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“Minister Chanthivong and his team have shown real leadership in replacing an outdated two-year bond with cover that matches the lifespan of the buildings people are buying into.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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Four Queensland investors have used their self-managed super funds to buy the Springfield Marketplace Shopping Centre for $1,475,000 at a very healthy yield of 9.8%.
The sale of the 627-square-metre retail centre on a 3,235-square-metre site near Ipswich was negotiated by Knight Frank’s Andrew Burke, who says investors are keen to use their self-managed super funds to purchase such investments.
The property had previously been under offer at $1.65 million, according to a <a href="https://commercialrealestate.com.au/Property/2009810475/For-Sale/QLD/SPRINGFIELD/Retail" target="_blank">listing on commercialrealestate.com.au.</a>
Burke says that interest was “above average” because it is “hard to find something in that price range with a yield of that kind”.
“We believe the price range appealed to many self-managed super funds; disclosing the asking price allowed potential investors to instantly know if it was within their price range,” says Burke.
"Unlike some other property classes all buyers can relate to small-scale retail centres;  and finally, there was not actually a huge amount of income-generating assets on the market” he adds.
Located on 30 Commercial Drive, Springfield, the centre is 24 kilometres south-west of the Brisbane CBD.
The complex includes outlets such as Eagle Boys Pizza, Springfield Garden Restaurant, Nina’s bakery, CEBU Asian Supermarket and Salt n’ Battered.
The vendor was Itche Fa Investments.
Two weeks ago, Property Observer reported on <a href="https://www.propertyobserver.com.au/retail/suburban-shopping-centre-sales-top-%241-billion-for-year-cbre/2011091451549" target="_blank">market analysis from CBRE</a> revealing that sales of neighbourhood and sub-regional shopping centres had topped $1 billion in the past year.
A total of 38 centres have been traded this year, 37% more than in 2010, with the market sector benefitting from customers moving more towards food and service retailing.
According to Colliers, prime yields in sub-regional and neighbourhood shopping centres start from around 7% and rise up to as 10% in the secondary market.
Colliers head of national research Nerida Conisbee suggest investors consider regional shopping centres under $5 million as well as suburban strata offices.
Major property groups, including Lend Lease and Colonial First State have already started advertising investment funds specifically targeted at sub-regional and neighbourhood shopping centres.
Urbis National director of valuation Matt Cleary says, “Pricing has got back to much more in line with historical trends”. 
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Investor syndicate snaps up Queensland retail centre on near 10% yield

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Property Observer columnist Catherine Cashmore was first out the blocks to tweet about further good news for the housing market with RP Data-Rismark expecting capital city dwelling values to be up 1.4% over September.
<a href="https://twitter.com/CCASHMORE_BUYER" target="_blank"><img src="/images/stories/2012/09/cashmoretweet.jpg"></a>
Clues about what the September index will show were revealed by RP Data today.
RP Data national research director Tim Lawless says based on what happened to September 28  “dwelling values across the combined five largest capital cities of Australia are likely to increase by around 1.4% over the month of September, and the quarterly rate of growth will be around 2.0% over the quarter; that’s the strongest quarterly change since May 2010”.
The full RP Data results for September will come out at 10am on Tuesday, just a few hours before the RBA makes its October cash rate announcement at 2.30pm.
The performance of the housing market will be one key aspect of the economy that will be deliberated on by the RBA board in coming to its decision.
 
According to Lawless, the latest data “reinforces the notion that Australia’s housing market, at least at a macro level, is moving past the correction phase which saw values fall by 7.5% between the end of October 2010 and the end of May 2012”.
“The improvement in market conditions can mostly be attributed to interest rate settings and the prospect of a low interest rate environment over the medium term.
“Improving housing market conditions are likely to be front and centre on the agenda of discussion items when the Reserve Bank board meets next Tuesday.
“The Bank would be looking to avoid any further stimulation of the housing market while at the same time ensuring the interest rate setting is appropriate considering the high Australian dollar and sluggish level of consumer demand.”
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lschlesinger-FZcF9M3vE6

Conditions in housing market improving, says Catherine Cashmore: Tweet of the day

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This morning I was watching my favourite morning show while getting the kids’ breakfast sorted. I always look out for the financial overview; it’s not much, but it gives me a little something to go on through my day (that sounds a bit boring?).  But by watching this 20-second update, I can see what the share markets around the world are doing, the value of the Aussie dollar, inflation figures and gold and oil prices and occasionally they’ll touch on property.  This is when I grab the remote and turn it up. I have to say, I find the financial overview very biased, but what can a property investor do?
Today I was rewarded as I saw one of the researchers I follow, Louis Christopher of SQM, on the show. He’s pretty much on the ball in my books.  He was talking about the turn of the market that he had noticed.  He spoke about the auction clearance rates increasing and he thought the interest rate cuts were really starting to kick in.
“This is going to be an affordability driven recovery,” he said, and my ears pricked up.  I totally agreed.  When property becomes too expensive, usually in the cities, investors start to look for more affordable areas. The exact same thing happened to me about nine years ago. After buying a few negatively geared properties in Sydney I needed to find more cashflow-positive ones. I needed property that wouldn’t hinder me and that I could add a lot of value to, so I could keep buying more.
That’s when I discovered the Hunter region of NSW.
Louis went on to say that he thought that growth would occur “particularly in the outer rim in most capital cities where housing is affordable”.
The same day I took the kids into the city (school holidays!). We caught the ferry to Circular Quay then a train up town where we disembarked to have yum cha lunch with my hubby. It was a fun day and we got home and as I checked the mail, I found a letter from one of the local real estate agents.
They wanted to keep me updated of the local sales and how our suburb was performing (I guess in the hope I am blown away and want to sell up?). The letter had in big bold letters our medium price at $1.260 ,million.  It went on to tell me that there had been 52 sales in the past 12 months and this suburb’s gross yield was 4%. The 10- year (long-term) growth per annum was 4.4%.
In contrast, I thought of the Hunter suburbs Property Bloom develops in and pondered on the extreme difference.  One of the large regional towns we work in has a medium price of just $253,000 with 240 sales in the past 12 months with a gross yield of 6.7%. The 10-year (long-term) growth per annum was 12%.
You don’t need to be a rocket scientist to know which of these two suburbs would make a better investment.
I’m happy to live in the suburb we do, our house is within walking distance to the beach and a great place to bring up our kids. We have actually received awesome capital growth over the past 15 years or so.
But for an investment, I’d rather have four properties for the price of one in that Hunter region town.
My mind wandered back to Louis’s words this morning about affordability and it just rang so true to me as a property investor and developer.  I think you need to invest in areas where there is long-term growth potential but more importantly, you need to be able to hold your properties and keep moving forward.
Jo Chivers is director of <a href="https://www.propertybloom.com.au/">Property Bloom</a>, which manages property development.</body></html>

jochivers-wq5Bp59R5a

Affordability will drive a property market recovery

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Conditions are improving for first-home buyers making their initial property acquisition, according to Genworth’s September Homebuyer Confidence Index.
While the index measuring first-home buyer confidence dipped slightly by 0.5 points to 98.5 it remains above the national average for all home buyers of 98.4.
It also found that half (54%) of surveyed first-home buyers believe it is a good time to buy a home, a figure that has more than doubled in the last two years.
Genworth also recorded a drop in potential first-home buyers who were deterred from buying because they were unable to save for a deposit (down from 30% in March to 11% in September 2012) or unable to afford repayments (down from 14% in March to 5% in September 2012).
First-home buyers also appear more comfortable with saving a smaller deposit and taking on a bigger mortgage debt.
Among first-home buyer respondents to the survey, 39% say they are saving less than a 10% deposit, compared with 34% who said so in the March survey.
First-home buyer affordability expectations by state
Click to enlarge
<a title="Click to enlarge" rel="shadowbox" href="/images/stories/2012/09/genworthsept28.gif"><img src="/images/stories/2012/09/genworthsept28thumb.gif"></a>
Source: Genworth
However, the results show wide disparities in deposit comfort levels across states, reflecting different levels of affordability and sensitivity to interest rate cuts.
First-home buyers in Western Australia are most comfortable with a smaller deposit, with nearly-two thirds (64%) saving less than 10%, compared with just over a third of WA first-home buyers in the March survey.
Victorian first-home buyers are also more comfortable with a smaller deposit, with 44% saying they are comfortable with a 10% deposit.
The opposite trend was reported in NSW and Queensland. 
The report also found that the proportion of surveyed recent first-home buyers who had experienced mortgage stress in the last 12 months fell from 16% in March 2012 to 13% in September 2012.
However, the proportion expecting difficulty in the coming year rose from 16% to 18%. 
The Genworth reports also notes that changes to first-home buyer incentives offered in each state will mean this group will face different amounts of pressure in different areas in the future.
“Despite a slight fall in first-home buyer confidence, this segment of the market remains more optimistic that now is a good time to buy a home," says Genworth CEO Ellie Comerford.
“What is more heartening is that first-home buyers are increasingly confident they can save the deposit necessary to buy their first home.”
What do you think the spring 2012 property market holds for first-home buyers and others? <a target="_blank" href="http://propertyobserver.com.au/ebooks/the-spring-property-outlook-survey">Complete our five-minute survey</a> for your chance to win an iPhone 5.
 
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First-home buyers facing fewer hurdles to getting onto the property ladder: Genworth

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NRL fans will have one eye on the grand final and the other browsing new home listings this grand final weekend as the NSW government’s more generous first-home buyer scheme kicks in Monday.
From October 1 first-home buyers in NSW will be eligible for a $15,000 grant from the NSW government to build or buy a new home under the first home owner grant (new homes) scheme.
The maximum total value of the new home cannot exceed $650,000. 
An application for the grant can be made through a lender or through the NSW Office of State Revenue (OSR).
Applications made through a lender will result in the grant paid on settlement if you are buying a new house or, if you are building a new house, on the first draw down on contracts to build.
You can apply through the OSR after your new house is built or upon settlement once you are registered on title.
The eight-page application form can be downloaded from the OSR website and includes a document checklist and lodgement guide.
In addition, first-home buyers of new homes are also eligible for stamp duty concessions under the first home-new home scheme, with no duty paid on a new home with a dutiable value of $550,000 or residential land valued at $350,000. These concessions have been in place since July 1.
First-home buyers looking for a new apartment in the Sydney inner-city hotspot of <a href="/news">Waterloo</a> might consider <a target="_blank" href="https://www.divercitywaterloo.com.au/">Becton’s Divercity project</a>.
When finished, the development will have a total of 646 apartments and town homes.
Prices start from $445,000 for a one-bedroom and one-bathroom apartment, meaning potential savings on this purchase for first-home buyers of $30,515:  $15,000 (grant) + $15,515 (stamp duty saving).
Those in the market for detached home could consider <a target="_blank" href="https://www.thehermitagesydney.com.au/">Sekisui House’s the Hermitage in Gledswood Hills in Sydney’s south-west</a>. This is a master-planned community development covering 120 hectares and featuring a central three-kilometre green corridor and more than 10 kilometres of bicycle and pedestrian walkways. There is also a proposed 27-hole golf course, cafes and community facilities.
Land starts from $260,000 for a 500-square-metre lot, meaning a potential savings of $22,590:  $15,000 (grant) + $7,590 (stamp duty saving).
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Those buyers looking for a lifestyle block outside of the Sydney metropolis might consider a house-and-land package at <a target="_blank" href="https://www.stockland.com.au/residential/nsw/brooks-reach-living-at-brooks-reach.aspx">Stockland's Brooks Reach residential community</a> in Horsley, set against the backdrop of Illawarra Escarpment,
Land starts from $146,050 for a 308-square-metre lot, meaning potential savings of $18,603.50, while a house-and-land packages start from $299,000 for a three-bedroom, one-bathroom house with garage – potential savings of $23,955
The existing $7,000 first-home owner grant, available to all first-home purchases, ceases to apply where the eligible transaction is dated on or after October 1.
The new $15,000 applies to transactions dated after October 1 and is available up until December 31, 2013.  From January 1 2014 the grant will reduce to $10,000.
According to the NSW Office of State Revenue (OSR), which will administer the scheme, “a new home is a home that has not been previously occupied or sold as a place of residence, and includes a home that is a substantially renovated home and a home built to replace demolished premises”.
Substantial renovations of a building are defined as "renovations in which all, or substantially all, of a building is removed or replaced".
“The renovations may, but need not, involve the removal or replacement of foundations, external walls, interior supporting walls, floors, roof or staircases," says the OSR.
It warns that “substantial renovations do not include cosmetic work such as painting, sanding floors, replacing light fittings, or replacing curtains and carpets”.
Where applications are made for the grant new residential premises that have been created through substantial renovations of a building, the OSR will consider the application on a case-by-case basis.
 
<hr class="system-pagebreak">
There are a number of requirements that must be met by applicants, including that at least one applicant must be permanent resident or Australian citizen and each must be at least 18 years old.
Applicants may also be ineligible if they or their spouses (including de facto) have owned property in the past.
They must not have owned a residential property, jointly, separately or with some other person, in any state or territory of Australia before 1 July 2000.
In addition, on or after July 1, 2000, they must not have owned a residential property and occupied that property jointly, separately or with some other person in any state or territory of Australia for a continuous period of at least six months.
You will also be ineligible if you have received a first-home owner grant before in any state or territory.
Lastly, at least one applicant must occupy the home as their principal place of residence for a continuous period of at least six months, commencing within 12 months from the date they are registered on title if they are purchasing a new home or within 12 months of the construction completion date if they are building a home.
The total value of a new home will be calculated using the following methods:
For a contract of sale of a home, the total value is based on the greater of the following:
<ul>
<li>the consideration for the eligible transaction</li>
<li>the unencumbered value, as at the commencement date of the eligible transaction.</li>
</ul>
For a comprehensive home building contract, the total value is calculated by adding together:
<ul>
<li>the consideration for the eligible transaction, and</li>
<li>the value, at the commencement date, of the relevant interest of the land on which the home is to be built.</li>
</ul>
For a building of a home by an owner builder, the total value is calculated by adding together:
<ul>
<li>the unencumbered value of the home, at the date the transaction is completed and the value, at the date the transaction is completed, of the relevant interest in the land on which the home is built.</li>
</ul>
The value of the relevant interest in the land on which the home is to be built is the greater of the following:
<ul>
<li>the consideration paid or payable for the interest</li>
<li>the unencumbered value of the interest.</li>
</ul>
There are also restrictions around whether applicants and/or their spouses (including de facto spouses) have owned property before.
All applicants and/or their spouse/de facto have not owned a residential property, jointly, separately or with some other person, in any state or territory of Australia before July 1, 2000.
All applicants and/or their spouse/de facto have not owned on or after July 1, 2000 a residential property and occupied that property jointly, separately or with some other person in any state or territory of Australia for a continuous period of at least six months.
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Everything you need to know about the new NSW first-home buyer $15,000 grant

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The Melbourne suburb of Meadow Heights is the worst-performing suburb in the Victorian housing market over the past year, according to the latest Residex market index.
The suburb, which is 18 kilometres north of Melbourne CBD, suffered a drop of 9.7% in median house prices over the 12-month period, with the median house value now at $441,000.
In August 2011, the suburb had small gains of 0.77%, before losing 10.47% in the past year. Sales rose 3.47% in the past 12 months, with only 1,550 properties being sold.
In regards to rent, the median price rose 1.47% to a $345, equating to a median of 4.1%.
It was the hardest hit in the metropolitan suburbs, with <a href="/news">Essendon </a>hit second hardest, with house prices falling 8.44%. In <a href="/news">Brunswick </a>the median house price fell 7.69%, in <a href="/news">Fitzroy </a>it fell 5.67% and in <a href="/news">Doncaster </a>the median house price fell 5.96%.
<a href="/news">Meadow Heights</a>, which was previously known as Broadmeadows North, underwent a property boom in the late 1980s and early 1990s. Demand for new houses rose, forcing potential buyers into the outer-suburban area.
There is one shopping centre in the suburb, the Centro Meadow Heights, which has a SUPA IGA supermarket and over 25 retail outlets.
The suburb has numerous parks, the largest being the Broadmeadow Valley Park, which is filled with soccer fields and playgrounds. The Shankland Wetlands, which is home to a variety of native birds, is also in the area.
According to realestate.com.au, a very meagre 14 properties are for sale, with only 10 properties available for rent.
This <a target="_blank" href="https://www.realestate.com.au/property-unit-vic-meadow+heights-107166090.pdf?1923cc5d6f3e4c6ae4ef78ec004dab80">three-bedroom house</a> (pictured below), within walking distance to the shopping centre, was recently sold for $305,000 by Jason Real Estate Glenroy.
<img src="/images/stories/2012/09/rosedale1.jpg">
Something a little closer to the median house value, <a href="https://www.realestate.com.au/property-house-vic-meadow+heights-105826325.pdf?ab39445eec613da45104b31ed1d7b537" target="_blank">this four-bedroom house</a> (pictured below) was sold for $403,000 by YPA estate agents, with the opportunity to purchase extra land from the council to modify the barbecue area.
<img src="/images/stories/2012/09/dunkeld.jpg">
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Meadow Heights worst-performing Melbourne suburb in past year: Residex

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Headlines suggesting large numbers of Melbourne apartment projects have stalled or been abandoned over the last 18 months create a misleading picture, says property consulting group Charter Keck Cramer, as most of these projects had not even gotten off the planning drawing board, let alone to the off-the-plan marketing sales stage.
According to Charter Keck Cramer, the headlines miss the point because many of the projects that are said to have been abandoned or shelved were projects only on paper, which may have had planning approval but had not been exposed to the market via an off-the-plan sales process.
The Australian Financial Review quoted figures which claimed an average of 11 Melbourne apartment projects a month had stalled or been abandoned since the start of 2011 resulting in 213 failed projects worth a total of $1.2 billion.
Property Observer requested to see the published research but the was told it was not available "at this stage" by the real estate agency, which offers project marketing services to clients.
In the recent past, Melbourne has typically had around 300 medium and high-density projects either planned, under construction or completed, according to the research report Metropolitan Melbourne Apartment Market by Oliver Hume.
The report does not discuss abandoned or stalled projects, but has previously noted that around half were at the construction stage.
"When fully developed, they will deliver about 40,600 apartments. Of these 40,600 apartments, around 22,000 are in buildings already under construction or completed," Oliver Hume's June report says.
The report noted that a total of 27 new metropolitan Melbourne projects were released during the June quarter, containing around 2,150 units – "the lowest number of projects since records commenced".
In the corresponding quarter last year there were 38 projects released comprising 3,800 units.
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According to research by Charter Keck Cramer less than one in 10 Melbourne apartment projects have been withdrawn from the market since 2008, with the vast majority of projects now either completed, under construction or committed to be built.
Charter Keck Cramer calculates that of the 48,400 apartment releases since 2008 nearly two-thirds are either completed or under construction, with a further 6% committed and about to commence construction.
“Only 7% have been withdrawn – with a large proportion of these re-released and now proceeding to construction – with a further  14% less likely to proceed,” Charter Keck Cramer director Robert Papaleo tells Property Observer.
Click to enlarge
<a title="Click to enlarge" rel="shadowbox" href="/images/stories/2012/09/cksept28.gif"><img src="/images/stories/2012/09/cksept28thumb.gif"></a>
Source: Charter Keck Cramer
“This analysis only considers projects that have been exposed to prospective purchasers via an off-the-plan marketing phase for  individual apartments and does not include projects simply with an approved permit for apartments that have not been subject to a marketing campaign,” he adds.
The Oliver Hume research quoted by the AFR says the average size of an unsuccessful project is $5.6 million, “reflecting a large proportion of small to mid-density projects in the middle and outer suburbs which failed”.
Oliver Hume reported the highest proportion of abandoned projects in Moreland, Boroondara, Darebin, Greater Dandenong and Glen Eira.
“I suspect, as has been the case in the past, that these 'abandoned' projects include a large number of sites with historic planning approval that have not proceeded to development notwithstanding if they have been offered to the market or not.  Whilst withdrawal of projects at the planning stage is an indicator of market conditions, its importance is too often misunderstood and overstated” says Papaleo.
“The act of getting a permit is not ,of itself, a true indicator of developer intent.
“In many instances permits are sought to add value to sites, where there is no intention of them being developed.”
He added that there was also the issue around the suitability of some previous development approvals for some of sites “with respect to prevailing market conditions”
“A permit in 2010 for an ambitious scheme may have worked at that time, but if it’s put up for sale now, buyers may not wish to commit to the scheme, so it might have to be revised."
 
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He says there have been some projects that have been marketed off the plan and shelved, but most of these have been re-marketed and developed after changes have been made to the design and have ended up in the hands of a more experienced developer.
Papaleo says he is aware of several projects that were first marketed in 2007 to 2009, then pulled from the market, redesigned and relaunched and have now commenced construction following “fresh injection of equity”.
Current development sites up for sale with apartment development approval include a 5,400 square metre site at 1 Grosvenor Street, in Doncaster, with approval for 185 apartments; a 3,300-square-metre site on Albert Street in Hawthorn East with a permit for 116 apartments over seven levels and a 1,200-square-metre site on High Street Preston with approval for 85 apartments plus ground floor retail.
Recent development site sales include a $20 million purchase of a South Yarra site with a permit for 236 apartments, bought by a Shanghai-based investor, and a 197-apartment project in the CBD that sold to a Chinese developer.
Both were sold by CBRE’s Mark Wizel, who told the Australian Financial Review Asian developers were recognising that projects that did not get off the ground the first time could be bought at a discount.
Looking at the question of whether Melbourne is building too many new apartments, Papaleo says the rental market will be the key determinant with most apartments sold to investors.
He says it’s important to differentiate between purchaser-demand (mostly from investors) for off-the-plan projects versus occupancy-demand when they are completed.
“We’re in process of historical high level of supply, but have come off peak market conditions – there appears to be a looming has mistiming with respect to occupancy demand from renters .
“Where supply has been made to the market by an off-the-plan sales process it has by and largely been met by purchasers although sales activity has been deteriorating significant since early 2011.
“The bigger issue the one of occupancy demand when the current supply cycle is completed.”
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Many shelved Melbourne apartment projects only at planning stage: Charter Keck Cramer

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If an online ad is offering a rental property at a quarter of what it would normally rent for and renters aren’t allowed to inspect, then it’s probably a scam.
One prospective Sydney renter stumbled onto an online scam on the classified ad site Gumtree.
She luckily had the guile to recognise the hallmarks of a scam as soon as the scammers emailed her back.
The renter, Kieryn, then proceeded to bait the scammer to draw as much information out as possible and glean how the scam worked.
The original ad was deleted not long after.
The ad offered a Surry Hills terrace at an enticing rental price.
Kieryn contacted the so-called owners, keen for the bargain, and was told the owners were overseas and just needed someone to move in as soon as possible.
Just pay the deposit and the Nobbs Street property is yours, the scammer told Kieryn.
“Kindly note that you advised to go and view the place from around the property as this is the only form of inspection at the moment due to our absence and the keys being with us here,” the scammers wrote.
“Two weeks rental deposit of $960 or a month rent of $1,920 is required to secure the place along with a refundable bond deposit of $1,920, which is also required as fee for damages according to the rental law and all payment will be made into our Australian bank account.”
The so-called landlord said they were overseas for three years in “the U.K to resume our new assignment, which is about the HIV/AIDS reaffirm program” and they want a renter to ensure the house is “kept alive in my absence”.
This is when Kieryn knew it was a scam. They were overseas, she couldn’t inspect the property, they wanted the deposit straight away and it seemed too cheap.
But just how much cheaper than market rates was it actually?
It turns out the scammers had lifted the details of the property from <a href="https://www.realestateview.com.au/Real-Estate/29-nobbs-street-surry-hills/Property-Details-rent-residential-4249509" target="_blank">a genuine listing on realestateVIEW.com.au</a> (pictured below).
<img src="/images/stories/2012/09/nobbs.jpg">
The original listing was a four-bedroom terrace that had an asking rent of $6,546 per month for the four-bedroom, two-level terrace.
To confirm her suspicions Kieryn decided to goad the scammer to see how far they would go.
“I forgot to mention we own a small dog… If this is a problem that’s OK we can send her to a shelter or have her put down. We just really love the house more than anything,” Kieryn wrote.
“Also is there a basement? Or somewhere that can be locked from the outside and is sound proof?
While normal landlords would recognise Kieryn as likely a dud tenant, the scammers were undeterred.
“We feel you are the ideal tenant we are looking for and have approved your rental request,” the scammers replied, clearly unfazed by her odd requests.
“We are fine with you bring your dog to the house, we consider your dog as part of you cherished belongings.
“There is a basement which we used as a store but we have since been moved out everything there so you will have access to it when you move in.”
The scammers then provided their bank details, an account at Suncorp Bank, and once more requested Kieryn pay the requested amount.
 
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The exchanges went for a number of days, with Kieryn’s requests getting ever more bizarre.
“Is this basement big enough to hold say, a mattress and a few other items? For example a bucket, and a wooden box?”
The scammers persisted but eventually realised they were having their time wasted and severed all contact.
The true rental listing agent Antoni Hayek from Laing and Simmons Pyrmont says he was contacted by as many as five potential renters who had tracked down the original listing after smelling a rat.
“I’ve probably had about four or five enquiries from people asking the property but with information from the Gumtree ad."
Hayek says agents are limited in their response to scams like this.
“We sent emails to Gumtree asking them to get rid of the ad. We reported it as a scam to them.”
He recommends renters avoid sites like Gumtree when looking for a property.
“I love using Gumtree to buy stuff, but I just wouldn’t use it for something like this.”
“I’d make sure they’d met the owners and got some sort of ownership proof.”
He says renters should never pay for a property without inspecting first.
Hayek says while these scams are rare they have cropped up before.
For now, all agents can do is try and educate renters and report any scams when they hear about them, <a href="https://www.propertyobserver.com.au/news/perth-nigerian-scam-estate-agent-faces-disciplinary-action-for-lack-of-diligence-in-%24410000-sale/2012052854867" target="_blank">such as a recent rental scam in Perth</a> and a phishing scam <a href="https://www.propertyobserver.com.au/industry-news/re/max-global-online-phishing-and-rental-scams-spread-to-australia-with-pop-up-home-page-warning-for-consumers-to-be-vigilant/2012091856661" target="_blank">that targeted RE/MAX real estate agency</a>.
<a href="mailto:news@propertyobserver.com.au">Tell us if you have uncovered other rental scams.</a>
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awalsh-7Ub9EypybQ

No Nobb as Surry Hills, Sydney, online rental scammer uncovered

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6/383 Maroubra Road, Maroubra, NSW 2035
<img src="/images/stories/2012/09/maroubrard.jpg" width="470">
Currently tenanted at $500 a week to a tenant on an expired lease, this Maroubra unit was set for auction this weekend but sold on Thursday for $500,000 to an owner-occupier. The two-bedroom unit in the Aurora building is within easy walking distance of Maroubra Beach and has expansive water views.
Richardson &amp; Wrench selling agent Lloyd Allen gave pre-sale price hopes of $450,000 plus. If the buyer decides to rent it out, at its current rent it would secure a gross rental yield of 5.2%, above the indicative gross rental yield for Maroubra units, according to RP Data. The gross rental yield does not consider the costs of maintaining the property, including council rates and other fees such as water bills and managing agent fees.
<a href="https://calc.washingtonbrown.com.au/wbdcalculator/calculator.aspx?RID=HPCAZOPTTT" target="_blank">Washington Brown</a> estimates the first-year tax depreciation deduction to be $4,000 and over five years to be $9,000.
The median house price in Maroubra rose 1.4% in the past year and 27.8% in the past five years, according to RP Data.
For more information about prices and yields in <a href="/news">Maroubra, see the RP Data suburb page.</a>
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cknowlton-QnEa6ntUYP

Friday form guide: No investment yields, as Maroubra property sells to owner-occupier

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Construction projects at mining sites accounted for the largest portion of contracts won by Australia’s biggest construction firms in 2011-12, according to the latest Housing Industry Association-Cordell Construction 100 report.
The report, which profiles the largest 100 companies operating in engineering construction and non-residential building sectors, found that the total value of construction work done increased by 18.1% in 2011-12 to $155.4 billion.
Mining represented 28.3% of all contracts won over the year ($20 billion) – ahead of civil engineering contracts (25.6%, or $18 billion) and community building contracts (22%, or $15.7 billion).
Despite being the biggest supplier of contracts to construction firms, mining contracts are off their 2009-10 peak, when they accounted for more than 30% of all non-residential contracts.
The report also found that the benefits of the mining boom are not being uniformly felt across the industry, with only 29 of the 100 companies on the HIA list recorded having been awarded mining construction projects.
Unit and apartment made up 11.3% of contracts, worth just under $8 billion, and this segment and community building were the only industry sectors to record a decline in the value of work done over the year, posting a 3.5% fall, which detracted 0.4 percentage points from aggregate growth in work done.
Civil engineering construction work increased 14.6% over the year, adding 6 percentage points to overall aggregate value of work done over the year.
The value of community construction work done fell by 36.3% over the year and detracted 4.6 percentage points from aggregate growth, “partially reflecting government stimulus spending having worked its way through the system”.
“Mining and civil engineering construction posted strong results. However, other sectors were less impressive and work fell over the year in the multi-unit and community sectors. Overall, the positive influence of the mining sector outweighed the negatives,” says HIA chief economist Dr Harley Dale.
<img src="/images/stories/2012/09/hiasept281.gif">
Source: HIA
To find out what the mining boom will mean for property investors and where the investment hotspots are likely to be, sign up for <a style="font-size: 14.545454025268555px;" target="_blank" href="/news">Property Observer’s free webinar with hotspotting.com.au’s Terry Ryder on Tuesday, October 2 at 12.30pm</a> 
 
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There was only one company in the top 10 that achieved its position through involvement in only one sector. Inpex Browse only operated in mining construction and was awarded contracts for construction work valued in excess of $3.5 billion related to the development of the Ichthys Liquefied Natural Gas (LNG) Project.
This was the largest value of mining construction contracts won by any company on the list.
Downer EDI was awarded the second largest value of mining contracts, with $3.37 billion, followed by Thiess, with $3.13 billion awarded.
The report classifies mining contracts as those relating to construction undertaken on a mining site and excludes core mining activities such as drilling.
John Holland Group topped the Construction 100 with contracts for construction work worth $7.09 billion being awarded during the year, though only 15 (just over $1 billion) was mining-related work.
Click to enlarge
<a href="/images/stories/2012/09/hiasept282.gif" rel="shadowbox" title="Click to enlarge"><img src="/images/stories/2012/09/hiasept282thumb.gif"></a>
Source: HIA
To find out what the mining boom will mean for property investors and where the investment hotspots are likely to be, sign up for <a style="font-size: 14.545454025268555px;" target="_blank" href="/news">Property Observer’s free webinar with hotspotting.com.au’s Terry Ryder on Tuesday, October 2 at 12.30pm</a> 
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