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“Minister Chanthivong and his team have shown real leadership in replacing an outdated two-year bond with cover that matches the lifespan of the buildings people are buying into.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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GUEST OBSERVATION
Market Outlook: unchanged - neutral with negative bias
<ul>
<li>Attractiveness of renting as a preferred accommodation option has further increased (as at September 2014).</li>
<li>Purchase affordability is still very high but declining - it provides support for prices at the current level (as at June 2014).</li>
<li>Confidence in the economy continues to deteriorate with no signs of improvement (as at September 2014).</li>
<li>Housing Credit Impulse has turned down, indicating change in the underlying demand for residential real estate (as at September 2014).</li>
<li>Actual prices are above what could be expected based on changes in housing credit, making them sensitive to adverse changes in economic conditions (as at July 2014). </li>
</ul>
National Real Estate Price Forecast
The latest indicators provide further evidence of weakening market conditions.  
The pessimism about the economy and the rising purchase costs that detract potential buyers from the market have started to impact on overall demand.
Purchase affordability is deteriorating but it still remains high, providing support for the current price level. Nevertheless, prices are quite vulnerable at present and the prospect of further strong growth is rather limited - and conditional on the return of optimism.
In the absence of evidence that demonstrates prices have reached their peak in the current cycle, the outlook for the property market in Australia remains neutral. The scenario of subdued market conditions, leading to no or small growth in prices, remains the most probable outcome for September and December quarters. 
#1 optimal accommodation choice: attraction of renting is increasing
<img src="/images/2014/09/17/BRI_September2014.png" alt="">
The Buy-Rent Indicator (BRI) identifies how cost of buying is changing in relation to cost of renting.
BRI bottomed in June 2012 (indicating the lowest point in the current cycle) and it has been rising consistently since then. The indicator crossed the equilibrium line in March 2014. The September 2014 estimate points to a continuation of an upward trend for this indicator.
BRI is constructed based on the simple concept that renting and buying are substitute accommodation options, hence the optimal choice depends on which accommodation cost is rising in relation to the other. The practical use of this indicator is for identifying market cycles and for timing purchase and sale decisions.
The crossing of the indicator from buy to rent zone gives a signal that buying costs are starting to rise faster than rental costs.
In a market where purchasing costs are rising mainly due to price increases, the optimal point for selling the property will be when the indicator peaks, which should coincide with an interim peak in property prices.
As outlined in the last report, we are already two years into the current cycle.  The longest uptrend in the last 30 years was 3.5 years in duration, hence current cycle peak in property prices can be expected before the end on 2015.
Unless, of course, this cycle turns into an exceptionally long one - for example, due to historically high purchase affordability, if confidence in the economy improves.
All in all, fast moving prices from this point onwards can lead to a quite dramatic reduction in the demand for properties and, in effect, shorten the overall cycle.
Stagnating or slowly growing prices, which seems to be the more likely scenario, can potentially limit the negative impact on demand as growth in buying costs will be offset to a large degree by rising rental costs. This can delay the peak and extend the duration of the overall cycle.
 #2 purchase affordability: at a historically high level but falling 
<img src="/images/2014/09/17/PAI_September2014.png" alt="">
The Purchase Affordability Indicator (PAI) compares changes in the annual cost of buying to changes in average full time adult income, therefore it identifies how purchase affordability has changed over time.
PAI is still at a historically high level despite the September 2014 estimate falling in value. 
This indicator explains that, relative to incomes of Australians working full time, property prices are still very affordable.
The cost of buying a median priced property relative to average income is now 26.1% lower than it was in 1986. So, given the expectations of long term low interest rates, there is still a lot of room for prices to move before Australian property can be considered overvalued.
Article continues on the next paqe. Please click below.
<hr class="system-pagebreak">
#3 perceptions about economy: negative and deteriorating
<img src="/images/2014/09/17/EWI_September2014.png" alt="">
The Economic Wellbeing Index (EWI) is designed to reflect general perceptions of Australians about the current economic conditions.
The EWI is falling since June 2013. The September 2014 estimate is in the negative territory and continues trending downwards.
The key premise behind this indicator is that people are generally less inclined to make big purchases when they are worried about the state of the economy.
Actual prices cannot be expected to advance strongly in an environment where a gloomy outlook on the future prevails.
If there is no substantial change in perceptions about the economy, market conditions will be rather soft for the reminder of the spring selling season.
A scenario of subdued market conditions, flagged in earlier reports, has already started to play out in real time - RP Data’s daily price index for five capital cities shows that prices have fallen in mid September from the peak reached at the end of August.
#4 demand: weakening as trend has changed
<img src="/images/2014/09/17/PHCI_September2014.png" alt="">
The Private Housing Credit Impulse (PHCI) provides an indication of the level of buyer activity in the residential property market in Australia, hence it reflects underlying demand for properties.
The September 2014 PHCI estimate is positive but the indicator has just turned south. This is a very strong negative signal indicating change in the underlying demand for properties. The September value of PHCI is subject to final revision.
The practical use of this indicator is to provide early warning about impending changes in housing credit uptake, and hence, changes in the underlying demand for residential property.
A positive but declining value of PHCI indicates that credit uptake is slowing down and therefore, that the underlying demand for residential property is softening.
#5 property price expectation: growth to slow or flatten 
<img src="/images/2014/09/17/PPG_September2014.png" alt="">
The Property Prices Gauge (PPG) is a proxy of a property price index. It becomes a leading indicator when combined with House Price Index (HPI).
PPG recorded a small increase in July 2014 but remains well below HPI.
The PPG is rising but not very strongly. Hence, the support for the current price level is weakening and, as outlined in the last report, this situation can make prices quite vulnerable.
In other words, the fact that PPG cannot move closer to the current HPI level can only imply an underlying weakness in the market and hence, greater uncertainty about the future direction of property prices.
We can already see some tangible evidence of that weakness. In particular, last weekend RP Data reported a reduction in auction clearance rates and their daily index of 5 capital city prices recorded a small decline.
Arek Drozda is an independent property market analyst.
Caveat: The information is provided in good faith and does not constitute financial advice. Use with caution and at own risk.
Background information: For more extended description of individual measures and how to apply this information please refer to the first report in this series: <a href="/expert-insights/buying/buying-more-advantageous-than-renting-yet-change-imminent-april-2014-state-of-the-market-analysis">State of the Property Market, April 2014</a>. 
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Market conditions continue to weaken: September state of the market analysis

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Shashi Kanta Prasad, of Chipping Norton, New South Wales, has been convicted of four charges of fraud, in relation to creating false loan documents to secure mortgages totalling more than $3.6 million.
Although the ASIC investigation led to the conviction, Prasad was noted to have acted in full cooperation, a fact which was taken into account to in the conviction and decision to grant Prasad an 18 month good behaviour bond.
Prasad created false loan documents for seven clients, which resulted in her obtaining upfront and ongoing commission payments exceeding $11,000.
She <a href="/expert-insights/finance/financial-advisor-found-guilty-of-3-6-million-of-loan-fraud">previously pleaded guilty in the Downing Centre Local Court</a> to making seven false statements, producing 41 fake documents and using those documents to obtain a financial advantage for her employer in the form of commissions.
This type of conduct sees the offender facing a maximum imprisonment of five years for one offence of obtaining a financial advantage by false or misleading statements and a maximum penalty of five years for one offence of intention to defraud by false or misleading statement. Offenders face a 10 year maximum penalty for one offence of using false instruments and a maximum penalty of 10 years for one offence of using false documents.
ASIC Deputy Chairman Peter Kell said that ASIC will continue to pursue those who engage in this type of conduct, but it is also their policy to encourage and recognise cooperation.
“This case illustrates the potential benefits available to those who provide full and timely cooperation to ASIC and plead guilty to their offending at the earliest opportunity,” said Kell.
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jduke-EHk3XBmHkn

Good behaviour bond after false loan documents for $3.6 million of mortgages

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GUEST OBSERVATION
Recently I received a frantic phone call from a client to whom I was introduced to four weeks ago and who asked me "What’s wrong with just going to the bank I have been with for years?"
When I met this client Andrew (name has been changed) we explained to him that not all banks are the same, they all have different credit policies and lending criteria. Andrew though was convinced his personal banker at his local branch would be able to help him.
So why was Andrew calling me?
Well it seems that Andrew had decided to really dive in at the deep end and purchase a block of six units for just over $1.5 million, with plans to renovate and strata each individual unit.
This sounded great. Based on Andrews numbers by spending around $180,000 he would be increasing the value of his asset by somewhere between $50,000 to $100,000 per unit. And since they could now be sold off individually in the future he had an asset that was much easier to sell if he needed to.
When I met with Andrew originally though, his plan was simply to rent out the newly renovated properties and based on fixing his interest rate of 5% for five years. With a rental return of just over 5% he was hoping to be in an almost cash flow neutral position. In addition with the new equity, which he could access, he would be able to purchase another investment and would be well on his way to having a great property portfolio.
Well Andrew had just received his loan offers from his bank and what his personal banker had failed to tell him was that his bank was treating the application as a commercial application. That meant a valuation fee that was closer to $3,000 than the $900 he was expecting and legal and application fees that totaled almost $12,000. Worst of all his interest rate would jump to nearly 7%. Oh and the lender would only lend at a loan to value ratio (LVR) of 70%.
All of a sudden Andrew’s investment looked like requiring over $33,000 a year in extra income to support the loan. This property had gone from looking like a great opportunity to a drain on his finances.
What could be done?
Firstly, we found a lender who was happy to treat the loan as a standard residential lend. That meant more modest valuation costs.
There was some bad news though. To protect their interest the lender would only lend 70%, while the six units where not strata registered.
But the good news was they would offer him a one year fixed interest rate of 4.79%. This year would give him the opportunity to arrange the strata and renovations and the lender was willing to offer to revalue the property at the end of the year to capture any equity and take the loan up to an 80% lend.
Andrew's story is typical of many of the clients we meet and who call us. Often the last thing thought about is what effect the lending will have on the investment.
Albertus Waldron is a partner at Chan &amp; Naylor. For a free portfolio review or guidance on which lenders might be right for you, you can contact <a href="https://www.chan-naylor.com.au/contact/" target="_blank">Chan &amp; Naylor</a>. 
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awaldron-dVhPXocinv

What’s wrong with just going to the bank I have been with for years?

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GUEST OBSERVATION
The battle, mainly evident on social media and on online industry publications, continues between the two juggernauts of property listing portals.
Domain and REA are each <a href="https://www.rebonline.com.au/breaking-news/8048-rea-threatens-agents-future-domain-ceo" target="_blank">staging online attacks on one other</a>. But should they pay more attention to their own business, rather than spending time attacking each other?
I believe if both of the two portal providers are not careful, both will lose substantial market share in this space.
The emergence of internationally recognised websites, such as Gumtree and EBay, has allowed for growth for direct listings of properties by landlords and vendors. These portals also allow agents and agencies to list properties for free.
I myself use Gumtree and we have had great results in the last 24 months. Results measured across both in our sales and property management listings. One case in particular where a buyer saw the advertised property online on Gumtree in England and emailed us directly. He also paid the asking price for the property, may I add.
The buyer paid $60,000 more than another sale in the same complex, just a few weeks earlier by another agent. A great outcome for the vendor.
Then there is the quiet achiever, a local property portal, <a href="https://www.homehound.com.au/" target="_blank">Homehound</a>. A free property listing portal that has been growing and has been around for 10 years. They now boast of having over 2,000 agencies on board. Agencies that are taking advantage of free online presence. Notably, Homehound also provide premium paid listing space, should any agency wish to take up their offer.
If REA and Domain continue to spend more time and money on slandering one another, rather than to focus on better outcomes and services for agents, this may just well become their Achilles heel.
Lets face it, both have increased their listing fees, both take on private listings. One takes on private listings directly from vendors (Domain), the other from online third tier sites that assist vendors to sell privately (REA). Remind me, why is the “pot calling the kettle black” once again?
Real estate agents seem to have jumped all over the recent commentary by Domain’s CEO as though he was on our side.
Real estate agents seem to also believe in the most part that Domain’s CEO argument and premise that REA’s actions will diminish the real estate roles by agents and thus causing more havoc in our industry. The havoc is interpreted as concerns within the industry by agents allowing REA to move back to what was their initial campaign. A campaign which was launched in the 90s calling for and allowing vendors to privately list their properties.
Have we forgotten REA’s original add campaigns in the late 90s, “home sellers wanted.. sell your home online… agents need not apply”? Then again I am reminded once again Domain take on private listings. 
I remind our industry and colleagues that it’s not a matter of fearing what these juggernauts do or don’t do for us that will be the main reason to turn the consumer away from using our services.
It is more about what we will personally do for our future vendors and landlords as individuals, as a real estate office, group and industry to keep the customs we have enjoyed for so long that will determine our personal and business futures.  
In my opinion, allow REA to slip back into the private listing market. If it wasn’t for the simple fact that both Domain and REA know how VPA fills agencies pockets as an income source, we would not be paying as much for access to these property portals.
EDWIN ALMEIDA is managing partner and licensee-in-charge of <a href="https://www.just-think.com.au/" target="_blank" rel="nofollow">Just Think Real Estate</a>.
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ealmedia-arK4DBYLjS

Property portals need to spend less time attacking each other and focus on better outcomes for agents

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GUEST OBSERVATION
Looking closely at the new credit reporting system introduced in March this year leaves many people feeling a little overwhelmed.
But the first step to making any step forward, especially with your finances, is to get educated.  If you missed part one, <a href="/expert-insights/finance/the-new-era-of-credit-reporting-are-you-ready">check it out here</a> to get up to speed on the changes and what it means for you as an investor.
Having seen how the consequences of credit reporting adversely affects my clients, I feel that there should be greater control on what is placed on someone’s credit file before it’s registered. The onus should not be on borrowers’ to later prove that any one item shouldn’t be there.
You’re probably curious whether there is any good news? Yes! In fact, the great news is that there are lenders that don’t use credit scoring in conjunction with the credit report. I hope that this remains the case with the changes.  These lenders look at the logic of the credit report history.  For example an active investor could have multiple enquiries if they were restructuring a loan as well as completing two purchases  - this isn’t necessarily a bad thing.
The other lenders that rely heavily on the scoring actually lose the opportunity to build relationships with strong clients.  Now, you may assume that lenders that use the basic credit fundamentals instead of credit score systems are second-rate lenders, though they’re certainly not, nor do they charge higher rates. In fact in some cases, their products are often better and we need to start rewarding these lenders with our business, and reduce the market share of the big four.
It’s extremely important that every person understands what credit suitability means and manage their own accordingly. You want to do this before you apply for a loan to avoid any nasty surprises during the application process.
Steps to accessing and understanding your credit score.
 
<ol>
<li>
Get a copy of your report ASAP from <a href="https://www.veda.com.au/" target="_blank" style="line-height: 1.3em;">Veda</a>. 
</li>
<li>Review this carefully and highlight any errors.  Then you’ll need to begin the process of removing them. This isn’t an easy process and whilst there are some good companies out there to assist be wary of scams. I encourage you to do due diligence carefully before engaging these companies. </li>
<li>Assess your own risk. Would you really lend yourself money? What is your relationship with money and how you handle debt?  Do you go from job to job and have no stability?</li>
</ol>
 
Ways to improve and manage your credit situation. 
<ul>
<li>Pay your all loans on time (it does matter if it’s one day later) and keep your credit facilities under the limit. Also pay other accounts like telephone, rates, Foxtel on or before the due date. 
</li>
<li>Be still. Manage your stability and changing jobs every three months isn’t going to help your credit score and no doubt is a sign that you aren’t happy and need to look at what is causing this job dissatisfaction.  This doesn’t mean don’t ever change or follow your career path but applying for loans in the middle of a changeover doesn’t help your application. 
</li>
<li>Complete a budget and review regularly to ensure you know your numbers. 
</li>
<li>Don’t apply for unnecessary unsecured personal debt &amp; don't chase the 0% interest balance free transfers.  It can cost you a lot more than the interest you are trying to save. 
</li>
<li>Use a good mortgage broker that knows lenders policy and do as much work upfront like valuations and also credit checks to improve your chances of getting approved at the lender you apply for.</li>
</ul>
Remember, lenders will lend based on risk before profit.  Manage your credit file, limit your bad debt, be an example of stability and you can have a better chance of obtaining good debt to start or grow your investment property portfolio.
MICHELLE COLEMAN is an award winning finance broker and managing director at <a href="https://www.wfinancial.com.au/" target="_blank">W Financial</a>.
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mcoleman-u4QTxPRvfF

Understanding your credit score and how to improve it

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Despite tentative auction listings and home prices over the past week, ANZ Research’s David Cannington still expects growth in the Sydney and Melbourne markets.
In his recent Australian Housing Market Update Cannington noted that Sydney and Melbourne in particular are recording positive home buyer sentiment, with clearances in excess of 70%, even while vendors “remained reserved with the number of auctions around trend levels”.
Steady consumer confidence and elevated clearance rates in more recent weeks are evidence of a short-term demand.
Similarly, house price gains were a mixed bag. While Sydney, Melbourne and Brisbane eased over the week, Adelaide and Perth edged a little higher.
Since the beginning of August, Cannington noted that the prices have increased in trend terms across all, bar one, of the capitals. Brisbane is the capital that was left behind from this growth.
This leads Cannington to conclude that further gains are expected for Sydney and Melbourne, although at a moderated level.
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Further gains tipped for Sydney and Melbourne: ANZ

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On tonight's episode of Location Location Location Australia, buyer's agents Veronica Morgan and Bryce Holdaway will assist two sets of buyers who are keen to move onwards and upwards.
Bryce is coupled with petrophysicist Jane and her partner, self-identified geek and IT professional Brian. The pair, who live in Perth's Kensington and Bentley respectively, are hoping to move in together.
They're looking for a big house, so they can both have their own independent spaces - especially since Jane is neat and tidy while Brian describes himself as a hoarder.
The couple have a wide range of locations in mind, and are looking for something to the north, east or south of Perth. The house itself should have three or more bedrooms, a games room for Brian, be located close to the city and require no renovations. They have a $1.2 million budget to work with.
Veronica is teaming up with personal assistant Suzie and her daughter Kate. Suzie is keen to move from Sydney's Rozelle to New South Wale's North Coast. Now that Kate's off to university, Suzie would like to move to Mullumbimby, where she's holidayed.
But the pair are after more than just a holiday house. They're after enough land to set up an animal sanctuary and run a vegan bed and breakfast. Suzie's keeping her business plans flexible and says that she buys "with her heart".
Both Veronica and Bryce will be tasked with helping their two sets of buyers solidify their rather uncertain plans and find new homes.
Location Location Location Australia airs on the Lifestyle Channel tonight at 8:30pm.
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jrichardson-uRX5hFdKfN

Location Location Location preview: Uncertain upgraders

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A contemporary four bedroom house in Brighton East was the most expensive sale of last week, according to RP Data.
The home at 13 Edro Avenue (pictured above), which sold for $3.87 million, was one of only two Victorian offering to make it to RP Data's list of the top 10 capital city sales of the week. The remaining sales were all in Sydney.
RP Data's top 10 sales of the week:
<ol>
<li>
<a href="https://www.realestate.com.au/property-house-vic-brighton+east-117733755" target="_blank">13 Edro Avenue, Brighton East, Vic  </a> Last week's most expensive house, which sold through Hocking Stuart Brighton, comes with a self cleaning pool and outdoor kitchen. The internal marble kitchen includes a butler's pantry, and looks out over one of three living spaces in the home. The house includes a drying room, hydronic heating, automatic blinds, and a large study or fifth bedroom. Vendors purchased the land for $1,402,000 in April 2009, later building the new home on the plot.  </li>
<li>
<a href="https://www.realestate.com.au/property-house-nsw-cabarita-116630479" target="_blank">53 Dorking Road, Cabarita, NSW </a> <img src="/images/2014/09/16/2.jpg" alt=""> This waterfront home sold for $3.8 million through Raine &amp; Horne Montano. The 1990s build replicates late 1800s architectural features, with tessellated tiles, ceiling roses and deep skirting boards. The house, which sits on a 1,016 square metre waterfront parcel, has six bedrooms and four bathrooms. The vendors bought the plot for $600,000 in 1990. 
</li>
<li>
<a href="https://www.realestate.com.au/property-house-nsw-castlecrag-117747079" target="_blank">13 The High Tor, Castlecrag, NSW</a> <img src="/images/2014/09/16/3.jpg" alt=""> A five bedroom house sold prior to auction for $3,335,000 through Chadwick Real Estate Turramurra. The home, situated on an elevated plot, offers views across Middle Harbour. It features multiple formal and casual living and dining areas, double bedrooms, a CaesarStone kitchen and an outdoor pool. The vendors purchased the house in 2007 for $3,000,000. They have attempted to sell it multiple times - once in February 2010 and again in 2011, pulling it off the market after 334 days. It sold last week after 293 days on the market. 
</li>
<li>
<a href="https://www.realestate.com.au/property-house-nsw-hunters+hill-117662979" target="_blank">3 Farnell Street, Hunters Hill, NSW</a> <img src="/images/2014/09/16/4.jpg" alt=""> A Philip Lance designed home in Hunters Hill sold for $3.25 million through McGrath Hunters Hill. The five bedroom, five bathroom home includes a covered entertaining terrace with a built in barbecue and an outdoor pool. Two of the home's bedrooms have balconies. The house also comes with triple basement parking. The sellers bought the home for $1.3 million four years ago. 
</li>
<li>
<a href="https://www.realestate.com.au/property-house-nsw-paddington-117671911" target="_blank">284 Moore Park Road, Paddington, NSW</a> <img src="/images/2014/09/16/6.jpg" alt=""> Paddington's very own Addams Family House sold for $3,082,000 million last week. Verulam was sold through Raine &amp; Horne Double Bay. The house, offered for the <a href="/expert-insights/buying/addams-family-style-paddington-house-sold-at-3-082-000">first time since the 1920s</a>, came with a $2.5 million price guide. The Queen-Anne styled three level Federation house sits on a 393 square metre dual access block. 
</li>
<li>
<a href="https://www.realestate.com.au/property-apartment-nsw-sydney-117405027" target="_blank">5605/393 Pitt Street, Sydney, NSW</a> <img src="/images/2014/09/16/7.jpg" alt=""> The 46th storey penthouse at the north east corner of Sydney's Horden Towers sold for $3.08 million through House 18. It includes four king sized bedrooms, two with en suites, an open plan living and dining area and an enclosed kitchen. The two level penthouse comes with access to the complex's 25 metre pool, spa, sauna and gym. 
</li>
<li>
<a href="https://www.propertyobserver.com.au/https://www.mortonandmorton.com.au/11175363" target="_blank">B902/24 Point Street, Pyrmont, NSW</a> <img src="/images/2014/09/16/8.jpg" alt=""> A three bedroom apartment sold for $3.0 million through Morton &amp; Morton Pyrmont last week. The penthouse, spread over 265 square metres, has uninterrupted views over the harbour to the bridge and Sydney's skyline. The apartment comes with a private barbecue terrace, multiple balconies, carpeting throughout and a master bedroom with a dual walk in robe. 
</li>
<li>
<a href="https://www.realestate.com.au/property-house-nsw-bellevue+hill-117705239" target="_blank">9 Rosslyn Street, Bellevue Hill, NSW</a> <img src="/images/2014/09/16/9.jpg" alt=""> BrafieldCleary Double Bay sold this five bedroom house for $2.98 million. The attached home includes a fireplace, a north facing living and dining area, solar heated pool and a climate controlled cellar. It sits on a 338 square metre block. The vendors purchased the home 14 years ago for $1,725,000. 
</li>
<li>
<a href="https://www.realestate.com.au/property-house-vic-south+yarra-117731159" target="_blank">38 Davis Avenue, South Yarra, Vic</a> <img src="/images/2014/09/16/10.jpg" alt=""> The second Melbourne home on this week's top 10 list, this house sold for $2,955,000 million through Kay &amp; Burton South Yarra. The single storey Victorian residence sits on a 561 square metre plot, with a rear garage and studio. The four bedroom house features Baltic floors, marble fireplace mantles, ceiling roses and decorative cornices. The sellers owned the house for 13 years, purchasing it for $1.38 million in January 2002. 
</li>
<li>
<a href="https://www.realestate.com.au/property-house-nsw-dural-117766239" target="_blank">3 Vineys Road, Dural, NSW</a> <img src="/images/2014/09/16/10.jpg" alt=""> McGrath Estate Agents sold a four bedroom, four bathroom Dural house for $2.95 million last week. The house, sitting on a corner 4,047 square metre block, features multiple interior living spaces, three of which open onto outdoor entertaining areas. The property includes a pool, paved entertaining spaces and gardens landscaped by Rolling Stones Landscapes. The home was purchased by the vendors for $2 million in May 2008.</li>
</ol>
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Brighton East home tops last week's sales: RP Data 

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Next month, construction will begin on the $15.5 million boutique apartment development The Whitfield located in <a href="/news">Bassendean</a>.
Builder PACT Construction have been announced as the successful tenderer.
The complex, with 34 apartments, a cafe and office space, spanning four levels, will take about 58 weeks to complete with a build contract value of $7.7 million.
<a href="https://thewhitfield.com.au/" target="_blank">The Whitfield</a>, at 78-80 Old Perth Road, includes one and two bedroom apartments. The office space has already been sold to a financial services company, as have the café premises.
Every apartment includes a private balcony and the complex has secure parking, bicycle storage, air-conditioning and CCTV.
One bedroom apartments are priced from $379,000, with two bedrooms available from $469,000. A "typical one bedroom" apartment includes 84 square metres, with a "typical two bedroom" apartment spanning 113 square metres.
At present, it is already 75% sold, predominantly bought by local residents intending to owner occupy the apartments, said The Whitfield developer Willing Property founder Tim Willing.
“The Whitfield will further enhance Bassendean’s status as a town on the rise, with excellent transport, local amenities, access to the CBD and Swan Valley along with an emerging café, local shopping and small bar scene,” he said.
“This is the third project for Willing Property in the past year, which include The townhouses in Mt Hawthorn, where we revamped 42 three-bedroom and two bathroom townhome residences, as well as our forthcoming riverfront land lots in Bayswater.”
Architect John Silbert and Associates have designed a red façade and incorporated a private central garden atrium, waterwise landscaping and BBQ facilities.
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Construction poised to commence at Perth’s $15.5 million The Whitfield

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A double-storey 1980s Beaumaris house designed by architect Andre Piotrowski didn't sell at weekend auction.
It was last sold in 2002 for $920,000 by the architect.
Its Brutalist features come from the extensive use of concrete on exterior surfaces. 
It came with $1.35 million plus hopes but was passed in at $1,385,000 <a href="https://www.realestate.com.au/property-house-vic-beaumaris-117487643" target="_blank">through </a><a href="https://www.realestate.com.au/property-house-vic-beaumaris-117487643" target="_blank">Michael Cooney at Hodges Beaumaris</a>.
The four bedroom 1982-built property at 1 Olinda Avenue sits on a 651 square metre corner with a resort-style pool.
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