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“Minister Chanthivong and his team have shown real leadership in replacing an outdated two-year bond with cover that matches the lifespan of the buildings people are buying into.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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You can argue about housing affordability until the cows come home, however being right is an entirely different matter. Let’s face it, Sydney today is a basket case given the gridlocked traffic congestion which simply identifies that it can’t cope as our population surges. This was recently reinforced with the state government forced to declare that some major roads will now be 24 hour, seven days a week clearways.
With great interest I read this week a report that was released <a target="_blank" href="/news" title="Sydney’s ‘global’ vision bad news for local housing affordability ">Sydney’s ‘global’ vision is bad news for local housing affordability, </a>which identified in a recent government briefing paper that in the last decade medium rent for all properties in the inner ring of Sydney more than doubled from A$195 to A$560. Now that’s scary although realistic given the strategy, part of the “Global Sydney” vision from the NSW state government, is almost 10 years old. Updated government forecasts suggest Sydney’s population will grow to 5.8 million by 2031 – approximately 200,000 more people than predicted in 2010.
The report reveals that we can expect little policy movement on private housing subsidies by federal or state governments. Negative gearing has increased the wealth of middle and high income Australians. Developers endlessly lobby governments for taxation concessions. No major political party would dare propose reform.
With the Reserve Bank of Australia (RBA) deciding to leave the cash rate at 2.50% many were quick to declare that the <a target="_blank" href="https://www.afr.com/f/free/blogs/christopher_joye/rba_turns_blind_eye_to_housing_boom_JkFWke1jyGA4yV7vDY4HeJ" title="RBA turns blind eye to housing boom">RBA turns blind eye to housing boom</a>, although I must admit, the current state of the property market has everyone baffled and requiring deeper investigation.
The question that dominates the market is why are there so few listings if the market is this strong? Well that is now easier to address given<a target="_blank" href="https://www.whocrashedtheeconomy.com.au/blog/2014/02/roy-morgan-unemployment-hits-11-3-highest-in-19-years/" title=" Roy Morgan unemployment hits 11.3% - highest in 19 years."> Roy Morgan unemployment hits 11.3% – highest in 19 years.</a> I (like many others) use the Roy Morgan methodology over the Australian Bureau of Statistics (ABS) given it’s absurd and totally unreasonable to consider somebody who works just one hour a week as being in full employment. It is also widely acknowledged that politicians much prefer the ABS figures given it makes them look better. Historically, property markets always contract when unemployment is rising as the two go hand in hand, although at the moment we are witnessing the complete opposite.
<a style="margin: 0px; padding: 0px; border: 0px; outline-width: 0px; font-weight: inherit; font-style: inherit; font-family: inherit; vertical-align: baseline; color: #be002d; text-decoration: none;" href="https://www.rwm.com.au/files/2014/02/10-02-2014-9-16-57-AM.jpg"><img style="margin: 0px auto; padding: 0px; outline-width: 0px; font-weight: inherit; font-style: inherit; font-family: inherit; display: block; max-width: 100%;" height="288" width="470" src="https://www.rwm.com.au/files/2014/02/10-02-2014-9-16-57-AM.jpg" alt="10-02-2014 9-16-57 AM" class="aligncenter size-full wp-image-8418"></a>
So we were told this week that Australia’s 9.3 million homes have reached a new high<a target="_blank" href="https://www.smh.com.au/business/property/australian-homes-worth-5tn-20140211-32eyq" title=" Australian homes worth $5tn "> Australian homes worth $5 trillon </a>with the nation’s residences jumping a huge $184 billion in the last three months of 2013. What many find startling is that previously when unemployment is escalating property prices start dropping however this time around home values are rising and so is the unemployment rate.
<a style="margin: 0px; padding: 0px; border: 0px; outline-width: 0px; font-weight: inherit; font-style: inherit; font-family: inherit; vertical-align: baseline; color: #be002d; text-decoration: none;" href="https://www.rwm.com.au/files/2014/02/11-02-2014-11-12-24-AM.jpg"><img style="margin: 0px auto; padding: 0px; outline-width: 0px; font-weight: inherit; font-style: inherit; font-family: inherit; display: block; max-width: 100%;" height="286" width="470" src="https://www.rwm.com.au/files/2014/02/11-02-2014-11-12-24-AM.jpg" alt="11-02-2014 11-12-24 AM" class="aligncenter size-full wp-image-8419"></a>
<a style="margin: 0px; padding: 0px; border: 0px; outline-width: 0px; font-weight: inherit; font-style: inherit; font-family: inherit; vertical-align: baseline; color: #be002d; text-decoration: none;" href="https://www.rwm.com.au/files/2014/02/11-02-2014-11-14-42-AM.jpg"><img style="margin: 0px auto; padding: 0px; outline-width: 0px; font-weight: inherit; font-style: inherit; font-family: inherit; display: block; max-width: 100%;" height="246" width="470" src="https://www.rwm.com.au/files/2014/02/11-02-2014-11-14-42-AM.jpg" alt="11-02-2014 11-14-42 AM" class="aligncenter size-full wp-image-8421"></a>
The number of houses on the market changed little with just 81 houses on the market. The most startling statistic being there are just two houses for sale in Neutral Bay – previously the record low was four houses with an all-time high of 22.
<a target="_blank" href="https://www.businessspectator.com.au/article/2014/2/12/economy/cold-truth-about-hot-property-prices" title="The cold truth about hot property prices">The cold truth about hot property prices</a> answers many questions given the Australian labour market hasn’t been this weak in over a decade. Investors are driving the values up as they have identified weak infrastructure and escalating rents given our population explosion.
Governments won’t address any of the issues as they are worried about losing voters so to coin an old Australian euphemism – “Bugger you Jack – I’m all right!”
Robert Simeon is a director of <a rel="nofollow" target="_blank" href="https://www.rwm.com.au/" title="RWM" style="font-size: 14px;">Richardson  Wrench Mosman and Neutral Bay </a>and has been selling residential real estate in Sydney since 1985. 
He has also been writing real estate blog <a rel="nofollow" target="_blank" href="https://www.rwm.com.au/news/" title="Virtual Realty News">Virtual Realty News</a> since 2000. 
The RWM real estate model has sold in excess of $1 billion in database sales globally.
 
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robertsimeon-hRNTwJyXkQ

Home prices are rising and so is unemployment - that's a first

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It's not a fashionable thing to point out, but as RP Data's Cameron Kusher notes, Sydney property prices have comfortably underperformed the growth in household incomes for over a decade now.
Of course, this doesn't fit with the "it's never been tougher than today" rhetoric that seems to be popular right now.
Ask anyone who actually bought property in 2003 or early 2004 in Sydney and they'll tell you a rather different story, though.
Similarly, those of us who own property bought back in the 1990s will tell you it wasn't much fun grappling with cripplingly high interest rates and significantly higher unemployment levels then either.
Of course, dwelling prices will forge on to "all-time highs" in Sydney, Perth and Melbourne in 2014... just as median wages, household incomes, GDP, the Australian population, the total number of employed Australians, the volume of Australian bulk commodity exports and so on will as well.
<img width="400" height="161" style="padding: 5px; border: 1px solid #ebebeb; box-shadow: rgba(0, 0, 0, 0.0980392) 1px 1px 5px; font-family: Arial, Tahoma, Helvetica, FreeSans, sans-serif; line-height: 18.479999542236328px;" src="https://pbs.twimg.com/media/BflsOC2CQAAQDGG.jpg" alt="Embedded image permalink">
Source: RP Data
Bubble?
Typically a market bubble would see prices roaring upwards (such as in parts of Ireland where prices nigh on tripled in a very short period of time) before collapsing again.
Conversely, Sydney prices have steadily underperformed income growth for more than a decade.
That's not to say that there won't be some kind of cyclical correction in 2015 or 2016 - in all likelihood, there probably will be. But will it be an inevitable bust? Big call that.
It's also drawing a fairly long bow to describe the past six decades as a cyclical boom/bust market.
In some areas, the property markets had some moderate corrections (even recently, in 2008 and 2011/12) or periods of stagnation, such as in the 1970s and early 1990s. But not so much in the way of busts. Not in the capital cities.
Repayments low
Meanwhile, mortgage affordability has improved beyond owners' wildest dreams with standard variable rates falling to around just 5%.
I look back at a number of properties I bought in the inner suburbs of Sydney years ago and can scarcely believe how cheap the repayments are today.
This was also highlighted by Shannon Molloy in API Magazine in November in this earth-scorching article <a target="_blank" href="https://www.apimagazine.com.au/blog/2013/11/on-house-prices-lets-get-real/">here</a>.
First home buyers to return
Expect to see the recorded numbers of first homebuyers steadily recovering in Victoria, Western Australia and South Australia over the next year.
Not so much in states like New South Wales where the equivalent figures simply aren't being recorded, and a fair percentage of first-timers choose to buy a rental property rather than a place of residence.
RP Data's Kusher notes that 28.4% of capital city homes have a value of under $400,000 (Sydney is the most expensive capital city property market, and the figure here is 17.5%), suggesting that the saving of a deposit, while undoubtedly tough for some people, is scarcely an impossible goal.
Waiting for a correction
Of course, you could try to outsmart the market and wait for the so-called inevitable property price correction before making the move in to the housing ladder, as has been strongly recommended by quite a number of commentators over the years.
With cities such as Sydney set to pump up its population by a quite <a target="_blank" href="https://www.smh.com.au/federal-politics/political-news/squeeze-is-on-as-australias-populations-boom-20131126-2y83k">breathtaking figure</a> in the coming years and decades fuelling ever-greater demand, personally I'm not so sure that's a smart choice.
Will median prices really be cheaper in 2030 when there are more than six million people crammed in to the same amount of space? Seriously doubtful.
Therefore, if you a are buying with a long-term horizon in mind, there is little to fear. Sure, if you are looking to buy and sell quickly, then that's a different story. But then, that's always the case in any property market - always has been, in fact.
As RP Data's figures in the chart show, continuing to sit it out has been a comparatively poor option over the past decade, a period through which diligent owners and savers have made significant inroads into their mortgage debt.
And so it will be again in 2014.
I suppose if you honestly believe that there will be a housing bust, then the answer is simple; continue to rent and await your time to make a move.
Most likely though, home owners will continue to do better than renters over the long haul, since rents continue to increase over time with inflation, while homeowners own an unencumbered asset at the end of the mortgage period.
Pete Wargent is the co-founder of <a rel="nofollow" target="_blank" href="https://allenwargent.com/">AllenWargent</a> property buyers (London, Sydney) and a best-selling author and <a rel="nofollow" target="_blank" href="https://petewargent.blogspot.com/">blogger</a>.
His new book '<a rel="nofollow" target="_blank" href="https://www.bigskypublishing.com.au/Books/General-Interest/Four-Green-Houses--and-a-Red-Hotel/1015/productview.aspx">Four Green Houses and a Red Hotel</a>' is out now.
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pwargent-M4siyDbqQY

If you are buying with a long-term horizon in mind, there is little to fear

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Malz Motoring &amp; Leisure Zone is up for sale after the car parts retailer <a target="_blank" href="https://www.smartcompany.com.au/growth/economy/34976-the-20-most-notable-collapses-of-2013">collapsed</a> earlier this month.
Malz’s directors appointed Kim Strickland from WA Insolvency Solutions as administrators and then KPMG partners, Hayden White and Damian Templeton, were appointed receivers and managers of Malz on February 3, 2014.
The West Australian retailer sells automotive aftermarket parts, accessories, tools, equipment and leisure items.
Malz operates from four custom-fitted stores across metropolitan Perth and has a standalone head office and warehouse facility.
The retailer has lease arrangements in place for a further two stores.
Malz opened its first store in December 2004 and since then has grown to generate an unaudited turnover for this financial year of $11.3 million.
A spokesperson for KPMG said White and Templeton have assumed control of the assets and operations of Malz and started evaluating the financial position of the business with a view to selling it.
Notices advertising the sale of the business ran in newspapers last week.
“KPMG is already in discussions with a number of parties interested in purchasing part of, or all of, the existing business,” the spokesperson says.
In the interim, Malz is continuing to trade.
Australia’s retail sector has been weathering tough conditions with the collapse already this year of retailers <a target="_blank" href="https://www.smartcompany.com.au/finance/cashflow/35295-creditors-line-up-after-fashion-retailers-collapse-dion-lee-ellery-and-mercedes-benz-fashion-week-all-owed-cash">Jasu</a> and <a target="_blank" href="https://www.smartcompany.com.au/marketing/sales/35064-peeptoe-shoes-collapses-as-retailers-continue-to-face-financial-pressures">Peeptoe Shoes</a>.
This article first appeared on <a target="_blank" href="https://www.SmartCompany.com.au">SmartCompany.</a>
 
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cwaters-YrtBR88nBe

Car parts retailer with $11 million turnover collapses

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When it comes to figuring out just how much rent you can achieve for a property, it’s as complicated or as simple as you make it. In a fast moving market, it’s important to analyse just how much demand and how much tenants are willing to pay.

Here are the most common ways of figuring out what your prospective tenants should be paying.

1) Quick rules of thumb

While it’s not a good idea to rely on blanket rules when working with finances, when working out your expectations for rent it’s good to get a ballpark indication.

Usually, investors will cite an average achievable rent of around $100 for every $100,000 of worth on a property.

For instance, on a $500,000 property, you’d be right to expect $500 per week in rent as a starting point for further analysis. 

However, the graph is not consistent. Properties on the lower end of the price spectrum will see investors expecting to receive rent above this rate, while premium-priced properties will see weekly rent fall below this.

[smartcode_project:default project_id=709]

2) Head to the statistics

The next easy step is to jump online and find out what the averages and medians are for the area and asset type where you’re considering buying, or where you already own property. While this assumes your property is at the direct centre of the market, you can quickly get an idea as to whether rents are generally charged around expectation.

You can <a href="https://www.propertyobserver.com.au/finding/location/suburb-data" target="_blank">see your suburb’s free data here</a>, including population statistics and trends, median prices, median asking rents and more.

You will also want to check the vacancy rates, and where they’re trending, to see if there’s likely to be an upcoming pressure on rents that may push it higher than at present.

Don’t get too tied up in statistics that are not local enough. While it is important to be aware of the larger market forces that may later impact you, such as lowered confidence in the area, it is absolutely critical to be aware of what is happening in your LGA or suburb that might impact on your rent.

[smartcode_project:default project_id=27783]

 

<hr>
YOU MIGHT ALSO BE INTERESTED IN:

 

How to <a href="/expert-insights/your-weekly-how-to-calculating-rental-yield">calculate rental yield</a>

 

<hr>
 

3) Get input from local experts 

Great, knowledgeable property managers are worth their weight in gold and are handy sources of free information about the market. Speak to some good local property managers (remember they’re not all made equal – here’s <a href="/news/how-to-choose-the-best-property-manager">a guide on how to find a great one</a>) and ask for a rental appraisal of the home.

Don’t forget to get it in writing, as well as to ask for the reasoning behind it and the current state of the rental market. You can also ask them about changes and additions you can make to the property that may make it more desirable for a tenant and may, in turn, allow you to charge more.

These experts leverage off of their experience in the market and their current rent roles to provide you up to date information that may not yet be reflected in the statistics.

If you know any other local investors, ask them for their experiences in getting tenants and some of the successes and difficulties. Leverage off of your network's knowledge.

[smartcode_project:default project_id=2060]

4) Have a look at some comparisons

Head online to listings websites and also go to some open inspections and see what is being tenanted quickly and for how much. Focus on properties that are comparable and nearby to your own as this will quickly let you see how your home will perform in a similar situation.

Create yourself a list of features to take around the properties with you that you can mark as being ‘more’ or ‘less’ desirable than your own. This will enable you to do a final analysis as to whether your property is superior or not, and it will ensure you aren’t assuming it’s superior based on your own bias.

Use your experience of what the property managers and other investors have been saying about what is desirable to create this list. A second bathroom, or a pool, in some suburbs may command huge amounts of extra attention, however in others they may not be as desirable.

Use these to either confirm or disprove the information you have already collected. Remember that some statistics may be driven up by share-house appropriate rentals, or properties that include granny flats wrapped into one price.

[smartcode_project:default project_id=90553]

5) Test the market

Finally, putting your property on the market at the amount you have found is likely to be the best bet. If it doesn’t rent, you may need to adjust your expectations accordingly. You may even be keen to keep your rent slightly lower than your competition to ensure it gets rented quickly – and stays that way!

Some landlords will be happy to charge slightly less to obtain a better quality tenant. If you want to keep your tenant then you want to ensure that you’re charging an amount your tenant can afford – particularly if you are looking at this analysis to justify a rental increase.

Remember, though, that regardless of how much rent you would like to charge, it’s <a href="/expert-insights/investing/market-value-not-landlords-hopes-should-determine-rent-mcgrath">the market and the tenants that dictate how much you will be able to achieve</a>.

If you are hoping to keep good tenants, then you’ll <a href="/expert-insights/investing/how-to-find-and-hold-good-tenants">want to read this guide</a>.

<a href="mailto:jduke@propertyobserver.com.au">jduke@propertyobserver.com.au</a>

 

 
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How to: Estimate the amount of rent to charge

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I know most investors baulk when they see the body corporate levies, but I think that there are many that just don't understand what a body corporate levy is, what it pays for and why they are actually a great thing for investors that don't live where their investment is.  The key to a good body corporate is to have a great chairperson who makes sure all the jobs are done.
For an investor, it is difficult to understand what the body corporate is responsible for and what they aren't.  As a general rule, the body corporate is responsible for all the common area, the building and the insuring of the actual structure.  The internals of the unit are the responsibility of the owner but even so this is a bit blurry.  If you have a leaking tap, then the owner is responsible to get the washer changed.  If there is a burst pipe and that pipe is in the slab then it is the body corporate.  If the kitchen needs replacing due to age, then it is the owner’s responsibility.  If the kitchen is damaged due to an insurable event, then it is covered under the body corporate insurance cover.
Let's say the hot water system is located in the kitchen cupboard and it bursts flooding the unit.  The damage to the kitchen is covered by body corporate insurance.  The owner will have to pay to get a new hot water system installed.  If the carpets are damaged, these are classed as contents and the owner needs to claim this through their Landlords Insurance.  If the walls are damaged, this is a body corporate claim and their policy will fix this - yes I know very confusing.
I will use Palm Tree Apartments for the example.  This is a complex of 44 units, with 24 of them being bedsit units and 20 being two bedroom units.  The complex was built in 1995 and is a besser block, three storey, bomb proof place.  It isn't the prettiest but it is perfect as an investment.  The units themselves are basic internally but very functional.  The beauty of these is they are big internally - much bigger than a two bedroom in a newer property.  When you have a big complex, you really need to be proactive - if something is wrong it needs to be fixed.  If you leave something broken or dumped next to the bin area it sends out a message that this is acceptable.  This is a learning curve that I had to have - just because we pick up that piece of rubbish near the letter box and put it in the bins, doesn't mean everyone else will!
There are two parts to a levy - you have the administration fund, which budgets for the things that will happen each and every year, and then you have the sinking fund. This is for future works to be completed such as new roof, gutters, fences and repainting.
The Queensland government realised that if they didn't make people put money aside for future works, then they wouldn't.  In the mid-1990s they brought in sinking fund and each building had to do a report and estimate what works would be require, what time frame they were needed to be done in and the cost.  They then work backwards and come up with a figure so that there will be enough money in the bank when the work is required.
The sinking fund is the second part of the levies.  This is for the future works or something that doesn't happen all the time.  This can include tree lopping, pressure cleaning, big garden upgrades etc.
I have been driving around and looking at all our properties, and let me tell you that the outsides are starting to look tired and need some work done to them.  If they are in a body corporate it is easy, get the quotes, pass it via the committee and get the work done.  The money is there sitting and waiting for the work to be done.
On the other hand, if it is a property not in a body corporate - the owners have to find the money to get this work done.
Linda Tuck is director of <a rel="nofollow" href="https://www.plrealty.com.au/about_us" target="_blank">Cairns Property Ladder Realty</a>,  an independent real estate agency in specialising in property management, investment and sales expertise in the tropical Cairns region.
 
 
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Body corporate or owner: Who takes responsibility for getting the job done?

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For seasoned and beginner investors alike, the property market offers far less certainty today than it did a decade go. Over a few short years the market has evolved to encompass a vast array of property types including off-the-plan developments, student accommodation, serviced apartments, housing estates and town developments to name only a few.
This evolution has undoubtedly increased the complexities around property investing. The market, now flooded with products, has become complex and confusing ultimately making investors vulnerable to poor property selection. Not all property assets perform the same and with so many to choose from, and many with powerful marketing incentives, the landscape has become difficult to navigate. Today purchasing property without sound advice leaves little degree of certainty that the property will experience good growth over time.
Investing in property to grow personal wealth is not a new concept, in fact some schools are now considering making it part of their syllabus due to its perceived importance in society. Investing in property through self-managed superannuation funds (SMSFs) has risen in popularity in recent times; with SMSFs holding approximately $80 billion of their $495 billion assets in residential and commercial property today. As such ASIC has implemented new rules to protect SMSF holders including preventing real estate agents, not licensed to provide financial advice, from giving advice to investors about their SMSFs -  is a job to be left to finance professionals.  So, although it is integral to always seek independent and reputable advice, it’s important to engage the right professional relative to your needs.
Making sure you seek advice about a product or service from the professional that works with that product or service is of upmost importance. So always obtain financial advice, particularly when it comes to your SMSF, from a reputable finance professional. However if s/he recommends investing in property then seek an independent property professional to help guide your purchase; particularly with today’s complex property market.
Just as financial advisors are critical to growing personal wealth, so are property advisors when it comes to selecting investments that are matched to your goals.  It’s all about seeking professional and independent advice from the right person – make sure they live, breath and are trained in the area you are seeking information on.  After all, you wouldn’t pay a property advisor to help you set up a SMSF or to invest in shares.
 
<hr>
Greville Pabst is CEO of <a href="https://www.google.com.au/url?sa=t&amp;rct=j&amp;q=&amp;esrc=s&amp;source=web&amp;cd=1&amp;ved=0CEAQFjAA&amp;url=http%3A%2F%2Fwww.wbpproperty.com%2F&amp;ei=Jb4hUevODOyamQX6mIGYDQ&amp;usg=AFQjCNH0u8Ji9ymluq8AKARfB-KjHZ-aFA&amp;sig2=DNsIKQR7tQj4PtYuiJOHPA&amp;bvm=bv.42553238,d.dGY" rel="nofollow" target="_blank">WBP Property Group.</a>
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Engage the right professional and get the right advice

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Leading Sydney auctioneer Damien Cooley's own Sydney home in Naremburn sold at Friday night auction, kicking off the weekend with a bullish result.
His auctioneer brother, Andrew Cooley from Cooley Auctions, knocked down the Darvall Street house (pictured) at $1,707,000 after the Chinese/Australian underbidder unexpectedly declined the chance to go to $1,708,000.
Damien and his wife Peppi paid $775,000 for the corner home, renovating, extending and building up, so they had confident $1.4 million plus hopes.
The neighbours - and there must have been 150 plus at the onsite auction - had told Property Observer pre-auction that $1.6 million plus was in the neighbourhood's expectation. Bidding started at $1.2 million, with the second bid at $1.6 million, showing the firmness of buying intent. There were the three major bidders in the running from then onwards. 
The current Naremburn median is $1.26 million, according to RP Data.
It was sold by conjunctional agents, the LJ Hooker Willoughby agent John McManus and Peter Chauncey at McGrath who had more than 250 groups through during the marketing campaign and issued 30 plus contracts. 
<a href="/news">It's Valentine's Day timing was co-incidence</a>.
Sydney will have 470 auctions this weekend - some 200 more than the same weekend a year ago. Next weekend is a record 770 for a February Saturday.
Australian Property Monitors says the inner west is the most active region with 74 auctions followed by the upper north shore with 69, the south with 68 and the city and east with upper north shore with 61 auctions scheduled.
APM senior economist Dr Andrew Wilson says Beecroft and Eastwood on the upper north shore are the most popular suburbs for auctions each with eight listings.
Redfern is next with seven, followed by Birchgrove and then Epping, Ryde and St Ives each with six scheduled auctions.
Last weekend there were 296 auctions and 90 odd in the first weekend back in February.
So far this year the weekend clearance rate has been 77% and the preliminary 84% from last Saturday.
The year's success rate sits almost 20 percentage points higher than the 62 per cent recorded over the same time last February.
The top performing regions last weekend were the northern beaches and Canterbury Bankstown, each with 100 per cent clearance rates.
Last weekend's dearest was 6 Long St, Strathfield, a four bedroom house sold at $2,280,000.
The weekend's cheapest was at Arncliffe, when the one bedroom ground floor unit at 2/1 Stanley Street sold pre-auction for $285,000.
 
<ul type="disc"></ul>
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DIY Cooley Auctions beckons Sydney's probably passionate Valentine's weekend auctions 

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Australian actor Portia de Rossi is known abroad not only for her turns on Arrested Development and Ally McBeal, but for her property prowess. With wife Ellen DeGeneres, de Rossi made news last month when the couple purchased the Brody House, a Los Angeles mansion designed by renowned architect A Quincy Jones.
The modernist masterpiece (pictured below) was constructed in 1949, with interiors by Billy Haine and Garrett Eckbo. In October last year, the mansion was updated by designer Stephen Stone to prepare it for market. Rumour has it the property, which has six bedrooms, nine baths and is set over a 4,118 square metre estate, was hardly on the market at all before DeGeneres and de Rossi snapped it up for a reported US$39.89 million (A$44.64 million) sum.
{yoogallery src=[images/stories/2014/02/17/ell]}
Photos courtesy of curbed.com
The house was commissioned by the late arts advocate Frances Lasker Brody and her husband, the late Sidney F Brody. After Frances Lasker Brody’s death in 2009, the property was sold for the first time for US$14.88 million (A$16.65 million) in 2010.
Portia de Rossi, legally known as Portia Lee James DeGeneres (born Amanda Lee Rogers), and DeGeneres have been involved in quite a few notable Los Angeles property transactions in recent years. Last year, the couple sold their ranch in Thousand Oaks, California. The 26 acre property was originally listed by the de Rossi and DeGeneres in 2011, with an asking price of US$16.5 million (A$18.5 million). It sat on the market for nine months after being pulled, and was relisted last year.
The eight bedroom, 11 bathroom ranch (pictured below) was <a target="_blank" href="https://www.propertyobserver.com.au/international/ellen-degeneres-and-portia-de-rossi-re-list-horse-ranch-for-%2410995-million/2013082663802">reportedly sold for US$10.95 million</a> (A$12.14 million). According to de Rossi, the ranch’s redesign was handled entirely by DeGeneres. In an interview with Elle Décor, the Geelong native said that the original property was a horse facility, with an unsalvageable main house. “I thought it might take five years for Ellen to finish the project,” she told the magazine. “And she did it in one! It was shocking.”
{yoogallery src=[images/stories/2013/08/aug27thousand]}
A number of other high profile properties have passed through Portia and Ellen’s capable hands. They purchased a US$26.5 million (A$29.45 million) <a target="_blank" href="https://www.propertyobserver.com.au/news/aussies-keeping-us-realtors-busy-olivia-newton-john-portia-de-rossi-and-frank-lowy/2013062661728">13 acre estate in Montecito</a> (pictured below), just outside of California’s Santa Barbara, in May 2013. Known locally as Saladino Villa, the six bedroom, seven bathroom home overlooks the Pacific ocean.
{yoogallery src=[images/stories/2013/06/june27saladino]}
The couple also sold their sprawling Beverly Hills estate (pictured below) in 2012 to US television personality Ryan Seacrest, for a whopping US$49 million (A$54.43 million).
{yoogallery src=[images/stories/EllenandPortia]}
<a target="_blank" href="mailto:jrichardson@propertyobserver.com.au">jrichardson@propertyobserver.com.au</a>
 
 
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Aussie Portia de Rossi and Ellen DeGeneres big players in the California prestige market

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Unemployment is the highest it has been in a decade and consumers are gloomy about the local economic outlook. But most people still expect house prices to rise and think that now is a good time to buy.
General consumer confidence dropped in February, hitting its lowest point since last July, the <a target="_blank" href="https://www.westpac.com.au/docs/pdf/aw/economics-research/er20140212BullConsumerSentiment.pdf">Westpac Melbourne Institute Consumer Sentiment Index</a> revealed. The index, released last week, fell by 3% in February to 100.2 from the January reading of 103.3. 
Consumer expectations on the outlook for the economy over the next 12 months were at their lowest since March 2012, having fallen 17.9% since the same time last year. Expectations for the next five years were at their weakest since February 2009, the Index showed.
Westpac chief economist Bill Evans put the poor results down to a run of bad news on the motor vehicle industry, other manufacturers, and Qantas, as well as heightened concerns about what to expect from the May Budget. A larger group of people also expected interest rates to rise over the next 12 months compared with the last time the bank surveyed on that topic in August 2013.
Despite the negative views, the latest survey found consumer attitudes towards buying residential property have stabilised and are still firmly in positive territory.
The “Time to buy a dwelling” component of the index came in at 129.3 in February, just a fraction down on January’s 129.4 reading and the 129.8 result for December 2013.
<img width="470" height="276" src="/images/stories/2014/02/14/chart-feb-14-one.gif" alt="chart-feb-14-one">
Source: Westpac Melbourne Institute Consumer Sentiment Index
Westpac senior economist Matthew Hassan told Property Observer a reading of 129.3 was quite good, although it is down 10.8% from its recent peak in September. “It should also be noted that responses tend to be positive - the average reading since 1975 has been 123.5,” Hassan said.
Expectations on house prices were still 26.2% above where they were at the start of last year. That’s despite a 2.2% fall in the house price expectations component of the Index which left it 4.3% below its December peak.
<img width="470" height="324" src="/images/stories/2014/02/14/chart-feb-14-two.gif" alt="chart-feb-14-two">
Source: Westpac Melbourne Institute Consumer Sentiment Index
As to why attitudes towards housing were holding up while broader sentiment was weakening, Hassan said the main reason was likely to be that mortgage interest rates were near record lows and the market was showing strong gains.
“We tend to find the index is influenced by both affordability and expectations for capital gains,” Hassan said.
NAB’s Quarterly Australian Residential Property Survey <a target="_blank" href="/news">released last Thursday</a> showed similar expectations of price appreciation. 
Respondents to that survey anticipate price gains in the range of 2 to 4% over the next couple of years. NAB’s own forecasts are slightly higher. It predicts average capital city house prices will rise by 6% to end of 2014 and 5% to the end of 2015.
“The story is modest but slowing growth over the next couple of years,” NAB senior economist Robert De luce told Property Observer. “That boils down to the impact of low interest rates, affordability, population growth and long-standing supply issues.”
NAB’s survey considers foreign buyers’ impact on the market. These people are outside of the local economy so their demand is less influenced by conditions in Australia.
De luce said there was little hard data around foreign buyers but according to NAB’s analysis, 6.5% of established dwellings and 11% of new properties are bought by overseas buyers.
HSBC chief economist Paul Bloxham said consumer sentiment was usually a timely indicator of economic conditions, but it wasn’t uncommon for there to be a large discrepancy between sentiment and spending behaviour.
“Sentiment indicators can provide valuable signals of what to expect for the future, but not always,” Bloxham says. “When you’re summing up what’s going on in the economy not everything is always moving in the same direction.”
Bloxham and colleague HSBC economist Adam Richardson <a target="_blank" href="https://www.research.hsbc.com/midas/Res/RDV?p=pdf&amp;key=tLvTwP32vL&amp;n=403708.PDF">put out a report last week</a> examining unemployment, which hit 6% in January, its highest level in a decade.
Bloxham and Richardson argue that while the unemployment figure looks bad – like the headline consumer sentiment numbers – other economic indicators, such as retail sales, business conditions and building approvals have picked up in recent months, pointing to a strengthening economy. Booming house prices also showed the economy was more resilient than sentiment would suggest.
news@propertyobserver.com.au
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Analysis – Why weak consumer sentiment hasn’t stopped demand for housing

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First home buyers will return to the property market as governments increase land supply, Stockland managing director Mark Steinert expects.
“We see a proactive focus from governments to improve the land supply that’s going to address the affordability issue,” Steinert said at the group’s half year results briefing last week.
Stockland, which produces small, high density residential properties at low price points, sells about half of the homes it builds to first-time buyers.
Despite low interest rates, first home buyer demand has been subdued as price rises and the removal of government grants for buying established dwellings have made it more difficult to save a deposit.
First home buyers accounted for 12.7% of total owner occupied housing finance commitments in December 2013, Australian Bureau of Statistics data shows.
<img alt="FHB-feb-14" src="/images/stories/2014/02/14/FHB-feb-14.gif" height="256" width="470">
Real Estate Institute of Australia president Peter Bushby said the figure was alarming compared with the long-run average of 19.9%. The REIA has called on governments to help first time buyers back into the market by allowing them to use superannuation savings to buy a home and by reinstating grants.
The Reserve Bank noted in its February Statement on Monetary Policy that demand for established housing was especially weak as changes in state government incentives for first home buyers toward new dwellings and away from established properties had shifted their purchases accordingly.
Housing Industry Association senior economist Shane Garrett said governments would have to further lift constraints on planning for new homes, land supply and infrastructure funding to maintain activity in the market.
“Addressing these issues will do much to improve longer term housing affordability,” Garrett said.
Steinert said there was a large amount of pent up demand from first home buyers for properties and rising prices in inner urban areas were encouraging people to look further out.
“There has been increased activity in the middle to outer rings as people search for a great lifestyle outcome at a competitive price,” Steinert said.
Stockland settled on 2,253 residential lots in the first half of 2014, an increase of 8.1% compared with the first half of 2013. Its revenue from residential property sales to consumers was up by 2.9% to $392 million, the group reported.
“We’ve seen a combination of price increases as well as volume [sales] increases,” Steinert said.
Prices for the group’s properties had increased by 8 to 10% in Sydney, and up to 5% elsewhere, he said. Packages that were previously on offer giving buyers extra such as landscaping included in the sale price were no longer widely available.
<a target="_blank" href="mailto:news@propertyobserver.com.au">news@propertyobserver.com.au</a>
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