blank" href="/news">Kambalda West</a>
</td>
<td width="150" valign="top">
6442
</td>
<td width="150" valign="top">
$130,000
</td>
<td width="150" valign="top">
12%
</td>
</tr>
<tr>
<td width="150" valign="top">
<a target="_blank" href="/news">Bulgarra</a>
</td>
<td width="150" valign="top">
6714
</td>
<td width="150" valign="top">
$675,000
</td>
<td width="150" valign="top">
10.8%
</td>
</tr>
<tr>
<td width="150" valign="top">
<a target="_blank" href="/news">Pegs Creek</a>
</td>
<td width="150" valign="top">
6714
</td>
<td width="150" valign="top">
$730,000
</td>
<td width="150" valign="top">
10.7%
</td>
</tr>
<tr>
<td width="150" valign="top">
<a target="_blank" href="/news">South Hedland</a>
</td>
<td width="150" valign="top">
6722
</td>
<td width="150" valign="top">
$850,000
</td>
<td width="150" valign="top">
10.7%
</td>
</tr>
<tr>
<td width="150" valign="top">
<a target="_blank" href="/news">Zeehan</a>
</td>
<td width="150" valign="top">
7469
</td>
<td width="150" valign="top">
$73,000
</td>
<td width="150" valign="top">
10.7%
</td>
</tr>
<tr>
<td width="150" valign="top">
<a target="_blank" href="/news">Port Hedland</a>
</td>
<td width="150" valign="top">
6721
</td>
<td width="150" valign="top">
$1,150,000
</td>
<td width="150" valign="top">
9.9%
</td>
</tr>
<tr>
<td width="150" valign="top">
<a target="_blank" href="/news">Queenstown</a>
</td>
<td width="150" valign="top">
7467
</td>
<td width="150" valign="top">
$74,500
</td>
<td width="150" valign="top">
9.8%
</td>
</tr>
<tr>
<td width="150" valign="top">
<a target="_blank" href="/news">Millars Well</a>
</td>
<td width="150" valign="top">
6714
</td>
<td width="150" valign="top">
$827,500
</td>
<td width="150" valign="top">
9.4%
</td>
</tr>
<tr>
<td width="150" valign="top">
<a target="_blank" href="/news">Baynton</a>
</td>
<td width="150" valign="top">
6714
</td>
<td width="150" valign="top">
$997,000
</td>
<td width="150" valign="top">
9.3%
</td>
</tr>
<tr>
<td width="150" valign="top">
<a target="_blank" href="/news">Dampier</a>
</td>
<td width="150" valign="top">
6713
</td>
<td width="150" valign="top">
$880,000
</td>
<td width="150" valign="top">
9.3%
</td>
</tr>
<tr>
<td width="150" valign="top">
<a target="_blank" href="/news">Derby</a>
</td>
<td width="150" valign="top">
6728
</td>
<td width="150" valign="top">
$532,500
</td>
<td width="150" valign="top">
9.3%
</td>
</tr>
<tr>
<td width="150" valign="top">
<a target="_blank" href="/news">Nickol</a>
</td>
<td width="150" valign="top">
6714
</td>
<td width="150" valign="top">
$990,000
</td>
<td width="150" valign="top">
9.2%
</td>
</tr>
<tr>
<td width="150" valign="top">
<a target="_blank" href="/news">Merredin</a>
</td>
<td width="150" valign="top">
6415
</td>
<td width="150" valign="top">
$185,000
</td>
<td width="150" valign="top">
9%
</td>
</tr>
<tr>
<td width="150" valign="top">
<a target="_blank" href="/news">Campbelltown</a>
</td>
<td width="150" valign="top">
7210
</td>
<td width="150" valign="top">
$152,000
</td>
<td width="150" valign="top">
8.6%
</td>
</tr>
<tr>
<td width="150" valign="top">
<a target="_blank" href="/news">Risdon Vale</a>
</td>
<td width="150" valign="top">
7016
</td>
<td width="150" valign="top">
$167,750
</td>
<td width="150" valign="top">
8.1%
</td>
</tr>
<tr>
<td width="150" valign="top">
<a target="_blank" href="/news">Peterborough</a>
</td>
<td width="150" valign="top">
5422
</td>
<td width="150" valign="top">
$88,000
</td>
<td width="150" valign="top">
8%
</td>
</tr>
<tr>
<td width="150" valign="top">
<a target="_blank" href="/news">Bridgewater</a>
</td>
<td width="150" valign="top">
7030
</td>
<td width="150" valign="top">
$165,000
</td>
<td width="150" valign="top">
7.7%
</td>
</tr>
<tr>
<td width="150" valign="top">
<a target="_blank" href="/news">Piccadilly</a>
</td>
<td width="150" valign="top">
6430
</td>
<td width="150" valign="top">
$302,500
</td>
<td width="150" valign="top">
7.6%
</td>
</tr>
<tr>
<td width="150" valign="top">
<a target="_blank" href="/news">Waverley</a>
</td>
<td width="150" valign="top">
7250
</td>
<td width="150" valign="top">
$157,000
</td>
<td width="150" valign="top">
7.6%
</td>
</tr>
<tr>
<td width="150" valign="top">
<a target="_blank" href="/news">Quorn</a>
</td>
<td width="150" valign="top">
5433
</td>
<td width="150" valign="top">
$143,000
</td>
<td width="150" valign="top">
7.6%
</td>
</tr>
<tr>
<td width="150" valign="top">
<a target="_blank" href="/news">Chigwell</a>
</td>
<td width="150" valign="top">
7011
</td>
<td width="150" valign="top">
$194,000
</td>
<td width="150" valign="top">
7.5%
</td>
</tr>
<tr>
<td width="150" valign="top">
<a target="_blank" href="/news">Clarendon Vale</a>
</td>
<td width="150" valign="top">
7019
</td>
<td width="150" valign="top">
$150,000
</td>
<td width="150" valign="top">
7.5%
</td>
</tr>
<tr>
<td width="150" valign="top">
<a target="_blank" href="/news">Port Augusta</a>
</td>
<td width="150" valign="top">
5700
</td>
<td width="150" valign="top">
$171,250
</td>
<td width="150" valign="top">
7.3%
</td>
</tr>
<tr>
<td width="150" valign="top">
<a target="_blank" href="/news">Katanning</a>
</td>
<td width="150" valign="top">
6317
</td>
<td width="150" valign="top">
$172,500
</td>
<td width="150" valign="top">
7.2%
</td>
</tr>
<tr>
<td width="150" valign="top">
<a target="_blank" href="/news">George Town</a>
</td>
<td width="150" valign="top">
7253
</td>
<td width="150" valign="top">
$145,000
</td>
<td width="150" valign="top">
7.2%
</td>
</tr>
<tr>
<td width="150" valign="top">
<a target="_blank" href="/news">New Norfolk</a>
</td>
<td width="150" valign="top">
7140
</td>
<td width="150" valign="top">
$180,000
</td>
<td width="150" valign="top">
7.2%
</td>
</tr>
<tr>
<td width="150" valign="top">
<a target="_blank" href="/news">Port Pirie West</a>
</td>
<td width="150" valign="top">
5540
</td>
<td width="150" valign="top">
$130,000
</td>
<td width="150" valign="top">
7.2%
</td>
</tr>
<tr>
<td width="150" valign="top">
<a target="_blank" href="/news">Tailem Bend</a>
</td>
<td width="150" valign="top">
5260
</td>
<td width="150" valign="top">
$145,000
</td>
<td width="150" valign="top">
7.2%
</td>
</tr>
<tr>
<td width="150" valign="top">
<a target="_blank" href="/news">Lamington</a>
</td>
<td width="150" valign="top">
6430
</td>
<td width="150" valign="top">
$345,000
</td>
<td width="150" valign="top">
7.1%
</td>
</tr>
<tr>
<td width="150" valign="top">
<a target="_blank" href="/news">Railton</a>
</td>
<td width="150" valign="top">
7305
</td>
<td width="150" valign="top">
$164,000
</td>
<td width="150" valign="top">
7%
</td>
</tr>
</tbody></table>
</body></html>

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