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“Minister Chanthivong and his team have shown real leadership in replacing an outdated two-year bond with cover that matches the lifespan of the buildings people are buying into.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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Chinese property buyers have the potential to create top-end housing market momentum in key cities across the world, including Sydney, according to international real estate group Savills.
But not until Chinese currency and offshore investment rules are relaxed, says Savills global research director Yolande Barnes.
“Emerging markets, and Chinese buyers in particular, still have the potential to move other world city markets,” the report, Savills World Cities Review Index, suggests.
“The unleashing of high-net worth Chinese investor monies could boost London’s prime markets by 15% and the same must be true of other top cities, but this will require the relaxation of currency export controls and overseas ownership restrictions.”
Meanwhile China-based buyers have continued their acquisition of prestige Sydney property, the latest being a mainland Chinese family who've spent $9 million plus on Elysium (pictured below), a Hunters Hill waterfront, through Savills agent Adam Ross last month.
<img src="/images/stories/2012/09/elysium2.jpg">
The six-bedroom, five-bathroom Le Vesinet Drive, Pulpit Point, property on a 992-square-metre block has a Turkish steam bath.
<img src="/images/stories/2012/09/elysium1.jpg">
It was briefly listed for sale in 2005 with $10 million hopes. it was built in 2002 with its Sydney Harbour Bridge views in mind, with attention to detail paid to its design and construction. 
White marble floors greet guests in the grand entry vestibule, which leads to the elegant formal living and dining rooms and on to a covered terrace capturing north-easterly views. An opaque glass and timber door, framed by tall rosewood architraves, leads into the kitchen, where antique Chinese doors conceal a huge pantry. Next to the kitchen is a casual dining area that flows into an informal living room opening to another viewing terrace.
<img src="/images/stories/2012/09/elysium3.jpg">
The billionaire property and media tycoon Chau Chak Wing, who is an Australian citizen, <a href="https://www.propertyobserver.com.au/international/china-s-property-bubble-billionaires-getting-richer-but-face-government-cooling-efforts/2011090851473" target="_blank">has owned on the same street since paying $3 million </a>in 1995 to buy within the Comrealty-developed Pulpit Point estate.
<img src="/images/stories/2012/09/elysium4.jpg">
Sydney ranked among the international cities showing positive prestige price growth, although Hong Kong led the Savills World Cities Index for the first?half of 2012 with a price rise of?just over 7%.
<img src="/images/stories/2012/09/elysium5.jpg">
<table style="width: 470px;" border="1" cellspacing="0" cellpadding="0"><tbody>
<tr>
<td rowspan="2" valign="top" width="111">
CITY 
</td>
<td rowspan="2" valign="top" width="113">
Capital growth Jan-June 2012
</td>
<td rowspan="2" valign="top" width="113">
Capital growth
June-Dec 2011
</td>
<td rowspan="2" valign="top" width="94">
Capital growth since June 2005
</td>
<td colspan="2" valign="top" width="151">
Rank by capital value
</td>
</tr>
<tr>
<td valign="top" width="76">
June 2012
</td>
<td valign="top" width="76">
June 2005
</td>
</tr>
<tr>
<td valign="top" width="111">
Hong Kong
</td>
<td valign="top" width="113">
7.4%
</td>
<td valign="top" width="113">
-3.4%
</td>
<td valign="top" width="94">
105.9%
</td>
<td valign="top" width="76">
1
</td>
<td valign="top" width="76">
1
</td>
</tr>
<tr>
<td valign="top" width="111">
Moscow
</td>
<td valign="top" width="113">
5.5%
</td>
<td valign="top" width="113">
4.1%
</td>
<td valign="top" width="94">
113.5%
</td>
<td valign="top" width="76">
8
</td>
<td valign="top" width="76">
8
</td>
</tr>
<tr>
<td valign="top" width="111">
Sydney
</td>
<td valign="top" width="113">
3.7%
</td>
<td valign="top" width="113">
-2.0%
</td>
<td valign="top" width="94">
31.7%
</td>
<td valign="top" width="76">
9
</td>
<td valign="top" width="76">
6
</td>
</tr>
<tr>
<td valign="top" width="111">
London
</td>
<td valign="top" width="113">
2.8%
</td>
<td valign="top" width="113">
1.0%
</td>
<td valign="top" width="94">
34.7%
</td>
<td valign="top" width="76">
2
</td>
<td valign="top" width="76">
2
</td>
</tr>
<tr>
<td valign="top" width="111">
Singapore
</td>
<td valign="top" width="113">
1.5%
</td>
<td valign="top" width="113">
3.6%
</td>
<td valign="top" width="94">
110.3%
</td>
<td valign="top" width="76">
4
</td>
<td valign="top" width="76">
7
</td>
</tr>
<tr>
<td valign="top" width="111">
New York
</td>
<td valign="top" width="113">
1.1%
</td>
<td valign="top" width="113">
2.0%
</td>
<td valign="top" width="94">
10.5%
</td>
<td valign="top" width="76">
7
</td>
<td valign="top" width="76">
3
</td>
</tr>
<tr>
<td valign="top" width="111">
Tokyo
</td>
<td valign="top" width="113">
-0.3%
</td>
<td valign="top" width="113">
-0.2%
</td>
<td valign="top" width="94">
42.9%
</td>
<td valign="top" width="76">
3
</td>
<td valign="top" width="76">
5
</td>
</tr>
<tr>
<td valign="top" width="111">
Mumbai
</td>
<td valign="top" width="113">
-1.7%
</td>
<td valign="top" width="113">
0.0%
</td>
<td valign="top" width="94">
149.7%
</td>
<td valign="top" width="76">
10
</td>
<td valign="top" width="76">
10
</td>
</tr>
<tr>
<td valign="top" width="111">
Shanghai
</td>
<td valign="top" width="113">
-2.6%
</td>
<td valign="top" width="113">
0.1%
</td>
<td valign="top" width="94">
137.3%
</td>
<td valign="top" width="76">
6
</td>
<td valign="top" width="76">
9
</td>
</tr>
<tr>
<td valign="top" width="111">
Paris
</td>
<td valign="top" width="113">
-3.4%
</td>
<td valign="top" width="113">
4.4%
</td>
<td valign="top" width="94">
47.6%
</td>
<td valign="top" width="76">
5
</td>
<td valign="top" width="76">
4
</td>
</tr>
</tbody></table>
Source: Savills
 Sydney was up 3.7% in a period when the residential markets of the world’s leading cities had become more localised.
"The strongest price growth has been seen in those world cities that were buoyed by domestic demand, while international investor cash has retreated to a few core markets with established, long-term investment credentials," the report says.
Paris was the worst global city in the Savills index, with prices falling because of the ongoing eurozone crisis and proposed increases to taxes on high-end property and investor gains that followed the election of President François Hollande, who's set to impose taxes on the rich. 
"Paris is the biggest loser of 2012 and faces a period of uncertainty," the report notes, adding further price falls now seem unavoidable in the French capital. London is the potential beneficiary as international money seeks an alternative haven within the geography of Europe, but outside the eurozone.
London remains the second most expensive world-class market, but it too faces uncertainty regarding the impact of new stamp duty rules, announced in the March budget, which has already slowed activity and price growth at the top of the market.
"A period of flat prices now seems likely, though market fundamentals (high occupier demand and limited supply) favour growth longer term," the report notes.
Barnes says that New York is poised for a strong recovery with steady price growth, low mortgage rates, short supply and growing offshore demand.
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jchancellor-FAypfDUnLy

Hunters Hill mainland Chinese prestige property purchase signals emerging international trend

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<img src="/images/stories/2012/09/57k.gif">
The estimated annual rent hat Italian gelato operators Gelatissimo will pay to lease 89 square metres of premium retail space in Toowoomba’s central business district on a five-year deal. Gelatissimo has leased the former ‘Amazing Loans’ site on the prominent city corner of  Ruthven and Margaret streets in a deal negotiated by Ray White Commercial Toowoomba’s Mark Wynhoven and John Smith. Gelatissimo is spending $400,000 on renovating the site to cater for its new business. Gelatissimo dates back to the 1980s in Sydney, where the franchise began, and has it since then has grown to be one of the largest gelato franchises in the world, with established operators in south-east Asia, the Middle East and Italy.
 
<hr>
 
<img src="/images/stories/2012/09/450.gif">
The initial gross rentals per square metre per annum that two tenants will pay to lease space a National Trust-classified, boutique building at the northern end of the Sydney CBD. The remaining whole floors at 1 Barrack Street have now been fully leased in deals negotiated by Ray White Commercial office leasing directors John Skufris and Anthony Harris. Online advertising business Tribal Fusion has secured a 196-square-metre tenancy, and recruitment specialist Vantage Recruitment will occupy 200 square metres at level two. Both leases are on three-year terms. The three-storey building previously had media relations project group Cannings Corporate Communications as its major tenant.
 
<hr>
 
<img src="/images/stories/2012/09/415k.gif">
The annual net annual rental plus outgoings that products and services supplier to utility and energy organisations Utility Asset Management will pay on a sub-lease on Pellicano’s M2 Estate at Dandenong in Melbourne’s south-east. The 2 National Drive property comprises a 5,850-square-metre, office and warehouse building that had been purpose built for lessor Irwin Industrial Tools, which had decided to outsource its warehousing requirement. The leasing deal was negotiated by Savills director Lynton Williams.
 
<hr>
 
<img src="/images/stories/2012/09/100.gif">
The annual rent per square metre industry sources estimate Gold Coast business Wear Parts Australia will pay to lease 1,961-square-metre standalone industrial building at 20 Barnett Place in Molendinar on the Gold Coast. The five-year lease deal with a five-year option was negotiated by Pat Cavanagh of Colliers International. Wear Parts Australia has links to the mining industry, supplying component parts for large earthmoving equipment around Australia.
 
<hr>
 
<img src="/images/stories/2012/09/78k.gif">
The annual rent that Melbourne-based All Vehicle Accessories will pay to lease an 820-square-metre warehouse at 20a Lathe Street, Virginia, north of Brisbane The space has been leased for three years, with the deal negotiated by Steve Black from Ray White Commercial Pine Rivers.
 
<hr>
 
<img src="/images/stories/2012/09/69520.gif">
The gross annual rent that Micron Mining Components will pay to lease 1/33 Industry Court, Eagle Farm, Brisbane. The three-year lease was negotiated by Daniel Wilson of Ray White Industrial Milton.
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lschlesinger-FZcF9M3vE6

Commercial leasing: Gelato operator Gelatissimo leases in Toowoomba

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The Queensland government will tomorrow announce plans to scrap the $7,000 first-home owners' grant and replace it with a $15,000 handout only available for those first-home owners buying a new home.
The details of the changes to first-home owner handouts, leaked to the Courier Mail, will be announced by Queensland Treasurer Tim Nicholls tomorrow when he delivers the 2012-13 state budget at 2.30pm.
It is less than the $17,000 available to first-home owners buying or building a new home under the previous Bligh government, who were eligible for the $7,000 first-home owners'grant and the $10,000 Building Boost.
The Building Boost ended on April 30 (applications could be lodged up until August 30) and was available to all classes of buyers.
The Queensland changes mirror a similar move by the NSW state government in its June budget, which will mean the end of the $7,000 first-home owners’ grant on October 1, replaced by a $15,000 handout for those buying a new home, including homes bought off the plan.
The changes to Queensland first-home owner grants follows the decision by Queensland Premier Campbell Newman to <a target="_blank" href="https://www.propertyobserver.com.au/tax/queensland-to-introduce-owner-occupier-stamp-duty-cuts-from-july-1-as-other-state-schemes-come-to-an-end/2012062655289">reinstate the transfer duty home concession scheme from July 1.</a>
It provides a concessional stamp duty rate of 1% up to a value of $350,000, with stamp duty charged at normal rates for the remaining value of the home purchase.
The Real Estate Institute of Queensland (REIQ) expressed disappointment at the decision and warned that thousands of Queensland first-time property buyers might delay purchasing their first homes following the scrapping of the long-standing handout.
“REIQ analysis of Office of State Revenue (OSR) figures show only 24% of first home buyers opted to buy a new home when the First Home Owners Boost, which featured up to $21,000 for new-builds, was in play during the GFC,” says REIQ chief executive Anton Kardash
The REIQ expects the decision to remove the $7,000 grant in favour of a $15,000 grant for new homes will impact the majority of prospective first-home buyers.
‘‘The main reason for this is that new homes are usually too expensive for first-time buyers and are often located in outlying suburbs where young people do not necessarily want to live.
“New units and townhouses can also be more expensive than established and often have higher body corporate fees than older apartments.”
Kardash says the removal of the grant failed to take into consideration the complexity of the real estate market and comes as OSR figures show that over the June quarter more than 5,400 first-home owner grants were paid in Queensland, compared with 4,000 over the same period in 2011.
‘‘The first-home buyer segment of the market has been one of the few positives over recent times, so we are likely to see their level of activity decrease significantly once the grant is removed next month,’’ says Kardash.
Not surprisingly, the announcement was welcomed by residential developer Stockland, which described it as a “massive shot in the arm for the state economy” and one that would “underpin the future of the state’s housing industry” and provide thousands of jobs.
“We fully support the Newman government’s critical boost to the Queensland housing market – it is good news for the entire state because it will increase confidence, generate thousands of construction jobs, and bring home ownership within reach of more young Australians,” says Stockland Queensland general manager Kingsley Andrew.
“An extra $15,000 is a significant saving for first home buyers and coupled with no stamp duty, today’s announcement creates an unprecedented incentive from the Queensland government.”
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Queensland set to follow NSW by scrapping $7,000 first-home owners' grant in favour of $15,000 handout for new home buyers

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Most people who have any interest in the housing market will appreciate that the performance of home values can vary broadly based on a range of factors. Geographically, for example, we have seen Darwin values rise by more than 8% over the first eight months of the year, while Melbourne values have fallen by 2.6% over the same time frame.   Across the broad housing types there are differences as well, with unit markets generally showing stronger conditions compared with the detached housing market.
We are also seeing significant differences across price segments in the market, with the most expensive housing markets generally underperforming compared with the more affordable markets.  Across the combined capital cities, the most expensive 20% of suburbs have recorded fall of 8.5% since the market peak, compared with a 4% fall across the most affordable 20% of suburbs and a 4.4% fall across the broad middle 60% of suburbs.
Click to enlarge
<a href="/images/stories/2012/09/rpsept10.gif" rel="shadowbox" title="Click to enlarge"><img src="/images/stories/2012/09/rpsept10thumb.gif"></a>
As can be seen from the graph above, the most expensive markets have outperformed the broader capital city average during the growth phases but underperformed during the corrections.  Over the past five years the annual rate of growth across the most expensive segment of the market has been just 1.7% per annum, compared with a growth rate of 2.9% per annum across the most affordably priced suburbs and 3.3% per annum across the broad middle-priced suburbs.
The trends across the price segments aren’t uniform across all of the capital cities.  Brisbane and Adelaide are showing the opposite performance, with the more expensive price segments of the market returning a better result for dwelling values compared with the more affordable priced suburbs.  This is interesting in the sense that Adelaide and Brisbane are also the most affordable mainland capital cities to be buying in (Adelaide’s median dwelling price is $371,500 and Brisbane’s is $405,000).  The weaker-performance in these markets can be linked with mortgage repayment pressures being felt across the mortgage belts of both these cities, particularly in south-east Queensland, where many of the most affordable suburbs in the region have shown a higher-than-average level of mortgage arrears.
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<a href="/images/stories/2012/09/rpsept101.gif" rel="shadowbox" title="Click to enlarge"><img src="/images/stories/2012/09/rpsept101thumb.gif"></a>
The performance across price segments highlights why it is so important to drill down below the capital city boundaries in order to truly understand housing market conditions.  Prospective home buyers and sellers should be looking at the dynamic of the housing market from a localised perspective ensuring they are in tune with market conditions at both the macro and micro level.  There are bound to be significant differences in how markets are performing.
Tim Lawless is national research director of <a target="_blank" href="https://www.myrp.com.au/" rel="nofollow">RP Data.</a>
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Affordable end of the property market outperforming top end of town

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Acclaimed for its eclectic European-styled interiors amid lush gardens with sweeping ocean views, Rae's on Wategos Beach at Byron Bay has been put on the market for the first time in 20 years.

It's been listed by the entrepreneur Vincent Rae.
Located on a prized 1,049-square-metre beachfront Marine Parade block, the property is set for October 26 auction through Ray White Hotels agents Tony Bargwanna and Andrew Jolliffe in conjunction with Gerald Delany of Kay &amp; Burton in Melbourne. The agents have declined to give any indicative pricing.
The agents expect interest from hoteliers, but it would mostly likely attract considerable residential buyer interest. There is recent approval for a new underground car park, cocktail bar, lift, sub penthouse, spa area and a 200 square metre entertaining terrace.
It charges between $600 to $1380 a night.
Rae's is opposite the 1,406-square-metre record-setting holding bought by property developer Danny Goldberg for $15.68 million in boomtime 2006.
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Marine Parade's most recent beachfront sale has been the<a href="https://www.propertyobserver.com.au/new-south-wales/watermark-at-wategos-beach-sells-five-years-after-initial-listing-for-just-shy-of-%2410-million/2012042654431" target="_blank"> Watermark at Wategos</a> (pictured above), a duplex apartment building on a 656-square-metre block, which sold quietly earlier this year for $9 million through Graham Dunn of Byron Bay Property Sales to David Knappick, who made his fortune from his shareholding in Felix Resources.
Rae's guesthouse was built by Ruth Harris who established a restaurant there called Argentine Ant Cantina and then La Belle Epoque, neither of which were especially successful although Liberace did play the piano at the then French medieval-styled mansion around which Salvador Dalí had a hand in its early 1970s tropical garden design, presumably a sketch or two done from afar.
Wanting $2 million at its June 1994 auction, Harris later sold for $1,375,000 in 1994 to Rae, who developed it into an iconic luxury retreat once rated by Conde Nast Traveler magazine in its "Top 25 Hotels in the World" in 1997.
Over the years its guests have included Richard Branson, Harvey Keitel, Gwyneth Paltrow, Kate Winslet, Tom Cruise, Meg Ryan, Russell Crowe, Keith Richards, Pink, Elle Macpherson and Nicole Kidman.
Rae says that at 50 he's ready to move on.
"I've had a lot of interest over years but I've never wanted to sell," he told News Ltd.
"I've had discussions with Richard Branson over the last year or two, he loves the place.
"You would love to think it will continue on. She is a great old dame, that building.
"But at the end of the day I'm looking for the best result, and if a Packer came in and wanted to pay top money and turn it into a house I could walk away with a smile on my face."
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Eclectic Rae's for sale as coal tycoon David Knappick picks up Watermark at Wategos

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In the 30 years or so that I’ve been running businesses, I’ve noticed that consumer sentiment is often created by a cultural environment rather than what is actually happening in folks’ lives.
This can work in favour of over-exuberance, or it can create gloom. We’re currently in one of the negative phases, but there’s another way to treat the “bad” economic news, and that is to see a free market economy as something that forces the constant reinvention of just about everything.
I’ve been watching the financial troubles of the Darrell Lea chocolate and lolly brand, which has been in administration. Letting go 418 people is not a good thing, however the system works well enough for a new owner to step in and buy Darrell Lea and reinvent what that business does.
The signs of positives defying the negatives are all around us. Yes, Kodak went out of business, but other companies have reinvented personal photography with affordable, high-quality cameras that don’t require film. And Australian steel-making may be under pressure, but there was OneSteel, quietly making itself a miner of iron ore, not letting itself be forced into irrelevance.
Australian business owners and householders can train themselves to think this way as well. There is a way forward out of adversity: you just haven’t found it yet. It could be as simple as rethinking what you sell. The ability to up-skill, find another job, reinvent yourself as a different proposition to an employer, has never been better.
Take the uncertainty created by the European crisis and the US slowdown. It has played on our minds and held back our own economy, but one of the benefits has been a cash rate that – at 3.5% – is in the lowest range of the past 20 years.
How good is this? Ask any baby boomer who was paying 19% on their first mortgage.
There are many people suffering right now, but I urge people to have a look behind some of the negative economic stories: inflation ran at around 1.2% for the year to June, and the wage price index was sitting at 3.6%. So wages are increasing at a greater rate that inflation.
That isn’t bad, especially taken with a low unemployment rate of 5.2% in July. Compare it with the United States at 8.3%, or the EU at 10.4% unemployment in July.
And in a country where we all need a car, they are more affordable than they’ve been for a long time. A Ford Falcon in 1960 cost a man 60 weeks’ pay, while in 2012 it cost 30 weeks’ average male pay.
The economy will cause more businesses to close or to contract. But the important part is: what happens next? And in your own life, are you keeping your eyes open, preparing yourself for what happens next?
A market economy always provides the chance to start again. What’s your reinvention?
Mark Bouris is executive chairman of <a target="_blank" rel="nofollow" href="https://www.ybr.com.au/">Yellow Brick Road</a>, a financial services company offering home loans, financial planning, accounting and tax, and insurance.
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With interest rates and unemployment low, there are economic positive signs all around

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The median gross rental yield landlords are securing for units in Darwin, according to <a href="https://www.myrp.com.au/" target="_blank">RP Data.</a> The median unit price was $420,000 in August. 
 
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The median gross rental yield landlords are securing for units in Canberra, according to <a href="https://www.myrp.com.au/" target="_blank">RP Data.</a> The median unit price was $$414,500 in August.
 
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The median gross rental yield landlords are securing for units in Brisbane, according to <a href="https://www.myrp.com.au/" target="_blank">RP Data.</a> The median unit price was $350,000 in August.
 
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The median gross rental yield landlords are securing for units in Perth, according to <a href="https://www.myrp.com.au/" target="_blank">RP Data.</a> The median unit price was $395,000 in August.
 
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The median gross rental yield landlords are securing for units in Brisbane, according to <a href="https://www.myrp.com.au/" target="_blank">RP Data.</a> The median unit price was $350,000 in August. 
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The median gross rental yield landlords are securing for units in Adelaide, according to <a href="https://www.myrp.com.au/" target="_blank">RP Data.</a> The median unit price was $315,000 in August.
 
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The median gross rental yield landlords are securing for units in Hobart, according to <a href="https://www.myrp.com.au/" target="_blank">RP Data.</a> The median unit price was $250,000 in August.
 
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The median gross rental yield landlords are securing for units in Melborne, according to <a href="https://www.myrp.com.au/" target="_blank">RP Data.</a> The median unit price was $428,750 in August.
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Darwin landlords securing highest rental yields for units: RP Data state-by-state analysis

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A historic Parramatta bank has sold for $7.1 million to a Hong Kong-based investor.
The landmark Westpac Bank site in Church Street was first taken up by Bank of NSW in 1874.
<a target="_blank" href="https://www.propertyobserver.com.au/retail/historic-westpac-parramatta-bank-listed-with-%2475-million-plus-hopes/2012072055674">The imposing sandstone building</a> on the site was built in 1938.
Agent Simon Staddon from Burgess Rawson Sydney says the sale is very strong given the nature of the lease.
“The price directly reflected the lease terms, which was to June 2015 plus option periods,” Staddon says.
“Investors can be nervous of option periods. That’s not to say the bank will move out, they probably won’t.
“If it was a new 10-year lease the yield would be a lot higher.”
The site is 100% leased to current tenant Westpac, which emerged from Bank of NSW in 1982.
The site earns a net income of $536,000 per annum plus GST. There are 2.5 years left on the lease with two five-year options.
“I’m of the opinion it was a very a good sale,” Staddon says.
The façade of the two-storey interwar stripped classical building is dominated by large ashlar sandstone columns, flanking timber four-panelled double doors.
Prior to and during its early life as a bank, the site was also operating as the Australian Arms Hotel.
After leasing for some years, the Bank of NSW acquired the two-storey inn, altered it and used it until 1938, when it was demolished and the current premises were built.
The land was originally granted to Governor Lachlan Macquarie’s superintendent of public works, Richard Rouse, in 1823. He built the Australian Arms Hotel in 1838.
The new building was designed by Spanish architectural firm Cosh and Dods, also responsible for Edwards Dunlop Building in Brisbane, Daily Telegraph Building in Sydney and St Brigid's Catholic Church at Red Hill.
The site now includes an adjacent three-storey modern building, bringing the total area to 1,275 square metres and includes on-site parking for up to nine cars.
Parramatta was established in 1788 and is the oldest inland European settlement in Australia.
The town was founded after the first fleet settlers built farms there to support the 1,000 convicts, soldiers and administrators. The site was the furthest navigable point on the Parramatta river, and the soil was deemed significantly better than that around Sydney Cove.
Growth in the area was minimal until the 1850s, when development was aided by the construction of a railway line. Then rapid expansion continued through the late 1800s, with Parramatta becoming a commercial hub for the western Sydney area.
Some of the most significant development in the city happened during the post-war years with industrial growth, immigration and the establishment of public housing estates.
The town is home to many of Australia's earliest colonial buildings, with more heritage-listed buildings in than Sydney's historic Rocks quarter.
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Historic Parramatta bank sells for $7.1 million

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Apartment building was the weakest performing construction sub-sector in August, as the Australian Industry Group (AIG) Australian Performance of Construction Index fell for the 27th consecutive month with no sign yet of a new financial year turnaround for the sector.
The index, compiled in conjunction with the Housing Industry Association, was down 0.4 points to 32.2 in August. Readings below 50 indicate a contraction in activity with the distance from 50 indicative of the strength of the decrease.
Survey respondents cited subdued conditions, a shortage of new tender opportunities, project delays and difficulty securing funding as impacting on growth.
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Source: AIG
In July, the index fell 2.2 points with AIG noting that the rate cuts in May and June had not spurred on any kind of rebound for the sector.
In August, apartment building was the weakest-performing sub-sector in the month – down 10.8 points to 22.1 – offsetting gains from the previous month.
Across the other sub-sectors, house building rose to 31.5 and commercial construction increased to 34, while engineering consecution fell to 35.7
The key new-orders sub-index fell 5.8 points to 28.8.
Commenting on the August results, AIG director of public policy Peter Burn said the continuing severe slump in residential and commercial construction was a drag on the overall economy.
“In August a weakening in the engineering construction sector contributed to a further worsening in the sector as a whole. Even though interest rates have fallen recently, the near-term outlook for the construction sector deteriorated with a further fall in new orders.
“The drop-off in new orders was particularly sharp for engineering construction and the apartment sub-sector," Burn said.
HIA chief economist Dr Harley Dale says that against a backdrop of five weak quarters for new dwelling investment, it is concerning that the first two index updates for 2012-13 “provide no sign of a turnaround”.
“The persistent weakness in the sub-indices for activity and new orders into the new financial year raises question marks as to whether we will see any tangible evidence of improved conditions in the construction industry by the December 2012 quarter. You would hope to be seeing a modest improvement by that quarter, but the odds of sighting that improvement appear to be lengthening," says Dale.
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Apartment building leads further contraction in construction sector in August

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Sydney developer the Barana Group has bought The Novotel Melbourne St Kilda for around $55 million following an international marketing campaign to sell the 211-room hotel.
The sale price reflects a yield of about 8%.
The hotel was put up for sale by Tourism Asset Holdings Limited in June and was marketed by CBRE Hotels’ Wayne Bunz and Mark Wizel.
Bunz told Property Observer in June that he was expecting it to sell for between $55 million and $60 million.
The Barana Group, led by chief executive Greg Shand, has added the hotel to its growing hospitality portfolio, which also includes Novotel in Melbourne at Glen Waverley.
“We’re investors in the hospitality space. That being said, we are primarily property investors, not necessarily just hotel investors,” Shand told the Australian Financial Review.
The Novotel Melbourne St Kilda is operated by Accor, the world’s biggest hotel and tourism group, and has a management agreement which still has nine years to run.
After that, vacant possession of the hotel will be available, “offering a myriad of future redevelopment options,” said CBRE in its marketing campaign.
Shand said the hotel was expected to be run as a passive hospitality investment for the term of the management agreement with Accor.
“Things may change, but if the hotel performs well, that’s what we’ll be doing.”
Wizel says the hotel was viewed by investors as an “attractive land banking opportunity”.
The Novotel St Kilda last sold in 2008 and before that changed hands for $21 million in 1992 in the aftermath of the early 1990s recession.
The recently refurbished hotel includes 211 rooms over six levels on a 5,791-square-metre site boasting 270-degree views of Port Phillip Bay.
The hotel is zoned residential 1 under the City of Port Phillip.
The hotel originally opened in 1991 as the St Moritz hotel, which became the Novotel Bayside in 1993 when Accor acquired the management rights and then Novotel St Kilda in 1999.
It was originally developed by Michael Lasky and Izzy Hertzog.
The hotel stands on the site of the St Moritz ice rink, which operated from 1939 to 1981, attracting more than 2000 people to its 1,850 square metres of ice.
The ice rink was destroyed by a fire in 1984.
The first building on the site was the Wattle Path Dance Saloon and Café, which opened in 1923.
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