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“Minister Chanthivong and his team have shown real leadership in replacing an outdated two-year bond with cover that matches the lifespan of the buildings people are buying into.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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A new levy on planning permit application fees will fund the Victorian government’s $62.8 million commitment to the Metropolitan Planning Authority (MPA).
The Plan Melbourne strategy was drafted by the Coalition government in October last year. Plan Melbourne’s initiatives include accelerated investment in metropolitan hubs and outer growth areas, strategies to facilitate the supply of affordable housing and transport infrastructure investment.
The Victorian government will provide $51.6 million over four years to the Metropolitan Planning Authority to implement Plan Melbourne, which has not yet been finalised.
An additional $11.2 million will be provided over four years to fund short term actions including the delivery of major urban renewal sites and a local “pocket park” fund. The government has also committed cash for a “20 minute neighbourhood” fund. The <a href="https://blogs.crikey.com.au/theurbanist/2013/12/11/the-20-minute-neighbourhood-does-it-make-sense/" target="_blank">20 minute neighbourhood strategy</a> aims to see retail, job, education and recreation precincts within 20 minutes travel time of every home, with a strong focus on non-car transport.
The spending commitment will be funded by new planning permit application fee tax for projects worth more than $1 million. The levy is forecast to raise an estimated $17.1 million per year. To be introduced on 1 July 2015, it is estimated that the levy will be charged to approximately 6% of all planning permits.
According to Minister for Planning Matthew Guy, the increased levy costs would be offset by the benefits of the new planning system.
“Developers face millions in land holding costs every week across Victoria. A fully funded MPA will reduce overall development costs over time by bringing land to market earlier,” said Guy, who claimed that the funding will help drive job creation and investment opportunities.
“Plan Melbourne supports the Coalition government’s commitment to building a stronger Victorian economy by working with development industry to create more jobs right across the State,” said Guy.
“This funding is an important boost for jobs and productivity, by helping the growth and development of significant employment hubs across the metropolitan area and driving the expansion of the central city.
“It will kick start the major employment clusters at Monash, Latrobe, Sunshine and Fishermans Bend, urban renewal a framework for expanding the central city and a metropolitan-wide open space strategy, to promote growth and investment, further increasing their attraction as great mixed use places for businesses, workers and new residents.
“These job centres are a fundamental principle of Plan Melbourne, our new plan for the city, and they mean more jobs and services in Melbourne’s middle and outer suburbs,” he said.
Planning will also begin for urban renewal areas at Cremorne and Collingwood, and along railway corridors from Huntingdale to Dandenong, Brunswick to Batman, and North Richmond to Victoria Park, according to Guy.
“Unlocking land opportunities across Victoria and expanding our central city and urban renewal areas will not only deliver more jobs, more housing and transport options, it will be a major boost for the State’s productivity and economic growth over the next 50 years,” said Guy.
The Victorian branch of the Property Council of Australia has criticised the Victorian government's new property tax despite supporting the increased infrastructure investment, with deputy executive director Asher Judah claiming that the government has an "unhealthy addiction to property taxation."
"The Property Council will vigorously oppose the introduction of a new $17.1 million tax on apartment buyers to fund the activities of the new Metropolitan Planning Authoirty," said Judah.
"While we welcome the increase in funding for the MPA, a government projecting multi-billion surpluses shouldn’t be introducing new property taxes. This action combined with the 2013 expansion of the Congestion Levy exposes a Government with an unhealthy addiction to property taxation.
"Property owners across Victoria will also be uneasy about the government’s plans for new taxes via asset value capture mechanisms (AVC). AVC already exists in the form of land tax and local council rates. Any move by the government to triple tax property value uplift will face fierce opposition from the industry.
"Over the next four years, tax revenue sourced from property will increase by over $2.3 billion. Increases in Stamp Duty, Land Tax, Fire Services Property Levy and the Car Parking Levy each reflect a growing and unhealthy addiction to property taxation."
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jrichardson-uRX5hFdKfN

Victoria’s budget: New tax for $1 million property projects to fund Plan Melbourne scheme

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The RBA left the cash rate at 2.5% for the ninth month in a row, which is good news for property owners. 
However it always surprises me how people focus on the short-term movement in interest rates when deciding if they should transact in the property market. The reality is if a 2% increase in interest rates forces a property owner into a position where they have to sell then maybe they should not buy at all.
The main requirement of investing in property is to be in a position where you can hold the property for the long-term and to buy something that grows in value.
I’ve said it time and again that the residential investment property is a long-term proposition. The property market takes around seven to 10 years to move through a full cycle; from low capital growth/high rental yield, to high growth/low yield and back again.
Despite this, many property investors choose locations and property styles with little potential to survive and thrive throughout market fluctuations. Some investors choose locations that lack the long-term underlying demand to drive capital growth, whilst others choose property styles that don’t reflect trends in the way people want to live.
In other words, the property investment decisions that look good today may not prove so attractive in five, 10 or 20 years’ time. It’s essential to understand the nature of long-term economic and demographic trends, then select assets accordingly.
Interest rates rise and fall, but in the long-term, dwindling oil reserves and rising petrol prices will be a key economic trend influencing the property market. In the coming years, rising prices at the pump will make outer suburban living and commuting less feasible and less appealing. This will curtail the urban sprawl and increase demand amongst homebuyers for property in the middle suburbs close to public transport corridors, shops and schools.
At the same time, rising property prices in the inner and middle suburbs will put homeownership beyond the reach of more Australians, or at the very least, delay it significantly. Figures from the Bureau of Statistics tell us that the proportion of households renting from private landlords in Melbourne has increased from 22.8% in 2001 to 27.2% in 2011. Sydney is trending a similar way with almost 32% of its market inhabited by tenants.
The increase in tenant demand is not unique to Australian cities. Major global cities such as London and New York have 50% or more of their property tenanted. I am not suggesting we are a London or New York just yet but we are following a similar path and there’s every reason to expect that this trend will continue.
Because many tenants want to maintain the trappings of an urban lifestyle, the trend away from homeownership will increase demand for rental properties within walking or short driving distance from trams, trains, shops, cafes and entertainment precincts. For those that can afford to buy in these areas will also be their preferred choice. This two pronged demand from home buyers and investors will further boost capital growth prospects in the inner and middle suburbs.
Delaying having children is another trend set to influence the residential market well into the future. The median age for parents is 28.9 for women and 33.1 for men and women currently have an average of 1.9 children, compared with 2.8 in 1981.
This trend has resulted in the average number of people per house almost halving over the last 100 years from 4.5 in people to 2.6. In addition single person households have jumped from 22.9% to 24.4% over the last 10 years.
The shrinking size of the family unit means that demand for low maintenance, compact dwellings will increase, whilst demand for the conventional sprawling home on a quarter-acre outer suburban block will soften.
When you look at all these trends in their entirety, it’s clear that pockets of the middle suburbs close to public transport, shops and schools will provide feasible long-term opportunities for residential property investment, particularly for investors who have been priced out of the tightly held inner suburbs.
Mark Armstrong is a director of <a href="https://www.ipropertyplan.com.au/">iProperty Plan</a>, which provides independent analysis and tailored advice to investors and home buyers.
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marmstrong-sd3emVLPPb

Future-focused investing

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An article in the weekend Financial Review opened with:"Macquarrie Group, a bellwether for the strength of the office leasing market, is expanding."
And this clearly accords with a recent report released by BIS Shrapnel, which confirmed the office recovery would be stronger in "service and trade exposed markets like Sydney and Melbourne, but weaker in the mining-based markets such as Perth and Brisbane".
<img src="/images/2014/05/06/lang%20may%207%20one.png" alt="">
Source: Knight Frank/Australian Financial Review.
For Melbourne, you are now seeing strong demand in and around the city fringe — mainly within Southbank and the Docklands precinct.
Developers in these areas enjoying obvious cost advantages, which are then reflected in a lower rent profile for their prospective tenants.
And this is what led the likes of ANZ and NAB to relocate to Docklands, over a decade ago.
A growing number of major corporate tenants are progressively realising they no longer need be located within the heart of Australia's CBDs.
Instead, they can pre-commit to prime-grade Offices at very competitive rentals — and have that accommodation designed and fitted out, to meet their specific needs.
And this demand appears to be flowing through to established suburban markets as well.
With most of these new developments having significant pre-commitment from major tenants … this should curb the tendency for speculative development, over the next 3 to 5 years.
And this will help safeguard against an oversupply of space, within the Sydney and Melbourne office markets.
 
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chrislang-EQKojcgJPV

Demand for office space on the improve

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Over the next 40 years, Australians aged over 65 will make up over 25% of the population, according to the Treasury’s 2010 Intergenerational Report.
With baby boomers set to drive demand for retirement housing, specialist property developer Halcyon has launched two new Queensland developments aimed at the over 50s market.
Halcyon engaged Brisbane based design firm DC8Studio to help tailor Halcyon Glades at Caboolture and Vision by Halcyon at Hope Island to the needs of the retirees.
<img src="/images/2014/05/06/Riccardo%20Rizzali%20DC8Studio.jpg" alt="">
According to DC8Studio director Riccardo Rizzalli (pictured above), Halcyon’s target market are retirees who are looking to maintain an active lifestyle.
 “The people who come to live in Halcyon communities are forward thinking in their approach to retirement living,” he said.
“That is to say, they are very active people, who are looking forward to a happy and healthy life post working.
“There is a term that is used often, that these baby boomers aren't retiring they are ‘retreading’.
“This is really a beginning of a new journey for home owners and this was strongly reflected in our design brief.”
A report released in April by housing company Lifestyle Communities showed that although half of those surveyed were reliant on the sale of their family home to sustain their current lifestyle, there was a lack of suitable stock to facilitate post-retirement downsizing.
Halcyon joint managing director Bevan Geissmann said that maintaining a high quality of life post retirement was an important focus for the company.
“The downsizing process involves freeing up capital for retirees to spend on recreational pursuits or general living expenses,” said Geissmann.
“But today’s baby boomers have high expectations of their retirement lifestyle, so location and design of the home are both vitally important.
“As a developer of over 50s communities our focus weighs heavily on these aspects.
“It’s why we invest a lot of time into researching market trends, finding the right sites, developing masterplans and creating homes that respond to the needs of modern seniors.”
Glades at Caboolture (pictured below) is the company’s most affordable development to date. The 178 home community will include a variety of recreational facilities, including a swimming pool and gymnasium, a cinema, library, bowling green, tennis court and recreation centre. Prices range from $335,000 to $467,500.
<img src="/images/2014/05/06/Halcyon%20Galdes%20street%20scape.jpg" alt="">
At the opposite end of the price spectrum, Vision by Halcyon (pictured below) is being marketed as a luxury development, with 88 homes, a 52 berth marina and a lifestyle and aquatic precinct. Homes at Vision are priced from $559,000 with the most expensive property available at $1.25 million.
<img src="/images/2014/05/06/halcyon-may-6-breakout.jpg" alt="">
More on Halcyon: 
<a href="/expert-insights/building/gold-coasts-60-million-vision-by-halcyon-targeting-over-50-downsizers">Gold Coast's $60 million Vision by Halcyon targeting over-50 downsizers</a>
 
 
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Halcyon launches two new developments for over 50s market

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In the current low interest rate climate, many first home buyers may be confused about the best option for their first home loan.
Choosing your home loan means striking a balance between your varying priorities. Are you after low fees? Or are you more interested in being able to capitalise on interest rate cuts? Maybe you’re happy to pay a bit extra now for protection against future rate hikes.
To help you with the daunting task of choosing your first home loan, Property Observer has four key tips:
<ol>
<li>
THINK LONG TERM Be prepared for your life circumstances to change over the course of your mortgage. You may be employed full time with a steady income, but there are lots of things that can affect your ability to make repayments further down the line. Babies, break ups and getting the boot at work can all make a serious dent in your financial plans. Think realistically about your life five or 10 years down the track, because you are about to make one of the biggest financial commitments of your life. 
</li>
<li>
FINANCE FIRST Before you’ve found your dream home, work on finding your dream mortgage. Speak to a mortgage broker prior to purchasing a home and look into securing a home loan pre-approval – while it isn’t a total guarantee that you will be able to finance your house, it’s as close as you’ll get. Getting pre-approval can help real estate agents take you seriously and give you an idea of your budgetary constraints. 
</li>
<li>
VARIABLE OR FIXED? With interest rates at a record lows, fixed rates have definite benefits. A fixed rate mortgage will lock your interest rate in and protect you from future rates hikes for a set period, usually three years. Fixed rates are also generally at competitive levels at the moment. However, there are many other factors beyond interest rates will determine what the best loan is for you. You may benefit from low monthly fees, a flexible loan arrangement or discounts for bundling your accounts with a single lender. Don't be afraid to shop around. A good mortgage broker will help you decide what is best for you. Once you’ve decided on a loan, it’s wise to revisit your loan with your broker on a yearly basis to see if it’s still the best arrangement for you. 
</li>
<li>
KNOW YOURSELF Choosing the best home loan is all about full disclosure and being honest with yourself about your finances. Many lenders offer loan repayment calculators that will help you determine how much you can afford to pay each month. While frugality generally pays, you may find that you just can't live comfortably without a certain level of extra spending money each month, so leave yourself a little room to move if you can. And remember, your financial decisions will determine what loans you have access to, especially now that your credit history includes more detailed information including when you pay your bills. </li>
</ol>
Shopping for your first home is an exciting time, and it's hard to reserve quite the same amount of enthusiasm for mortgage shopping. But taking the time to choose the right home loan can save you a lot of time and a lot of money down the track.
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First home buyers: four tips for choosing a home loan

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GUEST OBSERVATION
So you’ve made it to the crucial stage of selling your home: the inspection.
Think of the open house as a first date with your prospective buyer, you only get one chance to make a lasting impression.
While it is common knowledge to de-clutter and clean every nook and cranny in the house, what is the key to making your home stand out so that it has the best chance to sell for a great price quickly?
It’s important to remember that a well-presented home gives buyers the impression that the property is well maintained and therefore, chances of encountering hidden problems post-sale are minimal.
You are permanently on show
Although you will not be letting people into your home all day, every day, there is a good chance you will have people driving by to look at the home and assessing the street appeal from the minute the property hits the market.
In some cases, this is a way that properties are shortlisted. If a potential home buyer likes photos of your home, they might go ahead and do some research on the street appeal and what other houses in the street are like before they attend an inspection.
You always have a chance to make an impression before the buyer contacts an agent, so here are some “housekeeping habits” to get into in order to maximise your chances of drive-by buyers wanting to see more:
<ol>
<li>Make sure your front gardens and lawns are well kept and maintained; 
</li>
<li>Remove all junk mail and newspapers from the letterbox and yard as they arrive; 
</li>
<li>Park the cars in the garage, if possible; 
</li>
<li>Avoid having rubbish out for collection on the kerbside, and; 
</li>
<li>Each night before sunset, turn on all outdoor lights.</li>
</ol>
Set the mood
You might not know what the potential home buyer is thinking, but you can do your best by making them feel positive and by creating a welcoming and comfortable atmosphere in your home.
A great way to set the mood is to think about the senses; what the prospective buyer will experience when inspecting your home.
For instance, you can open all windows at least an hour before an inspection to chase away any “house smells”. You can also try placing a cinnamon stick in a cup of water in the microwave for two minutes, or plugins, candles and oils to add a subtle fragrance in your house.
To add to the mood you can play some non-offensive music in the background, keeping in mind that everyone has different tastes.
And do remember to adjust room temperature accordingly, making sure that it is comfortable for visitors walking in and out of the house.
All trimmings great and small
Whether you already accessorise or not, it’s the little things that help create a great impression.
For example, sprucing up cushion covers, putting your newest towels in the bathroom and clearing your paperwork off your desk [no matter how neat it is] go a long way in creating a large but lasting impact of the house and its owners.
Other tips and ideas include:
<ol>
<li>Buy fresh flowers, even if it is simply a centerpiece for the dining or coffee table. 
</li>
<li>Straighten and align photographs and art on walls. 
</li>
<li>Turn off all electronic devices such as computers and televisions. 
</li>
<li>Leave toilet seats down. 
</li>
<li>Leave all internal lights and lamps on during inspection.</li>
</ol>
A home that is a fresh, cared for, low-maintenance property is a something most people are very attracted to so the day your home goes to market should be the best it has ever looked.
Inspection time is the moment to make your home shine and stand out from the competition and where you aim to gain the maximum price in the shortest time period.
Naomi Findlay is the award winning founder of the <a href="https://www.instituteofhomestaging.com.au/" target="_blank">International Institute of Home Staging</a> (IIHS) and <a href="https://www.silkstaging.com.au/" target="_blank">SILK Home Staging &amp; Styling</a>. She is also the author of a bestselling book, 'Ignite Your Property Mojo'.
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jake-cSmGT7VXVf

Open house inspections: Applying the finishing touches

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The Melbourne education entrepreneur Shesh Ghale has snappily sold Tomasetti House in Melbourne’s CBD for $16.2 million.
The eight-storey building at 277-279 Flinders Lane was bought in 2007 for $12.2 million and used in part for his headquarters. 
The marketing was through <a href="https://commercialpropertysearch.savills.com.au/7572/Sale/Melbourne/277-279-Flinders-Lane" target="_blank">Savills agents Clinton Baxter and Nick Peden</a> who advise it was bought by local private investor who outbid two offshore mainland Chinese buyers.
Set on 643 square metres of land, it is currently 93% leased.
The property will deliver a 7.1% yield fully leased with a fully let net rental of $1,156,870 per annum.
The eight-level Tomasetti House building, with 3,818 square metres of office and retail area, was briefly listed in 2011 with $15 million hopes.
Ghale is the co-founder of the Melbourne Institute of Technology which is undertaking the refurbishment of the 1920s Argus Building on the corner of Elizabeth and La Trobe streets into a 3,000 student campus.
His plans for a $450 million hotel-and-­apartment twin tower complex overlooking ­Melbourne’s Flagstaff Gardens near the Queen Victoria Market is yet to secure approval.
The application is for two towers of 50 and 30 storeys with a 210-room hotel and 609 apartments at the corner of William and Franklin streets with plans for 279 public car parking spaces for market visitors and a 372-space public bike hub with showers, gym and pool.
The development architect is Elenberg Fraser.
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jchancellor-FAypfDUnLy

Mebourne property developer Shesh Ghale sells Tomasetti House

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The practice by unethical real estate agents to – ‘quote them low and watch it go’ could very well finally be a thing of the past – well in Queensland anyway (for starters). Governments from all political persuasions have struggled for decades to establish a best practice platform for the real estate industry.
Queensland is close to implementing the new legislation although they are struggling at the last hurdles given they are seeking that agents are not permitted to provide any price guides. The reforms have now been altered to permit agents providing a price guide on the internet.
This just keeps getting dumber and dumber given this whole process could be fixed so easily – all that’s required is for the vendors to publish their reserve price to all parties making inquiries. The prospective purchasers then make up their own minds as to what they believe the property is worth based on the published reserve price – a clean and transparent selling process.
I have always argued (successfully) that the difference between a good real estate agent and an average one is about 10% of the sale price. The difference by not quoting the agents price guide is that this figure is generally skewed to the attraction price as against the selling price which is exactly what should be the case in this day and age.
If a buyer wants to pursue a property at the vendor’s reserve price then all well and good. If on the other hand they construe that the expectations are too high then let the property run a reverse course – which is interesting as this then goes back to the respective agent’s negotiating skills. I’m not exactly sure what parts of this the agents don’t get as reserve price quoting will reward the agents with superior negotiating skills – which is exactly what vendors should be looking for.
There is a great role for public auctions in the real estate industry, just the system requires critiquing because rogue agents will always struggle with the truth. Watch this debate get very heated in coming weeks and months although rest assured there will be major changes across the board to the Australian property auction system.
Another fascinating week that had the “experts” (whatever they are) calling the end of the biggest Sydney property boom in a decade – what a load of rubbish!
To add some weight to these idiotic statements there are approximately 637 (and growing) suburbs that make-up Sydney. Yet in typical lackadaisical reporting fashion we read “dwelling values across Australia’s capital cities have recorded declines” – so they take the weighted averages over 637 suburbs in the case of Sydney to get an accurate positioning? Anyone applying this methodology is simply delusional as this in no way accurately defines real estate market trends – until such time as it is suburb by suburb this collective data is as useful as an ashtray on a motor bike.
<a href="https://www.rwm.com.au/files/2014/05/30-04-2014-1-59-49-PM.jpg"><img class="aligncenter size-full wp-image-8520" src="https://www.rwm.com.au/files/2014/05/30-04-2014-1-59-49-PM.jpg" alt="30-04-2014 1-59-49 PM" width="647" height="342"></a>
Source: Digital Finance Analytics
<a href="https://www.rwm.com.au/files/2014/05/30-04-2014-1-58-58-PM.jpg"><img class="aligncenter size-full wp-image-8521" src="https://www.rwm.com.au/files/2014/05/30-04-2014-1-58-58-PM.jpg" alt="30-04-2014 1-58-58 PM" width="664" height="361"></a>
Source: Digital Finance Analytics
The latest monthly banking statistics from APRA identify consistent lending to the end of March 2014. In February owner-occupied and investment loans were $1.231 billion and in March they came in at $1.236 billion. The ‘Big Four’ increased their market share from 84.3% to 84.4% which will have many suggesting that should there be a correction they will be in all sorts of bother.
What I would like to see is a graph showing where their respective loans were as we should remember during the global financial crisis (GFC) Mosman was tipped as having the highest delinquency rate in Australia where it was later proved it had the lowest.
As they say, be careful about calling yourself an expert. An ex is a has–been and a spurt is a drip under pressure. For some, it’s human nature to predict/promote themselves as some type of modern day Nostradamus who quite remarkably possess this innate ability to read the future.
Recently we read that in America, Dr Marc Faber is predicting that this year we will witness a 1987-type stock market crash although this time it will be much more severe. For those who have no idea what exactly happened here it is <a href="https://www.federalreserve.gov/pubs/feds/2007/200713/200713pap.pdf" target="_blank" title="Black Monday – 1987.">Black Monday – 1987.</a>
Given what transpired recently in the GFC, I would think that the vast majority are erring on the side of caution – which history has conclusively shown to be the smartest path.
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robertsimeon-hRNTwJyXkQ

Is the public auction system going – going – gone?

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It’s that time of year again when tens of thousands of investors from around the globe descend on Omaha, Nebraska, to hear billionaire Warren Buffett dole out his investment wisdom.
Along with Buffett’s <a href="https://www.smartcompany.com.au/leadership/35872-five-pearls-of-wisdom-from-warren-buffett-s-2014-letter-to-berkshire-hathaway-shareholders" target="_blank">annual letter to shareholders</a>, the annual shareholders’ meeting for Buffett’s investment group Berkshire Hathaway is one of the biggest events on the investment calendar, with the “Oracle of Omaha” always generous in his comments and advice.
Buffett is also not shy on speaking on issues that are important to him and in the lead up this year’s meeting <a href="https://online.wsj.com/news/articles/SB10001424052702303948104579536184228959734" target="_blank">caused a stir when he took aim at the Omaha hotel industry for “price gouging” his visiting shareholders</a>. He even went one step further and suggested his fellow investors could save a few bucks by booking accommodation through online startup Airbnb.
This year, more than 30,000 shareholders were <a href="https://dealbook.nytimes.com/2014/05/03/live-blog-berkshire-hathaways-2014-shareholder-meeting/?_php=true&amp;_type=blogs&amp;_r=0" target="_blank">keen to hear</a> Buffett speak about Berkshire’s first-quarter earnings, in which net income was down, and the investment guru’s decision to abstain from voting against Coca-Cola’s controversial executive compensation plan.
Here’s five pieces of wisdom from this year’s meeting.
<ol>
<li>
On playing nice around the board table Buffett said there is a need for board directors to be diplomatic, and that trying to force change amounts to rude corporate behaviour. “I’ve voted for compensation plans in various places that are far from what I would have designed myself. That is the way boards work. You keep belching at the dinner table, you’ll be eating in the kitchen.” 
</li>
<li>
On the nature of corporate boards “The nature of boards is that they are part business and part social and people behave sometimes with their business brain and sometimes with their social brain”. 
</li>
<li>
On climate change “I don’t think in making a decision on Berkshire and other companies that climate change should be a factor in the decision-making. A lot of people are over-climbing that they know the impact. We are agnostic. It’s not there isn’t global warming because there is, but those that say they know its impact are talking out of their hats”. 
</li>
<li>
On managing Berkshire’s culture “Managers, when they work, are joining a business that is unlike anything else. It’s a huge corporate asset and we want to maintain that message well beyond my lifetime.” 
</li>
<li>
On concerns about Berkshire Hathaway’s growing cash stockpiles “We are finding things to do that tend to sop up the cash. We will always have around $20 billion around Berkshire; we will never be dependent on the kindness of strangers, which didn’t work well for Blanche DuBois. We cannot depend on anybody else to keep our own strength and maintain our operations.”
</li>
</ol>
This article first appeared on <a href="https://www.smartcompany.com.au/" target="_blank">SmartCompany</a>.
Picture courtesy of Flickr/<a href="https://creativecommons.org/licenses/by/2.0/" target="_blank">Creative Commons</a>.
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ekeating-PWvazjYE25

Five gems from Warren Buffett’s annual shareholders’ meeting

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GUEST OBSERVATION
Prime Minister Tony Abbott has suggested that <a href="https://www.couriermail.com.au/news/opinion/opinion-any-budget-pain-will-be-australias-gain-in-the-longterm/story-fnihsr9v-1226898755245">“You can’t fix the economy unless you fix the budget</a>“.
If we are to believe the over-the-top Commission of Audit report it will take far more than this to bring the budget to surplus by 2023. But few seriously think many of the recommendations will be implemented.
While it is correct to say that lower debt would allow more government revenue to fund worthwhile projects to improve economic outcomes, it is not clear why lower (or zero) deficits or debt necessarily implies the economy will perform better.
A balanced budget may be a very valuable, but not essential, condition for good economic management. There are even fellow economists who argue (in my view wrongly) that increasing deficits and debt are necessary at the moment to increase current economic growth and reduce unemployment.
How Australia’s economy is faring
A good way to judge how Australia’s economy is faring is to compare key indicators such as inflation, unemployment rate and GDP growth compared to other industrialised countries, especially those who make up the <a href="https://www.oecd.org/about/membersandpartners/list-oecd-member-countries.htm">OECD</a>. I’ve chosen OECD countries comparable to Australia: the United States, United Kingdom, Germany and Japan, as well as the OECD average.
Inflation: By almost all the standard economic indicators the Australian economy is doing better than most other industrialised countries – even though our inflation rate is somewhat higher, we have an enviably high rate of growth and low rate of unemployment compared to other OECD countries.
<img src="https://62e528761d0685343e1c-f3d1b99a743ffa4142d9d7f1978d9686.ssl.cf2.rackcdn.com/files/47507/width668/ynjv5tcr-1398912827.jpg" alt="">
Inflation: Australia compared to OECD
Australia is a very rich country by world standards and the economy does a pretty good job of developing wealth and opportunities for most people. These comparatively glowing figures, however, mask the fact that there are those who do not fare so well in the market economy.
Welfare and unemployment: Despite being one of the richest countries in the world, 20% of Australian households rely almost entirely on welfare payments. Those of working age receiving benefits, rather than being in work, make up over 16% of the labour force.
<a href="https://62e528761d0685343e1c-f3d1b99a743ffa4142d9d7f1978d9686.ssl.cf2.rackcdn.com/files/47508/area14mp/6dj3x44s-1398912828.jpg"><img src="https://62e528761d0685343e1c-f3d1b99a743ffa4142d9d7f1978d9686.ssl.cf2.rackcdn.com/files/47508/width668/6dj3x44s-1398912828.jpg" alt=""></a>
 Unemployment: Australia compared to OECD countries
In addition many are underemployed, working fewer hours than they want to. By changing the way we measure joblessness we could easily double the official estimates of unemployment.
As Ken Henry <a href="https://theconversation.com/why-rising-youth-unemployment-demands-our-urgent-attention-25990">pointed out recently in The Conversation</a>, youth unemployment is a particular concern. The rate among 15-19 year olds is currently over 16%, and is 9% among 20-24 year olds.
<a href="https://62e528761d0685343e1c-f3d1b99a743ffa4142d9d7f1978d9686.ssl.cf2.rackcdn.com/files/47506/area14mp/sdwncqpb-1398912827.jpg"><img src="https://62e528761d0685343e1c-f3d1b99a743ffa4142d9d7f1978d9686.ssl.cf2.rackcdn.com/files/47506/width668/sdwncqpb-1398912827.jpg" alt=""></a>
Youth Unemployment: Australia compared to OECD countries
Productivity: Also, recent concerns have been expressed about Australia’s <a href="https://theconversation.com/why-we-should-approach-claims-of-a-productivity-crisis-with-caution-26000">levels of productivity</a>. In other words, we need to make better use of the resources already employed as well as do better by putting unemployed resources to work. This becomes particularly important given the ageing of the population.
<a href="https://62e528761d0685343e1c-f3d1b99a743ffa4142d9d7f1978d9686.ssl.cf2.rackcdn.com/files/47512/area14mp/kqwqbg56-1398912836.jpg"><img src="https://62e528761d0685343e1c-f3d1b99a743ffa4142d9d7f1978d9686.ssl.cf2.rackcdn.com/files/47512/width668/kqwqbg56-1398912836.jpg" alt=""></a>
OECD Labour Productivity
Debt: While there has been a lot of public concern expressed about reducing Australia’s debt levels, Australia’s debt-to-GDP ratio - a key indicator of how well a country can pay back its debt without incurring more debt - is significantly lower than the OECD average and also much lower than countries such as Japan. In fact, Australia’s position <a href="https://media.smh.com.au/news/federal-politics/joe-hockey-grilled-by-british-presenter-5373145">is the envy of other countries</a> in the OECD.
<img src="https://62e528761d0685343e1c-f3d1b99a743ffa4142d9d7f1978d9686.ssl.cf2.rackcdn.com/files/47510/width668/kyz8gwkp-1398912830.jpg" alt="">
OECD Govt Debt
<h2>How the budget is faring</h2>
The structural deficit: So, it can be demonstrated that Australia’s economy is strong. However, there is concern that Australia, on its current trajectory, is heading for (or well on the way) to an unsustainable structural deficit. This is where the budget may most influence economic growth, as it impedes the ability of a government to plan future spending.
It is generally accepted that the actual government budget will (and should) fluctuate between deficit and surplus during, respectively, downswings and upswings in the economy. While there is a lot of public attention on whether the year-on-year budget balance is in deficit or surplus, and by how much, the structural balance is the more important concept. The structural balance is basically the budget deficit or surplus after accounting for cyclical movements in the economy - the balance when conditions are normal or average.
We have heard much in recent budgets about Australia’s structural deficit, backed by <a href="https://www.aph.gov.au/~/media/05%20About%20Parliament/54%20Parliamentary%20Depts/548%20Parliamentary%20Budget%20Office/Parliamentary%20Budget%20Office%20Stuctural%20Budget%20Balance.pdf">several reports</a> indicating the structural budget balance is in pretty poor shape.
As I have <a href="https://theconversation.com/pbo-and-treasury-reports-confirm-it-the-deficit-is-unsustainable-14559">pointed out previously</a> in The Conversation this structural imbalance is a result of irresponsible spending policies of successive governments, both Coalition and ALP but particularly by the Rudd/Gillard governments. New spending initiatives, such as the Gonsky funding changes and the NDIS, have been brought in without plans to raise the revenue to pay for them, and often, without due analysis.
And bad luck for Tony Abbott that he is left with unfunded big budget items in the future to deal with, as a legacy of the former government. The only way to reduce the deficit is through reduced expenditure and/or increased revenue. As each idea of how this can be done is <a href="https://theconversation.com/abbott-on-back-foot-over-tax-levy-parental-leave-26043">shot down</a> on a daily basis, the Coalition government is realising what a difficult thing this is to sell. The hostile reaction to the Commission of Audit report at least might mean some of the unpopular decisions in the May budget are, by comparison, greeted with relief
How to “fix” the budget
There is, however, more to government policy than balancing the budget. Policy should be made in the context of a long-term vision for the economy. This includes getting everyone who wants to into work, providing the public infrastructure needed to increase productivity, the right mix of private and government provision of health and education, and reform of the regulatory environment.
The continuous economic growth that the Australian economy has achieved, even during times when other countries’ economies experienced recessions, are largely due to the economic reform process carried out during the Hawke/Keating and Howard terms in government. Economists credit the increased productivity levels of the second half of the 1990s and early 2000s as resulting from microeconomic reform and the adoption of new technology.
For policy to facilitate reform in the economy it needs to address impediments to growth in the current tax system and in government programs – it is not only the quantity (size of the deficit) but the quality (of taxation and spending) which is important.
Among the obvious things that need to be addressed are – education participation, infrastructure spending, industrial relations, a greater role for markets, and reducing work and investment disincentives inherent in our benefits and taxes.
While short term measures such as expenditure cuts and debt levies may have an impact on the size of the deficit, they cannot “fix” the economy. The economy is not in disarray, and long-term budget deficit and debt issues require well thought-out policy on the structure of taxation and expenditure.
Phil Lewis is professor of economics at University of Canberra.
This article was originally published on <a href="https://theconversation.com">The Conversation</a>.
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