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“Minister Chanthivong and his team have shown real leadership in replacing an outdated two-year bond with cover that matches the lifespan of the buildings people are buying into.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

Joel Robinson

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

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

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

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

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

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

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

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

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

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

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

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

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

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

Every First Home Owner Grant for new property by state

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

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

Staff Writer

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

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

alisonwarters@gmail.com

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

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

Ellen Walker

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

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

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

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A reputable, licensed mortgage broker, who has lending agreements with a wide range of lenders, should be able to tell how much you can realistically afford to borrow based on your financial position, goals and income and  provide you with a number of suitable options.
Always ensure there is enough of a buffer in your budget in case interest rates rise and your monthly repayments increase.
Alternatively, consider taking out a fixed-rate home loan if you want certainty or splitting your home loan between fixed and variable to hedge your bets.
Be aware that some brokers and lenders will try to charge you a higher interest rate for an investment loan, insisting it carries more risk.
However, other lenders do not differentiate between investors and owner-occupiers, so keep a look out.
Before signing up, ask the lender to waive the establishment fee.
Many lenders will waive these to secure your business.
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Speak to your mortgage broker and banker to know what you can afford with a nice buffer

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In my 20 odd years as a quantity surveyor, I have never seen more “mortgagee in possession” properties for sale than in the last few years. And this is particularly true for commercial property.
In fact, recent studies indicate that a whopping 25% or more of all commercial properties for sale have been distressed sales.
So what does this say about the commercial real estate market? Well, aside from the fact that now might be a good time to start snapping up bargains, there are other substantial tax benefits to be made. And it all relates to paragraphs 41 &amp; 42 or Tax Ruling 97/25;
Construction cost exceeds purchase price
41. Damian is a property developer who constructs a condominium of 38 units in a popular holiday resort. All units are intended for sale. During the construction period, he sells 28 of the units off-the-plan. After completion of the project, real estate prices drop significantly and he decides to sell the last of the units below cost.
42. David, an investor, buys one of the last units for $95,000. The actual construction cost of the unit to Damian was $105,000. David is entitled to a deduction under Division 43 based on construction expenditure of $105,000.
You see, the capital works deduction is based upon the actual construction cost, in comparison to most depreciating assets that are based upon what you pay for the item.
And as quantity surveyors, we are now preparing depreciation schedules where the construction cost is close to or exceeds the purchase price, just like the above example.
And as far as I’m aware, there is no other way under the Australian taxation system where you can get a deduction greater than what you actually pay for something.
When you buy a car from Mazda, for instance, you don’t ring up Mazda and ask what it cost them to manufacture the car - do you?
Buildings are different.
And if you don’t know the construction costs, TR 97 / 25 states that a report from a quantity surveyor will be accepted.
Remember, you can claim capital works (sometimes called building allowance) on commercial property if construction commenced after July 1982.
For residential buildings, construction must have started after July 1985.
Certain items within commercial properties also attract a higher rate of depreciation – like carpet.
That’s because office carpet gets more wear and tear than carpet in a home.
And it’s not just commercial property prices that have dropped close to or below construction costs. We have also seen this trend in relation to residential property prices in some holiday regions such as Noosa and Cairns.

<hr>
Tyron Hyde is director of <a target="_blank" href="https://www.washingtonbrown.com.au/">Washington Brown Quantity Surveyors</a>. 
His book <a target="_blank" href="https://www.claim-it.com.au/?utm_source=wbsite&amp;utm_medium=image&amp;utm_campaign=homepagebanner">CLAIM IT!</a> helps property investors maximise their tax benefits through smart deprecation.
 
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Claiming capital deductions on commercial property: Tyron Hyde

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It’s a curious factor in 21st Century Australia that whenever housing prices rise, even moderately as they are currently, hordes of attention-seekers start looking for someone to blame. 
   The first curious thing is that anyone would think “blame” is appropriate. Apparently rising home prices is a bad thing, although two-thirds of Australian households (those who own their homes) have good reason to feel it’s a very good thing. And indeed, given that we’re all required to provide for our retirement and the family home is (for most people) the basis of their ability to do that, it’s also a good thing for the nation.   The second curious thing is that the finger-pointers never get it right in apportioning blame. Popular but misguided options are property investors (supercharged by negative gearing tax benefits, apparently), foreign investors (who pay silly prices, according to popular theory) and first home buyers (driven by government grants and stamp duty concessions).   The third curious thing is that the many people shouting “crisis” never produce any research data to support their theories that investors/foreigners/first-timers are the guilty parties in creating the outrage of increasing home values. This is because the data doesn’t exist. There’s no basis for any of the theories.   The reality is that the bulk of property buyers are next-time buyers – i.e. home buyers other than first-time buyers. Unlike first-timers, next-time buyers have the capacity to pay a top price and, unlike investors, they have the motivation to do so. Next-time buyers are more than half of the market (more than foreigners, first-time buyers and investors combined) and have the bulk buying power to cause prices to rise.   Curiously, no one ever blames them – the real movers and shakers in the property markets.   But, wait, we have a new contender. The Reserve Bank has come up with another candidate in the blame game: mums and dads who start self-managed super funds and buy real estate.   Those of you who thought that you were doing the right thing by your family and the nation by seeking this method of providing for your retirement, think again. You’re naughty boys and girls because you’re pushing up house prices. The RBA wants you to have assets in your SMSF that don’t grow in value, apparently, if that makes sense to anyone.   I think it’s time for the whole nation to take a collective cold shower on the issue of house prices. Since mid-2010, the last time we had serious price growth in the capital cities, we have had two years in which prices generally declined.   In the past 12 months the weighted average across the eight capital cities is a rise of 5% to 6%, depending on which research source you prefer. That is moderate growth only, roughly in line with the rise in incomes.   Keep in mind that the weighted city average in the ABS House Price Indexes in June quarter 2010 was a rise of 18.4%. Every city except Brisbane was in double digits, headed by Melbourne’s annual rise of 24.3%.   Growth of that sort might justify the current frenzy of comment about booms, bubbles and blame. But, right now, rather than the “white hot” markets that some are screeching about, we have lukewarm markets only. And no one deserves to be blamed for that.
 
<hr>
 Terry Ryder is the founder of <a target="_blank" href="https://www.hotspotting.com.au/" rel="nofollow">hotspotting.com.au</a> and you can contact Terry via <a href="https://mailto:%20ryder@hotspotting.com.au" target="_blank">email</a> or on <a href="https://twitter.com/hotspotting" target="_blank">Twitter</a>.
 
 
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It's time for a collective cold shower on house prices: Terry Ryder 

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A reputable, licensed mortgage broker, who has lending agreements with a wide range of lenders, should be able to tell how much you can realistically afford to borrow based on your financial position, goals and income and provide you with a number of suitable options.
Always ensure there is enough of a buffer in your budget in case interest rates rise and your monthly repayments increase. Alternatively, consider taking out a fixed-rate home loan if you want certainty or splitting your home loan between fixed and variable to hedge your bets.
Be aware that some brokers and lenders will try to charge you a higher interest rate for an investment loan, insisting it carries more risk.
However, other lenders do not differentiate between investors and owner-occupiers, so keep a look out. Before signing up, ask the lender to waive the establishment fee. Many lenders will waive these to secure your business.
<hr>
This article is fromProperty Observer's free ebook <a href="/guides/free-ebook-top-10-property-investment-tips">Top 10 Property Investment Tips</a>
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Look locally to see what the real rental returns could be

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I have no doubt that Sydney’s property markets are set for rapid growth at the lower price ranges which will flow to the top-end, however it will be a trickle not a tsunami. They say: when you make a mountain out of a molehill, don’t expect anyone to climb up to see the view. You see the view is otherwise known as an opinion with the voice coming from the Reserve Bank of Australia (RBA). The Sydney Morning Herald conveniently published this week – <a target="_blank" href="https://www.smh.com.au/business/the-economy/how-to-spot-a-housing-bubble-20130925-2ue44" title="How to spot a housing bubble.">how to spot a housing bubble.</a>
When looking at the view of our local market look no further than <a target="_blank" href="https://www.rwm.com.au/news/" title="this week’s sales">this week’s sales</a> which identifies in Mosman, Cremorne, Cremorne Point, Neutral Bay and Cammeray there were 32 sales with 22 of those sales being apartments, making up 69% of the week’s sales. 
<a target="_blank" href="https://www.macrobusiness.com.au/2013/09/rba-get-real-sydney/" title="RBA tells Sydney to get real">RBA tells Sydney to get real</a> when the RBA released its financial stability review this week. “Over the past year or so there has been an increase in property market activity. This is not surprising given the reductions in interest rates. The pick – up in demand, which has been sharper in New South Wales and from investors more generally, has been associated with recent increases in housing prices. It is important that those purchasing property do so with realistic expectations of future dwelling price growth.”
<a target="_blank" href="https://www.smh.com.au/business/reserve-warns-diy-super-may-set-new-property-debt-trap-20130925-2uei4" title="Reserve warns DIY super may set new property debt trap ">Reserve warns DIY super may set new property debt trap </a>although what needs to be pointed out is that Australia’s mortgage market is worth a whopping $1.2 trillion with the SMSFs totalling approximately $80 billion. If you want to throw another hand grenade: the RBA could start a rumour that the Abbott government is looking at abolishing negative gearing. Now that would add plenty to the spinning property fan.
Christopher Joye, writing for the Australian Financial Review wrote <a target="_blank" href="https://www.afr.com/p/markets/market_wrap/only_fools_ignore_bubble_trouble_tcMdVkWXAAWCs1PcK2SG9O" title="Only fools ignore bubble trouble">only fools ignore bubble trouble</a>; “residential property is the biggest source of household wealth and underlies the most important asset – home loans – held by Australia’s colossal and concentrated banking industry, which accounts for 30% of the share market’s value. There is $4000 billion of housing and $1300 billion of debt held against it. It is our most significant investment class. So are we in the throes of a bubble, and should we worry about the risks of one materialising?”
<a style="margin: 0px; padding: 0px; border: 0px; outline-width: 0px; font-style: inherit; font-family: inherit; vertical-align: baseline; color: #be002d; text-decoration: none;" href="https://www.rwm.com.au/files/2013/09/23-09-2013-9-57-43-AM.jpg"><img style="margin: 0px auto; padding: 0px; outline-width: 0px; font-style: inherit; font-family: inherit; display: block; max-width: 100%;" height="219" width="470" src="https://www.rwm.com.au/files/2013/09/23-09-2013-9-57-43-AM.jpg" alt="23-09-2013 9-57-43 AM" class="aligncenter size-full wp-image-8206"></a>
Source: RP Data, ABS, Australian Financial Review
The main issues as I see it is that banks maintain a lending responsibility given our economy still harbours strong concerns with what is happening overseas. What many seem to forget is that despite Australia experiencing a record low cash rate of 2.5%, if the property markets take-off so too will the cash rate. So with all these warnings and variables it would be fair to say there has never been a better time to buy given the cash rate will go-up, so lock and load the present rates in.
Another factor that is being missed is <a target="_blank" href="https://www.scmp.com/property/international/article/1311717/record-number-chinese-buyers-pump-property-prices-sydney" title="Record number of Chinese buyers pump up property prices in Sydney.">record number of Chinese buyers pump up property prices in Sydney.</a> Then you have the combination of Chinese and local investors buying <a target="_blank" href="https://www.afr.com/p/australia2-0/of_barangaroo_apartments_sell_out_jF37jrlXYVTvxYQ5wNsnhK" title="$300m of Barangaroo apartments sell out in hours ">$300m of Barangaroo apartments, which sold out within hours</a>, an expected result given its unique location. Agents today are being taught and advised on <a target="_blank" href="https://www.propertyobserver.com.au/news/marketing-your-property-to-chinese-buyers/2013092465226" title="Marketing your property to Chinese buyers ">marketing your property to Chinese buyers </a>as <a target="_blank" href="https://www.news.com.au/realestate/news/significant-investor-visa-holders-target-highend-sydney-properties/story-fnd91nhy-1226711353150" title="significant investor bias holders target high – end Sydney properties.">significant investor bias holders target high – end Sydney properties.</a>
It will be most interesting to see what the newly elected Abbott government does with the previous government’s Significant Investor Visa (SIV). SIVs were introduced on November 24 2012, and have attracted over 100 applications from wealthy Chinese investors looking to spend at least $5 million in Australia. Whilst some are suggesting that the Abbott government will scrap this initiative it should however be noted that this is aimed at the top-end markets which are showing just a pulse in terms of activity.
Another week of tight listings which continue to remain well down on previous year’s volumes. With school holidays finishing on October 8 we should see just how confident our market is, although I expect that we won’t see much difference from what we have seen all year.
Another reason why (in my opinion) that we have such a strong focus on what’s happening to the property markets at the moment is that there is not that much to write about. Newspapers are renowned for talking real estate up due to them trying to reignite their “rivers of gold” print revenues.
That’s my conspiracy theory.
 
<hr>
 Robert Simeon is a director of <a style="font-size: 14px;" rel="nofollow" target="_blank" href="https://www.rwm.com.au/" title="RWM">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 style="font-size: 14px;" 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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There's never been a better time to buy: Robert Simeon

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Is it de rigueur to hang chandeliers in a garage?
<img src="/images/stories/2013/09/06/HE-SAID-WORDS.jpg" alt="HE-SAID-WORDS" width="132" height="30"><img src="/images/stories/2013/09/06/NO.jpg" alt="NO" width="55" height="30"><img src="/images/stories/2013/09/06/jc-silhouette-5.jpg" alt="jc-silhouette-5" width="165" height="248" style="float: right;">
Hanging chandeliers in a garage is a wasteful and unnecessary Marie-Antoinette style of extravagance that should be discouraged. Gathering dust in a corner is okay, but sparkling overhead is a silly notion.
Even the late Liberace, who was the king of gaudy over-the-top interior décor, didn’t hang crystal confections in the garage of his cheap Palm Springs home.
No bloke will honestly want the garage space turned, even rarely, into a ballroom. Imagine having to get the oil spill stains off the floor before the big night.
A garage with chandeliers is almost as ridiculous as chandeliers in a chook shed.
<div style="text-align: center;">
<img src="https://st.houzz.com/simgs/c2f10f3100357a9f_3-5369/traditional-garage-and-shed.jpg" width="210" height="320" style="display: block; margin-left: auto; margin-right: auto;">Photo: Lindsay von Hagel, Houzz
</div>
<img src="/images/stories/2013/09/06/mb-silhouette-4.jpg" alt="mb-silhouette-4" width="165" height="248" style="float: left;">
<img src="/images/stories/2013/09/06/SHE-SAID-WORDS.jpg" alt="SHE-SAID-WORDS" width="149" height="30"><img src="/images/stories/2013/09/06/YES.jpg" alt="YES" width="55" height="30">
Why not? It’s frivolous and fun. As interior designer Garth Barnett says “if you can you afford it, you can have it”.
But be warned hanging chandeliers in the garage will only work in some homes. But certainly for instance, the Gold Coast hinterland mansion which sold recently for $7.2 million,<a href="https://www.propertyobserver.com.au/news/bellagio-la-villa-the-grand-gold-coast-mansion-sells-at-72-million/2013092465239" target="_blank"> Bellagio La Villa</a>. This vast 10-bedroom residence has a five-car garage festooned with gilt and glass chandeliers (pictured below). Given the sumptuous décor throughout the rest of the house, these garage light fittings seem appropriate.
<img src="/images/stories/2013/09/27/tallebudgera-sept-27-one.jpg" alt="tallebudgera-sept-27-one" width="470" height="240">
A champion of chandeliers is the renowned international designer, Iain Halliday, who often allows the uniqueness of Venetian or Baccarat crystal to make a lighting statement within a contemporary inner city interior.
While his use of glamorous chandeliers usually is confined to living and dining spaces, garages could be next if he turns his attentions to projects in the NSW Southern Highlands. Perhaps even horse stables!
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jchancellor-FAypfDUnLy

Chandeliers hanging in the garage? He Said/She Said

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The June 2013 reporting season has recently been completed, with most AREITs releasing results in-line or slightly better than forecast. A review of the major underperformers and outperformers during the reporting season (31 July 2013 to 30 August 2013) has been undertaken.
AREIT performance over the reporting season 
During the reporting season, the AREIT sector generated a negative return of 0.2%, underperforming the Australian share market by 2.7%. Underperformance of the sector is partly attributable to an increase in long-term government bond yields during the month with long-term bond rates increasing by approximately 0.18% to 0.20%. Chart 1 below shows the total returns of individual AREITs over the reporting season.
Chart 1 – AREITs returns over August 2013
Click to enlarge
<a href="/images/stories/2013/10/08/areit-oct-9-big.gif" title="Click to enlarge" rel="shadowbox"><img src="/images/stories/2013/10/08/areit-oct-9-small.gif"></a>
 
 
Source: IRESS
 
Underperformers
Key underperformers during the reporting period were FKP Property Group whose share price fell by 16.9%, BWP Trust which fell by 5.9%, and GPT Group falling 3.0%.
FKP Property Group reported an impairment of $188m of its held properties and an 11% fall in its NTA just prior to the release of its financial year-end results and was subsequently sold down heavily. Statutory profit, dividend per share and earnings per share fell considerably.
The fall in value of the BWP Trust during the reporting period is mainly attributable to an entitlement equity raising made on August 8, 2013 at a discount of 4% to the prevailing stock price. This raising was completed on August 26, 2013. Financial results were in-line with expectations for the Trust with the exception of an increase in debt which increased finance costs by 6.2% and a fall of 1.2% in distributable profit for the financial year.
GPT financial results were below expectations attributable mainly to downward revaluations of properties held in Dandenong and Charlestown. Statutory profit, which includes exceptional items, was down by 6.7% from 2012 results and was below expectations. Net operating income growth slowed by 0.7% during the first six months of the year. The company’s has revised its earnings per share forecast down by 0.4% for the financial year ending June 30, 2014.
Outperformers
Key outperformers during the reporting period were Cromwell Property Group, whose share price rose by 5.6% and Stockland, which rose by 4.2%.
Cromwell Property Group stock price rose by 2% on the day of its release of the financial results. Results were in-line or slightly above expectations for the financial year. Dividends per share and dividend payout ratio were slightly higher relative to 2012 financial results and in-line with expectations. Operating profit amounted to 7.6 cents per share relative to expectation of 7.5 cents per share, with property investments contributing to 95% of operating earnings (up by 21% from last year). Additional rental income from properties acquired in NSW and Brisbane CBD in May 2013 contributed to a higher operating profit than expected. The company forecast an increase in operating profit of 8.8% and an increase in distributions of 3.4% for the financial year ending 30 June 2014.
There was no significant impact on Stockland’s share price following the announcement of weaker financial year results, as they were in-line with expectations. Stockland reported a fall in earnings per share of 24% during the financial year mainly attributable to a fall of approximately 79% in statutory profit, resulting from the writing down of its residential portfolio by around $355 million during the year. Strong performance relative to the sector during the reporting season can be partly attributable to the company’s positive outlook for the residential property market.
 
<hr>
 Binesh Seetanah is an analyst at <a href="https://atchison.com.au/" target="_blank">Atchison Consultants</a>.
 
 
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A-REIT performance over the reporting season: Binesh Seetanah

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To receive an attractive rental return from your investment, you will firstly need to find tenants and secondly find tenants that are willing to pay the rent you’re advertising.
Terri Scheer Insurance general manager Carolyn Majda says that when choosing a property to invest in you should think about the tenant demographic you want to  attract, for example a family, sole tenant or couple, and choose a home that is likely to appeal to them.
She also advises considering properties that are close to good schools, shops and public transport as these are likely to be well sought after and may give you a larger pool of prospective tenants from which to choose.
Other things to consider include whether it is a well-maintained building (if you are buying an apartment) and if there is good natural light.
Byron Rose principal of real estate firm Rose &amp; Jones, NSW, says the question investors should ask themselves is: “Would you live here, and would you be prepared to pay market rent for the property?”
<hr>
This article is fromProperty Observer's free ebook <a href="/guides/free-ebook-top-10-property-investment-tips">Top 10 Property Investment Tips</a>
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Don’t put all your eggs in the one basket

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There are many myths associated with company title property ownership and most are not positive. You will often hear statements like “I wouldn’t touch company title with a barge pole”. For some – this is a valid and educated position; for others it is a form of hysteria born of ignorance and misunderstanding.

Make no mistake – there are a number of issues pertaining to company title property ownership that can be vastly less than ideal. Before addressing the pros and cons we should understand just what company title ownership is and provide some comparison to the modern and now more customary strata title ownership.

Company title ownership was essentially the legal precursor to strata title. It allowed for the subdivisionof an apartment building so that there could be individual ownership of home units or flats. A company was formed and share parcels created. The company owned the building (and the land it occupied) and individuals could acquire specific share parcels. Each of these share parcels were linked to a respective flat (and/or other improvements such as a parking space or storeroom). The owner of a share parcel essentially became the tenant of the associated flat and was insomuch bestowed the exclusive and quiet enjoyment of the pertinent residential space. Their ownership is indeed that of shares and those shares are in a company formed specifically as owner of the building concerned.

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To clarify this – let’s create a fictional building. Let’s call it “Park Royale”. Park Royale has 10 equally sized flats and the company Park Royale Pty Limited is the owner of the building. Park Royale Pty Limited comprises 1,000 shares and these are divided into 10 share parcels (ie one for each flat). Share numbers one to 100 are for flat #1; shares 101 to 200 are for flat #2 and so on. A buyer seeking to buy flat # 2 is actually buying shares 101 to 200 in Park Royale Pty Limited.

And now our story begins...

Strata title ownership offers a defined area within a building (ie as defined in a surveyed strata diagram). It is clear what area of the building and precisely what square metres you own. In almost all cases, no such diagram of specifically defined area exists for company title ownership (in very rare instances – company title buildings have prepared a survey diagram of the flat areas. This is very much the exception). In company title, one does not actually own a specific area of the building – rather they are buying shares in the company and the exclusive use of a particular flat.

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As is normal with corporations law – Park Royale Pty Limited will have a constitution and articles of association. This will establish definitions and the manner and form of the company’s operation. Most of this detail is fairly standard; however amongst the articles of association and then the “house rules” you will find the level of restriction associated with this particular building. People often state “you can’t rent in a company title building” or “the banks won’t lend against company title”. These are generalisations that are sometimes true and sometimes completely erroneous. Here is a list of some of restrictions/allowances to look for when considering a company title purchase:

<ol>
<li>
	Are there restrictions upon who may actually be approved to purchase the shares (eg does a minor criminal infringement preclude board approval)?
	</li>
	<li>
	Is renting of the flat allowed (ie sub-letting given you are already the ‘tenant’)? Some buildings completely prohibit renting (ie the shareholder must be in residence).
	</li>
	<li>
	If renting is allowed; are there restrictions?

	<ol style="list-style-type: lower-alpha;">
<li>
		Is there an exclusion period of ownership before renting is allowed (eg no rental for first 12 months of ownership)?
		</li>
		<li>
		Is there a time limit to how long a flat may be let (eg four years then must be returned to owner/occupied)?
		</li>
		<li>
		Does the tenant need to be approved by the company board?
		</li>
		<li>
		Is there any control on the weekly rental price (minimum or maximum) that the flat may be leased for (eg some buildings may set a minimum rental price to ‘control’ the quality or calibre of tenant)?
		</li>
		<li>
		Do the articles limit or restrict the level of mortgage that may be taken against the shares (eg some buildings insist on certain levels of equity/deposit to purchase)?
		</li>
		<li>
		Are there restrictions upon the style/plan of any renovations to the flat (eg some buildings control the use of certain tiles/materials hoping to maintain character)?
		</li>
		<li>
		Can the board resume shares (ie if the board feels the owner is not ‘appropriate’; they can seek to resume the shares and force their sale essentially evicting the owner)?
		</li>
	</ol>
</li>
</ol>
Some company title buildings are very restrictive and others are essentially laissez faire. Some company articles specifically resolve in favour of renting and providing comfort to borrowers.

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Having considered some of the issues that may arise within a specific company title building, we should also focus upon broader issues that are fundamentally significant to this type of share ownership. We return to the matter of owning shares versus a defined portion of real property.

 

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Interestingly, until recent years, almost every company title sale by an agent was in contravention of the Financial Services Reform Act. This also applied to the majority of bank valuations upon such sales. When given due thought – the issue is somewhat obvious. Rarely is an agent nor a valuer also a holder of a Financial Services Licence under the Act. That is neither are licenced to represent a sale nor provide an a opinion of value for shares – which is precisely what is happening when selling and valuing company title properties. As the REINSW outlined:

“ASIC have identified this as an anomaly in the legislation and accordingly by Class Order [CO 00-213] has exempted real estate agents from the licensing regime under the Act in respect of the sale of company title property.

 

"Class Order [CO 05/1243] ensures that persons providing financial services by providing valuations of shares in real estate companies are not subject to the burdensome and inappropriate regulation under the financial services regulatory regime. 
"The exemption recognises that the valuation of shares in real estate companies is equivalent to valuing and providing advice on the valuation of real estate, rather than providing financial product advice in relation to shares in a company.”

 

This concession by ASIC helped draw company title ownership a step closer to strata title by acknowledging that company title shares are relevant only to a specific piece of real property. Our fictitious Park Royale Pty Limited only owns “Park Royale” and shares 101 to 200 are specific to flat # 2. You can’t sell five shares (as you might sell part of a equity share portfolio on the stock market) and you as a shareholder in the company also have duties relating to the building and deposited plan as a whole (as a strata tile owner has with the common corporate body).

This was a small bonus; however the real “elephant in the room” which is not discussed often enough (especially between agents and buyers) is the issue of recourse or remedy.

What happens if there is a dispute or need for an interpretation within a company title building? If strata title – there are benchmark statutes and tribunal bodies for judgement and appeal. Company title buildings are governed ostensibly by Federal Corporations Law and the jurisdiction is court. Happily the Local Court Amendment (Company Title Home Unit Disputes) Bill 2013 means that many disputes may now be heard in the Local Court (previously the Equity Division of the Supreme Court action was required).

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An owner who has a grievance or dispute that cannot be resolved “in house” must take their issue to court – a vastly more cumbersome, intensive and potentially costly exercise. When all is well in a company title building; as with everything – life is easy. When matters “go off the rails” – company title can be a horrible Pandora’s box.

For example – a young couple owned a two-bedroom company title apartment on the waterfront of Darling Point. By the time they had their second child; the apartment was simply too small for their family. They had owned the apartment for a number of years always as owner-occupiers. They decided to move out to a rented house and to try out a new area of Sydney. On this basis they decided to lease out their current apartment and enter into a two-year lease with another owner in the building (ie a board approved share holder) who also needed to upsize.

Whilst renting, the young family found a new house they wished to purchase; however they needed to sell their company title apartment to do so. A suitable buyer was found. The price was accepted and the buyer was deemed appropriate by the board. The issue was that the building restricted a new owner from leasing in their first 12 months of ownership. The subject flat still had 14 months to run on its lease. Insomuch the board refused the approval of the sale on the basis that its “house rule” concerning leasing could not be satisfied. The tenants were locked in and the board would not budge. The upshot is that the young couple were denied any opportunity to realise a sale and essentially meant that all of their property equity was tied up and not accessible.

Many appeals were made to the board with various undertakings about the intending new owner taking up residence the moment the tenants vacated and so on. The board was steadfast and an impasse was reached. It should be noted that the specific “house rule” had been varied over the years at the board’s discretion. The board could have easily approved the sale however it would not. The end of this story is happy – however it took a group of new board members being elected before the sale was able to proceed.

The events above may fall into the domain of an “oppressive board” as discussed in the 2006/7 New South Wales Law Reform Commission (NSWLRC) investigation into disputes in company title home units. The NSWLRC considered legislating company title ownership to more closely mirror strata title ownership in terms of rights and remedies available to shareholders.

It found that examples existed of individual or multiple shareholders feeling or actually being “oppressed” by boards (or members of). That is the board abusing its power and knowing that opposition would require involved court action. Some owners were found to be too frightened to oppose or speak up against a board or board member in fear of associated consequences or fall out. The initial board’s stance in the story outlined above essentially rendered the young family’s ownership with ‘zero equity’ and they were unable to move forward with their lives on the basis of the particular boards’ belligerent and unreasonable position on a unique anomaly.

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Significantly – whilst the NSWLRC recommendations did result in some important revisions, there remained a view that company title ownership had its own particular idiosyncrasies and benefits that had appeal for a section of the home owning community and that the Commission was loathe to attempt a change upon a system that conferred a type of control that the majority of owners are aware of when making their purchase decision. Many owners relish the level of control over the approval of their co-owners or the limitation or complete prohibition of renters. It is this “quality control” that often appeals to intending company title purchasers.

 

<hr class="system-pagebreak">
Returning to the question of equity is a segue to the matter of mortgages or lending for a company title purchase. The fact remains that the sale concerned is that of shares and some lenders simply don’t lend for company title. It is an in-house risk and legal assessment and some institutions just don’t offer the requisite facility.

Other lenders do; however they may require a larger injection of upfront cash equity (ie their loan to value ration or LVR may be lower). In these cases lenders may only be prepared to lend 60 to 70% of the sale price – the balance needing to be paid in the form of a larger deposit. Having said that, some of the major lenders will allow an LVR of 80 to 85% with company title purchases (subject to the restrictions in the articles of association). Company title borrowing is certainly widely available; however not as easily as against its strata-title cousin.

Conveyancing for company title is another item to address. Whilst a contract will require council zoning and sewerage diagrams – these are pertinent to the overall building and deposited plan. The contract will require company financials; copy of the share certificate; the constitution and articles of association; special conditions and so on. Whilst being a sale of shares – there is no cooling off period applicable. That is the sale is essentially unconditional and no 66W certificate is involved.

Essentially unconditional is the case in so far as most company title share sales involve a special condition that the sale is indeed subject to the company board’s approval of the purchaser and transfer. The purchaser cannot “cool off” and they are obligated to conduct their best endeavours to satisfy the board’s inquiries; however until the transfer is approved – the sale remains conditional.

Having given attention to all of this; what is the attraction to owning a company title home unit? One significant factor is that of actual value for money. Despite all of the ‘baggage’ that may be involved; the silver lining is that purchase prices are often lower than buying strata title. I regularly hear comments like “company title is 10% lower” which is actually a complete shot in the dark. A much broader context applies – not the least is the market expectancy. That is whether or not company title is a regular or expected event within a certain market place. If one considers Potts Point or Elizabeth Bay then company title is very much regular place and a large proportion of wonderful art-deco buildings in this area are indeed company title.

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There is often a certain cache attached to company title in these areas. They are reminiscent of the elite New York co-operative buildings filled with celebrities and the mega-rich. Often these New York buildings are cash only ownership and approval is a genuine ordeal with new owners having to provide vast details of their personal history and financials. The postcode 2011 isn’t at these exclusive levels; however buying company title in Potts Point/Elizabeth Bay isn’t nearly the impediment that the solitary company title building in Dover Heights might present.

This Eastern Ave block is a surprise stand alone amongst a deluge of neighbouring strata title lots and is often met with “Company title? Out here? What?”. This building is assisted by a very ‘helpful’ set of articles of association; however it definitely suffers price-wise against its competing strata title offerings. A company title flat with restrictive articles not in an “accepted” locale will incur significant buyer resistance which is usually only offset by a genuine price advantage.

The message in all of this is that company title ownership is quite distinct from strata title apartment ownership. Strata title is a vastly more uniform pursuit with clear rights and obligations and opportunities for recourse in the event of dispute. Company title may represent a saving in the upfront purchase and it may offer an improved level of “quality control” for owner occupiers.

Each instance is quite specific and particular due diligence is required on a case by case basis. In certain situations (such as owning in a grand building in Potts Point or Elizabeth Bay) there is almost no avoiding it. Company title ownership shouldn’t be treated as ‘buyer beware’ – instead it’s more a case of ‘buyer be aware’.

 

<hr>
Brad Caldwell-Eyles is a principal at <a href="https://www.1stcity.com.au/" rel="nofollow" target="_blank">1st City - Hasemer+Caldwell-Eyles</a>.

 

 

 
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Truth v myth; the must know facts about buying company title: Brad Caldwell-Eyles

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The Coalition’s new paid parental leave (PPL) scheme – starting from July 1 2015 - will pay a replacement wage up to an annual salary of $150,000, funded by a levy on the 3,000 biggest employers.
No policy is perfect, and the Coalition’s PPL scheme is no exception, but I think this is a good move for a number of reasons.
Firstly, we need women to be involved in our economy where possible and we need our policy settings to encourage and support that. The good news is that female participation in the labour force is rising – from 60.3% in 2000, to 65.3% in 2011. That’s a 5% rise in just 11 years while the male participation rate was flat.
The problems for women are many: as the cost of living increases, they are compelled to work; when working women have children and stop working, it puts stress on household finances; when they do go back to work, women still absorb most of the home duties meaning their extra income often goes on child care costs; when women take time off to have children, they usually lose their superannuation contributions; and when women with kids do go back into the workforce their preference for part time and casual work reduces their income and their superannuation.
Therefore we are faced with this conundrum: women earn less than men during their working lives, meaning they have less superannuation. Yet women live longer and therefore have longer retirements to fund.
The government needs to be congratulated for ensuring that the new PPL scheme will keep the superannuation guarantee contributions going during the paid leave.
More still needs to be done to lift the average super balances of women to parity with men’s – in 2010 the average female super balance was around $40,400, compared to the average male balance of $71,600. But allowing women to take 26 weeks off to care for their baby, with no discontinuation of their super, is a really good start.
Small business owners are also going to benefit from the PPL scheme. Many women choose to work at large companies or government departments, attracted to maternity policies and benefits.
With paid parental leave being funded from Canberra, smaller business owners will be on a more level playing field with the big employers, because they’ll be able to attract and retain female employees of child-bearing age.
And women will be able to make employment decisions based on criteria other than maternity benefits.
In the end, superannuation could be the crucial part of this policy. But also watch women of child bearing age giving up long commutes to the CBD as they realise that working for a small business does not penalise them for having a baby.
 
<hr>
Mark Bouris is executive chairman of <a target="_blank" rel="nofollow" href="https://www.ybr.com.au/">Yellow Brick Road</a>, a financial services company offering home loans, financial planning, accounting and tax, and insurance.
You can contact Mark on <a rel="nofollow" href="https://twitter.com/markbouris" target="_blank">Twitter</a>.
 
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