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“Minister Chanthivong and his team have shown real leadership in replacing an outdated two-year bond with cover that matches the lifespan of the buildings people are buying into.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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As at the week ended 26 October 2014, there were, 51,081 unique new properties advertised for sale and 195,655 unique re-listed properties across the country while the number of new listings were at their highest level since the four weeks ending 23 March 2014. 
Meanwhile, the number of re-listed properties was at its highest level since the four weeks ended 24 August 2014.
We are seeing a ramp-up in new listings at a national level while spring progresses while total listings have risen a little, they are much lower than over recent years.
<img src="/images/2014/10/30/kush-oct-30-three.jpg" alt="">
Across the combined capital cities, the trends are quite similar. Over the four weeks to 26 October 2014, there were 32,706 unique new properties listed for sale and 73,189 unique re-listed properties. Capital city new listings account for 64% of total new listings nationally while capital city re-listings account for just 37% of all re-listings nationally.  
This highlights that capital city stock is being absorbed much quicker than stock in non-capital city regions. As a result the number of re-listed properties is much higher across the regional areas of the country.
Excluding Darwin, new listings increased over recent weeks in all capital cities. The total number of properties advertised for sale also increased over this period in all cities and highlighted an increase in the amount of residential property available for sale.
On a city-by-city basis, RP Data’s latest listings results show that there are many variations and differing trends emerging.  
An ongoing rise in home values in Sydney is being partially fuelled by low stock levels and low mortgage rates. 
Around the remainder of the country:
<ul>
<li>•Melbourne stock levels are quite high. This potentially suggests that the rise in values is perhaps more driven by speculation than a shortage of effective supply levels;  </li>
<li>•Brisbane stock levels are trending lower and in line with a moderate rise in sales and values;</li>
<li>•Adelaide stock levels have reduced, however, the results show a sharp rise over recent weeks;  </li>
<li>•Perth stock levels have been relatively stable now for a number of years;  </li>
<li>•Stock in Hobart is falling as sales volumes rise.  </li>
<li>•Darwin is experiencing a trend towards higher levels of stock available for sale;</li>
<li>•Canberra stock levels are also now rising as the market slows.</li>
</ul>
The number of properties available for sale is likely to broadly continue to rise over the coming weeks, before we see the inevitable slowdown late in December and throughout January as vendors pause their listing activity.  
<img src="/images/2014/10/30/kush-oct-30-one.jpg" alt="">
<img src="/images/2014/10/30/kush-oct-30-two.jpg" alt="">
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ckusher-ujnxiKuFQs

Property listings continue to rise as spring progresses

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A huge shift in net interstate migration has taken place since the financial crisis, a major demographic trend which is a game-changer for this property market cycle, particularly in Sydney. Let's take a look in four short parts.
Part 1 - Mining states slowing...but Sydney booming 
Drilling into the most recent round of demographic data from the Australian Bureau of Statistics confirmed an interesting fact: net interstate migration from New South Wales has declined to its lowest level on record at just 1,036 in the March 2014 quarter.
Typically there has been a very significant population flow away from NSW, especially expensive Greater Sydney, which is comfortably more than replaced by immigrants from overseas and natural population increase. But as the mining construction boom fades so too does the tide of interstate population shift away from Sydney.
The mining states which have benefited most from net interstate migration historically are now no longer doing so - predominantly the maroon line of Queensland (and how!), the gold line of Western Australia (we use state cricket colours, see?) and the red of South Australia (Redbacks? Ah, you have the hang of it now), in that order.
<img src="https://1.bp.blogspot.com/-TqZE7VZ8DeY/VFFcNaz6RgI/AAAAAAAAQ00/_WzKb3KVooI/s1600/NIM.jpg">
Instead an expected rebound in services and construction jobs in Sydney and to a lesser extent Melbourne is seeing a massive boom in the population of those two cities.
Charted below is the annualised rate of population growth by state, which shows New South Wales (+115,000) now threatening to spiral off the top of the chart, with Victoria (+109,000) not too far behind.
<img src="https://4.bp.blogspot.com/-afEmTfIBbSk/VFDtIiTQVCI/AAAAAAAAQzw/ZC_nBRz52Dg/s1600/DEMOG2.jpg">
It never pays to get too aroused by one quarter of data - particularly from ABS releases at the present time! But the population change in the March 2014 quarter showed NSW recording an extraordinary increase of 35,285, potentially implying an unheard of annualised pace of well over 140,000.
In the event, we will not see the state's annual population growth figure scaling such dizzying heights due to the now slowing pace of net overseas migration, with fewer Kiwis and Poms in particular choosing to take the path Down Under at this stage in the cycle. Indeed, most immigrants to Australia now hail from Asia.
Nevertheless, despite the slowing pace of net overseas migration, by the time the June 2014 data rolls around we will probably see New South Wales annual population growth approaching 120,000, which is a huge figure.
<img src="https://2.bp.blogspot.com/-6qzI7bGd7Hs/VFDtI7tCGpI/AAAAAAAAQz0/fNpiDo3qm-s/s1600/DEMOG3.jpg">
Part 2 - Dwelling supply: too hot, too cold...or just right?
There is some some conflicting and some zany market commentary when it comes to the adequacy of dwelling supply in Australia, often involving a preconceived notion ("massive overbuilding" or "chronic undersupply") and the producing of data to support the position.
Sometimes we see analysis of building completions in Australia compared to the existing population, which is an interesting point of comparison, but a clear confusion of stock versus flow.
Much more unusually we see offbeat comparisons of Australian construction versus that seen in certain US states which previously had a cahuna oversupply and now aren't constructing much (relevance?), or on particularly obscure days, comparisons with Japanese construction. 
The slightly boring answer is that there is no chronic undersupply of dwellings in Australia and nor is there massive overbuilding in aggregate, although it is possible to highlights regions and suburbs which represent examples of each.
Property markets are complex and imperfect beasts. If you can analyse and understand data flows it becomes possible to identify specific areas where undersupply will begin to bite, and thus you can comfortably outperform market capital growth averages over time by buying investment property with an element of scarcity value in these locations. 
The data to analyse 
A better starting point is to scrutinise Australian building approvals, dwelling commencements and completions data against the changes in demand in Australia, drawing inferences based upon average household sizes (a little over 2.5 depending on your preferred source) for the regions analysed.
There have been warnings about a potential oversupply of dwellings in Sydney, for example. Travelling around certain parts of town I can see why you might reach that conclusion, but from a macro perspective, you'd be wrong. 
There is something of an oversupply of units looming in a few pockets - in the CBD and inner city, around the airport and inner south, and in a few of the new Urban Activation Precincts (UAPs) around transport hubs, where there will now be fewer height restriction on the building of apartment tower blocks.
Largely bought by offshore investors, these off-the-plan apartments will generally be poor performers and are likely to suffer from falling rents, vacancies, and possibly both.
(As an aside it's often highlighted how most property investor loans written are for established dwellings, but since there are now 9,366,800 dwellings and counting in Australia, and since a high proportion of the new stock is sold offshore, the percentage of domestic investment in established stock will continue to rise. 
Moreover, established properties usually represent better value than most expensive new units and therefore a majority of domestic investors will rationally steer clear of the newly constructed stock in the absence of incentives to do otherwise. In short, we probably do need foreign investors to create supply).
Sure, there are some areas where there are more new flats than willing renters. But ask anyone in the market and they'll tell you that in the lifestyle suburban areas where most people actually want to live, precisely the opposite problem exists - there is a dearth of quality stock and the decent stuff is selling in a matter of days.
Article continues on the next page. Please click below.
<hr class="system-pagebreak">
Part 3 - New stock has come online 
Think back to the annualised population growth figures discussed previously for New South Wales, which are tracking at about 115,000 over the year to March 2014. In the 12 months to June 2014, the state saw the completion of 19,134 houses...
 <img src="https://2.bp.blogspot.com/-9sqF6UvrvTg/VFDtMwvBFQI/AAAAAAAAQ0M/scA_2nrj8wE/s1600/DEMOG6.jpg">
...and only 17,510 completions for unit and apartments.
 <img src="https://1.bp.blogspot.com/-Pey-sa1PVEE/VFDtNSYhAJI/AAAAAAAAQ0U/ltPQkykWxb8/s1600/DEMOG7.jpg">
That's a grand total of 36,644 completions. Given that the state population in the year to March 2014 increased by 114,509, I don't think we need to panic about massive overbuilding just yet.
Completions have not even been high enough to match the demand from the state population growth let alone address previously inherent supply imbalances in Sydney...and that's before we even begin to account for brownfield site demolitions and stock obsolescence.
In fact, if you drill in more closely to the population and demographics data you will find that population growth in New South Wales regional centres has been far below the national averages in all but a tiny handful of localities. Meanwhile Greater Sydney is set to record population growth somewhere in the vicinity of 90,000 in this calendar year.
Part 4 - Decent approvals &amp; supply in the pipeline
In terms of forthcoming supply, it is true that there is more to come in the pipeline. In the 12 months to June 2014, New South Wales commenced 20,000 houses and 25,000 units. And Greater Sydney apartment approvals are now tracking at a little over 26,000 on a rolling annual basis.
That's a decent enough supply response to rising prices, assuming all approvals make it to completion, which they won't.
However the level of monthly apartment approvals peaked way back in March 2014 and is now rolling over. The major developers, who are nobody's dummies, are aiming to have their Greater Sydney new apartment stock completed and sold by December 2015.
<img src="https://1.bp.blogspot.com/-T_iG24vTjOY/VFDtODsprWI/AAAAAAAAQ0c/uz-oy6QHkaY/s1600/DEMOG8.jpg">
Oversupply theory? Doesn't pass the "sniff test".
With the exception of the aforementioned locations, there is no city-wide oversupply of dwellings in Sydney, and nor is there going to be any time soon. 
Inner Melbourne and inner Brisbane are two other areas we can talk about with an apartment oversupply. And, for example, some coal mining towns and regions are likely to experience oversupply too, albeit as result of a collapse in demand rather than overbuilding.
As a Chartered Accountant and sometime auditor, too many years ago now I was trained at accounting college to consider that when people make sweeping yet unsubstantiated claims such as "there is an obscene amount of construction going on in Sydney" then that claim should be weighed up against or made to pass a common sense or "sniff test".
Even if you choose to dismiss vacancy rates as an unreliable indicator, which in Sydney are hovering way below the notional equilibrium position of 3% at just 1.7%, the best "sniff test" for oversupply to my mind is to look for signs of negative rental growth. 
Today apartment rental growth is tracking somewhere between at 3% and 5.3% in Sydney, depending on your data provider of choice.
Over the past 10 years the growth in median rental for detached houses in Sydney has been 80%, and for attached dwellings the equivalent growth in median rental is 77%.
'Nuff said.
You can visit <a href="https://allenwargent.com/" target="_blank" rel="nofollow">AllenWargent</a> property buyers (London, Sydney) or Pete's <a href="https://petewargent.blogspot.com/" target="_blank" rel="nofollow">blog</a>.
His latest book is '<a href="https://www.bigskypublishing.com.au/Books/General-Interest/Four-Green-Houses--and-a-Red-Hotel/1015/productview.aspx" target="_blank" rel="nofollow">Four Green Houses and a Red Hotel</a>' .
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pwargent-M4siyDbqQY

Migration away from Sydney falls to record low

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Banoon, Nathan Tinkler's 385-hectare property near Woodend, an hour north-west of Melbourne, has been sold.
With a crowd of 45, four of the five auction bidders participated after it was called onto the market at $2.1 million.
It sold for $2.56 million. The listing agent had been always advising prospective buyers before today's scheduled 2.30pm auction that it was likely to sell for between $2.1 million and $2.3 million.
The 120 Joyces Road, Monegeeta property was marketed by Keatings Real Estate as an "excellent opportunity to secure a rarely available large inner country, very versatile lifestyle property."
At the end of its mature oak tree entrance driveway, there is a rambling five bedroom 1910 weatherboard homestead. The property has Deep Creek frontage.
Its farming Zone (FZ1) come with subdivision potential into minimum lot sizes of 40 hectares (100 acres) subject to council permit.
There were ambitious $5 million hopes for the property on its 2010 listing. Nathan Tinkler over paid when he spent $3.63 million for <a href="https://www.realestateview.com.au/Real-Estate/120-joyces-road-monegeetta/Property-Details-buy-residential-7669580" target="_blank">Banoon</a> in 2008.
Estate agent John Keating told Property Observer he was pleased with the result after a competitive auction.
Banoon was the last of the scheduled offerings in the Tinkler property portfolio, although the only land sale to date.
The ATO <a href="/expert-insights/finance/nathan-tinkler-horse-stud-farm-sales-come-with-ato-mortgages">has an interest in the outcome</a>.
 
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jchancellor-FAypfDUnLy

Nathan Tinkler sells Banoon, his Victorian rural property 

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Milieu Property’s Whitlam Place, named after Gough Whitlam and launched just prior to his passing this month, is expecting a quick sell out due to the strength of Fitzroy’s property market.
The name comes from the adjoining parkland, Whitlam Place.
The boutique block of 11 apartments is situated on Napier Street and has been designed by Freadman White and Anon Studio. They have created it to suit the historic style of the street.
The apartments range from 44 square metres to 147 square metres, priced from $480,000 to $1.7 million.
<img src="/images/2014/10/31/WHITLAM_4.6.jpg" alt="">
There are three one bedroom and eight two bedroom offerings, with young professional couples and downsizers noted as showing the most interest.
The apartments include terraces, separate storage units and bicycle parking. The two bedders come with two car spaces.
Milieu Property director Michael McCormack said that Whitlam Place is likely to sell out quickly, with their previous Moor Street development selling within four weeks.
<img src="/images/2014/10/31/WHITLAM_4.8.jpg" alt="">
“Our team has brought intellectual rigour, vision and a totally commensurate design philosophy to this project,” McCormack said.
“Our desire to establish Whitlam Place as being in a class of its own has driven every decision we’ve made.”
A warehouse conversion project of five properties, on Carlton’s Waterloo Street, is expected to be launched by Milieu shortly.
<img src="/images/2014/10/31/WHITLAM_4.9.jpeg" alt="">
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jduke-EHk3XBmHkn

It’s time for Whitlam Place: Milieu Property’s Melbourne development

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Following strong demand for the first apartments at Green Square Town Centre, Mirvac and UrbanGrowth NSW are doubling the amount of apartments available upon the second stage release.
They will now offer 174 dwellings to prospective buyers rather than the previously planned 79.
<a href="https://greensquare.mirvac.com/Coming-Soon/Ebsworth/" target="_blank">Ebsworth</a>, in Zetland, includes two building and is the first section of the Green Square development. Upon completion the project is expected to contain 2,000 apartments.
<a href="https://www.mirvac.com/" target="_blank">Mirvac</a> expect fierce competition after fielding more than 4,600 enquiries for the first release.
The apartments are priced from $550,000 for a 42 square metre one bedroom apartment with no parking. Two bedroom, two bathroom apartments with one car park, and three bedroom, two bathroom apartments with one car park are also available.
Those who expressed interest were required to pay a $5,000 deposit for a chance to purchase and then allocated appointment times.
UrbanGrowth NSW chief executive David Pitchford said that Green Square’s level of interest is due to the site's vision for urban transformation and its location 3.5 kilometres from the CBD.
“The community has waited patiently for Green Square to become a reality and now we are ready to deliver,” said Pitchford.
“From the time UrbanGrowth NSW started its journey transforming an under-utilised industrial precinct, we knew there was the potential for a great community at Green Square. This is the beginning of a great city centre with a village feel, a place where people will be able to access a train, public places, cultural amenities and a diverse retail offering,” he said.
Mirvac’s chief investment officer Brett Draffen said that the high level of amenity, in conjunction with the location, will also underpin strong demand.
“The response to the first release of apartments at Green Square mirrors our belief that we are creating the type of new urban community that people truly want to live in,” he said.
Sales begin Saturday 1 November, at 7am. 
Construction is expected to be complete by late 2016.
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Mirvac doubles Sydney Green Square’s Saturday apartment release

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Earlier this week, Property Observer reported on a new survey from ME Bank that recorded 18% of respondents believing they would never be able to afford to buy their own home.
For people aged under 30 and women this<a href="/news/nearly-one-in-five-believe-they-will-never-be-able-to-buy-a-home-survey"> figure rose even higher</a>, to 26% and 21% respectively.
The survey also found that 51% of people expect rises over the next 12 to 24 months, with just 9% expecting prices to fall.
ME Bank general manager asset products, Luke Easton said that many first time buyers are now adapting different strategies in order to purchase a home.
When surveying respondents aged 18 to 29, one trend was clear. This bracket of buyers is keen to work harder, make cutbacks and try new things to get into the market.   
Here are the five strategies young buyers are considering:
<ol>
<li>24% of young buyers are finding ways to save more to purchase property, double the national average of 12% 
</li>
<li>20% are finding ways to increase their income, compared to 11% overall 
</li>
<li>19% would choose a property based on eligibility for a first home owner grant 
</li>
<li>14% would buy jointly with friends and family, compared with just 6% overall 
</li>
<li>12% would change their expectations on size, quality or location, compared to 6% overall</li>
</ol>
Easton said that financial challenges are encouraging creative attitudes.
However, he warned against property speculation.
“Trying to pick the market is impossible and you’re better off focusing on what you can control – saving for a deposit,” he said.
“Similarly, investors would be wise to build their investment strategy based on long-term capital growth and ignore short-term price fluctuations”. 
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The five strategies of young buyers: ME Bank

<html><body><ol>
<li>
A median price is not an ‘average’, and isn’t necessarily even that indicative of prices in an area. It’s the middle price of the set of sales figures available. Essentially that means that an equal number sold below that price as did above – suggesting that cheaper properties have also sold. While median price changes can suggest changes in value, it is often a change in the composition of sales (that is, if an expensive new prestige development is launched, the sales prices are likely to increase. This doesn’t mean that nearby older units have gone up in value). Here’s some more information on exactly <a href="/expert-insights/investing/how-to-determine-the-median-house-price">what a median price is, and how it is calculated</a>. 
</li>
<li>
Looking at sold prices is more effective than looking at ‘for sale’ prices  However, do consider them in concert with each other. What properties have actually sold for is the price that is of most importance to you – particularly when the sale is recent and of a similar property (with similar attributes and in a comparable location). What a property is listed as is not necessarily what the vendor will end up achieving. Some properties go for more or less than their listed price. It’s your job to try and figure out whether it’s worth paying their asking price after all. 
</li>
<li>
It’s worth your time and money to consider the property beyond your initial impressions Think the kitchen is ugly, or the colour is horrendous? Sometimes, the discount you will achieve on the property due to its presentation can easily outweigh the cost to rectify the bad style choices. If the problem is fixable, and cheaply so, then you may be able to get the home of your dreams and for a discount. 
</li>
<li>
Know that there’s another property around the corner  Yes, you love this home – we’ve all been there and done that. However, you will “love again”. If it goes beyond your budget, or is already, it may not be worth another offer. Do not stretch yourself financially to the limit because you become emotionally involved in the home. Ensure you are purchasing with your own financial ability in mind. Be practical. At the same time, if your instinct tells you that the property isn’t right – also don’t ignore yourself and your gut feeling. You need to be comfortable with the purchase that you make in the long run. 
</li>
<li>
Remember that interest rates move  We may be at record lows now but it’s very unlikely these will continue on forever. Ensure you know the impact of a change in rate on your loan, particularly if you’re opting for a variable rate, and know what you can afford. 
</li>
<li>
Inspect more than once if you’re going to make an offer  When searching for a property, you want to pop the hood a few times. That first walk through may have sealed the deal for you, but have you visited in the evening, or during rush hour? Have you listed to the noise from that busy nearby street during peak commuting times? It may not make a difference, but at least you’ll know that property inside out before you make a commitment. 
</li>
<li>
Keep in touch with the real estate agent  Let them know you’re interested (if you’re concerned about appearing “too” interested, say it’s one of a few on your list) and stay in regular contact. You want to know if anything happens to the home – if it’s discounted or otherwise. You also want to know if anything similar to it is coming onto the market or is on their books. Real estate agents may not be working for you, but they can certainly be very useful. Some real estate agents regularly provide sales updates to prospective buyers and sellers – this can all be part of your research. 
</li>
<li>
Don’t forget that the costs don’t end when you’ve purchase  Fixing items, council rates, strata levies and, of course, your ongoing mortgage costs. Running costs and maintenance can significantly affect your finances post-ownership. Make sure you can really afford the property you’re getting – particularly if you’re upgrading from a smaller rental. Your bills are going to be larger, and you may even need more furniture at some point. 
</li>
<li>
Preparation is the key to success Whether it’s pre-approval, and taking those steps to ensure you’ll be able to repay your loan comfortably, or getting a building and pest inspection, success is all in the work before you buy. Plan as carefully as possible, and do your checks and balances. This is not the time for scrimping. 
</li>
<li>
If you lose your job you still need to pay that mortgage  Prepare yourself for if you lose your job – there may be certain insurances worth your while. This is a big financial commitment, and you want to ready yourself for whatever life throws at you. Ensure you aren't stretching yourself to the limit, consider a financial buffer built into your LVR where possible and try to have a contingency plan in the way of repaying extra or savings when you do buy. 
</li>
<li>
Prices don’t always go up  What do you do if you can’t sell in five years time as you may be planning to do? Know what to do if the property price drops to ensure you won’t be left out cold. Can you stay in this property long-term? Be honest about the possibility of prices dropping in the area you’ve selected.</li>
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11 things every first home buyer should know

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GUEST OBSERVATION
Spring is in bloom which means that many Australians are looking to buy property, but what happens if you fall in love with a home and then discover the bank won’t lend to you?  Even worse, what happens if the bank turns you down and it’s your fault?  
Here are five tips to make sure you are properly set up for that home loan.
<ol>
<li>
Check your credit file Some of my clients were recently declined by a mid-tier bank because they had a couple of gas payment defaults on their credit file.  Trouble is, this was the first that my clients knew about it because the defaults related to their old home. Thankfully, we got them approval with a Big Four lender – but it took a lot of work.    All the stress could have been avoided if they had checked their credit file before they applied for a loan. The good news is, it’s free to check your credit file, check out the details on <a href="https://www.mycreditfile.com.au/" target="_blank" title="My Credit File" style="line-height: 1.3em;">mycreditfile</a>. 
</li>
<li>
Get your savings in order Lenders like to lend to people who can show they are responsible with money.  So, they like to see money in an account for at least three months without the account holder having succumbed to the temptation of spending some of it. If say, a relative is going to help out with the deposit, then holding the cash in your account for some time before you apply for a home loan makes it so much easier. I once had a client whose family came from a developing country which was subject to quite a few UN sanctions.  His family were gifting him some money, but getting money out of this country was very difficult, so the money was appearing as odd random cash deposits made all over Australia.  It took me ages to prove to the bank that the applicant wasn’t a drug runner or an arms dealer. Had the cash been ready and waiting in his Australian account for some time then again, it would have been much easier. 
</li>
<li>
Pay your bills as soon as possible When you apply for a home loan, the first thing a bank does is check your credit file. Once upon a time, the credit file just showed if you were in default or had made too many credit inquiries. Now, under a new law, credit files can show who is a prompt payer.  So from now on, it’s in your interest to pay any bill as soon as you can. 
</li>
<li>
Reduce your credit card limit It might boost your ego to have a platinum credit card with a $50,000 limit, but do you need all that money?  When the banks are assessing how much they will lend to you, they will take that credit card limit as money already lent (even if you pay it off every month).  As a result, they may well reduce how much they will lend you based on that limit.  You may want to reduce your credit card limit if you don’t need all that money.  Banks have been known to first request clients to reduce their credit card limit, before giving a final loan approval. 
</li>
<li>
Know your limit Not all banks are the same. For example, if you were a brand new customer and you walked into an ANZ branch then the most they would lend you is 90% of the value of the property (others may go up to 95%) – even if you are a multi-millionaire (it’s just their policy).  You could be a good home loan candidate. But if you just go to your own bank because you think that all banks are the same, you could be in for a shock.  Good brokers know what each bank’s lending policy is and now where you are most likely get home loan approval. 
</li>
</ol>
Graeme Salt is national client finance manager of <a href="https://www.chan-naylor.com.au" target="_blank">Chan &amp; Naylor Finance Australia</a>.
For further information on how Chan &amp; Naylor can help you with your home loan, you can <a href="https://www.chan-naylor.com.au/chan-naylor-finance/" target="_blank">visit their website</a>. 
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Five tips to set you up for your home loan

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Flemington isn't the only location with a important meet scheduled for Tuesday 4 November; The Reserve Bank Board will also assemble to discuss any potential movements in the official cash rate.
While November has been a remarkably popular month for the bank to move rates, Westpac's Bill Evans says there is no chance of a November move.
Westpac expect the statement to repeat key phrases: “the exchange rate... remains high by historical standards”; and “the most prudent course is likely to be a period of stability in interest rates”.
Evans recalls that in the first six years of RBA Governor Glenn Stevens’ tenure (2006-2011), November proved to be a month of moving interest rates. In 2012 the Bank was certainly ‘in play’ with moves occurring in both October and December while, arguably, the Bank was also ‘in play’ in November last year.
On recent house price inflation, Evans suggests the recent slowing from its late-2013 pace might be easing the bank's concerns around the property market. 
"There is still likely to be some RBA/APRA package of initiatives announced before year’s end but, given the authorities do not appear to be inclined towards ‘heavy handed’ actions and the flexibility of Australia’s financial system, particularly around an active non-bank sector, it seems unlikely that these moves will have a marked effect on the availability of credit overall," he advised.
Westpac is expecting 50 basic points of hikes in the latter half of 2015 and a further 100 basic points in 2016.
"Back in March we were quite out of step with the economics community. 
"We did not expect the RBA to begin hiking until August 2015, whereas 60% of forecasters expected rate hikes by the March quarter and 15% expected rate cuts. 
"All those rate hawks have been forced to revise their views. 
"The latest survey indicates that 85% of economics forecasters are still predicting higher rates by end 2015 (with 50% expecting hikes to begin in the June quarter – but expect that proportion to dwindle by year’s end). Only 15% (four forecasters) are pushing the market’s line. 
"Unusually we find ourselves buried in the economists’ consensus."
Bill Evans, the chief economist also delved into The Melbourne Cup.
"Some will be aware that we have picked the winner of the Melbourne Cup in two of the last three years," he said.
"This year we are reasonably confident that we can find yet another winner in Admire Rakti.
"This Japanese horse ran by far the best trial for the race with its storming win in the most reliable lead up race for the Cup – the Caulfield Cup.
"Arguably, Japan produces the best stayers in the world – even ahead of their Irish counterparts.
"Who can forget the last time Japanese horses ran in the Cup?
"That was in 2006 when the Japanese horse Delta Blues beat his Japanese compatriot Pop Rock by the narrowest margin (just half a head) with a massive four and a half lengths to the next horse.
"However, Admire Rakti has other history going against him. He is likely to be around 5:1 odds on the day. That will make him favourite.
"No favourite has won the race since Makybe Diva in 2005 and no horse has won the Caulfield Cup/Melbourne Cup double since Ethereal in 2001.
"He will also have to carry 58.5 kilos (top weight) – average weight of the winner in the last decade has been 54 kilos. No horse has won with such a weight since the 1970s.
"There are also unofficial reports that the horse is not considered to be in the top 20 horses in Japan.
"Other contenders are: Protectionist (the German champion) and Lucia Valentina (beaten favourite behind Admire Rakti in the Caulfield Cup).
"The English ‘raiders’ headed by Red Cadeaux look to be an ordinary lot this year.
"In fact the clear danger from my perspective is Fawkner, surprisingly an Australian horse, who ran a mighty 2nd in our other key lead up race – the W S Cox Plate (Fiorente, last year’s winner ran third last year).
"As always, the usual disclaimers apply – “this does not constitute investment advice ... etc etc” (see pages 12-13 for more).
"But good luck and at least be consoled by the fact that your study will not be disturbed by any surprises out of the Reserve Bank which announces its decision 30 minutes before the big event!"
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Admire Rakti or Fawkner, but no RBA Cup Day movement: Westpac's Bill Evans

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Heading to an auction to purchase a property can be an exciting time for any home buyer or investor, however, if you want to avoid a number of “nightmare” scenarios then you need to research carefully.
EPS Property Search’s Patrick Bright, who wrote the Insider’s Guide to Saving Thousands at Auction, said with the practice of underquoting widespread  in Sydney and Melbourne, it’s more important than ever to do your research.
“As soon as searching for a property becomes a major chore, people tend to start cutting corners on the research that’s needed just to get the process over and done with,” said Bright. You don’t want to be that person.
“Remember a property is likely to be one of the biggest purchases you will make in your life,” he said.
“From my experience in reading hundreds of building and pest reports, around one in three properties have what I would regard as significant structural damage, and or, pest issues that you need to take into consideration when making an offer.”
He recommends researching 100 properties ahead of time.
 “Researching 100 properties may sound like a lot of work but it’s really only 10-12 properties a week over a 10-week period,” said  Bright.
“Given that this work will save you tens if not hundreds of thousands of dollars I would think it’s a very worthwhile investment of your time.”
So what are the major traps you can get caught in? Here are his four nightmares and how to avoid them:
<ul>
<li>Getting carried away</li>
</ul>
Everyone wants to be a winner and unfortunately auctions can turn into an expensive game or an ego play for inexperienced and highly emotional bidders. The problem is that one extra bid can easily turn into a handful of extra bids which could result in you paying a price above fair value and beyond your financial means.
If you’re the type of person who could get carried away in the moment then engage a trusted friend or family member or a professional buyers’ agent to bid at the auction on your behalf.
<ul>
<li>Forgetting the selling agents’ role</li>
</ul>
You need to always keep in mind that the selling agent is acting in the best interest of the seller not the buyer. On auction day, don’t let the selling agent pressure you into increasing your bid if the auction stalls.
If you’re the highest bidder and the property isn’t on the market, then allow the property to be passed in and start your negotiations in the post auction environment. Stay focused on the job at hand in order to avoid bidding against yourself at auction.
I witness this happening quite often and in speaking recently with two auctioneers with over 40 years’ experience between them they estimate it happens at roughly one in three auctions.
Typically the highest bidder gets caught up in the moment of the first call, second call and ends up bidding against themselves through fear of missing out as they are not sure if they are the highest bidder at that time.
<ul>
<li>Over-extending yourself</li>
</ul>
Follow my 20-25-20 rule which is a 20% deposit and no more than 25% of your income in repayments over a 20 year loan.
When purchasing a home or investment property you should always aim to put down at least a 20% deposit so that you avoid paying mortgage insurance and have some equity in your property.
I call this “the ability to sleep peacefully at night buffer”. That way you know that you and your family can cope if unexpected financial challenges arise.
<ul>
<li>Ignoring property inspections</li>
</ul>
You’ve already paid for pest and building inspections on two previous properties that you’ve missed out on buying. You’ve found another property and you’ve convinced yourself that you don’t need the checks on this one.
You start thinking these inspections aren’t really necessary. Wrong! You absolutely need to know what you’re buying into.
The property may be termite infested, the construction may be shoddy or the wiring and plumbing may be faulty. Any of these major faults will costs significant dollars to fix and this expense should be factored into the equation when working out your maximum bid figure prior to auction.
Source: Patrick Bright
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