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“Minister Chanthivong and his team have shown real leadership in replacing an outdated two-year bond with cover that matches the lifespan of the buildings people are buying into.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?

When buying an apartment, most people compare the big-ticket items first. Floorplans. Kitchens. Balcony size. Natural light. The view.

But there's one everyday consideration that often doesn't come up until after moving in: how parcels are delivered.

As online shopping has become part of everyday life, parcel deliveries have shifted from an occasional event to a regular occurrence. Australians spent a record $82.6 billion shopping online in 2025, with almost one in every four retail dollars now spent digitally.

For apartment residents, that can present a challenge.

If nobody is home to accept a delivery, parcels may be redirected to a nearby Post Office, left in a building lobby or common area, or require building management to step in. In higher-density buildings, where dozens or even hundreds of residents may receive deliveries each day, parcel management has become an increasingly important part of everyday living.

That can create a range of frustrations. A missed delivery often means making time to collect a parcel elsewhere, while packages left unattended in foyers or mail areas can create clutter and increase the risk of theft. What seems like a minor inconvenience can quickly become a recurring issue for residents who shop online regularly.

It's one of those details that rarely features in a display suite but can have a noticeable impact once residents move in.

As a result, buyers are beginning to look beyond traditional apartment features and consider how a building supports day-to-day convenience, including whether there are secure options for receiving deliveries.

Australia Post's Parcel Lockers provide one solution.

<iframe allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" allowfullscreen="" frameborder="0" height="315" referrerpolicy="strict-origin-when-cross-origin" src="https://www.youtube.com/embed/CkF2oKmlACg?si=C50sDaoUUn2nuLmq" title="YouTube video player" width="560"></iframe>

Rather than having a parcel delivered directly to an apartment, eligible deliveries can be sent to a nominated Parcel Locker. Once the parcel arrives, residents receive a notification through the AusPost app or SMS and can collect it using a QR code or one-time PIN at a time that suits them.

The Parcel Locker network now includes more than 1,500 locations nationwide, with installations at Post Offices, shopping centres, transport hubs and an increasing number of residential developments. By providing a secure collection point, Parcel Lockers help reduce missed deliveries and avoid parcels being left unattended in common areas.

For developers, parcel infrastructure is becoming another way to improve the resident experience. Rather than relying on concierge staff or leaving parcels in communal spaces, secure collection points help streamline deliveries while preserving the presentation and functionality of shared areas.

For buyers, it's a reminder that the best apartment features aren't always the most obvious.

A generous floorplan or quality finishes might help narrow the shortlist, but the conveniences that simplify everyday life, whether that's EV charging, secure bike storage or reliable parcel delivery, often become the features residents appreciate most once they're living there.

The apartment feature many buyers don't think about, until their first missed delivery

jduke-EHk3XBmHkn

Victorian election real estate dramas: Underquoting and "election stunts"

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We are currently in the most competitive variable home loan market since the GFC, according to the director of Mozo.com.au, Kirsty Lamont.
Lender Heritage Bank has just dropped their variable home loan rate down to 4.39%, which according to <a href="https://mozo.com.au/home-loans" target="_blank">Mozo</a> analysis of RBA average home loan data, is a rate not seen for average home loans since the 1950s.
"Fierce competition has well and truly returned to the market as smaller and online lenders cut rates to record-low levels to compete with the majors,” Lamont told Property Observer.
She urged borrowers to look beyond the big four banks, with savings available of $2,064 per year based on a $300,000 loan over 25 years. 
"You may have to be prepared to do some of the leg work yourself but that could earn you some solid savings on your home loan,” she said.
Here are the top five loans currently available:
<a href="/images/2014/11/25/loans-nov-25-one.jpg" target="_blank"><img src="/images/2014/11/25/loans-nov-25-one.jpg" alt=""></a>
*Comparison rate displayed is for a secured loan with monthly principal and interest repayments for $150,000 over 25 years
Source: <a href="https://mozo.com.au/" target="_blank">Mozo.com.au</a> as at 24 November 2014
Mozo’s data, which looks at 551 loans from 79 providers, records 62 providers offering variable rates less than 5%, with an average variable home loan rate of 5.22%. The average variable rate of the big four is 5.38%.
These average rates have been based on LVRs of up to 80% on a $300,000 loan amount.
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The top five variable loans currently available: Mozo

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There’s no bubble in Australia’s housing market, but that doesn’t mean you can rest easy, according to ANZ’s chief economist Warren Hogan.
Speaking on ANZ’s BlueNotes, Hogan said that we have the platform to see a bubble develop over the next few years, particularly if more people start purchasing speculative investment properties for short-term growth.
“There’s certainly a risk that we’re moving into [bubble] territory but where we sit now in late-2014 is not a housing bubble,” said Hogan.
“There are some excesses forming around the Sydney market that is a very historically high level of investor activity. But this is not a broad-based bubble; outside of Sydney and Melbourne house price gains are lethargic – we’re talking 3%, 4%, 5% for the other capital cities. And the amount of leverage in the market outside of Sydney and Melbourne is quite modest,” he said.
His view is that a housing bubble must be characterised by a broad-based increase in leverage, rising prices and unsustainable speculative behaviour.
“The issue is that we have the platform to form a bubble in the next few years. We’ve seen a significant increase in prices in Sydney, in Melbourne over a number of years and there is some momentum outside of those major cities and that means that expectations for capital appreciation are starting to form,” he said.
“What we want to watch, and where we think it could become a real problem, is when we get a broader element of the community getting involved in investment property that is on a short-term speculative view. That’s where you get into problems.”
{qtube vid:=_Qt50EYF-2A}
Recently, Mirvac’s chairman John Mulcahy also expressed an opinion that the property market isn’t currently in a bubble. Instead, he pointed to lack of supply.
 “While we agree the level of activity in the sector has increased, and pricing has improved in certain geographies, we believe the primary driver of this is the fundamental undersupply of housing across the country,” said Mulcahy.
“In relation to foreign investors, we continue to see demand from offshore buyers, particularly for apartment projects located in our major cities. For the 2014 financial year, foreign buyers comprised 11% of all settlements.”
Mulcahy noted that the percentage of total investors, both foreign and domestic, versus owner occupiers, is just over half of their apartment business.
“This is at the top end of our historical band, however, we would need to see this reach much higher levels to suggest a bubble,” he said.
“Investor activity is certainly buoyed by low interest rates, a view that property is a safe investment and a more cautious outlook towards general equities. But the key driver of higher pricing is driven primarily by a lack of supply, particularly in Sydney.”
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No bubble, but there is a platform for one to develop: ANZ’s Warren Hogan

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Home owners won't lose protections and rights when new home building reforms come in, NSW Fair Trading Minister Matthew Mason-Cox has claimed.
His reassurance comes after a recent court decision in favour of Brookfield Multiplex in a case regarding commercial property. The High Court's ruled that Brookfield Mutliplex was not liable for alleged building defects in a commercial development was a complex and technical decision,
According to Mason-Cox, the owners corporation deemed not vulnerable in legal terms, with no duty of care from Brookfield Multiplex to a commercial property owners corporation.
"I have obtained legal advice from the Crown Solicitor's Office that confirms the decision does not affect the consumer protections offered by the state's home building legislation,'' Mason-Cox said.
"This case refers to the law of negligence and involved a commercial development.
"The case does not affect the separate NSW statutory scheme of a residential development.
"Consumers continue to enjoy all the protections afforded to them by home building laws, including the statutory warranty scheme. Any suggestions to the contrary are simply false.''
A number of reforms relating to home owner rights have been passed in the Home Building Amendment Act 2014.
Some claim the reforms will <a href="/expert-insights/investing/nsw-home-owners-dodgy-construction-claims-curbed-by-government">degrade consumers' rights</a> when their building is found to be defective, with a government-granted six-year warranty for "structural defects" now applicable only for "major defects".
However, Mason-Cox says the amendments "provide significant protection for consumers and offer clarity about rights and responsibilities of builder's liabilities, particularly in relation to defects".
"The Home Building Amendment Act 2014 was passed by Parliament in May and is expected to start in mid-January," said Mason-Cox.
"Under the new Act, if a strata scheme discovers a major defect up to six years after the building has been built, then they can pursue their builder under the statutory warranties in the Act to rectify that defect.
"In particular, our reforms ensure that all home owners continue to have the benefit of a six year warranty for major defects and two years for minor defects."
Fire safety and waterproofing will be considered "major elements" of a building under the changes.
"By clarifying the nature of major defects, this key reform will save owners, and owners corporations, tens of thousands of dollars in legal costs incurred in protracted litigation," claimed Mason-Cox.
"We are also introducing changes to the licensing system, making it harder for unscrupulous builders to illegally 'phoenix', which is where a failed company starts up under a new or similar name to avoid scrutiny by consumers or NSW Fair Trading."
Individuals who were once involved in companies closed by their directors to avoid their obligations will now risk having their licence applications denied or their licenses revoked.
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jrichardson-uRX5hFdKfN

Home owner rights still strong, despite building reforms: NSW Fair Trading

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Most property investors only own one property and fall into the category of middle class, according to Ed Chan, the founder of Chan &amp; Naylor Property Accountants.
"They certainly are not considered 'rich'," he said.
"In fact they should be applauded for the sacrifice to their lifestyle (due to the shortfall created by negative gearing) as they attempt to invest for their future and in so doing, reducing the government's burden in providing them an old age pension when they retire."
Chan said these investors saved the government billions of dollars by not having to provide public housing for those unable to buy their own homes currently. 
Supply is a very important factor as successive governments have not provided the policies to generate more supply in past years, said Chan.
"You may recall that the Keating government attempted to remove negative gearing in the eighties but reversed their decision when the queues for public housing doubled."
"Whilst taxpayers have claimed a total of $13 billion in losses in their tax returns the actual revenue forgone by the government is calculated at their individual tax rates. 
"Thus at an average tax rate of 35% the lost revenue is only $4.5 billion.
"So the government has not lost $13 billion dollars by allowing negative gearing but rather $4.5 billion is the actual dollars forgone.
"Public housing provided by the government only accounts for around 4% of investment properties.
"The other 96% of housing is provided by the private investor," he argued.
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jchancellor-FAypfDUnLy

Middle class sacrifice lifestyle to become property investors: Ed Chan

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There were $1.3 million plus hopes when a warehouse apartment went to weekend auction in Fitzroy.
It was within one of the former MacRobertson's Chocolate Factory premises.
The three bedroom, two level apartment sold with its price undisclosed through the Nelson Alexander agency. 
The <a href="https://www.domain.com.au/property/for-sale/house/vic/fitzroy/?adid=2011550108" target="_blank" style="line-height: 1.3em;">top-floor warehouse apartment</a> came with exposed brick walls, original windows and soaring ceilings.
The 50/183 Kerr Street property sold in 1998 at $320,000.
{qtube vid:=GEszGAugmyA}
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Fitzroy warehouse apartment offering takes the undisclosed chocolates

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GUEST OBSERVATION
Victorians will soon go to the polls to decide who will be responsible for the management of the state for the next four years. Voters are confronted with many issues on which they must pass judgement, with roads, railways and ports all prominent in the debate. But what are the key characteristics of the Victorian economy?
Economic modelling at Victoria University’s Centre of Policy Studies tells us about the types of jobs Victorians can expect to be doing over the next few years. The Victorian economy employs around 2.9 million people. In line with growth in both the population and the economy, this is set to increase by around 300,000 people by 2020.
<h3>Which industries are winning</h3>
In Victoria, as in Australia as a whole, the vast majority of jobs are in the service industries. This is a diverse group of industries including (but not limited to) retail trade, health and social assistance, professional and technical services, transport and warehousing and public administration and safety. The non-service industries – agriculture, mining, manufacturing, utilities and construction – comprise just below 23% of jobs in Victoria. For the remainder of this decade, the proportion of jobs in service industries will increase only slightly, to almost 78% of jobs by 2020.
At a more detailed level, greater change is revealed. As the construction phase of the mining boom draws to an end, employment in the construction industry will fall from its present level of 8.5% of jobs to just 7% of jobs in 2020. This partly reflects the transitory impact the mining boom has had on the construction sector. The “release” of many construction workers into the economy over the next couple of years could be a boon to major government-backed infrastructure projects.
Construction is the only sector in which employment is forecast to fall. Manufacturing, agriculture and transport and warehousing are forecast to expand, more than compensating for the fall in construction activity. These sectors have a similar skills profile to construction, employing relatively large proportions of workers with no post-school qualifications or Certificate I-IV level qualifications.
<h3>Manufacturing surprise</h3>
The positive forecast for manufacturing may seem surprising, given the high-profile announcements of closures of the last motor vehicle manufacturing plants in Victoria. Manufacturing in Victoria employs around 270,000 people, of which 10% work in the motor vehicle and parts sector.
On the whole, manufacturing is a very trade-exposed activity. Products are either exported (for example, processed food products, wine and pharmaceuticals) or they compete against imports in the domestic market (for example, textiles, pharmaceuticals, motor vehicles and various types of appliances). Because of this, movements in the exchange rate have a very significant impact on manufacturing. Throughout the “boom” years, with the exchange rate very high, manufacturing has been uncompetitive, a phenomenon known as “Dutch Disease”. Motor vehicle manufacturing has been a conspicuous casualty.
<a href="https://62e528761d0685343e1c-f3d1b99a743ffa4142d9d7f1978d9686.ssl.cf2.rackcdn.com/files/65351/area14mp/image-20141124-19612-16ii7uc.png"><img src="https://62e528761d0685343e1c-f3d1b99a743ffa4142d9d7f1978d9686.ssl.cf2.rackcdn.com/files/65351/width668/image-20141124-19612-16ii7uc.png" alt=""></a>
As the boom unwinds, the effects of Dutch Disease will also unwind. A large fall in the Australian dollar will revive the competitiveness of manufacturing, more than compensating for the loss of the motor vehicle plants. Export-oriented sectors like agriculture and education will also benefit from a fall in the Australian dollar.
The professional and technical services sector is forecast to expand the most, gaining 44,000 jobs by 2020. This sector includes activities such as legal and accounting services, architectural, engineering and technical services, and computer services.
Almost half of all people working in professional and technical services hold a bachelor degree or higher qualification. By 2020, this is estimated to have grown to 53% of people working in the sector. In Victoria as a whole, 28% of people employed hold at least a bachelor degree.
Another significant source of employment growth is the health and social assistance sector. Although only <a href="https://theconversation.com/australias-g20-growth-challenge-protecting-our-standard-of-living-33837" target="_blank">weak growth is forecast for domestic incomes</a>, leading to weak growth in domestic demand, health and social assistance is a significant expenditure item for older Australians. While the average household spends just over 5% of their budget on medical care and health expenses, households where the reference person is aged over 65 spend almost 10%. Government spending on health care will also increase as the population ages.
This article continues on the next page. Please click below.
<hr class="system-pagebreak">
<h3>State of the regions</h3>
Melbourne accounts for 75% of employment in Victoria. Two-thirds of growth in Melbourne will be concentrated in five sectors: professional and technical services, manufacturing, health and social assistance, transport and warehousing, and education and training.
Differences in the underlying structures of regional economies mean that overall performance is varied.
For example, in Barwon, an area including the regional city of Geelong, the manufacturing sector has a relatively large representation of motor vehicle manufacturing. As a result, Barwon’s manufacturing sector is forecast to grow more slowly than the state average, and Barwon is forecast to be the slowest-growing regional economy. However, for the reasons given above, growth is still positive in Barwon manufacturing.
Strong forecast growth in the agriculture sector is the main contributor to growth in several regional economies. In the Wimmera, Western Districts, the Mallee, Goulbourn, East Gippsland, Gippsland and Ovens-Murray, growth in agriculture will contribute between 20% and 50% of regional employment growth.
In the Wimmera, the Mallee and the Western Districts, the agriculture sector currently accounts for a fifth of jobs. However, the Wimmera and the Western Districts are the regions with the highest forecast growth rates, while the Mallee is one of the slowest. Although all agricultural economies, the nature of agriculture in these regions is quite different. The strongly growing agricultural activities sheep, beef, grains and dairy are well represented in the Wimmera and Western Districts. However, Mallee agriculture includes a sizable portion of fruit growing, an activity with a relatively low growth forecast.
<a href="https://62e528761d0685343e1c-f3d1b99a743ffa4142d9d7f1978d9686.ssl.cf2.rackcdn.com/files/65326/area14mp/image-20141124-19627-10m4ak0.png"><img src="https://62e528761d0685343e1c-f3d1b99a743ffa4142d9d7f1978d9686.ssl.cf2.rackcdn.com/files/65326/width668/image-20141124-19627-10m4ak0.png" alt=""></a>
Agriculture is relatively less important in the economies of the Central Highlands (including Ballarat) and Loddon (including Bendigo). While agriculture will account for around 10% of employment growth in these regions, health, education and manufacturing are forecast to be of greater significance, accounting for around 40% of growth in employment.
<img src="https://counter.theconversation.edu.au/content/33831/count.gif" alt="The Conversation" width="1" height="1">Janine Dixon is senior research fellow at <a href="https://www.vu.edu.au/" target="_blank" style="line-height: 1.3em;">Victoria University</a>.
This article was originally published on <a href="https://theconversation.com">The Conversation</a>.
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JanineDixon-cHemc6fRVX

Victoria votes: Where will the growth and jobs of the future be?

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When it comes to selling your home, there are three areas you need to consider: preparation, presentation and the marketing campaign.
The core principle when it comes to a sale or purchase of anything is, of course, that <a href="https://youtu.be/rmNpIJieUi4" target="_blank">first impressions count</a>. You achieve the best return based on a positive impression and we buy based on the perceptions that we have of the product or object.
So why do real estate agents believe selling a home, property and real estate is any different?
When thinking about selling your home and when you are contemplating how to obtain the most value in the sale, consider both the need to eliminate as many objections as possible and secondly, engage a real estate agent that understands how to prepare the home so that the first impression does count in your favour.
Not all real state agents are apt in preparing a home for sale. Unfortunately <a href="/expert-insights/agents-pull-your-heads-in-about-commissions-you-re-getting-more-not-less">their interest mostly lays in the commission alone and not in obtaining the best value for your property. </a>
The sales process is simple and it starts with the marketing campaign. However, most real estate agents are unsure how to begin. The better real estate professionals will engage stylists and other professionals to assist with the process. Preparing the home and making the first impression starts with the main aspect, the front appearance of the property. Typically what buyers see when they first approach the property.
Simple tips to take into account when preparing the front yard and front aspect of the home. These tips are straightforward; yet they render a huge difference to the home’s perceived value. I have broken the costs down based on the services I have used here in Sydney, Australia:
<ol start="1">
<li>Take care of the lawns and edges. The estimated cost may range from $50-$150 on average across Sydney. 
</li>
<li>Weed garden beds, trim the hedges and add bark. The estimated cost ranges from $200-$400 across Sydney. 
</li>
<li>Pressure clean the driveway and footpaths leading to the front door. The estimated costs may range from $200-$500 on average across Sydney. 
</li>
<li>Pressure clean the roof area visible to the front. The estimated cost ranges from, $250-$600 across Sydney.</li>
</ol>
Therefore, at an average expenditure of under a couple thousand dollars, you have just added  tens of thousands of dollars value to the home. Not only do these simple tips add value, they add character and charm in a simple way.
Our aim as agents is to engage the buyer’s emotion from the moment they view the photos and video on online property portals. This is further enhanced when they walk up to the front of the home, see colour and presentable gardens.
Be mindful that a buyer’s objections are bargaining chips to drive the price down. <a href="https://youtu.be/3-uMKHTqxik">As agents and vendors, we have to eliminate as many objections as possible</a> to maintain the value and differentiate your home from others in the area that have been badly prepared for the sales and their marketing campaigns.
It’s the simple things that matter and first impressions count.
EDWIN ALMEIDA is licensee in charge of <a href="https://www.just-thin.com.au/" target="_blank">Just Think Real Estate</a>.<a href="https://www.just-thin.com.au/"> </a>
He is also the creator of <a href="https://www.youtube.com/user/JustThinkProperty" target="_blank">Oz Real Estate.TV</a> and a presenter for <a href="https://propertyinvestingvault.com/" target="_blank">propertyinvestingvault.com</a>.
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ealmedia-arK4DBYLjS

When first impressions count, it's the simple things that matter

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Are you a vertical or horizontal analysis type?
Most would answer that they are not sure given they apply a number of metrics whilst attempting to draw a conclusion on a particular subject. Real estate is a classic example; there are so many suggested formulas that can be applied to draw a conclusion, yet there is no stand-out determination process.
I was asked this week: What is the best method within the real estate industry to better understand what exactly what is going on? I was also asked: Do I look at the markets from a vertical or horizontal position? 
The answer to that would be both. On a weekly basis I look at the stock number movements and the <a href="https://www.rwm.com.au/news/" target="_blank" title="weekly sales activity.">weekly sales activity.</a> Unlike the share market which closely watches the market capitalisation from its All Ordinaries Index, the real estate market is an entirely different beast and offers no decisive measures or methodology.
The residential and commercial investor stampede has been unprecedented in 2013 and 2014 prompting many to call this a property ‘bubble’. One should ask the question, if the ‘bubble’ theorists were investing in real estate would they still refer to this as a ‘bubble’. Of course not because they are simply commentators, not participants and there is a striking difference between the two. 
The investors are looking at the markets overall from a vertical position (which also encompasses their entire investment portfolio) whilst the commentators have adopted a horizontal position concerned only at what’s immediately before them.
To put these theories into practice one must apply what I call the <a href="https://www.abc.net.au/science/features/whyisitso/" target="_blank">Professor Julius Sumner Miller</a> analogy – “Why is it so?” Firstly, are the Australian real estate markets weaker or stronger post global financial crisis (GFC)? The answer to that is that the markets overall were much stronger pre-GFC, although for some strange reason this point is entirely missed in the debate (thanks to the horizontal observation). We need to remember that prior to the GFC, the Australian economy was basking in an unprecedented 20 plus years of economic growth.
Next, in the “why is it so?” analogy, trying to understand why the household and the investment markets bear no resemblance to what is happening in the property markets. In particular the Reserve Bank, which is actually now quite blasé with its outlook, especially when commenting on the Australian real estate markets. Why aren’t households trading-up to take full advantage of the historical low cash rates?
Look no further than the latest <a href="https://www.rba.gov.au/publications/smp/2014/nov/pdf/dom-eco-cond.pdf" target="_blank" title="Quarterly Statement on Monetary Policy ">Quarterly Statement on Monetary Policy</a>: “The forecast for output had not materially changed. GDP growth was still expected to be below trend over 2014/15, before gradually picking up to an above trend pace towards the end of 2016.”
It’s all very well to borrow more and upgrade the family home given record low rates, so what’s stopping the markets from jumping-in?
Look no further than annual wage growth, which is presently at the slowest rate on record. It’s all very well to increase the debt ratios in the present environment (horizontal analysis) but when one applies the vertical analysis there are severe headwinds ahead when rates start to rise again, which looks like 2016/2017.
The Reserve Bank pointed out in another one of their papers recently: “Nominal labour income has grown at an average annual rate of 2.7% over the past two years, compared with a decade average of 6.2%. And the widespread expectation is that wage growth will remain subdued for a time.”
Another clue is the rising rate of household borrowers who have preferred to pay back their loans via the interest-only option, which is not a positive sign for when the cash rate starts heading back to that pre-GFC thingummy called ‘normality’.
So this might go part of the way into trying to explain this thing called a ‘bubble’ – I prefer to call it a burp (due mainly to a lot of external wind).
On that basis we can expect to see the cash rate coming down further in 2015, only to (hopefully) see it start increasing late in 2015 to early-2016, as a best case scenario.  Watch annual wage growth statistics as they become available given this is an obvious trigger for increased action in the housing markets. For those on the interest-only option, you still have the best part of 12 to 18 months to strategise your best options going forward, history tells us it is not simply a case of 'who dares wins'.
So to answer (or should that be update) my preferred options when analysing the real estate markets: I am a confirmed vertical observer.
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What's the best method to understand the real estate market?

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A top floor Lakemba one bedroom apartment was the cheapest sale across metropolitan Sydney at weekend auction.
<a href="https://www.domain.com.au/property/for-sale/apartment-unit-flat/nsw/lakemba/?adid=2011538894" target="_blank">It fetched $395,500</a>.
It was marketed as Lakembs's largest one bedroom unit, given its 98 square metre size.
It came with two balconies, a renovated kitchen and a bathroom.
There was also a lockup garage.
The Knapton Property selling agents were saying it had a potential rental of $350 per week, reflecting a 4.5% yield.
It last sold at $277,000 in July 2011, reflecting 11% annual growth.
It is not the highest sale in the block of 10 as $410,000 was achieved mid-year, but that was a two bedder for tamden garage space for two garages. It sold to an investor who put it up at $410 a week.
The weekend auction top bidder was a first time buyer who will rent it out for a short time while they remain in Singapore was the apparent buyer, up against a neighbour.
Bidding went to the mid-$350,000s, with around 15 bidder parties, then it was the two bidders left to battle it out.
 
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