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“Minister Chanthivong and his team have shown real leadership in replacing an outdated two-year bond with cover that matches the lifespan of the buildings people are buying into.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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Seven of the 10 most expensive sales of the week were in Victoria, according to RP Data.
But it wasn't enough to push New South Wales out of the top spot, with the <a href="/expert-insights/buying/darlinghurst-apartment-sells-prior-to-auction-for-5-million">$5 million sale</a> of a Darlinghurst apartment in The Residence.
A Federation era Camberwell estate took out the next highest ranking. The four bedroom renovated home sold for $4.45 million.
RP Data's top 10:
<img src="/images/2014/07/04/yellow-one.jpg" alt="">71/18 College Street, Darlinghurst, NSW <img class="img-responsive" src="/images/2014/10/27/darlinghurst_0000_1.jpg.jpg" alt="Darlinghurst apartment sells prior to auction for $5 million"> 
The three bedroom, three bathroom apartment on the 16th floor in the north east corner of The Residence sold for $5 million pre-auction through Laing Real Estate Elizabeth Bay.
It was purchased by the seller for $4.8 million in November 2012.
<a href="https://www.domain.com.au/property/for-sale/house/vic/camberwell/?adid=2011471983" target="_blank"><img src="/images/2014/07/04/yellow-two.jpg" alt="">22 Victoria Road, Camberwell, Vic</a>
 <img src="/images/2014/10/28/2camber.jpg" alt="">
Tavistock was designed by Ussher and Kemp, the prolific Federation era Melbourne architects who made their mark throughout Melbourne's eastern suburbs. The four bedroom, four three bathroom house has been renovated and extended. Each of the bedrooms has built in robes, while the master bedroom has an adjoining nursery or dressing room.
The home has a north facing sitting room with a marble open fire place, a formal dining room and a living area which extends outside to an entertaining deck with a barbecue kitchen and a pool.
It was sold for $4.45 million through Jellis Craig Hawthorn.
<a href="https://www.realestate.com.au/property-house-vic-canterbury-118042839" target="_blank"><img src="/images/2014/07/04/yellow-three.jpg" alt="">19 Victoria Avenue, Canterbury, Vic</a> <img src="/images/2014/10/28/3.jpg" alt="">
This single storey Canterbury home sold for $4 million through Kay &amp; Burton Hawthorn. The period residence, with interiors renovated by Neil Architecture, sits on a 1,200 square metre landscaped plot.
The house features hardwood floors throughout, with multiple living and entertaining areas, four bedrooms, two bathrooms and a study. In the west-facing backyard, there is a pool and pool house.
Vendors paid $706,000 for the house in Canterbury's tree lined Victoria Avenue for $706,000 in 1990.
<a href="https://www.realestate.com.au/property-house-vic-williamstown-117978587" target="_blank"><img src="/images/2014/07/04/yellow-four.jpg" alt="">45 The Strand, Williamstown, Vic</a> <img src="/images/2014/10/28/4.jpg" alt="">
The only Melbourne home west of the CBD to crack to the top 10 this week was a three bedroom Williamstown offering. The bayside house sold for $3,876,000 through Greg Hocking Elly Partners Williamstown.
The 1985 house sits on a 721 square metre plot with 21 metre frontage to The Strand, which runs along the bay. City and bay views are available from almost every room of the home. The house also includes an indoor pool, spa and bar.
Despite its high price, the vendors made a loss on the home, having purchased it in November 2007 for $4,175,000.
<a href="https://www.11malinst.com/" target="_blank"><img src="/images/2014/07/04/yellow-five.jpg" alt="">11 Malin Street, Kew, Vic</a> <img src="/images/2014/10/28/5.jpg" alt="">
A contemporary home in Melbourne's private school belt sold for $3.61 million through Jellis Craig Hawthorn last week.
The four bedroom house on a 627 square metres has limestone floors, wool carpets and double glazed windows. There are three bathrooms, a lounge and dining area with a wet bar and kitchenette, a main kitchen with butler's pantry, home cinema and store room or cellar.
The living and dining area opens via stacker doors onto an outdoor entertaining area via stacker doors, which overlooks a pool.
Vendors purchased the property for $1,225,000 in 2009.
Article continues on the next page. Please click below.
<hr class="system-pagebreak">
<a href="https://www.domain.com.au/property/for-sale/house/vic/st-kilda-west/?adid=2011454310" target="_blank"><img src="/images/2014/07/04/yellow-six.jpg" alt="">356 Beaconsfield Parade, St Kilda West, Vic</a> <img src="/images/2014/10/28/6.jpg" alt=""> After 33 years of ownership, the vendor of this modest two bedroom home sold it for $3.2 million.
The St Kilda brick house on a 296 square metre corner plot is located opposite Catani Gardens and within walking distance of Fitzroy Street. The home has 10.1 metres of frontage.
The home currently has a central living room, a double garage and a private courtyard. It sold through Cayzer Real Estate.
<a href="https://www.domain.com.au/property/for-sale/apartment-unit-flat/vic/toorak/?adid=2011475018" target="_blank"><img src="/images/2014/07/04/yellow-seven.jpg" alt="">2/18 Grange Road, Toorak, Vic</a> <img src="/images/2014/10/28/7.jpg" alt=""> A first floor apartment in Toorak sold for $3.17 million through RT Edgar Toorak. One of three in the complex, the apartment was designed by the late Melbourne architect Wayne Gillespie.
The apartment with ornate furnishings is situated directly opposite the Toorak Village, and features a wide gallery hallway, granite kitchen and a living and dining area that opens onto an entertaining terrace.
The home also includes three bedrooms, a home theatre room and parking for two cars. The sellers bought it in November 2010 for $3.05 million
<a href="https://www.realestate.com.au/property-house-nsw-mona+vale-118267899" target="_blank"><img src="/images/2014/07/04/yellow-eight.jpg" alt="">24 Rednal Street, Mona Vale, NSW</a> <img src="/images/2014/10/28/8.jpg" alt=""> This four bedroom, four bathroom waterfront home sold for $3.15 million through LJ Hooker Collaroy, the first time it's changed hands in 30 years.
The house has a family living area with wet bar, a formal dining area and a formal lounge with a sandstone fireplace. It features an entertaining terrace, a pool, sauna and lawns that extend to the water's edge.
The property also includes a slipway, a boat storage room and a deep waterfront berth.
24 Rednal Street sold after almost a full year on the market. The owners previously listed it briefly in 2006 with a price guide of $2.1 million, and again in 2010.
<a href="https://www.realestate.com.au/property-house-nsw-double+bay-118019155" target="_blank"><img src="/images/2014/07/04/yellow-nine.jpg" alt="">8 Epping Road, Double Bay, NSW</a> <img src="/images/2014/10/28/9.jpg" alt=""> Raine &amp; Horne Double Bay sold this four bedroom, two bathroom house for $3.1 million.
Sitting on a dual access 273 square metre level block, the house opens onto the garden area, with a heated plunge pool. Each of the double sized bedrooms offers direct outdoor access.
The house was purchased by the vendors in March 2001, who paid $1,667,000.
<a href="https://www.realestate.com.au/property-house-vic-black+rock-118039583" target="_blank"><img src="/images/2014/07/04/yellow-ten.jpg" alt="">26 Love Street, Black Rock, Vic</a> <img src="/images/2014/10/28/10.jpg" alt=""> This north facing bayside home sold for $3.1 million through Buxton Sandringham.
The house has four bedrooms and three bathrooms, with a home office and was built by Pascall Projects. The master wing on the home's lower level features a double ensuite with an Apaiser Stone bath and a mirrored dressing room.
The large kitchen has a butler's pantry, while the lower level living space opens to the outside, with a pool, decks and a pond.
Vendors bought the 606 square metre property for $730,000 in 2004.
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jrichardson-uRX5hFdKfN

Victorian prestige homes dominate RP Data's top 10 sales of the week

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Home buyers looking for affordable options on the Gold Coast may not be thrilled to know that the average price for a new apartment in the area is sitting at $812,045, according to Urbis Research’s Gold Coast Apartment Report.
However, there are two new development projects offering apartments for under $400,000.
These projects are:
<ul>
<li>
<a href="https://www.sage-apartments.com.au" target="_blank">Sage</a> in Merrimac (from Minamarc Pty Ltd), pictured above: Two bedroom, two bathroom apartments in stage one from $345,000 to $369,000, averaging more than 90 square metres. 
</li>
<li>
<a href="https://azzuragreens.com.au/" target="_blank">Azzura Greens</a> in Hope Island: A resort complex that offered 159 one and two bedroom apartments, from approximately $330,000 upwards.</li>
</ul>
Sage Apartments sale manager, Elena Marchetti, said that the level of sales and enquiry in recent months have been strong, reflecting upwards growth figures in the median price – with Merrimac’s median lifting to $380,000 (a 25% uptick, potentially due to the new developments in the area), a vacancy rate of 1.03% and an estimated yield at the 6.1% mark.
Sage represents one of the few entry level projects on the Gold Coast and has also seen a high level of investor enquiry.
"The majority of the apartments we have sold to date have been taken up by interstate investors and local first home buyers who wanted an affordable property with potential for growth, in a central location," she said.
"While Sage is considered entry level stock, purchasers are also saying that they are extremely impressed by the high quality of fittings and finishes in the apartments.”
Their display apartment is open next month, with their first building of 24 apartments completed in early-2015. Body corporate fees are $47 per week for some apartments.
Sage Apartments were recently labeled a “Matusik Property Pick” for these seven reasons:
<ol>
<li>Quality stock, well-priced, well-designed. 
</li>
<li>Population growth area, with growth stronger than projected. 
</li>
<li>Undersupply is evident with greatest rental demand for affordable attached dwellings. 
</li>
<li>Strong demand from young rental and first home buyer market, plus locals downsizing. 
</li>
<li>Tight local vacancy rate. 
</li>
<li>Over 67,500 people work in the local area with a strong employment backbone. 
</li>
<li>The Gold Coast market generally is in a recovery upswing.</li>
</ol>
Meanwhile, Hope Island’s Azzura Greens is a resort complex for holiday purchasers, rather than for standard residential buyers.
A few properties are available, such as a two bedroom, two ensuite offering for $357,000 on the top floor. It also includes a car park.
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jduke-EHk3XBmHkn

Two new Gold Coast developments offering sub-$400,000 options

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The recent ANZ Australian Housing Market Update has pointed to a broadly positive outlook for sales and price growth in the coming months.
The depth of home buyer demand in Melbourne was tested over the recent record breaking auction weekend, said ANZ Research’s David Cannington.
“Melbourne’s clearance rate held up well (70.6%), reflecting solid home buyer sentiment,” Cannington explained using RP Data's statistics.
Meanwhile, Cannington noted that Sydney’s clearance rate of 78% was also indicative of buoyant home buyer sentiment.
Analysis of Sydney's weekend auction results differed, <a href="/expert-insights/buying/sydney-october-auction-strength-easing-says-apm-but-rp-data-proffers-otherwise">with APM and RP Data at odds with each other over the market’s movements</a>.
Cannington said that auction clearance rates have eased since their early-2014 peaks, pointing to further moderation in house price growth “in coming months”. However, ANZ remain “cautiously optimistic” in their outlook.
In recent weeks, Sydney, Melbourne and Perth have recorded the strongest growth in home prices, with Adelaide posting lower results. 
“Nonetheless, looking through the weekly volatility, home prices are increasing in trend terms across all capital cities, reflecting a broadly positive outlook for housing sales and price growth in the coming months,” Cannington said.
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Broadly positive house price outlook for rest of 2014: ANZ

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It’s time to lodge your tax returns if you wish to avoid a failure to lodge on time penalty from the Australian Taxation Office, warns BMT tax depreciation specialists’ managing director Brad Beer.
Tax returns need to be lodged by 31 October to avoid any potential late fines.
“For property investors, lodging a tax return is an opportunity to maximise the cash flows on their investment by submitting claims for depreciation deductions on both capital works and plant and equipment,” said Beer.
“Submitting this past 31 October might mean risking a penalty, which could then reduce the net cash flows otherwise derived from the asset,” he said.
The penalty for late lodgement is $170 per 28 day block of failure to lodge. If you haven’t complied with a request to lodge, or have a poor lodgement history, it’s more likely you may be stuck with the penalty.
“One of the cash flows generated by an investment property outside of rental payments comes from the depreciation deductions which are itemised in a professional tax depreciation schedule,” Beer said.
“However, these cash flows will be significantly reduced if investors forget to submit on time and incur one, or even multiple, penalties.”
Beer encourages investors to contact a tax agent if you haven’t yet submitted your tax return, as they may be able to lodge past the 31 October deadline.
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Investor warning: Lodge your tax returns by 31 October

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Josh Rowe is the chief executive of realAs, a property price prediction website and application.
According to Rowe, the <a href="https://realas.com/home/" target="_blank">realAs</a> algorithm, which is constantly being refined, produces predictions which fall within 5% of the eventual sales price. Users are able to compare the realAs prediction with the price guide provided by agents and the final sale price.
For buyers who are frustrated with auctions where prices spiral well above the price guide (and their budget), the application provides an alternative price estimate to that provided by real estate agents.
Property Observer spoke to Rowe about underquoting, and how buyers can navigate the available information to make their own price predictions.
Can you explain the problem of underquoting?
Underquoting is where a real estate agent will give a price for a property which is below what the property is likely to sell for. And it's a marketing tactic.
It's designed to bring people to an auction; to either drive the buyer's up in price, who they might not have captured before, or just get a lot of people there, to drive and get sa real kind of excitement there.
If you walk past a retail store or restaurant and see its busy, you'll be more attracted to it. If you walk past an empty restaurant or an empty retail store, you might keep walking.
What are the costs to the buyer?
I think the challenge for buyers is firstly the amount of time they invest in searching for a house.
And there are so many things a buyer looks for.
They'll spend their time out there going for open inspections, going to auctions. They might do building inspections, spending some cash, understanding what's going on.
So for buyers, when the price goes well above what they've been quoted originally, to outside of their price range, they feel frustrated.
And they're angry. I've spoken to buyers in my own sububrb about what happens when they see underquoting - and some have wasted many months, six months, looking for properties, until they've found one that they've worked out - they've almost worked out the difference between what real estate agents really told them, and what the price was likely to be.
How informed do you think buyers really are about underquoting? Is it an industry thing, or are buyers quite savvy about it?
I think people are aware that underquoting exists. But there's no one percentage that real estate agents underquote by. So that's the biggest challenge.
People might take five to 10 years between purchasing houses. So generally when you've been out of the market for that kind of period, whether you're buying for yourself to live in or buying to invest, you've forgotten that you've lost five years of where the market is up to.
When I talk to my friends about how they research the market, they build their own spreadsheets. They almost do the manual version of realAs, I suppose. They build a spreadsheet up, and they go: "Here's a real estate agent. Right. His name is Fred, agency is this, quoted for this, sold for that".
So they manually go through almost weekend by weekend, just tracking the results, til they go, "Right, this is where the market is at, I can start searching".
So they almost build their own algorithm and database themselves. And that's a lot of effort! Why should they have to do that?
Underquoting is only half the issue. Overquoting in private sales equally as frustrating for buyers too. Real estate agents will start with a high price, and generally over a period of time will move their price down in order to attract a buyer, to a price a buyer is willing to pay. Because buyers are the ones who choose what a house is worth, not a seller.
Obviously building up your own database is a quite labour and time intensive thing to do. What are some other steps buyers can take to protect themselves from underquoting or having their time wasted by that kind of practice?
There are many resources out there.
There are more and more websites out there that are making information more transparent. Some are free - you can go to websites like onthehouse.com.au, you can use websites like RP Data, you can see oldlistings.com.au.
Potentially you could trust a real estate agent who wasn't the seller. And buyer's agents generally have a good understanding of where the market's at as well.
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Underquoting: Q&A with realAs' Josh Rowe

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The eight level, 34-room octagonal-shaped Hotel Saville in South Yarra has been purchased by the production company of Channel 9’s The Block.
The $6.25 million sale had been <a href="/expert-insights/investing/the-block-south-yarra-octagonal-hotel-saville-mystery">suspected since June</a>, but confirmed only late last week with the Watercress Production Pty Ltd settlement documents seen by Property Observer.
<img src="/images/2014/10/24/block%20octagonal%20oct%2024%20four.jpg" alt="">
<img src="/images/2014/10/24/block%20octagonal%20oct%2024%20three.jpg" alt="">
The $6.25 million purchase through Colliers International accompanied the $1.1 million purchase of the nearby 446 square metre vacant block at 270 Punt Road which was used as a hotel car park.
<a href="/expert-insights/investing/on-the-market-hotel-saville-a-piece-of-the-south-yarra-skyline">The property was sold with a permit for 51 apartments</a>, but could be possibly expected to be converted into eight luxe apartments with common areas.
The 3.5 star Hotel Saville of South Yarra, with first floor restaurant, which had been trading under various names since its opened in the early 1970s, closed in August. Quest Windsor was recommended on the sign on the front door.
With 360 degree views, the property is located at<a href="https://rca.colliers.com.au/property-land+development-vic-south+yarra-501125927" target="_blank" style="line-height: 1.3em;"> 1-5 Commercial Road</a>, near busy Punt Road.
The property was marketed by Colliers as a "premium opportunity well suited to residential developers, hotel/motel developers, home owners and investors".
There was brief consideration of its conversion into strata apartments in 2005 by PAZ Investments. Apartments were marketed from $149,000. In 2010 Paras Bros had an option to purchase. In 2011 there was a $16 million proposal by Longreach Investments that involved construction of a new SJB-designed 10 storey building comprising 74 dwellings, 77 car parking spaces and 84 bicycle spaces along with a convenience shop and food and drink cafe with 77 seats that did not get approval.
<img src="/images/2014/10/24/block%20octagonal%20oct%2024%20two.jpg" alt="">
<img src="/images/2014/10/24/block%20octagonal%20oct%2024%20one.jpg" alt="">
Watercress's next series of The Block is on Darling Street, South Yarra.
Their Brenchley Architects plans were lodged for a $2.4 million development application for the <a href="https://www.realestate.com.au/property-unitblock-vic-south+yarra-116269171" target="_blank">South Yarra</a> property (below). It seems set to be the location of the 10th series which will follow the recent The Block Glasshouse series in Prahran.
The current 12-unit block at 27 Darling Street, South Yarra, will be four luxury triple-storey townhouses.
Watercress paid $5.7 million for the Darling Street site.
<img src="/images/2014/10/24/block%20octagonal%20oct%2024%20five.jpg" alt="">
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jchancellor-FAypfDUnLy

Confirmed! The Block makes octagonal South Yarra hotel reservation

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The speed of population growth into Australia has been winding down since reaching a recent annual peak in December 2012 when the national population grew by 1.78% over the year.
With overseas migration moderating and a slowdown in the rate of natural increase, the annual rate of population growth across the country has slipped to 1.69% over the year ending March 2014. The more timely overseas arrivals and departures data indicates that net overseas migration to Australia is continuing to slow down, so we should expect the rate of population growth to continue tapering over the near term.
Across the states there is a third component of population growth; interstate migration flows. The trends of migration flows between the states has been changing over the past few years with the mining states demonstrating a sharp slowdown in both overseas migration flows as well as less net migration across the state borders. Conversely, the non-mining states are seeing a pick-up in interstate migration flows as workers ‘bounce’ back from resources sector jobs that are no longer there.
<a href="https://blog.rpdata.com/wp-content/uploads/2014/10/1-Rolling-annual-change-in-Australias-population.jpg" target="_blank"><img class="aligncenter size-large wp-image-3882" src="https://blog.rpdata.com/wp-content/uploads/2014/10/1-Rolling-annual-change-in-Australias-population-580x120.jpg" alt="1 Rolling annual change in Australias population" width="580" height="120"></a>
The following dashboards highlight the interstate migration flows for each state; what are the overall interstate migration trends, where are the migrants coming from and where are they going to?
<a href="https://blog.rpdata.com/wp-content/uploads/2014/10/2-Net-qtrly-interstate-migration-nsw-vic-qld-sa-wa.jpg" target="_blank"><img class="aligncenter size-large wp-image-3883" src="https://blog.rpdata.com/wp-content/uploads/2014/10/2-Net-qtrly-interstate-migration-nsw-vic-qld-sa-wa-580x120.jpg" alt="2 Net qtrly interstate migration nsw vic qld sa wa" width="580" height="120"></a>
<a href="https://blog.rpdata.com/wp-content/uploads/2014/10/3-Net-qtrly-interstate-migration-tas-nt-act.jpg" target="_blank"><img class="aligncenter size-large wp-image-3884" src="https://blog.rpdata.com/wp-content/uploads/2014/10/3-Net-qtrly-interstate-migration-tas-nt-act-580x120.jpg" alt="3 Net qtrly interstate migration tas nt act" width="580" height="120"></a>
<a href="https://blog.rpdata.com/wp-content/uploads/2014/10/4-Annual-net-interstate-migration-flows.jpg" target="_blank"><img class="aligncenter size-large wp-image-3885" src="https://blog.rpdata.com/wp-content/uploads/2014/10/4-Annual-net-interstate-migration-flows-580x166.jpg" alt="4 Annual net interstate migration flows" width="580" height="166"></a>
Across NSW interstate migration remains in negative territory (in fact there hasn’t been a single period over the ABS historical series where net interstate migration has moved into positive territory in NSW). With a net interstate migration figure of -1,036 over the 12 months ending March 2014, this is the smallest net loss of interstate migrants for NSW on record.
The improved interstate migration figures are largely being driven by an improvement in net migration between Queensland where the net rate of interstate migration was at a record low of -4,786 over the year to March 2014. To provide some context, in 2003 the net interstate migration deficit between NSW and Queensland was just under 26,000.
<a href="https://blog.rpdata.com/wp-content/uploads/2014/10/5-NSW-IM-stats.jpg" target="_blank"><img class="aligncenter size-large wp-image-3886" src="https://blog.rpdata.com/wp-content/uploads/2014/10/5-NSW-IM-stats-453x580.jpg" alt="5 NSW IM stats" width="453" height="580"></a>
Victoria is now the national leader for interstate migration, taking the title away from Queensland since the September quarter last year based on annual net migration figures. Net interstate migration into Victoria is currently at a record high with a net 2,468 more residents moving to the state from other regions of Australia.
Net migrants from NSW were the most substantial interstate contributors to Victorian population growth; however the trend of interstate arrivals from the mining states to Victoria is at record levels and trending higher.
<a href="https://blog.rpdata.com/wp-content/uploads/2014/10/6-VIC-IM-stats.jpg" target="_blank"><img class="aligncenter size-large wp-image-3887" src="https://blog.rpdata.com/wp-content/uploads/2014/10/6-VIC-IM-stats-453x580.jpg" alt="6 VIC IM stats" width="453" height="580"></a>
Queensland is no longer attracting the largest number of net interstate migrants, falling to second position after Victoria since the September quarter last year. Over the year to March 2014 the state of Queensland attracted an additional 5,772 net interstate migrants which is only slightly higher than the previous all-time low of 5,384 net interstate migrants recorded over the year ending December 2010.
<a href="https://blog.rpdata.com/wp-content/uploads/2014/10/7-QLD-IM-stats.jpg" target="_blank"><img class="aligncenter size-large wp-image-3888" src="https://blog.rpdata.com/wp-content/uploads/2014/10/7-QLD-IM-stats-450x580.jpg" alt="7 QLD IM stats" width="450" height="580"></a>
Net interstate migration into South Australia hasn’t changed a great deal over recent years with the quarterly rate of net migrants typically bouncing between -1,500 and -500 over the past decade. The largest portion of state residents are lost to Victoria, where over the year ending March 2014 there was a net interstate loss of 1,827 residents to Victoria.
<a href="https://blog.rpdata.com/wp-content/uploads/2014/10/8-SA-IM-stats.jpg" target="_blank"><img class="aligncenter size-large wp-image-3889" src="https://blog.rpdata.com/wp-content/uploads/2014/10/8-SA-IM-stats-448x580.jpg" alt="8 SA IM stats" width="448" height="580"></a>
 
Western Australia still lays claim to the title of ‘fastest growing state’ with an annual population growth rate of 2.5%, there has been a consistent moderation in the rate of growth since a recent annual peak of 3.72% over the year ending September 2012. WA is still attracting a positive net interstate migration rate, however there were only 256 net interstate migrants to WA over the March quarter, down from a recent high of 3,395 over the March quarter of 2012.
<a href="https://blog.rpdata.com/wp-content/uploads/2014/10/9-WA-IM-stats.jpg" target="_blank"><img class="aligncenter size-large wp-image-3890" src="https://blog.rpdata.com/wp-content/uploads/2014/10/9-WA-IM-stats-452x580.jpg" alt="9 WA IM stats" width="452" height="580"></a>
Net interstate migration into Tasmania has remained in negative territory since late 2010, however the trend is showing some constancy and is now approaching a neutral rate of interstate migration. The last time net interstate migration was substantially positive into Tasmania was between 2003 and 2004 when housing markets were booming.
<a href="https://blog.rpdata.com/wp-content/uploads/2014/10/10-Tas-IM-stats.jpg" target="_blank"><img class="aligncenter size-large wp-image-3891" src="https://blog.rpdata.com/wp-content/uploads/2014/10/10-Tas-IM-stats-453x580.jpg" alt="10 Tas IM stats" width="453" height="580"></a>
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tlawless-5VLUrbAk9s

Interstate migration to Victoria at record highs

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The local newspaper in Newcastle has declared, erroneously, that inner-city units “have piled on more than 20% equity for their owners in the past 12 months”.
It’s a sadly typical case of a non-expert writer misunderstanding and misinterpreting statistics.
What has really happened in Newcastle? The sale of new upmarket apartments has lifted the median unit price. According to Domain, the median price for apartments in the Newcastle LGA has risen 23.6% in 12 months.
The journalist reporting this interpreted it as “Newcastle LGA unit prices have climbed a whopping 23.6%”.
Regrettably, it’s another example of someone writing about a subject beyond their expertise, not that it takes a genius to understand the workings of median prices and how they mislead more often than they inform.
The median price has risen 23.6% but property values have not.
I would delighted if property values had increased that much because Newcastle is a location I’ve recommended to investors over the past couple of years. If people who had acted on that tip had experienced a 20%-plus rise in wealth, I would feel validated. Nothing as strong as that has occurred, however.
I have often said that Newcastle is one of Australia’s most underrated property markets. I see if as an attractive alternative to Sydney for both home buyers and investors seeking affordable real estate is a growth economy with plenty of attractive lifestyle factors.
Newcastle has the world’s largest coal export port and coal is on a downer, but Newcastle has continued to pump because the city has other drivers. There has been big spending on infrastructure in Newcastle and the Hunter region – including the $1.4 billion Hunter Expressway - and there’s plenty more to come, notably in the CBD.
The real estate market has responded with solid growth in property prices. But the market has not jumped 20%-plus.
Caution is always needed when dealing with median prices. Often they’re a comment on the type of property being sold, rather than the movement in values.
If an upmarket project is sold during a given time period in a particular suburb, it will elevate the median price. Conversely, if a budget estate is sold, it may have the effect of pulling down the median price for the suburb, but this should not be seen as a decline in values.
The only way to accurately gauge movements in values is to examine re-sales. I have seen many instances where the median price has decreased at a time when property values are rising – and vice versa.
So it’s plain wrong to tell newspaper readers that owners of Newcastle apartments have had a 20%-plus increase in equity.
The caution consumers should take over real estate statistics extends well beyond median prices (and median rents and median yields). Rubbery figures are bouncing around many of our property markets.
The report on Property Observer this week <a href="/expert-insights/buying/sydney-october-auction-strength-easing-says-apm-but-rp-data-proffers-otherwise">on Sydney auction results</a> is a case in point. Two major data sources put contrasting interpretations on the weekend results. One said the results showed the market rising while the other suggested it was evidence of decline.
The numerous occasions in which commentators have declared the so-called property boom over, on the basis of a single month’s price data from a single source, is further evidence of the perils of misreading property statistics – especially those relating to movements in median prices.
The best way to chart the rise or fall of individual markets is to monitor changes in sales volumes.
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>.
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terryryder-YECXbqmri2

Newcastle figures show why you can't trust median prices

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The New South Wales New Home Grant Scheme was introduced in July 2012 to stimulate the construction of new homes and some 16,474 New Home Scheme grants of $5,000 were paid in its first full year totalling $82 million.
But there was no restriction on its take-up, unlike the schemes that it replaced.
So one mystery Australian investor - or investment company - secured 149 grants totalling $745,000 to assist in their 149 new homes purchases. The total outlay of the investor is not known.
The scheme provided a grant of $5,000 towards the purchase of new homes, homes off the plan and vacant land on which a new home will be built.
Another applicant received 83 of the grants. One local got 56 grants, another 39, another 38 with one buyer receiving 36 and another 31.
Some 21 buyers got six grants, 72 got four, 199 investors got three grants while 1,181 received two. 
All up there were 1,553 multiple local recipients in the first two years, the Daily Telegraph's state political reporter, Andrew Clennell reported.
<a href="https://www.news.com.au/finance/real-estate/foreign-buyers-are-cashing-in-on-nsws-new-home-grant-scheme/story-fndban6l-1226817098977" target="_blank">But despite the fears</a> there were just the 31 overseas multiple recipients, budget documents provided to the upper house revealed.
One overseas investors received six grants, another received five and 21 overseas buyers received two grants.
The investors who seized the opportunity to grab more than one grant secured some $25 million over the past two years.
Changes to the New Home Grant Scheme were announced in the 2014 state budget when Treasurer Andrew Constance stopped overseas buyers accessing the scheme and also put a stop to buyers being able to get multiple grants.
For purchasers to be eligible to receive the grant, the value of the new home must not exceed $650,000 and the value of vacant land must not exceed $450,000. 
The grant is not be available for the purchase of an existing home to knock down and build a new home on the land. 
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Rorting investor's $750,000 property plunge using 149 government grants under NSW new home scheme

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A preliminary weighted average clearance rate of 70.5% was recorded this week across capital cities compared to 68.6% last week and 71.8% this time last year.
This was a strong week for auctions nationally and results suggest that the remaining eight weeks should provide good outcomes for sellers and plenty of choice for buyers.
<a href="https://blog.rpdata.com/wp-content/uploads/2014/10/20141027-Capital-City.jpg" rel="wp-prettyPhoto[g3902]"><img class="aligncenter size-large wp-image-3903" src="https://blog.rpdata.com/wp-content/uploads/2014/10/20141027-Capital-City-580x426.jpg" alt="RP Data auction review | Capital City" width="580" height="426"></a>
In Sydney a preliminary clearance rate of 78.1% was recorded compared to 72% last week and 79.7% last year. After two lackluster weeks the Sydney market has returned to trend.
<a href="https://blog.rpdata.com/wp-content/uploads/2014/10/20141027-Sydney.jpg" rel="wp-prettyPhoto[g3902]"><img class="aligncenter size-large wp-image-3904" src="https://blog.rpdata.com/wp-content/uploads/2014/10/20141027-Sydney-580x382.jpg" alt="RP Data auction review | Sydney" width="580" height="382"></a>
In Melbourne there was a preliminary clearance rate of 70.6% recorded compared to 71.7% last week and 71.9% this time last year. Not only were there a record number of auctions, but a record number of homes sold at auction. The previous high of 1,163 from a year ago was surpassed.
<a href="https://blog.rpdata.com/wp-content/uploads/2014/10/20141027-Melbourne.jpg" rel="wp-prettyPhoto[g3902]"><img class="aligncenter size-large wp-image-3905" src="https://blog.rpdata.com/wp-content/uploads/2014/10/20141027-Melbourne-580x379.jpg" alt="RP Data auction review | Melbourne" width="580" height="379"></a>
In Brisbane a preliminary clearance rate of 50.6% was recorded compared to 46% last week.
<a href="https://blog.rpdata.com/wp-content/uploads/2014/10/20141027-Brisbane.jpg" rel="wp-prettyPhoto[g3902]"><img class="aligncenter size-large wp-image-3906" src="https://blog.rpdata.com/wp-content/uploads/2014/10/20141027-Brisbane-580x378.jpg" alt="RP Data auction review | Brisbane" width="580" height="378"></a>
Adelaide recorded a clearance rate of 55.6% compared to 53.3% last week.
<a href="https://blog.rpdata.com/wp-content/uploads/2014/10/20141027-Adelaide.jpg" rel="wp-prettyPhoto[g3902]"><img class="aligncenter size-large wp-image-3907" src="https://blog.rpdata.com/wp-content/uploads/2014/10/20141027-Adelaide-580x387.jpg" alt="RP Data auction review | Adelaide" width="580" height="387"></a>
In Canberra a clearance rate of 58.3% was recorded.
In Perth a clearance rate of 28.6% was recorded.
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