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“Minister Chanthivong and his team have shown real leadership in replacing an outdated two-year bond with cover that matches the lifespan of the buildings people are buying into.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

Joel Robinson

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

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

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

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

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

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

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

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

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

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

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

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

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

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

Every First Home Owner Grant for new property by state

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

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

Staff Writer

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

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

alisonwarters@gmail.com

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

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

Ellen Walker

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

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

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

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The cut in official interest rates this week opened up a debate on the differences in opinion between the Treasury and Reserve Bank economists.
While the Reserve Bank was talking about economic growth as something that had been at trend, the Treasury economists – through Treasurer Wayne Swan – were talking about economic growth operating at trend.
The Reserve Bank sees a softening economy in 2013, while the Treasury is holding to an “at trend” growth figure.
While it looks as though the country’s most powerful economists are at odds, they are actually just operating to different briefs.
The Reserve Bank collects domestic and global data and forms an opinion for the medium term. It looks at Chinese manufacturing and commodity prices, and adds those against domestic measurements such as inflation, house prices and employment.
The Treasury brief is typically more focused on domestic economic data, long term trends and historic information.
Treasury plots long economic cycles while the Reserve Bank plots the smaller ups and downs that add up to a longer cycle.
The Reserve controls monetary policy – the price of (or demand for) money – and it makes its cash rate decision once a month, so it has to break down its horizons into months and quarters and price money appropriately for the forces operating in the longer cycle.
The Treasury, on the other hand, is mostly concerned with fiscal policy (collecting taxes and government spending) and economic reform. Its brief includes the phrase “whole-of-economy”.
Nevertheless, we ended up with a situation on Tuesday where the Reserve Bank was cutting official interest rates in anticipation of a slowdown in 2013 while the government was sticking to its Treasury forecast for sustained economic growth into next year.
Perhaps it would help to list the influences that the Reserve prioritises when it sets the cash rate.
In its statement on Tuesday, Reserve Bank governor Glenn Stevens started with the global economy: the soft economy of Europe, the modest improvement in the United States and the slowing pace in China.
Then he looked at commodity prices for Australian producers and the falling balance of trade. Next came the financial markets – bond yields, access to capital markets, the stock market – and mentioned that the “at trend” GDP growth was being propped up by large capital investment in our resources industry, which is expected to peak in 2013.
He added in housing markets, employment figures, and the low inflation numbers that will be threatened by the carbon tax over the next six months.
However, in the end he made the assessment that should get our attention: “on the back of international developments, the growth outlook for next year looked a little weaker…”
Which shows us that even with low inflation, moderate wages growth and good economic growth, the health of our global trading partners still affects how we price money in Australia.
The lesson is important: we operate in a global context and within economic cycles we can not influence.
Mark Bouris is executive chairman of <a href="https://www.ybr.com.au/" rel="nofollow" target="_blank">Yellow Brick Road</a>, a financial services company offering home loans, financial planning, accounting and tax, and insurance.
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mbouris-tauSvXGAM2

Are Treasury and the RBA at odds about the Australian economy?

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According to some, Australia has an (under-supplied) housing crisis and an affordability crisis. I don’t subscribe to either claim. I agree we have a crisis. A very big one. But it’s got nothing to do with undersupply or affordability. Our crisis is a financial literacy one.
Let’s get this clear: there is a big difference between general intelligence and financial intelligence. A respectable occupation, a university degree, business ownership and a six-figure salary may imply a person has above average intelligence. But these are simply the byproducts of that person using general intelligence to generate income. We all have skills, and we use them to make money. Financial intelligence, on the other hand, is more a measure of what we do with the money we make. And it’s staggering how few people truly have financial intelligence. They don’t understand the basics, such as the power of compounding and leveraging, good debt versus bad debt, and how negative gearing works. And most shocking of all: it’s because, as a nation, we don’t teach people these fundamental financial principles.
Every day, as a property investment advisor, I see the consequences of Australia failing to invest in its financial intelligence. For example, when planning and strategising an investor’s investment choices, there is a huge advantage in looking at different combinations of the best use of their available capital and cashflow. But a lot of people don’t see that a tweak to the amount of capital one way will have a very different effect on their cashflow than would a tweak to the amount of capital another way. An investor who can afford one property can afford multiple. Most property investors do little more than select a property and get a loan approved to pay for it. With greater financial literacy, they could make their money work so much harder.
The statistics are damning
According to the Australian Bureau of Statistics, only 4% of Australians aged 65 years and over are self-funded retirees. The other 96% of people rely on a taxpayer-funded pension, remain in the workforce, or are dead. These shocking statistics unequivocally confirm that Australians in general are financially illiterate.
Ask yourself these questions (and be honest):
•             Were your parents in a financial position to exit the workforce when they wanted and continue living their desired lifestyle? Have they passed these skills on to you?
•             At high school, did you study a subject about managing money, budgeting, the power of compounding and leveraging, and the importance of saving?
•             On entering the workforce, did someone explain to you basics such as how interest rates are set, the difference between good debt and bad debt, and how negative gearing works?
•             Has anyone ever sat you down and explained that your superannuation will be nowhere near enough money to comfortably retire on?
•             Do you have any idea how big your investment portfolio needs to be if you wish to live your desired lifestyle without having to work?
I’m tipping that you answered “no” to most, if not all, of these questions, and the reason is simply that there’s a yawning gap in your knowledge. You’re not alone.
Australians have above average education, are hard-working, enjoy low unemployment and earn above average incomes. So why is the self-funded retiree portion of the population barely a drop in the bucket? Because too few people understand what it takes to get there. They aren’t financially literate. And this includes many of the white-collar professionals often revered in the community. (They answered “no” to most of these questions too!)
Those who choose to invest in assets such as property because they understand and want to avoid the consequences of relying on pensions and superannuation will, generally speaking, achieve more financially than those who don’t. But we still shouldn’t kid ourselves that we are adequately educated in financial matters.
 
<hr class="system-pagebreak">
 
We can’t be trusted to invest responsibly
The underlying principle of compulsory superannuation is: We know that you need assistance, but we don’t trust you to be responsible or to make sound decisions.
A household (couple) receiving a government pension gets the grand sum of about $26,000 a year. This only permits a very modest retirement lifestyle, but the sheer volume of people depending on taxpayer-funded pensions places a massive financial burden on our growing and ageing population. In an attempt to address this burden, the Keating Labor government first introduced compulsory superannuation in 1992 by forcing employers to contribute 3% of an employee’s wage to a fund that is preserved until the employee retires. As we know, the contribution rate has progressively increased to the current 9%.
There are many advantages to compulsory superannuation, but it being set up so the funds can’t be accessed until retirement and having someone other than the recipient make the investment decisions for the funds are arguably the most compelling indicators of a frightening degree of financial illiteracy among Australians generally.
I put it to you that if, instead of increasing the employer superannuation by just 1% we invested it in financial literacy among the Australian workforce, we’d be making a much bigger dent in the burden of taxpayer-funded pensions than superannuation does.
We have to grasp ‘opportunity cost’
I find very few investors understand the concept of “opportunity cost”. While we’d prefer to be sharing our property market research with our investor clients in preparation for their next purchase, it is becoming increasingly common in this post-GFC era to need to deliver clients some bad news about the outlook for a market in which they previously invested as a DIY. We commonly see this with investors who bought a house-and-land package within a recently converted greenfield site. It’s not uncommon for the property’s current market value to be as much as $100,000 less than what they paid for it brand new only three or four years ago.
Unfortunately, not everyone can understand the benefits of disposing of one asset with a poor outlook in order to put the capital in to a different asset with a much better outlook. Opportunity lost.
 
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We have to stop blaming affordability and undersupply
I don’t agree with those who claim Australia has a housing affordability crisis. Most people have a job and a reasonable income but have never been taught how to use that income responsibly and so they go forward financially illiterate and worse off than they could be.
I think the attitude of a lot of Gen Ys should not be underestimated in the affordability debate. They seem to want the creature comforts they see others having, but aren’t prepared to make the sacrifices over time to acquire them. They want the nice car, the fancy clothes, fine dining and an inner-city apartment all by the age of 25. Then there are others who could make a few changes to boost their earning capacity, but think “w/e” is an abbreviation for “weekend”, not “work ethic”. This isn’t about affordability. This is about attitude and choice.
Then there’s the choice we all have about where we live. We shouldn’t cry poor over not being able to afford a $500,000 inner-city pad when we’ve got the choice of downgrading our “must haves” wish list, being a bit further out of town, or selecting small digs. There are locations all around the country with below average unemployment rates, a great lifestyle, and quality three-bedroom houses for around $300,000 – just like the many we invest in for clients all the time.
So affordability isn’t the issue. Undersupply isn’t the issue. Financial education is the issue! Investing as a country in our financial literacy and encouraging people to learn and apply the basics when using their income and making investment decisions would see far more people much better off and the nation less burdened over time. It’s simple maths, people!
Simon Pressley is a property investment advisor and buyers' agent for Queensland-based <a href="https://www.propertyology.com.au">Propertyology</a>.
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spressley-sBoeMhannA

Australia's property market has a financial literacy crisis, not an affordability crisis

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There was no big rush from vendors to list their properties for sale in the first month of the spring buying and selling season, according to online residential listings data compiled by SQM Research.
Total online residential listings remained steady during the month of September 2012 at 373,374, down 2.6% year-on-year.
However, the September figures suggest more active property markets in Perth, Sydney, Queensland and Darwin, where year-on-year listings are well down, while Melbourne, Adelaide and Hobart have added to the stock of properties available for purchase over the same time frame.
Perth recorded a 3% month-on-month drop in listings from 18,053 in August to 17,517 in September, followed by Sydney, where listings fell by 2.9% to 30,408.
Perth listings are down 14.6% year-on-year, while Sydney listings are down 13.1% year-on-year.
Darwin listings fell 6.6% to 1,198 in September and are down 25.9% since September 2011 – the largest yearly decrease of all capital cities, though off a low listings base.
Click to enlarge
<a href="/images/stories/2012/09/sqmoct5.gif" rel="shadowbox" title="Click to enlarge"><img src="/images/stories/2012/09/sqmoct5thumb.gif"></a>
SQM research director Louis Christopher said it was as strong result for those cities where listings declined and added that it was “unusual” for cities to record falls in listings during the opening month of spring.
“Either vendors have been withdrawing their properties at a faster rate than new listings entering into the market, or stock is being sold at a quicker rate. Or a combination of both,” said Christopher.
At the other end of the spectrum, Adelaide experienced the largest monthly increase, rising by 2.1% during September to come to a total of 17,091.
Melbourne recorded a net gain of 370 listings over September, a rise of 0.7% to take total online listings to 51,564, with listings up 3.2% over the past 12 months.
Brisbane recorded a small 0.6% gain in online listings to 28,837, but listings are down 8% year-on-year.
Hobart listings were down a modest 0.4% over September to 4,371 but the Tasmanian capital has by far the inactive or stagnant property market with online listings up 21.5% since September 2011.
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lschlesinger-FZcF9M3vE6

No big spring listings rush as stock on market hold steady in September: SQM

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A third senior financial services executive has come out to warn that lower interest rates could inflate a housing bubble in Australia following the RBA cash rate cut on Tuesday.
Phil Chronican, chief executive of ANZ Australia, 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”.
"That's been true over the past 40 or 50 years."
"I do think it's an issue that the authorities have to keep in mind over the next year or two," he added.
His comments come a day after <a href="https://www.propertyobserver.com.au/news/low-interest-rates-could-lead-to-property-bubble-future-fund/2012100356967">Barry Brakey, head of property at the The Future Fund</a>, warned property investors of the inflation caused by a lot of capital waiting to be invested directly into the Australian property market.
The Future Fund is an independently managed investment fund established in 2006 into which the Australian government deposits its budget surplus. It holds $4.95 billion in property around the world.
Patrick Winsbury, senior vice-president of Moody’s, has also expressed concerns about the effect lower interest rates may have on Australian property prices.
Winsbury said there was a key side-effect risk that lower rates could inflate a housing bubble.
"It's one of the scenarios we consider when we analyse the credit-worthiness of the banks," he said.
The cash rate is now at three-year low and just 25 basis points off record lows of 3%.
House prices rose 1.4% in September, according to RP Data-Rismark – the biggest monthly gain since March 2010, with RP Data’s national research director Tim Lawless saying he expected further capital value gains over the next few months, though not at the magnitude of the September gain.
However, not everyone agrees that lower interest rates might create a housing bubble.
AMP Capital Investors chief economist Shane Olive said yesterday that the cash rate would need to fall to 2.5% to deliver a variable mortgage rate around 6%, which would be low enough to be “stimulatory” and improve consumer and business confidence.
He says the current average variable rate of about 6.75% is only the neutral setting.
Oliver expects banks to pass on about 20 out of the 25 basis points to borrowers.
None of the major banks have made an announcement yet about interest rates.
ANZ will make its independent interest rate announcement in a week’s time (October 12).
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ANZ boss adds to growing list warning of Australian housing bubble risk

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Malaysian developer SP Setia has been offering Malaysian investors exclusive deals for Fulton Lane, Melbourne purchases.
Potential buyers at a recent showcase at the luxury Marriott Hotel in Kuala Lumpur were offered 10% interest per annum on off-the-plan deposits for the final release of apartments as well as a cash rebate of 1% of the purchase price.
The developer is also offering a “buyer get buyer special” where a buyer and a friend will be given an additional 1% cash rebate if they refer each other.
Click to enlarge
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The two-tower development consists of one,- two- and three-bedroom apartments.
On A’Beckett Street, one tower is due to rise 145.5 metres to 45 levels, while the other will be 90 metres over 29 levels.
Demolition of the site has just been completed, and construction of the project currently due to finish in 2014.
 
<hr class="system-pagebreak">
 
SP Setia says the 10% deal has never been offered before for apartments in Melbourne, although Lend Lease made a similar offer in March to buyers within its Richmond project Studio 9.
A spokesperson for SP Setia did not respond to Property Observer requests for details over the past week.
Lend Lease is offering all its buyers an annual 10% return on deposits on off-the-plan apartments in its Richmond Studio 9 development.
With Lend Lease having a completion date of late 2013, buyers are earning up to $11,000 in interest.
The limited offer led to increased buyer activity, according to Lend Lease.
“We have received a high level of positive interest from both investors and owner occupiers since launching the 10% return on deposits initiative for Studio 9 and have noticed an increase in the uptake of sales as a result of the offer,” a spokesperson says.
Apartments in the Fulton Lane development range from $360,000 to $1.35 million.
SP Setia has also promised a 6% rental guarantee.
The company bought the 4,340-square-metre former car park from businessman Solomon Lew for just over $30 million in 2010.
The 810-unit was approved by Planning Minister Matthew Guy in early 2011.
The development is named after a street that was swallowed up by an expansion of the Queen Victoria Market.
The first stage was released in mid-2011, selling 70% of the 291 apartments on offer within three days, mostly to Malaysian investors. Apartments in the larger tower were first offered late last year.
SP Setia bought a 2.2-hectare site at 557 St Kilda Road in September 2011 from Lloyd Williams’ company Hudson Conway, which is due to be redeveloped as a 23-level skyscraper.
An SP Setia spokesperson did not respond in time for publication.
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awalsh-7Ub9EypybQ

Fulton Lane Melbourne residential tower offers Malaysian buyers exclusive sweeteners

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A while ago I discovered the money secret that separates the wealthy and successful property investors from the average Australian. I found out the biggest obstacle that stopped some people becoming wealthy, and I would like to share my findings with you.
Over the last 12 years I have been conducting property seminars around Australia and south-east Asia. I have been teaching how I have grown my own very substantial property portfolio and how many of my students and our clients at Metropole had used property to develop financial independence.
Some of my seminars have lasted a few hours, others a full day and at times I conducted three- and five-day intensive workshops.
Yet the results have always been the same.
The attendees always got loads of information, tips and tricks. Some people took action after these events and got outstanding results. Yet others who sat right next to these action-takers went home and didn’t do anything different to before.
This always disappointed me, and I wondered what I could do better.
Initially I thought I had to give them more facts, additional tips or extra information.  So I packed even more into my seminars, but the results didn’t change.
What was it?
As I studied this phenomenon I came to realise that it wasn’t the quality of the information that stopped some people taking action. It was something inside them – their mindset or what I call their “financial thermostat.”
We all have a financial thermostat inside us that determines the level of wealth we are comfortable with.
What level is your financial thermostat set for?
For example, Donald Trump has his financial thermostat set to billions. Imagine if he was “only” a millionaire. He would feel poor, wouldn’t he?
Some people have their thermostat set for millions of dollars, others for thousands. The average Australian has their financial thermostat set very low.
The problem is that if your financial thermostat is set for a low level, then the way you think and the way you behave will keep you poor.
Even if you have all the information, even if you know all the steps to take, things like fear and doubt will hold you back.
We’ve all heard of people who have come into money, such as lottery winners, and lost it because they just couldn’t handle it. Your wealth usually shrinks back to the amount you can handle.
It’s been said that if you took all the money in the world and divided it equally amongst everybody, it would soon be back in the same pockets it was before. I’m sure that is correct. It is hard to keep that which has not been obtained through personal development.
What this means is that most people will never develop the wealth they truly deserve because their financial thermostat, which was programmed to a low level of wealth when they were children, holds them back.
We are not born knowing how to “do money”. We are all programmed by our parents, our teachers, our culture, our religion, our peer group.
This means that in general we have been programmed by unwealthy people.
Take a minute to think about what you were taught about money.
What did you hear from your parents about money and rich people? 
Did you hear things like: Money doesn’t grow on trees. Money is the root of all evil. Rich people are greedy and selfish. Money won’t make you happy. Money isn’t that important anyway.
Do any of those sound familiar?
What did you see at home about money when you were young?
We learn a lot about how to behave in all areas of our lives by modelling our parents. So how were your parents when it came to money?
Did they argue about money? Was one more of a saver or was one a spender and free with money? Were they good money managers or did one or both mismanage money?
It’s interesting how many of us end up becoming so much like our parents in the arena of money. Unless we were very angry as a child and then we tended to rebel and become the opposite of our parents.
How did your parents behave around money when you were young?
Your experiences around money as a child also affect how you were programmed.
Have a think about it.
Did money mean happiness or did money mean arguments when you were young? Was money ever used as a substitute for love or as a form of bribery?
For most of us the subconscious programming we received as a child was and continues to be disempowering.
 
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Your limiting wealth beliefs
These limiting wealth beliefs were instilled in us when we were children and at the time they seemed very true, but they are no longer relevant to us today.
If your experiences were like mine, the people who taught you about money – your parents, your grandparents, your teachers – had the best intentions. They wanted you to succeed financially.
Unfortunately, since they had never been taught about how money really works, all they could pass on was their own beliefs systems, often based on scarcity rather than the abundant thoughts that are necessary to feel truly wealthy.
The end result is often a raft of disempowering beliefs about money and wealth and rich people.  Beliefs that are neither true nor false, nor wrong or right. Your beliefs are your beliefs and they work at a subconscious level.
But your beliefs can be empowering or disempowering.
Most Australians will never become rich because of their beliefs.
At some level they believe that rich people and/or money are bad. Or that wealth is beyond their reach. Or that they do not deserve to become wealthy.
Then they find ways of justifying to themselves why they don’t want to become wealthy, or why they don’t deserve to become wealthy.
For things to change in your life, you must change first. You must pinpoint the negative or limiting wealth beliefs that are holding you back from reaching your true potential.
So how do you move forward?
How do you get yourself to take action? You will need to do four things:
1. Develop awareness
The first step is to evaluate your current position. How are you going financially?
Become aware of what’s good – the thoughts, actions and behaviors you want to keep and what’s bad – the things you want to change. Which of your beliefs are not working for you? What lessons about money and wealth were handed down to you many years ago, but have not been updated for your current needs.
2. Discard your non-empowering beliefs
Now that you understand that some of your beliefs about money and rich people are holding you back it’s time to discard your non-empowering beliefs.
 
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3. Develop new beliefs
You then need to adopt the belief systems of successful people. Model yourself on other successful people – people who have already achieved what you want to achieve.
For you to lose weight you would not only need to adopt the actions and behaviours of someone else who lost weight. To keep your weight off in the long term, you would also need to learn to think like a slim person thinks.
The fastest way for you to become financially successful is for you to adopt the thoughts and behaviours of people who are already financially successful. What do these people do differently? And it’s not just the steps they take; it’s what they believe and how they think about money and wealth.
4. Take action
Now it’s time to act on your new positive beliefs. It’s called be, do, have.
You become the person you want to be as soon as you start thinking and acting like that person. If you want to become wealthy, become wealthy in your mind first (be that person). Then do what wealthy people do – act wealthy. In turn, your will have what wealthy people have.
Wealth is a result…
It’s a result of your thoughts and beliefs, which lead to your actions.
It is important for us to understand that we are all fully responsible for our financial results.
If things aren’t working out the way you want them to, you need to stop taking the easy way out and blaming outside factors. It’s not your boss’s fault, nor is it the government or interest rates. It’s not even the lack of content or secrets at Michael’s seminar.
And you need to stop justifying why you are not financially successful.
Most of what you have today you have attracted by becoming the person you are today. If you want things to change in your life financially, you must change first.
The good news is that your life can change because you can change. When we throw out our blame list and start becoming more of ourselves – interestingly, everything will begin to change around us.
Michael Yardney is the director of <a target="_blank" href="https://www.metropole.com.au/">Metropole Property Investment Strategists</a>, a best-selling author and one of Australia's leading experts in wealth creation through property. He also writes the<a target="_blank" href="https://propertyupdate.com.au/category/property-investment/"> Property Investment Update blog.</a>
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You can become as wealthy as you want to be through property investment

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Kathy Lette, author of Puberty Blues, has expressed hope there may be a second series of the Channel 10 series set in the 1970s in the Sutherland Shire in Sydney.
<a target="_blank" href="https://twitter.com/KathyLette"><img src="/images/stories/2012/09/pubertytweet.jpg"></a>
It was her 1979 novel that was the basis for a highly successful TV series portraying Australian beachside culture in the 1970s.
The eight-episode ratings hit concluded this week. A second series would show the continuing relationship between Debbie Vickers, Susie Knight and the Greenhills Gang.
Meanwhile,<a target="_blank" href="https://www.propertyobserver.com.au/residential/flicker-3-got-the-right-day-but-got-the-wrong-week-14-houses-living-in-the-70s/2012091856533"> take a look at the homes found by Property Observer that are still living in the '70s.</a> They could be used as a likely locations if the recently sold Cronulla house used as the Vickers home location gets modernised by its recent buyers.
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Puberty Blues could be back for a second season after Vickers' home sells: Tweet of the day

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The Sydney unit market is heading into an upswing and is ahead of the detached housing market on the property clock, due to increased competition and tighter inner-city vacancy rates, according to PRDnationwide NSW research analyst Oded Reuveni-Etzioni.
Reuveni-Etzioni places Sydney units at 6.30 on the property clock, indicating the market is starting to rebound, with Sydney houses at 6 o’clock, indicating that the market has bottomed out.
<img src="/images/stories/2012/09/clock-generic.jpg">
<ul>
<li>At 12 o’clock the market is at its peak (demand exceeds supply)</li>
<li>At 3 o’clock the downswing has set in (an evenly supplied market)</li>
<li>By 6 o’clock it has bottomed out (an oversupplied market).</li>
<li>At 9 o’clock the market is rebounding (supply tightening)</li>
</ul>
He says that the new $15,000 first-home buyers' grant, which kicked in on October 1 and is only available to those buying or building a new home, will drive increased activity in what is already a competitive unit market in the inner city suburbs.
“Off-the-plan enquiries have slowed over the past three months but buoyancy is expected to return in October, with first home buyers taking advantage of the new first-home owner grant (new homes).
“First-home buyers are finding it increasingly difficult to compete with overseas investors for affordable product in the CBD fringe and lower north shore.
“Instead they opt for buildings located in south Sydney, St George and western Sydney.
“Second-home buyers and downsizers are using equity built in their previous property to buy units in middle and high price brackets.”
According to Reuveni-Etzioni, investors have been targeting the lower end of the market, purchasing studio and one-bedroom units, with re-sales often occurring close to the date of completion.
“The level of units advertised for sale is similar to this time last year, as new units compete with older stock for buyers.
“Overall vacancy remains tight, although anecdotal evidence points to stabilising rent prices in several inner-city locations.
“Vacancy in some middle ring suburbs has increased, with tenants moving west or away from the metropolitan region in search for lower rents,” he says.
August vacancy rate figures compiled by the Real Estate Institute of NSW  <a target="_blank" href="https://www.propertyobserver.com.au/landlords/sydney-rental-vacancy-rate-rises-to-27-in-august-with-middle-and-outer-suburbs-favouring-renters/2012091956681">show a 1.8% vacancy rate for inner Sydney </a>(where units predominate), with higher vacancy rates in the middle suburbs (3%) and outer suburbs (3.1%).
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New first-home owner grant to add momentum to Sydney unit market upswing: PRDnationwide

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There were 660 sales in Perth this week, according to the Real Estate Institute of Western Australia. This is down from 715 sales during the same week last year.
The most actively traded suburb was <a href="/news">Rockingham</a>, south of the river, which has a median house price of $375,000 and a median unit price of $289,000, according to RP Data.
<img src="/images/stories/2012/09/reiwaoct4.gif">
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Perth sales down 8% on same week last year: REIWA

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The number of dwellings approved rose 6.4% to 12,046 in August, following a fall of 21.2% in July, according to the latest ABS figures.
Most of the growth was the result of a strong pick-up in the more volatile apartment approvals sector, which rose 23.0% to 4,596 dwellings approved in August.
However, the detached housing sector remained weak with approvals for the construction of private sector houses falling 0.5% in August to 7,314 houses.
In August 2011, there were 8,275 private sector house approvals.
Private sector house approvals fell in NSW (-10.4%) and Queensland (-3.6%) but rose in Western Australia (11%), South Australia (1.4%) and Victoria (0.8%).
Dwelling approvals (combined for both houses and units) increased in Victoria (30.2%), Western Australia (16.1%) and Queensland (1.8%) but decreased in NSW (-18.3%), South Australia (-1%) and Tasmania (-0.9%) in seasonally adjusted terms.
The value of total building approved rose 9.4%, in seasonally adjusted terms, after falling for two months.
The value of residential building rose 9.2% while non-residential building rose 9.8%.
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