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“Minister Chanthivong and his team have shown real leadership in replacing an outdated two-year bond with cover that matches the lifespan of the buildings people are buying into.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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In recent years, job insecurity among young people has risen to unsettling proportions. Last year, <a href="https://www.economist.com/news/leaders/21576663-number-young-people-out-work-globally-nearly-big-population-united" target="_blank">The Economist</a> reported that as many as 290 million 15-24 year olds were not participating in the labour market — “nearly as large as the population of America”.
According to the <a href="https://www2.ilo.org/global/research/global-reports/global-employment-trends/youth/2013/lang--en/index.htm" target="_blank">International Labour Organisation</a>, 73.4 million young people – 12.6% – were expected to be out of work in 2013, an increase of 3.5 million between 2007 and 2013. Alongside this figure is “a proliferation of temporary jobs and growing youth discouragement in advanced economies; and poor quality, informal, subsistence jobs in developing countries”.
In Australia, the figures are less pronounced but still striking. As the <a href="https://www.actu.org.au/Images/Dynamic/attachments/6637/Lives%20on%20Hold%20-%20Unlocking%20the%20potential%20of%20Australia%E2%80%99s%20workforce.pdf" target="_blank">Independent Inquiry into Insecure Work</a> pointed out, casual work is concentrated among young people. One fifth of all casual workers are aged 15-19 and from 2001 to 2011 the prevalence of casual work increased significantly for this age group and to some extent for 20-24 year olds for the period, but far less for older age groups. Underemployment, defined by the ABS as part-time workers who are available to do more work, <a href="https://www.fya.org.au/wp-content/uploads/2013/09/FYA_HYPAF-2013_Digital1.pdf" target="_blank">rose significantly</a> following the global financial crisis and this trend has not abated.
Trends in youth employment
Five trends are worth noting. First, since the 1980s the number of full-time job opportunities for teenagers has been steadily declining.
Second, there has been an increase in the uptake of casual and part time work by young people in general (aged 15-24). As I have <a href="https://theconversation.com/youth-face-snakes-and-ladders-on-the-path-to-full-time-employment-10677" target="_blank">written elsewhere</a>, many want to work more but are unable to do so.
Third, beyond the impact of economic downturns like the financial crisis, globalisation is creating challenges for young people seeking work in Australia. As Bob Birrell and Ernest Healy <a href="https://theconversation.com/scarce-jobs-migrants-or-locals-at-the-end-of-the-job-queue-17496" target="_blank">pointed out last year</a>, young working holiday makers from overseas are intensifying competition for jobs with young local workers. Particularly vulnerable are those “without post-school education, who are seeking less skilled, entry-level jobs.”
The stark nature of competition for jobs globally is best illustrated in the book <a href="https://web.worldbank.org/WBSITE/EXTERNAL/TOPICS/EXTEDUCATION/0,,contentMDK:22670727~menuPK:282391~pagePK:64020865~piPK:51164185~theSitePK:282386,00" target="_blank">The Global Auction</a>. The authors note a German website advertising “cleaning, clerical, and catering jobs…offered by employers with a maximum price for the job; those looking for employment then underbid each other, and the winner was the person willing to work for the lowest wages”. In a highly competitive global labour market, could this be the future of working life?
Fourth, Birrell and Healy also highlight that a growing share of local workers aged 55 and over are staying in the workforce. Between May 2003 and May 2013, the share of those aged 60-64 in the workforce increased from 39% to 54%. This increasing competition for work particularly affects young people who are qualified but lack experience.
The final trend arises from a global mismatch between skills and jobs. A <a href="https://m.afr.com/p/australia2-0/young_underemployed_and_unwanted_wI5z7fLh6loFWKePz74sJJ" target="_blank">number of business surveys</a> confirm the perception that young people are underprepared for working life – ranging from foundational skills in literacy and numeracy, to soft skills such as communication and problem solving. The need to better develop these skills – though valuable – could also reflect a wider need to prepare young people for a world of insecure work. Serving as a kind of adversity capital that enables young people to be more adaptive, flexible and resilient, they also reflect the need to prepare young people for more fluid working lives in which the conventional notion of a career is obsolete.
Is full-time work becoming out of reach for young people?
Working life in general is increasingly competitive and “fluid”. The <a href="https://www.fya.org.au/wp-content/uploads/2013/09/FYA_HYPAF-2013_Digital1.pdf" target="_blank">rate of casualisation</a> across the Australian workforce increased from 18.9% in 1988 to around 25% in 2012. The levels of “non permanent” work and extent of casualisation are hotly contested, with many claiming casual work is valued by young people. It <a href="https://www.afr.com/p/insecure_work_claim_union_beat_up_BBih9jxHDIO4LIPz4pjZnJ" target="_blank">is argued</a>, for example, that “casuals do not want to lose their flexibility or their casual loading”, or that casual work is preferred “as it allows [casual workers] to take part in the workforce and balance family responsibilities or study commitments”.
But a question arises as to whether secure work awaits those ending their post-school study and training. Teenagers in part time jobs are <a href="https://www.fya.org.au/research/how-young-people-are-faring-2011/" target="_blank">statistically</a> only slightly more likely to move into full-time employment than those who are unemployed and since the latter half of the 1980s, the age at which young people enter full-time work has increased. Increasing levels of education amongst young people overall mean that those with poor education outcomes are likely to struggle in the labour market, but insecurity is not confined to those without sufficient qualifications.
There is no doubt that some young people prefer casual and part-time work because of the benefits that flexibility offers. But in the overarching context of labour market change, while things <a href="https://www.fya.org.au/wp-content/uploads/2013/09/FYA_HYPAF-2013_Digital1.pdf">do get better</a> past the age of 25, it would appear that for many, the option to secure full-time work is out of reach.
Lucas Walsh is associate professor and associate dean (Berwick) at the faculty of education at Monash University.
This article was originally published on <a href="https://theconversation.com">The Conversation</a>. 
 
<img width="1" height="1" alt="The Conversation" src="https://counter.theconversation.edu.au/content/22311/count.gif"> </body></html>

lwalsh-ak6CkZUAo5

Is job insecurity becoming the norm for young people?

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Marvellous Melbourne is set to hit our television screens on the Arena, Foxtel channel this Sunday night when the first installment of Australia’s Real Housewives reality broadcasting phenomenon premieres.
It's been billed as a mix of Kim, Kim and Kimmie. An antipodean mix of Kim Kardashian, along with Kim Cattrall from Sex and the City, and then of course our own  Fountain Lakes temptress, Kim Craig, nee Day.
Our property contrarians Jonathan Chancellor and Margie Blok both contend Sydney should next feature in the global franchise which also is filmed in New York, Beverly Hills, New Jersey, Atlanta, Orange County, the first in 2006, and Miami, among other US post codes. Even Vancouver, Canada. Two other versions, The Real Housewives of Athens and The Real Housewives of Israel, disappeared without trace.
Sydney Sunday Telegraph columnist Ros Reines wrote Sydney was the flashy heart and soul of the nation, and Melbourne just wasn't going to make much of a splash. "Don't get me wrong, that city has plenty going for it including some quirky shops, interesting little wine bars in laneways, pretty gardens and some major sporting fixtures including the Melbourne Cup and the Grand Prix."
Even cultural commentator Bernard Salt expressed surprised at the choice of city.
<img height="264" width="470" src="/images/stories/2014/02/21/RHOM-cast.jpg" alt="RHOM-cast">
The Real Housewives of Melbourne (left to right): Lydia, Gina, Jackie, Andrea, Chyka and Janet, picture courtesy of Arena TV
HE SAID:<img height="200" width="133" src="/images/stories/2013/09/06/jc-silhouette-5.jpg" alt="jc-silhouette-5" style="float: right;">
Move over Melbourne, or is it Mildura? The Aussie version of the Real Housewives franchise should really have always been in Sydney, the sparkling harbour city with hoardes of housewives who could provide all the excitement, opulence, aspirational glitz and excess associated with this show.
It remains to be seen if Melbourne’s Real Housewives - Chyka Keebaugh, Lydia Schiavello, Jackie Gillies, Janet Roach, Andrea Moss and Gina Liano – makes for compelling viewing.
I have my doubts that the Melbournites will be quite able to step into the big glamourous shoes set by their US counterparts such as the divorcees Camille Grammer, Kelly Killoren-Benisom and the singing countess, LuAnn de Lesseps.
Indeed Janet Roach, the Real Housewives of Melbourne champagne sipping millioniare property developer, is my big worry. Her spiel says fabulous and fun is the only way to describe the blonde bombshell who after leaving husband number two overnight is now living life to the max re-discovering herself, her freedom and what makes her happy. "Developing a massive over-55s lifestyle village in Mildura" is her current big project. So I made my enquiries in the small river town, and she'd certainly not yet left any impressions. A little more sleuthing only to uncover it's actually a caravan park she has planned. Presumably for grey nomads. It's actually a vineyard site just outside of Mildura, about 18 acres currently growing grapes for dried sultanas.
Apparently the deal's settlement awaits the upcoming harvest in the district known for its dry summers and mild winters - and being a great place for a round of golf on a Peter Thompson-designed course. Mildura is situated in north western Victoria, in the Sunraysia district, some 500 kilometres from Melbourne, on the mighty Murray River.
I gather the Gympie-born Janet Roach, aka Janet Forshaw, was interested in one of the two neighbouring caravan parks, and finding it not quite suitable, she then rang the vendor Joseph Nocera direct. He's going to keep his automotive works, I understand, which might be handy for those nomad oil changes. <a target="_blank" href="https://www.roccisano.com.au/real-estate/property/280280/land/vic/mildura-3500/lot-2-38-cureton-avenue/">He was wanting $1.5 million for the bigger entire holding on Cureton Avenue</a> (pictured below), but Janet isn't taking the lot. The suggestion from town planning sources is that she's proposing around 190 caravan sites.
{yoogallery src=[images/stories/2014/02/21/mil]}
Do you reckon anyone in Sydney with caravan park plans for Umina would get a word in edgeways in any Sydney Real Housewives series?
But I might be a tad too snobbish as the latest IBISWorld report out this week indicated travel service providers, especially cruise ship and caravan park operators, are enjoying a surge in activity from baby boomers keen to spend their hard-earned cash while they are in good health.
They say more grey nomads are hitting the open road, which is boosting revenue for the caravan parks and camping grounds industry. The industry is forecast to grow at an annualised 1.9% over the five years through 2013-14 to $1.4 billion despite the number of camping grounds declining.
Senior travellers currently account for 26.5% of the industry’s visitor nights – a figure IBISWorld expects will increase over the next decade.
Anyway when not getting the requisite approvals for the Mildura caravan park, Janet Roach keeps hereself busy on trying to <a target="_blank" href="/news">grow truffles on the Mornington Peninsula</a> under the business name, Mont Rouge Truffiere. She's previously known to have dabbled in property development at Diamond Creek and South Morang.
 
<img height="200" width="133" src="/images/stories/2013/09/06/mb-silhouette-4.jpg" alt="mb-silhouette-4" style="float: left;">SHE SAID:
Jonathan tells me he will be watching Downton Abbey on Channel 7, but he is spot on when it comes to the conclusion that it is Sydney with the wealth of material for the Real Housewives juggernaut which no one admits to watching, but everyone secretly does.
Popular Sydney lunchtime restaurants, including Catalina, Chiswick and Bather’s Pavillion, would be the first place to unearth an abundance of talent to fill a sextet of sirens to star in the show.
In fact, Judy McMahon, Catalina’s chatelaine, could be Sydney’s answer to Lisa Vanderpump, a restaurateur and long-standing cast member of  <a href="https://www.bravotv.com/the-real-housewives-of-beverly-hills">The Real Housewives of Beverley Hills</a>. I understand Jonathan is a big fan of Lisa Vanderpump, one of the most popular Real Housewives.
And Sheeva Tavakoli, the wife of Sydney plastic surgeon Dr Kourosh Tavakoli (who live in a $16.35 million harbourfront mansion at Darling Point) is the perfect Sydneysider to take the place of Toorak’s Andrea Moss who’s married to Melbourne plastic surgeon Dr Chris Moss.
Of course, a hot contender for Gina Liano’s legal spot is Sydney beauty and well-dressed barrister, Louise McBride, who lived in a clifftop mansion at Whale Beach before moving to an apartment in Potts Point, with plenty enough wardrobe space for her impressive couturier collection. It would be fun if she could pop over to Bomera to vist the $12.5 million landmark Italianate Potts Point sandstone mansion owned by Leanne Catelan who would also be a terrific Real Housewives candidate given her experience with family stoushes.
Leanne, the daughter of Ray Catelan, the late entrepreneur once behind real estate data company RP Data, and her sister Michelle - daughters from the first of Ray’s three marriages - were involved in a battle over their father’s estate following his 2011 death.
Tiffany's stores in the city and at Westfield Bondi Junction also could be locations to discover potential Real Housewives following in the footsteps of Joyce Giraud, a Real Housewives of Beverly Hills star, who was spotted shopping last week with her husband Michael Ohoven at Tiffany’s store on Rodeo Drive. With her red and black polka dot mini dress, black platform heels and huge shopping bags, the 38-year-old was hard to miss.
Hair salons are another obvious hunting ground for Real Housewives talent. Heading the Sydney list is the first floor Double Bay digs of celebrity snipper Joh Bailey, with its hundreds of well coiffed clients who live in multi-million dollar eastern suburbs homes.
And for that vital real estate ingredient in Sydney, where property is almost a religion, why not an estate agent – perhaps D’Leanne Lewis, Alison Coopes or Victoria Morish? Although, flamboyant World Square city agent, Monika Tu, of Black Diamondz, might give the eastern suburbs gals a run for their money.
Given Sydney has so much to offer Real Housewives, Jonathan and I quickly cobbled together a list of suggestions for Foxtel’s executive director of television, Brian Walsh, who hopes Melbourne's offering enthralls, bemuses and dazzles. Hopefully the cameras don't visit Mildura too often! 
Brian Walsh needn't actually stray far from his own highrise home to find the Real Housewifes of 2011, tres girly, but should he wish to diversify the series elsewhere, here are our suggestions:
<img height="34" width="25" src="/images/stories/flagtitletat.jpg" alt="flagtitletat" style="font-size: 14px; margin: 5px; float: left;">
Real Housewives of Mosman – the lower north shore’s beautiful harbour suburb with a smorgasbord of sporting types including horse trainer Gai Waterhouse, Sally Kahlbetzer (wife of polo player Markus Kahlbetzer who paid $18 million for Mandolong House, a vast non-waterfront estate) and a gaggle of rugby wives including Erica Gregan (wife of George Gregan), Julie Kearns (wife of Phil Kearns) and Lara Eales (wife of John Eales) who all reside in magnificent homes.
<img height="34" width="25" src="/images/stories/flagtitletat.jpg" alt="flagtitletat" style="font-size: 14px; margin: 5px; float: left;">Real Housewives of Vaucluse – no shortage of talent here including Erica Packer (estranged wife of billionaire James Packer), Susie Kelly (a founder of Industrie Clothing), Sanchia Brahimi (wife of chef Guillaume Brahimi), Ann Cam (missus of carpenter Scott Cam who paid $4.6 million for a three-level residence last year), Mariana Ipkendanz (the London-based Brazillian beauty who’s yet to occupy the Peter Stutchbury designed waterfront mansion which her husband has on the market for $60 million) and breakfast radio’s Jackie O who recently renovated a $2.7 million house with husband Lee Henderson.
<img height="34" width="25" src="/images/stories/flagtitletat.jpg" alt="flagtitletat" style="font-size: 14px; margin: 5px; float: left;">Real Housewives of Sylvania Waters – no respectable wife in “The Waters” would participate in a Real Housewives show considering the infamy and repercussions for Noelene Donaher, Australia’s first reality television star who, 20 years ago, had a spectacular burst of fame after starring in the BBC fly-on-the-wall series named after the suburb. But wouldn’t it be wonderful for the Real Housewives series to snare say Susan Stevens, wife of Glenn Stevens, Governor of the Reserve Bank of Australia who apparently plays the guitar at his local Baptist Church? However, it’s much more likely that the couple would agree to participate in the fabulous ABC series, Family Confidential.
<img height="34" width="25" src="/images/stories/flagtitletat.jpg" alt="flagtitletat" style="font-size: 14px; margin: 5px; float: left;">Real Housewives of Centennial Park – a small suburb with gracious parkside mansions and a bevy of suitable Real Housewives talent including society lioness Skye Leckie (wife of former Channel Seven boss, David Leckie, who spends weekends with her family at their Southern Highlands farm), Lisa Vandenberg (wife of spin doctor/wheeler dealer Grant Vandenberg) and Catherine Honan (a daughter of squillionarie Dick Honan, chairman of the ethanol producing Manildra Group, who owns a vast Hunters Hill waterfront home and a $10.05 million weekender at Palm Beach). Pity Divonne Holmes a Court sold out a few years ago. 
<img height="34" width="25" src="/images/stories/flagtitletat.jpg" alt="flagtitletat" style="font-size: 14px; margin: 5px; float: left;">Real Housewives of Sutherland Shire – a domain of WAGS and footballers wives including Lee Furlong (wife of cricketer Shane Watson), Sara Leonardi (art gallery owner and wife of cricketer Glenn McGrath) and Rebecca Stevens (wife of footballer Jason Stevens, a celebate author who wrote Worth The Wait). Of course, Jonathan’s pick of The Shire is the genetically blessed 27-year-old celebrity model, Tahyna Tozzi, who last month tied the knot with her professional dancer fiance, Tristan McManus, while Margie’s choice is Rachel Gilbert, a fashion designer and wife of former television chippy, Tom Williams.
<img height="34" width="25" src="/images/stories/flagtitletat.jpg" alt="flagtitletat" style="font-size: 14px; margin: 5px; float: left;">Real Housewives of Palm Beach - sun kissed starlets should be easy to round up in this northern beaches peninsula playground whose circa 1880 white lighthouse and golden sands already are etched in the minds of millions of viewers who tune into the television series, Home and Away. As well as some of the most expensive and exclusive beachside holiday shacks in Sydney, Palmy has dozens of potential Real Housewives including Heidi Middleton (Sass and Bide designer), Bec Cartwright (wife of tennis player Lleyton Hewitt), Shay Lewis-Thorp (a daughter of the late property developer Bernard Lewis who owns $7.4 million beachfront holiday house), Carrie Hayes Bellotti (Aspen spa/yoga studio owner and wife of banker Steve Bellotti who own an $8.4 million Iluka Road beachfront residence) and Belinda Henry (wife of banker Paul Henry) - sadly, blonde glamourpuss Amanda Nankervis no long lives in the swanky summer playground where she once reigned supreme.

<img height="34" width="25" src="/images/stories/flagtitletat.jpg" alt="flagtitletat" style="font-size: 14px; margin: 5px; float: left;">Real Housewives of Point Piper - Angela Fleming, the widow of grocery tycoon Jim Fleming who recently bought a harboufront apartment, Tiffany Tilley, who briefly turned her hand at selling children's designer clothes, and is the wife of Ben Tilley, who has recently rekindled his friendship with old school mate, James Packer. Then you'd toss up between Julia Ross, Kristy Hinze and Jodie Meares, who still owns there on the peninsula, but might well depart when she marries the rock-star fiance, former INXS frontman Jon Stevens.
Undoubtedly Brian Walsh will find his way into Queensland. 
<img height="34" width="25" src="/images/stories/flagtitletat.jpg" alt="flagtitletat" style="font-size: 14px; margin: 5px; float: left;">Real Housewives of the Gold Coast - hard to know where to start but you'd have to find a cameo role for A-Team Gold Coast socialite Donrecka "Chanel, Chanel, Chanel" Issakidis, wife of property developer husband Michael. She once had a gold-edged Rolls Royce key.
news@propertyobserver.com.au
       
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jchancellor-FAypfDUnLy

Melbourne's Real Housewives amid Mildura grey nomad caravan push

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The owner and managing director of Century21 Australasia, Charles Tarbey, says that people who have taken Harry Dent's advice should be holding the US property commentator to account.
In the country to speak at the Secure the Future events in Sydney and Brisbane, Dent has <a href="https://www.propertyobserver.com.au/news/property-crash-is-like-popping-popcorn-especially-in-melbourne-harry-dent/2014020567560" target="_blank">claimed</a> that Austalian property prices will drop by up to 50% as our property market bubbles bursts.
But far from being in a "bubble", Tarbey says that our property market still hasn't experienced a full recovery. 
"He said this last year, he said this the year before, and one of these years, he’s going to be right," Tarbey said of Dent. 
"But in the meantime, you should be taking that guy to account.
"If you had have listened to Harry Dent two years ago when he came out, and you didn’t buy, you should be taking that guy to task right now, and saying 'You said, two years ago, that prices in Australia were going to drop 50%. You said that, two years ago, publicly. Why are you saying it today? I didn’t buy, when I could have bought and sold three or four properties in the last 24 months. But I didn’t because of you.'"
Australia is yet to see a real recovery in discretionary spending after the global financial crisis, said Tarbey, pointing to the sluggish performance of the holiday property market.
"When you have a holiday home, and you have your own home, and you’re forced to sell one, which is going to go first? It’s going to be the holiday home," said Tarbey.
"So the discretionary spending market and the coastal areas, and some magnificent holiday areas, drop by 50%. They haven’t actually started to recover."
According to Tarbey, we'll see real signs of a strengthening market when top end buyers in the holiday market are spending again.
"Harry Dent is wrong in the sense that we have not even had a recovery in the market," said Tarbey.
Tarbey claims that countries that are considered discretionary markets by overseas buyers tend to be the most exposed to global economic conditions, citing Spain as an example.
"There were massive, massive amounts of complexes and apartments to cater for the overseas investors and so on," said Tarbey. 
"So Spain became a large discretionary spending area for investors." And when the GFC hit, Tarbey says, it was felt in the country's property market.
"That was the first place [buyers] were going to trash and let go, and that affected the market. But Australia’s not like that.
"What Harry Dent needs to understand," said Tarbey, "is that the reality is that 90% of Australia’s population lives in capital cities.
"So there’s so much out there if we need to spread. 90% of the people in Australia live in the coast. We live in larger houses on average than our counterparts in Europe. We live in an economy that’s been stable and safe, that’s been distant from many of the other issues in the world.
"We live in an environment where we have a climate that is mild, to say the least, most of the year, not erratic like what you see in the US. And we have a political system here that’s been tried and tested and is very strong.
"Why wouldn’t you pay more to live here?"
<a target="_blank" href="mailto:jrichardson@propertyobserver.com.au">jrichardson@propertyobserver.com.au</a>
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jrichardson-uRX5hFdKfN

Harry Dent is wrong and should be taken to task: Charles Tarbey

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A combination of buoyant market conditions and low interest rates is largely responsible for driving up property values over the past 12 months. 275 suburbs now have a median house value of more than $1 million. For units, the news isn’t that exciting; just eight suburbs share a median unit value of more than $1 million.
Topping the list for houses is Sydney’s Point Piper with houses recording a whopping median value now sitting at $5,817,581. Other Sydney suburbs making it to the top ten included: Woolwich, Darling Point, Centennial Park, Cremorne Point, Bellevue Hill. Peppermint Grove in WA, and Victoria-based suburbs, Deepdene and Toorak, also made the cut to the top 10.
<img src="/images/stories/2014/02/21/kusher-feb-21-one.gif" width="470" height="239" alt="kusher-feb-21-one">
Of the 212 suburbs with a median price of at least $1 million, 56% were in Sydney in New South Wales and 20% of suburbs were located in Victoria. These were then followed by Western Australia (12%), Queensland (6%), South Australia (3%), Australian Capital Territory (2%) and Northern Territory (0.5%).
Across council areas, Ku-ring-gai in Sydney has recorded the greatest number of suburbs in the million dollar club with 15 suburbs having a median price of $1 million or greater.  Other council areas with a substantial number of $1 million plus suburbs include: North Sydney (12), Woollahra (10) and Brisbane, Canada Bay and Boroondarra (each nine).
<img src="/images/stories/2014/02/21/kusher-feb-21-two.gif" width="470" height="241" alt="kusher-feb-21-two">
Although with just eight in the list of units where values reached over the one million dollar mark, it was Sydney that again scored top results in the list of best performers by exceeding the million dollar value mark. Included in the list of Sydney suburbs are Dawes Point, Point Piper, Darling Point, The Rocks, Millers Point and Huntleys Cove and Milsons Point. Brisbane riverside suburb Tennyson was the only other suburb outside of Sydney to make the top.
Just 12.4% of all capital city houses and 1.7% of regional houses sold in 2013, transacted for more than $1 million. For units it was 4.6% of capital city sales and 2.3% of regional unit sales which had a $1 million price tag.
Despite such significant media reporting about homes over $1 million, these actually account a very small portion of the overall sales within the market.
At a national level, 275 suburbs (or 6.1% of suburbs with a reported median value), have a median house value which is greater than or equal to $1 million. Nationally, only eight suburbs have a median unit value which is greater than $1 million, representing 0.4% of all suburbs.
In 2005, just 78 suburbs across the country had a price tag of $1 million or more.  In just five years, the number of $1 million plus suburbs has increased by 172%.  Victoria has recorded the greatest increase in suburbs with a $1 million price tag over the five years, increasing by 950% during the period.
<img src="/images/stories/2014/02/21/kusher-feb-21-three.gif" width="470" height="433" alt="kusher-feb-21-three">
The figures vary somewhat when looking exclusively at the capital city markets. It’s important to remember that home values tend to be much higher in the capital cities and this is where the bulk of the national population resides.
For houses, there are 271 capital city suburbs or 12.0% of all suburbs that have a median value of more than $1 million. For units, 0.6% or 8 capital city suburbs have a median value of more than $1 million. Across individual cities the current results are also quite different.
For houses, almost one in every four Sydney suburbs has a median house value of more than $1 million, in Perth the figure is 12% of suburbs and in Melbourne around one in 10 suburbs has a median value of more than $1 million. Very few suburbs have a median unit value of more than $1 million, only eight suburbs nationally. Seven of these eight suburbs are in Sydney with the remaining one in Brisbane.
Five years ago, around 5% of all suburbs nationally had a median house value which was more than $1 million and for units, 0.4% of all suburbs held a median value which was more than $1 million. By way or proportion, the five year change has been minimal with a median unit value of more than $1 million but a full one percentage point increase in the proportion of suburbs where houses have a median value of more than $1 million.
Suburbs where the median value is in excess of $1 million are quite small. However, as home values increased over the past five years so too has the number of suburbs.
With low mortgage rates and relatively high levels of buyer demand we would expect the proportion of suburbs with a median value of more than $1 million to trend higher throughout 2014. It is important to note that outside of Sydney, Melbourne and Perth suburbs with a median value of more than $1 million are a rarity.
Cameron Kusher is senior research analyst at <a href="https://www.myrp.com.au/" rel="nofollow" target="_blank">RP Data</a>.
 
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ckusher-ujnxiKuFQs

Where are Australia's million dollar suburbs?

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Hello Margaret,
My husband and I, both 50, are considering purchasing an investment property to potentially provide us with an income for our retirement. We have two dependent children, aged 19 and 16, a combined annual income of around $200,000, a mortgage of $320,000 and our home, recently appraised, is worth about $1 million. We are paying off our mortgage at $2,200 per fortnight at 5.1%. We always clear credit card debts before interest is incurred. We have no other loans.
We both have frozen pension overseas, seven and 12 years, and both have had workplace super since returning to Australia in 2006, contributing an extra $100 per fortnight each. We have savings and shares to totaling about $10,000.
I am concerned we will need to sell the family home and downsize, in order to adequately fund our retirement. We would prefer to leave an inheritance for our two children, to enable them to each get on the property ladder before real estate eventually becomes too pricey.
I have been reading your articles over the past year and I'm not sure if we are in a position to purchase a second home, or if this is the way forward for us?
We used 10 years of (cashed in) super, to purchase and develop our first property, at the ripe age of 38 and 35, overseas, giving us a significant profit over the seven years we lived there. Ultimately, this enabled us to return to Australia and purchase our first home here in a good suburb.
Hope you can help us with some independent advice.
Kind regards,
Maria
Margaret's answer on the next page. Please click below.
 
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Hi Maria,
I'm glad you wrote to me before rushing ahead and making any major mistakes.
Firstly, I think it is imperative that you think about planning for your own retirement before you think about planning for your children's inheritance!  You are a lot older and closer to retirement than they are, and the best inheritance you can give them is parents who are financially independent and who lead by example.  Teach them how to be good investors by becoming one yourself and they won't need to inherit.
You are in an excellent position to begin investing, in fact you have been for some time so there's no time to waste.  I've done some quick calculations based upon your equity of around $700,000 and your incomes of $200,000 and, along with projected rental incomes which buying property would bring, there is no reason why you could not in fact borrow enough to buy total property to the value of around $2 million.
Now, don't rush out and do that  - just because you qualify doesn't mean you should do it! 
You must start with a strategy, an assessment of your risk profile, a plan which matches your personal circumstances, then some good quality education to enable you to become a skilled investor before you start.  If you do not follow this sequence you will be setting  yourself up as fodder for every dodgy property spruiker that you are bound to find lurking in every corner - waiting to part you with your money on property which might be right for them (due to their large commissions) but possibly wrong for you. 
Here are some things to be wary of:
<img src="/images/stories/2014/02/21/number-1.jpg" width="20" height="30" alt="number-1" style="float: left;"> Mortgage brokers giving you 'property advice' - they are licenced to give you loan advice only and largely have no qualifications or skills to assist you to invest well.  Their property recommendations are most likely being made because they will be receiving commissions from developers for anything you buy.
<img src="/images/stories/2014/02/21/number-2.jpg" width="26" height="30" alt="number-2" style="float: left;">Financial advisers giving property advice - recent changes to the law means financial advisers no longer make money from commissions, instead they must charge the client.  Some are turning to developer stock to sell to their clients, for which they receive large commissions, with no requirement in the legislation to tell you about them.
<img src="/images/stories/2014/02/21/number-3.jpg" width="22" height="30" alt="number-3" style="float: left;">Glossy brochures advertising fabulous property in areas that you cannot confirm is really a hotspot.
<img src="/images/stories/2014/02/21/number-4.jpg" width="22" height="30" alt="number-4" style="float: left;">Anyone giving you 'property advice' and selling you a property as well - it's impossible to be independent if there are commissions to be made, and these people cannot possibly have properties to sell you in a hotspot which also just happens to be perfectly matched to your own financial circumstances.
Now that I've provided all the warnings, get going!  Read some good property books and look for an adviser who offers a pure advice model.  Get educated too, but beware the spruiker seminar with the high price tag!
Regards,
Margaret
Margaret Lomas is a best-selling author and writes and hosts the popular 'Property Success With Margaret Lomas' and heads up the panel on 'Your Money, Your Call', both on Sky News.
She is the founder of <a rel="nofollow" target="_blank" href="https://destiny.com.au/dotnetnuke/en-au/home.aspx">Destiny</a>.
Have a property question? <a target="_blank" href="mailto:askmargaret@propertyobserver.com.au">Ask Margaret!</a>
 
      
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mlomas-KC9MUPZ6Ca

Am I in a good position to become a property investor? Ask Margaret

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In November 2013 Australian adults working full-time were on average making $1,437.00 per week in ordinary time earnings, a jump of 2.9% in the previous 12 months.
According to Australian Bureau of Statistics figures, in ordinary terms males working full-time were earning on average $261.60 more than females.
While employees of the mining sector earned significantly more than any other sector, bringing in $2,469.60 per week.
The lowest paid industries were the retail, accommodation and food services industry, where full-time employees made on average less than $1,100 a week.
This article first appeared on <a target="_blank" href="https://www.SmartCompany.com.au">SmartCompany.</a>
 
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yredrup-o4Anfe78KF

Adult average weekly earnings on the rise

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As anyone who lives in a bushfire prone area knows, fire doesn’t discriminate. Earlier this month, Barefoot Investor Scott Pape and his family sadly lost their home as fires engulfed Romsey, Wallan and Kilmore in Victoria, showing that even the savviest homeowners can find their property in peril.
A CFA member, Pape wrote that after his wife and son left the area, as they always do on potentially bad bushfire days. He remained, and with others fought to protect his property, before rounding up his livestock and evacuating his dogs.
Thankfully, the Pape family is safe. But they and many others are now faced with the reality of restarting their lives after losing their homes in tragic circumstances. While the emotional and physical effects of the bushfires will be long felt, those losing their properties must also bear the financial cost of the fires.
For those in areas prone to bushfires, insurance is one of the key ways to protect yourself in the event that your property is lost. Home building and contents insurance, offered by most major insurance providers, can offset a good proportion of the financial costs of losing your home.
Make sure you understand exactly what level of coverage you have under your insurance plan when you purchase it. And before bushfire season begins each year, take the time to go over your insurance policy again to make sure it covers all of your major assets.
When it’s time to renew your policy, or when purchasing it, it’s worth making an inventory of all the assets you want to insure in your home. As for the home rebuild itself, get a builder in to get a quote for the cost of rebuilding your property should it be destroyed. These can be time consuming tasks, but ones that will ultimately help you make the best decision about the appropriate level of coverage and hopefully reduce any hidden costs further down the line.
If your home is damaged or destroyed by a bushfire, make sure you photograph any damaged goods as evidence for your claim before you discard them. As always with insurance claims, the more evidence, the better – this is where your inventory of goods will come in handy again, so you can keep track of exactly what has been damaged for your claim.
It’s also a good idea to contact your insurer as soon as possible to begin processing your claim and so that you can get started on any major repairs quickly.
If your vehicle is damaged, your insurer may also be able to provide you with an interim vehicle while your claim is being processed. And remember, the insurance market in Australia is highly competitive – shop around before picking your insurance policy.
For many rural residents, the loss of their property also means the loss of their income generating asset, whether that’s a farm or a bed and breakfast. While most insurers only offer income protection for individuals who cannot work due to injury or illness, your state government may offer support following a natural disaster, as the <a href="https://www.humanservices.gov.au/customer/services/centrelink/dra-nsw-bushfires-october-2013" target="_blank">NSW government did</a> after the bushfires of October last year. However, there’s no guarantee that this will be provided, and it isn’t available for those who lose their homes in circumstances that don’t have a wide impact, like a house fire. As always, it helps to have some savings on hand to make up for any loss of income.
The loss of one’s home is always an incredibly difficult experience. There will always be an emotional cost, no matter what you do. But at the very least, a good insurance policy or sound forward planning may protect you from some of the financial burden, and free up your attention to focus on the bigger things.
Our thoughts are with all affected.
<a href="mailto:jrichardson@propertyobserver.com.au" target="_blank">jrichardson@propertyobserver.com.au</a>
 
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Losing your home to bushfire: How to protect yourself financially

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Recently there has been some national media commentary about an apparent slump in the number of first home buyers, with commentators saying this is due to unaffordable prices and competition from investors.
It’s important to note that this speculation is very east coast based and bears little resemblance to what’s happening here in Western Australia. Let’s look at the facts.
When the First Home Owners Grant (FHOG) was introduced in July 2000, this mechanism became a good way to record this demographic in the market. There were 1,430 FHOG applications across WA in July 2000 and the median purchase price for established homes among entry level buyers back then was $122,000.
Thirteen years later in June 2013, there were 1,840 first home buyers paying a median price of $430,000 on established property.
After more than a decade the numbers are steadily growing despite the accompanying price growth for dwellings.
For the last couple of years first home buyers have benefited from historically low interest rates, a stable and recovering housing market and the ongoing exemption from stamp duty for homes under $500,000. They are also eligible for a $3,000 grant when buying an existing property or $10,000 if building a new one.
This combination of factors has prompted very strong first home activity, particularly through 2013.
In recent years the number of first home buyers each month has been fairly steady at around 1,500 each month. For the past year however, it was trending up with monthly figures closer to 1,600 and 1,700 applicants. In October last year there were 1,969 applicants seeking to enter the first home buyer market and in December there were 1,573.
Around 20,000 first home buyers made their move last year. The Office of State Revenue reports that the median purchase price on established dwellings for first home buyers across the state is currently $438,000. That’s up by $28,000 on the same time last year and by $43,000 on 2012.   Of course the median is only the middle price which means that half of all first home buyers are purchasing under $438,000 and there is plenty of stock under $400,000, including house and land packages.
The percentage of first home buyers as a proportion of the overall housing market has been above average for some time and last year was at times almost 30% of the whole market.
There is little evidence that first home buyers in WA are being frustrated by competition from investors, as they are weak in the current market due to soft rents. While home affordability itself has rarely been better and this is reflected in the significant numbers of FHOG applicants and swift turnover with homes under $450,000.
David Airey is president of the <a rel="nofollow" target="_blank" href="https://reiwa.com.au/home/default.aspx">Real Estate Institute of Western Australia.</a>
<a rel="nofollow" target="_blank" href="https://reiwa.com.au/home/default.aspx"></a>This article was originally published on <a target="_blank" rel="nofollow" href="https://reiwa.com.au/Faq/Pages/Feature.aspx">reiwa.com</a>.
     
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WA is booming for first home buyers, unlike the east coast

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1) Get savvy with the latest online tools.
Identify the online tools that will add value to either your property investing skill sets, to your portfolio, or both. There are so many little online ‘life hacks’ available to investors. For example, and this is only the tip of the iceberg, but consider tools like DSR walk score calculators, Zillow.com, Real Estate View, RP Data, loan repayment and stamp duty calculators, and so on.
2) Network digitally with your comrades.
Don’t treat them as competitors, but rather allies. In this social media age there is no excuse not to be able to find like-minded people you can learn from. That’s how I started out years ago, by connecting with people on the Somersoft forums (which I still maintain is one of the best online property investment communities in Australia).
You may be able to engage with experienced investors who may have a better understanding of a particular concept or a more specific property investing topic. LinkedIn offers excellent community groups with real-time conversations happening on the daily. Twitter is intelligent too; once you establish a group of investors and influential property people you follow (and a few follow back), Twitter’s engine will go out and find more of those types of people for you.
3) Attend events and talks.
Don’t just rely on online communities, look at attending events such as the Home Buyer and Investor Show, and also local property investment shows and seminars. Just be able to discern between an unbiased third party seminar on a topic and a property development spruiker trying to sell their wares.
There is actually a great online site called Meetup.com, where you can meet like-minded people in life – related to any interest. The idea is you join a group but they regularly meet up in person to share their passion. I’ve done this for things like tennis and surfing, but there are groups that meet up in pubs and cafes – who are also investors like yourself! You can learn so much from each other in this way.
4) Read. A lot.
I know I have previously written about the challenges of ‘analysis paralysis’, however I still think it is so important to read a lot.
Approach every article, book, magazine, or online blog post – no matter the property-related subject of it – with a view of ‘how will this trend/tactic/design style etc. pay off in terms of my overall return? If you don’t think it will – stop reading that content and move on to something else!
Investors, like so many people in life, form bad habits. Read content from more sources – books, magazines, websites, forums – to better inform yourself. Over time you will also find better quality content specific to what you are looking for.
 
5) Have an open mind and flexible approach
Unlike most things in life where the mantra is ‘it’s not about the destination, but rather the journey’, property investment is the complete opposite.
It’s the other way around. It is entirely about the destination, that being your financial future and security.
Where am I going with this? Have an open mind to property types and locations that, despite your initial distaste when considering them, actually stack well from an ‘end game’ numbers perspective.
Cameron McEvoy is a NSW-based property investor and maintains a blog, <a target="_blank" rel="nofollow" href="https://www.propertycorrespondent.com.au/">Property Correspondent.</a>
 
 
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cmcevoy-Go82SmsJA9

Five tips to become a better property investor

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In footy parlance, this past weekend was a bit like the pre-season competition.
But things are charging back into the big time this week, with February 22 and the following week March 1 both looking like being Super Saturdays and there are some really interesting homes on offer across Melbourne in that $1.5 million to $3 million plus price range.
On a personal note it was certainly good to be back and out there bidding this weekend. I love being back full-time on the tools, knee deep in the puddles of emotion dotted across Melbourne on a Saturday -  the smell of fear, the looks of anticipation, the cringes of excitement and the hush of <a style="border: 0px; margin: 0px; padding: 0px; text-decoration: none; color: #000000;" title="Posts tagged with uncertainty" rel="tag" class="st_tag internal_tag" href="https://marketnews.com.au/tag/uncertainty/">uncertainty</a> all rolled into an incredible 15 minute sensory overload. 
If you’ve had your ear to the ground you might have noticed that there is a lot more happening in Melbourne $1 million property than auctions right now.
Expressions of interest
This is a form of buying/selling that is increasingly taking place in the inner Melbourne market.
Expressions of interest might seem straightforward. You put in your price and a deal is done. But you need to understand the unwritten rules – because in a way what they are a game of poker: of bluff and counter bluff, of maneuvering, of patience and of risk – with high stakes, indeed very high stakes for all involved, and few or no rules.
High stakes poker in Kew
Have you seen the home at <a target="_blank" href="https://www.realestate.com.au/property-house-vic-kew-116005755">22 Rowland St, Kew</a> (pictured below), markerted through Scott Patterson and Ross Savas of Kay and Burton?
{yoogallery src=[images/stories/2014/02/20/kew]}
I’m calling it The Biosphere and I mean that as the highest of compliments – go inside and you are totally immersed into the space, light and moods created by the owner and the architect Nick Boschler. 
But this article is not all about the home at 22 Rowland, it is also about the high stakes poker game you will need to play to be the buyer. This is a genuine expression of interest – there is no bulltish quote and no bulltish rules from <a style="border: 0px; margin: 0px; padding: 0px; text-decoration: none; color: #000000;" title="Posts tagged with kay and burton" rel="tag" class="st_tag internal_tag" href="https://marketnews.com.au/tag/kay-and-burton/">Kay and Burton</a> – it’s put in what you think and then they will talk.
So, what price in the first instance do you offer, what terms and through which agent at Kay and Burton? There were four agents on the job when I visited and it was mid-week.
How do you make that offer – verbal, in writing or on a contract? Do you have a deadline, is it conditional and is your offer negotiable or firm? Pretty straightforward so far, with only about 20 different combinations.
But wait there is more – what happens when they say no, or more to the point what if they don’t say no but they don’t say yes either? What is your next move and the one after that? And what about the questions – the 10 or 20 any good selling agent will ask you under these circumstances? How do you answer them – openly or guardedly or should you just not answer them at all?
Once you put in your actual expression of interest, that is when things will get interesting. Even if you put in your best price, the agent will probably think it wasn’t and even if he or she does believe you, his or her vendor probably won’t. And so the dance starts – backwards and forwards, upwards and downwards – though probably more upwards or sideways than otherwise.
The thing to remember is that expressions of interest are long distance runs not sprints.  So after a week or so – unless you are 'High and Mighty Charlie' with a limitless chequebook – the agent is likely to tell you that you have a new friend, no not him, it's another buyer. And so a new dance begins, only this time it’s more of a group conga than the previous intimate waltz. Well, that’s what you are made or may think.
So back to 22 Rowland – this really is the right type of campaign for the seller, as the buyer is going to be a special one. Of course the seller also knows he or she is involved in the same game and there are some risks for a seller in an EOI process – where the rules can be vague and the way forward a little unclear. Sometimes buyers drop out or just don’t start the engagement process as their fear of uncertainty is greater than their love of the home.
How much is this ethereal creation at 22 Rowland worth? Is it $3 million or is it $9 million?
That is the question. So what is the answer?
We can’t tell you specifically at this stage, but the way we would go about finding that out involves relationships and truths, as well as a number of judgments and non judgements.
We’re not trying to be a smart alecs here. What we are trying to say is the answer to securing 22 Rowland lies in the process more than a specific number.
Off-markets
Another trend taking place is the “off-market”. Off-markets, are where properties are bought and sold without any 'for sale' board, advertising or internet marketing. This week the mysterious off-market widened and continued – especially at the very high end. As a group we have been looking and dealing in homes in Bayside, Port Phillip, <a style="border: 0px; margin: 0px; padding: 0px; text-decoration: none; color: #000000;" title="Posts tagged with Stonnington" rel="tag" class="st_tag internal_tag" href="https://marketnews.com.au/tag/stonnington/">Stonnington</a> and Booroondara that to the casual passerby show nothing to indicate a transaction may be happening.
Note to Sellers: If you have a family home for sale, you know your price and will allow access to our buyers and can get <a style="border: 0px; margin: 0px; padding: 0px; text-decoration: none; color: #000000;" title="Posts tagged with contracts" rel="tag" class="st_tag internal_tag" href="https://marketnews.com.au/tag/contracts/">contracts</a> if requested, then we can in many cases bring a very real, but private buyer to your door.
We recommend you get a selling agent to represent you, but that is your call whether you do or you don’t.
Mal James is principal of<a title="James Buyer Advocates" href="https://www.jamesbuyeradvocates.com.au/" target="_blank" rel="nofollow"> James Buyer Advocates</a>, which advocates on behalf of buyers of property over $1 million. Mal writes weekly auction reports, advice and in-depth market analysis on James' website.
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