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“Minister Chanthivong and his team have shown real leadership in replacing an outdated two-year bond with cover that matches the lifespan of the buildings people are buying into.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

<html><body>
We’re coming close to Christmas already, with November now in full swing. Unsurprisingly, this has some in the property industry eyeing up what may happen in 2015.
Allworth Homes’ managing director Stephen Thompson has big predictions for what changes may occur.
Many of these appear to be good news for consumers and first home buyers.
Here are his six predictions:
<ol>
<li>
Competition amongst land developers will drive prices down Together with smaller lot sizes (i.e. cheaper), this should bring a swathe of new buyers to the market who would previously not considered building. 
</li>
<li>
Home designs will be small to suit a new market Clever layouts incorporating things like computer nooks and great storage will be a top priority. Separate zones for family living is still important and of course the indoor-outdoor living/kitchen/dining transition must be seamless. 
</li>
<li>
House and land packages v split contracts Whilst the market is ‘hot’, buyers will pay a premium for a package as they’re being sold the repayments as much as the house. However, plenty will still source their own land and select a contract builder – by doing this they save tens of thousands up front, not to mention long term interest repayments. When the market inevitably cools, some of the newer exclusive package builders will withdraw – most either don’t want to do contract work or are incapable. Clients can be quite demanding when it comes to spending their hard earned cash on a new home (and rightfully so) – it takes a contract builder of experience to meet their expectations. 
</li>
<li>
Land availability will be strong in 2015 There’s a lot of land coming to the market late 2014 and into 2015. A lot at affordable pricing, particularly in the Hunter and Illawarra regions. There is pent-up demand for affordable housing. Lot sizes in Sydney will me markedly smaller. In the regions where 600 square metres was the minimum the market found acceptable are looking at 450 as the norm. 
</li>
<li>
Volume home builders will be assessing some alternative materials to bricks Bricklayer availability is a serious issue we’ll have to deal with in the near future. Builders will have to assess the use of different types of material, as well as making sure it stays ‘on trend’. Stephen Thompson said, “People are warming to the idea of alternatives to brick, as long as the alternative maintains all the benefits of traditional brick veneer. Looks, insulative properties and the ‘knock test’ has to be passed. Rendered and painted requires less frequent maintenance than it once did with modern materials.” 
</li>
<li>
Multigenerational living is on the rise A lot of new home buyers are now following the trend toward ‘future-proofing’ their new home design. That is, designs that allow, with a small amount of renovation work, a former living area to be converted into sleeping accommodation with bathroom access, for example. Homes with versatile spaces that can be used in different ways and accommodate multi-generational living will continue to be in high demand in the coming years.</li>
</ol>
Source: Allworth Homes
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jduke-EHk3XBmHkn

Six home building and design trend predictions for 2015: Allworth Homes

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Paul Nugent from Wakelin Property Advisory recently sought out SongBowden Planning’s Daniel Bowden to ask how Victoria's new planning zones affect property owners.
Bowden explained that the planning process is really about outcomes, and the primary change for residential property owners and investors has been the introduction of three zones.
These are the three zones:
<ol>
<li>
Neighbourhood Residential Zone 
</li>
<li>
General Residential Zone 
</li>
<li>Residential Growth Zone</li>
</ol>
He explains that it’s best to consider them like traffic lights in terms of how development will be accepted in those areas – that is, the Neighbourhood Residential Zone is a red light, the General Residential Zone is an orange light and the Residential Growth Zone is a green light.
For those in a Neighbourhood Residential Zone, the aim is to limit change and respect character.
For the General Residential Zone it’s to develop where appropriate and have some opportunity for development that’s not too intense.
In the Residential Growth Zones it’s about looking beyond character and maximising development opportunities.
“Developers are looking for sites in these growth zones and steering away from areas where it’s suggested to not be appropriate anymore,” said Bowden.
He explained that the controls do appear to protect residents from big development from happening next door to them in the “red” areas. However, if you own property in an area promoted for development, then your expectations are going to possibly need to change as a large development may occur next to you.
You can see their full thoughts in the video below.
{qtube vid:=R3qWakcq18o}
{mijopolls 63}
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Victoria’s three planning zones and how they affect you

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Inner Perth, Brisbane and Adelaide apartments were much better performers than their middle and outer ring rivals, according to RP Data analysis provided to realestate.com.au.
In Sydney, middle ring units have the best performance over five years, with the inner 10 kilometre sales ranked second. 
In Melbourne inner and middle suburbs were a dead heat in second place as its outer ring the top performer. 
Click to open in new window: 
<a href="/images/2014/11/13/graph-nov-13-one.png" target="_blank"><img src="/images/2014/11/13/graph-nov-13-one.png" alt=""></a>
<table style="width: 460px;" border="0" cellspacing="0" cellpadding="0">
<colgroup>
<col width="85">
<col span="2" width="64">
</colgroup>
<tbody>
<tr>
<td width="85" height="20"> </td>
<td width="64"> Distance</td>
<td width="64">Five year</td>
</tr>
<tr>
<td height="20">Sydney</td>
<td>&lt;10 km</td>
<td class="xl63" align="right">36.20%</td>
</tr>
<tr>
<td height="20"> </td>
<td>10-20 km</td>
<td class="xl63" align="right">37.50%</td>
</tr>
<tr>
<td height="20"> </td>
<td>20-30 km</td>
<td class="xl63" align="right">34.80%</td>
</tr>
<tr>
<td height="20">Melbourne</td>
<td>&lt;10 km</td>
<td class="xl63" align="right">18.30%</td>
</tr>
<tr>
<td height="20"> </td>
<td>10-20 km</td>
<td class="xl63" align="right">18.30%</td>
</tr>
<tr>
<td height="20"> </td>
<td>20-30 km</td>
<td class="xl63" align="right">19.70%</td>
</tr>
<tr>
<td height="20">Perth</td>
<td>&lt;10 km</td>
<td class="xl63" align="right">21.90%</td>
</tr>
<tr>
<td height="20"> </td>
<td>10-20 km</td>
<td class="xl63" align="right">16.70%</td>
</tr>
<tr>
<td height="20"> </td>
<td>20-30 km</td>
<td class="xl63" align="right">6.00%</td>
</tr>
<tr>
<td height="20">Brisbane</td>
<td>&lt;10 km</td>
<td class="xl63" align="right">5.50%</td>
</tr>
<tr>
<td height="20"> </td>
<td>10-20 km</td>
<td class="xl63" align="right">-0.50%</td>
</tr>
<tr>
<td height="20"> </td>
<td>20-30 km</td>
<td class="xl63" align="right">0.50%</td>
</tr>
<tr>
<td height="20">Adelaide</td>
<td>&lt;10 km</td>
<td class="xl63" align="right">15.10%</td>
</tr>
<tr>
<td height="20"> </td>
<td>10-20 km</td>
<td class="xl63" align="right">10.70%</td>
</tr>
<tr>
<td height="20"> </td>
<td>20-30 km</td>
<td class="xl63" align="right">5.90%</td>
</tr>
</tbody>
</table>
Source: RP Data/realestate.com.au
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jchancellor-FAypfDUnLy

The inner ring apartment debate: Inner Perth leads the neighbouring suburbs

<html><body>
The Downs Street, Brunswick house used as surety in Tony Mokbel's controversial 2004 bail, has returned to the market after the sale of earlier this year failed to settle.
Glenn Bartlett from Woodards Carlton has the listing again, this time offered at $1.23 million, having accepted a pre-auction offer above the $1.1 million that was being publicly sought before February's auction.
The <a href="https://www.woodards.com.au/index.cfm?pagecall=property&amp;propertyid=2734196" target="_blank">empty double-storey house</a><a href="https://www.woodards.com.au/index.cfm?pagecall=property&amp;propertyid=2581524" target="_blank" style="line-height: 1.3em;"> </a>sits on 500 square metres, but unlike its portrayal on the Channel 9 mini-series Underbelly and Fat Tony &amp; Co, is of modern dimensions not boom Italianiate.
The previous marketing made cryptic mention of its status when noting the "impressive size and scale are the hallmark of this imposing family home, made even more memorable for its role in Melbourne's contemporary history".
It has a 13 metre x 33 metre <a href="https://www.woodards.com.au/index.cfm?pagecall=property&amp;propertyid=2581908" target="_blank">block next door</a> currently used for pool and garden. They sold last for $850,000 and $550,000 in 2010.
{yoogallery src=[images/stories/2014/02/27/brun2]}
Property Observer understands Mockel paid $200,000 in 1999 after paying $160,000 next door in 1996 for the larger home.
Ownership of the property was transferred to the Attorney-General of Victoria in late 2009, under the Confiscation Act 1997.
It was the site of a clandestine drug lab which was revealed after it caught fire and exploded. Crime writer John Silvester wrote that following its February 1997 fire, detectives ascertained the lab had produced 41 kilograms of pure methylamphetamine with a street value of $78 million.
He wrote that detectives believed the Downs Street lab helped Mokbel progress from a mid-level drug trafficker to the biggest in Australia over the 1990s.
While Mokbel was not arrested over the drug lab, his friend Paul Howden was badly burnt, charged and later sentenced to four years in jail.
The property was surety when securing his bail in 2004.
It emerged the property was part of a family trust, JR Mokbel Pty Ltd, an ownership structure which hampered efforts to sell the property after Tony Mokbel fled.
After his return from Greece, Mokbel was jailed for 30 years, with a minimum of 22 years, in 2012 over his international drug business. The judge described him as "intelligent and a cunning person".
While on the run in Athens in 2007, Tony instructed his associates to look after his late mother, Lora, who was living in the family's Brunswick home.
Lora Mokbel raised her four sons after her husband Sajih's death in 1980 when Tony was 15. The family had migrated from Lebanon in 1974.
</body></html>

Crime boss Tony Mokbel's former Brunswick house back for sale

<html><body>
The Rose Bay property that was once headquarters of Jodhi Meares fashion label has been sold at Cooley auction.
It was originally a barn for the Rose Bay dairy­.
The four-bedroom, four-bathroom residence and office space at <a href="https://www.theagencyco.com/1807401/" target="_blank">5 Roberts Street</a> been listed with Daniel Baran and Reece Coleman at The Agency.
The first-floor features a large open plan living and dining area, kitchen with 5 metre-long stainless steel benchtop, indoor fish pond and ornate Balinese timber doors.
In 2006 its ground floor was transformed from a 16-car garage to modern offices with boardroom.
It was bought by the Otton family in 2006 for $2.35 million.
It had price expectations around $3.5 million.
No price has been revealed for the registered bidder only auction.
</body></html>

Rose Bay warehouse style offering snapped up

<html><body>
How is this allowed to happen? For months now, I’ve been sharing with Property Observer some of the conditions I’ve personally seen tenants have to endure. Things haven’t changed much in this time.
While we asked before “Are your tenants living in squalor?” and aimed it towards the investors who own the property themselves, it’s time for the real estate agents to get off their high horses.
Stop blaming the owners, stop blaming the tenants, you are just as responsible.
I was asked to attend a property inspection as a potential vendor had asked me to look at placing his property on the market. The slideshow above is what I encountered.
You can see leaking ceilings and mould on walls throughout the unit. Not only that, but mould and fungus growing in the kitchen cupboards and toilet floors and walls. The windows are unable to be opened due to fungus and a build-up of dirt along the tracks. You can even see the rising damp on most walls!
To be downright honest and frank with you, it makes my blood boil. There was a child living in this unit, as well as an elderly person.
I asked myself: how did it become possible for the dwelling to reach this state? 
And no, it’s not self-managed. This property is managed by a brand name agency in the area.
I showed the owner the photos and gave him a quick report on the condition. I say quick as I could not spend anything more than five minutes in the unit due to the odour and the pungent smell of the mould.
I also asked the vendor if he had received any mid-term inspection reports from the managing agent, if they had been invited to attend the inspections and why the tenants had been allowed to live like this. Much could be gathered from the silence and the shake of the head in disbelief as he ran his eyes over the photos.
My straight to the point recommendations were these:
<ul>
<li>Sack the property manager</li>
<li>Take the property manager to tribunal and recover all management fees charged</li>
</ul>
Quite frankly, they have not performed their job accordingly over the four years or so that they had managed this property.
When will landlords and property management teams take matters more seriously? Oh yeah, I forgot, it’s not their fault if the tenants choose to live like this. It’s ridiculous.
I believe that if periodic inspections actually took place and reports were not doctored, landlords would take their business to management teams that place value and care on the landlord’s property as well as the tenant’s living conditions.
It is true that property management is an underpaid job in the most part, but if you take on the responsibility then you have a duty to provide the service. Alternatively, you can simply get out if you’re not going to do anything other than collect rent and charge fees.
YOU MAY ALSO LIKE TO READ:
<a href="/expert-insights/investing/is-your-tenant-living-in-squalor-this-video-is-hard-to-watch">Is your tenant living in squalor? This video is hard to watch</a>
<a href="/expert-insights/investing/property-management-is-your-tenant-living-in-squalor">Property management: Is your tenant living in squalor?</a>
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ealmedia-arK4DBYLjS

Property managers, you are equally to blame if tenants are living in squalor

<html><body>
GUEST OBSERVATION
The Australian television satire <a href="https://www.abc.net.au/tv/programs/utopia/" target="_blank">Utopia</a> invited the public along for a laugh that architects and planners have been sharing for decades. We laugh at the idea of utopia to disassociate ourselves from the disasters brought on by utopian visions.
Le Corbusier’s is perhaps the most famous. He dreamt of people living in racks of council flats rather than old building stock on the ground.
The only architects who have not gotten too savvy to dream of utopias are men in their 90s who missed the change in public opinion.
<a href="https://www.thevenusproject.com/" target="_blank">Jacque Fresco</a> hopes one day that machines will build mega-structures while we humans relax. Paolo Soleri’s hyper-dense prototype, <a href="https://arcosanti.org/" target="_blank">Arcosanti</a>, remains permanently stalled with 97% of the work incomplete.
These examples are goofy-faced totems for a demon that we actually fear. Serious architectural writers bring up examples like Albert Speer’s plan for Berlin and concentration camps.
Karl Popper cemented the association between utopianism and totalitarianism. Writing <a href="https://en.wikipedia.org/wiki/The_Poverty_of_Historicism" target="_blank">in 1957</a> after making a name for himself as a critic of Marxist epistemology, he said social engineering (especially of the Marxist variety) was despotic, delusional and — you guessed it – utopian. The word has had Orwellian overtones ever since.
Our urban landscapes have utopian pedigrees
That’s fair enough if we’re talking about religious or ideological utopian visions. Urban planning is different. It depends on utopian visions as touchstones. Urban planners need to be granted a unique dispensation and allowed to talk in utopian strains.
One reason was explained by architectural writers <a href="https://books.google.com.au/books/about/Concepts_of_urban_design?id=JKU2AQAAIAAJ&amp;amp;redir_esc=y" target="_blank">David Gosling and Barry Maitland</a>. While acknowledging Popper’s concerns, they argued that utopian visions in urban design are catalytic – never mind the handful of fools who treat them as prescriptions. Utopian visions bring clarity to real-world debates, they argued, “by postulating alternative hypotheses in a pure and crystalline form".
Another theorist, <a href="https://books.google.com.au/books/about/The_Rule_and_the_Model?id=cUlQAAAAMAAJ&amp;amp;redir_esc=y" target="_blank">Françoise Choay</a>, argues the enterprise we call urbanism would not exist without utopian models. All urban theories, she says, have been indelibly stamped by past utopian models.
Surely that can’t be true of urban theories today, when architects and urban planners laugh at a show called Utopia? It is undeniably true. Current urban theories have utopian pedigrees, some now 100 years old.
<img src="https://62e528761d0685343e1c-f3d1b99a743ffa4142d9d7f1978d9686.ssl.cf2.rackcdn.com/files/62809/width237/m24c8x7p-1414374134.jpg" alt="">
We see the mark of Ebenezer Howard’s utopian <a class="source" href="https://en.wikipedia.org/wiki/Garden_city_movement" rel="nofollow">Wikimedia Commons</a>
Take the principle of consolidating development within walking distance of train stations: it has been indelibly stamped by Ebeneza Howard’s <a href="https://en.wikipedia.org/wiki/Ebenezer_Howard#mediaviewer/File:Garden_City_Concept_by_Howard.jpg" target="_blank">circular diagram</a> for transit-based <a href="https://en.wikipedia.org/wiki/Garden_city_movement" target="_blank">“garden cities”</a>.
Less flatteringly, our permissiveness of ongoing sprawl betrays the indelible stamp of Frank Lloyd Wright’s <a href="https://en.wikipedia.org/wiki/Broadacre_City#mediaviewer/File:Wright_Sketches_for_Broadacre_City.jpg" target="_blank">Broadacre City</a>. Wright thought the natural outworking of personal mobility machines (cars) was that every person should get enough land of their own to pretend they are farmers.
Most embarrassing of all are our inner-city apartments. Built over batteries of multi-storey car parking, and beside roads that look like great venues for Formula One racing, most bear the indelible stamp of the General Motors <a href="https://www.1939nyworldsfair.com/worlds_fair/wf_tour/zone-6/general_motors.htm" target="_blank">“Highways and Horizons”</a> pavilion with its Futurama exhibition at the 1939 World’s Fair in New York.
Rarely these days are utopian visions rolled out all at once. They are more typically in the background, like the rules of a game, informing piecemeal implementation.
Many of us will have had firsthand experience with one, the Broadacre game, if ever we have built a house on a large block of land. We would have asked ourselves how the car could be parked between the kitchen and road, and what travel times (never mind distances) that road could promise to roadside amenities.
Velotopia: a new vision
<a href="https://62e528761d0685343e1c-f3d1b99a743ffa4142d9d7f1978d9686.ssl.cf2.rackcdn.com/files/62921/area14mp/ynyj89x5-1414450200.png"><img src="https://62e528761d0685343e1c-f3d1b99a743ffa4142d9d7f1978d9686.ssl.cf2.rackcdn.com/files/62921/width668/ynyj89x5-1414450200.png" alt=""></a>
<a class="source" href="https://cycle-space.com" rel="nofollow">Author/Cycle Space</a>, Author provided
As two authors who choose to rely on our bikes for most of our transport, it bothers us that the rules of our game are not well understood. When we choose where to live, shop, work or send our children to school, we don’t care so much about walking distances, the frequency of public transport or congestion on roads. We want to know where the cycleways are.
Cycleways tend to follow historic rail easements and waterways. This means that as cyclists our cognitive maps of most cities are dominated by the flatlands on the wrong side of the tracks that these cycleways often pass through. Ironically, it is often these very flatlands that, in time, become the new sites for <a href="https://observer.com/2014/06/that-zaha-moment-new-york-finally-gets-the-avant-garde-buildings-it-deserves/" target="_blank">“starchitect” development</a>.
We want to offer a new utopian dream. It is not borne of signature buildings but rather built on a bicycle-oriented lifestyle and informed by a utopian dream we call Velotopia.
In its crystalline form, Velotopia uses pedal power for virtually everything, even <a href="https://www.trisled.com.au/maxi-taxi.asp" target="_blank">taxis</a> and <a href="https://federation.cyclelogistics.eu/" target="_blank">freight</a> — a trend in European town centres already. In this utopia, cyclists cover 10-kilometre trips in 30 minutes of safe and social bliss. There to meet them at both ends are secure and convenient bike-parking facilities inside most buildings; our bikes are as welcome as wheelchairs or prams.
We’re not asking that the rules of our game obliterate those of car lovers, walkers or <a href="https://www.tarasgrescoe.com/straphanger/about" target="_blank">straphangers</a>. We’re simply following the conventions of our disciplines to imagine that our cities could accommodate an extra utopian dream, one that creates a safe cycling space. Put like that, it is a remarkably simple and profoundly utilitarian ask.
Our work is to bring Velotopia into plain view, as a catalytic vision. Some of our ideas for bike-access building types and ground planes designed to prioritise cycling will be on display in the Queensland Museum in Brisbane from November 28, 2014, to June 2015, as part of the National Museum of Australia’s Freewheeling exhibition. In late November we will meet policymakers in Brisbane to explore the principles of Velotopia as a catalyst for bicycle-orientated development.
As Velotopia becomes visible, we envisage a safer and more enjoyable cycling space, which can take its place among other utopias that influence the structure and spaces of our cities.
<img src="https://counter.theconversation.edu.au/content/33358/count.gif" alt="The Conversation" width="1" height="1">Steven Fleming is senior lecturer, School of Architecture &amp; Design at University of Tasmania. Steven is a member of the Reference &amp; Experts Panel of the Australian Cyclists Party.
Angelina Russo is professor of cultural practice at University of Canberra. Angelina has received funding from the Australia Research Council. She is an invited member of the Reference &amp; Expert Panel of the newly formed Australian Cyclist Party.
This article was originally published on <a href="https://theconversation.com">The Conversation</a>. Read the <a href="https://theconversation.com/utopia-seriously-good-urban-planning-should-aspire-to-it-33358">original article</a>.
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po-LsXgBTHBmX

Utopia: seriously, good urban planning should aspire to it

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We've all marvelled at the amount of information on the internet and the speed with which we can compare available products.
Nowhere has this access to information been better exploited than in financial services, where you can use websites to make cheap share trades, find the best priced mortgage and get travel insurance that saves you heaps.
But although e-commerce is now normal, Australians still distinguish between low cost convenience transactions, and high value strategic decisions. For most people there's still a divide between the ease of technology and the need for advice.
But how do you decide whether to buy online or use a broker or adviser?
One criterion might be size and importance.
Australians can search for mortgages online and apply over the phone. However, the Mortgage and Finance Association of Australia has found that of the growth in the mortgage market in the year to June 2014, 61% was driven by brokers. That was a 32% increase on the 2013 figure. Clearly, Australians like interaction with an expert when they take on their biggest debt.
The opposite is the case when applying for credit cards and operating bank accounts. For these transactional interactions we're comfortable to use the internet and call centres to administer our daily banking.
Consumers also transact directly online with their super and their share portfolios. This seems to work best with users who have good knowledge of the options and understand the choices.
Insurance is another matter. If you've been insuring your car for years, a quick price comparison on the internet can prepare you for buying more insurance over the phone or online at renewal time.
However, many insurances are strategic parts of life planning, and they need expert advice.
Even simple insurance such as home and contents has to be managed so you're never underinsured, and you aren't paying for things you don't need and being excluded from the cover you do need.
More than half of retail insurance premiums are written by advisers and brokers, probably because Australians think about insurance once a year and they need someone who thinks about it every day.
The advantage you get with an adviser is obvious in life insurances which include death cover, total permanent disablement (TPD), trauma and income protection. You can buy tax-friendly life policies in your super fund. But when you use an independent adviser, you can buy cover for your circumstances, with tailored inclusions and exclusions.
Life insurance issuers rarely have more than one top product line and premium at a time, with deals changing to showcase different products. Some insurers are strong in some occupations. An independent adviser knows this. Luckily, it isn't a choice between the internet or advice. The trick is to use both, according to their strengths and your needs. What do you favour? Internet or advice? I'd love to hear what you think.
Mark Bouris is executive chairman of wealth management company <a href="https://www.ybr.com.au" target="_blank">Yellow Brick Road</a>, which sells financial advice and home loans.
You can contact Mark on <a href="https://www.twitter.com/markbouris">Twitter</a>.
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Should you get your mortgage online or use a broker?

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A media release this week was positively gushing in its eulogy of the Brisbane inner city apartment market. Sales are surging, it said, and the level of new construction in the pipeline was a cause for celebration. The market, apparently, “continues to shine”.
From where I’m sitting, sales are not surging and the new construction – 14 new projects with 1,400 apartments were launched in the June quarter alone - will make worse an existing oversupply.
The thing is, the people building, promoting and selling apartments are concerned only about finding buyers. They’re not interested in the broader consequences of the projects that are earning them money.
If the apartments in the current project sell, they pocket the profits and commissions, and move on to the next one.
Others have to deal with the carnage created by their projects. And there will be repercussions from the overbuilding of apartments in Brisbane.
The situation in the Brisbane inner city market is not (yet) as serious as that in Melbourne, where the existing oversupply is serious and the future oversupply will border on catastrophic.
But Brisbane is heading down the same slippery slope to surplus as Melbourne.
In Brisbane, as in Melbourne, Sydney, the Gold Coast and other major unit markets, the inspiration for the high level of new building is the Chinese investment market. Everyone is targeting Chinese investors.
Developers and their marketing stooges don’t care about the vacancy rate figures. That’s someone else’s problem. If they can flog their apartments to Asian buyers, nothing else needs to be considered.
The people who will feel the most pain in the future will be the investor buyers. High vacancies will push down rents and the returns they will earn from their investment. That in turn will undermine values.
Others will suffer. Owners of existing properties in or near the inner city will also find it hard to tenant their properties and will have to cut rents. Their values will fall also. Home owners in those areas will be equally affected by falling values.
Overbuilding is a constant and recurrent problem in inner city apartment markets. It’s the reason capital growth rates have been so poor in Brisbane.
The average annual rise in the median unit price in the Brisbane CBD has been around 3% per year over the past five years and also the past 10 years. In real terms, capital growth has been negligible at best.
Suburbs just outside the CBD, including Kangaroo Point, Fortitude Valley and South Brisbane, have similar track records.
This week’s media release claims sales are now “surging” in the Brisbane inner city apartment market. Not according to the sales data I’m seeing. Sales levels did rise last year, with every quarter producing an increase in sales volumes. But the market peaked in the December 2013 quarter and sales activity has declined in 2014.
That probably explains why there has been little price growth in evidence recently. According to Australian Property Monitors data, there was no change to median prices in the CBD and Woolloongabba in the most recent quarter, a rise of about 1% in Fortitude Valley and South Brisbane, and a 4% decrease in Kangaroo Point.
The real issue is that the Brisbane inner city areas already have too many apartments. The CBD and the near city suburbs all have vacancy rates in the 3.5% to 4.5% range. Those vacancy levels would not cause undue concern, except that massive levels of new supply are in the pipeline.
The writer of this week’s media release was clearly excited about the new projects coming up. It scoffed as the “predictable murmurings” about oversupply. But the concerns are real and well-placed. Dozens of new highrise apartment buildings are under construction or in planning, bringing thousands of new units to an oversupplied market.
There’s been a lot of media about the potential for prices to fall because of a “bubble”. There is no bubble in Australian property prices but there is a real threat of value decline in many major markets caused by developer overbuilding.
We’ve seen many times in the recent past how much damage oversupply can do and how much angst it can cause to property owners, including both investors and home owners, when values fall.
The Gold Coast has just emerged from years of falling property values - many people own properties worth less than they paid four or five years ago. The median unit price in Surfers Paradise is still lower than it was in 2009.
Owners of property in Gladstone have suffered double-digit value losses, not because of a decline in demand but because of absurd levels of overbuilding by developers. What were they thinking?
Where overbuilding has coincided with a sharp drop in demand because of a pause in the resources sector, values have dropped as much as 40% from their peak levels, including in Karratha in Western Australia and Moranbah in Queensland.
Inner city apartment markets, including those in Brisbane, face the same risk.
I’m not sure what the solution is, with councils and state governments eager to approve anything that’s proposed and trumpet the outcomes as a construction boom benefiting everyone. Until Chinese investors realise they’re being sold over-priced apartments for which there is little or no tenancy demand, developers will continue throwing up high-rise in inner Brisbane and elsewhere.
The outcome, in some places at least, will be a market crash that will be ugly to behold.
I’m urging investors and owner-occupiers to stay well away from these markets.
You can contact Terry via <a href="https://mailto:ryder@hotspotting.com.au" target="_blank">email</a> or <a href="https://twitter.com/hotspotting" target="_blank">Twitter</a>. 
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terryryder-YECXbqmri2

Brisbane on the slippery slope to oversupply

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Westpac Banking Corporation has announced its chief executive Gail Kelly was retiring from the bank after six years at the helm.
She will be succeeded by Australian financial services chief executive Brian Hartzer from February 1, 2015. Hartzer’s division included Westpac’s retail and business bank, St George Bank and BT Financial Group.
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Brian Hartzer, aged 47, has more than 25 years in financial services, having started his career at First Manhattan Consulting Group in New York.
In 1994, he first moved to Australia to work on a variety of strategic projects for ANZ, returning to San Francisco with First Manhattan in 1997, before moving back to Australia in 1999 to join ANZ full time as Managing Director of the Group's Consumer Finance Division, which included the Bank's credit card, merchant services and personal loan businesses.
Mrs Kelly was the first female chief executive of one of Australia’s big four banks.
“Gail is one of Australia’s most successful CEOs. She was appointed as the global financial crisis was unfolding and her leadership and dedication has seen Westpac emerge a stronger and better company,” Westpac chairman Lindsay Maxsted said.
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“During her tenure the value of the company has more than doubled, with market capitalisation increasing from just under $50 billion to around $104 billion,” he said in a statement to the Australian stock exchange.
The two prime candidates who were in the running to replace Kelly were Brian Hartzer and the head of the institutional bank, Rob Whitfield.
Rumours started last month with Ross Greenwood's 2BG's Money News among those who sensed Kelly was soon to depart.
Last financial year she ranked as the highest-paid boss of a retail bank in Australia, taking home $12.8 million. 
Before joining Westpac in 2012, Brian Hartzer worked as chief executive of UK retail for the Royal Bank of Scotland as well as senior roles at ANZ.
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Brian Hartzer grew up in Connecticut, USA , but is an Australian citizen. 
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“I am very proud of how we tackled the stresses and challenges of the Global Financial Crisis, supporting our customers while at the same time materially strengthening our balance sheet," Gail Kelly said today.
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"I am also very pleased with our successful merger with St.George. 
"We now have a strong set of customer-centred brands, all performing well and setting us apart from our competitors. 
"Most of all, I am proud of our people and the way they support our customers, each other and the community, every day. 
“As our recent results show, the Westpac Group is very well positioned with strong momentum and a high quality team. 
"This is an excellent time to hand the reins to our next CEO, who will take the Group through to our bicentennial celebrations and beyond," Mrs Kelly said.
 
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