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“Minister Chanthivong and his team have shown real leadership in replacing an outdated two-year bond with cover that matches the lifespan of the buildings people are buying into.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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Using median values analysis for houses rather than median prices, RP Data has been able to identify Australia’s most expensive locations for home ownership.
The data was based on RP Data’s estimates of the value of virtually every residential property across the country and then taken the middle value for each suburb. This approach yielded a much more reliable indication of what a buyer is likely to pay for the typical house within a suburb, compared with the median price, which is based on only those homes that have sold during the period.
The suburbs on the RP Data Rich List show quite a few factors in common: they tend to either be close to a CBD, close to the water, or they are houses within the suburbs that often have a heritage value and are perched on larger blocks of land. Many of the suburbs show a combination of all these factors.
A majority of Australia’s elite real estate markets are clustered around the harbourside suburbs of Sydney, with the exclusive suburb of Point Piper topping the list with a median value of $7.382 million.
Not surprisingly, based on ATO statistics, Point Piper average individual incomes are the highest in the nation, averaging just over $182,000.
Point Piper also has a very high rate of home ownership. Recent census data confirmed that there are only 148 detached houses in the suburb of Point Piper and with 57% of them owned outright.
While there are many areas on the Top 25 List, of note is the Gold Coast suburb of Main Beach, which is Queensland’s most expensive suburb for houses; a factor which is assisted by the absolute scarcity of houses compared with units in the suburb.
Interestingly, Main Beach has a mere 88 detached houses within the suburb, equating to just 5.9% of all dwellings.
Across the top 25 most expensive suburbs nationally, only three are located further than 10km from the capital city CBD, with one of the exceptions being Eagle Bay in the Margaret River region of Western Australia where the median house value is $2.86 million, and the most expensive home currently on the market is priced at $10.5 million.
Battery Point is the only suburb in Australia where it costs less than $1 million to buy into the most elite housing market. Battery Point currently has a median house value of $861,560 placing the suburb at position 365 on the Rich List.
Story continues on page 2. Please click below.
 
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The vast majority of people can’t afford to buy or, for that matter, rent in these suburbs. In fact, the population living within the most expensive 25 suburbs accounts for just 0.5% of Australia’s population.
With four consecutive months of growth now in the housing market, it is safe to say the Australian housing market has moved into a recovery phase. Sydney and Melbourne are leading the way with values up 4% respectively since the end of May.
The Reserve Bank’s October rate cut is likely to provide further stimulus to the housing market and it will be important to monitor how consumers respond to the more affordable housing environment.
The RBA will undoubtedly be aiming to find the monetary policy sweet spot that keeps a lid on housing prices while ensuring financial stability.
Click to enlarge
<a title="Click to enlarge" rel="shadowbox" href="/images/stories/2012/10/expens.gif"><img src="/images/stories/2012/10/expensthumb.gif"></a>
Tim Lawless is national research director of <a href="https://www.myrp.com.au/" target="_blank" rel="nofollow">RP Data.</a>
This article originally appeared on <a href="https://www.smartcompany.com.au/" target="_blank">SmartCompany</a>.
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tlawless-5VLUrbAk9s

Sydney still on the money on richest suburbs list: RP Data

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Harry Triguboff’s Meriton group has acquired a former industrial property in Rosebery in inner south-east Sydney with plans to build 200 apartments.
Meriton paid $21 million for the Rosebery site bringing the number of development sites acquired this year to six and the total amount spent on these sites to $200 million.
Triguboff is also tipping the cash rate to fall 125 basis points to 2%.
“They have to go down,” he says.
This year, Meriton has targeted development site acquistions within a 15 kilometre radius of the  Sydney CBD.
The six sites acquired this year have the potential for 2,000 new apartments worth $1.3 billion.
The biggest site acquired in 2012 is on Thomas Street in Chatswood on Sydney’s north shore, with approval for 547 apartments. Meriton paid $50 million for the Thomas Street car park with plans for two towers of 29 stories each, one of which will be retained by Meriton as serviced apartments – a growing part of the Meriton business.
In July, Meriton spent $48.5 million to buy the controversial Lewisham Estates development site which has amended potential for between 377 and 430 units.
Meriton has also acquired sites in Talavera Road in North Ryde (423 units), South Dowling Street, Zetland (400 units) and McEvoy Street. Waterloo (200 units)
Commenting on the Rosebery acquisition, Triguboff told The Australian it was the only area near the city that can take a large number of apartments.
"In Bondi or North Sydney, you can't get a big site - you are looking at only 100 or even 80 apartments."
Meriton already has a presence in Rosebery with its Valentino Place development on the corner of Epsom Rd and Rothschild Avenue featuring 265 apartments, completed in 2009. A one-bedroom apartment in Valentino Place with city views is available for rent at $510 per week.
Meriton is also reportedly looking at acquiring Brookfield's Sydney CBD site on the corner of Pitt Street and Bathurst Street.
Brookfield paid around $150m for the site four years ago, which has approval for a 65 storey apartment featuring 400 apartments over 65 storeys.
No deal on this acquisition has yet been reached.
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lschlesinger-FZcF9M3vE6

Harry Triguboff’s Meriton group plans 200 apartments on newly acquired Rosebery site and tips cash rate to fall to 2%

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It’s probably one of the original property investing debates – should you buy an established property or a new one?  And, as in most debates, there is no single answer.  In fact, the answer is – it depends.
Ask any property developer and you'll hear "buy only new". 
A new property comes with significant depreciation benefits, meaning that you are more likely to see a positive cashflow – a situation where the shortfall between income and expenses on a property is removed by tax benefits that exceed that shortfall. 
Of course, we should ignore the fact that of course a developer thinks new is best, and also that, depending upon whom you buy from, very often developer profit hikes your buy-in price above that which you would pay for a similar property a few years old.
The point is, you need to consider the entire argument before you decide what to buy.
New properties do carry depreciation benefits.  However, if you have ever fully read a depreciation report (and why wouldn’t you, such scintillating reading they are!), you may have noted that often the depreciation available in years two and three is higher than it was in that first year.  Why is this? Once items fall into a "low value pool", as they tend to do after a few years, you get to claim larger chunks of them in one go.   And so the argument for buying a brand-new property to improve tax benefits is actually mostly moot.
I’ve also found that often a property that is two to three years old is better value than the new one. 
It’s like that brand-new car that loses 15% of its value as you are driving it out of the show room – with a new property the premium you pay for having everything shiny and new is quickly absorbed and value is lost almost immediately. The property that is a few years old has also been run in a little, with any major issues most likely identified and fixed already.  These points have little meaning for the owner-occupier, who most likely plans to stay for years and whose asset is capital gains tax-free, but for the investor, who needs every dollar of equity to enable future leveraging, that premium can be costly in the bigger picture.
Remember, too, that the "value" of a property is determined by the recent sales in the area.  A new property is harder to value, as there is little to compare it with.  I’ve lost count of the number of times that I have seen investors buy property in massive new developments, only to find that a year later the property is worth $40,000 less. 
This loss is likely due to a combination of factors – the developer profit (and middleman commission) made it more expensive in the first place, the size of the development created a supply issue for which there was not enough demand, and the market was now undergoing its first real test – re-sales were happening and the true value was finally being realised.  Of course, where that new property is not part of an overall estate, then it’s easy to tell if it’s at market value, as it will be compared to the older properties around it.
 
<hr class="system-pagebreak">
 
Demand is a big consideration, both from purchasers and renters.  An older home situated within a swathe of brand new properties would make an unwise choice and is likely to have less demand from the available renters than a property which is more the norm for the area.  But where the area has a greater proportion of established properties and a demonstrated demand for them from renters, that "new" property might not add any bottom-line benefits to the investor, and might just cost more.  If the new property is the same price as the older property, then the newer one is the intelligent choice, as maintenance costs should be less.  However, I don’t think I’ve ever seen a new property available at the same price as an established one, so the extra that you will pay has to be considered alongside the savings you might make on maintenance.
Investors really should not be starting their search for property with a decision to go out and find only a new property, as this suggests that all they are considering is cashflow.  I’ve seen many beautiful new properties full of tax benefits being sold by middlemen on big commissions to investors who simply want to see a positive cashflow, and those investors didn’t bother to analyse the real viability of that underlying asset in investment terms.  The result is a positive cashflow property that fails to thrive and a disappointed investor who realises that you cannot retire on cashflow alone!
Rather than take part in the ‘new or old’ debate, all investors should first determine where the best area is in which to buy.  Then they should find out what type of property is most in demand there.  It’s likely that an established property, as long as it’s not too old and therefore a maintenance trap, fits the bill quite nicely and doesn’t carry the premium that a brand-new property does.  It’s also likely that, as long as it’s only a few years old, the tax benefits will be just as good anyway, the rent return the same, and the lower price will mean that great cashflows still exist and there’s profit to be made.
Margaret Lomas is a best-selling author and writes and hosts the popular Property Success With Margaret Lomas and heads up the panel on Your 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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mlomas-KC9MUPZ6Ca

Choose the best area before considering investing in a new or old property

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The Bullarto Uniting Church – forecast to fetch around $100,000 at weekend auction – fetched $115,000 when sold to a Daylesford district purchaser.
It’s a decommissioned church on a half-acre (2,023-square-metre) block 10 kilometres outside of Daylesford, Victoria, but it came with some complications.
<img src="/images/stories/2012/10/bullarto.jpg">
The <a href="https://www.propertyobserver.com.au/victoria/buyers-may-make-the-sign-of-the-cross-and-cross-their-legs-as-toilet-less-bullarto-church-goes-to-auction/2012101157105">council regulations </a> make its difficult to install a toilet on the site.
A council planner told Property Observer that as a rule of thumb, the guidelines from the EPA require a minimum of one acre (4,047 square metres) to install a septic tank system.
<img src="/images/stories/2012/10/bullarto1.jpg">
One Property Observer reader advised installing  a composting toilet.
Agent Bart O'Sullivan from Pat Rice &amp; Hawkins says it was up to buyers to make their own inquiries.
“The church can’t give any guarantees for what it can or can’t be used for,” O’Sullivan says.
<img src="/images/stories/2012/10/bullarto3.jpg">
Within 10 kilometres of both Daylesford and Trentham, the property is ideal for a tourism venture, selling agent Bart O'Sullivan of Pat Rice &amp; Hawkins Melbourne suggested.
A church has stood on the site since the late 1800s, with the offering built in 1953  by the local community, using a loan of £200 and a levy on the local potato farmers.
The building has a brick portico and a small vestry area attached with prominent exposed beams, polished floor boards, timber-lined ceiling and dado wall paneling half way up the walls.
It has a total building area of just 60 square metre on its elevated position.
There were $250,000 hopes in a previous marketing campaign.
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jchancellor-FAypfDUnLy

Bullarto Uniting Church sells at $115,000

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The latest demographic update released by the Australian Bureau of Statistics late last month  provides an overview on population growth and migration flows up to March 2012.  The data revealed the rate of population growth, at 1.49%, was the highest rate of growth since the last quarter of 2009 and net overseas migration was at the highest level in two years, with just over 197,000 net overseas migrants arriving in Australia over the twelve months to the end of March.  That’s 18% higher than what was recorded a year ago, highlighting how significantly Australia’s rate of net migration growth has turned around.
Click to enlarge
<a rel="shadowbox" href="/images/stories/2012/10/rpoct102.gif" title="Click to enlarge"><img src="/images/stories/2012/10/rpoct102thumb.gif"></a>
Every state has seen an increase in the level of overseas migration, with New South Wales and Victoria attracting the largest raw numbers.  Western Australia has seen the most significant uplift in overseas migrants, with the net number of new residents from overseas up 49% over the year to March 2012.
Click to enlarge
<a rel="shadowbox" href="/images/stories/2012/10/rpoct103.gif" title="Click to enlarge"><img src="/images/stories/2012/10/rpoct103thumb.gif"></a>
The trends in interstate migration are the most interesting, at least in my view. Phil Lowe, the deputy governor of the Reserve Bank, included a great series of graphs in his recent speech in Hobart (<a href="https://www.rba.gov.au/speeches/2012/sp-dg-091012">speech is here</a>) that makes it very easy to compare the interstate migration trends (below).
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<a rel="shadowbox" href="/images/stories/2012/10/rpoct104.gif" title="Click to enlarge"><img src="/images/stories/2012/10/rpoct104thumb.gif"></a>
 
<hr class="system-pagebreak">
 
Interestingly, Queensland has never had a net outflow of residents (and New South Wales has never had a net inflow) and the net inflow into the state is once again ramping up.  Western Australia is also seeing a strong surge in net flows of new residents over the border, a factor which is clearly being influenced by the resources sector.
Click to enlarge
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Historically, Queensland has attracted the lion’s share of interstate migrants, but since 2010 Western Australia and Queensland have been recording fairly similar numbers of net interstate migrants.
Stronger population growth is a significant factor for the housing market because it creates demand for housing.  The weakness in Tasmania’s housing market can partly be explained by the fact that the state has been seeing an exodus of residents to other states and territories that has been getting progressively worse over the past year.
Looking forward, we can expect population growth to continue to increase across Australia.  If the Department of Immigration forecasts are anything to go by (table below), we are likely to see higher levels of population growth over the coming years on the back of further overseas migration.  More information on the forecasts can be found in the latest IMMI <a href="https://www.immi.gov.au/media/publications/statistics/immigration-update/nom-jun12.pdf">Outlook for Net Overseas Migration</a>.
Click to enlarge
<a rel="shadowbox" href="/images/stories/2012/10/rpoct106.gif" title="Click to enlarge"><img src="/images/stories/2012/10/rpoct106thumb.gif"></a>
Tim Lawless is national research director of <a href="https://www.myrp.com.au/" target="_blank">RP Data.</a>
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Housing demand on the rise as population growth at highest rate in three years: Tim Lawless

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The bayside Melbourne suburb of Brighton is the most expensive suburb in Melbourne for house and unit prices, according to the Real Estate Institute of Victoria.
The median house price in Brighton is $1.64 million, up 6.8% in the September quarter. 
<table width="407" cellpadding="0" cellspacing="0" border="0">
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<col>
<col>
<col>
<col width="145">
<col>
<col>
<col>
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<tr height="42">
<td width="108" height="42">Most Expensive</td>
<td width="145">Suburb</td>
<td width="77">Sep-12 Median</td>
<td width="77">Quarterly Change</td>
</tr>
<tr height="17">
<td align="right" height="17">1</td>
<td><a target="_blank" href="/news">BRIGHTON</a></td>
<td align="right">$1,640,000</td>
<td align="right">6.80%</td>
</tr>
<tr height="17">
<td align="right" height="17">2</td>
<td><a target="_blank" href="/news">CAMBERWELL</a></td>
<td align="right">$1,368,000</td>
<td align="right">-0.70%</td>
</tr>
<tr height="17">
<td align="right" height="17">3</td>
<td><a target="_blank" href="/news">HAWTHORN</a></td>
<td align="right">$1,270,000</td>
<td align="right">-7.10%</td>
</tr>
<tr height="17">
<td align="right" height="17">4</td>
<td>KEW</td>
<td align="right">$1,250,000</td>
<td align="right">-7.30%</td>
</tr>
<tr height="17">
<td align="right" height="17">5</td>
<td><a target="_blank" href="/news">GLEN IRIS</a></td>
<td align="right">$1,150,000</td>
<td align="right">4.80%</td>
</tr>
<tr height="17">
<td align="right" height="17">6</td>
<td><a target="_blank" href="/news">BALWYN NORTH</a></td>
<td align="right">$1,050,000</td>
<td align="right">1.20%</td>
</tr>
<tr height="17">
<td align="right" height="17">7</td>
<td><a target="_blank" href="/news">PORT MELBOURNE</a></td>
<td align="right">$970,000</td>
<td align="right">4.90%</td>
</tr>
<tr height="17">
<td align="right" height="17">8</td>
<td><a target="_blank" href="/news">BRIGHTON EAST</a></td>
<td align="right">$938,750</td>
<td align="right">-8.40%</td>
</tr>
<tr height="17">
<td align="right" height="17">9</td>
<td><a target="_blank" href="/news">WILLIAMSTOWN</a></td>
<td align="right">$869,000</td>
<td align="right">-0.10%</td>
</tr>
<tr height="17">
<td align="right" height="17">10</td>
<td><a target="_blank" href="/news">ESSENDON</a></td>
<td align="right">$850,000</td>
<td align="right">-11.60%</td>
</tr>
</tbody>
</table>
Source: <a target="_blank" href="https://www.reiv.com.au/">REIV</a>
The median unit price in Brighton is $845,000. This is up 2.1% in the September quarter. 
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<col width="109">
<col>
<col>
<col>
<col width="133">
<col>
<col>
<col>
<col width="82">
<col>
<col>
<col>
<col width="75">
<col>
<col>
<col>
</colgroup>
<tbody>
<tr height="41">
<td width="109" height="41">Most Expensive</td>
<td width="133">Suburb</td>
<td width="82">Sep-12 Median</td>
<td width="75">Quarterly Change</td>
</tr>
<tr height="17">
<td align="right" height="17">1</td>
<td><a target="_blank" href="/news">BRIGHTON</a></td>
<td align="right">$845,000</td>
<td align="right">2.10%</td>
</tr>
<tr height="17">
<td align="right" height="17">2</td>
<td><a target="_blank" href="/news">PORT MELBOURNE</a></td>
<td align="right">$606,000</td>
<td align="right">-6.80%</td>
</tr>
<tr height="17">
<td align="right" height="17">3</td>
<td><a target="_blank" href="/news">BENTLEIGH EAST</a></td>
<td align="right">$585,000</td>
<td align="right">-6.80%</td>
</tr>
<tr height="17">
<td align="right" height="17">4</td>
<td><a target="_blank" href="/news">MOUNT WAVERLEY</a></td>
<td align="right">$577,000</td>
<td align="right">-0.40%</td>
</tr>
<tr height="17">
<td align="right" height="17">5</td>
<td><a target="_blank" href="/news">DONCASTER EAST</a></td>
<td align="right">$573,944</td>
<td align="right">0.70%</td>
</tr>
<tr height="17">
<td align="right" height="17">6</td>
<td><a target="_blank" href="/news">GLEN IRIS</a></td>
<td align="right">$572,500</td>
<td align="right">1.90%</td>
</tr>
<tr height="17">
<td align="right" height="17">7</td>
<td><a target="_blank" href="/news">DOCKLANDS</a></td>
<td align="right">$545,000</td>
<td align="right">-2.70%</td>
</tr>
<tr height="17">
<td align="right" height="17">8</td>
<td><a target="_blank" href="/news">ARMADALE</a></td>
<td align="right">$542,500</td>
<td align="right">-0.30%</td>
</tr>
<tr height="17">
<td align="right" height="17">9</td>
<td><a target="_blank" href="/news">ELWOOD</a></td>
<td align="right">$542,000</td>
<td align="right">7.90%</td>
</tr>
<tr height="17">
<td align="right" height="17">10</td>
<td><a target="_blank" href="/news">SOUTH YARRA</a></td>
<td align="right">$536,500</td>
<td align="right">-7.80%</td>
</tr>
</tbody>
</table>
Source: <a target="_blank" href="https://www.reiv.com.au/">REIV</a>
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Brighton the most expensive Melbourne suburb: REIV

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The suburb of Werribee is the cheapest in Melbourne for houses, according to the Real Estate Institute of Victoria.
The median house price in Werribee, about 35 kilometres west of Melbourne, is $300,000, up 4.3% in the September quarter. 
Top 10 most affordable suburbs for houses
<table width="407" cellpadding="0" cellspacing="0" border="0">
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<col width="108">
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<col width="145">
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<col width="77">
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<col width="77">
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<td width="108" height="45">Most Affordable</td>
<td width="145">Suburb</td>
<td width="77">Sep-12 Median</td>
<td width="77">Quarterly Change</td>
</tr>
<tr height="17">
<td align="right" height="17">1</td>
<td><a target="_blank" href="/news">WERRIBEE</a></td>
<td align="right">$300,000</td>
<td align="right">4.30%</td>
</tr>
<tr height="17">
<td align="right" height="17">2</td>
<td><a target="_blank" href="/news">HOPPERS CROSSING</a></td>
<td align="right">$310,000</td>
<td align="right">-2.40%</td>
</tr>
<tr height="17">
<td align="right" height="17">3</td>
<td><a target="_blank" href="/news">CRANBOURNE</a></td>
<td align="right">$320,850</td>
<td align="right">6.90%</td>
</tr>
<tr height="17">
<td align="right" height="17">4</td>
<td><a target="_blank" href="/news">PAKENHAM</a></td>
<td align="right">$331,500</td>
<td align="right">-5.30%</td>
</tr>
<tr height="17">
<td align="right" height="17">5</td>
<td><a target="_blank" href="/news">ST ALBANS</a></td>
<td align="right">$336,500</td>
<td align="right">2.60%</td>
</tr>
<tr height="17">
<td align="right" height="17">6</td>
<td><a target="_blank" href="/news">CARRUM DOWNS</a></td>
<td align="right">$340,000</td>
<td align="right">3.00%</td>
</tr>
<tr height="17">
<td align="right" height="17">7</td>
<td><a target="_blank" href="/news">FRANKSTON</a></td>
<td align="right">$341,000</td>
<td align="right">2.90%</td>
</tr>
<tr height="17">
<td align="right" height="17">8</td>
<td><a target="_blank" href="/news">TARNEIT</a></td>
<td align="right">$342,000</td>
<td align="right">-5.10%</td>
</tr>
<tr height="17">
<td align="right" height="17">9</td>
<td><a target="_blank" href="/news">SUNBURY</a></td>
<td align="right">$350,000</td>
<td align="right">-4.10%</td>
</tr>
<tr height="17">
<td align="right" height="17">10</td>
<td><a target="_blank" href="/news">CRAIGIEBURN</a></td>
<td align="right">$350,000</td>
<td align="right">1.90%</td>
</tr>
</tbody>
</table>
Source: <a target="_blank" href="https://www.reiv.com.au/">REIV</a>
The most affordable suburb in Melbourne for units is Frankston, with a median unit price of $263,000. This is down 5.7% over the September quarter. 
Top 10 most affordable suburbs for units
<table width="399" cellpadding="0" cellspacing="0" border="0">
<colgroup>
<col width="109">
<col>
<col width="133">
<col>
<col width="82">
<col>
<col width="75">
<col>
</colgroup>
<tbody>
<tr height="40">
<td width="109" height="40">Most Affordable</td>
<td width="133">Suburb</td>
<td width="82">Sep-12 Median</td>
<td width="75">Quarterly Change</td>
</tr>
<tr height="17">
<td align="right" height="17">1</td>
<td><a target="_blank" href="/news">FRANKSTON</a></td>
<td align="right">$263,000</td>
<td align="right">-5.70%</td>
</tr>
<tr height="17">
<td align="right" height="17">2</td>
<td><a target="_blank" href="/news">CARLTON</a></td>
<td align="right">$330,000</td>
<td align="right">13.80%</td>
</tr>
<tr height="17">
<td align="right" height="17">3</td>
<td><a target="_blank" href="/news">CROYDON</a></td>
<td align="right">$335,000</td>
<td align="right">-5.60%</td>
</tr>
<tr height="17">
<td align="right" height="17">4</td>
<td><a target="_blank" href="/news">RESERVOIR</a></td>
<td align="right">$350,000</td>
<td align="right">-4.90%</td>
</tr>
<tr height="17">
<td align="right" height="17">5</td>
<td><a target="_blank" href="/news">RINGWOOD</a></td>
<td align="right">$366,500</td>
<td align="right">-0.90%</td>
</tr>
<tr height="17">
<td align="right" height="17">6</td>
<td><a target="_blank" href="/news">BORONIA</a></td>
<td align="right">$368,800</td>
<td align="right">2.30%</td>
</tr>
<tr height="17">
<td align="right" height="17">7</td>
<td><a target="_blank" href="/news">MORNINGTON</a></td>
<td align="right">$405,000</td>
<td align="right">5.10%</td>
</tr>
<tr height="17">
<td align="right" height="17">8</td>
<td><a target="_blank" href="/news">CHELTENHAM</a></td>
<td align="right">$425,000</td>
<td align="right">-12.60%</td>
</tr>
<tr height="17">
<td align="right" height="17">9</td>
<td><a target="_blank" href="/news">PRAHRAN</a></td>
<td align="right">$430,000</td>
<td align="right">-11.10%</td>
</tr>
<tr height="17">
<td align="right" height="17">10</td>
<td><a target="_blank" href="/news">COBURG</a></td>
<td align="right">$431,250</td>
<td align="right">6.50%</td>
</tr>
</tbody>
</table>
Source: <a target="_blank" href="https://www.reiv.com.au/">REIV</a>
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Werribee the most affordable suburb in Melbourne for houses: REIV

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Meriton boss Harry Triguboff says Chinese buyers are retreating from the market due to the high Australian dollar and uncertainty in China as its economy cools.
Triguboff says that in the last three months Chinese buying has subsided, replaced by first-home buyers taking advantage of new state government handouts.
The remarks were reported in a column by Business Spectator’s Robert Gottliebsen following a recent “yarn” with Triguboff.
In May this year Triguboff said Chinese investors had dwindled from 70% of his market to it being a 50-50 split with local buyers.
Triguboff’s latest remarks are in stark contrast to what he told Gottliebsen in February, that the Chinese had returned to inner-city apartment buying encouraged by the high rental yields on offer.
Over the past few years, Chinese owners and investors have account for around 75% of all Meriton apartment purchases.
In July, Triguboff told SBS that Chinese believed apartments in Australia were undervalued.
“They are long-term purchasers. They are not speculators," he said.
Despite the recent drop in demand, the Chinese remain a key market for Meriton, which has a dedicated Chinese site and also offers Meriton Property Finance for offshore buyers.
Meriton Apartments builds more than 1,000 units a year – recently it has shifted its attention to serviced apartments, holding back nearly half of the apartments in its 81-storey Infinity tower in the Brisbane CBD to be offered as serviced apartments.
This year it plans to complete more than 1,500 apartments, having acquired five development in Sydney with planning approval for 2,026 units.
The biggest site is on Thomas Street in Chatswood on Sydney’s north shore, with approval for 547 apartments.
Triguboff has close ties to China.
He was born in Darien, China, in 1933 and spent his early childhood in the Russian community of Tientsin (now Tianjin) south of Beijing.
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Chinese apartment buyers retreating from Australia: Harry Triguboff

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Aussie Home Loans boss John Symond has dismissed concerns of a property bubble building in Australia and says the housing market has reached 6.30 on the property clock and is on the road to recovery.
Speaking at an Australia-Israel Chamber of Commerce function in Brisbane this week, Symond slammed the monetary policy decisions of the Reserve Bank, accusing the current board, led by RBA governor Glenn Stevens, of being “asleep at the wheel”.
“I am confident, notwithstanding a lot of hype from offshore analysts about a housing bubble, of Australia’s fundamentals,” Symond said in a speech reported by the Australian Financial Review.
Over the past few weeks newly appointed chairman of Swiss bank UBS Axel Weber has warned that Australia risked a future property bubble collapse while Patrick Winsbury, senior vice-president of Moody’s, has also expressed concerns about the effect lower interest rates could have on Australian property prices.
However, senior Australian figures have also warned of the risk of a housing bubble. They include Barry Brakey, head of property at the sovereign <a href="https://www.propertyobserver.com.au/news/low-interest-rates-could-lead-to-property-bubble-future-fund/2012100356967" target="_blank">Future Fund</a>, who said the overvaluing of Australian property was holding the fund back from investing more in Australia. <a href="https://www.propertyobserver.com.au/residential/anz-boss-adds-to-growing-list-warning-of-australian-housing-bubble-risk/2012100456996" target="_blank">Australian ANZ boss Phil Chronican</a> also told Fairfax radio station 3AW that one had to worry “when there is a lot of cheap money around that results in asset price inflation”.
Earlier this week <a href="https://www.propertyobserver.com.au/landlords/rising-rental-yields-to-draw-investors-back-into-housing-market-rba-deputy-governor-philip-lowe/2012100957062" target="_blank">RBA deputy governor Philip Lowe</a> told a Finsia seminar in Hobart that while the bank was not overly worried about relatively low interest rates reigniting a housing boom because household appetite for debt is relatively low, it would "continue to monitor the housing market closely”.
But Symond dismisses the threat of a housing bubble and says interest rates are too high.
He believes the housing market is a healthy state and the housing market has bottomed out.
 
<hr class="system-pagebreak">
 
“If anything, I am just starting to feel the property clock for housing is at half past six, or about 28 minutes past the hour,” Symond says.
Symond says demand from Asia will help underpin the value of the Australian property market
“Don’t underestimate the impact of Asians buying our residential property. They send the kids to our universities, find out it’s a great country and buy a small apartment, then buy a house,” he said.
In his attack of the RBA, Symond said Australia had had a history of having very smart Reserve Bank governors “but in the last two years, I have got to tell you, I think the Reserve Bank has been asleep at the wheel”.
“They have left interest rates comparatively high. Well for the last 12 months, blind Freddy could see inflation was not a problem, so why has the RBA been holding off?”
The remarks are curious, since Glenn Stevens has been governor of the Reserve Bank for the past six years, replacing Ian Macfarlane in September 2006.
Stevens has also been lauded for the decisive action he took during the GFC, when the RBA cut the cash rate in 100-basis-point chunks to stimulate the economy.
Last weekend London’s Sunday Times reported that Stevens was on a shortlist to be the next governor of the Bank of England.
While suggestions that Stevens would take on the UK role if offered were quickly dismissed by Australian reports as unlikely, it does show that he is held in high regard beyond Australian borders.
Stevens is one of the highest paid central bank governors in the world, earning just under a $1 million a year – more than his opposite numbers at the US Federal Reserve and the European Central Bank.
The Bank of England role pays $480,000 a year.
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Recovering housing market at 6.30 on the property clock with no risk of a housing bubble: John Symond

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The RBA cut rates by a further 25 basis points on Tuesday, October 2.
This should not have been a surprise, especially when one considers what is happening in Europe and the US and our own retail sectors, which would have to take a toll on public confidence. I would say it’s all about the rest of the world, and we needed a buffer to help us through the next few years of turmoil.
While there are encouraging signs from the US with a falling unemployment rate currently at 7.8% (first time in more than three years this has been below 8%), Europe's long-term outlook however is still bleak. I would anticipate 10 years of no growth in Europe.
The US will enter a long period of small to moderate growth as it tries to keep the economy growing (which keeps unemployment down) by the printing of money to the tune of $40 billion per month. On the other hand, the printing of money is similar to giving a drug addict heroin when what is really needed is a detox.
The USA and Europe have an ageing population and similar to Japan, which has had no growth for about 21 years, both Europe and to a lesser extent the US are compounded by record levels of debt.
China's growth has slowed to around 8% per year. As the world's baby boomers reach retirement, their spending naturally slows, which has affected demand for goods and services. China exports to the world, including the US, but the slowdown in demand from the baby boomers has affected China's economic growth. However, the demand for goods and services from their own burgeoning middle class as they become wealthier has kept the fires burning. Their desire to increase their urbanisation rate from 37.5% to those of Western nations will continue to feed the fire.
As stated above, an ageing population means spending slows, and when spending slows economic activity slows, which means higher unemployment and lower tax revenue. Japan has an extremely tight immigration policy, which means very few immigrants were allowed into the country, and the consequences to this is the older population were not being replaced by younger people.
Natural births to replace an ageing population have two disadvantages.
It generally takes 21 years of investing into a newborn before he or she is old enough to work, plus a further two years training on-the-job to attain a skill before he or she can start contributing.
This is slow and a highly costly process. Also, the number of children per household has dropped over the years. There is also no guarantee that job sectors that have skill shortages can be filled, because there is no guarantee that Australians will go into those areas even after they have attained the necessary skills, qualifications and experience.
Immigration, on the other hand, has many advantages for a young country such as ours.
It means one can select the skilled people required and only allow those who have those skills into the country in areas where we are experiencing a shortage, or restrict their entry conditions to areas that have a skill shortage. They are already trained and the training paid for by another country; they are immediately productive and can pay taxes; they also create an immediate demand for services such as homes, cars, schools, food and other services, creating economic growth and prosperity.
In Australia unlike Europe, Japan and even the US we have a robust and healthy immigration policy allowing in around 250,000 to 350,000 people annually. Our average age is 35; Europe’s is 45.
 
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Our unemployment rate is 4.8%, and this is considered full employment. Much of this can be attributed to Australians not being prepared to travel to take up jobs in mining towns and other areas that are perhaps hard to get to or other occupations that perhaps Australians are not prepared to accept. One will never achieve 0% unemployment.
Despite fears that immigrants will take Australian jobs and I have heard this statement for over 40 years, and the fact is that our long-term average unemployment rates have always sat at around 5.5%. This is considered full employment. Naturally there are times when it has hit around 10%, but it generally does not stay at that rate for very long as long as there is economic growth.
However, one must be careful and selective about immigration because it can change the nature and landscape of the country. Allowing people into a country with different values and beliefs can cause social unrest. One must balance economic wellbeing with the type of social fabric we want the country to become. That simply comes down to tighter government policies about the type and quality of people who are permitted to come into this country.
Economically there are very sound reasons for a healthy immigration policy balanced with a socially responsible selection process.
Australia does have a two-speed economy; certain industries such as mining are doing extremely well where other industries such as retail are not doing so well. With what is happening in Europe and the US, global market sentiment is a huge factor that affects our economy. This is proven true by our record savings in this country since the GFC as the general population adopted a defensive stance such as savings and paying down their debt, as opposed to an aggressive growth strategy such as leveraging through increased debt.
I believe the RBA has got it right with the recent 0.25 percentage point drop in interest rates leaving it more room to move if the world economy deteriorates further. This will give the property market a little optimism.
There is also a two-speed property market. The higher end market has continued to drop in value, but the lower end market has shown stability and in some areas has shown growth. However, when one averages all the markets together it distorts what is really happening at a micro level. One has to be much more careful and selective and do much more research to buy properties that are doing well.
Gone are the days when one could buy any property in any area and you could sit back and watch your properties grow in value.
Ed Chan is a founding partner of <a target="_blank" href="https://www.chan-naylor.com.au/">Chan &amp; Naylor</a> accountants and a leading property tax specialist. He has co-authored three best-selling books as a seasoned property investor who understands the relationship between property investment and tax.
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