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“Minister Chanthivong and his team have shown real leadership in replacing an outdated two-year bond with cover that matches the lifespan of the buildings people are buying into.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

Joel Robinson

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

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

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

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

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

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

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

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

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

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

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

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

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

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

Every First Home Owner Grant for new property by state

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

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

Staff Writer

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

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

alisonwarters@gmail.com

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

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

Ellen Walker

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

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

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

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The Queensland government is tipped to scrap mandatory water tanks for new homes in a move envisaged to save home buyers about $6,000.
The proposal follows lobbying by the Master Builders Association, according to the Australian Financial Review.
Queensland’s property sector has called on the Newman government to scrap many taxes, including stamp duty for off-the-plan residential sales and the land tax surcharge, to encourage more investment in the state.
The property and construction industry wants the initiatives in the Liberal-National Party government’s first budget next week.
Premier Campbell Newman is meanwhile expected to hail his government’s overhaul of planning laws and red tape when he addresses the property industry at a lunch in Brisbane today, the AFR noted.
The Property Council of Australia’s Queensland executive director, Kathy MacDermott, says although the planning changes are welcome, the sector still bears an unfair proportion of the state’s tax burden, contributing 29% or $3.8?billion to state taxation revenue.
The council seeks the scrapping of stamp duty for off-the-plan residential sales and the former state government’s 0.5% land tax surcharge.
The measures would help encourage more investment, especially from interstate, it suggests.
The mooted water tank decision has angered tank-makers, who since 2007 have installed 130,000 rainwater tanks in homes and 20,000 for commercial premises.
The Rain Harvesting Association of Australia says compulsory tanks have saved about 20 billion litres of water a year.
The association say it has also reduced infrastructure costs by up to $1.4 billion. But Master Builders director Paul Bidwell said the tanks hurt housing affordability, which had taken a hit since the financial crisis.
“We have no issue with rainwater tanks, we just don’t think they ought to be mandatory,” Bidwell says.
A spokesman for Queensland Housing Minister Bruce Flegg says no final decision has been made on whether to change the building code.
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jchancellor-FAypfDUnLy

 Queensland considers scrapping compulsory water tanks as housing affordability initiative

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Westpac is the standout big four bank, having increased its branch coverage across Australia over the past 12 years.
According to the Australian Prudential Regulation Authority (APRA), Westpac has 1,270 branches nationwide, making it the largest bank network in the nation.
Despite other banks extending their branch networks, ANZ has closed 16 branches in the past year, dropping from 827 branches to 794. Queensland and Victoria were the two states to feel the loss, with Victoria losing 13 branches and Queensland losing 10.
Property Observer has looked at the big four banks' 12-year history and provided a summary of branch changes and trends across Australian states.
Here is a breakdown of the big four banks over a 12 year period, starting with Westpac:
 
ACT    NSW     NT     QLD     SA   TAS    VIC   WA    TOTAL
2012         22        471      14        203    169     22       251    118     1,270
2011         22        473      14        205      170   22       233     118     1,257
2010         21        471       14     203     170    22    228      115     1,009
2009        10        280      10      166       51      22     193      104      863
2008        10         277        9       163      51     22      190      104      826
2007        11        278        9       162       49     22      188       102      821
2006        10       277        9        161       48     22      187      103      817
2005       10       278         9        158       48       22      187     102     814
2004       10      279        9          158       48       21      189      102      816
2003       10       279       9          159        48       21       192     102     820
2002       10       280      9           159       48        21      192         101     820
2001       10       276      9            155        48       21     187         100     806
 
Commonwealth Bank:
ACT – NSW – NT- QLD –SA – TAS – VIC – WA – TOTAL
2012        16         358        6        174      60      40       293       79       1,026
2011        16         357        6         170      60     40       293       77       1,019
2010        16         356       5          164      60     40      292      76       1,244
2009        17         359       5         157       60      40      292       77      1,007
2008       17        365         5          150        60    42       293      77       1,009
2007    17           366         5          150       60       43     293       76       1,010
2006    17            365         5        147       60       43      293         75       1,005
2005    17             367        5        146        61      43      293         74        1,006
2004    16             366         5         145         60      43     294         74     1,003
2003   16              368         5         144          60       43      294       74      1,004
2002   16              70           5         145           60       44       294      74      1,008
2001    18             387         6          151            61       44       307     79       1,053
 
 
 
ANZ Bank:
ACT – NSW – NT-  QLD –   SA –   TAS – VIC –   WA – TOTAL
2012         9            223        10      159        78         25        206        84        794
2011        17          222         10     169        79         26        219        85         827
2010        9            229         10     160        79         25          220     84       816
2009       9            227         10      160       79         24          218       85       812
2008      9            230        10        160       81          24           217      85       816
2007      8            218       10          156       80          23          212       81       788
2006       7           210      10            149       77         24        206         74        757
2005       7            204       10           146       75          23       201          68        734
2004       7             202        10            144       75       23         201       68       730
2003       7             203        10           143      75         23        201       67       729
2002      7            201           10          144      75         23         201     67        728
2001      7           207           8            151      77          24         209     72         755
 
 
 
 
NAB Bank:
ACT – NSW – NT- QLD –SA – TAS – VIC – WA – TOTAL
2012        9           238        5       160      47      10        203       76        748
2011       11          235        5       160      47      10        203       75         746
2010      10         232        5        161      48        9         202        74         741
2009      11         243        5        162      48      10         215        73        767
2008      11        241         5        167      49      10         218        73        774
2007      12       249        6        170       48      11         222        72        790
2006      11        248       6        170       47      11         222        72        787
2005      11         249      6        169       47      11         221         72       786
2004     11          250     6        169       47       11         221         72       787
2003     11          253     6        169      47        11         222         74       793
2002    11           267    6         174      52        10        248          73       841
2001     10          290    7        185      55         11        256          82       896
Source: The Australian Prudential Regulation Authority
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ntrotman-Et3xWpamVh

Westpac bank rollout beats others in big four, with 1,270 branches nationwide

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The most recent data on median home values shows that there are still affordable housing options across our most expensive capital city markets.
Housing affordability has been one of the most significant barriers to entry into home ownership across the country, particularly for first-time buyers. The relatively high cost of housing within the major regions of the country means that some have abandoned hopes of ever owning a home.
Although housing can be expensive in the most populous areas of the cities, the data shows that there are opportunities in most regions to enter into the housing market at relatively affordable prices; you just need to know where to look. Of course, most of these suburbs are going to be located further away from the city centre or buyers will have to purchase higher-density housing product rather than a detached house.
Within the detached housing market, 47.9% of suburbs throughout the combined capital cities have a median house value of less than $500,000 with 27.9% less than $400,000. Across regional markets there are a much higher proportion of suburbs with a median house value below $500,000 (87.4%).
Across the individual capital city markets, 92.1% of suburbs in Hobart have a median house value below $500,000, followed by: Adelaide (63.2%), Brisbane (60.5%) and Melbourne (44.9%). On the other hand, Darwin has far fewer suburbs with a median house value below $500,000 (16.4%) as do: Canberra (24.5%), Sydney (37.0%) and Perth (41.4%).
Click to enlarge
<a href="/images/stories/2012/08/rpsept4.gif" rel="shadowbox" title="Click to enlarge"><img src="/images/stories/2012/08/rpsept4thumb.gif"></a>
Source:<a target="_blank" href="https://www.myrp.com.au/"> RP Data</a>
Despite the fact that all cities except Hobart, Adelaide and Brisbane have a majority of suburbs with a median value above $500,000, there are still quite a large number of suburbs with values below $500,000 throughout most cities.
For those who simply can't afford the price of purchasing a detached house, the unit market offers a significantly greater opportunity to enter into ownership at a more affordable price point.
 
<hr class="system-pagebreak">
 
 
Across the combined capital cities, 81.2% of suburbs have a median unit value below $500,000 with 27.6% of suburbs below $300,000. Within regional markets of the country, 96% of all suburbs have a median unit value below $500,000 with 68.8% of suburbs having a median unit value below $300,000.
Across each individual capital city market, a majority of suburbs have a median unit value below $500,000. Once again, Hobart has the greatest number of suburbs below this benchmark (100%) followed by: Adelaide (96.5%), Brisbane (94.5%) and Darwin (88.9%). All other capital cities show a majority of suburbs below $500,000. However, Sydney has the lowest proportion (62.1%), followed by Perth (80.5%), Canberra (84.9%) and Melbourne (85.1%).
 
Click to enlarge
<a href="/images/stories/2012/08/rpsept41.gif" rel="shadowbox" title="Click to enlarge"><img src="/images/stories/2012/08/rpsept41thumb.gif"></a>
Source:<a target="_blank" href="https://www.myrp.com.au/"> RP Data</a>
The results indicate that the unit market provides a greater level of opportunity to enter into home ownership at a more affordable price point. Of course, units tend to not be as desirable as houses for many prospective buyers due to a number of factors, including the higher density of the population and the fact that units incur body corporate levies/regulations and, as a result, residents don't necessarily have the same freedoms as with a detached house.
Although units may not be as desirable as a detached house, it is important to note that they are often more abundant in inner city suburbs which have high levels of local amenity. As a result of this, they also enable residents to live in those suburbs in which they desire to live but could simply not afford to own a detached home.  A great example of this is a suburb like Sydney's Mosman; the median house value is out of reach of most purchasers at $2,143,585. However, the median unit value is a much more attainable $593,655 (albeit still quite expensive).
Housing affordability is likely to continue to be an issue for many Australians looking to enter into home ownership despite recent falls to mortgage rates and home values. The alternatives for those looking to enter the market at affordable price points appear fairly clear: outer more affordable suburbs, select regional markets or higher density housing options. Many aspire to owning a home in a highly sought after suburb. However, the reality is that this is an unlikely prospect for most of the population.
Cameron Kusher is senior research analyst at <a target="_blank" href="https://www,myrp.com.au">RP Data</a>.
This article originally appeared on <a href="https://www.smartcompany.com.au/index.php" target="_blank">SmartCompany</a>.
Sydney apartment building image by Brian Yap courtesy of <a target="_blank" href="https://www.flickr.com/">Flickr</a>.
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ckusher-ujnxiKuFQs

Affordable housing options even in most expensive capital city markets: RP Data's Cameron Kusher

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<img src="/images/stories/2012/08/40k.gif">
The net gross face rent per annum that Bartfeld Textiles Pty Ltd will pay to lease a brand new 275-square-metre showroom at 343A Reserve Road, Cheltenham. The lease is for three years plus renewal options. The lease was negotiated by Sasan Misaghian from Colliers International. The lessor is Keasment Pty Ltd. The showroom is part of a development featuring five recently built showroom/warehouses located just off Bay Road and in close proximity to Neapean Highway.
 
<hr>
 
<img src="/images/stories/2012/08/350kplus.gif">
The net annual rental that Australian energy supplier and infrastructure company Jemena will pay on a new five-year lease at Campbellfield in Melbourne’s outer northern suburbs. The 153 Barry Road complex comprises a modern office/warehouse of 3,810 square metres, large hardstand areas, two container-height roller doors and air-conditioned offices. The deal was brokered by Savills industrial director Michael Green.The lessor is a private Melbourne investor.
 
<hr>
 
<img src="/images/stories/2012/08/330k.gif">
Roughly how much electrical construction and maintenance company Electrix will pay to lease 3,300 square metres of industrial space at 1/8 Weddel Court, Laverton North within the William Angliss Estate in Melbourne’s West. The five-year deal was negotiated by Colliers International’s Nathan Bingham and Nick Saunders. The tenant was represented in the transaction by Stephen Stockdale of Stockdale Property. The total development area at Weddel Court is in excess of 10,000 square metres, and Colliers international has secured two transactions prior to the completion of construction, bring the development to over 75% occupancy.
 
<hr>
 
<img src="/images/stories/2012/08/420.gif">
The gross annual rent per square metre that Besmaw will pay to lease a 165-square-metre office at level 7, 221 Miller Street, from Birriga Investments. The lease term is three years plus a three-year renewal option, with the agreement brokered by Darren Kable of LJ Hooker Commercial.
 
<hr>
 
<img src="/images/stories/2012/08/327.gif">
 The gross annual rent per square metre that Works Perfect will pay to lease a 70-square-metre office at 97 Pacific Highway in North Sydney from Terra Nova Coach Tours. The lease term is two years plus a one-year renewal option. The lease agreement was brokered by Lana Asscher from Aspace Estate Agents.
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Commercial leasing: Electricity provider Jemena leases in Melbourne

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The decade of 2000 to 2010 was a special one. With the exception of 2008, property prices went in one direction – up!
Melbourne clearance rates highlight the occurrence. 
Click to enlarge
<a rel="shadowbox" href="/images/stories/2012/08/osborne.jpg" title="Click to enlarge"><img src="/images/stories/2012/08/osbornethumb.jpg"></a>
Source: <a target="_blank" href="https://www.reiv.com.au/">REIV</a>
According to The Economist, Australian house prices are still 36% overvalued.
Melbourne has been Australia’s most dominant city over the past decade. Over the past few years (2011-12), the Melbourne market has started to experience the hangover effects from the 2008 GFC government stimulus that artificially boosted auction clearance rates and helped propel the exuberance.
Sections of the market around the inner-city pockets are still showing resistance to the changing market conditions.
There are numerous examples of those sales that haven’t fared well in the current market. These are the places that have been sold twice within the past five years or have at least attempted to do so.
It's a list of properties that haven't been so lucky:
<img src="/images/stories/2012/08/osborne12.jpg">
43 Summerhill Avenue, Glen Iris
Then: May 15, 2010, sold for $1,491,000
Now: Back on market at $1,299,000
 
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<img src="/images/stories/2012/08/osborne11.jpg">
217 Rossmoyne Street, Thornbury
Then: May 1, 2010, sold for $920,000
Now: August 18, 2012, passed in at $790,000
Asking price $849,000 
 
<hr>
 
<img src="/images/stories/2012/08/osborne6.jpg">
27 Collett Street, Kensington
Then: February 9, 2008, sold for $580,000
Now: July 21, 2012, sold for $547,500
 
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<img src="/images/stories/2012/08/osborne7.jpg">
60A May Street, Fitzroy North
Then: October 30, 2010, sold for $1,440,000
Now: June 2, 2012, sold for $1,432,000
 
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<img src="/images/stories/2012/08/osborne4.jpg">
8 Bayview Street, Prahran
Then: June 18, 2010, sold for $1,020,000
Now: March 31, 2012, sold for $960,000
 
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<img src="/images/stories/2012/08/osborne5.jpg">
15 Collett Street, Kensington
Then: November 6, 2010, sold for $627,000
Now: March 13, 2012, sold for $589,000
 
<hr>
 
<img src="/images/stories/2012/08/osborne3.jpg">
10 Quantock Street, Canterbury
Then: September 17, 2010, sold for $2.1 million
Now: October 18, 2011, sold for $1.83 million
 
<hr>
 
<img src="/images/stories/2012/08/osborne10.jpg">
319 Richardson Street, Princes Hill
Then: November 14, 2009, sold for $1,045,000
Subsequent: September 18, 2009, sold for $1,033,000
 
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<img src="/images/stories/2012/08/osborne8.jpg">
47/1 Queensberry Street, Carlton 
Then: December 21, 2007, sold for $953,000
Subsequent: August 12, 2009, sold for $840,000
 
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<img src="/images/stories/2012/08/osborne9.jpg">
462 Canning Street, Carlton North
Then: August 18,2007, sold for $1,175,000
Subsequent:  July 24, 2009, sold for $1,100,000
Paul Osborne is the founder of Melbourne buyers' agency <a target="_blank" href="https://secretagent.com.au/">Secret Agent</a>.
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Nine Melbourne homes feeling the hangover effects from the 2008 GFC government stimulus: Paul Osborne 

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The iconic confectionery and chocolate maker Darrell Lea was sold today to Queensland's Quinn family. However, the brand's survival is bittersweet, with the remaining retail stores to close and 418 employees to be made redundant.
<a href="https://www.propertyobserver.com.au/retail/what-darrell-lea-s-collapse-means-for-retail-landlords/2012071155521" target="_blank">Darrell Lea</a> licorice and chocolates will be sold through its existing network of 1,200 licensed retailers, wholesale customers and by export.
The remaining 27 Darrell Lea company-owned stores will cease trading on Sunday, September 9 because the stores have been "consistently loss making for a number of years".
Darrell Lea's administrators say the stores did not attract any meaningful interest during the sale process.
The roles of 246 permanent and 172 casual employees will be made redundant in the process.
"While this is unfortunate, the decision is necessary to strengthen the manufacturing and distribution operations and ensure employment is secured for 83 manufacturing and administrative staff," administrators PPB Advisory said in a statement.
It said those employees affected by the decision would have all superannuation and wage entitlements paid in full.
"This sale represents the best outcome for Darrell Lea and it ensures that this iconic Australian brand and its manufacturing operations can continue to operate locally and stay Australian-owned," said Mark Robinson of PPB Advisory.
"We are confident that the Quinn family has the necessary skills and experience to take the business forward."
A spokesperson for the Quinn family said the family had a long-held interest in entering the Australian and international confectionery market.
"Our company has a strong history of building sustainable Australian-based businesses, and it is our aim to do the same with Darrell Lea," the spokesperson said.
This article originally appeared on <a href="https://www.smartcompany.com.au/index.php" target="_blank">SmartCompany</a>.
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Darrell Lea's 27 retail stores to close as chocolate maker sells to Queensland's Quinn family

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The west coast Tasmanian town of Queenstown leads the regional Tasmanian list compiled by RP Data of suburbs where it is cheaper to buy a unit than to rent one. 
RP Data compared the cost of a mortgage vs the cost of renting in four different ways: 1, Principal and interest loan on a variable mortgage rate; 2. Interest-only loan on a variable mortgage rate; 3. Principal and interest loan on a three-year fixed mortgage rate; and 4. Interest-only loan on a three year fixed mortgage rate.
The data contains both units and houses, but in most suburbs on the list it is cheaper to buy a unit than buy one. 
The comparison does not take into consideration stamp duty, associated buying costs and strata fees, where applicable.
The median house asking rent in Queenstown is $150 a week, according to RP Data, which estimates it is $140 cheaper per month to buy a house with a principal and interest variable mortgage than rent one.
Click to enlarge
<a title="Click to enlarge" rel="shadowbox" href="/images/stories/2012/08/rpsept37.gif"><img src="/images/stories/2012/08/rpsept37thumb.gif"></a>
<a href="https://www.myrp.com.au/buyorrent" target="_blank">For the full list of all suburbs, </a><a href="https://www.myrp.com.au/buyorrent" target="_blank">visit RP Data's website.</a>
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The regional Tasmanian localities where it is cheaper to buy than rent: RP Data

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The regional South Australian town of Whyalla leads the regional South Australian list compiled by RP Data of suburbs where it is cheaper to buy a unit than to rent one.
RP Data compared the cost of a mortgage vs the cost of renting in four different ways: 1, Principal and interest loan on a variable mortgage rate; 2. Interest-only loan on a variable mortgage rate; 3. Principal and interest loan on a three-year fixed mortgage rate; and 4. Interest-only loan on a three year fixed mortgage rate.
The data contains both units and houses, but in most suburbs on the list it is cheaper to buy a unit than buy one.
The comparison does not take into consideration stamp duty, associated buying costs and strata fees, where applicable.
The median unit asking rent in Whyalla is $220 a week, according to RP Data, which estimatesit is $36 cheaper per month to buy a unit with a principal and interest variable mortgage than rent one.
Click to enlarge
<a href="/images/stories/2012/08/rpsept35.gif" rel="shadowbox" title="Click to enlarge"><img src="/images/stories/2012/08/rpsept35thumb.gif"></a>
<a target="_blank" href="https://www.myrp.com.au/buyorrent">For the full list of all suburbs, </a><a target="_blank" href="https://www.myrp.com.au/buyorrent">visit RP Data's website.</a>
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The South Australian regional localities where it is cheaper to buy than rent: RP Data

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Dwelling values across Australia were unchanged in August, after values recovered slightly in June and July following the RBA’s back-to-back rate cuts.
"During the seasonally slower month of August, value growth flat-lined," RP Data research director Tim Lawless says.
While Adelaide was the strongest performer during August, it was not among the seven of Australia’s eight capital cities registering capital gains over the last three months.
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<a rel="shadowbox" href="/images/stories/2012/08/rpsept3.gif" title="Click to enlarge"><img src="/images/stories/2012/08/rpsept3thumb.gif"></a>
Source: <a target="_blank" href="https://www.myrp.com.au/">RP Data</a>
Improved affordability since June helped dwelling national values rise over the quarter,  Lawless says.
"The big question is, ‘Can this growth be sustained?’
"On the one hand, winter is seasonally slow, so these results have been encouraging.
“On the other hand, we know that there is likely to be an increase in new supply over spring, which may introduce some headwinds for a recovering market.
Click to enlarge
<a rel="shadowbox" href="/images/stories/2012/08/rpsept31.gif" title="Click to enlarge"><img src="/images/stories/2012/08/rpsept31thumb.gif"></a>
Source: <a target="_blank" href="https://www.myrp.com.au/">RP Data</a>
"How the market plays out over the spring season will be an important litmus test for its resilience,” Lawless says.
Dwelling values in both Sydney and Melbourne both increased by 0.1% in  August, with the two biggest capitals recording 2.4% and 2.5%  capital growth, respectively, over the last three months.
In August gains were also seen in Adelaide (+1.4%), where housing values had struggled in recent months, and Canberra (+1.2%).
Click to enlarge
<a rel="shadowbox" href="/images/stories/2012/08/rpsept32.gif" title="Click to enlarge"><img src="/images/stories/2012/08/rpsept32thumb.gif"></a>
Source: <a target="_blank" href="https://www.myrp.com.au/">RP Data</a>
The markets weighing down the result were Brisbane (-0.2%), Perth (-1.2%), Hobart (-1.2%) and Darwin (-0.5%).
Sydney is proving to be one of the most consistent performing capitals this year.
“Sydney dwelling values have increased over five of the past eight months providing a cumulative capital gain of 1.9% over the year to date," Lawless says.
Canberra (+1.4%), Hobart (+3.9%) and Darwin (+8.4%) have also yielded owners capital gains over the first eight months of 2012.
By contrast, other capitals, like Adelaide (-1.3%, Brisbane (-1.4%), Perth (-2.5%) and Melbourne (-2.6%), have recorded tougher conditions this year, the index notes.
The year-on-year numbers have shown a substantial improvement although the eight capital city aggregate is down 2.4%.
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August puts a stop to national dwelling value growth: RP Data-Rismark

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The location of single-person households can tell you a lot about a city.
St Kilda, St Kilda West, Carlton, Elwood and South Yarra have the highest proportion of single-person households in Melbourne, according to REIV analysis of the 2011 census data from the Australian Bureau of Statistics (ABS).
It is interesting to note that, along with Carlton, the inner-southern bayside suburbs had the highest concentration of single-person households; and these trends had an important impact on development and demand for housing.
In St Kilda, St Kilda West, Carlton, Elwood and South Yarra over 40% of homes have only one resident.
New developments clearly respond to this demographic trend by building residences more suited to single people.
The data also shows that the further a suburb is from the CBD, the less likely it is to feature single-occupant households.
There is one interesting exception: the suburbs along the Belgrave/Lilydale train line contain a higher-than-average proportion of lone-resident households.
At the other end of the spectrum are the growth suburbs: Point Cook, Greenvale, Roxburgh Park, Doreen, Narre Warren South and Narre Warren North, for instance. In those suburbs fewer than 10% of homes have only one resident.
Such growth suburbs are highly popular with growing families.
In key regional centres such as Geelong, Ballarat and Bendigo, the suburbs with above-average shares of lone-person households tend to be in central locations with better access to the V/Line train network. Of the three, Geelong has the highest number of suburbs (six) where over 35% of households were solo residents, compared wiith four suburbs in Ballarat and one in Bendigo.
To view related data in a clickable map visit <a target="_blank" href="https://www.reiv.com.au/">www.reiv.com.au</a>.
Enzo Raimondo is CEO of the <a href="https://www.reiv.com.au/" target="_blank" rel="nofollow">Real Estate Institute of Victoria</a>.
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