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“Minister Chanthivong and his team have shown real leadership in replacing an outdated two-year bond with cover that matches the lifespan of the buildings people are buying into.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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Australia's largest charitable group, World Vision Australia, will pay around $85 per square metre net per annum to lease a 1,250-square-metre office and warehouse facility at Croydon South in Melbourne’s eastern suburbs in a deal negotiated by Savills Australia.
The combined warehouse and office is located at the Merrindale Estate Business Park at 36 Research Drive on a 2,023-square-metre site zoned Industrial 1 with 18 on-site car spaces.
The leasing deal was brokered by Savills’ Notting Hill office executive Adrian Smith.
World Vision had taken a five-year lease with two, five-year renewal options and will move from former leased premises in Mulgrave. 
The lessor is a local private investor.
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Charity World Vision leases warehouse space in Croydon

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Three hotels straddling the glittering lights of Kings Cross have been listed for sale - the Mercure Hotel, the D*Lux and the Diamant Hotel.
Property Group Australand will again try to sell its $70 million <a target="_blank" href="https://www.realcommercial.com.au/property-hotel+leisure-nsw-potts+point-500465999">Mercure Hotel, formerly known as the Crest Hotel</a> (pictured below), near Kings Cross station.
<img src="/images/stories/2012/10/cresthotel.jpg">
The group has enlisted Jones Lang LaSalle Hotels agents Mark Durran and John Musca to sell the hotel, which includes gaming pub on the ground floor.
The building is being offered in one line or as different stratas.
The decision to sell the trophy property “in the not too distant future” was raised in Australand's July results, with the group saying the hotel was not core to its portfolio, though it was performing well.
The Crest Hotel comes with some interesting associations, including links to the recent the death of Michael McGurk.
In 2007, Australand bought the hotel for $63 million from Coogee Bay Hotel owner Chris Cheung. Cheung had bought the hotel from developers Allen Linz and Eduard Litver. After closing the sale, Australand announced plans to convert the building into a series of apartments, waiting for the market to improve.
Australand never saw those plans through, but in 2009 the group came close to selling the building for $72 million to developer Michael Sanchez, whose Benchmark Group planned to do the conversion.
Sanchez narrowly pipped the cash-strapped Michael McGurk, who desperately tried to negotiate a deal to have the syndicate he represented buy the property for $70 million. He died shortly afterwards.
Both deals eventually fell through but the conversion plans were never scrapped, with Australand coming close to developing the building 2010.
Way back in 1992, a Korean developer bought the hotel for $23.8 million.
 
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Meanwhile the nearby<a target="_blank" href="https://www.realcommercial.com.au/property-hotel+leisure-nsw-potts+point-500433575"> D*Lux Budget Hotel</a> (pictured below next to the Empire building) has been listed for sale also by Jones Lang LaSalle.
<img src="/images/stories/2012/10/dluxhotel.jpg">
Currently run as a budget hotel with beds starting from $22 a night, it is being offered as vacant possession.
At 30 Darlinghurst Road, the building is a near entreprenuer David Kingston’s significant holdings.
The hotel is currently owned by veteran Sydney property investor Millie Phillips through her company Rebenta Pty Ltd.
Phillips, a former nickel mining spruiker, owns a number of hotels and retirement homes throughout Sydney.
In 2010, Phillips started trying to find a new tenant for the property.
The property was unsuccessfully listed last year for $14 million.
Current listing agent Peter Harper declined to give a price for the property, saying it’s an expressions of interest campaign and they’ll hear from the market before they list a price.
It’s in its second week of marketing this time around, with Harper saying there has been inquires from 40 to 50 potential buyers.
He says it’s been a mixed group of potential buyers including developers, possible owner-operators, and people looking at converting.
It currently earns just under $700,000 per year.
The seven-storey building includes 60 ensuited rooms with approximately 300 beds in a dorm arrangement. It has a TV room, two lounge rooms with bathrooms, a computer room, a large kitchen and two storage rooms.
It also has two retail tenancies at 226 square metres.
 
<hr class="system-pagebreak">
 
And the <a target="_blank" href="https://www.realcommercial.com.au/property-hotel+leisure-nsw-potts+point-500471243">Diamant Hotel</a> (pictured below), on the eastern side of Darlinghurst Road, has been listed through Jones Lang LaSalle.
<img src="/images/stories/2012/10/diamant.jpg">
The four-star boutique hotel on Kings Cross Road comes with 76 guest rooms and three retail lots.
The hotel, run by 8Hotels, is being sold by by owner Arena Funds Management.
The building was originally constructed in the 1970s and was then operated as the Hyatt Kingsgate. It then became the Millennium Hotel and underwent renovation in 2007. The strata-titled building consists of the Diamant Hotel, three retail lots, 49 commercial office suites and a penthouse apartment. Arena Funds Management own just three of the stratas amounting to 4,583 square metres, all of which are offered for sale.
Its hotel runs from levels two through six while the three retail lots are on the lower ground, ground and mezzanine floors.
The three retail stratas are leased by Ginseng Baths, Hillery Group's wine bar Time to Vino, and Latitude Fitness.
The main lease is due to expire in 2019.
The group has $51 million in investment properties.
The operator recently unveiled three new apartments in the hotel, which were converted from office space on the hotel's 11th floor, with prices reportedly starting from $500 a night.
And speaking about leisure properties, two nearby brothels have been listed for sale.
<a target="_blank" href="https://www.realcommercial.com.au/property-retail-nsw-kings+cross-500070421">Studio 52</a>, on Kellett Street has been listed for sale at $2 million plus.
The 10-room brothel is licensed as a 24-hour, seven-day-a-week sex parlour.
And just next door, at <a target="_blank" href="https://www.realcommercial.com.au/property-hotel+leisure-nsw-potts+point-500126486">48 Kellett Street</a>, Moods of Sydney brothel has been listed for sale as well.
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Mercure Hotel, D*Lux Budget Hotel and Diamant Hotel listed for sale in Kings Cross

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<img src="/images/stories/2012/10/cbrelogo3.jpg">
CBRE Melbourne CBD retail specialist Zelman Ainsworth talks about the work he did on the retail leasing of the newly refurbished Hamer Hall in the Arts Centre, including concluding leases with a number of Australia’s biggest restaurateurs.
How long have you been in the industry?
Three years.
What’s happening in the area you specialise in?
I specialise in Melbourne CBD retail leasing. Retailing has generally been difficult over the last 24 months due to the competition from online retail and the newly adapted saving habits people are becoming accustom to. Although the Melbourne CBD retail market has proven to be resilient when compared to the suburban retail markets, this can be accredited to the limited retail vacancies in the Melbourne CBD and the success CBD retailers have been experiencing due to the large increase in CBD residents, office workers and visitors over the last five years.
<img style="margin: 5px; float: left;" src="/images/stories/2012/10/zelman.png">
Describe the most interesting property you have sold/leased:
I was fortunate enough to work on the retail leasing of the newly refurbished Hamer Hall in the Arts Centre. This high-profile project attracted interest from some of Australia’s biggest restaurateurs and chefs; it was a privilege to work with such great talent. We concluded a leasing deal with Frank Van Haandel for his new restaurant Trocadero and the Sydney-based Asian restaurant Sake. We will soon be announcing the last and final restaurant deal within the Hamer Hall, which will certainly be as high-profile and exciting as the first two leasing deals done.
What are the ingredients to being successful in your job?
Working hard and always be proactive, avoid taking any shortcuts and always do my absolute best. I always strive to give the best possible advice to clients. It helps to put myself in their shoes and think, 'What would I do if this was my property?'.
What aspects of your role do you enjoy the most?
Working with creative and exciting retailers and restaurateurs and getting a clear understanding of their retail requirements and then going out to the market and helping  them make the right property decisions for their business. At the same time  achieving the best possible outcome for our clients’ retail properties.
Where would invest a spare $750,000?
Use it as a down payment to buy a retail property anywhere in the Melbourne CBD.
Which football team do you support?
Collingwood (maybe next year, boys).
What’s your favourite app or techno gadget?
Google Maps.
How do you use social media?
I use <a href="https://www.propertyobserver.com.au/https://au.linkedin.com/pub/zelman-ainsworth/21/30b/154" target="_blank">LinkedIn</a>.
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In profile: CBRE's Zelman Ainsworth, Melbourne CBD retail specialist

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There are a growing number of investors using their self-managed super funds (SMSFs) to purchase fast-food outlet premises, attracted by the opportunity to earn rental yields as high as 8%.
This follows a number of recent sales of fast-food outlets, including a Red Rooster on Murray Street in Colac that sold for $1.3 million with a yield 7.16%.
Burgess Rawson agent Jamie Perlinger, who sold the property,believed that the brand name played an important part in the sale, as well as the long lease term.
“It was two things, the brand and the 15-year term,” he tells Property Observer.
Other recent fast-food outlet sales include a 440-square-metre Hungry Jack’s in Corio, Geelong, which sold at auction in August for $1.9 million with a yield of 7.83%.  The Hungry Jack’s lease runs until 2017 with multiple renewal options and brings in rent of around $153,000 per annum.
A combined Subway and KFC outlet in Riverstone, NSW, measuring 778 square metres was also sold for $1.3 million, with a yield of 6.7%. Both fast-food outlets are on long leases bringing in net income of $88,000 per annum plus GST.
Both were marketed by Burgess Rawson.
“There has been a lot interest in properties between the $1 million and $2 million price bracket. A lot of investors are after that kind of price and have been interested in investing through their self-managed super funds,” says Perlinger, who believes that yield rates of between 7% and 7.5% on these properties would remain steady over the coming months.
A combined Red Rooster and Souvlaki Hut premises is currently on the market. It is at 40 Princes Highway, in the small town of Traralgon in Victoria.
The 372-square-metre premises is leased by the fast-food chain on 10-year lease with rent of around $178,000 per annum.
Traralgon is the retail capital of the Latrobe municipality, with a trade catchment in excess of 70,000 people.
The property is for sale by private treaty, with the listing held by Raoul Holderhead and Jamie Perlinger of Burgess Rawson in conjunction with Ted Addison and Matt Addison of Addison Real Estate.
It last sold for $2.46 million in October 2010 with estimated annual rent of $200,000 – a gross yield in excess of 8%.
Another two KFC premises have been listed for sale by Burgess Rawson, the KFC in Casino in NSW's Northern Rivers region and the KFC Mona Vale. Both are on long leases and will be auctioned on October 30 through Burgess Rawson the listings agents.
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Investors have a taste for high yields, long leases and brand names of fast-foods premises

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Australia is clearly not the only country in the Asia-Pacific region where rising property prices have been linked to a possible housing bubble – and downplayed, says CommSec chief economist Craig James.
Attending a Standard &amp; Poor's (S&amp;P) briefing to analysts today in Sydney, James tweeted:
<a target="_blank" href="https://twitter.com/search?q=craigjamesoz&amp;src=typd"><img src="/images/stories/2012/10/jamestweet.jpg"></a>
Earlier CommSec tweeted that S&amp;P gave a "guardedly positive analysis of global bank system" adding that US banks are "85% through the working off problem loans".
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Tweet of the day: Hong Kong housing bubble risks downplayed by S&P, notes CommSec's Craig James

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Investment in the housing market has remained weak and at odds with housing demand fundamentals, the October minutes of the RBA monetary policy meeting have revealed.
The October 2 meeting minutes note that sentiment in the housing market is improving but also acknowledge the challenges faced by residential developers selling new houses in some areas, “given their prices relative to existing dwellings”.
At the meeting the RBA cut the cash rate by 25 basis points to 3.25%, just one rate cut off record lows.
“Dwelling investment remained at a low level in the June quarter, although there were signs of improving sentiment in the housing market more recently,” say the October minutes.
“Members noted that weak dwelling investment had been at odds with the fundamentals for housing demand, as evidenced by the relatively low vacancy rate, below-average mortgage rates and ongoing population growth.
“They observed that, in some areas, developers had difficulties selling new dwellings given their prices relative to existing dwellings." 
The RBA board also noted that the improvement in sentiment in the housing market had been accompanied by an increase in dwelling prices in recent months.
However, they also note that borrowers continue to deleverage, helped by the recent lowering of mortgage rates.
“Household credit had been growing a little more slowly than household incomes, with members discussing the desire of households to pay down their debts ahead of schedule, helped by the reductions in borrowing rates,” said the RBA.
The minutes indicate the decision to cut the cash rate was made mainly due to global concerns, with members noting that “recent indicators suggested that the pace of global growth had edged down”. The RBA says it had scope to cut rates  due to the inflation outlook being within its target range.
“At its previous meeting, the board had observed that the effects of earlier reductions in the cash rate were still working through the domestic economy, and that the outlook for inflation was consistent with the target over the next one to two years.
"Members concluded that the current assessment of the inflation outlook provided scope to adjust policy in response to the softer growth outlook. Therefore, at this meeting the Board judged that it was appropriate for the stance of monetary policy to be a little more accommodative, thereby providing some additional support to demand over the period ahead,” said the RBA board.
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Housing demand fundamentals in place but investment yet to pick up: RBA October minutes

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We’re the world’s wealthiest people, but we suffer from a poverty of optimism.
We remain a nation with its hands thrust in its pockets, neither spending nor investing. And I think I know why.
In simple terms, Australia has lost its mojo. We’re no longer the brash young over-achievers who confidently went out into the world and took on all comers.
If ever an event presented a microcosm of a nation’s demeanour and performance, it was the London Olympics. Australia, which had been a rising force in world sport at previous events, slipped back among the also-rans.
Ditto our cricket team, once feared but no longer the benchmark –smashed by the West Indies in the World Twenty20 semi-final.
We’re seeing the same loss of self-belief among mining magnates. The one thing that distinguished the big mining companies in the past was their ability to keep their focus on long-term goals and shrug off short-term aberrations like the recent dip in prices for coal and iron ore.
Many of the projects that have been earning mega export dollars recently were conceived and/or advanced in the shadows of the GFC. If their proponents had allowed short-termism to sway them, those projects might not have been started, let alone completed.
But confidence has evaporated. BHP Billiton’s recent performance resembles a colossal dummy spit, while the message from Rio Tinto vacillates in tune with short-term fluctuations in iron ore prices.
The latest survey by Credit Suisse named Australia as the wealthiest of 216 nations surveyed. Our median wealth per adult is $US193,653 and our proportion of individuals with wealth above $100,000 is eight times the world average.
You’d never know it watching average Australians going about their lives, saving, not investing, talking, not doing, following, not leading.
 
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A recent article that compared the global economy to a hospital made this comment: ''Europe's on life support, the US is in the general ward and Australia is in the ward for hypochondriacs.''
That perceptive observation may contain the best clue to our loss of mojo. Our traditional ties, economically and psychologically, have been with Europe and the US. Their economic declines have left us feeling insecure.
So despite everything in our favour – the world’s greatest wealth, the strongest economy in the Western world, low unemployment, rising incomes and attractive interest rates – we remain steadfastly pessimistic.
This has everything to do with real estate because the single biggest ingredient in a rising market is the intangible factor known as confidence. We’ve forgotten how to think and act optimistically – and our big city markets, though no longer on their knees, are barely walking.
The Perth property market speaks loudly of our malaise. If ever a market ought to be driven by self-assured citizens, it’s in Perth. WA leads the nation in every economic indicator that matters, including population growth, employment, retail spending and economic growth.
Western Australians would have to be confident, wouldn’t they? Hell, no. The consumer confidence survey by the Curtin Business Schools and the WA Chamber of Commerce found it’s fallen to its lowest level since the GFC. Little more than a third are optimistic.
Despite all the growth factors pumping through the WA economy, Perth housing prices have barely budged. Rents certainly have – the rental report for the September quarter from Australian Property Monitors recorded a 15% annual rise in the median rent for houses and 11% for units – but there’s been only the faintest glimmer of a recovery in house prices.
The answer lies in that confidence survey. It leaves me wondering: what will it take for us to feel confident again?
Terry Ryder is the founder of <a target="_blank" rel="nofollow" href="https://www.hotspotting.com.au/">hotspotting.com.au</a> and can be <a target="_blank" rel="nofollow" href="https://www.twitter.com/hotspotting">followed on Twitter</a>.
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Everything in Australia's economic favour, but our property markets still hurt by lack of confidence: Terry Ryder

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Office leasing activity in the Melbourne CBD is at lowest level in a decade, but the current vacancy rate of 6.2% is not expected to blow out, with accountants KPMG and law firm Corrs Chambers Westgarth among those seeking around 150,000 square metres of office space.
Savills recorded 190,487 square metres of space leased over the 12 months to September 2012 in central Melbourne (CBD, St Kilda Road, Southbank and Docklands) from leases greater than 1,000 square metres.
This is down 56% on the previous corresponding 12-month period and down on the five-year average of 438,495 square metres.
The hardest hit was the high-end premium office market, which experienced a total negative net absorption of 12,336 square metres for the year compared with grade A, which enjoyed a positive net absorption of 7,760 square metres and secondary grade office stock, which recorded a positive net absorption of 8,619 square metres.
This resulted an overall positive net absorption of 4,043 square metres - net absorption refers to the amount of space occupied at the end of a period of time minus the amount occupied at the beginning of that period, takes into consideration space vacated during the period.
The following graph prepared by Savills shows that the lowest vacancy rate remains for A-grade office stock (4.7% down from 5% ) while the vacancy rate for the most expensive premium grade stock has risen from 5.4% to 7.7%.
Click to enlarge
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Despite the subdued leasing activity, significant tenancy requirements remain in the market, according to Savills.
Savills head of office leasing for Victoria Nicholas Farley says it is premature to talk about a vacancy rate blowout and predictions of a significant fall in rental levels when there is a good level of tenancy requirement and enquiry levels are trending upward.
"Public requirement for CBD office space is currently well above 150,000 square metres, including Corrs Chambers Westgarth (9,000 square metres), KPMG (25,000 to 30,000 square metres), and several other well-known tenants in the market for circa 6,000-square-metre requirements.”
"Add to that the fact that enquiry from the finance and insurance sector is well above its historical average, the property and business sector has its highest enquiry level for 10 years, and while the IT and technology sector has recorded an about average requirement, in terms of what its requirements have been over the last decade, it is now trending up."
The biggest leasing deal over the year to September was Suncorp leasing 15,500 square metres of space at 530 Collins Street, Melbourne’s largest premium office building, which is owned by the GPT Wholesale Office Fund.
Net effective rents now typically ranged from $340 to $437 per square metre per annum for A-grade quality stock, and between $205 to $287 per square metre per annum for secondary-grade buildings.
Net rents for premium grade range from $440 to $675 per square metre.
According to Savills,the Melbourne CBD office market contains 3,581,940 square metres of lettable space.
Of this, over half at 2,034,886 square metres is of prime (premium and A grade) quality, 849,431 square metres is grade-B quality and the balance (697,623 square metres) grade C and grade D.
Savills also notes that foreign investors continue to be attracted to Melbourne  office investments due to a range of newly built buildings  with long leases to quality tenants and the comparable stability of the region’s economic environment.
In the last six months the most significant transactions in central Melbourne were 525 Flinders Street ($54 million, purchased by AFIAA), 501 Swanston Street ($60 million, purchased by PDG) and 150 Collins Street currently under construction ($180 million, purchased by GPT).
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Melbourne CBD office leasing activity lowest in a decade but demand for space will prevent vacancy 'blowout': Savills

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Conglomerate Wesfarmers, the owner of Coles, has engaged investment banks to review its property strategy with a view to selling the freeholds of 25 shopping centres it owns worth $700 million.
This follows its main supermarket rival Woolworths considering selling down 69 shopping centres currently held on its own balance sheet into a new $1.4 billion A-REIT.
Both moves are aimed at allowing the supermarkets to focus on their core activity of retailing.
Coles is not contemplating a similar ASX-listed structure as Woolworths, but is considering a similar model used by shopping centre landlord Centro, which added around $1.1 billion to its coffers through property investment partnerships with the Perron Group and industry superfund ISPT.
It would remain property manager of the freehold stores with investors also able to invest in new store rollouts – around 10 new stores annually, according to a report in The Australian Financial Review.
Coles is being advised by Simon Rooney, head of retail investments at Jones Lang LaSalle along with Nick Jacobson, head of real estate at Goldman Sachs, and John Perry, head of industrial and real estate at RBS.
Coles operates 744 supermarkets, 794 liquor outlets, 625 Coles Express stores and 92 hotels, but owns only a small percentage of these properties.
It leases 95% of its supermarket space.
Coles has been selling some of its smaller free-standing property holdings while properties featuring Coles as an anchor tenant have sold on strong yields.
In September, a 4,000 square metre corner bulky goods site on Ferntree Gully Road in Glen Waverley featuring a Coles Express service station sold under the hammer for $7 million through Burgess Rawson Melbourne. The site brings in annual rent of $413,000 a year, representing a gross yield of around 5.9%.
Wesfarmers has vast experience in the commercial property market growing the BWP Trust, which holds Bunnings Stores, into an externally run portfolio worth $1.3 billion. Wesfarmers has a 23% investment in the BWP Trust.
It also has experience divesting its property interests, selling a $230 million portfolio of stores to a Charter Hall Group and Telstra Super consortium.
Wesfarmers holds $2.6 billion worth of property assets on its balance sheet, according to June 30 annual accounts.
It acquired Coles in 2007, with Wesfarmers managing director Richard Goyder saying at the time it had not ruled out putting any property assets that it might inherit into a separate property trust.
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Wesfarmers considering selling off Coles freehold supermarkets to institutional investors

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Another attempted Nigerian fraud involving an absentee Perth owner has been fortuitously foiled by estate agency vigilance.
Scammers contacted Peard Real Estate North Beach to change a contact email address of the owner who was living in South Africa.
Police tracked the emails to Ghana, and the major fraud squad confirmed the scam was Nigerian.
The West Australian reports the scammers contacted the agency initially thanking it for a condition report the agent provided and to ask for a valuation on the Edgewater home.
There were phone calls that followed the initial email contact which created the suspicion, The West Australian reported.
A similar scam made headlines in 2010 when landlord Roger Mildenhall returned from South Africa to find his Karrinyup investment property had been sold.
Mildenhall lost his $485,000 home when it was sold by scammers in Nigeria.
A Ballajura family fell victim to a similar scam while living overseas about 11 months later. 
It was a brick Ballajura house located 14 kilometres north of Perth.
The owners discovered they had become victims of identity fraud perpetrated by scammers in Nigeria when they returned to Perth to inspect the property that had been sold and settled months before without their knowledge or consent.
The proceeds from the sale, almost $400,000, had been sent to a bank account in China.
In both Nigerian property scams that occurred in Perth, con artists were able to convince the agent, the settlement agent, the banks and Landgate that they were the title holders and could sell the property.
Once the transfers had occurred and the sales settled it became apparent that everyone had been duped, including the legitimate owners of the houses.
Those crimes led to fraud squad seminars to teach real estate and settlement agents how to detect and prevent similar scams, with <a target="_blank" href="https://www.propertyobserver.com.au/residential/real-estate-institutes-to-tackle-nigerian-property-scams/2011112152451">national plans </a>to combat the issue.
Consumer Protection Commissioner Anne Driscoll says the recent attempt was a reminder for all real estate and settlement agents to be meticulous with new procedures to prevent real estate fraud.
Real estate and settlement agents are now asked to follow the client identity verification and real estate fraud identification guidance notes introduced last year that involve confirming a vendor's identity and any change of contact and banking details.
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