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“Minister Chanthivong and his team have shown real leadership in replacing an outdated two-year bond with cover that matches the lifespan of the buildings people are buying into.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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There are sizable differences in residential rent payment frequency between different states, which real estate entrepreneur Ben White says has significant implications for real estate agencies.
In Victoria, more than 70% of rent is paid on a monthly basis, but in Queensland most rent is paid on a weekly or fortnightly basis, with less than 5% on a monthly basis.
NSW is similar to Queensland, with just 11.5% paid monthly and then rest paid fortnightly or weekly.
Paying on a monthly basis is much more beneficial to agents, tenants and landlords, says White, and he thinks this should be the norm.
“Monthly is better for everyone. Tenants often prefer it, and it’s much more efficient for a property management business because they have more predictable cashflow coming through. It just makes more sense for everyone to have lumpier transactions,” White says.
“In Queensland a property manager will spend two to three times as much time on rent collection and arrears than their Victorian counterpart.”
The data comes from White’s property management company, Atmosphere, which handles $30 million a month in rent for agents around the country.
White says the difference in frequency between the states comes from cultural and historical differences.
“The industry in each state has evolved under different cultural norms. There’s no law one way or the other it’s simply the way people expect rent to be payed,” White says.
“You see a lot of practises in industry that are determined by how they were taught by their predecessor.”
White says agents in Queensland and NSW need to change the accepted practises of paying month weekly.
“Our recommendation is to have a payment system that automates and has direct debit authorities, modern payment systems et cetera but also look at the industry practises.”
White says changing to a monthly system not only has efficiency and cash-flow benefits but also improves relationships with landlords.
“When you start having weekly rents versus monthly rents you end up having often have a situation where even low levels of arrears have a disproportionate effect on the relationship with the landlord,” White says.
“If someone misses one in 10 weekly payments the end result is you have a much higher frequency of the landlord getting short-payed.
“When it comes to landlords evaluating property managers, whether they are short payed is a critical factor.”
White will be speaking at the wealth conference in August next year, a conference aimed at property management professionals.
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</colgroup>
<tbody>
<tr height="20">
<td height="20" width="64">State</td>
<td width="68">Weekly %</td>
<td width="89">Fortnightly %</td>
<td width="100">Four Weekly %</td>
<td width="102">Monthly %</td>
</tr>
<tr height="20">
<td height="20">NT</td>
<td>27.27%</td>
<td>63.64%</td>
<td>0.00%</td>
<td>9.09%</td>
</tr>
<tr height="20">
<td height="20">TAS</td>
<td>13.04%</td>
<td>65.22%</td>
<td>0.00%</td>
<td>21.74%</td>
</tr>
<tr height="20">
<td height="20">VIC</td>
<td>12.40%</td>
<td>15.57%</td>
<td>0.34%</td>
<td>71.69%</td>
</tr>
<tr height="20">
<td height="20">ACT</td>
<td>16.67%</td>
<td>83.33%</td>
<td>0.00%</td>
<td>0.00%</td>
</tr>
<tr height="20">
<td height="20">QLD</td>
<td>45.56%</td>
<td>48.10%</td>
<td>2.00%</td>
<td>4.34%</td>
</tr>
<tr height="20">
<td height="20">NSW</td>
<td>36.74%</td>
<td>49.26%</td>
<td>2.49%</td>
<td>11.51%</td>
</tr>
<tr height="20">
<td height="20">SA</td>
<td>14.01%</td>
<td>80.89%</td>
<td>1.91%</td>
<td>3.18%</td>
</tr>
<tr height="20">
<td height="20">WA</td>
<td>42.17%</td>
<td>48.56%</td>
<td>3.51%</td>
<td>5.75%</td>
</tr>
</tbody>
</table>
</body></html>

awalsh-7Ub9EypybQ

Queensland and WA tenants still paying weekly rentals with Victorian property management the most efficient

<html><body>
The 110-year old riverfront Heritage Hotel in Rockhampton on the central Queensland coast has been listed for sale with price expectations of around $7 million.
<img src="/images/stories/2012/10/heritagerockhampton2.jpg">
Located at 228 Quay Street <a target="_blank" href="/news">Rockhampton</a>, 600 kilometres north of Brisbane, the heritage-listed country-style hotel has been offered for sale as a freehold going concern with sales campaign led by Paul Fraser from Jones Lang LaSalle Hotels and Pat O’Driscoll from Knight Frank Rockhampton &amp; Region.
The original hotel that stood on the site was built in 1859 and had three owners and three different names before it became the Commercial Hotel in 1865.
The original building was then demolished in 1897 and designed and rebuilt by Rockhampton locals JW Wilson and JK Evans featuring metal lace-work balconies and is one of only a few three-storey pubs in Queensland.
It last sold in 2005 and was renamed The Heritage Hotel after receiving renovations and modern touches.
Further renovations were undertaken in 2009.
The property is split over three levels with three bars, three function rooms, a two-bedroom manager's unit, an 80-seat restaurant and 20 accommodation rooms.
The hotel is being sold with a full commercial liquor licence and 14 electronic gaming machines.
In 1863, Rockhampton gold commissioner Thomas John Griffin shouted a round of drinks at the bar, unaware the pound note he paid with later caused him to be found guilty of murdering two police officers 10 days earlier.
The two troops were escorting £4,000 on Griffin's instruction, when he hijacked them and stole the payload.
The pound note he used at the bar was traced to the missing loot.
The Heritage Hotel is being offered for sale by way of tender closing November 22 at 4pm. 
</body></html>

ntrotman-Et3xWpamVh

Rockhampton's Heritage Hotel listed with $7 million hopes

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A Hermès pop-up store has opened in South Yarra timed to accompany Melbourne’s spring racing carnival celebrations.
Not quite the full-on orange box, it's in the Le Louvre salon in stylish <a href="/news">South Yarra</a>, which attracts Melbourne’s style seekers.
The temporary store comes with a uniquely created silk scarf, designed by Bali Barret, deputy artistic director of women’s collections at Hermès, as homage to the Ballarat dressmaker Lillian Wightman, the founder of Le Louvre.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/stories/2012/10/hermes3.jpg">
Bali Barret, created the Monsieur &amp; Madame signature Hermes scarf design, integrating the signature ocelot print of style doyenne Miss Wainwright, who died two decades ago at 90.
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Le Louvre, which offers fashion, art and design, is just off Chapel Street on Daly Street.
With its main display under its arched entrance, and two side windows, Australia's first Hermes pop-up follows similar pop-ups in Liberty of London in 2009, and then Colette in Paris.
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In June this year the famous French luxury house opened a pop-up store of 80 square metres of retail space dedicated to its shoes at 8 rue de Sèvres in the 6th arrondissement of Paris.
It was in 2010 when Le Lourve, the Collins Street landmark, set up in South Yarra, having been on the Paris end of Collins Street since the 1930s but swallowed up by a high-rise tower.
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Its owner, Georgina Weir, and her colleague Amelia Coote, the daughter of the late famous former Melbourne interior designer John Coote, worked with Domenic Ridolfi, director of Ridolfi Architects, to transform the two-storey 1920s red brick shell that had been originally used by the tramways.
The shop is bordered by the Deague family's art series hotel, The Olsen, on one side and another site where the China-based builder LYZ Property Group has its 20-level, 432-unit development site for the apartment tower called Lucia.
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Smooth as silk, South Yarra's Le Louvre salon decked out as Hermes luxury pop-up shop

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The vacancy rate on Rundle Mall, the premier pedestrian street mall in the Adelaide CBD, increased from 6.85% to 10.27% between June and September, with a Darrell Lea store among those stores that are currently standing empty.
A new report from Savills shows that there are 15 out of 146 stores now vacant on Rundle Mall compared with a vacancy street on Rundle Street of 2.88% -  the non-pedestrianised portion of the retail strip extending east - with just three out 104 stores vacant.
This was up from 1.87% in June and also the result of a retailing failure with the Mary Martin Bookshop being placed in liquidation.
Darrell Lea occupied a store at the western end of Rundle mall and closed when all Darrell Lea stores ceased trading on September 9.
The 87-square-metre space at the entrance to the mall is advertised for lease by Michael Tayler of Leedwell Property – the rental sought is not disclosed – with photographs showing the distinctive Darrell Lea signage still in place.
<img src="/images/stories/2012/11/darrelllea.jpg">
The report, compiled by Savills research analyst Hamish Johnston, lists the Darrell Lea closure as the most high-profile vacancy and also notes that number of smaller stores have also become vacant since the last quarter.
Despite the large gap in vacancy rates, Rundle Mall continues to command very high net rents (ranging from $2,000 to $3,700 per square metre) compared with Rundle Street, where rents range from $400 to $1,200 per square metre – a factor that may explain the lower vacancy rate on Rundle Street.
Rundle Mall stretches from Pulteney Street to King William Street and is anchor-tenanted by a 23,300-square-metre David Jones and a 35,000-square-metre Myer store. Rundle Street runs from East Terrace to Pulteney Steet ,with the Savills Report noting that it has "quickly established itself as a major hub for food and fashion in Adelaide" anchored by a two-level Target store, and home to numerous specialty retailers including Sass &amp; Bide, Marcs, Lisa Ho and Metalicus.
 
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The report notes that since September the development of 77-91 Rundle Mall (known as Rundle Place) has been underway and will house the flagship Harris Scarfe store when completed in late 2013. The site will be co-anchored by Coles, along with a mix of other retailers and a 500-seat food court. The new building will also house 11 storeys of office space above the four storeys of retail.
 
According to Johnston, Rundle Mall has a number of challenges to overcome, “not least the current vacancy rate” of more than 10%.
“Longer term the Adelaide City Council’s master plan for Rundle Mall is expected to make the strip a more attractive precinct for shoppers, and help draw people back into the CBD. The City Council is also carrying out streetscape works along Rundle Street, which are designed to improve pedestrian enjoyment of the strip.
“Prime retail in Adelaide has endured a particularly difficult period in recent years. A lack of growth in retail spending and a shift towards online retail has made attracting business to traditional shopping precincts challenging.
“From a national perspective it is anticipated a recent drop in the official cash rate, on the back of rate cuts earlier in the year, will stimulate retail spending in the lead up to the festive season. Longer term the Adelaide City Council’s masterplan for Rundle Mall is expected to make the strip a more attractive precinct for shoppers, and help draw people back into the CBD. The City Council is also carrying out streetscape works along Rundle Street, which are designed to improve pedestrian enjoyment of the strip,” says Johnston.
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Darrell Lea among store closures as Adelaide’s Rundle Mall vacancy rate hits double figures: Savills

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In various recent articles, I've tried to explain how Australia's underlying fundamentals are actually very solid.
And by most measures, our economy seems to be travelling at close to its full capacity.
However, the contradiction is that Australia's budget should now be running at a substantial surplus. And the reason it's not relates to a number of structural issues.
Even though the high dollar is causing problems for our manufacturers, unemployment is running at just 5.4% — less than 0.5 percentage points above what economists deemed to be "effective full employment". When it falls below 5%, this tends to put pressure on wages.
<img src="/images/stories/2012/10/langnov5.jpg" width="470">
Source: <a target="_blank" href="https://www.afr.com/">AFR</a>
Anyway, it is the feeble retail sales (through a continued high level of savings) that seem to have become the most visible sign of general consumer conservatism. And this is what's top of mind with most people.
However, in his column in Saturday's Age (pg. 11) Harold Mitchell touched on the record level of betting that had recently occurred at the Caufield Cup.
And he then asked “What does that mean when most parts of the country have been stumbling along in the doom and gloom for months?"
But there are other pointers as well
Mitchell also highlighted the record level of new-vehicle sales, along with the considerable increase in overseas travel.
Clearly, the GFC frightened most people. But maybe they have now become bored with saving and are prepared to spend once again — provided it doesn't cause them to increase their personal debt levels.
Rather cleverly, the car industry seems to have plugged into this consumer sentiment — by offering "0% finance, and five years to pay" on any new purchases.
That way, you are able to buy your new car without having to create another interest meter ticking over.
Bottom line: You are now seeing a growing number of signs that people are finally stirring from their long hibernation.
Moreover, last weekend's strong auction results (with clearance rates for Sydney at 68%, and 66% for Melbourne) have further confirmed an underlying strength within the residential property market.
Chris Lang is an advisor to commercial property investors and gives keynote speeches and regular seminars on the best way to invest in commercial property. He maintains a blog, <a href="https://bitly.com/IFf40C">his-best.biz</a>, which he updates regularly about the best way to get the most out of your commercial property investment.
 
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Australians emerging from hibernation, which will help commercial property

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The inner-west suburb of Enmore has topped the list of Sydney suburbs where it could be cheaper to buy than rent, according to latest RP Data Buy vs Rent report.
Enmore is one of 388 towns and suburbs across Australia identified where the monthly mortgage payment is typically lower than the monthly rent, a 63% increase on the previous August survey.
The report though should be seen as theoretical in nature rather than a definitive guide and to show "what impact adjustments to mortgage rates can have on housing affordability in the marketplace”.
In some of the locations highlighted as seemingly making more sense to buy than rent, like-for-like swaps might not be possible due to the savings not being evident for that type of property or there maybe a scarcity of stock at the median value.
For example, the report identifies houses in Melbourne's Docklands as offering a potential monthly savings of nearly $2,200 if a renter chose to buy with a three-year fixed-rate mortgage.
However, houses make up less than 2% of the stock of properties in Docklands, where apartments dominate and those houses that are listed for sale - mostly luxury riverfront townhouses - start at around $1.2 million rising up to $4 million, beyond the price range of most renters.
Another example would be Burswood houses, just a few kilometres from Perth. Potential monthly savings by buying instead of renting are as high as $1,500 but there are only a dozen or so Burswood houses listed for sale on <a href="https://www.realestate.com.au/buy/property-house-in-burswoo/list-1?activeSort=price-asc&amp;source=location-search" target="_blank">realestate.com.au </a>with just one priced around the median value of $668,000.
In the case of Enmore units have a median asking rent of $1,950 ($450 per week) and a median dwelling value of $284,810. It is 5.7 kilometres from the CBD.
Renters capable of raising a 10% deposit ($28,000) and qualifying for a mortgage would be able to save $432 per month on principal and interest mortgage at a discounted rate of 5.9% rising to a maximum savings of $800 per month if they took out a three-year fixed-rate home loan at 5.39%, according to RP Data calculations.
Recent sales in Enmore include this <a href="https://www.realestate.com.au/property-unit-nsw-enmore-110843159" target="_blank">one-bedroom unit on James Street,</a> which sold for $241,000 and would likely rent for around $350 per week ($1,575).  Monthly mortgage repayments on a standard principal and interest loan borrowing 90% of the purchase price would be around $1,300.
Click to enlarge
<a title="Click to enlarge" href="/images/stories/2012/10/rpnov6.gif" rel="shadowbox"><img src="/images/stories/2012/10/rpnov6thumb.gif"></a>
 
<a href="/news">Enmore </a>is one of 41 suburbs in Sydney where it is potentially cheaper to buy than rent, with the remaining 47 suburbs located in regional locations.
Another prominent Sydney inclusion is Rushcutters Bay, just three kilometres from the CBD, where renters can save as much as $673 a month if they choose buy a unit rather than rent. The median price of a unit in <a href="/news">Rushcutters Bay</a> is $330,000 with median rent at $498 per week.
The comparisons in the RP Data report are based on borrowers having a 10% deposit and taking out a loan (in the case of variable) over 30 years. It does not take into consideration what can be considerable stamp duty costs as well as associated buying costs and strata fees, where applicable. Land tax, council rates and utility bills are also not considered.
The analysis also does not take into account the potential capital gains or loss over time.
 Rental data is based on the median weekly advertised rental rate across the suburb over the past 12 months to September 2012.
Critics of the report argue it is too theoretical in nature and reflective enough of what is actually available to be purchased with money spent to rent a comparable property. The WA list is topped by <a href="/news">Ledge Point</a>, a fishing village about 105 kilometres north of Perth where the median house value is $508,000 and where potential savings for renters that choose to buy range from $3,787 to $4,446.
The other regional WA suburb in the top five are all well-known mining hotspots: <a href="/news">Port Hedland</a> houses and units, <a href="/news">South Hedland</a> and <a href="/news">Nicko</a>.
Nationally, the report identifies 388 towns and suburbs across Australia where the monthly mortgage payment is typically lower than the monthly rent, a 63% increase on the previous August survey highlighting the “dramatic impact adjustments to mortgage rates can have on housing affordability in the marketplace”.
Queensland offers the majority of suburbs and towns where it’s cheaper to buy than rent at 147; Greater Brisbane accounts for 42 suburbs, while the remaining 105 can be found in the regional areas of the state. New South Wales has 88 suburbs; 41 are in Sydney while the remaining 47 are in the regional parts of the state
According to RP Data national research director Tim Lawless, the Australian housing market experienced one of its toughest years ever during 2011 and the early months of 2012.
“With capital city dwelling values almost 6% lower than when they peaked and discounted variable mortgage rates 125 basis points lower from their 2011 peak, coupled with fixed mortgage rates more than 210 basis points lower, we may see consumers returning to the property market as they realise that residential property may not cost them that much more to own than rent.
“In some suburbs it may actually be cheaper than renting especially where we are seeing evidence of tight rental markets resulting in rental increases and lower home values. For many buyers now may be a good time to either re-enter the market or buy their first home,” he says.
The report finds that across the capital cities, it is typically apartment-style housing where renting can be more expensive than paying a mortgage as the buy-in price tends to be lower compared with weekly rents, providing a narrower gap between mortgage payments and rental payments.
“If a potential buyer was willing to pay $50 extra to pay of a mortgage in a suburb rather than rent a house or unit, the total number of areas nationally rises from 388 to 1,419, based on making interest and principal payments on a variable interest rate loan,” says Lawless.
Melbourne buyers' agent <a target="_blank" href="https://www.propertyobserver.com.au/residential/room-for-debate-is-it-really-cheaper-to-buy-than-rent-in-some-suburbs/2012110857623">Catherine Cashmore has challenged RP Data's methodology. </a>
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Enmore tops list of inner-Sydney suburbs where it’s cheaper to buy a house rather than rent: RP Data

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The prestigious residential development One Hyde Park in Knightsbridge, London, has just the six apartments left for sale in the high-profile apartment complex.
With the total sales now standing at over £1.7 billion (€2.1 billion, $2.7 billion), One Hyde Park has attracted international buyers from across the globe, from China to America, to Russia, the Middle East and Europe. There were 86 apartments in the development.
There are now 25 nationalities represented at One Hyde Park, the world's most expensive residential complex.
The last five newly completed sales in the past three months were all originating from Asia.
The latest two- and three-bedroom apartments were sold to Chinese, Taiwanese, Japanese, Thai and Malaysian buyers, with Asian buyers now accounting for over 30% of the total sales at the development to date. A four-bedroom apartment also sold to a Kazakhstan buyer this month for over £25 million, leaving fewer than seven of the high-profile apartments remaining for sale, according to Savills.
<img src="/images/stories/2012/10/onehydepark2.jpg">
Candy &amp; Candy was the development manager and interior designer for One Hyde Park gaining international recognition for its bespoke and innovative design.
Looking at the Asian buying market in Sydney, Tony Leong, who heads up the China desk at Savills NSW, commented that Asian interest in residential property within the Sydney metropolitan area was at "an all-time high."
“There are many reasons for buying in Australia but the three main profiles are the buyers who are looking for properties so that their children can study here, so they might buy a property when the child is very young with a long term view or they might buy something only for the time that their child is studying.
"There are also buyers who are looking to migrate here so they will look for a property as their home and finally there are the investors who will be buying more than one property," he says,
 
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According to research by Savills UK, Chinese and Pacific Asian buyers are now the fourth largest net purchasing group in the world, with a 31% market share in the new build sector alone.
Ned Baring, director at Savills, commented: “One Hyde Park is the ultimate address for London luxury, and it is not surprising that the last five sales have been to buyers from Asia. The appeal of London remains exceptionally strong to buyers from China and Pacific-Asia, who typically look for new build properties as reflected by their strong market share in this sector.”
The extensive amenities and facilities available exclusively to residents at One Hyde Park include a private cinema, 21-metre ozone swimming pool, entertainment room, private spa, state-of-the-art gym, golf simulator, underground valet parking, personal wine storage and squash court.
The development is owned by Project Grande (Guernsey) Limited – a joint venture consortium between Guernsey-based development company CPC Group and Waterknights (owned by the Prime Minister of Qatar, His Excellency, Sheik Hamad bin Jassim bin Jabr Al-Thani).
As well as the prime location and award-winning design, the partnership with the neighbouring Mandarin Oriental Hotel Group has appealed greatly to Asian buyers, who are familiar with the high standards and service that the Mandarin Oriental brand is famous for. Residents have access to the hotel’s unsurpassed amenities and services including 24-hour concierge and room service, housekeeping and valet services, and gourmet cuisine from Heston Blumenthal and Daniel Boulud.
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Five more sales to Asian buyers make One Hyde Park luxury Tower of Babel

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For the past four years we’ve been waiting for the property bubble to burst. To be honest, it’s been a little like waiting for the end of the world.
When I was a kid, there was a slated date for the end of the world to occur. We knew what it would look like – black thunder clouds, strong winds and then judgement day would be upon us. Depending upon your religious persuasion, a couple of things would happen on that day – you’d either be saved while non-believers everywhere perished, or the entire world would disappear in a fireball. There was also the threat of the nuclear bomb giving us incurable cancer, turning the earth to fallow pasture and causing slow and painful deaths always foreshadowing our everyday existence.
More recently, another end of the world date came and went, but the real one, sometime this December, is still before us, scaring our children and creating lively debate.
For property investors, though, we haven’t given the imminent destruction of the world a second thought, given the more dire situation surrounding the property bubble and its impending bursting. It’s consumed us and dictated our every investing move, and it seems like we are finally sick of it. Property investors have decided that enough is enough, and that if something was ever going to happen, it should have happened by now.
I’m somewhat cheered that there seems to be a renewed confidence in the market, but extremely worried, too. You see, the dodgy spruiker is back, in fine form, and investors, many with memories too short to recall the bad old days of rip-offs and questionable deals, are just begging for their money to be taken.
A recent Sun-Herald investigation established that “aggressive marketing by Heritage Financial Solutions of often overpriced and second-rate Queensland properties has left a trail of burned investors, bankruptcies and broken hearts”. This is by no means a one-off situation, and I am seeing more and more people being taken advantage of, and a return to a situation we saw in the early 90s.
The problem is this – there is no regulation to protect property investors, and therefore literally anyone can call themselves a property investment adviser and get away with it. In doing so they create around them an illusion of expertise and qualification, and usually their websites are so professionally created that this illusion appears real and legitimate.
So what is happening here? Well, it’s quite simple – the spruikers are once again convincing a whole new generation of property investors that they have only their best interests at heart and selling them deals with exceptionally poor underlying assets. And the investors, often time poor and looking for the solution to their retirement income woes, are lapping it up, neglecting due diligence and choosing to place their trust in those who have a big financial incentives to tell them what they want to hear.
 
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How can you tell if a deal is dodgy? You can’t, but here are some clues:
 
<ul>
<li>If there is a middleman between you and the supplier (excluding standard real estate sales), then there is going to be big commissions built in. While the property may be OK, the commissions usually run from around $15,000 up to $40,000. You won’t know about it, as it’s often provided as an after-sales “kick-back” and it doesn’t have to be disclosed – there is no law around property investment advice, and so no disclosure requirement. Such a big commission will, in this subdued environment, take years to recoup and put a dampener on leveraging ability. </li>
<li>If the property exists in a state other than where it is being marketed, there has to be a reason why the locals haven’t snapped up the deal.</li>
<li>If the person advising you to buy the property is also representing the seller then it is not possible for their advice to be independent – it is biased, and the deal is likely better for the marketer than it is for you.</li>
<li>If the company selling the property waxes lyrically about how you are their first concern, it’s likely to be dodgy. It’s fine to sell property as a middleman but not fine to claim that your interests are with the buyer. </li>
<li>If there is any kind of incentive scheme, such as a rent guarantee or bonus, something is likely to be up. Property that makes a viable investment can sell itself.</li>
</ul>
Now is the time to take extra care. If you’d like to invest in property, you can do so safely, but you have to have your eyes open and take responsibility for your own successes and failures. Protect yourself with the following guidelines:
<ul>
<li>Beware of property being marketed by a seminar or telemarketer – such campaigns are expensive, and these people are paid big commissions that are hard to recoup through capital appreciation. Don’t believe claims that commissions aren’t built into the price – this is simply not possible.</li>
<li>Never sign a deal on the day you see it. If an extra incentive is offered to do so, be doubly wary!</li>
<li>Always confirm the value of a property through recent sales. Only recent sales can determine the actual value.</li>
<li>Be aware that forecasts on income are based on historical figures and do not consider future supply.</li>
<li>Be extra careful of off-the-plan – especially tax advantaged ones. They are often part of a huge development which will affect future supply and impact on your yields. </li>
</ul>
Most importantly, become educated before you become an investor. Too many people decide to invest and then go looking for a property, and this is why they are so vulnerable. Get that education under your belt first and then you will know how to spot a dodgy deal at 10 paces.
Margaret Lomas is a best-selling author and writes and hosts the popular Property Success With Margaret Lomas and heads up the panel onYour Money, Your Call, both on Sky News. She is the founder of<a target="_blank" href="https://destiny.com.au/dotnetnuke/en-au/home.aspx"> Destiny</a>.
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No sign of a property bubble, but dodgy spruikers are taking advantage of investors: Margaret Lomas

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First-home buyers in Victoria who sign contracts to purchase their first homes with a 60-day settlement now stand to benefit from increased stamp duty concessions that formally begin on January 1, 2013.
Savings will range from around $2,000 to just over $3,000 depending on the value of the home they purchase.
In addition, the first-home buyers' grant of $7,000 remains in place in Victoria for both new and established first-home purchases.
Real Estate Institute of Victoria chief executive Enzo Raimondo says many first-home buyers may not realise that homes bought as of last weekend (November 3) with 60-day settlements will be eligible to benefit from the lower stamp duty because they pay stamp duty when settlement of their purchase occurs, not when they sign a contract.
“Settlement occurs on the day the balance of the purchase price is paid and the property’s title document is handed over to the buyer.
“This means that if you are buying your first home right now, you meet the eligibility criteria and your settlement date is 1 January or later, you will be eligible for the 30% discount on stamp duty.
“This is unlike the first-home buyer grant, which applies from the date the contract is signed."
From January 1 the Victorian government will increase the current 20% discount is to 30% up to a total purchase price of $600,000.
Currently a home bought by a first-home buyer price at just under $600,000 is eligible to pay stamp duty of $24,808.
This decreases to $21,701 from January 1 – a savings of $3,101.
The stamp duty cut increases to 40% on January 1, 2014 and then to 50% on September 1, 2014. 
<a target="_blank" href="https://www.sro.vic.gov.au/SRO/SROCalcs.nsf/transfer?OpenForm#calc">This calculato</a>r provided by the Victorian State Revenue Office will help first-home buyers calculate their stamp duty bill.
The first-home buyers’ grant of $7,000 remains available for all those buying their first home for $750,000 or less. The grant is paid by the state government and has no scheduled end date. 
Raimondo says other key criteria for the stamp duty cut are that the total purchase price must not be over $600,000, it must be a first home and the buyers must live in it as their primary place of residence.
 “If you are looking to purchase at the moment, it is sensible to establish your eligibility with the State Revenue Office before you commit to a purchase. The first step is to look at the information at the SRO website.
 “Overall, the cut is good news for those buying their first home and it will be worth an additional $2,377 on a home valued at $530,000. This will bring the total stamp duty cut on the median priced home from $4,754 to $7,131,” Raimondo says.
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Victorian first-home buyers increased stamp duty benefits take effect with savings of up to $3,100

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Another tranche of 7-Eleven service stations will go to auction in December this year, with 10 going to Jones Lang LaSalle auction in NSW and seven in Queensland.

The convenience store company has been selling off service stations since buying 295 company-owned or leased stations from Mobil in 2010. The 10 new properties represent the sixth tranche of this sale program in New South Wales.
Recently 10 auctioned 7-Eleven service stations sold at a September 25 auction, the third successive 7-Eleven auction with a 100% clearance rate.

The stations were in urban areas such as <a target="_blank" href="/news">Rozelle</a>, in Sydney’s inner west, along with regional areas such as <a target="_blank" href="/news">Glendale </a>in Lake Macquarie.

They had an average initial yield of 6.27%, with prices ranging from $2?million in Glendale to $4?million in <a target="_blank" href="/news">Croydon Park</a>.

They came with newly signed 15-year leases with three five-year options and annual rent increases of 4%.

This tranche will be the last 7-Eleven auction, according to Jones Lang LaSalle’s John Macree.
The 10 New South Wales listings are in <a target="_blank" href="/news">Carlton</a>, <a target="_blank" href="/news">Berkeley</a>, <a target="_blank" href="/news">Blacktown North</a>, <a target="_blank" href="/news">Haberfield</a>, <a target="_blank" href="/news">Kirrawee</a>, <a target="_blank" href="/news">McGraths Hill</a>, <a target="_blank" href="/news">Northmead</a>, <a target="_blank" href="/news">Revesby</a>, <a target="_blank" href="/news">Riverwood </a>and<a target="_blank" href="/news"> Rooty Hill</a>.  
The seven Queensland properties are in <a target="_blank" href="/news">Brisbane</a>.

“To date, we have sold over $170 million worth of 7-Eleven stores as part of a sale program by 7-Eleven Australia," says Macree. 


The recent sales came with redevelopment potential as all tanks, pumps and line work come under the responsibility of 7-Eleven. The sales come with site remediation guarantee should 7-Eleven collapse.


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