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“Minister Chanthivong and his team have shown real leadership in replacing an outdated two-year bond with cover that matches the lifespan of the buildings people are buying into.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

Joel Robinson

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

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

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

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

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

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

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

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

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

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

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

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

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

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

Every First Home Owner Grant for new property by state

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

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

Staff Writer

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

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

alisonwarters@gmail.com

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

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

Ellen Walker

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

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

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

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The decision by mining companies to use a fly-in-fly-out (FIFO) workforce rather than base them in mining towns will prevent an oversupply of houses and infrastructure when the boom ends, according to new research presented by the RBA.
The report notes 2011 census data, which suggests that mining-focused areas such as the Pilbara in Western Australia and the Bowen Basin in Queensland have a much higher proportion of FIFO workers, and a much smaller share of permanent residents, than other  townships (and capital cities) in Australia.
“The data suggest a little more than 30% of all people in these ‘mining areas’ on census night were FIFO workers, compared with about 15% in 2006, and 4% to 5% in other towns,” notes the report Implications for the Australian Economy of Strong Growth in Asia co-written by RBA assistant governor Christopher Kent,  Michael Plumb deputy head of economic research at the RBA,  and James Bishop, an RBA economist.
“Once the mining investment phase comes to an end, the utilisation of FIFO labour is likely to fall as labour demand in these areas declines.
“To the extent that much of the extra demand for labour in remote locations is temporary, an advantage of FIFO arrangements is that they can help limit the extent of housing and infrastructure required to service the workforce, and therefore reduce the extent of unused capacity when the boom ultimately passes," says the report.
However, the use of FIFO workers has angered many in mining towns, who claim they receive little financial benefit from the nearby mining projects as a result and are demanding mining companies base more of their workforces in their towns.
The issue is currently being examined in a parliamentary inquiry, which has to date received 226 submissions. The inquiry was launched in August last year and is chaired by independent MP Tony Windsor.
Among the submissions, the Mount Isa City Council in north-west Queensland presented a list of ways to limit fly-in, fly-out (FIFO) mining work.
It recommends the government appoint an officer to determine what proportion of workers should live locally when granting mining approvals.
"An officer should be empowered to make recommendations when they are considering issuing a mining lease," Mount Isa mayor Tony McGrady told the ABC.
“The job of this officer would be to recommend as one of the conditions of the mining lease whether or not fly-in, fly-out operations should be allowed."
McGrady says regional towns across Queensland are emptying out because of the growing trend for miners to travel to work while their families live on the coast.
McGrady also wants the government to implement tax breaks to encourage workers to live in mining towns.
The findings of the research paper Implications for the Australian Economy of Strong Growth in Asia was presented by the RBA assistant governor Christopher Kent at conference in Canberra yesterday.
The conference was jointly hosted by the International Monetary Fund (IMF), Treasury and the RBA.
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lschlesinger-FZcF9M3vE6

Fly-in-fly-out workers preventing overbuilding of houses and infrastructure in mining towns: RBA research paper

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The premises of popular Melbourne café Oli &amp; Levi at the end of the Coromandel Place laneway in the Melbourne CBD failed to attract any bids at auction yesterday.
Try as he might auctioneer David Scholes could not extract any bids from a room packed with potential investors attending the Burgess Rawson portfolio auction at Melbourne’s Crown Casino.
The 40-square-metre café was expected to sell at auction around the $570,000 mark (a yield of around 7.4%), with Scholes trying to cajole investors by telling them the café served “300 cups of coffee before lunch”.
<img src="/images/stories/2012/09/olilevi1.jpg">
However there was no interest at $500,000, $480,000 or $450,000, and the cafe premises was passed in on a vendor bid of $550,000.
Buyers might have held off in the hopes of negotiating a cheaper purchase price post-auction given the café was advertised with tag line "immediate sale required" and had received expressions of interest prior to auction.
It was marketed by Jamie Perlinger and Raoul Holderhead of Burgess Rawson.
The café at 20 Coromandel Place on the ground floor of the Coromandel apartment block pays rent of around $40,600. It is open from Monday to Friday for breakfast and lunch, and Property Observer can attest that the cappuccino ($3.50) and rhubarb tart ($1.50) are well worth a visit.
<img src="/images/stories/2012/09/olilevi2.jpg" width="470">
Coromandel Place is a dead-end laneway that runs off Little Collins Street in between Exhibition and Russell streets.
 
<hr class="system-pagebreak">
 
The café is surrounded by warehouse-style apartments, and there are currently no other retail or eateries in the laneway with the shop next door vacant.
<img src="/images/stories/2012/09/olilevi3.jpg" width="470">
The 90-apartment Coromandel Place tower was completed in 2011 featuring one- and two-bedroom apartments measuring between 47 square metres and 51 square metres, with most owned by investors.
It is noticeable for featuring moveable internal walls. It was developed by VICLAND Corporation and designed by Bruce Henderson Architects. A one-bedroom apartment in the complex can be bought for around $390,000.
An August 2012 retail survey by Savills finding that food services retailers are bolstering Melbourne CBD’s retail leasing market.
Savills' Spotlight on Melbourne CBD Retail survey found the retail vacancy rate as of August 2012 to be just 5.1%, almost unchanged from nearly three years ago despite “the much-discussed retail sector turmoil”.
Report author and Savills Victorian head of research Glenn Lampard says the research demonstrates that an apparent downturn in retailing is not reflected in vacancy data but confined to particular sectors of the market, including those facing the increased competition that internet retailing had produced.
“What we are seeing is a re-organisation of the deckchairs with department stores, big box retailers, and those stores appealing to the discretionary spend, especially fashion, declining in number while food and beverage retailers are taking up the slack,’’ he says.
Savills’ retail directors Michael Di Carlo and Jeremy Marmur say the amount of activity in the leasing market also revealed evidence of an evolution in CBD tenancy mix.
“We’ve done 20% more deals in the period January to August than we did over the same period in 2011," says Di Carlo. 
“What that says is firstly, that the retail market is a lot less sluggish than the headlines would suggest, but with a significant number of those new deals falling to food and beverage retailers, there is now underway a trend towards a real change in CBD tenancy mix,’’ says Di  Carlo.
Recent leases signed by food sector retailers in the Melbourne CBD include South Melbourne takeaway icon South Melbourne Market Dim Sims, which signed its first CBD lease at 26 Elizabeth Street.
Well-known Melbourne restaurateur and chef Marco Santucci agreed terms on a new 400-square-metre lease at 31 Flinders Lane, and a long-standing Hawthorn café has taken a Hardware Lane lease.
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No investor appetite for premises of Melbourne laneway café Oli & Levi despite revival in food-sector leases in CBD

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If investors want to buy a home in Adelaide for under $300,000 they have two main options, according to Herron Todd White.
They can buy a three-bedroom house 25 kilometres from the city or a two-bedroom unit five kilometres from the city, according to the September month in review report.
“For $300,000 you could purchase an older three-bedroom dwelling of around 100 square metres on around 700 square metres of land or a newer three-bedroom dwelling that is possibly a little larger on a smaller lot of around 300 square metres located within the outer northern or southern suburbs,” the report says.
“These suburbs would include Morphett Vale, AldingaBeach, and Seaford Rise in the south and in the north the suburbs of Elizabeth and Salisbury and surrounding areas.”
The report highlights <a href="https://www.propertyobserver.com.au/https://www.thehomepage.com.au/property/residential/7-rochester-drive-salisbury-heights/502338">a three-bedroom home in Salisbury Heights</a> (pictured below), which recently sold for $299,000.
<img src="/images/stories/2012/09/rochester.jpg" width="470">
The sale is very close to entry-level price into the Adelaide market, according to the report, with detached dwellings at between $250,000 to $300,000.
The report does warn that buying in the outer suburbs of Adelaide means a possible risk of compromising capital growth as well as a potential for rising vacancy rates.
“Often built from the 1960s to 1980s many of these homes are now dated and would respond well to upgrading allowing for the potential of value-add in the future.”
For units, $300,000 will buy a two-bedroom unit within five kilometres of the CBD or in beachside suburbs including Glenelg and Henley Beach, with a significant proportion of these being older-style units built in the 1970s and 1980s.
The report highlights a <a href="https://www.realestate.com.au/property-unit-sa-marleston-110106501">two-bedroom Marleston unit</a> (pictured below) that recently traded for $292,000.
<img src="/images/stories/2012/09/barnes.jpg" width="470">
The entry price for units in the Adelaide market is around $200,000 or even slightly less, according to the report.
“It is worth noting that at this very low end of the market the price of the dwelling is directly reflective of its quality and location. This price point (and slightly higher) in the Adelaide property market is the realm of first home buyer and investor.”
The report is upbeat about the Adelaide housing market, although it is somewhat flat.
“The Adelaide property market in the short term continues to be flat and limited growth is expected in the next 24 months.”
“Both of these property types are currently yielding around 4% to 5% gross.
“Relative to other investment prospects such as shares or long term saving accounts we think that property still remains a viable long-term investment.”
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awalsh-7Ub9EypybQ

Buying for under $300,000 in Adelaide will require a compromise on space or locality: HTW

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Landlords could soon have a legal obligation to ensure wooden decks are safe for tenants.
This follows the release of a findings from Rockhampton Coroner Annette Hennessy after an inquest into the tragic death of seven-week-old baby Isabella Diefenbach in May 2010.
Isabella died after falling from the deck of her parents’ rental home in Yeppoon, north of Rockhampton. She was being held by her father, Adam, when his foot fell through a rotted wooden plank on the house’s deck, causing Isabella to fall from his arms.
Hennessy recommends that current state laws be amended to ensure mandatory inspections are undertaken on decks that are 10 years old or more before a property is placed on the rental market, and that ongoing checks of decks are undertaken every three years thereafter.
She has also  called on the real estate industry to ensure wood rot is classified as an emergency repair – meaning any time this is identified in a rental property it must be acted on as an immediate priority.
Before Isabella's death her parents Adam and Jenny had made complaints to their real estate agent and landlord about the state of the deck.
In her report Hennessy said the Diefenbachs went to the real estate agent four times to have the floorboards fixed.
She said a carpenter was called in but had not done the repairs properly.
The legal requirements of landlords and tenants are contained in the Residential Tenancies and Rooming Accommodation Act.
Under the act, works deemed emergency repairs are any of the following:
<ul>
<li>a burst water service</li>
<li>a blocked or broken lavatory service</li>
<li>a serious roof leak</li>
<li>a gas leak</li>
<li>a dangerous electrical fault</li>
<li>flooding or serious flood damage</li>
<li>serious storm, fire or impact damage</li>
<li>a failure or breakdown of the gas, electricity or water supply to premises</li>
<li>a failure or breakdown of an essential service or appliance on premises for hot water, cooking or heating</li>
<li>a fault or damage that makes premises unsafe or insecure</li>
<li>a fault or damage likely to injure a person, damage property or unduly inconvenience a resident of the premises</li>
<li>a serious fault in a staircase, lift or other common area of premises, that unduly inconveniences a resident in gaining access to, or using, the premises.</li>
</ul>
In Queensland, the residential rental sector is managed by the Residential Tenancies Authority.
At the inquest real estate agent Ross O'Reilly said he was aware of some deterioration of timber on the deck before the incident, but said he felt safe while walking around.
He told the court he had not noticed a large hole in the deck.
In her report, Hennessy also called on O'Reilly's Real Estate to adjust its internal practices.
Gino Andrieri from Maurice Blackburn Lawyers, who represented the Diefenbachs at the inquiry, says the coroner’s findings are an acknowledgement that Isabella’s death could have been avoided if things had been done differently.
Hennessy’s other recommendations include that tenants to have greater access to information about their rental properties, including being allowed to access inspection reports to ensure they are confident the house they are living in is safe.
“These changes will require a range of industry bodies to work together to implement, but the priority for the Diefenbach family has always been to ensure lessons are learned and that something like this can never happen to another family," says Andrieri.
“We are hopeful today will see the start of this, right across Queensland’s real estate industry.”
 The Real Estate Institute of Queensland (REIQ) has acknowledged the findings, but having already spoken with the state government, has sought industry self-regulation along with compulsory professional development.
‘‘The Institute has made ongoing representations to the government during the lead-up to the proposed review of the Property Agents and Motor Dealers Act about the need for the introduction of an appropriate disclosure regime for landlords, as implied in the coroner’s recommendations,’’ he said.
‘‘Property managers are the intermediary between property owners and tenants and can often be perceived as having statutory responsibilities under the Residential Tenancies and Rooming Accommodation Act which in fact remain with the owner.’’
 
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Findings from inquiry into Rockhampton wooden deck tragedy likely to change landlord inspection requirements

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Buying a house in the cheapest suburb within 20 kilometres of the CBD will still cost at least $420,000 in Sydney, Darwin and Canberra, according to an RP Data report.
Granville, south of Parramatta, is the cheapest suburb within 20 kilometres of Sydney’s CBD, with a median house price of $445,424.
In Canberra, the cheapest suburb within 20 kilometres is Richardson, in the south, with a median house price of $452,540.
In Darwin, the cheapest suburb is Moulden in the south-west, with a median house price at $423,007.
Prices are significantly lower within 20 kilometres of the other capital cities, with Melbourne’s Dallas, in the north, at $288,702; Brisbane’s Gailes, in the south-west, at $239,700; Adelaide’s Salisbury North, in the north, at $229,601; Perth’s Maddington, in the south-east, at $298,297; and Hobart’s Bridgewater, in the north-west, at $174,464.
RP Data’s Cameron Kusher says unlike the unit market, house prices do tend drop in price the further out from the city buyers look.
“The most highly sought after areas of the city tend to be those which are close to the city centre as well as the most expensive in which to purchase a home,” Kusher says.
<img src="/images/stories/2012/09/afford2.gif">
Source: <a target="_blank" href="https://www.myrp.com.au/">RP Data</a>
Within five kilometres of the CBD, buying a house costs more than $500,000 across every capital city except Adelaide and Hobart.
Within five kilometres of the CBD, the cheapest suburb in Sydney is Waterloo, with a median house price of $607,518. This is followed by Melbourne’s Flemington at $599,785, Canberra’s Downer at $579,932, Brisbane’s Morningside at $533,066, Darwin itself at $508,292, Perth’s Carlisle at $506,339, Adelaide’s Renown Park at $387,573, and Hobart’s Warrane at $231,267.
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No suburbs with house prices under $420,000 within 20 kilometres of Sydney, Canberra and Darwin: RP Data

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The rental vacancy rate rose sharply in Sydney’s middle and outer suburbs over August to sit at or just above the benchmark 3% rate, according to figures published by the Real Estate Institute of NSW (REINSW). A market is considered to be evenly balance between renters and landlords at a vacancy rate 3%, but anything above 3% favours renters. In the middle suburbs (10-25 kilometres from the CBD) the vacancy rate increased by 0.7 percentage points to sit at exactly 3%, while in the outer suburbs (more than 25 kilometres from CBD) the vacancy rate rose 0.8 percentage points to 3.1%.
The inner-city suburbs rental market remained tight, with the vacancy rate tightening from 2% to 1.8% to give Sydney an overall vacancy rate of 2.7% (up 0.5 percentage points) – the city’s highest vacancy rate since January 2006.
Click to enlarge
<a title="Click to enlarge" rel="shadowbox" href="/images/stories/2012/09/reinswsept20.gif"><img src="/images/stories/2012/09/reinswsept20thumb.gif"></a>
“Again we are seeing strong growth in available rental accommodation, which is obviously good news for prospective tenants,” says REINSW presidentChristian Payne.
“These latest figures are good news for tenants looking for rental accommodation in Sydney, as a higher percentage of available properties means even greater choice.
“Given this is the second month of strong growth, we will be looking towards the September data to see if a trend is emerging,” he says.
Outside of Sydney, the vacancy rate rose in Wollongong but fell in Newcastle. Wollongong’s overall vacancy rates increased 0.9 percentage points to 3.4%.
The Newcastle rental market remains the tightest NSW metropolitan region, recording a 0.4 percentage point decline in August to a vacancy rate of just 1.4%. On the central coast, the vacancy rate fell 0.4 percentage points to 2.3%. In regional New South Wales the rental picture was mixed, with significant variation across the state. “The Murrumbidgee recorded the lowest percentage of available rental properties at 1.0 per cent and Coffs Harbour recorded the highest with a vacancy rate of 4.7%,” says Payne.
Click to enlarge
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Sydney rental vacancy rate rises to 2.7% in August, with middle and outer suburbs favouring renters

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So, does Australia have too few, too many, or is the situation just about right?
I am talking about new dwellings.
I have been arguing for some time that one of the biggest real estate myths in this country is that the new housing market is undersupplied; and often this situation is described with words such as “massive”, “chronic” or “enormous”.
But is it true?  As followers of the Matusik Missive know, I have tried to prove that it is false and with, for mine, with quite a degree of finesse.  Yeah, like a bull in a china shop.
Anyway, each year I like to go back and check the numbers.  And last week’s annual check-up has found that Australia continues to build more dwellings than we need.  A few years back – in 2008-09 – not enough new homes were being built, but in recent years, and despite the constant calls from the building industry for stimulus to help create even more new dwellings, we have been building too many. 
In the 2009 financial year, Australia needed to build 167,000 new dwellings, yet only 131,000 or thereabouts were commenced.  However, in 2010 (all years in this post are financial ones), the supply-demand balance reversed, with just 121,000 new homes needed, yet 167,000 actually commenced construction.  During 2011 the industry continued to build far more homes than what was actually needed, to the tune of about 47,650 too many.
The good news is that the rate of overbuilding has slowed down over the last 12 months, with 137,000 new dwellings needed during 2011-12 and with 139,000 actually supplied.
However, dwelling supply (we are talking about actual commencements here and not approvals) is cumulative and since the GFC, Australia has built about 60,000 more new dwellings than it really needed.
Nationwide, we are currently oversupplied with new digs to the tune of about five months, based on current underlying demand.  In short, we could, as a nation, stop building for several months and still have enough new homes to fulfil our needs.
But of course, there are always swings and roundabouts.
Several states and territories are undersupplied, some are chronically oversupplied – I just had to get that in – while others have way too much stock.
Major oversupplies now exist in Victoria; South Australia, Tasmania and the ACT.
Since 2009, Victoria has created 69,000 (yes 69,000 – that’s five digits with a six at the front!) too many new dwellings.  This represents about a two-year oversupply based on the current annual underlying demand for 34,000 new dwellings across the state.
South Australia has built 18,000 too many new homes, but with a need to just build about 6,000 new dwellings per year, South Australia really shouldn’t need to build a new home for years, well close to three, in fact.
There are 6,000 too many dwellings built or being built in Canberra.  This equates to 30 months of supply.  And poor Tassie has also overbuilt, and also in the high 4,000 range.  But Tasmania’s situation is further exacerbated by its declining population growth.  Based on a continuation of last year’s paltry population increase of 1,000 people, Tassie’s 4,800 overbuild represents close to nine years of demand.  Now might be a good time to steal a new property on the Apple Isle.
The Northern Territory is now also oversupplied, with 350 too many dwellings created in recent years.  The demand for new homes in the territory is limited (at about 800 per annum), so this paltry 350 over-hang represents six month’s demand.
In stark contrast, New South Wales hasn’t been building enough new stock – no surprise there – but the undersupply is to the tune of 13,000 or about five months of current demand.
Western Australia is also undersupplied by about 23,000 dwellings at present, which equates to about an nine month demand.
Finally, Queensland has a new dwelling short-fall of 2,800 or two weeks of undersupply.
Last year’s statistics, however, suggest that Queensland is now heading towards a massive undersupply, with 33,000 new dwellings needed during 2012, yet just 26,000 supplied – an undersupply in the tune of about 20%.
Let’s hope the Newman government’s recent $15,000 first-home buyers' grant for new construction kicks some arse.  But for mine, it will not deliver the spanking it was intended to.
Michael Matusik is the founder of <a target="_blank" href="https://www.matusik.com.au/">Matusik Property Insights</a>, which has helped over 550 new residential projects come to fruition.  Read <a target="_blank" href="https://www.matusikmissive.com.au/" title="blocked::https://www.matusikmissive.wordpress.com /">Michael's blog</a>or follow him on <a target="_blank" href="https://www.twitter.com/michaelmatusik">Twitter</a> or connect via <a href="https://www.linkedin.com/in/michaelmatusik">LinkedIn</a>.
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Australia has an oversupply of 60,000 dwellings

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With property acquisition and disposal costs being what they are, investing in property needs to be undertaken with a mid- to long-term focus. So, with large-scale urbanisation unfolding across many Asian countries, it is essential for a property analyst to look at how the resultant structural changes to world economies might impact Australian property markets over the mid- to long term too.
The rise and rise of Asia has kept me keenly interested over the past few years. Asia’s urbanisation and rising middle class are generating demand for natural resources and presenting economic opportunities on a scale not seen since the Industrial Revolution.
Where Australia sits as these globally significant megatrends play out is the subject of the federal government’s white paper Australia in the Asian Century, due out within weeks.
We expect the white paper will outline opportunities and possible roles for Australia in what is known as the ‘Asian Century’ — the current 100-year period in which great economic, political and strategic change in Asia (encompassing China, India, the key ASEAN countries, Japan and the Republic of Korea) is underway. (Although given we’re a good 12 years in and we haven’t yet seen, let alone begun planning and implementing, the contents of this white paper, it’s fortunate for the federal government that it is a century of opportunity or we’d be missing the boat entirely.)
You need to be a visionary to invest successfully, so documents such as this white paper interest me. Government policy changes and business decisions will have an impact on industry sectors, employment opportunities, and demand for that essential commodity we property investors love: accommodation.
This white paper will outline opportunities resulting from stronger ties with the Red Dragon (China) and other emerging countries, such as India, South Korea and Vietnam. So you could say, the opportunity is in the "red" and the detail is in the "white". Bring it on!
Asia is on a mission to replace the simple lifestyles of its villages with the creature comforts of modern cities, which the Western world has taken for granted for generations. As this evolves, dozens of new cities the size of our own capitals will be built and Asia’s middle class is forecast to grow from 0.5 billion (in 2009) to 1.5 billion by 2020. To put this in to perspective, Australia’s total population is 0.02 billion.
The opportunities for Australia should already be obvious. Australia has what Asia wants: energy resources, commodities for construction and manufacturing, agricultural products, education facilities, and quality tourism locations. But it’s not just one-way traffic.
Asia has something Australia is short on: capital. With federal and state budgets increasingly under pressure and funding difficult to secure generally, there is scope for Australian-based private investors to partner with Asian companies to secure the funds they need to get major infrastructure projects off the ground, thus creating enormous economic and employment opportunities and improving facilities, which would otherwise have taken decades.
To this end, Australia must relax its foreign investment policy to encourage joint ventures. Because 50% of something is much more than 100% of nothing!
If all levels of Australia’s governments are smart, they will use this once-in-a-lifetime opportunity to score two wins: decentralise our population away from the capital cities where there’s an unsustainably high concentration of people, and add economic diversity to specific regional communities. With some lateral thinking and an eye for the future, governments could create unprecedented opportunities out of the Asian Century.


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Here’s the chance to take the focus away from capital cities and to work with the strengths of many regional locations. Just a few examples:
<ul>
<li>Asia’s rising middle class is seeking quality education facilities. Strong regional locations such as Orange (Charles Sturt University and specialist medical facilities) and Townsville (James Cook University and the CSIRO facility) have potential to become a future breeding ground for Asian professionals. The same could be said for Perth’s expanding Murdoch medical precinct. Adelaide might also consider jumping on board and investing in facilities to support Asia’s future demand for higher education.</li>
<li>Vast areas of dust bowl land from the Pilbara to Cape York could be irrigated to produce thriving agricultural crops to serve as Asia’s future "food bowl". In return, Asian capital could help fund strategically-positioned communities that could provide goods and services to support thousands of new jobs in these precincts.</li>
<li>Cairns and the Gold Coast, with their unhealthy reliance on tourism, could both benefit from adding an alternative string to their economic bow. </li>
<li>Geraldton would do well to explore investment in hotel accommodation and to promote its pristine beaches and Abrolhos coral islands to tap into the Asian tourism market. And a Chinese partnership could secure the venture capital necessary to fund the proposed Oakajee Port and rail infrastructure, enabling several inland iron ore mines to deliver their product to the Asian market and creating tens of thousands of jobs.</li>
<li>The natural beauties of Darwin and Broome could be boosted by investment in better facilities, which would also make these areas strong attractions to the Asian tourism market.</li>
</ul>
But if Australia is going to prosper from the urbanisation of the world’s largest population and fastest-growing economy, a bit of elbow grease will be needed. We’ll have to strive to understand Asian culture and how these countries do business, and overcome any language barriers. We’ll need to overhaul our school curriculum, our foreign investment policy, and our immigration policy for (specific) skilled labour and Asian students.
Dare we hope the long-awaited white paper will cement the path ahead with its recommendations? I’ve read dozens of government planning documents over the years and I expect the Australia in the Asian Century White Paper to be much the same as the rest. It’ll use the words "plan" and "projected" a lot. There’ll be plenty of media hype, delegated responsibility, and money spent on feasibilities.
Property spruikers will see it and other related reports as an extra sales tool. Selectively chosen comments will be lifted from the White Paper and recited as if the outcome is guaranteed.
Oh, and one last thing. The author of this long-awaited white paper is former Treasury Secretary Dr Ken Henry. Yes, the same man who the same government commissioned to prepare a different report that was designed to give Australia’s inefficient tax system a complete overhaul.
The same report that has mostly blank spaces in the ‘implemented’ column alongside its 138 recommendations. Perhaps that’s why they call it a ‘white paper’?
Let’s hope for a very different outcome with this next one.
Simon Pressley is a buyers' agent for Queensland-based <a href="https://www.propertyology.com.au">Propertyology</a>.
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The Asian Century provides unprecedented opportunities for regional Australian property

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David Jones has advised it is not considering a sale of its flagship Sydney and Melbourne CBD properties, but rather their redevelopment, as profit slumps amid the internet-driven worsening traditional retail environment.
Net profits in the year to July dropped 39.9% to $101.1 million, down from $168.1 million, the second largest department store company advised today in line with earlier guidance.
While the department store has ruled out selling its four landmark CBD properties, its is still reviewing opportunities to unlock the value of its property portfolio, which it anticipates could be worth almost twice its $460 million book value.
After early reportage, by including Property Observer, its chief executive Paul Zahra said the company wasn't considering the sale of its four flagship properties in the Sydney and Melbourne CBDs, estimated to be worth $612 million, but rather merely having the properties potential investigated and "appropriately valued because there was such a wide range in the market about what the properties were worth."

"We didn't do the work to sell the properties, that wasn't our intention," he announced after the headlines interpreted the initial announcement.
"We have no plans to sell the properties.

"What we wanted to do was actually get the properties appropriately valued because there was such a wide range in the market about what the properties were worth."

The company, in an effort to reassure investors of the company's value after profit plunged over the past year, will update the market on its plans in six months. While ruling itself out as a property developer, David Jones could look at forming a partnership with a developer.
The latest property sale speculation came after David Jones announced consultants Cushman &amp; Wakefield had been appointed to ‘‘investigate opportunities to unlock and enhance the value of its property portfolio.’’
David Jones’s flagship stores on Elizabeth Street and Market Street in Sydney and on Bourke Street in Melbourne have 85,000 square metres of floor space between them and could rent for $39 million a year, the company said.
"Detailed analysis on the development opportunities of each site, including planning limitations, design, structural works and the short term impact on trading is being undertaken by the company with a view to updating the market in six months time,'' David Jones said.
The properties are the only ones David Jones owns.
Cushman &amp; Wakefield will advise David Jones "with an indication of the potential sale price of these assets assuming a lease to David Jones, or equivalent tenant, on the basis of their existing use".
But Zahra played down the suggestion it would sell and vacate the properties because of a capital gains tax issues.
He outlined a broader shift in strategy as David Jones will open six new leased store locations, <a target="_blank" href="https://www.propertyobserver.com.au/retail/david-jones-to-open-smaller-village-store-in-malvern-central/2012083056333">including one in 2013 in Highpoint in Melbourne's west and another store in Indooroopilly, Queensland, in 2014.</a>
The company will also open more "village format" stores that focus on fashion and beauty, which are planned to target areas with "good demographics which do not have a major shopping centre".
Last month, David Jones announced a village format store in the Malvern suburb of Melbourne.
Bloomberg reported David Jones sold its stores once, only to reacquire them in September 2006 for $362 million, to regain control of redevelopment potential and avoid rising rental payments.
The $612 million value put on the stores on Elizabeth Street and Market Street in Sydney and Bourke Street in Melbourne is about half of David Jones’s current total stock market valuation of $1.2 billion.
Australia’s largest department store company, Myer, has no significant property assets.
Last month <a target="_blank" href="https://www.propertyobserver.com.au/retail/david-jones-flagship-stores-have-%24666-million-potential/2012081455977">stockbroking analysts </a> looked at the issue of  the partial sale and lease back of David Jones’ flagship stores after takeover speculation.
David Jones has been mooted as a potential leveraged buyout candidate, with much of the value around its property portfolio, UBS noted.
UBS suggested the three flagship stores had a $462.5 million book value, but UBS says they could secure $666 million on-market.
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Clicks make DJs think of evaluating its heritage bricks and mortar 

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An apologetically "downbeat” John Edwards has slammed what he calls an “avalanche” of “foolish government actions” which he says could potentially cause undesirable outcomes for fragile property markets.
His attack on government policies accompanied the release of Residex August property market results, where house prices fell 0.8%, <a target="_blank" href="https://www.propertyobserver.com.au/residential/perth-house-prices-rise-219-in-august-while-melbourne-prices-flat-ilne-residex/2012091856633">with Perth the best-performing capital city with a gain of 2.19% with Sydney and Melbourne house prices flat</a>.
“The simple truth is, in an environment where sentiment is fragile negative news accumulates and contributes to low consumer sentiment," writes Edwards.
“This is perhaps partially responsible for the market downturn in the dwelling price growth in August, after the growth that appeared to be getting underway in July. I also note that the press was reporting a slowing in the Chinese economy in August."
In his blog, he laments the recent actions of federal and state governments and the RBA, which he says could be the “wrong choices”.
“Although housing markets have shown signs of improvement recently, these are progressing at a snail’s pace and remain fragile.
“Decisions made by governments and the Reserve Bank could arguably be the ‘wrong’ choices as far as Australian housing markets are concerned and could potentially cause undesirable outcomes,” says Edwards.
Edwards says he wonders if state governments and the federal government “have lost sight of the reason for governing”.
“It seems that it has become more about scoring points and staying in power rather than working together for the best interest of the population.
“The time for governments to work together to restore consumer confidence in our nation has become critical. We are currently experiencing what I can describe as nothing other than an avalanche of what are, in my opinion, foolish government actions.” Edwards claims the federal government’s carbon tax and resource tax being have been introduced to “ensure a political benefit from a budget surplus”. He also says state governments have retaliated against an uneven distribution of the GST take by doing what they can to gather cash to keep their budgets at acceptable levels by increasing mining royalties and instigating “significant job shedding at a state level”.
“I am left wondering what has to happen to have all governments work as a team for the collective good of Australia.
“The reality is that Australia is headed for trouble if the resources economy stalls badly and unemployment increases. Australia needs to move to remove the Carbon Tax and the Resource Tax and implement a GST to compensate, and maintain a climate where Australian corporations are internationally competitive in the global market, which is contracting due to the difficulties in the US and Europe,” he says.
Looking at the property market more closely, Edwards notes that with current interest rate setting being attractive, “the market should be moving forward more strongly than what we are seeing”.
With auction clearance rates “stubbornly holding within the 50% to 60% range", Edwards says it is difficult to believe that the market is as robust as the press is suggesting.
“According to Residex calculations, capital growth, which is currently more volatile than normal, is again trending down, lending credence to the view that consumers are concerned and uncertain of the future.
“I believe the slow pace to better times is a result of uncertainty and that any significant improvement won’t be seen until there is uplift in sentiment.”
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