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“Minister Chanthivong and his team have shown real leadership in replacing an outdated two-year bond with cover that matches the lifespan of the buildings people are buying into.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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Everyone thinks they’re a bit of a real estate expert, and while that makes for fun family BBQs, it doesn’t necessarily mean you should take everything as gospel.
When anyone offers you their two cents (and sometimes more) on the property market, it’s worth asking the following questions to determine how much you can actually rely on the details.
Some of these you can ask to the individual themselves, while others are for you to consider.
Here’s our seven questions to be asking:
<ol>
<li>
Who is paying them? Following the money has always been a good strategy in real estate. Someone you are paying is more likely to have your best interests at heart. For instance, a buyer’s agent that you pay a fee to is more likely to be working for you and giving you good advice than the real estate agent who is receiving a commission from the vendor’s sale. Find out where they get their money from, and any conflicts of interest that may arise from kickbacks or commissions. 
</li>
<li>
What data is this information based on? Asking to see the statistics and source material behind someone’s assertion can help you out. Everyone’s interpretation of information differs, and it’s worth figuring out if you agree with the interpretation being provided by the guru you’re speaking to. You may also discover issues in their source data, or a selective choice of information. Head back to the source. If they are hesitant to reveal their statistics and sources, it’s time to be wary. 
</li>
<li>
Do they have any personal experience with what they are telling you? Personal experience can give someone a specialised level of expertise, and a mentor who has “been there” can quickly point out issues with your renovation plans, or tell you what you might need to watch out for. This can be invaluable. However, beware of the expert who hasn’t done it themselves before and relies on living through others’ experiences. Certainly, not every person must have personal experience, but it can help understand where they’re coming from. For those who have invested and been burnt in the past, you may also find that there is some personal bias and risk aversion. Ensure that you know what experiences they have had so you are aware of any potential bias. 
</li>
<li>
How much professional experience do they have? For those in the industry, it’s worth knowing what education they’ve had and for how long they have been in the profession. While this doesn’t mean that anyone without that level of industry experience cannot provide good information, and certainly doesn’t suggest that all industry veterans are well placed to assist, it does allow you to be on your guard. For those that are not in the industry, such as family and friends, it’s worth knowing what their other qualifications are. There are many overlapping and useful details 
</li>
<li>
Why are they offering you the information? As above, if you’ve paid for the services that is one reason someone will provide information. Otherwise you want to know whether they’re selling you something or trying to do a good deed. Understanding the motivations of the expert will go a long way to explaining the type of advice they’re dishing out. 
</li>
<li>
Is the information ratified by any other experts? Knowing whether many other professionals or knowledgeable property buyers agree with this individual can help you find out problems before they affect your purchase. Look for the arguments other experts have made against them, either in news articles online, forums or just by speaking to them, and think carefully about whether these counterpoints have much ground. Take the opposing arguments to that expert to really test their advice. 
</li>
<li>
How have they made their advice relate to you? If their advice is generic, it’s worth being wary. If they know nothing about your finances, tolerance for risk, background and future plans, then it’s likely not prudent for them to be suggesting a first time buyer drops $800,000 on a mining town investment. The more they ask about you, and the more flexible they are around your personal circumstances, the more likely they are actually considering what investment suits your profile. There is no one size fits all for every buyer.
</li>
</ol>
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jduke-EHk3XBmHkn

Seven questions that will help test "expert" advice

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How long do you spend on real estate websites each week? Browsing listings in the name of research is many peoples’ favourite pastime, and understandably so.
However, if you’re using this time to do research online then you need to be wise. It’s fair enough to browse in the name of ‘foyerism’, as <a href="https://twitter.com/krissimmons" target="_blank">@KrisSimmons</a> on Twitter referred to it to me. But if you’re researching your first purchase or, really, any purchase, there must be method to the madness.
There really is a fine line between<a href="/expert-insights/what-is-due-diligence-investment-terms-explained"> due diligence</a> and <a href="/expert-insights/investing/what-is-analysis-paralysis-investment-terms-explained">analysis paralysis</a>.
Womankind magazine calls it ‘mentalistic hedonism’ and the concept of browsing aimlessly through real estate listings comes up twice within the issue.
They ask: “You’ve spent the last hour viewing houses on an online property website, but you’re not looking to buy or rent a house. So what exactly are you doing?”
<img src="/images/2014/11/06/crop-nov-6-one.png" alt="">
Source: Womankind
Their mentalistic hedonism idea suggests that we browse property because we experience pleasure from the idea of buying.
However, while that is most certainly the case for some browsing (such as multi-million dollar penthouses and mansions, or any property outside of your budget), browsing listings websites can present you with a unique opportunity to really get inside the market.
Searching listings without a formal plan to buy is good for numerous reasons. One of these is familiarising yourself with the language of real estate agents when they list property. The other is getting a general understanding what is on the market in which areas.
A reader recently sent me a direct message on Twitter. I was aware that he’d recently missed out on a property at private treaty. We briefly discussed the merits of using buyer’s agents. It seemed that he had a fairly good grasp of the market just from making tentative bids and just being when the selling process was underway.
The first timer who has read all the information and browsed several properties, maybe even heading to a few auctions too, is in a far better position than a person who goes in cold.
What this type of laid back research doesn’t do is provide you solid data you can use to inform your future purchases and knowledge of the movements in the market. Certainly it provides a good base, but some solid comparables are crucial.
If you’re not sure about where you’re ready to buy, consider collecting the data as you go to really maximise all that time spent online.
To take things further, you need a system.
Someone else told me that they’d been collecting auction figures in a spreadsheet every week, with plans to use it to assist them buy in the future. Property Observer publishes links to APM's list of Sydney, Melbourne, Brisbane and Adelaide auction results every Monday morning.
I am of the opinion that it is possible to buy well and pay the right amount without hiring a professional. I also believe that it’s possible to do very badly indeed without an expert on your side, if you scrimp on valuable research.
It can be a time consuming process that, when considering your own personal cost per hour, may actually be a false economy to take into your own hands. If you’re also not that confident in your own abilities, or perhaps you’re just not really wired that way, it may be time to seek out an expert.
If you are not interested in making a really significant effort to research, let’s face it a lot of us are very time poor, then it might be worth engaging a professional or laying down some money for reports and details that would take you too long to compile yourself.
Article continues on the next page. Please click below.
<hr class="system-pagebreak">
Later in the same edition of the magazine mentioned on the previous page, Womankind presents another interesting discussion around the same topic.
They explain the ‘nesting’ aspect of interior design and renovation, but does not mention the financial aspect. It is many home owners’ dream to “do up” their property, but it’s also often the dream to add some value to it in the process. Rare is the home owner who doesn’t think about the added financial possibilities of a home extension or renovation.
Many property owners and first home buyers think their property, or the one they are looking at, is worth more than it probably is. We’re all guilty of it.
The internal dialogue goes a little like this:
“Well, I bought it in 2010 for $420,000 and that was a good price for the time. Since then I’ve spent $40,000 in renovations and improvements, and the market has moved now so it’s probably worth at minimum $600,000.”
The reality can be far different. And sometimes those $40,000 of renovations do not factor in at all. This is where objectivity, and your collected statistics, can come in handy. Become an evidence-based property investor or first home purchaser that buys based on solid, proven data.
One strategy that has stuck with me is to do the following:
<ol>
<li>Open a document in Excel and label it with the suburb you are looking at. 
</li>
<li>Each row down the left hand side can be the address of a property. 
</li>
<li>In the first column next to the address, include the ‘asking price’. In the next column, write ‘sold price’ and ‘sold date’. You can leave the sold price and date blank until you find out. 
</li>
<li>In the column headings after, write points of comparison such as “number of rooms”, “square metres”, “pool” and other features. I’ve heard of some people saving corresponding files with the pictures from the listing as well. The more details, the more easily you can compare later.</li>
</ol>
After you’ve collected these details, when you see a property come onto the market you can quickly look for where it sits in your spreadsheet. Is it a four bedroom house on 900 square metres with a pool? You might just have the recent sale price of a nearby home that matches (or can be a starting guide).
Here's a <a href="/expert-insights/understanding-comparable-sales-an-introduction">quick intro to understanding comparable properties</a> that will help you fill in your spreadsheet.
This is just one of many ways that people collect the necessary information. Some people plot recent sales and prices on Google Maps so they could get an idea of which areas are pricier. Some people just write down the details, or give the property their own ranking as well, and keep them in a folder.
For first home buyers, having a collected pile of comparable sales can quickly alert you to when a home owner wants more than is viable for you to pay. It may also protect you from <a href="/news/real-estate-agents-presenting-inappropriate-comparables">real estate agents presenting inappropriate comparables</a>. Obtaining this information is of paramount importance.
If collecting this evidence comes with a bit of gazing at glorious Sydney harbourfronts with infinity edged pools and Tasmanian converted churches, well, so be it!
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Making the most of property procrastination: Letter from the editor

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GUEST OBSERVATION
A small group of people is gathered around a campfire in a Victorian State Forest. Members of the <a href="https://www.facebook.com/TinyHousesAustralia" target="_blank">Tiny Houses Australia community</a>, they’re attending a spring camp to talk about how to build a tiny house, and compare notes on how to address common barriers, like local government planning schemes.
The group is diverse, from students to professionals and retirees. One has been living temporarily in caravans. Others were forced to move into shared accommodation or board with family. Most have given up on the idea of buying their own home, put off by the high price tag or the size of the mortgage, or the downside of living far from family or employment.
Most of the group are also fierce promoters of a more sustainable, minimalist way of life who want their new houses to reflect this. You won’t find many en suites or walk-in wardrobes in their floor plans.
Is bigger really better?
Something is wrong when <a href="https://au.news.yahoo.com/thewest/a/25372224/170k-family-priced-out-of-perth/" target="_blank">a professional earning A$170,000</a> cannot afford to live close to work; or <a href="https://www.smh.com.au/business/property/firsthome-crisis-triggers-call-for-action-20131115-2xmcv" target="_blank">a doctor needs a parental loan</a> to buy a house. All 25 major urban housing markets in Australia are ranked as <a href="https://www.demographia.com/dhi.pdf" target="_blank">severely unaffordable</a>; and Australia has the <a href="https://www.imf.org/external/research/housing/index.htm" target="_blank">second most unaffordable</a> housing market among member nations of the Organisation for Economic Co-operation and Development (OECD).
Australian houses are also <a href="https://www.demographia.com/dhi.pdf" target="_blank">among the largest</a> in the OECD. In 2008, the average new house was 214 square metres, double the size of an average 1950s house. Very large houses are not only more expensive, but environmentally unsustainable. For example, the major factors that determine a house’s greenhouse gas emissions are its size and location; the bigger and more isolated the house, <a href="https://link.springer.com/article/10.1007/s10901-011-9212-2#page-1" target="_blank">the larger its emissions</a>.
For many, particularly young people entering the market and older people leaving the workforce, the “great Australian dream” of a big house on a quarter-acre block is a distant fantasy. And even for those who are living the dream, a sudden interest-rate rise, job loss or chronic illness could rapidly turn it into a nightmare.
Regardless of the debate over whether we’re in a <a href="https://theconversation.com/memo-to-the-imf-there-is-no-housing-bubble-27925" target="_blank">housing bubble</a>, the affordability problem is much broader than property prices. The most serious issue is the lack of affordable <a href="https://onlinelibrary.wiley.com/doi/10.1111/j.1467-8462.2008.00502.x/full" target="_blank">rental accommodation</a>.
Finding sanctuary in a tiny house
From this backdrop has emerged a trend towards <a href="https://www.bloomberg.com/news/2014-07-09/tiny-houses-big-with-u-s-owners-seeking-economic-freedom" target="_blank">building much smaller houses</a>. The <a href="https://en.wikipedia.org/wiki/Small_house_movement" target="_blank">tiny house movement</a> originated in the United States in the late 1990s, largely in response to problems with housing affordability, although it has also been spurred on by the <a href="https://theconversation.com/au/topics/global-financial-crisis" target="_blank">global financial crisis</a> and a widespread desire to live more sustainably. The movement has now spread to New Zealand, Australia and Canada.
Tiny houses are generally smaller than 40 square metres, and <a href="https://www.businessinsider.com.au/beautiful-tiny-homes-2014-8#this-60-square-foot-home-is-the-smallest-house-in-the-uk-16" target="_blank">can take many forms</a>, from granny flats, to repurposed shipping containers, to <a href="https://www.huffingtonpost.ca/2014/03/21/tiny-house-on-wheels-abbotsford_n_5003376" target="_blank">complete houses built on trailers</a>.
<img src="https://62e528761d0685343e1c-f3d1b99a743ffa4142d9d7f1978d9686.ssl.cf2.rackcdn.com/files/63676/width668/m36s92m7-1415151376.jpg" alt="">
Room to manoeuvre: some tiny houses have wheels - just don’t call them caravans. The Tiny Abode Co., Author provided
The benefits of tiny houses include <a href="https://tinyhousebuild.com/tiny-houses-infographic">overall sustainability</a>, reduced energy and water use (tiny houses are often “off the grid”) and, of course, affordability. Some tiny houses can cost less than A$10,000. Moreover, they <a href="https://onlinelibrary.wiley.com/doi/10.1162/1088198054084680/abstract">use significantly less resources</a> to build, and are often constructed from salvaged materials or sustainably sourced products.
Mobile tiny houses could even help their inhabitants adapt to climate change; a house on wheels can be moved out of danger from floods or storm surges. They can allow adult children or aged parents to live independently, yet maintain access to family, employment and public transport.
Tiny houses can even address aspects of homelessness. In the United States, some local governments are donating land for <a href="https://www.huffingtonpost.com/2014/10/27/greensboro-north-carolina-tiny-homes_n_6054590?ir=Impact" target="_blank">homeless people to build their own tiny homes</a>.
This article continues on the next page. Please click below.
<hr class="system-pagebreak">
The biggest issues with a tiny house
Although <a href="https://www.facebook.com/TinyHouseBlog" target="_blank">information is plentiful</a> on building techniques, plans and design, it is not very easy to build a tiny house. However, as attendees at the Spring Camp agreed, perhaps the biggest problem with building a tiny house is finding a place to put it.
Tiny houses do not conform to many <a href="https://www.berkeleyside.com/2011/01/07/a-city-looks-for-big-solutions-in-a-little-very-little-house" target="_blank">local government planning schemes</a> or building codes, which mandate minimum house sizes, maximum number of houses per plot, connection to utilities, parking provisions, and restrictions on temporary occupation.
It might also be argued that allowing tiny houses will reduce land values and lead to health and safety concerns, such as overcrowding. But people currently live in crowded conditions or illegally in sheds or caravans.
Some states, such as New South Wales, allow property owners to build <a href="https://www.planning.nsw.gov.au/Portals/0/plansforaction/affordablehousing/docs/Affordable%20Housing_Fact_Granny%20Flats.pdf" target="_blank">granny flats</a>. In other states, the regulations differ between and within each local government, although almost almost all have restrictions on the duration of temporary occupation.
For non property-owners, particularly those who don’t want to take any legal risks, the options are fewer. And of course, local governments can and should impose planning restrictions on tiny houses, and ensure that they comply with building codes and standards.
Tiny houses are not for everyone. They will probably <a href="https://lup.lub.lu.se/luur/download?func=downloadFile&amp;recordOId=4196241&amp;fileOId=4196242">always remain a niche market</a>, more suited to people with no children, or retirees.
Niche, yes, but for some people tiny houses could be a lifeline. Being unable to afford to buy property, fulfil mortgage commitments, or even rent a home can lead to <a href="https://journals.cambridge.org/action/displayAbstract?fromPage=online&amp;aid=1046376&amp;fileId=S0033291706009767" target="_blank">mental and physical illness</a>. In a sustainable city, everyone should be able to <a href="https://www.tandfonline.com/doi/abs/10.1080/0811114032000147430#.VFB38vmUd8E">access affordable housing</a>, and a tiny house is certainly better than no house at all.
<img src="https://counter.theconversation.edu.au/content/32225/count.gif" alt="The Conversation" width="1" height="1">Heather Shearer is research fellow, urban research program at <a href="https://www.griffith.edu.au/" target="_blank">Griffith University</a>.
Heather is a member of the Greens Party, 350 Org and the Tiny Houses Australia Facebook Group. 
This article was originally published on <a href="https://theconversation.com" target="_blank">The Conversation</a>.
Feature picture courtesy of the author.
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po-LsXgBTHBmX

Move over, McMansions – the tiny house movement is here

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For those who don't have time to read Governor Glenn Stevens' full November statement or trawl through the latest figures from the Australian Bureau of Statistics, the Reserve Bank (RBA) has tweeted a visual update on Australia's economy.
<a href="https://www.propertyobserver.com.au/https://twitter.com/RBAInfo/status/529835809172492289" target="_blank"><img src="/images/2014/11/06/tweet-nov-6-one.jpg" alt=""></a>
The infographic also serves as a handy reminder of what the Reserve Bank takes into account when deciding the overnight cash rate, which this month remained at 2.5%.
At 2.3%, inflation continues to stay within the RBA's 2-3% target band, while it keeps an eye on the value of <a href="/expert-insights/investing/how-does-the-aussie-dollar-affect-commercial-property">the Australian dollar</a>.
With the average home now valued at $555,000, the RBA continues to flag increasing <a href="/expert-insights/finance/dwelling-prices-continue-to-climb-governor-glenn-stevens-november-statement">dwelling prices</a>.
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jrichardson-uRX5hFdKfN

Tweet of the day: RBA's economic snapshot

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Over the quarter to September, houses performed better than units in the country's capital cities, according to RP Data.
RP Data's Daily Home Values Index recorded 2.3% growth in house values for the three month period, while units increased by a more modest 1.3%.
The house price growth was largely driven by Sydney's <a href="/expert-insights/investing/sydney-house-prices-streak-ahead-in-september-quarter-rp-data">4.5% quarterly increase</a>, but in the unit market, Adelaide was the best performer.
The South Australian capital recorded a 3.1% increase in unit values. Sydney's unit prices increased by 1.7%, pushed out of second place by Melbourne, with 2.2% growth.
Four of the remaining capital cities recorded a value decrease.
Unit prices in the Northern Territory capital dropped by the largest proportion, with a 4.7% dip.
The quarterly unit price figures:
<ul>
<li>Adelaide</li>
</ul>
Change: +3.1% Median price: $333,000
<ul>
<li>Melbourne</li>
</ul>
Change: +2.2% Median price: $472,000
<ul>
<li>Sydney</li>
</ul>
Change: +1.7% Median price: $590,000
<ul>
<li>Canberra</li>
</ul>
Change: 1.0% Median price: $398,500
<ul>
<li>Brisbane</li>
</ul>
Change: -0.4% Median price: $380,000
<ul>
<li>Perth</li>
</ul>
Change: -3.0% Median price: $450,000
<ul>
<li>Hobart</li>
</ul>
Change: -3.8% Median price: $250,000
<ul>
<li>Darwin</li>
</ul>
Change: -4.7% Median price: $536,200
Source: RP Data.
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Unit price growth outshone by houses: RP Data

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Hotel group One&amp;Only Resorts will manage the Emirates Wolgan Valley Resort and Spa.
The group owned by South African magnate Sol Kerzner has secured management rights of the six-star resort.
It is located 190 kilometres from ­Sydney inside the Blue Mountains world heritage conservation area.
The 40-villa resort will be One&amp;Only’s second Australian management property, after the group secured management rights over Hayman Island resort from Malaysian group Mulpha.
It came after two years of negotiation.
Emirates spent more than $130 million to build the 2009 resort.
Wolgan Valley founding general manager Joost Heymeijer said it was operating in the profit three years after opening.
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jchancellor-FAypfDUnLy

 One&Only Resorts to manage Emirates Wolgan Valley Resort and Spa

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Private treaty time on market blew out again in Brisbane and Perth, according to the latest October figures from Australian Property Monitors.
Only Melbourne and Canberra avoided any deterioration in time on market, but just by a one day improvement.
Sydney and Adelaide enjoyed a marginal weakening, but only by a day.
Sydney was among the capitals where vendor's discounting deteriorated during October.
The Gold Coast stayed the same at 121 days, the longest time required by vendors across the surveyed cities.
But the Gold Coast also achieved a low discounting status of 6.1%, a level that hasn't been seen for many years. 
Click to open in new window: 
<a href="/images/2014/10/29/apm-oct-29-one.jpg" target="_blank"><img src="/images/2014/10/29/apm-oct-29-one.jpg" alt=""></a> 
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Brisbane and Perth time on market October blowout for vendors: APM

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A working Paddington garage has been listed for sale, with the prospect it could become a residential abode.
The almost 100 year old building was once the site of a fire station, complete with horses and water-laden carts.
Three generations of auto mechanics later took the reins, <a href="https://goodyer.com.au/1P2727" target="_blank">the Goodyer marketing advised</a>.
The hillside 1a Ormond Street property has the potential to match the adjoining three and four-storey Paddington home.
There is a heritage listed facade.
It has a 5.8 metre wide by 12.6 metre deep footprint. Owner Les Rechnitzer is selling up after 17 years. Initial buying interest has been expressed at easily over $1 million.
It's listing comes after the recent successful conversion of a private garage in nearby Hopewell Street.
The former Paddington garage transformed into a two bedroom terrace with parking fetched $1.415 million. It had the issue of a de-serviced petrol pit.
The then single storey lock-up garage<a href="https://www.realestate.com.au/property-house-nsw-paddington-113013491" target="_blank"> sold at $822,500</a> in July last year. Positioned between <a href="/expert-insights/buying/transformed-paddington-garage-now-with-residence-atop">adjoining terraces</a>, the then lock up garage occupied its 76 square metre block with a width of 4.6 metres.
<a href="https://www.realestate.com.au/photogallery_new.ds;jsessionid=AD5F9A0E1C4DFC4221F5BDA19ECB4AD6?id=113013491&amp;theme=rea.sold" rel="photos" data-id="113013491"><img src="https://i1.au.reastatic.net/456x342/471c7d6ef95c494be7037f09057f5a8409447d6482edc9286f3754348d813452/main.jpg" alt="19 Hopewell St, Paddington" title="19 Hopewell St, Paddington" data-index="0"></a>
Above: The garage before its renovation.
<a href="/expert-insights/buying/transformed-paddington-garage-now-with-residence-atop">It now has 93 square metres of living space</a>, plus 23 square metres of courtyard along with Centrepoint Tower views.
<img src="/images/phocagallery/2014/09/paddington-sept-23/paddington_0000_j1.jpg.jpg">
Above: The garage after its renovation.
The <a href="/news">Paddington</a> house price median sits at $1.55 million according to RP Data.
The Hopewell Street offering sold through Position Realty agent Deborah Terley with development approval last July and again last month.
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Former fire station turned Paddington mechanics garage listed for auction

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GUEST OBSERVATION
Melbourne is one of the top cities chosen in Australia by property investors from overseas, in particular the Chinese investor. 
Last year, nearly $6 billion was spent on Australian real estate by Chinese investors and Credit Suisse predicts that Chinese nationals will spend around $44 billion on Australian residential real estate over the next seven years. 
Therefore, as more and more Chinese investors cast their eyes towards investing in Melbourne, it will pay to ensure that the real estate agent who is selling your property has a good understanding of, and is well networked with this lucrative buyer market.
Helping to attract wealthy Chinese to Australian shores is the Australian government’s new visa system – the significant investor visa.  Over 90% of the people who have <a href="https://www.bbc.com/news/world-australia-29611137" target="_blank">successfully applied for this visa are Chinese</a>. 
Melbourne already has a large Chinese population. In fact, <a href="https://chinatownmelbourne.com.au/about-chinatown/" target="_blank">Melbourne has the oldest Chinatown in the world</a>, outside of China, and its Chinese population continues to grow steadily and gravitate towards specific areas, with one example <a href="/news">Bentleigh</a>, in Melbourne’s south-east. Over the past three years the Chinese population in Bentleigh has flourished and grown exponentially.  
Chinese buyers heading to Australian shores value the cost of our properties (Australia is still relatively cheap compared to a lot of cities around the world), our good education system, quality of life, public security and clean air. Bentleigh’s attraction to the Chinese buyer lies primarily in its good schools, but also in the attractive large and modern houses it has to offer.
The suburb features a number of excellent primary schools, and is in the catchment area for one of the best public schools in the area, McKinnon Secondary College. Additionally, Bentleigh is attractive to the Chinese investor for its proximity to Melbourne’s CBD (just 12 kilometres away), its good transport links and its access to the Bayside beaches.
For real estate agents operating in areas that are culturally diverse, it is important to have a team that understands the local market and therefore has the ability to effectively target prospective buyers.  Hodges works tirelessly to ensure clients get the best possible outcome for the sale of their property and this means targeting all prospective buyer groups in the local area.
Ultimately, getting the best price for a property is about maximising the number of interested buyers, so therefore given we know what we do about the Chinese investor; it would be negligent not to include them as an important stakeholder group.
It is for this reason that every Hodges Bentleigh property listing is translated into Mandarin and listed on the Gifang.com site. This means our clients are able to tap into a huge market of potential Chinese-speaking buyers that we know are actively looking to buy in Melbourne. Hodges also offers a translation service so that we can communicate with Chinese buyers in Chinese.
There is no shortage of Chinese investors in the Melbourne property market and this is great news for those selling properties in areas that are attractive to Chinese investors. As a vendor it pays to select an agent with a sound knowledge of the Chinese investor market. After all, extending the reach of a campaign to include another layer of buyers will only help to ensure the best price come auction day.
Frank Ruffo is director of <a href="https://www.hodges.com.au/hodgesbentleigh" target="_blank">Hodges Bentleigh</a>.
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Tapping into Melbourne's Chinese investor interest

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As we struggle with a housing market where supply is limited and affordability is under pressure with first time buyers facing an up-hill battle, should we being looking to prefabricated buildings as a bigger part of the solution?
Would the use of prefabricated buildings also speed up the approvals process, deliver projects quicker and save money for the entire industry and community?
We already know that many other industries have had to rationalise the design and manufacture of their products, so why not the housing market?
Certainly according to PrefabAUS the peak body for Australia’s off-site construction industry, the answer is yes and there are many examples of stunning prefab homes being designed across the world. In the USA, prefab has moved into the highrise market.
On their <a href="https://www.prefabaus.org.au/" target="_blank">website</a>, PrefabAUS outlines the organisations mission statement as: “Our mission is representing, showcasing and advancing the industry through collaboration, innovation and education”.
They then go on to suggest that the time for off-site construction has arrived, with ongoing work to grow local knowledge and capability.
The name prefab is short for prefabrication, it’s a snappy and clever way to bring the idea into the modern age of development and I think works well to reposition this section of the market.
However, because there is no up to date or accurate research available, we are unable to judge the extent to which prefab contributes to the housing market. Still PrefabAUS has a wide range of members including manufacturers, architects, suppliers, and engineers with (as might be expected) architects making up the biggest number of members.
This Is Not A New Idea
As PrefabAUS detail on their website the idea dates back to AD43 when the Romans used the technology. In Australia, Corio Villa Geelong was a home prefabricated in Scotland and erected in Geelong in 1855-6, while in 2010 the now familiar name Sekisui Homes, Japan’s largest prefab builder, arrived in Australia.
Lend Lease have completed building the <a href="/expert-insights/buying/docklands-tower-fort-now-the-tallest-timber-residential-building-in-the-world-as-it-tops-out-at-10-storeys">world’s tallest timber building</a> in Melbourne with the use of prefab CLT (cross-laminated timber) panels. For Lend Lease, the success of the project helped the company win the contract to construct the nearby $20 million Docklands Library and Community Centre. Both buildings use CLT panels made of European Spruce. Each panel is 16 metres by 3 metres and they are easy to ship and assemble on-site.
While the Lend Lease Forte Building was the first to use CLT in Australia, the technology is used in many European centres.
Article continues on the next page. Please click below.
<hr class="system-pagebreak">
The Modern Prefab
While the Lend Lease example is a good one, we need to ask if the modern prefab can deliver what buyers want, there has been a lot of work done in this area, in particular overseas with micro-housing and sustainable housing. And there are some great homes made, as on-off container homes.
There is a long history associated with prefabricated design but most current work in this area is helping to deliver what might be market acceptable options. For many decades architects have been designing factory prefab houses that aim to combine the lower costs of mass production but still delivering the buyer a good design and quality construction.
Given concerns over supply and affordability it might now be the time to re-visit the dreams that some planners and architects have of using prefab homes on a mass scale. Because if we avoid complicated construction and find the right balance between quality and price, and the planners embrace the idea, then prefab should have a more mainstream future.
World’s Tallest Modular Building Hits a Hurdle – But The Future is Still one of Promise
However new building methods do not always run smoothly. At the Atlantic Yards, Brooklyn New York, the world’s tallest prefabricated modular tower has run into some problems and according to the New York Times, the modular technology is being ‘dumped’ for the next three towers.
The developers have reported trouble working out all the kinks on the factory floor to deliver a tubular steel chassis of 145 fully equipped apartments. A further three new buildings in the project will be using conventional construction.
According to published reports, after gaining code approvals there has been a learning curve on the project. According to local architects, this was only to be expected. The developers are, according to the New York Times, planning to return to modular construction for future stages.
The New York example simply highlights the fact that any new building method is complicated, you have to change the culture among planners, governments, builders, unions and architects and be an innovator like the Lend Lease example in Melbourne, we need innovation.
More time, more planning and innovation might well be required to see if there is the potential for prefab options to have a transformative effect on the housing market, with the promise of quality, improved affordability and a workable option for developers.
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