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“Minister Chanthivong and his team have shown real leadership in replacing an outdated two-year bond with cover that matches the lifespan of the buildings people are buying into.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

Joel Robinson

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

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

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

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

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

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

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

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

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

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

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

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

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

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

Every First Home Owner Grant for new property by state

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

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

Staff Writer

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

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

alisonwarters@gmail.com

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

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

Ellen Walker

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

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

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

<html><body>
Total dwelling approvals declined 11%, in seasonally adjusted terms, to a 13 month low of just over 15,000 in September, according to the Australian Bureau of Statistics’ latest building approval data.
Tasmania, South Australia and Western Australia recorded an uptick in seasonally adjusted new dwelling approvals in September, at 7.4%, 2.9% and 2.1% respectively. However, drops were seen in Victoria (19.8%), Queensland (8%) and New South Wales (7%).
Detached house approvals dropped by 3% over the month, though are still 7.9% up on the figure 12 months prior. Multi-unit dwelling approvals were significantly weaker over the month, recording a 21.5% fall over the September and a 34.2% drop year on year.
The data represents a potential tipping point in the home building cycle, according to the Housing Industry Association’s (HIA) senior economist Shane Garrett, who notes that dwelling approvals have likely peaked.
 “Monthly approvals reached over 17,000 earlier in the year. During September, we barely hit 15,000,” Garrett said.
“The reduction in new home building is probably an indication of the patchy state of the labour market, as well as increased consumer woes post-federal budget.”
“Recent HIA research shows an annual requirement for 180,000 dwellings to be built each year,” Garrett said.
“The fact that we seem to be drifting below this level of output again is a worrying sign. During the early days of the housing upturn, HIA had been vocal in its calls for policy to facilitate new housing supply to be delivered more readily.”
Master Builders Australia’s chief economist Peter Jones said that despite the drop in approvals they remain confident.
“The residential building upturn looks set to hold at strong levels as apartment approvals ‘take a breather’ after the previous red hot growth phase,” said Jones.
“The 11% seasonally adjusted decline in September was driven by a fall of 22% seasonally in units and apartments due mainly to the longer lead times in gaining approvals for apartment developments and is expected to bounce back.”
Jones said that builders are keen to see lift in approvals for detached houses in order to keep up momentum.
“In the three months to September the number of approvals topped 50,000 for an annualised 200,000 following on from the 194,000 recorded in financial year 2013/14,” he said.
The Urban Taskforce has also expressed concern over the drop in approvals, particularly in New South Wales.
“The apartment market is vital for housing supply in NSW with recent approvals running at around 70% of all homes. Our concern is that the easy sites have now gone and that the more difficult sites will find approvals harder to get. It is important that support for growth at state and local government continues," said Urban Taskforce CEO Chris Johnson.
“Sydney, in particular, must keep the support for new housing as we require 33,200 new homes each year and only completed 22,750 last financial year. While recent improvements in approvals have been positive this latest downturn in apartments is a worry," he said, pointing to the need for a simplified planning system.
</body></html>

jduke-EHk3XBmHkn

Has the home building cycle reached a tipping point?

<html><body>
Darwin investors are earning higher rental yields than landlords in any other Australian capital city, according to RP Data.
The Northern Territory city stands apart from most other capitals, where home values have outperformed rental growth, says RP Data head of research Tim Lawless.
"With rents being substantially outpaced by dwelling values, the rental yield scenario is slimmest Melbourne where the typical house is achieving gross yield of just 3.3% while Sydney's average yields aren't a great deal higher at 3.7%," Lawless says.
"Darwin and Hobart are showing a much healthier yield profile with the typical dwelling providing gross yield of 5.4% and 5.9% respectively."
House rental yields by capital city:
<ol>
<li>Darwin: 5.9% Median price: $570,000 
</li>
<li>Hobart: 5.4% Median price: $330,000 
</li>
<li>Brisbane: 4.5% Median price: $470,000 
</li>
<li>Canberra: 4.2% Median price: $566,000 
</li>
<li>Adelaide: 4.2% Median price: $415,000 
</li>
<li>Perth: 4.1% Median price: $540,000 
</li>
<li>Sydney: 3.6% Median price: $792,000 
</li>
<li>Melbourne: 3.2% Median price: $615,000</li>
</ol>
Rental yields for units are on the next page. Please click below. 
<hr class="system-pagebreak">
Unit rental yields by capital city:
<ol>
<li>Darwin: 6.0% Median price: $536,200 
</li>
<li>Hobart: 5.4% Median price: $250,000 
</li>
<li>Brisbane: 5.4% Median price: $380,000 
</li>
<li>Canberra: 4.9% Median price: $398,500 
</li>
<li>Adelaide: 4.7% Median price: $333,000 
</li>
<li>Perth: 4.7% Median price: $450,000 
</li>
<li>Sydney: 4.5% Median price: $590,000 
</li>
<li>Melbourne: 4.1% Median price: $472,000</li>
</ol>
</body></html>

jrichardson-uRX5hFdKfN

Which capital cities have the highest (and lowest) rental yields?

<html><body>
While the majority of experts predict the Reserve Bank of Australia (RBA) will begin to raise interest rates from next year, the senior economist for Domain Group's Australian Property Monitors, Andrew Wilson, is expecting one more cut.
Every expert in the latest Reserve Bank Survey from Finder, including Wilson, predicted rates to remain on hold today. Of these experts, <a href="/expert-insights/finance/rates-tipped-to-start-rising-in-2015-but-how-long-will-the-cycle-continue">91% expected rates to start rising in 2015</a>, with two expecting hikes from 2016.
Wilson, however, predicts the next cash rate movement to be down, cutting the current 2.5% to a new record low.
He further expects the peak of the next rate cycle to be 3.5% during 2018, with rates to start falling again from 2019.
“Mixed signals remain although bias now turning to the downside,” Wilson explained.
He said that the Reserve Bank is waiting for the general economic climate to crystalise.
With house prices now falling, inflation low, unemployment, a high dollar, a weaker share market and rising concerns over the global economic outlook, Wilson's believes this may push the RBA to make one more cut.
</body></html>

Domain Group's Andrew Wilson predicts RBA will cut rates further

<html><body>
A preliminary weighted average clearance rate of 71.1% was recorded this week across capital cities compared to 69.3% last week and 70.3% this time last year.
<a href="https://blog.rpdata.com/wp-content/uploads/2014/11/20141103-Capital-City.jpg" rel="wp-prettyPhoto[g3924]"><img class="aligncenter size-large wp-image-3925" src="https://blog.rpdata.com/wp-content/uploads/2014/11/20141103-Capital-City-580x429.jpg" alt="RP Data Auction Comments | Capital City" width="580" height="429"></a>
With volumes low in Melbourne due to the Melbourne Cup the main activity in the auction market was in Sydney which had its eighth week with over 1,000 auctions for the year and continued to record above trend results.
The Sydney market continues to strengthen with a preliminary clearance rate of 78.5% recorded compared to 74.8% last week and 75% last year. The improving trend is apparent over the medium term as well with a citywide clearance rate the first ten months of the year of 75.1% compared to 72.5% a year ago.
<a href="https://blog.rpdata.com/wp-content/uploads/2014/11/20141103-Sydney.jpg" rel="wp-prettyPhoto[g3924]"><img class="aligncenter size-large wp-image-3926" src="https://blog.rpdata.com/wp-content/uploads/2014/11/20141103-Sydney-580x389.jpg" alt="RP Data Auction Comment | Sydney" width="580" height="389"></a>
In Melbourne there was a preliminary clearance rate of 68.2% recorded compared to 71% last week and 70.8% this time last year. From a clearance rate perspective the Melbourne market is marginally down on a year ago with a year to date clearance rate of 68.9% compared to 69.6%.
<a href="https://blog.rpdata.com/wp-content/uploads/2014/11/20141103-Melbourne.jpg" rel="wp-prettyPhoto[g3924]"><img class="aligncenter size-large wp-image-3927" src="https://blog.rpdata.com/wp-content/uploads/2014/11/20141103-Melbourne-580x378.jpg" alt="RP Data Auction Comments | Melbourne" width="580" height="378"></a>
In Brisbane a preliminary clearance rate of 47.3% was recorded compared to 46.3% last week. The Brisbane auction market is stronger than a year ago with a clearance rate of 46.3% compared to 41.2%.
<a href="https://blog.rpdata.com/wp-content/uploads/2014/11/20141103-Brisbane.jpg" rel="wp-prettyPhoto[g3924]"><img class="aligncenter size-large wp-image-3928" src="https://blog.rpdata.com/wp-content/uploads/2014/11/20141103-Brisbane-580x376.jpg" alt="RP Data Auction Comment | Brisbane" width="580" height="376"></a>
Adelaide recorded a clearance rate of 61.5% compared to 56.5% last week.
</body></html>

rlarocca-zWhvjay44N

Sydney leads the way: RP Data's weekend auction wrap

<html><body>
GUEST OBSERVATION
Real estate can be a highly rewarding career choice, and may appear tempting to outsiders. People can be drawn to real estate as they may see agents who drive a nice car and dress well, and may have the perception that anyone can sell a house – looks easy, right?
The real estate industry is a dynamic, growing industry; it’s fast paced and can be great fun. It can also pay well for those who are skilled at their jobs and put in the hard yards.
However, a career in real estate can also be very challenging, and it’s certainly not for everyone. Below are several questions I believe you should ask yourself before jumping headfirst into the industry.
Do you have a belief in yourself and do you enjoy dealing with people?
A good real estate agent doesn’t just sell properties — they sell themselves. It’s important to have a strong sense of “self” and show your true personality. Much of a real estate agent’s time is spent socializing, meeting people and building relationships, so you have to enjoy dealing with all kinds of people, all of the time.
The job can be whatever you make of it. People will respond to you if you have a great attitude, are personable and have confidence in your abilities. This is primarily a service business, and serving your clients will contribute to your success. To do this you have to back yourself and be passionate about your role. You need to be a “people person” (or else you will feel like you’re working 10 times harder than you are!) and you need to constantly dedicate yourself to others, following up with clients again and again.
If a client calls, can you drop everything and be attentive to their needs? Real estate is more like a lifestyle than a job.
Do you thrive on hard work that is highly rewarding but rarely slow-moving?
Real estate agents receive genuine satisfaction from helping clients find the perfect home or sell their property at a great price. This is an exciting time for both buyers and sellers, and they look to the real estate agent as the expert to help them manage their way through the process, constantly demanding excellent client service.
However, going through these real estate transactions is generally one of the most stressful times of a client’s life, and you will need to be confident in your skills and abilities when things don’t go as planned. If a client is unhappy, whether it was due to your efforts or not, word-of-mouth spreads quickly and can affect your referral business and, ultimately, whether you succeed.
Real estate agents generally set a day-to-day work schedule but they need to be ready for this schedule to change at a drop of the hat if it is what’s needed to accommodate their clients’ needs. Every day and every hour can also be vastly different, which keeps it exciting and stimulating but isn’t everyone’s cup of tea!
In the end, real estate is about building relationships and providing value — not about selling or buying houses. Homes carry memories and emotional attachments. These are critical emotions for people. It helps to be sensitive and considerate in among all of the activity and if you’re honest, ethical, professional, and determined, you’ll have all the necessary tools to do well in real estate.
It takes a huge amount of hard work, but can be hugely rewarding and never dull.
Article continues on the next page. Please click below.
<hr class="system-pagebreak">
Are you self-motivated and business-driven?
Having a desire to control your own professional destiny and be your own boss is a trait shared by top real estate professionals. To be successful in real estate requires a high degree of self-motivation and smart decision making because as a real estate salesperson, your income is largely dictated by the time you invest and the decisions you make.
I always advise those seriously considering a career in real estate to ask themselves: “Do I have enough savings to tide me over for my first year in real estate?”
The growth potential can be huge but to start out, as in when starting any business, your cash flow can be rather depressing as you learn the ropes, do lots of training, get on the phone for days in/days out, pound the pavement, and the like.
Getting your first sales to come in will take time, and it will likely be a year or more before you start to really enjoy your new career. This is why you must be self-motivated, you must have the drive to succeed and you must exude professionalism despite all the hard work to be successful.
You also need to be enthusiastic and have the right attitude that will draw people to you. You have your own business/personal brand within a business and you make the decisions. You are in charge of building your lead list, maintaining your client’s needs, networking relationships, marketing your business, and managing the day-to-day office needs. It’s all in your hands.
Many new agents fail to recognize how much work it takes to become a successful real estate agent. Couple together hard work, a good attitude and solid work ethic, and there are virtually no limits for the growth of your real estate business. Company principles look for motivated people and you must be motivated to succeed. You are building your business and your own personal brand and you need to work at this every day.
No-one can motivate you but yourself.
Stephanie Hearne has been awarded <a href="https://www.century21.com/" target="_blank">Century 21</a>’s top Australian salesperson for the past three consecutive years.
</body></html>

shearne-jQWd3BDZAp

Do you have what it takes for a career in real estate?

<html><body>
The NSW government would be well advised to start planning immediately to ensure the state's momentum keeps moving forward well into the next decade – failure to do so would clearly indicate that managing the state of NSW is well beyond their capabilities. 
They say success leaves clues, so look no further than the Sydney property market which has delivered the NSW budget a $1 billion windfall thanks to stamp duty and other related property taxes. NSW Treasury has just announced the final result for 2013/14 with a surplus of $1.247 billion – well up from the June budget estimate of $988 million.
The reality is that property prices have started to cool and commodity prices down 20% this year. Hence, it’s time to start fast tracking the next phase of NSW growth with confidence building infrastructure approvals. On current projections, Sydney will (at a minimum) need to double its 1,673,800 homes over the next 50 years – so there is no time like the present to get started – carpe diem.
It’s well documented that massive growth spurts follow new infrastructure developments – former NSW state architect Chris Johnson has forecast that Sydney needs to build 11 new highrise apartment towers each year for the next 50 years to protect suburban life from being ruined by overdevelopment as the city’s population grows. 
“Five thousand new towers, containing 110 apartments each, would provide 550,000 new homes – that will accommodate only a third of our planned population growth over the next 50 years,” said Johnson.
It’s not hard to see where declines are quickly starting to take place with BIS Shrapnel pointing out this week: “The recovery to a net overseas migration intake of 242,800 in 2012/13 was underpinned largely by a rebound in such arrivals. However, with arrivals now trending downwards as resource sector investment slows, net overseas migration flows weakened to 235,800 in the year to December 2013 and monthly indicators since then suggest a further slowing.”
The latest figures from the Australian Bureau of Statistics reveal that Australia’s population increased by 160,000 births over deaths and a further 244,000 people through immigration – which is now the big driver in this demographic. NSW in 2013, had a natural increase of 50,000 extra people, net overseas migration added 68,000 extra people with 15,500 people deciding to reside elsewhere. As Chris Johnson pointed out: “The demographics for Sydney are clear. Growth is coming and is essential for the long-term prosperity of the city. It will keep house prices stable, it will provide jobs, it will support our ageing population and it will position us as a global city.”
Of course a major problem that requires immediate attention is Australia’s public transport which is hopeless given two-thirds of the country’s population resides in the capital cities. Everyone knows that the state and territory have neglected public transport for decades, so you can’t start announcing residential infrastructure initiatives without substantial public transport upgrades.
Cue the blame game between the states and federal government as to where these responsibilities lie. The latest in this ongoing debate is now clearly aimed at reforming Australia’s Federation – although this has major challenges in itself given the “vertical fiscal imbalance” with all the states and territories wanting more of the GST cake portions. This explains why a Federation white paper is being prepared to address Australia’s revenue and spending responsibilities of all governments.
In 2014 -15, NSW will receive 97 cents for every dollar of GST it pays, Victoria will receive 88 cents and WA will receive just 37 cents – so this explains why reforming the state and territories is such a difficult task.
In the case of NSW, you see businesses wanting to get going despite being constantly held back as they await the relevant approvals given NSW does not have a masterplan for development.
 The most obvious case is that in 2013/14 the NSW government pocketed $1.247 billion in taxes for doing next to nothing – just imagine what those revenues might be if they were to announce a residential real estate infrastructure plan? Who knows, first home buyers may even be able to get in given a significant number of apartment developments would actually bring prices down.
The only problem for the NSW government is that it has a long history of living in the past.
</body></html>

robertsimeon-hRNTwJyXkQ

It's time for NSW to stop living in the past and seize the day

<html><body>
A long-term view is a standard requirement for property investors. Easy to say, not so easy to do.
When you own in an area that’s currently going backwards, it’s hard to practice the long-term doctrine.
A second necessity for property investors is to understand well the market you choose for purchase. A third is to know yourself and your financial objectives.
All three of these criteria seem to be missing for many people who buy in towns and regional cities impacted by the resources sector.
It’s a common item in my inbox – an email from an investor who bought in <a href="/news">Muswellbrook</a> in New South Wales or <a href="/news">Mackay</a> in Queensland and is distressed because vacancies are up and rentals are down.
Other locations likewise afflicted include <a href="/news">Emerald</a>, <a href="/news">Gladstone</a>, <a href="/news">Bowen</a>, <a href="/news">Moranbah </a>and <a href="/news">Chinchilla </a>in Queensland; towns of the Hunter Valley as well as <a href="/news">Mudgee </a>in New South Wales; and <a href="/news">Newman</a>, <a href="/news">Port Hedland</a> and <a href="/news">Karratha </a>in Western Australia.
Most of these places are impacted by the same double whammy: resources-related demand went south as developer ambitions went north. In one or two cases, like Gladstone, resources-related demand is as strong as ever, but developers simply went ballistic with new supply.
The result, in all these locations, is high vacancies, declining rents and, inevitably, decreasing property values.
If you own an investment property – or two or three, in the case of some who have contacted me – in these locations, it’s natural to be getting a bit twitchy.
But what about those three criteria I mentioned earlier? I get the feeling many people bought in places like Gladstone or <a href="/news">Singleton</a> without a clear appreciation of the nature of these markets.
Locations where the resources sector is a big part of the local economy always have volatile property markets. Unlike your average city suburb or well-rounded regional centre, they are prone to big peaks and troughs. Long-term the price growth averages can be impressive and you can make high capital gains, but there will be stressful periods along the way.
This refers to another of those criteria: a good understanding of your own temperament. Many people aren’t built to own real estate in volatile markets. They border on meltdown when the market dips below the red line. If they understood those markets and their own inner selves well, they wouldn’t – shouldn’t - have bought there.
I’ve never bought real estate in mining centres because I know I wouldn’t sleep so well.
And that brings us to the most important criteria of the three, the long-term perspective. Someone who bought in a Moranbah or a Bowen without understanding that volatility was likely, and is now freaking out because they weren’t suited to that kind of situation, is prone to blowing their money with a panic cut-my-losses-and-sell response.
Many of the locations mentioned earlier will do well in the future. The resources sector is highly cyclical and the good times will return. Headline-grabbing one-liners like “the mining boom is over” are both silly and short-sighted. Australia has a very big future as a provider of key resources to growth economies, especially in Asia.
Comments coming from credible sources in the resources industry are turning increasingly positive, in terms of better prices for commodities and a return to investment expansion.
Property investors who panic and sell now will lose money. Those who hang in there for the long haul are likely to benefit from future growth.
Here’s a final thought to ponder: the Hotspotting team recently researched long-term capital growth averages across the Australia. The locations with the highest growth rates – average annual rise in prices over the past decade – were all mining towns or regional centres impacted by the resources sector, even with the sharp decline in fortunes in the past year or two.
TERRY RYDER is the founder of <a href="https://hotspotting.com.au/" target="_blank">hotspotting.com.au</a>. You can <a href="https://mailto:ryder@hotspotting.com.au" target="_blank">email</a> him or contact him on <a href="https://twitter.com/hotspotting" target="_blank">Twitter</a>. 
</body></html>

terryryder-YECXbqmri2

Investing in a mining town requires a long-term view

<html><body>
The stellar property run of Australian Idol 2006 winner Damien Leith and his wife Eileen Stapleton has stalled.
Their inner west 1920s Petersham house didn't sell at weekend auction. It was withdrawn and is now available via private treaty.
The four bedroom 133 square metre house, on a 278 square metre block, cost $940,000 in 2011.
More than $1.2 million was tipped ahead of its <a href="https://www.propertyobserver.com.au/https://www.mcgrath.com.au/buy/house-petersham-nsw-2049/239867" target="_blank" style="line-height: 1.3em;">1 November McGrath auction</a>, with the Leiths holding $1.3 million aspirations.<a href="/news/midas-touch-australian-idols-damien-leith-lists-petersham-house"> </a><a href="/news/midas-touch-australian-idols-damien-leith-lists-petersham-house">The couple will be trading up to something larger</a> again.
The musician had enjoyed great private property success since he won the hit singing competition.
In 2009, the Leiths spent $675,000 on a Marrickville house which was sold for $935,000 in 2010.
Their two-bedroom Stanmore unit, which cost $291,000 in 2005, was for rent at $360 a week in 2009, and sold in 2011 for $481,000.
The Sydney home auction market steamed into November at record pace at the weekend despite the Leith result.
Sydney recorded an 82.4% initial clearance rate which was well ahead of last weekend’s 78.9% result which was revised down to 77%.
It was above the 81.2% recorded over the same weekend last year.
Sydney’s lower north was the leading suburban region on the weekend with a strong 89.0% clearance rate with 65 sales from 73 reported results. 
The northern beaches also reported a strong result with 86.5% closely followed by the inner west at 85.8% with the highest number of sales at 103. 
The next best was the upper north shore with 84.1%, while the south followed with 80.7%, Canterbury Bankstown 80% and the city and east with a clearance rate at the weekend of 79.8%.
"Sydney buyers however remain hungry for property with the market bouncing back with vengeance at the weekend," Andrew Wilson, the Australian Property Monitors senior economist said.
Some 883 homes were listed to go under the hammer, which was well ahead of the 753 conducted last weekend and the 739 auctions listed over the same weekend a year ago.
"Auction numbers will continue to surge over the remainder of the year with Sydney set to break the November record for auction activity following record breaking performances over August, September and October," Wilson said.
"Sellers are rushing into the market to take advantage of high competition for property amongst buyers."
The most expensive property reported sold at auction at the weekend was a four bedroom home at 5 Simmons Street Balmain East sold for $6,560,000 by McGrath Balmain.
The most affordable property reported sold at the weekend was a one bedroom unit at 18/8 Hope Street, Rosehill sold for $181,000 by Ray White Parramatta.
It was a split level one bedroom fully furnished serviced apartment, leased and managed by 4.5 star APX Hotel Apartments, situated opposite Rosehill racecourse. The current net rental return is $1,258 per month, reflecting an 8% yield.
</body></html>

jchancellor-FAypfDUnLy

Damien Leith fails to sell Petersham home amid 82% Sydney weekend success rate

<html><body>
Those looking to buy property, usually under strata title such as an apartment, townhouse or villa, will likely hear the term ‘common property’.
Essentially, common property is a term that applies to sections of the residence that are owned by all the owners of that complex. This can cover many things; the driveway into an apartment block is owned by all the apartment owners, thus making it ‘common property’. This means that the responsibility for that driveway, and its upkeep, is jointly shared among those owners as well.
The section that you own that does not share common property is usually called a ‘lot’.
How do I know what is common property?
New South Wales Land and Planning Information explains that in order to determine what is and isn’t common property, you will need to inspect a copy of the registered strata plan and a current search of the common property title. These can be purchased through the government portal in each state or territory (for instance, Western Australia’s Landgate, which refers to them as Survey-Strata Plans and costs $24). The common property title will alert purchasers to any changes in the by-laws that may affect what is and isn’t common property.
Usually, external walls on the sides of the building are common property, as well as the floor and the roof of the entire complex in some circumstances. They are usually identified with thicker lines on the strata plan.
Within the lot itself, the walls from the paint or wallpaper inwards and the floor coverings and upwards are usually the responsibility of the owner – including the fixtures and fittings and often the internal walls. This may include balconies and courtyards, so it’s worth checking. New South Wales Fair Trading notes that, usually, if the strata plan was registered after 1 July 1974, the balcony doors are usually common property.
Common property also covers hidden things in these areas, such as wiring, pipes and other facilities. This can also cover pruning trees and gardening plants that exist on common property and cleaning common areas. Foyers, fences and lifts are usually common property.
Who looks after common property?
As all the owners have a stake in the common property areas, the responsibility lies with every owner. Maintenance and repairs are, therefore, the responsibility of the owner’s corporation. The safety and appearance of the areas must be maintained unless there is a special resolution not to do so (and the safety and appearance is not greatly affected) – usually this is based around the replacement of certain items.
These decisions are usually made at the general meeting of the owner’s corporation. Changes can be made to the by-laws if an owner wants to add something that will enhance the common property for all owners, explains Fair Trading.
However, these additions will be the responsibility of the lot owner – and a by-law is then created – otherwise it will fall on the plate of the owner’s corporation.  For instance, someone may also want exclusive access to part of a garden. To pass the by-law, 75% of the owner’s corporation or more must agree.
Who pays for the common property maintenance?
While the owner’s corporation is responsible, each owner must contribute to ensure the owner’s corporation can keep repairs, maintenance and upgrades up to date. This is usually the case through your strata levies, also known as body corporate fees.
Levies usually cover administration funds and the sinking fund, which pays for maintenance, insurance, budgeted repairs, emergencies and future capital works on the property.
Ask about the sinking fund plan or the ‘maintenance plan’ prior to buying to see what sort of plans are ahead for covering the maintenance of common property. This will alert you to what is ahead to pay for. If it hasn’t been recently reviewed, or carefully done, it may under-estimate what you will need to pay.
Special levies are sometimes used to cover common property, particularly in the case of upgrades. This could be re-carpeting or new paint, or even larger upgrades depending on the wishes of other owners. This is an additional cost, on top of your current strata fees, that may not be welcomed by all owners.
A special levy is often discussed if the sinking fund is not adequate to cover either necessary repairs, due to poor forecasting of maintenance, unexpected costs, or to cover new upgrades. Look into strata meeting details to get an understanding of what may be coming up.
To find these details it is often worth purchasing a strata report, which includes what the current levies are, any special levies, defects and repairs that have been made and plans of the owner’s corporation. For these reasons, professional pre-purchase strata inspectors can be useful.
</body></html>

What is ‘common property’? Investment terms explained

<html><body>
Stockland have announced a prospective 80 to 90 townhouse development in Melbourne’s north-east suburb of Ivanhoe, following the acquisition of a 1.95 hectare former school site.
The development will have frontages to Banksia Street, Jellicoe Street and Wadham Road. The area has been designated as a Residential Growth Zone by the Banyule City Council, allowing for more medium density homes.
There will be six different designs that aim to modernise the traditional Victorian terrace, as well as be thermally and energy efficient.
The townhouses will be two and three storey terraces, with three to four bedrooms. All will have on-site parking, some with two car spaces and some with home offices.
Construction is expected to begin in mid-2015, pending council approval, with sales to begin at the end of 2016 to early 2017. The sales point, while called “attractive”, has yet been released.
Stockland managing director and CEO Mark Steinert said the development is a prime opportunity for the company.
“Ivanhoe is already well serviced by a local train station and bus transport routes, and residents will also enjoy the convenience of local retail and a full range of other public infrastructure services,” said Steinert.
“This acquisition reflects our strategy to diversify our residential business by developing more medium density communities in the inner and middle ring suburbs of our cities.”
</body></html>

Latest Expert Insights

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

Guides

Editor's Picks

Guides

Developments

New apartments

New townhouses

News

Latest Expert Insights

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

Guides

Editor's Picks

Receive the latest news stories to your inbox

Guides

Developments

New apartments

New townhouses

News