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“Minister Chanthivong and his team have shown real leadership in replacing an outdated two-year bond with cover that matches the lifespan of the buildings people are buying into.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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When the Australian Bureau of Statistics recently published its Preliminary Rebased 2011 Estimated Resident Population (ERP), much of the media attention was on the 294,000-person difference in the ABS’s earlier estimates of the population (based on a 2006 census base) and the revised number based on the results of the 2011 census. This difference between the previous estimate and the new rebased number is known as the intercensal error.
However, this does not mean that the growth between 2006 and 2011 was 294,000 persons fewer than the ABS originally indicated. A change by the ABS to a more accurate methodology in undertaking its post-census survey to clarify unrecorded census data suggests that the method used in the previous census overstated the population by about 247,000 persons at the 2006 census. As a result, the actual magnitude of the intercensal error between 2006 and 2011 is likely to be much lower than that suggested by the 2006 and 2011 census counts.
For forecasters such as BIS Shrapnel, who use population growth data in estimating household formation and consequently the underlying demand for new dwellings, an accurate measure of the population is important in determining whether there is an underlying undersupply or oversupply of dwellings. This in turn drives our forecasts for new dwelling construction and prices.
At face value, the downward revision to the June 2011 population would imply much lower growth between 2006 and 2011, leading to lower demand for dwellings and therefore a lower undersupply (or higher oversupply) of dwellings. However, there is more to the numbers than meets the eye, and a description can be found in the technical notes section of the ABS’s Australian Demographic Statistics publication (Cat 3101.0).
In calculating the ERP, the ABS starts with the census count at the person’s location on census night and then places them back to their usual address. The ABS also undertakes a post-enumeration survey (PES) to determine the level at which population was missed or counted more than once. Typically, more people are missed than double counted, so this is called the undercount and is added to the population enumerated on census night.
The technical notes highlight that due to a more effective method (automated data linking or ADL) in conducting the 2011 census PES, the net undercount was 374,500 persons in the 2011 census. This compares with an undercount of 549,600 persons at the 2006 census, suggesting that the previous method overstated the undercount in the 2006 census, and by extension overstated the ERP in 2006.
A statistical impact study by the ABS took a sample of PES records of the 2011 census and processed them using the 2006 method in order to compare the impact on the undercount using the 2011 ADL method. While there were some other changes between the 2006 and 2011 census that also made a minor difference, the result suggested that the undercount measured by the 2011 ADL method was around 247,000 persons (subject to the standard error of the sample) below that using the 2006 method.
This would indicate that the impact of the new ADL method accounts for around 247,000 persons of the 294,000-person intercensal error, and that the actual intercensal error assuming a consistent PES methodology is in the order of 47,000 persons. Consequently, rather than being out by 294,000 persons in the estimate of population growth between 2006 and 2011, the error is only 47,000 persons, with the other 247,000 being accounted for by a lower actual figure in 2006 due to the overestimation of the census undercount. 
 
<hr class="system-pagebreak">
 
The chart below shows a comparison of the population growth line based on the ABS estimate of population between 2006 and 2011 before the 2011 population was rebased after the census, and population if the 2006 census population estimate was also rebased.
<img src="/images/stories/2012/09/bissept17.png" width="470">
Using a consistent PES method, the rebased population growth between 2006 and 2011 was 1.75% per annum, compared with the initially calculated growth of 1.79% per annum using the 2006 census base. This compares with the lower 1.52% per annum based on the overstated 2006 population using the previous PES method and more correct 2011 population.
As a result the much lower preliminary rebased ERP for 2011 has had limited impact on BIS Shrapnel’s calculated demand/supply balance across the states. Despite the overestimation of the population at 2006, the number of households (in our case defined as the number of occupier dwellings) was not affected as it is derived from a physical census count.
With all but 47,000 of the ABS’s estimated population growth between 2006 and 2011 still coming through, total household formation (and therefore underlying demand) will have only been slightly below that estimated due to the lower estimated population growth, with the end result being that the national deficiency at June will not be significantly lower than originally indicated.
It should also be noted that the intercensal error was concentrated in New South Wales, Victoria, Queensland and South Australia – i.e. population growth was lower than originally indicated in these states. This also suggests that population growth between 2006 and 2011 in the other states and territories was actually close to, or slightly higher than<ins cite="mailto:Martin%20Bregozzo">,</ins> that originally estimated.
With the 2011 data on population and households now available, BIS Shrapnel has re-examined the new household formation rates coming through over the 2006 to 2011 censuses. The revised household formation rates suggest that the dwelling demand/supply balance at June 2011 was similar to that outlined earlier this year in our Residential Property Prospects and Building in Australia reports, with New South Wales in deficiency (although at a lower level than originally estimated) and most other states close to balance or slight oversupply. We estimated that Victoria was also in deficiency (although declining quickly) at June 2011, although the revision indicates that the market was close to balance in 2011 and have moved into an underlying oversupply in 2011-12.
Angie Zigomanis is senior manager of <a title="BIS Shrapnel" href="https://www.bis.com.au/" target="_blank">BIS Shrapnel.</a>
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The case of the missing 294,000 missing Australians

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The wellbeing of low-income Australian households is being seriously undermined by the increasing cost of housing and electricity. Many such households are suffering from both housing stress and energy poverty.
Housing stress occurs when low-income households (the bottom 40% of households) use about a third of their income to pay for accommodation. Energy poverty, we suggest, occurs when low-income households spend 10% or more of after-tax income on household energy bills, in addition to rent or mortgage payments.
No Australian studies have examined the link between housing stress and energy poverty and its effect on wellbeing. But findings from <a target="_blank" href="https://search.informit.com.au/documentSummary;dn=656764580142785;res=IELHSS">our current research</a> suggest that they often go hand in hand, and financial hardship is an ever-present reality in the households concerned.
<h2>The extent of housing stress</h2>
The data on housing stress alone is well developed. The COAG Reform Council’s <a target="_blank" href="https://www.coagreformcouncil.gov.au/reports/housing.cfm">annual report</a> on the state of housing in Australia paints a dismal picture. In 2009-10, some 42% of low-income households in the private rental market were suffering from housing stress, up from 37% in 2007-08.
More than half of private renters in the lowest 10% of households by income were in housing stress during this period. The same report concluded that in 2009-10, some 37% of low-income households with a mortgage were also suffering from housing stress.
<h2>The extent of energy poverty</h2>
The proportion of low-income households suffering from energy poverty is less clear. What is evident is that increases in electricity prices have far outstripped inflation and wage increases.
An Australia-wide snapshot of average electricity price increases over the past five years shows that New South Wales household electricity prices rose 80%, Queensland, South Australia and Tasmania by 60%, and in Western Australia by 57%. Over the same period the <a href="https://www.propertyobserver.com.au/https://www.abs.gov.au/ausstats/abs@.nsf/mf/6401.0" target="_blank">Consumer Price Index</a> rose by 14.5%, and average weekly earnings by over a quarter.
So now an increasing number of low-income households are suffering from energy poverty.<a href="https://abs.gov.au/AUSSTATS/abs@.nsf/DetailsPage/4442.0.55.0012009-10?OpenDocument" target="_blank">Australian Bureau of Statistics</a> data show that in 2009-10, the lowest 20% of Australian households had an average weekly income of $314. Their average expenditure on household energy was 7% of disposable income – three times more than the wealthiest households. These figures don’t take account of the more recent substantial electricity price increases.
Indeed, our research signals that much higher proportions are now being paid. This partly confirms the <a href="https://www.ipart.nsw.gov.au/Home/Industries/Electricity/Reviews_All/Retail_Pricing/Changes_in_regulated_electricity_retail_prices_from_1_July_2011/14_Jun_2011_-_Final_Report/Final_Report_-_Changes_in_regulated_electricity_retail_prices_from_1_July_2011_-_June_2011" target="_blank">NSW Independent Pricing and Regulatory Tribunal’s</a> recent estimate that 5% of Sydney households, and 8% of households in country New South Wales were paying more than 10% of disposable income on electricity bills.
In Victoria, electricity and gas bills have been found to be the greatest cause of <a href="https://epubs.scu.edu.au/cgi/viewcontent.cgi?article=1111&amp;context=jesp">rental arrears</a> (63% of cases). And the ABS found nearly 40% of the two lowest household income groups were unable to pay electricity, gas or telephone bills on time during 2010.
 
<hr class="system-pagebreak">
 
<h2>The toll on wellbeing</h2>
There’s growing evidence that the combination of housing and energy stress can have serious impacts on health. Since mid-2000, the not-for-profit sector has provided snapshots of such difficulties as low-income households cut back on essentials in order to pay for electricity.
<a href="https://www.propertyobserver.com.au/https://www.abc.net.au/news/2012-06-14/energy-hike/4069678" target="_blank">The Salvation Army</a> recently found that in regional New South Wales, just over half the people are going without meals to pay for electricity. A third of these people could not afford to heat their homes.
In 2010, the <a href="https://www.wesleymission.org.au/Research/Financial_Stress/Report/Online%20report/The%20Wesley%20Report%20Oct%202010.pdf" target="_blank">Wesley Mission</a> concluded that more than two-thirds of financially stressed households were making sacrifices to meet electricity price increases, and 10% were unable to meet the cost.
Research by <a href="https://acoss.org.au/images/uploads/AJSI_Vol423.pdf" target="_blank">one of the authors</a> on older private renters under housing stress found the impact was often devastating; interviewees told of how they were unable to feed themselves adequately or replace essential items.
Social isolation was also a common problem. After paying for accommodation, electricity and telephone, there was no money left to engage in the world.
As one interviewee said, “Well, you sort of think what you can do with $2.50 [the cost of a public transport day pass]. That’s a loaf of bread type of thing.”
Besides the physical implications of inadequate nutrition, the psychological implications of housing stress and energy poverty can be profound. Many of the interviewees were plagued by constant anxiety, and depression was common. The not-for-profit sector is also reporting that these impacts of housing stress and energy poverty are becoming more widespread.
These are “real” live consequences of public policies on Australia’s 3.5 million low-income households. And they are, for the large part, being ignored by the political debate.
This article originally appeared on <a target="_blank" href="https://theconversation.edu.au/">The Conversation.</a>
Alan Morris is a senior lecturer in the school of social sciences at the <a target="_blank" href="https://www.unsw.edu.au/">University of NSW.</a>
Lynne Chester is in the department of political economy at the <a target="_blank" href="https://sydney.edu.au/">University of Sydney.</a>
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cknowlton-QnEa6ntUYP

Housing stress and energy poverty undermining the wellbeing of low-income Australian households

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Darwin is the only capital city residential property market already into its upswing, according to property valuers at Herron Todd White.
The nationwide valuation firm says Darwin is already in the upward phase of its property cycle due to a “severe shortage of available property relative to demand”, a tightening rental vacancy rate and strong demand for new houses.
Furthermore the volume of house sales is increasing as new housing is built to meet demand.
Hotspotting.com.au’s Terry Ryder picks Darwin as the<a href="https://www.propertyobserver.com.au/nothern-territory/darwin-a-standout-market-for-property-investors-terry-ryder/2012092056694" target="_blank"> standout property market for property investors</a> due to its “compelling statistics on vacancies, rents and prices”
“The Northern Territory is evolving into a gas hub of international significance… at the same time, the territory government has sought companies to build and operate a marine supply base in Darwin,” says Ryder.
In its September building industry outlook report BIS Shrapnel forecast a solid improvement in residential building activity in the NT, with a 39% jump in building commencements forecast for 2012-13.
“The strength of the local economy will see migration pick up again, with work on the Ichthys gas project expected to ramp up in 2012-13 and beyond," says BIS Shrapnel.
“Hence despite an improvement in residential building the dwelling stock deficiency is expected to persist over the forecast period.”
Herron Todd White is also bullish about the Perth and Brisbane house and unit markets, with Sydney and Melbourne considered to have bottomed out.
Perth edges Brisbane in terms of the factors required for a recovery in property prices with a tightening rental market due to a shortage of available property relative to demand and a declining trend in the construction of new houses and units.
State of the property cycle for houses
<img src="/images/stories/2012/09/htwsept24.gif">
Source: HTW
 HTW assesses the Brisbane rental market as being balanced with a steady vacancy trend, “soft” demand for new houses and units and a steady volume of sales.
Both Sydney houses and units are at the bottom of the property cycle, according to HTW.
State of the property cycle for units
<img src="/images/stories/2012/09/htwsept241.gif">
Source: HTW
The Sydney detached house market appears to have moved quickly through the property cycle, with HTW assessing this market to be at its peak at the same time last year.
In comparison, the Sydney unit market was assessed as declining in the August 2011 monthly review and has taken a year to bottom out.
All the factors favour a recovery for the Sydney property market, with a balanced rental market for houses and a shortage of units to rent, says HTW.
In addition demand for houses and units is “fair”, with the trend in new construction and volume of home sales “steady”.
HTW assesses Melbourne houses to be at the bottom of the market or just beginning their recovery, with steady rental vacancy rate favouring landlords and steady demand for new houses and existing houses.
Despite the Melbourne unit market bottoming out, HTW says the unit market is drifting towards oversupply with soft demand for new units due at the same time as supply increases.
HTW assesses Hobart, Canberra and Adelaide’s property markets to be in a downswing.
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Darwin the only housing market currently in upswing, but Brisbane and Perth recovering: HTW

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Australia is performing better than most “advanced economies” but risks to its financial stability remain due to a concentrated banking sector heavily reliant on residential mortgages and "elevated" house prices, says the International Monetary Fund (IMF).
As part of its regular (every five years) assessment of the Australian economy, the IMF says the current macroeconomic policy stance is “appropriate” and should remain “accommodative” as the first line of defence against “near-term adverse shocks”.
While it says that risks to stability are primarily external (European debt crisis, a hard landing in China, a sharp fall in commodity prices), it warns that the banking system remains “highly concentrated and interconnected”.
“The four major banks are systemic, with broadly similar business models, and their use of wholesale and offshore funding, even at reduced levels, remains a risk.
“Residential mortgages are the banks’ single largest asset but household debt is high and house prices are elevated.
“However, these are long-standing structural issues that will remain sources of risk over the medium-term, and several factors, including relatively low household leverage, mitigate this risk.”
While the IMF says stress testing indicates that the major banks are adequately capitalised and are likely to withstand large macroeconomic shocks, it says they would require “RBA liquidity support to withstand an extreme funding shock”.
“The sector faces the prospect of slower credit growth as businesses and households continue to deleverage, and could take on riskier strategies in an effort to return to pre-crisis credit growth rates and maintain profitability.
“To further bolster financial system stability against these risks, we recommend that the authorities continue to emphasize intensive bank supervision and introduce higher loss absorbency for systemically important banks.”
The IMF warns of the potential impact of a “hard landing in China” being reduce demand for Australian mineral exports, worsening terms of trade, reduced household income, which it says could trigger a fall in house prices.
“This could in turn weaken consumer demand and growth, and negatively affect banks’ balance sheets. However, we consider this type of risk escalation to be a relatively low probability event.”
The IMF reassures that Australian authorities have the monetary and fiscal policy space to respond to near-term shocks, “with monetary policy serving as the first line of defence”
“The Reserve Bank of Australia (RBA) has the scope to lower interest rates and loosen monetary conditions to help buffer against a downside scenario.”
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Big four banks reliance on mortgages and 'elevated; house prices a risk: IMF

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Two Chinese companies have struck a $68.5 million deal with Sunland Group for the world’s first fashion house-branded hotel, Palazzo Versace.
<img src="/images/stories/2012/08/palazzo1.jpg">
Property Observer reported three weeks ago that offshore<a target="_blank" href="https://www.propertyobserver.com.au/leisure/chinese-investors-eyeing-up-sunland-s-%2460-million-plus-palazzo-versace-on-gold-coast/2012082956306"> Chinese investors were eyeing up the hote</a>l, with the market tipping $60 million plus.
 The Chinese investors include a construction group and a travel company, but the $68.5 million deal is awaiting approval by the Foreign Investment Review Board.
<img src="/images/stories/2012/08/palazzo2.jpg">
 The deal comes with a twist, as the Chinese pair will have the ability to turn out more Versace-branded hotels if approved by the Versace powerhouse and the FIRB.


<hr class="system-pagebreak">
<img src="/images/stories/2012/08/palazzoversace.jpg">
The Gold Coast offering ranked as the world’s first fashion house-branded hotel in 2000.
Marketing for the hotel began back in April by Sam and Dan McVay of McVay Real Estate, where the hotel was first expected to sell close to $80 million.
<img src="/images/stories/palazzov.jpg">
 Upon approval of the sale, the proceeds will first pay off a debt of $27.4 million on the property.
 The hotel is being sold by property developer Sunland in order to reinvest in other projects.
<img src="/images/stories/2012/08/palazzo3.jpg">
 “Palazzo Versace was very significant in the history of Sunland,”Sunland Group managing director Sahbah Abedian told the Gold Coast Bulletin.
 “Our strategy has always been threefold, to continue to consolidate our capital management through our share buyback program, to maintain a conservative balance sheet and to organically create our portfolio.”
 “This allows us to have no debt at all on our balance sheet and to look to further acquisitions,” says Abedian.
 The official announcement suggested settlement of the sale was anticipated for November 30.
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ntrotman-Et3xWpamVh

Chinese buyers await FIRB approval to secure Palazzo Versace

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Where we are in the property cycle and what’s ahead for our real estate markets?  That’s one of the most common question I’ve been asked lately.
My many years as a property investor have taught me not to try too try too hard to predict our markets year by year, but instead to take a long-term view, then allow for cycles around this long-term trend and be prepared for uncertainty, surprises and the unexpected.
However, today I’ll share with you where I see some of our major property markets sitting on the proverbial “property clock”. 
Firstly some context:
Of course there’s not one property market in Australia. Each state is at its own stage of the property cycle, and each has multiple markets segmented geographically, by type of property and by price point.
Apartments are performing better than houses, luxury homes are not performing as well as median-priced properties, and regional properties are in general underperforming capital city dwellings. 
However, there are opportunities in every market.
Remember, you are not buying “the market.” As a strategic investor you would be buying an individual property in that market that you would be happy to hold in your portfolio in the long term and one that was bought sufficiently below intrinsic value so that even if the market fell a bit further, you would still have bought well. 
So let’s look at what’s happening around the Australian property markets.
 
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Sydney While the overall market in Sydney has been flat over the last year, with median house prices down by around 1%, there's growing confidence in the harbour city.
After languishing for some years, the top end of the market is showing early signs of increasing demand, especially in the eastern and lower north shore suburbs.
While there is also increasing demand for houses in the middle and lower end of the market, over the last few years Sydney’s apartment market has outperformed the housing market, with stronger rental and capital growth.
A good example of this is the strong demand from owner-occupiers for units in Sydney’s inner west. A shortage of available “good” stock relative to demand is pushing up prices in these suburbs, which are going through gentrification.
Apartments in Sydney’s eastern, beachside suburbs and lower north shore suburbs are also performing well. However, buyers are being very selective and avoiding properties that are overpriced or apartments in secondary locations.
Strong rental demand, a shortage of rental properties, tightening vacancies and rising rents means investors will vie for the same apartments as owner-occupiers, underpinning prices.
The market for well-located apartments is likely to remain strong throughout spring, and this will be helped if interest rates fall once more as expected.
Melbourne
After falling in value over the first quarter of the year, the Melbourne housing market has been a bit of a surprise, performing better than many expected, with prices rising around 3% over the last quarter, clawing back half of their losses.
Again different segments of the market are at different stages of the property cycle.
Builders and developers have gotten ahead of themselves, and there is a substantial oversupply of newly built house-and-pland packages in the outer suburbs, especially in the west and the north. This will create downward pressure on property values in these locations and for properties in the first-home buyer category in general.
The top end of Melbourne’s property market is still quiet with an oversupply of property relative to the reduced demand for luxury property, however there is more demand for properties priced between $500,000 and $900,000 in the inner- and middle-ring suburbs of Melbourne.
With too many new apartment projects under construction there is an oversupply of CBD and near-city apartments at a time when there is less demand. This will put downward pressure on prices and rentals for apartments, yet interestingly Residex reports that house rents in Melbourne increased by 10.53% in the past year.
Many of the apartments that have been sold off the plan are coming on stream over the next few years and have been purchased by investors. Some will have difficulty getting finance and settling their purchases. Others will be disappointed to see the end value of their properties is less than their purchase price.
This oversupply of apartments will overhang the Melbourne market for a few years, causing prices to fall slightly.
However established apartments with an element of scarcity, for example Art Deco features, are still selling well, as there is limited supply in relation to the current demand for these types of properties in Melbourne’s bayside, eastern and south-eastern suburbs.
On the whole though, I expect the Melbourne market to remain subdued for a while but, as in every market, there are some great buying opportunities, especially for properties to which you can add value through renovations and manufacture capital growth.
 
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Brisbane After a number of tough years Brisbane median house prices fell 0.60 % and unit prices fell 0.61% over the last year, according to Residex. The Brisbane market is now hovering near the bottom of its cycle.
Buyers are lacking confidence to re-enter the market and are sitting on the sidelines waiting for signs that the market has bottomed before they make a purchase. Many were waiting for the resources boom to reignite their property market, but recent negative media has dampened their confidence.
However we’re seeing more strategic investors getting a foothold in the Brisbane market, recognising that it’s a “buyers’ market” and taking advantage of countercyclical opportunities.
There is an oversupply of apartments in the Brisbane CBD and surrounding suburbs, with over 40 projects currently being marketed. Many of these apartments will remain unsold, and this oversupply of properties will put downward pressure on prices and rentals.
The Brisbane detached house market is still languishing but on the way to bottoming out. House prices have dropped for the last few years in Brisbane, but there are signs that the inner and middle-ring Brisbane home market is picking up with more buyers returning and many properties now selling under multi-offer scenarios.
All this means that Brisbane is entering the stabilisation phase of its property cycle, but prices are unlikely to start rising until 2013.
The good news for property investors is that house rents in Brisbane increased by 14.47% in the past year.
Perth The Perth property market, which has been in a slump for the last five years, appears to be moving again, with median house prices increasing by 3.17% and apartments by 10.05% over the last year, according to Residex.
All the fundamentals are positive – Western Australia has Australia's strongest economy, lowest unemployment rate and highest wages. Rents for both units and houses are rising, and there is an increasing shortage of accommodation for the increasing number of buyers and tenants.
It’s the old supply and demand ratio at play. Population growth is strong and and levels of construction have been low for the last few years, so the cycle is moving on. And so are rentals. According to Residex, house rents in Perth increased by 16.46% in the past year.
 
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Adelaide The Adelaide property markets are flat at present. Median house prices fell 2.45 % and unit prices fell 2.1% over the last year and median rents remained steady, according to Residex.
Since the announcement of postponing any additions to the Olympic Dam project, confidence is waning, as many locals were hoping this project would turn South Australia into the next big mining state. Unfortunately there is nothing in the wings to suggest this market will change in the near future.
Darwin Darwin’s property markets have performed well, with median house prices increasing by 3.37% and unit prices by 5.95% over the last year, according to Residex.
Darwin’s market tends to be volatile and seasonal but is underpinned by increased activity in the resources sector, especially offshore resources.
Canberra Median house prices in the ACT fell 0.26 % and unit prices fell 5.47% over the last year, according to Residex.
But the market may be turning as Canberra has low unemployment, relatively high public service incomes and a shortage of accommodation, especially at the cheaper end of the market.
Hobart Residex reports that median house prices in the Hobart fell 6.36 % and unit prices fell 6.68% over the last year and that median house rents did not increase.
While the Hobart property market has performed relatively well over the longer term, a weaker economy that lacks exposure to the mainland's resources boom and its relative isolation suggest there are better places to invest in property.
In summary:
Looking at the Australian property markets I see the glass being half full, while I know a lot of people see it half empty. 
There are some excellent property investment opportunities for long-term investors. If you have a secure job and the ability to service a loan, and that’s become much easier recently, now is the time to consider buying a well located residential investment property. 
Does that mean the markets have bottomed?
My honest response is I have no idea, but the answer is probably not in some areas. 
But my question to you is – “are we buying ‘the market’?" Clearly the answer is no. 
What I recommend is that you consider investing in a property that you would be happy to hold in your portfolio in the long term and one that was bought sufficiently below intrinsic value so that even if the market fell a bit further, you would still have bought well.
Michael Yardney is the director of <a href="https://www.metropole.com.au/" target="_blank">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 href="https://propertyupdate.com.au/category/property-investment/" target="_blank"> Property Investment Update blog.</a>
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Where property investors should look to buy in each capital city market: Michael Yardney 

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Westfield will not be following the lead of David Jones, having ruled out building any residential projects above its many Australian retail malls.
Westfield director  Domenic Panaccio says the company is committed to having retail malls and at most having office additions in some, but says there will be no foray into residential redevelopment of their retail portfolio.
Panaccio’s comments come as David Jones chief Paul Zahra said his company was considering commercial and residential developments above its stores.
“That could be a good option for David Jones," Panaccio told Fairfax Media.
"They’re looking for opportunities. It would bring people to the city and could create further growth if the residential demand was there,” Panaccio said.
David Jones have been undertaking valuations and investigating the potential for redevelopment of its stores after posting a 40% slump in profits.
It's been touted that David Jones could add an extra 20 levels above its Market Street store in Sydney as well as options at its two Bourke Street stores in Melbourne and its Elizabeth Street store in Sydney.
Westfield has been busy redeveloping some of its malls with Melbourne’s Fountain Gate re-opening yesterday.
The $340 million redevelopment has turned the mall into Australia's second largest at 174,000 square metres.
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Westfield won't be following David Jones residential redevelopment lead

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The Sando is likely to be redeveloped into apartments after the pub's owner failed to find a buyer or partner to save the iconic live music pub, which went into receivership in July with a debt to Bankwest of $3.6 million.
Expressions of interest closed yesterday for Sydney's Sandringham Hotel, immortalised by The Whitlams in the songs God Drinks at the Sando and Blow Up the Pokies.
Even support from the great and good in the music industry<a target="_blank" href="https://www.propertyobserver.com.au/leisure/the-sando-owner-says-iconic-recently-renovated-sydney-pub-receivership-due-bankwest-the-council-and-the-suits/2012071255560"> failed to save The Sando</a> despite a <a target="_blank" href="https://saveoursando.com/" rel="nofollow">free concert in Martin Place</a> earlier this week to draw attention to the pub's plight fronted by Mark Evans, formerly of AC/DC, Mark Gable of The Choirboys and Doc Neeson of The Angels.
Tony Townsend, owner of The Sando, told SmartCompany a number of rallies had been held to draw attention to the pub's plight but expressions of interest had closed and he is not aware of any offers.
"We were not able to uncover the white knight, unfortunately," says Townsend.
"We have tried a number of times to bring the bank to the table and we have actually made a few offers to the bank and at this point of time they are going to take it to due process."
Townsend claims The Sando was highly leveraged at around 65% when Bankwest (which was taken over by the Commonwealth Bank) called in its facility and gave him seven days to pay $3.2 million.
"I was very upset by some of the things that were said by Commonwealth Bank and the receivers as they were misleading to say the least; things like we never paid or defaulted on paying our interest, that was just not true," he says.
"Until the bank sent its letter of demand on we paid every single interest payment, the only default we had was a loan value ratio default which is a minor default."
Townsend says he ran a "very tight business" but it was very marginal and once the receivers, Ferrier Hodgson, were called in it was very difficult to save the business.
"We've worked through a number of solutions since that letter of demand but it's very difficult when you have a scenario of interest jumping from $16,000 to $48,000 per month plus other costs, such as the receiver's costs and legal costs," he says.
"It's just a recipe for disaster, especially when you put your hand out to the bank and said we are in trouble, we need you to give us a hand, that's the sort of hand we got given."
 
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Townsend says he is planning legal action and is also making a submission to the <a href="https://www.smartcompany.com.au/financial-services-and-insurance/051162-no-conspiracy-commonwealth-bank-denies-allegations-it-liquidated-bankwest-customers-at-senate-inquiry">Senate Inquiry into the banking sector</a>, which is investigating claims as to whether the Commonwealth Bank sought to liquidate Bankwest customers to reduce the price paid for Bankwest.
"It will go to court and we will be seeking damages. It appears that the Financial Ombudsman Service can't do a lot until somebody actually takes the business away from you. The court can't stop the process until you lose it."
Townsend says while he initially hoped to find a partner to enter into a joint venture to keep The Sando as a live music venue, it was difficult because live music venues only return around 6% while pubs which have gaming return about 14%.
"We tried to raise awareness of what a hotel like The Sando is in a community like Newtown and what it means to a community like the music community and, unfortunately, we were not able to uncover anyone who had an empathy for that use," he says.
Townsend expects The Sando will be sold cheaply to developers and will no longer operate as a live music venue. He says the property is zoned for accommodation and can be built to four storeys.
"Someone will make $5 million or $6 million out of it," he says.
"They won't pay full value for it, they'll pay fire sale value for it and it will just be another live venue gone."
Michael Cave, spokesperson for Ferrier Hodgson, told SmartCompany it was still "early days" in the process and the receivers are still dealing with the "numerous" expressions of interest that came in.
He says the Sandringham Hotel business had been in financial difficulty since mid-2009, and Townsend has been issued with numerous breach and default notices, with his account in arrears throughout 2011 and the first half of 2012.
"The bank took the decision to appoint receivers only after considering all available options and going to extraordinary lengths in an attempt to help the customer resolve his financial issues," Cave said in a statement.
The Commonwealth Bank directed SmartCompany to a statement it issued last month entitled "<a target="_blank" href="https://www.commbank.com.au/about-us/news/on-the-record/2012/270812-sandringham-hotel.aspx" rel="nofollow">Facts about The Sandringham Hotel</a>", which said Townsend was in default throughout 2009 and 2010, including non-payment of interest on the debt and also non-payment of land tax to the NSW Office of State Revenue.
"As the customer did not take the necessary steps to resolve his financial issues and following an extensive period of time working with the customer, the Bank appointed receivers in July, 2012," the statement said.
This article originally appeared on <a target="_blank" href="https://www.smartcompany.com.au/index.php">SmartCompany</a>.
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Sydney pub the Sando likely to be developed as white knight deadline passes

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BWP Trust has added the Gladstone Home Centre to its bulky goods property portfolio, paying $27 million for the 21,791-square-metre retail centre just outside the business centre of Queensland mining hotspot, Gladstone.
The centre is anchor tenanted by Bunnings and Harvey Norman. It was previously called the Centro Gladstone Home and formed part of Centro’s MCS 37 property trust.
BWP Trust primarily invests in Bunnings bulky goods stores.
The Gladstone acquisition increases the number of Bunnings Warehouses owned by the trust to 67 and brings the total number of properties in the portfolio to 73.
The purchase price of $27 million (plus acquisition costs of approximately $1.6 million) reflects an initial yield of 8.84%.
The property is fully leased with a passing net annual rental income of approximately $2.38 million and has a weighted average lease expiry (by income) of approximately 4.4 years.
Bulky good stores remain a sought after retail asset, with BIS Shrapnel noting in its September 2012 Building Industry Prospects report that bulky goods centres and neighbourhood shopping centre buildings have outperformed the retail sector “and this is anticipated to continue in the near future".
The Gladstone home centre sale comes as the Australian Financial Review reports that ASX-listed property trust Charter Hall Group is in negotiations to acquire a $230 million portfolio of Bunnings Warehouse properties across Australia from Wesfarmers.
Competition in the bulky goods DIY sector has heated up with Woolworths looking to expand its DIY Masters chain.
Burgess Rawson’s Darren Beehag and Dean Venturato are currently seeking buyers for an 8,300-square-metre Bunnings warehouse in Bathurst with an asking price of $8 million – reflecting a yield of around 8.7%. The centre has a net income of $693,000.
Bunnings plans to open 18 warehouses in 2013 with plans to open between 10 and 14 annually in subsequent years. In total there are more than 80 warehouses in the pipeline.
The Gladstone home centre stands at 20 Dawson Highway in Clinton, about eight kilometres south west of Gladstone’s CBD.
The statement accompanying the acquisition of the bulky goods centre notes that Gladstone’s economy "is supported by a variety of refining, chemical and mining industries and it has one of the world's top five coal export ports, handling in excess of 50 million tonnes of coal per annum".
"The estimated current trade area population is approximately 70,000 residents, including over 55,000 residents in the primary catchment." 
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BWP Trust adds to bulky goods property portfolio with $27 million Gladstone home centre acquisition

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If you’ve ever wondered which Australians spend the most amount of money online, now’s your chance to find out.
New data provided by analytics firm Quantium reveals the suburbs in Sydney and Melbourne that spend the most on online retail sales – and which suburbs are experiencing the most growth.
The figures come as part of the research poured into NAB’s online retail sales index, which is one of several projects Quantium prepares for a range of clients.
The data is based on the account information and the address of each account holder, not where products are purchased or where they are delivered.
The transaction data reveals some interesting trends. While most of the activity occurs in the central business districts of both Melbourne and Sydney, there are several suburbs where activity is greater than others.
Several businesses use these types of analytics to inform their marketing campaigns – specifically SEO and AdWords. While this data alone shouldn’t be used by businesses as marketing tools, it represents how important location-based marketing can be when it comes to selling online.
<h1>Melbourne</h1>
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<h1>Sydney</h1>
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This article originally appeared on <a target="_blank" href="https://www.smartcompany.com.au/index.php">SmartCompany.</a>
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