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“Minister Chanthivong and his team have shown real leadership in replacing an outdated two-year bond with cover that matches the lifespan of the buildings people are buying into.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 a first home buyer, it's sometimes hard to figure out how you compare to others in the same position.

Are you spending way more than you should and overcommitting yourself? Or are you trying to scrimp and eyeing a property that most buyers, first timer or otherwise, wouldn't touch?

If you're planning on laying money down for your first purchase, you have to be realistic about how much you can spend. You may be able to save up for a deposit on a $650,000 house by eating baked beans every night for a year, but that's not a sustainable way to live.

Once your mortgage payment obligations start, they don't stop - not if you decide to get married, or have a baby, or get sick. So be honest with yourself about what you can afford.

[smartcode_project:default project_id=29048]

The Australian Bureau of Statistics (ABS) gathers data on different segments of the market, including first home buyers. According to the ABS, the average loan size for a first time buyer in July this year was $307,400.

Adding an assumed 10% deposit, that brings the typical first home buyer price to an estimated $338,140 (though remember, those <a href="/expert-insights/buying/what-does-a-home-really-cost-for-a-first-time-buyer">aren't the only costs</a> associated with buying your first home). While the ABS figures can allow you to make a rough guess at what others are spending, remember - there is no one particular loan size, l<a href="/expert-insights/investing/what-level-of-gearing-should-i-accept-for-my-first-investment-ask-margaret">oan to value ratio</a>, or finance scheme that fits everyone. 

It's important to note that our $338,140 is a national average, and prices vary from city to city. For a more specific breakdown, see what Property Observer's expert contributors <a href="/expert-insights/buying/exclusive-first-home-buyer-picks-from-the-experts">picked around Australia</a>. 

[smartcode_project:default project_id=8082]

So what exactly will $338,140 buy you?

In Melbourne, that might get you a one bedroom apartment like <a href="https://www.realestate.com.au/property-apartment-vic-flemington-117540416" target="_blank">this one</a>, located three kilometres from the CBD in Flemington. The lowrise apartment pictured below sold for $340,500 in August.

<img alt="" src="/images/2014/09/19/1.jpg">

Showing just how much things change a mere 3,400 kilometres away, in Perth's Balga you can pick up a <a href="https://www.realestate.com.au/property-house-wa-balga-116930007" target="_blank">three bedroom attached house</a> for $340,000.

 <img alt="" src="/images/2014/09/19/2.jpg">

If the average first home buyer across Australia is paying around $340,000 for home, does that mean you should too?

Not necessarily. Prices, household incomes and living costs vary all across the country - what might work for your friend in Balga may not be such a wise decision in Sydney. You might be better off waiting until you can afford a property that offers good capital growth.

Perhaps you're wondering what the first home buyer market was like five years ago (or how much easier your older brother had it).

In July 2009, the average loan size to a first home buyer was $269,100 - meaning the average first home buyer commitment size has increased by 14% over the past five years. According to the ABS, the proportion of first home buyers in the market was higher then, with 25.7% of all homes financed in July 2009 belonging to first time purchasers.

[smartcode_project:default project_id=28487]

First home buyers make up less than half of that proportion of the market now: only 12.2% of all dwellings financed in July 2014 were first home purchases.

Some think the apparent decline in first home buyers is the result of an increasing unwillingness to overcommit on housing - or to commit at all. Others believe the ABS needs to revise its methods.

There's no single number that represents how much a first home buyer should spend. But if you're purchasing your first home, be realistic and know your limit.
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jrichardson-uRX5hFdKfN

How much should you spend on your first home?

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GUEST OBSERVATION
The unemployment rate is one of the most closely followed macroeconomic indicators.
Of importance in its own right, it tells us about the level of spare capacity in the economy and provides information about likely future developments in inflation.
Recent fluctuations in the unemployment rate have surprised many economists. In July, the unemployment rate jumped by 0.3 percentage points to 6.4% – its highest level in twelve years – only to be unwound in the August release.
<a href="https://62e528761d0685343e1c-f3d1b99a743ffa4142d9d7f1978d9686.ssl.cf2.rackcdn.com/files/59385/area14mp/gndjq2sw-1411017659.png"><img src="https://62e528761d0685343e1c-f3d1b99a743ffa4142d9d7f1978d9686.ssl.cf2.rackcdn.com/files/59385/width668/gndjq2sw-1411017659.png" alt=""></a> ABS
The sharp increase in July may partially reflect measurement issues - the Australian Bureau of Statistics (ABS) updated the criteria to be actively searching for a position, although the ABS said the impact of this change was not significant.
The unwinding of this spike in unemployment in August was due to a surge of part-time employment – in fact the largest growth rate since the mid-1980s. The increase was so large that the ABS extensively checked the figures. However, the lift in part-time employment was evident in many dimensions of the data – it occurred both across the country (with the exception of the Australian Capital Territory) and across many age groups.
<a href="https://62e528761d0685343e1c-f3d1b99a743ffa4142d9d7f1978d9686.ssl.cf2.rackcdn.com/files/59386/area14mp/c33bsqdg-1411017876.png"><img src="https://62e528761d0685343e1c-f3d1b99a743ffa4142d9d7f1978d9686.ssl.cf2.rackcdn.com/files/59386/width668/c33bsqdg-1411017876.png" alt=""></a> ABS
Amidst this considerable volatility, it is probably best to focus on estimates of the “trend” unemployment rate, which is also advocated by the ABS. The trend measure effectively smooths the data, down-weighting the recent observations.
However, trend estimates aren’t perfect – for example, as more data become available they can be revised. Also, by down-weighting the recent data they can miss turning points which policymakers might have otherwise wanted to react to in a timely manner. Bearing these caveats in mind, the trend unemployment rate in recent months has moved higher.
<a href="https://62e528761d0685343e1c-f3d1b99a743ffa4142d9d7f1978d9686.ssl.cf2.rackcdn.com/files/59387/area14mp/cc8z98s6-1411018041.png"><img src="https://62e528761d0685343e1c-f3d1b99a743ffa4142d9d7f1978d9686.ssl.cf2.rackcdn.com/files/59387/width668/cc8z98s6-1411018041.png" alt=""></a> ABS
At around 6%, the trend unemployment rate suggests that slack exists in the labour market. Similarly, the trend participation rate – the ratio of people in the labour force (either employed or unemployed) to the population – recently has picked up, but remains below the levels of the late-2000s.
Structural issues
While as discussed in a speech by Reserve Bank of Australia Assistant Governor <a href="https://www.rba.gov.au/speeches/2014/sp-ag-160614">Christopher Kent</a> part of the decline in the participation rate probably can be explained by structural factors, such as the ageing of the population, a component is likely to be cyclical.
Recent <a href="https://www.rba.gov.au/publications/bulletin/2014/sep/pdf/bu-0914-2.pdf">Reserve Bank of Australia</a> model-based estimates also suggest that spare capacity currently exists in the labour market, but much less than occurred during the early-1990s recession. The Reserve Bank study also highlights the considerable uncertainty which surrounds these estimates.
The unemployment rate is a narrow measure of labour market slack – it abstracts both from people working fewer hours than they would like, or in a position that does not fully utilise their skills. The ABS tackles the first aspect in its measure of labour force underutilisation. As it is a broader measure, the labour underutilisation rate is always greater than the unemployment rate, although the wedge between them widened in the early 1990s recession.
<a href="https://62e528761d0685343e1c-f3d1b99a743ffa4142d9d7f1978d9686.ssl.cf2.rackcdn.com/files/59390/area14mp/nzfpfzym-1411018671.png"><img src="https://62e528761d0685343e1c-f3d1b99a743ffa4142d9d7f1978d9686.ssl.cf2.rackcdn.com/files/59390/width668/nzfpfzym-1411018671.png" alt=""></a> ABS
We’re getting more ‘flexible’
This wedge widened with the onset of the global financial crisis, unwinding some narrowing in it which had occurred. An important part of the macroeconomic adjustment that occurred in Australia during the GFC was a reduction in average hours worked. This mitigated the rise in the unemployment rate and probably was facilitated by the more flexible nature of the labour market today relative to in the past.
The increase in the labour underutilisation rate over the past eighteen months has outpaced that in the unemployment rate. In the September quarter it exceeded the levels reached during the GFC, although it remains well below the high levels reached during the severe early-1990s recession.
The rise in labour underutilisation has not been uniform across all parts of the labour market. While typically labour underutilisation is much higher for those aged 15-24 compared to those 25 and above, and it increases sharply during either recessions or slowdowns, recently it has risen noticeably.
<a href="https://62e528761d0685343e1c-f3d1b99a743ffa4142d9d7f1978d9686.ssl.cf2.rackcdn.com/files/59392/area14mp/qf49y4bk-1411019346.png"><img src="https://62e528761d0685343e1c-f3d1b99a743ffa4142d9d7f1978d9686.ssl.cf2.rackcdn.com/files/59392/width668/qf49y4bk-1411019346.png" alt=""></a> ABS
The unemployment rate and the labour underutilisation measures show slack exists in the labour market, but much less than in the early 1990s. This slack is likely to hold down wages growth.
Private sector wages growth over the year to the June quarter was the lowest rate since the measure preferred by policymakers was introduced in the late 1990s. As wages, together with productivity, are the key factors which influence domestically-based inflationary pressures, these are likely to remain contained in the near term.
Tim Robinson is a research fellow at the Melbourne Institute, University of Melbourne<a href="https://theconversation.com/institutions/university-of-melbourne"></a>.
Tim Robinson is on extended leave without pay from the Reserve Bank of Australia. The views expressed in this article are his own.
This article was originally published on <a href="https://theconversation.com" target="_blank">The Conversation</a>.
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po-LsXgBTHBmX

What's really happening with the unemployment rate?

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Genworth’s Homebuyer Confidence Index has risen 7.3 points in September, largely as a result of low interest rates reducing mortgage stress.
First home buyers that purchased over the past 12 months were significant contributors to the lift in confidence, at a high not reported since September 2012, while mortgage stress in general is significantly lower.
In fact, the index recorded that mortgage stress experienced by home owners has almost halved – falling to 15% in September from 28% in March.
Meanwhile, 2% of home owners were reported as behind their mortgage repayments, compared to the three year average of more than 3%.
Genworth Australia chief commercial officer Bridget Sakr said that they suspect the increase in confidence is a result of 13 months of historically low interest rates, as well as increased certainty around the May federal budget and the health of the economy.
“Almost half of surveyed home owners said they increased their mortgage buffer by making overpayments during the past 12 months,” said Sakr.
“Interest rates have virtually disappeared as a source of mortgage stress with just three per cent of struggling homeowners now citing this as a key factor of mortgage stress compared to 50% in September 2011.”
However, the Index also found a slightly increase in those who did not believe now was the time to buy, <a href="/expert-insights/buying/now-is-not-a-good-time-to-buy-a-sydney-or-melbourne-home-westpac-confidence-index">mirroring the results found by the Westpac Melbourne Institute Index of Consumer Sentiment</a>.
Sakr said this is potentially a result from an increase in property prices.
“While the Genworth Homebuyer Confidence Index has returned to a positive result overall, dwelling value growth of late and the ongoing challenge of saving a deposit means that many prospective first homebuyers are still finding it difficult to enter the property market,” she said.
The index is a survey of more than 2,000 Australians, which asks about the proportion of monthly income used to service debt, comfort levels around LVRs, repayment over the past 12 months and future 12 month expectations.
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jduke-EHk3XBmHkn

Mortgage stress has halved, just 2% behind on repayments: Genworth

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Despite the Reserve Bank of Australia’s concerns about the housing market’s price growth, it appears that not all are changing their predictions of a period of rate stability and macro involvement isn’t on everyone’s radar.
Westpac’s chief economist, Bill Evans, has noted in their latest bulletin that they are not altering their rate forecast – expecting the first hike to be in 2015.
He notes that they expect the rise to be in 2015’s September quarter, driven by a global outlook, modest lift in consumer spending momentum, non-mining investment and a falling unemployment rate.
While house prices and credit growth are also expected to also be rising, he says it will not be at a sufficiently rapid pace to trigger a rate increase.
However, Evans does note that the RBA is likely to either maintain or step up its public warning around housing prices and investor activity.
“A reasonable conclusion is that Australia is unlikely to introduce the New Zealand style of direct macro prudential controls,” he said.
He noted that APRA may lift its intensity of communication to ADI boards and even impose another round of stress testing, though it’s conceded that banks already regularly conduct stress testing.
“It seems unlikely that, at this stage, it would adopt the policies of 2003 where it raised the risk weighting on home loans and increased the capital requirements of mortgage insurers,” he said.
His notes suggest that the current boom is not a replica to that of the early 2000s, despite its similarities.
“The 2000-03 period bears some comparison with the current situation. In that earlier period annual growth in credit to investors peaked at 30% and overall housing credit  growth peaked at 22%,” he said.
The household debt ratio had risen by “26ppts in just two years” and lending standards were seen to have eased.
However, compared to the current environment, clear differences emerge.
“Currently annual credit growth for investors is running at 8.9% with the 6mth annualised pace at 9.5%,” he said.
“Overall housing credit is running at a steady 6.7% annual pace. The household debt to income ratio has risen 4ppts over the last year and remains below its peaks in 2010 and 2007.”
While the debt to income ratio level is higher than it had been in 2003, he notes that they believe this understates the extend of Australian households’ deleveraging since 2007, including accumulating funds in offset accounts.
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RBA’s bubble warning has not changed ‘on hold’ prediction: Westpac

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The first prospective Super Saturday of spring has emerged in Melbourne in the lead up to Grand Final weekend.
Melbourne has 987 auction offerings, according to Australian Property Monitors, which just falls short of the requisite 1000-strong tally of the so-called Super Saturday status, although the REIV count has a higher tally of 1,100 auctions and <a href="/expert-insights/buying/melbourne-gears-up-for-1-000-plus-auctions-rp-datas-weekend-preview">RP Data's count is 1,090</a>.
That REIV figure is across 261 suburbs, including Geelong and the Mornington Peninsula which are not included in the APM list. 
But Sydney will certainly have one next weekend with 700 on offer.
Melbourne's 987 is up 17.5% on the same Saturday last year, according to Australian Property Monitors, and a record offering for any September Saturday.
"The record pre-Grand Final weekend for auction activity will certainly provide the robust and resilient Melbourne spring market with its biggest test so far," the APM senior economist Andrew Wilson said.
The REIV says it is the highest number of auctions since the weekend of 30 May/1 June.
The top auction locations this week are Hawthorn (22 auctions), Reservoir (20 auctions), and Kew (18 auctions). 
<div>Sydney has 609 scheduled auctions this weekend which is 13.1% up on the same Saturday last year.</div>
<div> </div>
<div>Melbourne has had seven 1,000 plus auction Saturdays so far this year, according to APM. </div>
<div> </div>
<div>There were six 1,000 plus weekends last year in Melbourne, with five of them during the spring selling season through to December 2013.</div>
<div> </div>
<div>The Melbourne auction volumes drop to fewer than 50 on AFL grand final day.</div>
<div> </div>
<div>
With five Saturdays, the Sydney market recorded its busiest-ever auction listings for an August.
</div>
<div> </div>
<div>This weekend's 609 offerings jumps to 700 plus next weekend, as it heads towards its NRL Grand final weekend slowdown on the October long weekend.</div>
<div> </div>
<div>Sydney's auction volume needs to be at 650 plus to warrant the super Saturday hype.</div>
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jchancellor-FAypfDUnLy

Super Saturday for Melbourne auctions, sort of, but Sydney for certain next Saturday

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Fans and skeptics alike will have the chance to have a stickybeak around the country's most famous office conversion this weekend.
The Block Glasshouse at 121-127 High Street Prahran will be on show on Saturday 20 September and 21 September from 10am to 2pm.
<img src="/images/2014/08/25/masterchris.jpg" alt="">
The public can poke their heads into Chris and Jenna's <a href="/expert-insights/building/the-block-room-reveals-martyrs-mavericks-and-master-bedrooms">curious copper-walled bedroom</a> (above), climb atop Carlene and Michael's <a href="/expert-insights/building/block-glasshouse-newbies-reborn-with-perfect-score">raised shower stage</a> (below) and loiter in the rather <a href="/expert-insights/building/will-buyers-agree-with-the-judges-on-the-block">lacklustre laundries</a>. 
<img src="/images/2014/08/11/block%20michael.jpg" alt="">
They will also have the opportunity to check out the rooms that haven't been revealed on television yet - though people can already take a peek at Chris and Jenna's yet-to-be-aired terraces on their <a href="/expert-insights/building/the-block-glasshouse-chris-and-jennas-apartment-listed-online">apartment's online listing</a>.
From Property Observer's experience at the Fans v Faves open for inspection earlier this year, spectators can expect long lines, a slow shuffle through the apartments and plenty of selfie opportunities with the contestants.
The Block Glasshouse apartments will be up for auction on 11 October.
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The Block Glasshouse open for inspection this weekend

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The pantry is apparently super-sizing. And the trend has emerged not just because there was plenty of space in The Block Glasshouse project in Prahran.
Last weekend <a href="https://online.wsj.com/articles/the-rise-of-the-super-pantry-1410449896" target="_blank">The Wall Street Journal noted</a> the trend noting the pantry in the US was becoming prettier part of the home. As kitchens islands have become the entertainment hub of the home, home owners are moving the clutter and clatter of kitchen activities behind the scenes where they are less visible to guests.
"No longer just for storing potato chips and soup cans, the traditional kitchen closet is becoming bigger, more luxe and more multifunctional.
"Architects, contractors and real-estate agents say upscale homeowners are asking for walk-in rooms that serve as workspaces for everything from food prep to gift wrapping to bill-paying."
A report by the National Association of Home Builders last year showed 85% of respondents put a walk-in kitchen pantry on their most wanted list.
The WSJ article said the latest iteration of the pantry was really just a riff off pantries of yore.
 In the U.S., a separate room used for storing butter in the 17th and 18th centuries was called a "buttr'y," says Catherine Seiberling Pond, author of The Pantry—Its History and Modern Uses.
 The mid- to late-1800s saw the arrival of the "butler's pantry"—a room off the kitchen for storing glassware, dishes and cutlery, where food was plated. 
In the 1930s, breakfast nooks began to replace separate pantries, and food storage moved to cabinets. 
Pantries became all but obsolete by the 1950s, says Pond. It wasn't until the 1990s, when kitchens became more open, that walk-in pantries returned.
There were two winners of kitchen week.
Michael and Carlene's kitchen was reminiscent of a high-end Manhattan brasserie. The butler’s pantry had storage and a preparation area. The judges praised the pantry (pictured above) as the “icing on the cake”.
Shannon and Simon's kitchen was described as modern, edgy with a sophisticated palette. It came with chef's kitchen. Their pantry was the perfect place for a microwave, said judge Darren.
Dee and Daz’s butler’s pretty pantry was the runner up.
There was criticism from the Block judge, Shayna of Maxine and Karstan’s butler’s pantry. 
Shayna thought there was way too much storage (below) in the contestant butler’s pantry, describing it as “like a clinical storage box”.
<img src="/images/2014/09/19/block-sept-19-two.jpg" alt="">
Maxine and Karstan’s butler’s pantry. Source: Channel 9
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The Block Glasshouse: Kitchen pantries on the comeback

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There are 1,090 auctions scheduled this week in Melbourne compared to 984 for the same time last year. 
The highest volume of auctions this week is in <a href="/news">Reservoir</a> with 24 expected followed by 23 in <a href="/news">Hawthorn </a>and 22 in <a href="/news">Brighton</a>.
Last week was the 12th time this year where in excess of 1,000 auctions were recorded; the highest for year was 1,510 in mid April. In 2013 there were 11 weeks with more than 1,000 auctions and in 2012 there was four.
Given an increase in auctions as a popular mechanism for selling, the prevalence of 1,000 plus auctions each week is much higher than ever before, making weeks of 1,500 plus a more significant indicator of confidence from vendors. There were four weeks with more than 1,500 auctions last year, all after the AFL Grand Final. There is no reason this won’t be repeated this year.
Time on market results for houses sold at private sale fell from 45 days to 44 days over the last week whilst vendor discounting fell from -5.6% to -5.4%.
Key data
<ul>
<li>Clearance rate week ending 14 September: 73.4% 
</li>
<li>Melbourne auctions expected week ending 21 September: 1,090 
</li>
<li>Melbourne private sales time on market week ending 14 September: 44 days (houses) 
</li>
<li>Melbourne vendor discounting market week ending 14 September: -5.4% (houses) 
</li>
<li>Listings being prepared for market are 0.4% higher in month ending 14 September (seasonally adjusted)</li>
</ul>
With a vast majority of homes sold in the last financial year now settled, it is possible to calculate some of the key numbers in the Melbourne market.
<ul>
<li>Suburbs with the lowest number of house sales: <a href="/news">Narre Warren East</a>, <a href="/news">Gilderoy</a>, <a href="/news">Sherbrooke</a>, <a href="/news">Tremont </a>and <a href="/news">Gruyere</a>. Each only recorded one sale 
</li>
<li>Suburbs with the biggest spend by house buyers; <a href="/news">Brighton </a>($805m), <a href="/news">Glen Waverley</a> ($613m), <a href="/news">Kew</a> ($592m), <a href="/news">Toorak </a>($576m) and <a href="/news">Balwyn North</a> ($502m) 
</li>
<li>Suburbs with the biggest spend by apartment buyers; <a href="/news">Melbourne </a>($649m), <a href="/news">Southbank </a>($378m), <a href="/news">South Yarra</a> ($353m), <a href="/news">Docklands </a>($346m) and <a href="/news">Brighton </a>($307m) 
</li>
<li>Suburb with the most house sales over $2m, <a href="/news">Brighton </a>with 147 
</li>
<li>Suburbs with the largest house blocks sold; <a href="/news">Park Orchards</a>, <a href="/news">Belgrave South</a>, <a href="/news">Kalorama</a>, <a href="/news">The Patch</a> and <a href="/news">Sassafras</a> 
</li>
<li>Suburbs with the largest increase in sale price for houses: <a href="/news">Ashburton</a>, <a href="/news">Balwyn North</a>, <a href="/news">Fairfield</a>, <a href="/news">Kew East</a> and <a href="/news">Balwyn</a> 
</li>
<li>Municipalities with the largest increase in sale price for houses: Monash, Glen Eira, Manningham, Whitehorse and Yarra 
</li>
<li>Municipalities with the least increase in sale price for houses: Hume, Cardinia, Mornington Peninsula, Nillumbik and Brimbank 
</li>
<li>Suburbs with the least increase in median advertised rents for houses: <a href="/news">Brighton</a>, <a href="/news">South Melbourne</a>, <a href="/news">Middle Park</a>, <a href="/news">Sandringham </a>and <a href="/news">Armadale</a> 
</li>
<li>Suburbs with the largest increase in median advertised rents for houses: <a href="/news">Balwyn</a>, <a href="/news">Caulfield South</a>, <a href="/news">Fitzroy North</a>, <a href="/news">Beaumaris </a>and <a href="/news">Carlton</a> 
</li>
<li>Suburbs with the highest proportion of houses advertised for sale: <a href="/news">Mount Eliza</a>, <a href="/news">Taylors Hill</a>, <a href="/news">Point Cook</a>, <a href="/news">Pakenham </a>and <a href="/news">Mount Martha</a>
</li>
</ul>
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Melbourne gears up for 1,000 plus auctions: RP Data's weekend preview

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When you are developing property, finding actual comparable sales references in the same market that you will build is extremely important. 
You need to estimate what your dwellings will be worth on completion of your project.
You can find sales references on most of the real estate websites in the 'sold' area. You can also order sales reports from Residex or RP Data and various other providers which are more accurate.  
House and land packages are advertised readily.  If you are building near or within a land release estate then you are bound to come across them.  
I'm often asked if a house and land package price can be used as a sales reference for a finished home. The answer is no.
A house and land package, of course contains two components; land and construction costs. When you purchase a house and land package from a builder/developer, you do not pay the entire cost upfront. The builder or developer would have secured the land and you will usually pay for the land directly.  So the registered sale price associated with that lot will be what you paid for the land and not the entire price of the package.
Financing for a house and land package usually consists of two steps: a loan for the land then a construction loan.  
The loans for land and build costs can be arranged separately, but may also be bundled together.
As part of your due diligence on a house and land package, you must carefully check the inclusions and exclusions of the builder's contract.  Commonly, some site works are NOT included and you may need to add these to the price you've been quoted. Typically retaining walls can be excluded, importing or exporting of soil to prepare the site may be excluded or listed as a 'provisional cost'. This means an allowance has been made but if it costs more, a variation will be raised. If it costs less than the allowance, then you may get a credit (which is always nice).
Be wary of 'turnkey packages'.   A turnkey package should include everything so that you can move right in or sell or lease the property as completed including carpet, blinds, landscaping, driveways, letterbox and all fittings and fixtures. 
A  quick search in one of the suburbs Property Bloom develops in comes up with this advertisement:
Headline:  "FIXED PRICE TURN KEY PACKAGE!!  Fixed price package gives peace of mind with no hidden extras."
Below the headline was a computer generated image of a house.  Then following this was a disclaimer:
DISCLAIMER All facades, floor plans, dimensions and illustrations are indicative only. The finishes and inclusions nominated are to be used as a guide only and purchaser is advised to refer to the land contract and builders contract for accurate dimensions, specifications and inclusions. We reserve the right to alter the plans
What you are getting for you money or the exact house and land package will be detailed in the sales contract and builder's contract. It's imperative that you review this in detail to understand the inclusions and more importantly, the exclusions.
A house and land package can be advertised at a low price point to attract attention. Whilst you can use it as an indication as the builder/developer is basically saying this is the actual cost of a house in this suburb, it is by no means indicating the actual cost or value. 
If it's a good location, you can expect that the value may be higher. Always budget for a higher cost to cover excluded items and any upgrades or changes you'd like to make.
A house and land package price is not a sales reference, however it can be looked at as a lower estimate of the end value. In a good location and in a good market, if a sale occurs of a completed house and land package, that the vendor would be seeking a higher price than what it cost them to build.
<a href="https://www.propertybloom.com.au" target="_blank">www.propertybloom.com.au</a>
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Are house and land package prices considered sales references?

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One, two and three bedroom apartments have been released at CBRE's Bosco project in Sydney's Five Dock.
Located 9 kilometres from the Sydney, the apartments are within walking distance of Canada Bay.
The masterplanned development were designed by Bates Smart with reference to Mediterranean towns. It includes six-metre deep garden areas surrounding the cluster of apartments, with a central courtyard garden.
The residences have sandstone, terracotta and Roman brick facades.
Priced from $600,000, the new apartments all include parking.
The Bosco project is being developed by CBRE Residential and EG Funds Management, a specialist property fund manager.
 
 
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