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“Minister Chanthivong and his team have shown real leadership in replacing an outdated two-year bond with cover that matches the lifespan of the buildings people are buying into.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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Devine’s second-largest shareholder Lyn Brazil has criticised the national property development company for not taking advantage of Australia’s booming property markets.
Lyn Brazil, who owns 9% of the listed residential developer, voted against Devine’s remuneration report at the company’s annual meeting in Brisbane on Wednesday.
But some of the most pointed criticism was directed at the largest shareholder, the contractor Leighton Holdings.
“As we all know with Leighton as majority shareholder they pull the strings, but they have been asleep at the wheel and let all this happen,” Mr Brazil reportedly said.
The company sells new homes mostly in South East Queensland, but is little known for its Victorian, South Australia and NSW ventures, having only had the one press release highlighting buyer opportunities this year, and three since last May on its website.
The Devine masterplanned communities across Melbourne include Eden Brook at <a href="/news">Pakenham</a>, Parks Edge at <a href="/news">Cranbourne</a>, Stonehill at <a href="/news">Bacchus Marsh</a> and Pennyroyal at <a href="/news">Kurunjang</a>. In Adelaide there is Orleana Waters, at<a href="/news"> Evanston Gardens</a>. 
Founded in 1983, Devine's apartment projects in Brisbane have seen 3,000 apartments valued at more than $1 billion sold since 1993, after its prior ownership and management by David Devine who left Devine Limited, which still bears his name, in 2010.
Sales at the 111-apartment project, DoubleOne3 located in the prestigious riverside suburb of Teneriffe, are due to be settled by in June. 
Devine announced in late 2012 that it would re-enter the NSW market, after securing an option on an 86 dwelling, 5,900 square mete site in <a href="/news">Turramurra</a>, heralded as possibly its first project in NSW for nine years. But it was subsequently sold off as a development site. They have since bobbed up exchanging contracts on a 2.25 hectare site in Parramatta, expected to yield over 350 apartments. 
<div class="page" title="Page 1">
<div class="layoutArea">
<div class="column">
Devine is proposing to build a $180 million staged development with several multi-storey buildings on Morton Street, Parramatta with an existing joint venture party. The project is expected to launch in January 2015 with construction to commence the following year. 
</div>
</div>
</div>
As at 30 June 2013, Devine’s land and apartment development pipeline included the equivalent of 13,700 future dwellings.
Leighton, which owns 50.6%of Devine, had to provide a $50 million partial guarantee of Devine’s debt ­facility last year, after the Brisbane-based developer booked a loss and downgraded guidance.
“If we look at the opposing property development companies they are ­getting good profits,” the Australian Financial Review reported Brazil telling the annual general meeting
He said Devine's results that were “disappointing, dismal and damning”.
“I don’t have any inspiration or any confidence in the team, so from my point of view you should sell the company or sell the assets and give the ­capital back to shareholders,” Mr Brazil said.
Shares in <a href="https://www.devine.com.au" target="_blank">Devine</a> are tracing at 72¢, less than half its net tangible assets.
Devine chairman Peter Dransfield said he understood Mr Brazil’s views.
The company was now on track to deliver a profit before tax of between $7 million and $10 million for the full year ending December 2014.
The company had sold off $110 million in development sites, mostly in Brisbane, the Devine chief executive David Keir said. It sold a parcel of undeveloped land in North Brisbane for $14 million to private developer QM Properties this month. Last December Queensland property developer Sir John Pidgeon acquired Devine Limited’s Camelot site on Albert Street in the Brisbane central business district.
“Some challenges still remain in selected markets, with uncertain job security impacting on consumer confidence, and some regional markets currently enduring cyclical lows,” David Keir explained.
“We are carefully monitoring these areas and continuing investment is based on appropriate levels of pre-sales before construction commitment is made.”
Last year Morningstar’s Tony Sherlock blame the postcodes of Devine's property projects along with the difficulty of clearing backlogs, especially in stubborn pockets of negative equity, for its dire status.
Peter Dransfield has only been on the Devine board since April 2010 having previously held senior positions with Australand, Walker Corporation, Multiplex Group along with being the director of housing for the NSW Government.
Kier joined Devine as chief executive officer in March 2010 and was appointed managing director in April 2010 having previously been CEO of Delfin Lend Lease where he joined in 1994.
Devine’s board includes former Queensland Treasurer Terry Mackenroth who has been on the board since 2005..
The board saw two Leighton directors retire at the annual meeting, after seven years, replaced by another two Leighton directors, Ian Frost and Jeff Cummings.
 
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jchancellor-FAypfDUnLy

"Dismal" Devine Limited attacked by shareholder for missing the housing boom

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Newly formed company Australian Gaming &amp; Entertainment has collapsed after launching a bid last month to publicly list and buy a $95 million portfolio of Sydney pubs.
AG&amp;E was placed in administration on Monday with Cliff Rocke, John Bumbak and David Winterbottom of KordaMentha appointed as administrators.
It’s a speedy fall from grace for the pub group, which had optioned five pubs from the private Lewis group for $95 million in a bid to become an aggregator in NSW’s fragmented pub industry.
AG&amp;E, which was to be chaired by industry veteran Bill Brown, was planning on an initial public offering.
But Rocke told SmartCompany this morning the IPO didn’t ever get off the ground as the funds could not be raised.
“[AG&amp;E] were going to have a float and get confirmation from the joint lead managers from the float and the proceeds from the float were going to be used to acquire the hotels,” he says.
But despite indications AG&amp;E’s bookbuild was proceeding as planned, “cornerstone” institutional investors did not submit bids as expected and so the group could not exercise its option to purchase.
AG&amp;E described this to Rocke as “devastating news” with “no time to make alternate arrangements”. 
Rocke is still determining who the major creditors are and says at this stage there were no employees.
“The directors have some exposure whether they put in equity or unsecured amounts,” he says.    
The pubs at the centre of AG&amp;E’s plans were the Beverly Hills Hotel, The Canley Hotel, the Croydon Park Hotel in Ashfield, Wentworthville Hotel near Parramatta, along with either the Kogarah Tavern or the Lapstone Hotel.
<a href="https://www.theaustralian.com.au/business/property/new-pub-group-australian-gaming-entertainment-looking-at-listing/story-fnko7zi0-1226887041722">The Australian</a> reported last month investment banks CIMB and Wilson HTM had been drafted in to assist AG&amp;E in raising ­equity, with a roadshow for the Sydney-based company scheduled to kick off after Easter.
The administration follows the collapse last year of pub group <a href="https://www.smartcompany.com.au/growth/economy/31345-receivers-appointed-to-sydney-pub-group-turning-over--23-million-a-year">J&amp;J O'Brien</a> and of pub group <a href="https://www.smartcompany.com.au/growth/economy/22408-20111010-pub-group-in-receivership--blames-onerous-leases-for-collapse">National Leisure &amp; Gaming </a>, which operated 35 pubs in New South Wales and Queensland.
This article first appeared on <a href="https://www.SmartCompany.com.au" target="_blank">SmartCompany</a>.
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cwaters-YrtBR88nBe

Pub group collapses after failed attempt at IPO and $95 million hotel buy-up

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There is growing uncertainty over the future of Australian retail chain Diva, with reports emerging that the business is in the process of switching at least some of its stores to sister-brand Lovisa.
At the same time, the <a href="https://www.jewellermagazine.com/Article.aspx?id=4107&amp;h=Diva-stores-shutting-down%2c-or-maybe-not" target="_blank">Jeweller Magazine reports</a> numerous Diva stores have recently closed, including a prominent store in Westfield Parramatta in Sydney.
Staff at two Diva stores in Melbourne contacted by SmartCompany this morning said the brand is in the process of switching to the Lovisa name, although one store manager said her store won’t be changing. The same manager confirmed the Diva website has ceased operating.
Another Melbourne store contacted by SmartCompany had switched to the Lovisa brand around 12 months ago. The phone number listed for the Diva store in Rundle Mall, Adelaide, has been disconnected.
SmartCompany contacted the Lovisa head office, and the head office of parent company BB Retail Capital, but is still awaiting a response.
Jeweller Magazine also contacted numerous Diva stores, only to be given confusing explanations as to the future of the business. Some stores told the publication that all Diva stores are closing, while others said all Diva stores are changing to Lovisa.
Others said some Diva stores will continue to operate while others will change to Lovisa, and some stores said they are changing to “a completely new brand”.
Customers have left several messages on the <a href="https://www.facebook.com/divafanpage" target="_blank">Diva Facebook page</a>, asking what is happening to the chain, but their concerns have gone unanswered. The Diva <a href="https://twitter.com/divaaccessories" target="_blank">Twitter</a> and <a href="https://instagram.com/divaaccessories" target="_blank">Instagram</a> accounts have not been updated since December.
Diva was founded in 2003 by Colette and Mark Hayman, who sold the business to <a href="https://www.smartcompany.com.au/growth/17786-20101207-retail-rich-list-veteran-brett-blundy-sells-off-two-retail-chains" target="_blank">millionaire Rich Lister Brett Blundy</a> in 2005, joining Blundy’s other retail interests including Bras ‘N’ Things as part of the BB Retail Capital Group.
According to Jeweller Magazine, at the height of the Diva brand, the company was operating close to 200 stores in Australia and New Zealand and up to another 400 in international markets.
BB Retail Capital launched fellow fashion jewellery brand Lovisa brand in 2010, which is now reported to operate 158 stores in Australia and around 36 internationally.
Brian Walker, chief executive of the Retail Doctor Group, told SmartCompany he has heard anecdotal stories about changes happening at Diva, but says he would be surprised if BB Retail Capital did not continue the Diva brand “in some shape or form”.
“Diva has been a highly successful and highly profitable business and for the past two years has been the mainstay, or cash cow, of Brett Blundy’s retail companies,” says Walker. “These types of businesses operate on 80% plus gross profit.”
<img src="https://www.smartcompany.com.au/images/facebook-542-287.jpg" width="542" height="287">
Walker says it is possible Diva has not been generating the same metrics as Lovisa in recent times, but he expects the chain is “still a very viable business”. And he says the success of the brand leads him to think the closure of the website has been caused by a temporary technical glitch.
However, Walker says the market for inexpensive fashion jewellery is “reaching saturation point for both physical stores and online”.
“The creative force behind Diva really did come from [founders] the Haymans and the brand expanded rapidly,” says Walker. “But it now operates in a sea of competition, which it has partly created itself through the Lovisa brand.”
While Lovisa is pitched at a slightly older audience than Diva, Walker says there is some overlap between the two markets.
This article first appeared on <a href="https://www.SmartCompany.com.au" target="_blank">SmartCompany</a>.
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ekeating-PWvazjYE25

What’s happening at Diva? Confusion over future of Australian fashion accessories chain

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New research available from today has listed the 10 suburbs that have seen the largest capital growth for the quarter for houses and units nationally.
Sydney, according to the list, has done well across both units and houses – with <a href="/news">Beaumont Hills</a> and <a href="/news">Eastwood</a> topping the houses list, and <a href="/news">Wollstonecraft</a> and <a href="/news">Milsons Point</a> topping the units list.
Houses, however, outperformed unit suburbs, with double digit growth recorded in seven of the top suburbs.
In fact, there was just one offering outside of New South Wales that made it onto the house suburb list – Melbourne’s <a href="/news">Alphington</a>.
On the best unit list, the results were a tad more mixed, and actually included a country Western Australia listing.
Consulting analyst for Onthousehouse, and founder of Residex, John Edwards, said that Sydney growth has continued through 2014.
“Growth in Sydney has continued, with house price growth of 8.15% in the last quarter. We have not seen this high level of quarterly growth since September 1988, when Sydney saw its last large property price boom,” said Edwards.
“While the strong growth rates are good news for property owners, if growth continues on its current upward path there could potentially be some problems in the medium-term as interest rates are likely to increase.
Edwards urges anyone looking to buy to heavily research the area.
“Gathering information on a suburb is crucial before buying. Investors should be able to estimate where a suburb is in its growth cycle if they are considering buying in the area,” he said.
See over page for the top performing suburbs.
<hr class="system-pagebreak">
<img src="/images/2014/05/29/bets-houses-may-29.gif" alt="">
Source: Onthehouse.com.au / Residex
<img src="/images/2014/05/29/bets-untismay-29.gif" alt="">
Source: Onthehouse.com.au / Residex 
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jduke-EHk3XBmHkn

The quarter’s 10 outperforming unit and house suburbs, Sydney tops list: Residex

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Somehow when we talk about the biggest phenomenon in Inner Melbourne home buying, Chinese nationals, their spending power and the apprehension that is increasing out there among some home buyers when competing against overseas buyers, we get diverted from the main game.
The main game, in our mind, is not the Chinese nationals themselves. It is how they as a group have been changing the face of Melbourne home buying, particularly since 2009, and how you need to deal with the associated price issues that overseas wealth (demand) and reducing housing stock (supply) will have on you and/or your children’s current and future home buying plans.
What has been happening in the market in the last five years (post-GFC) <a href="/expert-insights/investing/chinese-buyers-in-melbourne-a-simple-case-of-supply-and-demand">is more about demand, supply and price than about Chinese nationals</a>. Big picture-wise, the price and supply changes we are seeing would have happened eventually due to organic population growth. However, right now the overseas market, and in particular the wealth and actions of Chinese nationals, are significantly accelerating the price and supply issues through their demand.
<blockquote>
Overseas buyers are not buying every home, everywhere. Their effect is much more like a snowball rolling down a mountain; in some markets this has turned into an avalanche, whereas in others it is still just a small snowball rolling down a mountain.
</blockquote>
As home buyers you need to deal with this, just as you need to deal with agents, auctions and other nuances of the Melbourne market.
Overseas buyers are not buying every home, everywhere. Their effect is much more like a snowball rolling down a mountain; in some markets this has turned into an avalanche, whereas in others it is still just a small snowball rolling down a mountain.
The effect of overseas buyers is best evidenced by the different strengths and bidder depth in the Inner East markets versus the Bayside markets.
The Inner East market is where Chinese national bidding is the most significant.
<ol>
<li>Inner East had a far shorter GFC period in 2008/2009 than Bayside</li>
<li>Inner East had minor price drops compared to Bayside in the GFC and in 2011/12</li>
<li>Inner East has stronger price per square metre land prices across the board (except absolute <a class="st_tag internal_tag" href="/news" title="Posts tagged with Brighton" rel="tag">Brighton</a> waterfront)</li>
<li>Inner East has changed streetscapes in many areas. with new builds specifically aimed at the Chinese national market, e.g. <a href="/news">Balwyn</a> and <a href="/news">North Balwyn</a>.</li>
</ol>
Short-term and understanding the changing market nuances
As buyers you need strategies to compete against wealthy overseas buyers now and to buy well generally now. You also need to understand as buyers that EOIs are set up in a number of cases for Chinese nationals and other overseas buyers. You need to manage that if the home you want to buy is being sold through an expressions of interest campaign.
You need to understand how Chinese nationals and other overseas buyers value land and buildings, so you can compete effectively.
You need to understand how different cultural influences affect private sale and EOI negotiations and you need to know how to prepare and bid at auction when competing against overseas buyers.
If you don’t, or your strategy is to wait, then we think you may have issues, as we have tried to illustrate in the above diagram.
But it’s not just about you buying a home now. What effect will this significant influx of wealth have on your children buying homes?
Longer term solutions and a different strategy
As buyer advocates, a large part of our business has always been buying generational homes for families to live in and pass on. We have acted many times for local and overseas clients, including Chinese nationals, with this as a key desired outcome.
An increasing market segment for us (with a slightly different take, but same desired outcome) is the purchase of smaller, well-located family homes through super funds.
These $1 million plus homes are bought as quasi-investments and sit in super funds with the view they can return some cash and provide some growth in the medium term; but ultimately they are purchased for our client’s children as a hedge against being priced out of the market.
Generational Homes for you and your children
Personally my family lives in a three home estate in Brighton with grandparents and parents and children. This has been set up like this to assist future generations to remain in the area (if they so choose).
It was relatively easy for my generation in the 1970s and 80s to move from Outer Melbourne (Doncaster was then Outer) to Inner Melbourne (Malvern then Brighton).
But how easy will it be for our children to find a home? Our children may well be the first generation that is living in poorer accommodation as adults than they grew up in as children.
Unless our children are rocket scientists with an entrepreneurial bent, or they get parental help, they will be moving further away from Inner Melbourne on affordability grounds. Or they will be living nearby but in apartments.
In moving further away from Inner Melbourne your children will also be moving further away from infrastructure, transport, school choice, the footy, restaurants and you.
We suggest you develop strategies now.
We are not for or against overseas buying, just as we are not for or against first home buying grants or for or against negative gearing. Our job is not to debate. We see our job as raising the issues and helping our clients find solutions. We are buyer agents operating in the Top End marketplace.
We feel this best helps you, the buyer, consider your options now and into the future.
Mal writes weekly auction reports, advice and in-depth market analysis on <a href="https://www.jamesbuyeradvocates.com.au/" target="_blank">James' website</a>.
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maljames-vHwm28JUAa

Strategies to compete with overseas buyers

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There has been broad agreement among analysts that this will be the year of Brisbane, but it's regional Queensland leading the charge in 2014.
Most commentators, especially the chattering economists, focus exclusively on the capital cities in their "analysis" of real estate in Australia. The regions seldom rate a mention, other than an habitual obsession with bad news areas like the Gold Coast.
Property investors also tend to overlook the regions - and that's to their detriment. Over the years surveys have found most investors believe you have to buy in capital cities to get capital growth. But regional centres offer the potential for a win-win-win situation: cheaper prices, better rental yields and excellent potential for capital growth (assuming you buy wisely).
In Queensland in particular, regional cities must always be considered. Queensland is the most decentralised state and has a line-up of strong regional cities that matter both economically and in a real estate sense: <a href="/news">Townsville</a>, <a href="/news">Toowoomba</a>, <a href="/news">Rockhampton</a>, <a href="/news">Cairns</a>, the Sunshine Coast, <a href="/news">Gladstone</a>, <a href="/news">Mackay</a> ... and, yes, even the Gold Coast, though it's more of a theme park than a city.
The latest figures from the Real Estate Institute of Queensland indicate that Brisbane overall hasn't moved a great deal but many of the regional cities have.
<a href="/news/qld/the-regions-have-queenslands-most-pronounced-rental-price-movements-terry-ryder">Since the middle of last year</a> I have been recommending that investors consider some of Queensland's coastal cities which have been poor performers in recent years but are now moving into growth phases.
These include Cairns, the Sunshine Coast and Hervey Bay. These places have a number of things in common - economies that have struggled in the past through over-reliance on tourism and property markets weighed down by over-supply.
Their recoveries have common features as well - a big increase in infrastructure spending, efforts to diversify their economies, absorption of the previous accommodation surpluses and recovery in tourism markets. These places have been at the forefront of Queensland price growth in the early part of 2014.
I have spoken to investors who own Cairns property and have only negative things to say about the city's market. But that's the past and hotspotting is about perceiving the future. And, in line with our forecasting, Cairns was Queensland's leading performer in the March quarter - it's median house price rose 5.6%.
Hervey Bay rose about 3%, <a href="/expert-insights/investing/rocky-on-the-rise-as-gladstone-stumbles-terry-ryder">as did Rockhampton</a>, while the Sunshine Coast improved 2% in the quarter, as did Townsville.
The Gold Coast rose 4% and is now back on a growth path after five years of decline. There's plenty of infrastructure spending happening there as well and normally I would have such a place on my good list.
But the coast's miserable capital growth history, thanks to continual bouts of over-supply, counts against it - particularly with the level of new supply in the pipeline.
Every week brings new announcements of new skyscrapers. The Gold Coast is gearing up to repeat the mistakes of the past.
I'd rather own real estate in <a href="/expert-insights/buying/regional-hotspot-toowoomba-shows-great-investor-potential">a city of substance like Toowoomba</a> than a place of froth and bubble like the Gold Coast.
You can contact Terry via <a href="https://mailto:ryder@hotspotting.com.au" target="_blank">email</a> or on <a href="https://www.twitter.com/hotspotting" target="_blank">Twitter</a>.
Photo of Townsville at night: Creative Commons.
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terryryder-YECXbqmri2

Forget the Gold Coast, it's regional Queensland leading the charge

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GUEST OBSERVATION
A damaging admission by the Commonwealth Bank will boost concern about the government’s plan to weaken protections for consumers seeking financial advice and throw into doubt its timetable for announcing changes.
The bank’s earlier failure to provide a parliamentary inquiry with full information about its handling of the aftermath of financial advisers' misconduct has forced a last-minute delay to a Senate report into the affair.
The bank now admits not all the relevant clients were contacted and offered the promised $5,000 to help them get fresh advice. More than 4000 cases are now to be dealt with.
Full information was apparently withheld by the bank for some time from the inquiry and from the Australian Securities and Investments Commission.
The government’s proposed changes to Labor’s Future of Financial Advice (FoFA) law would advantage the banks. They would apply the ban that exists on “conflicted renumeration” only to the provision of personal advice - exempting general advice provided by employees of banks and product manufacturing institutions.
The controversial package was put on hold for further inquiry and consultations. Seniors groups have been particularly critical.
Finance Minister Mathias Cormann is anxious to finalise the measures quickly and does not want to revise them substantially.
But what the Senate economics references committee on Wednesday described as “surprise developments” – the production of new information from ASIC and the bank - will increase suspicion.
The committee, investigating the performance of ASIC, had been due on Friday to present a report expected to be very critical of the bank.
One of the committee’s main concerns has been the misconduct of some financial advisers in Commonwealth Financial Planning Ltd (CFP), part of the Commonwealth Bank of Australia Group, and ASIC’s response to allegations of wrongdoing.
The committee said in an interim report on Wednesday that it was particularly interested in the adequacy and integrity of the ASIC-approved compensation arrangements for affected clients.
It had been well advanced in preparing its report when on May 16 ASIC and the CBA advised there were inconsistencies in the way in which the compensation arrangements had been applied.
“This revelation suggested that, for some time, the CBA had not kept either the committee or ASIC full informed about the compensation process for clients affected by serious misconduct within CBA’s businesses,” the interim report said.
Although ASIC and the CBA had attempted to correct the record, the committee said the evidence provided was “sketchy” and many questions were left unanswered.
Committee chairman, Labor’s Mark Bishop, said these included how many affected clients were “kept in the dark by the CFP, for how long, and the number who missed out on the offer of $5000 to help them pay for an expert assessor to assist their claim”.
Concerned it might still not have a full understanding of what had happened, the committee has asked for more information from ASIC and the bank.
Bishop tweeted that he was alarmed that “ASIC says over 4000 clients affected by inconsistent approach CBA applied to compensation measures. Maybe ten of thousands”. The latter number is a reference to possible unidentified clients.
The committee’s final reporting date has been delayed to no later than June 26.
The Senate economics legislation committee, with substantially overlapping membership with the ASIC inquiry, is examining the proposed FoFA changes.
It will report on June 16 and Cormann has planned to announce the government’s position immediately after that.
But the government could expose itself to more criticism if it did not wait until the report dealing with the Commonwealth Bank.
Chairman of the Financial Planning Association Matthew Rowe told The Conversation one would expect the latest development would push out the timetable for the government’s announcement.
His organisation, a professional body representing financial planners, has written to Cormann with its concerns about the reintroduction of commissions. It says the selling of products should be clearly separated from providing professional advice.
“Consumers are becoming increasingly suspicious of the behaviour of some of our major institutions,” Rowe said.
“The government needs to take great care with the arguments of those with significant vested interests where there is a real and significant public interest at stake.”
On FoFA the government is trapped in the triangle of what it wants to do, what politically it should do, and what the Senate will allow it to do.
<img src="https://counter.theconversation.edu.au/content/27285/count.gif" alt="The Conversation" width="1" height="1">Michelle Grattan is one of Australia's most respected and awarded political journalists. Michelle currently has a dual role with an academic position at the University of Canberra and as associate editor (politics) and chief political correspondent at The Conversation.
This article was originally published on <a href="https://theconversation.com" target="_blank">The Conversation</a>. 
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jake-cSmGT7VXVf

Commonwealth Bank behaviour sends more warning signals about Liberals' financial advice changes

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Mirvac Group has secured four residential development projects across Sydney, Melbourne and Brisbane totalling $144.2 million, on mostly delayed settlement terms.
“These acquisitions significantly restock our residential development pipeline and will provide long-term earnings benefits from FY16 onwards," Mirvac's managing director, Susan Lloyd-Hurwitz said.
"They sit within our directional mandate to acquire apartments in the inner ring and masterplanned communities in infill ring locations, and highlight our capacity to source and secure off-market opportunities in key locations."
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There was the purchase of an inner ring residential site in Waterloo, with the potential to deliver 250 residential apartments and 1,000 square metres of retail space. It is subject to FIRB approval.
Then inner ring residential site in Brisbane is located in south Brisbane with city and river views. The development has approved planning for a two staged apartment project of 329 lots across two towers, and will comprise one and two bedroom offerings. The project is expected to contribute to earnings from early 2017.
Settlement of the acquisition will occur in two stages, with stage one expected in mid-2014 and stage two expected in mid-2015.
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Mirvac has also purchased a property off Raby Road, Catherine Fields, 60 kilometres south-west of Sydney’s CBD within Sydney’s South West Growth Centre region. The 87 hectare site has the potential to deliver up to 600 lots. 
Altona North is the location of the Victorian acquisition. It is an 11.5 hectare infill site in Blackshaws Road, Altona North, with the potential to deliver 260 lots, subject to planning approvals.
Mirvac has appointed Brett Draffen to the newly created position of chief investment officer.
Brett Draffen had previously been the company’s chief executive development and group strategy.
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Mirvac grabs four off-market residential project sites with 1,400 dwelling potential

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Four consortia have been shortlisted to develop a six-star multi-billion dollar integrated resort development at Queen’s Wharf Brisbane.
<ul>
<li>Crown Resorts Ltd</li>
<li>Echo Entertainment Group Ltd</li>
<li>Far East Consortium/ Chow Tai Fook Enterprises Ltd</li>
<li>Greenland Investment Pty Ltd.</li>
</ul>
In October last year the Queensland government decided a gaming licence would be available for the under-utilised nine hectare government-owned site adjacent to the north bank of the Brisbane River.
The shortlisted companies will be required to lodge fully-developed proposals with the government in late 2014.
A formal announcement regarding the successful developer and their development scheme is not expected until early 2015.
{qtube vid:=V_Eiiyy8ec4#t=56}
Crown Resorts Ltd
One of Australia’s leading integrated resort and casino operators with international joint-ventures and associated gaming and hospitality interests.
Extensive domestic experience developing, owning and operating integrated resort development (IRD) casinos including:
<ul>
<li>$3.7 billion Crown Melbourne, Southbank urban redevelopment</li>
<li>$850 million Crown Perth refurbishment</li>
<li>$2 billion (planned) Crown Sydney.</li>
</ul>
Echo Entertainment Group Ltd
One of Australia’s leading integrated resort and casino operator with substantial presence in domestic market.
Domestic IRD casinos include:
<ul>
<li>$870 million Star Sydney upgrade (2008-2012)</li>
<li>Treasury Casino and Hotel Brisbane</li>
<li>Jupiters Casinos and Hotels in Townsville and the Gold Coast (planned $345 million refurbishment).</li>
</ul>
Far East Consortium/ Chow Tai Fook Enterprises Ltd
International hospitality and mixed-use property developer/operator with some domestic development experience in Melbourne and Perth.
Notable large scale developments include:
<ul>
<li>$3.3 billion Trump Place, New York City</li>
<li>$1.2 billion Hong Kong Convention and Exhibition Centre</li>
<li>$1.2 billion 250 Spencer St, Melbourne integrated residential, retail, hotel and public realm development.</li>
</ul>
Greenland Investment Pty Ltd 
Fortune 500 Chinese state-owned international large scale mixed-use property developer.
Notable projects include:
<ul>
<li>400 hectare Greenland Nanchang activity centre urban redevelopment</li>
<li>$1 billion 82 hectare Zhengzhou Greenland Central Plaza activity centre and transport hub</li>
<li>$680 million Greenland Centre Sydney residential tower.</li>
</ul>
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Crown versus Echo again, with Greenland and Far East also seeking Brisbane Queen's Wharf project

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Workplace design and facilities sit just behind salary as key influences on a candidate’s choice of workplace, according to research from design firm HASSELL and Empirica Research.
When you’re expecting someone to spend more than forty hours a week in an office, that office had better be good. If it’s good enough, some workers may even be willing to accept a lower salary. In HASSELL and Empirca Research’s survey, 24% of candidates reported that they would be likely to accept lower pay than they currently received if the new position came with appealing workplace facilities and culture. Appealing technology bumped that proportion up to 37%.
Pay aside, the survey found that providing an appealing workplace doubled the attractiveness of an employer to candidates, all other variables held constant. While providing facilities like gyms, childcare and outdoor spaces were found to be the most effective way of boosting a workplace’s appeal, design was found to count too.  ‘Creative, modern’ workplace design increased an organisation’s attractiveness to the prospective candidates by three times over ‘conservative, corporate’ workplace design.
<img src="/images/2014/05/28/hub%20melbourne.jpg" alt="">
Hub Melbourne. Photograph by Dianna Snape.
Though much of this information will come as no surprise to those in the architecture and design industries, HASSELL principal Steve Coster says that the empirical data will go a long way in convincing employers about the importance of design.
“There are people who are converted to the idea that workplace is worth spending time and money and effort on, and there are people who need more convincing. And one of the challenges is that we often don’t have rigorous substantiation data to make our argument,” he says.
However, he says that employers are starting to realise the benefits of quality workplaces.
“I think that’s definitely a generally higher acceptance now of the opportunity that workplace represents than there was 10 years ago, when I started working in workplace strategy type work,” says Coster.
“The more people see it and the more they experience good workplaces, the more they realise what’s possible. The biggest barrier is people not knowing what they don’t know, and not realising what a workplace can be like, and that it doesn’t have to be awful – it can actually be quite a good place to be if it’s done well.”
Coster often cites SA Water House as an example where workplace design has influenced the organisation’s culture and cut costs. HASSELL designed the over 20,000 square metre building, which included office spaces and laboratories.
 <img src="/images/2014/05/28/sa%20water%201.png" alt="">
SA Water House. Photograph by Matthew Sleeth.
“They had quite a broad cultural agenda to change the kind of organisation that they were,” says Coster.
“One of the symptoms they said would reflect progress was their attractiveness to a new generation of employees. So that was a KPI for the shift they were trying to make. And from a couple of years before they moved into their new workplace until a couple of years after, they went from less than 20 graduate applications a year to getting more than 400 applications a year.”
With mining and engineering companies in Adelaide attracting the majority of engineering graduates, the influx of interest in SA Water from new candidates was a “strategically important issue,” says Coster.
 <img src="/images/2014/05/28/sa%20water%202.png" alt="">
SA Water House. Photograph by Matthew Sleeth.
But there was also an improvement in retention and productivity of the existing workforce.
“They had a reduction in sick days by one day per person per year. With nearly 1000 employees, matter what they do, that’s 1000 days of productivity that they didn’t get before.” Meanwhile, employee turnover reduced from 10% to 8%, and graduate, trainee and apprentice retention increased from 81% to 91%.
Another example of the influence on workplace culture and design on staff retention is Hub Australia. The Hub, working on a membership basis, charges freelancers, entrepreneurs and creative to use their office spaces. Their Australian spaces were designed by HASSELL. Coster says that the Hub’s members’ willingness to pay to work there is in some ways “the ultimate test of attractiveness.”
<img src="/images/2014/05/28/hub%20sydney.jpg" alt="">
Hub Sydney. Photograph by Nathan Dyer.
“How many organisations’ employees would pay for the right to use their work place? What would you provide differently if you had to encourage people to come so much that they would pay for it – because it would have to be different to your usual cubical work station,” he says.
<img src="/images/2014/05/28/hub%20sydney2.jpg" alt="">
Hub Sydney. Photograph by Nathan Dyer.
HASSELL uses the “Walking the talk” model by Caroline Taylor to analyse and describe workplace culture.
“She talks about culture being made up of the systems, symbols and behaviours that are repeated in an organisation over time,” says Coster. The three dimensions make up a business’s system of working.
“They show you what’s valued, they show you what the priorities are,” he says.
 “The physical workplace is an opportunity to affect all three of those channels, in a very underlying, pervasive, almost passive, background sort of way.” Coster notes the classic boss workplace stakeout, in the corner office rather than sitting with the team.
"That’s a highly symbolic message about the kind of culture you want to create. And if you think about what those messages are and what kind of messages you want to enforce or eliminate; what kind of systems you want to build in and which ones you want to get rid of, you can reinforce all of that through your physical environment." 
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