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“Minister Chanthivong and his team have shown real leadership in replacing an outdated two-year bond with cover that matches the lifespan of the buildings people are buying into.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

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GUEST OBSERVATION
Last month, Canadian-American architect <a href="https://en.wikipedia.org/wiki/Frank_Gehry" target="_blank">Frank Gehry</a> <a href="https://www.theguardian.com/artanddesign/2014/oct/24/frank-gehry-journalist-finger-architecture-shit" target="_blank">delivered</a> a defiant middle finger to a Spanish journalist who asked if his designs were “just about spectacle”.
It’s a criticism that has dogged Gehry and his iconic buildings – that they are more sculpture than architecture, that they are “logotecture” perfect for branding purposes.
In Spain, Gehry was adamant: "In this world we are living in, 98% of everything that is built and designed today is pure shit."
So will the new $180 million <a href="https://www.uts.edu.au/partners-and-community/initiatives/city-campus-master-plan/projects-progress/dr-chau-chak-wing" target="_blank">Dr Chau Chak Wing Building</a> at the University of Technology Sydney (UTS), become a cultural icon putting UTS on the world map of tertiary institutions? Or will it instead foist another eyesore on Sydney to rival its brutalist <a href="https://en.wikipedia.org/wiki/UTS_Tower" target="_blank">UTS Tower</a>?
<a href="https://62e528761d0685343e1c-f3d1b99a743ffa4142d9d7f1978d9686.ssl.cf2.rackcdn.com/files/63926/area14mp/bbv8dtmd-1415333229.jpg"><img src="https://62e528761d0685343e1c-f3d1b99a743ffa4142d9d7f1978d9686.ssl.cf2.rackcdn.com/files/63926/width668/bbv8dtmd-1415333229.jpg" alt=""></a>
A model of architect Frank Gehry’s Dr Chau Chak Wing Building at the University of Technology building in Sydney. AAP/Gehry Partners, LLP
Iconic buildings are <a href="https://theconversation.com/australia-has-more-soft-power-than-ever-but-can-we-keep-it-20698" target="_blank">recognised</a> cultural indicators of <a href="https://theconversation.com/australia-has-more-soft-power-than-ever-but-can-we-keep-it-20698" target="_blank">soft power</a>. Every one of his clients is after the Gehry-icon effect. But with any Gehry building that’s pushed the limits comes controversy.
Back in 2012, columnist Mike Carlton dubbed it “a rain-sodden clump of cardboard cartons left out for a council clean-up”. Germaine Greer basically <a href="https://www.theguardian.com/artanddesign/2011/jan/09/germaine-greer-frank-gehry-uts" target="_blank">called it</a> an insult to the colonial buildings which apparently inspired it.
Only recently Fairfax critic Elizabeth Farrelly <a href="https://www.canberratimes.com.au/comment/frank-gehrys-uts-building-is-no-opera-house-20140709-zt144" target="_blank">said</a> it was “bad Gaudi”.
But the “brown paper bag” is the Pritzker prize-winning Gehry’s first building in Australia and with the “starchitect” status come great expectations.
Professor <a href="https://theconversation.com/profiles/roy-green-3866" target="_blank">Roy Green</a>, Dean of the UTS Business School, set the bar high when he told the Sydney Morning Herald it would be “the second most iconic" building in Australia.
The then UTS Vice Chancellor Ross Milbourne went <a href="https://www.theepochtimes.com/n2/australia/gehry-building-to-rival-opera-house-37494" target="_blank">even further</a>: "We’ve got the Opera House, and it’s hard to say we are going to beat that, but from what I’ve seen we’ll have an equally outstanding icon at this end of Sydney."
Only weeks before Gehry’s appearance in Spain, he launched <a href="https://www.fondationlouisvuitton.fr/" target="_blank">Fondation Louis Vuitton</a>, a new art museum in Paris commissioned by the billionaire head of the luxury brand LVMH, Bernard Arnault.
It sits in a park of the Bois de Boulogne, its twisting, gigantic glass sails eliciting mixed reviews: from “<a href="https://www.architecturaldigest.com/architecture/2014-10/frank-gehry-fondation-louis-vuitton-arts-center-article" target="_blank">masterful</a>” and a “radiant tour de force” to “<a href="http:/mg.co.za/print2014-10-24-frank-gehrys-architecture-of-over-indulgence" target="_blank">architecture of over-indulgence</a>” and “<a href="https://www.theguardian.com/artanddesign/2014/oct/21/frank-gehry-fondation-louis-vuitton-shows-he-doesn%E2%80%99t-know-when-to-stop" target="_blank">he doesn’t know when to stop</a>”.
The 85-year-old Gehry has no intention of stopping.
<a href="https://www.vanityfair.com/culture/features/2010/08/architecture-survey-201008" target="_blank">Anointed</a> “the greatest architect we have today” by the late godfather of modern architecture Philip Johnson, he is busier than ever, with his first London project – the futuristic <a href="https://www.archdaily.com/554700/new-images-released-of-foster-and-gehry-s-battersea-power-station-designs" target="_blank">Battersea power station apartments</a> to Germany’s tallest residential tower in Berlin, the new Facebook headquarters and other projects from Abu Dhabi to Venezuela.
Article continues on the next page. Please click below.
<hr class="system-pagebreak">
It all began back in the 80s when the obscure industrial town of Bilbao proposed building a <a href="https://www.guggenheim.org/bilbao" target="_blank">Guggenheim museum</a> and giving Frank Gehry free reign.
As Frank Gehry <a href="https://newsroom.uts.edu.au/news/2011/02/frank-gehry-in-conversation">told</a> a public meeting at UTS in 2011, what they really wanted was an architectural icon that would pay dividends.
"They asked for the Sydney Opera House, they said they wanted it and the Minister of Commerce and the President of the Basque region said it was a business decision and they wanted to achieve what the Sydney Opera House achieved."
He delivered a titanium surrealist structure that shocked the locals:
"In Bilbao they wanted to kill me – in the paper they said kill the American. I was worried. I thought they meant it."
According to Johnson, Guggenheim Bilbao “is the greatest building of our time”.
<a href="https://62e528761d0685343e1c-f3d1b99a743ffa4142d9d7f1978d9686.ssl.cf2.rackcdn.com/files/63928/area14mp/hqn5dsmc-1415333822.jpg"><img src="https://62e528761d0685343e1c-f3d1b99a743ffa4142d9d7f1978d9686.ssl.cf2.rackcdn.com/files/63928/width668/hqn5dsmc-1415333822.jpg" alt=""></a>
Guggenheim Museum Bilbao. Wikimedia Commons
In the lead up to its official launch with Frank Gehry in February, UTS has been hosting VIP tours showcasing its jewel in the crown.
I was on the same tour as Don Bianchino of <a href="https://bianchinoassociates.com.au/" target="_blank">Bianchino &amp; Associates</a>, a Sydney-based architectural and design firm. The building, he told me, was “better in the flesh”:
"I think at the end it will be a breath of fresh air. I don’t think I could personally describe this building as a refined elegant building; it’s quite crude in some ways, but that’s what makes it iconic or will be iconic I think."
At a cost of $180 million it averages at about $9,780 a square metre. Bianchino says you can build a good quality commercial building for around $6,000 and a residential one for about $3,000 per square metre. He thinks this is the sort of building only an academic institution can afford.
<a href="https://62e528761d0685343e1c-f3d1b99a743ffa4142d9d7f1978d9686.ssl.cf2.rackcdn.com/files/63930/area14mp/pcd7w6mf-1415334198.png"><img src="https://62e528761d0685343e1c-f3d1b99a743ffa4142d9d7f1978d9686.ssl.cf2.rackcdn.com/files/63930/width668/pcd7w6mf-1415334198.png" alt=""></a>
Gehry’s Dr Chau Chak Wing Building in Sydney, under construction. Author
In an interview commissioned three years ago by UTS for their archives, Gehry said most of the buildings that business occupies are counterproductive to the results they demand.
"The building is a straight-jacket. Most commercial buildings are pro forma; in my experience there has been a fear of exploring the unknown and risk … but (this) leads to banal buildings you see all over the world since the war and can pick them out, the same version ad nausem."
The link between the built environment and performance is a growing area of research by architects and neuroscientists.
This year’s <a href="https://www.anfarch.org/news/nobel-prize-research-previewed-at-anfa-2014/" target="_blank">Nobel Prize in Physiology and Medicine</a> was shared by researchers who discovered cells that constitute a positioning system in the brain, an important bridge between the two disciplines.
Perhaps Frank Gehry knows something the rest of us don’t.
At one point in the VIP tour “Frank’s fingerprint” is pointed out, a Dr Seuss-like sharp curve in the brickwork where Gehry pinched the model to get it just right.
Whatever future generations might think of the building, Don Bianchino says:
"I think the engineering and the build-ability of the design is something that we marvel at – how the hell did they do this?"
<img src="https://counter.theconversation.edu.au/content/30364/count.gif" alt="The Conversation" width="1" height="1">Helen Vatsikopoulos is a lecturer in journalism at <a href="https://www.uts.edu.au/" target="_blank">University of Technology, Sydney</a>.
Helen worked at both SBS and ABC 1 and the Australia Network for 26 years as a reporter, producer, presenter and won the Walkley Award for Best International Report 1992.  
She is currently making a documentary on the Dr Chau Chak Wing building for the ABC and BBC with Essential Media.
This article was originally published on <a href="https://theconversation.com" target="_blank">The Conversation</a>.
Feature photo: Andrew Worssam
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po-LsXgBTHBmX

Iconic building alert: Waiting for the Frank Gehry effect in Sydney

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GUEST OBSERVATION
The Sydney market shows no signs of slowing down with vendors and buyers showing equal enthusiasm in the nation’s largest property market. Despite the increase in numbers of would-be vendors rushing to schedule a pre-Christmas auction, we are seeing a consistently high clearance rate week after week.
Notwithstanding one weekend failing to reach the magic 80% clearance rate, October continued with some strong individual results across all pockets of the city. Given these strong results it should also be largely unsurprising that the variance between real estate agents’ price guides and the eventual sales prices also remains significant with the trend of underquoting appearing to continue unabated. 
Intelligent Property Services (IPS) has reported for several months now on the consistent manner with which prospective buyers are being drawn to properties with enticingly low price guides and October has been no different.
With 32 auctions monitored the stats show an average variance of some 14.34%. Irrespective of the broad geographic spread in this month’s sample (Mosman to Canterbury) there were fairly similar results across the board. While slightly less than last month (we reported a 15.4% variance for September) some results simply demonstrate the depth of pent up demand across the Sydney market.
Whilst others may well simply suggest some creative price guides set by certain selling agents. One property that demonstrates this epidemic can be seen at 7/2-6 Patrick Street, North Willoughby. Despite a comparable unit selling in the block in 2013 for $860,000 it was listed with a price guide of $750,000, which was then revised to $790,000. With an eventual sale price of $980,000 – 19% variance on the agent’s original guide – it’s little wonder that buyers continue to experience frustration at every turn during their property search.
We suspect there’s no easy solution to this. Whilst Queensland may have banned the publication of auction price guides and some in NSW are calling for auction reserve prices to be published prior to auction in order to provide a more transparent process, we’re quite sure that Sydney buyers would welcome a bit more pricing accuracy from the very same sales agents who openly advertise the fact they’re the area “experts”.
Click to open in new window:
<a href="/images/2014/11/12/ramon-nov-12-one.jpg" target="_blank"><img src="/images/2014/11/12/ramon-nov-12-one.jpg" alt=""></a> 
In September we noted it should come as little surprise that the level of underquoting by sales agents has continued into the busy spring selling season. 
The results are fairly consistent from last month’s findings. In August IPS reported that the average variance between the quoted price and sales price at auction was 17.6%. For September 2014 we have monitored a total of 27 sales and found agents are underestimating their properties by an average of 15.14%. 
As always buyers need to factor this into their thinking and, ultimately, conduct their own research as to the likely market value of any property being considered for purchase. We see no particular trend from suburb to suburb (with auctions from Millers Point to Earlwood monitored) and sales agencies, both big and small, are all guilty – inadvertently or by design – of providing enticingly low price guides to prospective buyers. 
The biggest variation recorded this month was 42% under for a run-down warehouse at 164-166 Wilson Street, Newtown in Sydney’s inner west. Even towards the tail end of the sales campaign a price guide of $1 million plus was being given despite the property selling for $1,725,000.
Another prime example of unfairly building up buyers’ expectations was at 7/40 Terrace Road, Dulwich Hill. The price guide of “$420,000 plus” for a renovated two bedroom, one bathroom, one car strata apartment in popular Dulwich Hill was always going to attract the crowds. More than 92 people attended the first open house on Saturday and, by Tuesday the agent had received between 15 and 20 written offers from hopeful buyers. Current interest is reported to be around $530,000, which is more than 26% above the original guide.
It just goes to show, unfortunately for buyers, that this experience is not limited to the auction process alone.
With pent up buyer demand increasing off the back of abnormally low spring stock volumes, we expect this practice will continue to frustrate and confuse buyers making the entire buying process all the more challenging.
Ramon Mitchell is the general manager of <a href="https://www.ipsg.com.au" target="_blank">Intelligent Property Services</a>, a specialist residential property advisory firm with buyers advocacy division.
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RamonMitchell-pSgrKyb4ZZ

Add 14% to Sydney spring auction price guidance: Intelligent Property Services

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If you’re familiar with the Perth property market, you’d be aware that the ‘spring selling season’ is considered the most active selling period of the year. 
However this isn’t entirely accurate.
While it’s true there is generally a surge of activity during spring, there is a misconception that September is the start of the boom period, when in fact data suggests sales don’t pick up until October.
Closer analysis of the spring selling season indicates that September is actually the Achilles heel of the notional spring selling period.
There has only been one occasion since 1994 – September 2008 – that we actually saw a lift, every other September in the past 20 years has actually seen sales fall.
Having one less selling day than July, August and October is one theory behind why there is traditionally a drop in September, another is the long weekend that tends to fall during the month, and a case could also be made that with September being the last month for many sporting codes, weekends are taken up with finals instead of home inspections.
The impact these factors have on overall activity cannot be officially measured, but it’s reasonable to suggest they influence activity.
When we really look at it, the spring selling season is confined to just October and November as we then experience a fall away in activity in December as we approach the festive season.
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dairey-MVZf5ZguQC

Perth's spring selling myth

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Hi Margaret,
Myself and a friend have decided to bid at auction for a block of land in <a href="/news">Westmead</a>, NSW.
We have verbal approval from council’s town planner to build a duplex on this land.
I appreciate it if you could help me with following:
<ul>
<li>Would the council usually be able to provide written confirmation regarding approval to build the duplex? 
</li>
<li>As this is just a block of land, what are the charges or taxes we have to pay before building. 
</li>
<li>Is there any step by step guide to go through all the formalities we need to complete post signing the contract of the land? 
</li>
<li>Do we need to make sure of anything before we go and win the auction?</li>
</ul>
Regards,
Hitesh
Margaret's answer is on the next page. Please click below.
<hr class="system-pagebreak">
Hi Hitesh,
It’s always a risk when buying a property which you think might be able to be subdivided. 
Many years ago, I purchased a block in Queensland and prior to the purchase I had a lengthy discussion with council in which I was advised that I could potentially build a triplex. Upon settlement, I commenced the approval process to be told that only a duplex would be possible. Just before I got the application finalised, the councils merged and my application for a duplex was rejected. Due to where this property is, building a single dwelling is a loss making exercise and I now have a technically useless, non-income producing block of land!
I tell this story to indicate the potential problems you could have.  The council will not provide written confirmation to you prior to bidding, as everything can change in the meantime and they will not want to be locked in.  They will simply refer you to the current town plan and the existing development application rules and suggest you use them as a guideline.
There are no taxes to pay to build, but the ‘charges’ can be endless.  Subdivision approval is complex and requires the services of town planners, architects, surveyors, geo tech experts, and engineers, to name a few.  A simple duplex subdivision can run to tens of thousands just for the approval to build and if driveways and retaining are also involved, expect to reach costs of over $100,000!
Your local council should have a guideline for subdivision approval on their website (or a document they can send you) but good luck with that! 
In my experience it is complex in the extreme, and it can be laborious translating what is actually required.  This is why it is a good idea to retain the services of a town planner, preferably one who may have previously worked for the council in question.
I’d initially download that guideline and contact a town planner prior to auction to get an idea of the costs of the subdivision.  This person will be able to quote on getting the ‘approval to subdivide’ (which is step one) but be aware that, after this step you have to carry out all works and steps outlined in this approval before your final deposited plan number will be allocated.
Regards,
Margaret
Have a property question? <a href="mailto:askmargaret@propertyobserver.com.au" target="_blank">Ask Margaret!</a>
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mlomas-KC9MUPZ6Ca

What hurdles will I need to jump to subdivide land? Ask Margaret

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The question that really needs to be asked is why investors have become so one dimensional? 
The answer is pretty easy given servicing household debt presently sits at the lowest level for the best part of a decade. Finally, as the dust settles commentators are starting to recognise that home owners and first home buyers have not been caught up in the Sydney property euphoria.
Property investors are simply following infrastructure trails such as the South West Rail Link, which is due to be opened early in 2015. What many forget is that such vital infrastructure is decades behind where Sydney’s cumbersome and tired transport networks should really be. These areas are high impact growth areas, although some see them as nothing more than an investor wave of speculation. Of course Sydney’s projected population explosion has no significant relevance in this debate.
One of Australia’s largest residential developers Meriton is <a href="/news/meriton-harry-triguboffs-12-billion-company">currently courting Chinese property developers</a> with the view to selling their entire operation to them – another clue.
Again key points keep getting missed here; the Sydney property market <a href="/expert-insights/the-real-estate-market-is-going-global">is now a global market.</a> We keep referencing what is happening in China, yet fail to point out the increasingly growing number of Chinese residents that now want to call Sydney home as well as a multitude of other nationalities. Sydney is envied as it continues to attract investor funds, which further drive ongoing infrastructure investment given its solid reputation for employment and population growth.
Then of course we must not forget the second Sydney airport which the federal government announced on 15 April, 2014 would be located at Badgerys Creek at a cost of $6-8 billion – again another colossal infrastructure spend. As quick as a flash investors jumped on to this newly created wave of speculation only to see local property prices post double – digit growth.
 What then happened was that the likes of RP Data and APM Price Finder released ridiculous property statistics heralding Sydney house price growth explosions, despite not even closely resembling what is happening in the Sydney markets overall, which if anything have been subdued. The reason is that they sell their respective suburb reports – so given that overall results are average to reasonable at best. They then manipulate key word statistics to on-sell their products. 
This takes me to that old saying pertaining to the use of statistics in the media: “Some people use statistics like a drunken man uses a lamp post – for support rather than illumination.”
<a href="https://www.rwm.com.au/files/2014/11/6-11-2014-9-15-54-AM.jpg"><img class="aligncenter size-full wp-image-223176" src="https://www.rwm.com.au/files/2014/11/6-11-2014-9-15-54-AM.jpg" alt="6-11-2014 9-15-54 AM" width="539" height="366"></a>
On 7 August, 2013 the Reserve Bank of Australia (RBA) decreased the cash rate from 2.75% to 2.50% where fourteen months on it still sits at 2.50%. In time we will see this cash rate become the longest ever hold in RBA history. As I have commented on numerous occasions before, the next move by the RBA will be down. There is a very strong possibility the first number of the cash rate will, in all probability, remain at 2.00 something for quite a few years to come – advantage investors.
Cue the much awaited Murray inquiry which is due for release this month with many agreeing not before time. There are, amongst many interesting recommendations that will be made, two in particular (but I’m speculating). 
The first – that Australian banks must hold more high quality capital to offset their risk weighting of housing loans. If proven true, this will quite possibly see investors move from bank stocks to residential real estate investment. 
Secondly, to offset that risk the Murray Inquiry will recommend negative gearing changes where investors can only claim against that particular asset, as against broad based investment deductions.
On that basis the Abbott government would accept all the recommendations given it would be much easier to sell and furthermore reduces the federal government’s financial exposure to negative gearing – which has become a major mover and shaker in the property investment market. With the benefit of hindsight it’s an embarrassment that the previous Labor government decided to completely ignore the Henry Tax Review recommendations.
It has become completely obvious that RBA ‘jawboning’ has not worked given investors are very, very short on investment choices. The Murray Inquiry ‘macroprudential’ lever will all but ensure that the Australian cash rate remains with a two in front for quite some time to come.
For those actively spruiking that imaginary ‘bubble’ conversation – your argument basically ceases to exist. Unless of course you’re from RP Data or APM Price Finder and you’re selling ‘suburb reports’.
The saddest part with this entire property critique is that property investors are mistaken in the vital role they play in the machinations of the Australian economy. Australian Census figures reveal that approximately one-third of the Australian population reside in rental properties.
The Murray inquiry will make for compelling reading where no doubt it will more than ruffle a few feathers.
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robertsimeon-hRNTwJyXkQ

Sydney investor splurge is much ado about nothing

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The Perth residential property market is officially in decline.
House prices fell in Perth during the September quarter, albeit by just 0.1%, according to the Australian Bureau of Statistics (ABS).
It was the only capital to record a decline in the ABS price index, released today.
Perth dwelling prices still sit 3.6% up for the year, but gone are the days when Perth’s housing market was the strongest in the country, boosted by the thriving mining industry.
Westpac economist Matthew Hassan noted the preliminary estimate of the ABS Residential Property Price Index showed "a notable slowdown" in Perth with prices flat over the last six months.
The preliminary estimate of the ABS Residential Property Price Index showed a solid 1.5% gain in Q3, down on Q2's 1.9% gain but in line with Q1's 1.4% rise.
Annual price growth has moderated from a peak of 10.8% at the start of the year to 9.1% in Q3, a result that was in line with expectations, Hassan suggested.
"All price measures are pointing to a clear moderation in momentum in 2014 although most suggest this is a step down from a 10-14% annualised pace to a 6-8% pace.
"To date, readings for the second half of the year point to a continuation of this pace rather than a further slowdown.
The ABS index detail shows national house prices up 1.6% over the quarter, 9.2% over the year and attached dwellings up 1.2% over the quarter, and 8.5% over the year.
He noted that estimates for Q3 and Q2 are still preliminary and subject to revision.
The ABS plans to change this arrangement in 2015, pushing back the release date by six weeks so that published figures will be 'final' from first release.
"Unfortunately that will make what is already the last price measure to be published even less timelier and useful for analysts," Hassan said.
The capital city breakdown continues to show strong gains in Sydney (+14.6% year on year), more moderate gains in Melbourne (+6.9% year on year), Brisbane (+6.7% year on year) and Adelaide (+5.6% year on year).
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jchancellor-FAypfDUnLy

As mining eases Perth residential market marginally in decline: ABS

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Auction clearance rates (ACR) are reported at the start of the week, expressed as a percentage. They have been recorded since the early 1980s and have since cemented themselves as a leading indicator of market sentiment.
There are a number of providers of auction clearance rates, however the two most often relied upon are Australian Property Monitors (APM) and RP Data. The Real Estate Institutes often present their own clearance rate data as well. These data sets are regularly different to each other, making auction clearance rates particularly confusing.
In a nutshell, a low auction clearance rate usually indicates a buyer’s market, while a high auction clearance rate indicates a seller’s market, or a hot market. A neutral market is around the 50% mark, however it’s worth knowing the norm for the city you’re considering.
So what exactly are they counting?
The percentage of the ‘clearance’ rate is those that cleared or, in other words, those that sold. However, different companies have slightly nuanced ways of collecting this data.
Auction clearance rates tend to include the sold at auction results, as well as those sold directly before or after. Passed in and withdrawn auctions are also collected. APM considers withdrawn properties to be ‘no sale’, just as those that are passed in are considered ‘no sale’.
Their calculation is:
Clearance Rate = (Sold at auction + Sold prior to auction)/(All reported + withdrawn)
However, they collect their data on Saturday, for publication in the Sunday papers, and their process of collecting results will still continue after this time. Unsurprisingly, the revised figures later in the week may moderately differ.
APM refers to their figures as the “most conservative” of any source presented in mainstream media. However, they <a href="/news/the-current-method-of-gauging-the-strength-of-the-market-is-both-flawed-and-lazy">have come under fire over the past year for not publishing the total auction listings </a>and not including unreported auctions, which may make the ACR seem higher.
The Real Estate Institute of Victoria uses this equation:
Auction Clearance Rate = (Sold at auction + Sold before auction + Sold after auction)/(Number of reported auctions)
They opt not to include withdrawn or postponed auctions saying that they haven’t been subject to a full auction campaign. Their ‘sold after’ figures apply to those sold on Sunday, but not Monday, and still under auction conditions.
RP Data also includes the results of those sold before and after auction. ABC Fact Check notes that they only rely on the number of reported auction results for which the outcome is known.
As you can see, these statistics would vary significantly from each other. Unsurprisingly, there has been close scrutiny and questioning of auction statistics in recent times.
A research paper from Deakin University, Residential auction clearance rates – what do they really mean?, looks closely at the Melbourne market ACR and its limitations.
“Caution should be exercised when interpreting what it actually means and its limitations are rarely discussed in real estate circles; for example there is no consideration given to the number of bidders at the auction, how much [%] the property exceeded the vendor’s reserve, the number of bids or the number of competing auctions in the surrounding area at the same time,” the report explains.
“At times the auction clearance rate is sourced from a narrow segment of the market with few sales and therefore cannot directly applied in across greater Melbourne.”
The study did, however, note that there is a correlation between house prices and the ACR.
<img src="/images/2014/11/11/acr%20nov%2011%20one.png" alt="">
Usually, real estate agents report the results of an auction to a data house (by phone, or by an online portal), which the Deakin study explains is as a result of agents’ requirement to appear competitive in the market. However, at present this reporting is voluntary, not mandatory, and so can cause only impartial results if agents opt to not report over a weekend. There has been some suggestion that when clearance rates are low, real estate agents are less inclined to report.
When reported, newspapers and media outlets look for records, or six-month highs or lows, or anything to provide the ACR a newsworthy hook. Despite this making for interesting reading, clearance rates are best used when looking at longer time periods of data, and trends, as a result of how easily affected each weekend can be by events or poor data collection.
They are also an indicator of the broader market’s performance. This can be useful to understand how a city is faring generally, but may not be specific enough to assist you when looking at micro markets (this is where your own research into what is selling comes in handy). Remember that while auctions are much-discussed, private treaty is by far the most common method of sale.
Similarly, markets without an auction culture will find the clearance rate statistic less useful. For instance, Sydney and Melbourne are the two largest auction cities across the country. Hobart and Adelaide investors may barely consider the ACR. Similarly, some suburbs have a higher reliance on private treaty than others (smaller areas away from the city and regional areas in particular), meaning you need to know your local market well if you want to know how much to rely on this statistic.
In summary, the statistics can be useful when considered over a lengthy period of time, and when you understand specifically what is being recorded. However, it is just one of a number of factors you must consider and should be used in concert with your own localised research.
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jduke-EHk3XBmHkn

What is an ‘auction clearance rate’? Investment terms explained

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An interesting picture emerges from the list of top yielding suburbs across Western Australia and Queensland.
With a total of 33 suburbs at 7.00% or above, or 17 in Queensland and 16 in Western Australia according to RP Data, Property Observer decided to look at which areas are influenced by mining.
Using a combination of 2011 Census Data employment statistics, and local government details to notify when a mine is nearby, each town in the list below has been tagged with ‘resources influence’ if mining or associated industries affect the area in a significant way. That’s not to say, of course, that mining is the only driver in some of these towns, nor that those without this tag have not been affected at all by the mining boom.
In total, 23 of the locations on our list were given a ‘resources influence’ tag. Their rental yields range from 11.7% to 7.00%.
Interestingly, some of the much discussed and atypical mining towns did not make the top yielding house list. Moranbah’s average gross rental yield for a house sits at 6.30%. However, when yields for units area strong 8.32%.
23 suburbs emerge with unit yields recorded at or above 7.00%, some doubling up on the list below. For instance, South Hedland units recorded 7.77% average gross rental yield.
One mining area that also managed to get onto the unit list was Queensland’s North Mackay, with units offering a 7.25% yield. Western Australia’s Kalgoorlie also made the list, offering 7.00%.
With mining town rental yields in the past pushing into low double figures, it's interesting to note that just two of those on this list surpassed the 10% mark. When looking at units just one suburb managed to attain this same strength, with the Sunshine Coast's Peregian Springs boasting a 10.53% gross rental yield.
Click over the page to see the full list of suburbs.
<hr class="system-pagebreak">
These statistics are based on the latest available house information from RP Data:
<ul>
<li><a href="/news">Miles</a>, Qld</li>
</ul>
11.7%
Resources influence
<ul>
<li><a href="/news">Mount Morgan</a>, Qld</li>
</ul>
10.35%
Resources influence
<ul>
<li><a href="/news">Kambalda West</a>, WA</li>
</ul>
9.84%
Resources influence
<ul>
<li><a href="/news">Port Hedland</a>, WA</li>
</ul>
9.00%
Resources influence
<ul>
<li><a href="/news">South Hedland</a>, WA</li>
</ul>
8.89%
Resources influence
<ul>
<li><a href="/news">Charleville</a>, Qld</li>
</ul>
8.79%
<ul>
<li><a href="/news">Dysart</a>, Qld</li>
</ul>
8.67%
Resources influence
<ul>
<li><a href="/news">Cloncurry</a>, Qld</li>
</ul>
8.45%
<ul>
<li><a href="/news">Nickol</a>, WA</li>
</ul>
8.40%
Resources influence
<ul>
<li><a href="/news">Newman</a>, WA</li>
</ul>
8.32%
Resources influence
<ul>
<li><a href="/news">Depot Hill</a>, Qld</li>
</ul>
8.25%
<ul>
<li><a href="/news">Soldiers Hill</a>, Qld</li>
</ul>
8.14%
Resources influence
<ul>
<li><a href="/news">Clermont</a>, Qld</li>
</ul>
8.13%
Resources influence
<ul>
<li><a href="/news">Yarloop</a>, WA</li>
</ul>
8.13%
<ul>
<li><a href="/news">South Boulder</a>, WA</li>
</ul>
8.03%
Resources influence
<ul>
<li><a href="/news">Pegs Creek</a>, WA</li>
</ul>
8.00%
Resources influence
<ul>
<li><a href="/news">Sunset</a>, Qld</li>
</ul>
7.73%
Resources influence
<ul>
<li><a href="/news">Mornington</a>, Qld</li>
</ul>
7.72%
Resources influence
<ul>
<li><a href="/news">Baynton</a>, WA</li>
</ul>
7.70%
Resources influence
<ul>
<li><a href="/news">Coolgardie</a>, WA</li>
</ul>
7.65%
Resources influence
<ul>
<li><a href="/news">Dinmore</a>, Qld</li>
</ul>
7.58%
<ul>
<li><a href="/news">Victory Heights</a>, WA</li>
</ul>
7.55%
<ul>
<li><a href="/news">Kambalda East</a>, WA</li>
</ul>
7.48%
Resources influence
<ul>
<li><a href="/news">Parkside</a>, Qld</li>
</ul>
7.31%
Resources influence
<ul>
<li><a href="/news">Healy</a>, Qld</li>
</ul>
7.23%
Resources influence
<ul>
<li><a href="/news">Jandowae</a>, Qld</li>
</ul>
7.21%
<ul>
<li><a href="/news">Derby</a>, WA</li>
</ul>
7.18%
Resources influence
<ul>
<li><a href="/news">Murgon</a>, Qld</li>
</ul>
7.17%
<ul>
<li><a href="/news">Roma</a>, Qld</li>
</ul>
7.09%
Resources influence
<ul>
<li><a href="/news">Bulgarra</a>, WA</li>
</ul>
7.06%
Resources influence
<ul>
<li><a href="/news">Bundaberg South</a>, Qld</li>
</ul>
7.03%
<a href="/news">Narrogin</a>, WA
7.02
<ul>
<li><a href="/news">Brockman</a>, WA</li>
</ul>
7.00%
Resources influence
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Mining a clear winner for top yielding Queensland, Western Australia areas

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After last season's auctions fizzled out, it's good to know that good Blockheads go to heaven – or at least, to have careers in renovation.
Though they may be off our screens, plenty of former contestants from The Block have continued to renovate and refurbish homes. The Block: Where are they now? 
<ul>
<li>Michael and Carlene</li>
</ul>
<img src="/images/2014/11/11/michael%20and%20carlene.jpeg" alt=""> After winning just $10,000 on The Block Glasshouse, Michael and Carlene have hit the ground running. They've launched <a href="https://cedarandsuede.com" target="_blank">Cedar&amp;Suede</a>, a design and construction company. The business is available to work on new builds, renovations or interior updates.
<ul>
<li>Alisa and Lysandra <img src="/images/2014/11/11/Alisa_Lysandra_0118_copy.jpg" alt=""> </li>
</ul>
The twice-appearing twins, who won The Block Sky High and showed up again for Fans v Faves have a homewares retail business, AL Collections. Their products include plenty of items they used on The Block, and even Alisa and Lysandra <a href="https://www.alcollections.com.au" target="_blank">t-shirts and hoodies</a>, for the true devotees.
<ul>
<li>Kyal and Kara</li>
</ul>
<img src="/images/2014/11/11/566768-f1ae33e0-86ee-11e3-8066-beb3483f8e9c.jpg" alt=""> Fans v Faves favourites Kyal and Kara now run <a href="https://www.diverseconstruct.com/" target="_blank">Diverse Design and Construct</a>, a company they launched in the wake of The Block. The young couple work on new residential builds, commercial and retail fit outs, interiors, renovations and custom cabinetry.
<ul>
<li>Brad and Lara</li>
</ul>
<img src="/images/2014/11/11/bradlara_bio.jpg" alt=""> Brad and Lara won the 2012 season of The Block. The couple have put some of their winnings (which includes Brad's share of the profit he made with Dale on The Block Fans v Faves) on a commercial property investment – the Maryville Tavern.
Buying earlier this year, the couple have been renovating the pub. Brad will reportedly be managing the project with the pub's co-owner, his cousin.
<ul>
<li>Matt and Kim <img src="/images/2014/11/11/mattkim.jpg" alt=""> </li>
</ul>
Matt and Kim, who got married earlier this year, have been a little more public about their renovation efforts than other former contestants. The couple hosted a Channel 9 special called Matt and Kim to the Rescue, where they renovated a family's home in three days.
Matt works at <a href="https://www.skyhighrenders.com" target="_blank">Sky High Renders</a>, a polished plastering company, Kim writes for past Block contestant Dani's blog, The Home Journal, and the couple also created styling packages for developer Psaros.
<ul>
<li>Bec and George <img src="/images/2014/11/11/becgeorge.jpg" alt=""> </li>
</ul>
Fellow Sky High couple Bec and George also continue to work in property and interiors. Bec works as the resident interior consultant for developer Nostra homes, while running interiors and fashion blog, <a href="https://becmarksthespot.com.au">Bec Marks The Spot</a>. According to her website, George keeps busy developing properties.
<ul>
<li>Josh and Jenna</li>
</ul>
<img src="/images/2014/11/11/jenna-and-josh-729-420x0.jpg" alt=""> After appearing on The Block in 2011 and 2013, Josh and Jenna seem to have acquired a taste for renovating and flipping properties. The couple have a business called <a href="/expert-insights/buying/blockheads-josh-and-jenna-sell-east-albury-investment-cottage">Bicker Design</a>, which specialises in "interior design, property renovation and pre sale makeovers". Earlier this year, the couple sold their renovated East Albury investment cottage.
Josh and Jenna also have a lighting range at Beacon, with items ranging from $79.95 to $599.00.
<ul>
<li>Dani and Dan <img src="/images/2014/11/11/danidan_bio.jpg" alt=""> </li>
</ul>
Dani and Dan competed on The Block 2012 and The Block All Stars, winning a total of $668,000. Since then, they've been completing two renovation projects, an East Melbourne apartment and a house in Seddon, which will be documented on their online renovation publication and retailer <a href="https://thehome-journal.com" target="_blank">The Home Journal</a>. Dan has also been keeping busy in the past few months as foreman Keith's assistant on the South Yarra set of The Block 2015.
Photos courtesy Channel 9.
 
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jrichardson-uRX5hFdKfN

Former Block contestants craft new careers in renovation

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A Clontarf beach-front home was the most expensive sold in Australia last week, according to RP Data. The mid-century house (pictured in the gallery above) sold for $4,875,000, changing hands for the first time in 60 years.
Second on RP Data's list was a Bellevue Hill home, which secured $4.61 million. Once again Sydney homes dominated the top-end sales, with just one appearance each from Victoria, Queensland and Western Australia.
RP Data's top 10 sales for the week ending Sunday 9 November: 
<a href="https://www.realestate.com.au/property-house-nsw-clontarf-118133639" target="_blank"><img src="/images/2014/07/04/yellow-one.jpg" alt="" style="float: left;">29 Monash Crescent, Clontarf, NSW</a> <img src="/images/2014/11/11/1.jpg" alt="">
The Clontarf house was sold through Belle Property. With direct access to the beach through the back gate, the home has a full panoramic view of the harbour through full height picture windows and sliding doors, which open to the back terrace. The terrace has a separate undercover entertaining area.
The home has four bedrooms and three original bathrooms, with a "retro-style" kitchen.
<a href="https://www.realestateview.com.au/Real-Estate/29-bulkara-road-bellevue-hill/Property-Details-buy-residential-7682968" target="_blank"><img src="/images/2014/07/04/yellow-two.jpg" alt="" style="float: left;">29 Bulkara Road, Bellevue Hill, NSW</a> <img src="/images/2014/11/11/2.jpg" alt=""> A five bedroom, six bathroom house in Bellevue Hill sold for $4.61 million last week through Laing + Simmons Double Bay. The main house, with multiple entertaining terraces, shares the 892 square metre plot with a free standing pool house.
According to the listing information, there is scope for a future second floor renovation on the home. The sellers bought it for $3 million in 2009.
<a href="https://www.realestate.com.au/property-house-qld-yeronga-118120535" target="_blank"><img src="/images/2014/07/04/yellow-three.jpg" alt="" style="float: left;">365 Brisbane Corso, Yeronga, Qld</a>
 <img src="/images/2014/11/11/3.jpg" alt="">
The only Queensland home to make it to this week's top 10, this Yeronga house sold for $4.38 million through Place Graceville.
Constructed by the TAK Group in 2008, the three level home sits on a 916 square metre riverfront site, with 800 square metres of internal floor space. Materials used in the house include natural stone and polished timber. There is a pool along the side of the home's raised second level, with a spout pouring water from the wall of the house's third floor.
Although it was one of Australia's most expensives homes sold this week, the vendors still made a loss on 365 Brisbane Corso. They paid $5 million for the residence in 2009.
<a href="https://www.realestate.com.au/property-house-nsw-mosman-118107239" target="_blank"><img src="/images/2014/07/04/yellow-four.jpg" alt="" style="float: left;">14 Euryalus Street, Mosman, NSW</a> <img src="/images/2014/11/11/4.jpg" alt="">
A Mosman home designed by French born Sydney architect Guy de Compiegne sold for $4.15 million through LJ Hooker Mosman. Compiegne has spoken before about the changing nature of entertaining spaces in homes – this one, with its large marble kitchen island and open plan living area, seems to align with his ideas about high visibility, theatrical entertaining.
Many of the north-facing house's rooms offer panoramic views of Middle Harbour, and the home has a nine metre pool. 
<a href="https://www.realestateview.com.au/Real-Estate/11-ruby-street-mosman/Property-Details-buy-residential-7752208" target="_blank"><img src="/images/2014/07/04/yellow-five.jpg" alt="" style="float: left;">11 Ruby Street, Mosman, NSW</a> <img src="/images/2014/11/11/5.jpg" alt="">
The second Mosman home on this week's top 10 list sold for $3,971,000 at auction through Shead Property Chatswood. The sale marks the first time the circa 1907 house has changed hands in 70 years.
With a view of the city skyline, the Opera House and the Harbour Bridge, the house is set high on its 835 square metre plot. It has four bedrooms. The home features stained glass bay windows, fireplaces in the formal lounge and dining room, a cellar and a workshop.
Article continues on the next page. Please click below.
<a href="https://www.realestateview.com.au/Real-Estate/9-cole-street-hawthorn-east/Property-Details-buy-residential-7737540" target="_blank"></a>
<hr class="system-pagebreak">
<a href="https://www.realestateview.com.au/Real-Estate/9-cole-street-hawthorn-east/Property-Details-buy-residential-7737540" target="_blank"><img src="/images/2014/07/04/yellow-six.jpg" alt="" style="float: left;">9 Cole Street, Hawthorn East, Vic</a> <img src="/images/2014/11/11/6.jpg" alt="">
This Hawthorn East home with a faux Parisian façade sold for $3.8 million through Hocking Stuart Balwyn. The interior is as ornate as the exterior, with European Oak parquetry throughout, New York marble used in the kitchen and fireplaces and a calacatta marble en suite for the master bedroom.
There are five bedrooms and four bathrooms in home, with an entertaining area, kitchen and solar heated pool outside. Vendors purchased the property for $1.65 million mid-last year before building the current residence.
<a href="https://www.realestateview.com.au/Real-Estate/248-marine-parade-cottesloe/Property-Details-buy-residential-6714305" target="_blank"><img src="/images/2014/07/04/yellow-seven.jpg" alt="" style="float: left;">248 Marine Parade, Cottesloe, WA</a> <img src="/images/2014/11/11/7.jpg" alt="">
The only West Australian home to appear on this week's top 10 is a $3.7 million Cottesloe home. The four bedroom, three bathroom house was designed by Perth architect Gary Banham.
After 268 days on the market, the home with ocean views was sold through Mack Hall Real Estate.
<a href="https://www.realestate.com.au/property-house-nsw-strathfield-118149319" target="_blank"><img src="/images/2014/07/04/yellow-eight.jpg" alt="" style="float: left;">81 Homebush Road, Strathfield, NSW</a> <img src="/images/2014/11/11/8.jpg" alt="">
This three level heritage home sold at auction through Richard Matthew Real Estate Strathfield, who boast the $3,601,000 price was $451,000 over reserve.
The eight bedroom, five bathroom house is set over five levels on a 1,808 square metre parcel. It features formal and informal living spaces, wraparound balconies, marble fireplaces, lead lights and a separate one bedroom apartment.
<a href="https://www.realestateview.com.au/Real-Estate/12-hall-street-brighton/Property-Details-buy-residential-7733080" target="_blank"><img src="/images/2014/07/04/yellow-nine.jpg" alt="" style="float: left;">12 Hall Street, Brighton, Vic</a> <img src="/images/2014/11/11/9.jpg" alt=""> A triple storey Georgian inspired home sold for $3,515,000 through Greg Hocking Real Estate St Kilda. The five bedroom, three bathroom Brighton house is situated on a 894 square metre plot a house away from the Billilia mansion estate, within walking distance of the William Street Reserve and Church Street.
Herringbone parquetry floors are seen throughout the home's living and entertaining areas, which include a formal lounge and dining room. At the rear, french doors open onto the outdoor entertaining area and gardens.
<a href="https://www.realestate.com.au/property-house-nsw-north+bondi-107613381" target="_blank"><img src="/images/2014/07/04/yellow-ten.jpg" alt="" style="float: left;">71 Hastings Parade, North Bondi, NSW</a> <img src="/images/2014/11/11/10.jpg" alt="">
Raine &amp; Horne Bondi Beach secured $3.13 million for this five bedroom North Bondi house.
The living area of the freestanding home has blackbutt timber floors, with an open flame gas fireplace. Outdoors, there is a deck for entertaining, an outdoor shower and a five metre spa.
Sellers bought the house in April 2012, paying $2.4 million.
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