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“Minister Chanthivong and his team have shown real leadership in replacing an outdated two-year bond with cover that matches the lifespan of the buildings people are buying into.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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Singapore-based hotel group SilverNeedle Hospitality has acquired the four-star Chifley at Lennons Hotel (also known as the Lennons Plaza hotel) in the Brisbane CBD for around $57 million.
The hotel has been acquired from the Abacus Property Group which valued it at $55 million in June this year.
It last traded for $29.75 million in 2004.
SilverNeedle was due to acquire the hotel in partnership with Fijian-based hotel and construction company Reddy Group, but it did not go ahead with SilverNeedle acquiring the hotel on its own.
The sale was brokered by CBRE Hotels senior director Wayne Bunz and Jones Lang LaSalle Hotels vice-presidents for investment sales Peter Harper and Dean Humphries.
The hotel is one of the best located in the city, standing at 66 Queen Street Mall and is already managed by SilverNeedle under its Chifley brand.
It was formerly called the Country Comfort Lennons Hotel and stands on the site of the General MacArthur's Pacific headquarters during the Second World War.
It features 154 guest rooms as well as 3,695 square metres of commercial office space and 750 square metres of prime ground floor retail fronting the Queen Street Mall.
SilverNeedle will convert refurbish the hotel and convert the existing commercial office space into hotel accomodation, doubling the room count to 300.
The revamped hotel is set to open in 2014 in time for the G20 summit and will be rebranded as NEXT hotel, a new brand to be launched by SilverNeedle in Australia.
The purchase of the Chifley at Lennons follows a number of prominent Australian CBD hotels snapped up by Asian investors.
In July the 100-year old Rendezvous Hotel on Flinders Street being acquired in July by Singapore property Straits Trading Company for $61 million as part of its expansion in Australia.
In June the Sydney Harbour Marriott, the Brisbane Marriott and the Melbourne Marriott were been bought by Malaysia-listed Starhill Real Estate Investment Trust, managed by Malaysian conglomerate YTL Corp for $415 million. The Marriott properties formed part of Colonial First State’s (CFS) Commonwealth Property Hotel Fund.
SilverNeedle, which was formely called Constellation Hotels, owns and manages around 67 hotels across the Asia-Pacific region.
It is a privately owned company, majority-owned by IT entrepreneur Nadathur S. Raghavan.
Raghavan told The Australian he would be looking at other acquisition in Melbourne, Perth and Sydney after “digesting” the Brisbane acquisition.
In Australia, SilverNeedle operates around 4,400 rooms in Australia under the Grand Chifley, Chifley, Australis, Country Comfort and Sundowner brands.
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Brisbane Chifley at Lennons Hotel acquired by Singapore hotel group for $57 million

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Property investment options under $300,000 in Melbourne are relatively limited unless you’re prepared to compromise on quality or are willing to spend extra on renovations, reports Herron Todd White in its September review of residential buying opportunities in this price bracket.
But further afield, in regional Victoria, options under this benchmark (close to the size of an average Australian mortgage, according to the ABS) are much more plentiful – provided you’re not too snobbish about buying a 1970s or 1980s-era brick veneer house.
Examples include <a href="https://www.realestateview.com.au/Real-Estate/8-king-street-warragul/Property-Details-buy-residential-4436857" target="_blank">this well-kept three-bedroom brick veneer home on King Street</a> in Warragul, Gippsland (pictured below), listed for a negotiable $269,000 on an 800-square-metre block by South East Real Estate. The property was rented at around $220 per week in 2009, a yield of 4.25%. It was listed for sale in March 2010 for $250,000 but failed to sell.
<img src="/images/stories/2012/09/kingst.jpg" width="470">
According to HTW, suburban investment options under $300,000 in Melbourne stretch from close to the city, incorporating up-and-coming suburbs like Preston and Coburg, to as far north as Craigieburn, where Stockland’s Highland master-planned community is being developed.
In these suburbs, the best options in this price bracket are one and two-bedroom apartments.
Investors or owner-occupiers can snap up <a href="https://www.realestateview.com.au/Real-Estate/109-19-pentridge-boulevard-coburg/Property-Details-buy-residential-4184251" target="_blank">this one-bedroom apartment</a> (below) overlooking the walls of the former Pentridge Prison, which is listed at $269,000 by Stockdale &amp; Leggo Carlton. A third-storey one-bedroom apartment in the same development sold for $343,000 in July this year.
<img src="/images/stories/2012/09/pentridge.jpg" width="470">
In Preston the range is restricted primarily to one-bedroom units.
Two-bedroom units are available in this price range, but HTW says they will be in a poor location or in extremely poor condition.
Currently priced at just under $300,000 is a<a target="_blank" href="https://www.realestate.com.au/property-apartment-vic-preston-111520555"> modern one-bedroom unit</a> (pictured below) by Mario Tucci of Harcourts Thomastown. RP Data show the property was last rented at $290 per week in 2009 – a yield of just over 5%. The property has been up for sale through a variety of campaigns since July 2011, seeking offers above $270,000.
<img src="/images/stories/2012/09/gilbertrd.jpg" width="470">
 
<hr class="system-pagebreak">
 
For investors, HTW says prospects in inner suburbs like Preston and Coburg are enticing, as rental returns are still competitive, with one-bedroom apartments selling for under $300,000 but still commanding rental returns above $1,200 per month.
“Investing in the outer suburbs throws up more uncertainty, as the perception that these undeveloped suburbs creates risk and doubt leads to them experiencing slower growth patterns," says HTW.
Investors with more patience and a long-term holding approach could benefit, with HTW expecting growth to come once these suburbs are established in terms of infrastructure and the anticipated planning comes to fruition.
Moving out towards the fringes, HTW says it is very hard to find “liveable” homes for under $300,000 even in places like Wollert, around 30 kilometres from the CBD in Whittlesea.
“To enter into the market in the northern suburbs around Craigieburn and Wollert, a family requiring a 3- bedroom home can be expected to pay around $350,000. Closer into the city around Pascoe Vale prices will start from $360,000 to $370,000 range.
“The houses for this price are very basic and will often be in the poorer locations of the suburbs.”
Investors can pick up a house-and-land package for just above $300,000, with a <a target="_blank" href="https://www.stockland.com.au/residential/vic/eucalypt-packages.aspx?pid=784&amp;k=4e5a43c6ae974281bc8abc5ffb90066b&amp;fi=0">new three-bedroom, two-bathroom house</a> (pictured below) on a 263-square-metre lot selling in Stockland’s Eucalypt development in Wollert for $320,000.
<img src="/images/stories/2012/09/eucalypt.jpg" width="470">
Moving outside of Melbourne, there are numerous sub-$300,000 opportunities in the Gippsland region, an area that begins immediately east of the suburbs of Melbourne and stretching to the New South Wales border.
“Within our local area $300,000 presents buyers with a number of options,” says HTW
Gippsland
<ul>
<li>
Warragul and Drouin: well-located circa 1970s to 1980s brick veneer home in good condition or alternatively an entry-level house-and-land package in a new subdivision</li>
<li>
Moe, Morwell or Newborough: a good quality circa 1980s to early 1990s brick veneer home</li>
<li>
Morwell and Newborough: HTW reports some recent sales of 1970s units well under the $300,000 mark “and admittedly where not very stylish or trendy, they do return in the range of 7% to 9% gross rental”.</li>
<li>
Moe and Morwell: large numbers of basic commission-style dwellings available between $90,000 to $150,000, which show gross rental returns of between 7 to 9%.</li>
<li>
Sale/Maffra:  a three- to four-bedroom, two-bathroom brick veneer home in an established area, generally circa 1980s to 1990s, on land sizes between 700 and 1,000 square metres.</li>
<li>
Sale: a modern (circa 2005 onwards) townhouse in reasonable proximity to the CBD.</li>
<li>
Maffra: a modern townhouse generally closer in to the CBD than in Sale</li>
<li>
Loch Sport/Golden Beach/Paradise Beach/Seaspray: a modern house in a good location, generally with reasonable water views (Loch Sport) or access to the beach (Golden Beach/Paradise Beach/Seaspray) with rental returns of about 5% for a $300,000 investment</li>
<li>
Sale and Traralgon: circa 1980 three- and four-bedroom dwelling in good location on a large block, a renovated older-style weatherboard dwelling in a central location, a brand -ew townhouse with good rental return of 6% plus.</li>
<li>
Churchill: you can pick up two 1970s brick veneer dwellings earning up to 7% return, also older style rural residential property on one acre.</li>
<li>
Rosedale: new house-and-land package four-bedroom home on 800-square-metre to 900-square-metre block, older-style rural residential property on one to five acres.</li>
</ul>
Mildura
 There are plenty of options, with the HTW database showing that $300,000 is above the median sales price.  In this price range it is possible to buy a brick veneer three- or even four-bedroom home built in the period from 1995 to 2006 on a reasonable sized allotment.
“The home won’t come with a pool and will have an average fit-out, but will most likely have some established landscaping and not need any immediate upgrading,” says HTW.
Other options in Mildura include compact four-bedroom homes bought off the plan by one of several project builders currently active in Mildura, with dwellings generally less than 140 square metres located in more of a fringe location.
“We see good prospects for this segment, $300,000 is relatively affordable for any professional people moving to Mildura, and while buyers have been able to be selective in the flat market that has persisted for the past two to three years, there is likely to be on going demand from owner-occupiers and investors alike," says HTW.
“The most active buyers of the new dwellings have been 'out of town' investors, keen to capitalise on the tight rental market and potential to obtain 6% gross rental returns combined with higher depreciation allowances than would be obtained from older dwellings.”
<a href="https://www.propertyobserver.com.au/new-south-wales/from-potts-point-to-the-central-coast-17-property-investment-options-in-nsw-for-under-%24300000-htw/2012091256531">Click here for HTW sub-$300,000 recommendations in NSW.</a>
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Little to entice sub-$300,000 investors in Melbourne, but 'brick veneer' is the word in regional Victoria: HTW

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The Kew property fronted since May by the popular restaurant St Katherine's, aka as St Kat's – and leased to MasterChef's George Calombaris and his business associate Shane Dalia – has been sold.
It fetched $4.31 million when offered through Jones Lang LaSalle in conjunction with Fitzroys.
The Cotham Road property was reportedly sold to an investor from China.
The investor will secure about $251,000 annual rent from the St Katherine's tenancy.
While Cotham Road is not considered a super-prime retail strip by analysts, the asset traded at a yield of 5.83%.
The two-storey, 635-square-metre building sits on a 515-square-metre block with long-term redevelopment potential.
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jchancellor-FAypfDUnLy

St Kat's, George Calombaris's Kew premises, gets Chinese landlord

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The Australian population is highly centralised with 64.1% of all residents living within a capital city. In fact, 55.6% of Australians live within the four largest capital cities: Sydney (20.5%), Melbourne (18.3%), Brisbane (9.2%) and Perth (7.7%).
Despite a preference for capital city living there are many key regional areas across the country that are home to a significant population. This week we look at the recent performance of the 10 largest regional markets.
Although most Australians call a capital city home, the 10 largest regional housing markets account for 16.2% of the national population and every one of these regions has a greater population than that of Hobart (216,656) and Darwin (128,073).
In fact, the Hunter, Gold Coast, Illawarra and Sunshine Coast regions are respectively the 6th, 7th, 8th and 10th most populous regions of the country. It is also no surprise that all of the most populous regional areas of the country adjoin the coastline and all except for the south-west region in Western Australia are located on the country’s eastern seaboard.
Given that all of these regions are coastal, many have experienced relatively weaker housing market conditions over recent years. There are two main reasons for these conditions: firstly, the downturn in the tourism sector brought on by the higher Australian dollar and the global financial crisis (GFC) and, secondly, the slowdown of migration to these areas, known as ‘sea-change’, which was so prevalent in many of these areas before the GFC.
Click to enlarge
<a title="Click to enlarge" rel="shadowbox" href="/images/stories/2012/09/rpsept18.gif"><img src="/images/stories/2012/09/rpsept18thumb.gif"></a>
Source: <a href="https://www.myrp.com.au/" target="_blank">RP Data</a>
Across these regional markets, detached house values have recorded quite a varied performance over the past year. Half of the regions have recorded value falls with the other half recording an increase, the performances have varied from a -5.2% decline in values across the far north region of Queensland (which includes areas such as Cairns, Atherton and Cassowary Coast) to a 7.4% increase in values within the mid-north coast region of New South Wales (which includes major centres such as Coffs Harbor and Port Macquarie).
The five-year average annual change in house and unit values highlights the ongoing weakness in many of these coastal markets since the GFC. Although most regions have still recorded growth over the past five years, only the mid-north coast (6.8%pa) and Barwon (7.4%pa) have recorded average annual growth in excess of 5% pa over the period.
 
<hr class="system-pagebreak">
 
The weakness is further highlighted by the fact that each region has recorded a decline in house values since the market peak. Queensland regions have typically recorded the largest declines, with values down -12.4% from their peak on the Gold Coast and -11.4% in the far north region.
<img width="470" src="/images/stories/2012/09/rpsept182.jpg">
Regional housing markets are largely dominated by detached houses as opposed to units. As a result, mid-north coast and Wide Bay-Burnett do not have enough unit sales to calculate reliable statistics. Nevertheless, the remaining regions have all seen unit values fall over the past year with the south-west region of WA (which extends from Mandurah south to Manjimup) the one exception, recording a large 12.1% increase in unit values.
The growth (or decline) in unit values over the past five years across these markets has been greater than those for detached houses, highlighting particular weakness in this market. This is due to different factors across certain markets but can broadly be attributed to the downturn in demand for holiday apartments, downturn in the tourism sector of the economy and overbuilding of units in some areas.
The weakness in regional unit markets is further highlighted by the decline in unit values since the market peak. Across each region except for south-west WA the decline in unit values since the market peak has been greater than the decline in detached house values. In particular, there have been large declines in unit values in the Far North of Queensland (-20.3%), New South Wales’ Illawarra (-19.7%) and Gold Coast regions (-16.4%) since the respective market peaks.
<img width="470" src="/images/stories/2012/09/rpsept183.jpg">
Overall, the major regional markets have largely underperformed their respective capital city housing markets over recent years. With the tourism sector remaining weak, some excess supply in select regions still needing to be absorbed and no sign of a return of the "sea-changers", these markets are broadly expected to continue to underperform over the coming year.
In stating this, values remain below their peak (significantly so in certain regions) and there are some attractive purchasing opportunities when you consider how far values have fallen and for how long they have underperformed in certain regions. Anyone looking to purchase must keep in mind that capital gains over the coming years are likely to be well below those experienced before the GFC and any recovery in values back to their previous peaks is likely to be a slow and gradual process over several years.
Cameron Kusher is senior research analyst at <a href="https://www,myrp.com.au" target="_blank">RP Data</a>.
This article originally appeared on <a href="https://www.smartcompany.com.au/index.php" target="_blank">SmartCompany</a>.
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Fewer sea-changers hurt performance of regional coastal property markets: RP Data's Cameron Kusher

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The south-west Sydney suburbs of Cecil Hills and Casula were the two Sydney suburbs with the biggest median house price rises over the first half of 2012, according to Australian Property Monitors.
Median house prices in the south-west region of Sydney rose 4.5% over the first half of 2012.
It was the strongest-performing region in Sydney. All suburban Sydney regions recorded median house price growth, with the exception of the northern beaches, where prices fell 2.2%.
Sydney suburban areas were the strongest-performing areas in the country over the first six months of 2012, according to APM senior economist Dr Andrew Wilson.
Results for house listings in Cecil Hills are dominated by off-the-plan houses in Mirvac’s master-planned Elizabeth Hills development.
The 56-hectare development will eventually include 650 sites over the next two to three years.
The development consists of land from $315,000 to $430,000, and three- and four-bedroom homes from $460,000 to $590,000 respectively.
There have been 196 lots released since November 2011, of which 129 had sold by August 1.
The next stage of 10 detached homes was released on September 15.
Agent Mark Nejasmic from United Realty West Hoxton has worked in the area for the last 10 years and says inquiry levels have been very high over the past year.
“To say you live in that area is quite a good thing. It’s a lovely little pocket. And there’s a shortage of stock there. Anything that goes on the market gets good enquiry, and they get over market value.”
Nesjamic is selling <a href="https://www.realestate.com.au/property-house-nsw-cecil+hills-110905763" target="_blank">42 Athlone Street</a>, a four-bedroom house on 519 square metres.
“The property is quite indicative of the area certainly.”
“That particular property we’ve just got a new buyer for. People doorknocked and offered more than the asking price.
“The property was valued at $550,00 to $580,000 and yet we’ve achieved more than $600,000, with  three or four buyers interested.”
He says the area is attracting a mix of younger families and older couples.
 
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Raine &amp; Horne Cabramatta agent Van Nguyen says prices have risen in the last three months.
“There was a six-month period where things were quiet and it really picked up in July, August and now September. I’d agree with rises of 4% to 5%."
Nguyen is selling a four-bedroom house for $569,000.
In Casula, LJ Hooker agent Alen Toma says prices haven’t actually changed much at all over the last 12 months.
“I’ve seen a bit of activity in Casula, with more buyers in the area not a shift in prices.”
“I feel prices have been steady for the last 12 months.”
There are a number of developments coming in around Casula, which Toma says hasn’t affected prices much at all.
Toma is selling <a target="_blank" href="https://casula.ljhooker.com.au/4RJGRH">50 Roth Street </a>at auction with an expected price of $450,000 to $480,000.
He says the property is a very typical house in the area.
Toma says most people buying in the area are young families and first-home buyers.
He predicts prices will stay steady in the next year, with a possible uptick in buyer inquiry in line with Spring.
Agent David Farrugia from Macquarie Real Estate Casula agrees that prices haven’t changed much.
“If anything they’ve come down. We haven’t really seen an increase in prices in the higher bracket at all.
“The increase is probably in the lower bracket of Casula. Anything under the $400,000 mark – townhouses or villas or older-style homes.”
“A lot of first time home buyers are getting into the market before the grant finishes. I think people might be paying more than market value just to get in before the grant ends.”
“But anything over $500,000 and you’re struggling.”
He says he’s surprised more investors aren’t buying in the area considering the high rents.
“The yields are quite high. Although a lot of people have quite high incomes, a lot of them can’t afford to get a deposit together.”
“There’s basically a vacancy rate of zero as banks are getting tighter with their lending.”
Farrugia is selling <a href="https://www.realestate.com.au/property-house-nsw-casula-111404543" target="_blank">16 Plum Close</a> for $619,000. The price has been revised down from $639,950.
He says the home is one of the nicer ones in the area and is not necessarily indicative of the average property in Casula.
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Sydney's Cecil Hills and Casula top price growth in last six months: APM

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Aquila Shoes has secured retail space on Little Collins Street, Melbourne, which will be its 27th Australian store.
It has leased a 150-square -metre store for a six-year term. The lease was negotiated by Savills Australia  state retail director Michael Di Carlo.
The lessor is a private Asian investor.
The gross annual rent that shoe manufacturer and distributor will pay is about $300,000 for the shop at 264-274 Little Collins Street.
The Melbourne brand was founded by Tony Longo in 1958.
It now employs the third generation of the family.
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Aquila to open 27th Australian store on Little Collins Street

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Some 64% of Australia's population live in our eight capital cities, so property investors should consider purchasing in these areas, where demand is highest.
{qtube vid:=nBFw79_FfIk&amp;list=PLC827F0952BF6BF47&amp;index=1&amp;feature=plcp}
 
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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Michael Yardney's video commentary on what property investors can learn from census data

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<img src="/images/stories/2012/09/315.gif">
The estimated gross face rent that Coty Australia, the global cosmetics and fragrance importer/distributor will pay to lease a 300-square-metre office space at 7 Howard Street, Richmond in a three-year deal negotiated by Leah Baxter of Colliers International. Coty Australia is set to relocate from former suburban premises. The company will occupy level 1 in a new, architect-designed building.
 
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<img src="/images/stories/2012/09/110k.gif">
The rumoured annual rent that equipment hire firm Shore Hire to lease industrial space at 19 Chambers Road, Altona, in a deal negotiated by Nathan Bingham and Stephen Newsham of Colliers International. The length of the lease is five years and covers a 10,000-square-metre land area. Shore Hire was bought out by publicly listed group Coates Hire close to three years ago. “This deal underpins the significant operating base of the company in the key eastern seaboard cities of Brisbane, Sydney and Melbourne,” says Bingham. The property is owned by the Bradica Group.
 
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<img src="/images/stories/2012/09/126.gif">
The estimated net annual rental per square metre – based on current rents achieved in the centre – that outdoor products retailer Anaconda will pay to lease a 2,200-square-metre showroom in Hoppers Crossing. Located in the Hoppers Crossing retail bulky goods precinct at 319 Old Geelong Road, the store recently underwent significant refurbishments, updating the space into a quality showroom. The deal was negotiated by CBRE’s Scott Littler on behalf of a private lessor, with Anaconda taking a 10-year lease. Littler says Hoppers Crossing remained one of the most tightly held bulky goods precincts in the state, with CBRE negotiating several leases in the area recently, including a 1,374-square-metre showroom at 269 Old Geelong Road to Focus on Furniture. Hoppers Crossing is located approximately 25 kilometres west of the Melbourne CBD.
 
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<img src="/images/stories/2012/09/575k.gif">
The net annual rent that Premium Showers &amp; Wardrobes will pay to lease a 13,750-square-metre manufacturing facility at 2-8 Oxford Road in Laverton North. This is the largest industrial lease to a manufacturer in more than three years in Melbourne’s west has been facilitated by Colliers International agents Nathan Bingham and Stephen Newsham. Premium Showers &amp; Wardrobes, a major manufacturer and supplier of shower screens mirrors, wardrobes, cabinets and joinery to the residential and commercial property sectors.  “The property was purpose-built for global automotive manufacturer Mahle about eight years ago, but Mahle have since moved their manufacturing base offshore,” says Bingham.
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Commercial leasing: Outdoor store Anaconda rents bulky goods space in Geelong

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Perth rents are continuing to rise and there is no respite in sight, says the Real Estate Institute of Western Australia.
<a target="_blank" href="https://twitter.com/REIWA"><img src="/images/stories/2012/09/reiwatweet.jpg"></a>
"I can't see any signs on the horizon that will reduce the demand for rentals," says REIWA's David Airey. "It appears Perth is a popular place to live, we've got an ongoing shortage of rental supply, so it's likely that rents at the very least will remain stable but are likely to have increases."
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No end in sight to Perth rent rises, says REIWA: Tweet of the day

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First-home buyers who wait until a government incentive is introduced or even change the type of property they are buying to fit in with an incentive requirement could end up paying a lot more, according to celebrity property adviser Andrew Winter.
Winter, the host of Selling Houses Australia, says the $15,000 incentive for new home purchases introduced last week in Queensland and to begin in NSW on October 1 has the potential to create a “mini local property boom”.
Writing in the weekend News Ltd papers, Winter says when an incentive is withdrawn buyers rush to beat the cut-off date while sellers race to list.
Conversely, when the date for a new incentive is announced, buyers wait until the time they can get their hands on government dollars, creating a scenario where buyers outnumber sellers.
Winter says the golden rule to buying well is timing, which means avoiding boom conditions “such as times when there are far more buyers than sellers”.
“Those vendors with time on their hands sit and wait to pounce on those newly cashed-up buyers, meaning prices often rise.
“My advice is to buy when you are ready, buy what you want, do you research and then review the incentive game,” says Winter.
“Unlike any other purchase, no house or unit ever comes with a genuine fixed recommended retail price, so a $15,000 handout has little value if you could have secured the home for $30,000 less a month ago.”
Despite the warning, Winter says the biggest beneficiaries of government incentives appear to be first-home buyers (who can access the additional funds) and investors (who can push up their selling prices).
However, the losers are sellers who have to sell at a time when buyers pull back from the market, while state governments also apperar to give no thought to home owners “struggling in a trade-up or trade-down scenario”.
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