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“Minister Chanthivong and his team have shown real leadership in replacing an outdated two-year bond with cover that matches the lifespan of the buildings people are buying into.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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A preliminary weighted average clearance rate of 70.8% was recorded this week across capital cities compared to 74.1% last week and 72% this time last year.
This week will have added to the already substantial growth in auction volumes this year across capital cities. Prior to this week there had been 61,056 auctions in capital cities,33.6% more than the 45,696 held over the same time last year.
<a href="https://blog.rpdata.com/wp-content/uploads/2014/09/20140915-Capital-city.jpg" rel="wp-prettyPhoto[g3714]"><img class="aligncenter wp-image-3715 size-large" src="https://blog.rpdata.com/wp-content/uploads/2014/09/20140915-Capital-city-580x434.jpg" alt="RP Data auction comment | Capital Cities" width="580" height="434"></a>
In Sydney a preliminary clearance rate of 78.3% was recorded compared to 80.1% last week. Last week was only the fifth time in the past five years a clearance rate of over 80% was achieved and this week has returned a similar result.
<a href="https://blog.rpdata.com/wp-content/uploads/2014/09/20140915-Sydney.jpg" rel="wp-prettyPhoto[g3714]"><img class="aligncenter size-large wp-image-3716" src="https://blog.rpdata.com/wp-content/uploads/2014/09/20140915-Sydney-580x391.jpg" alt="RP Data auction comment | Sydney" width="580" height="391"></a>
In Melbourne there was a preliminary clearance rate of 70.5% recorded on the first week with over 1,000 auctions for the spring season compared to 76.6% last week. Higher volumes have translated into more sales, so far this year there have been five homes sold at auction for every four last year.
<a href="https://blog.rpdata.com/wp-content/uploads/2014/09/20140915-melbourne.jpg" rel="wp-prettyPhoto[g3714]"><img class="aligncenter size-large wp-image-3717" src="https://blog.rpdata.com/wp-content/uploads/2014/09/20140915-melbourne-580x389.jpg" alt="RP Data auction comment | Melbourne" width="580" height="389"></a>
In Brisbane a preliminary clearance rate of 49.4% was recorded compared to 44.7% last week.
<a href="https://blog.rpdata.com/wp-content/uploads/2014/09/20140915-brisbane.jpg" rel="wp-prettyPhoto[g3714]"><img class="aligncenter size-large wp-image-3718" src="https://blog.rpdata.com/wp-content/uploads/2014/09/20140915-brisbane-580x384.jpg" alt="RP Data auction comment | Brisbane" width="580" height="384"></a>
Adelaide recorded a clearance rate of 62.7% compared to 68.8% last week.
<a href="https://blog.rpdata.com/wp-content/uploads/2014/09/20140915-Adelaide.jpg" rel="wp-prettyPhoto[g3714]"><img class="aligncenter size-large wp-image-3719" src="https://blog.rpdata.com/wp-content/uploads/2014/09/20140915-Adelaide-580x392.jpg" alt="RP Data auction comment | Adelaide" width="580" height="392"></a>
In Canberra a clearance rate of 52% was recorded and in Perth there was a clearance rate of 43.8%.
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rlarocca-zWhvjay44N

Capital city auctions deliver healthy returns: RP Data's national auction wrap

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Without a doubt it’s one of the most confused and manipulated demographics within the Australian economy – yet year in and year out we have commentators both here and afar trying to solve this puzzle. 
What is clear is that very few can solve this puzzle given they quickly get lost deep in the permutations of the mathematics by focusing too much on theory and not enough on the practice.
Bubbles, booms and bonanza – and yet for some strange reason they have this creative ability to conjure this monumental market disintegration creating this almighty property Armageddon. 
This week, I was particularly interested to read commentary from Fabienne Michaux, head of Standard &amp; Poor’s Rating Service Australia and New Zealand. In particular: “One of the peculiarities of the Australian system is our huge reliance on foreign debt and most of that is channeled through the banking system.”
“Although the rise in house prices didn’t look like a speculative bubble the market is certainly looking fully priced and possibly a little overpriced, particularly in Sydney and Melbourne which account for such a large percentage of the national stock.” 
Finally, an assessment that I totally agree with, “fully priced and possibly a little overpriced”.
When the Murray inquiry is released later this year, many of the answers to solving the Australian property Rubik’s Cube will be answered – all that remains to be seen is whether or not the Abbott government will act on the findings. 
The major problem for Australian property is that the governments ignore the problems preferring to feed from these highly profitable property ”rivers of gold” – which is keeping the governments’ heads above water due to the ongoing taxes. Capital gains tax, land tax, stamp duty, rates – the list keeps going on.
GST was introduced by the Howard government on 1 July 2000, replacing the previous federal wholesale sales tax system and designed to phase out a number of various state and territory government taxes, duties and levies such as banking taxes and stamp duty. Well hello!!  We still have them today despite the promise that they would be removed. Actually, on the property side these taxes have mysteriously been increased since the GST was introduced.
Back in 2010 when the Henry tax review was handed down the Treasurer Wayne Swan responded that “Labor would never reduce the existing tax concessions on negative gearing and capital gains tax”. What we were seeing back then was an approximate 20% rise in house prices over that year where it was obvious from the report that tax breaks were inflating house prices. At the time former New South Wales auditor – general commented: “It doesn’t do Australia any good to have a government which, when they see these rational arguments from a very well experienced team, give it three minutes’ thought and then just ditch it.”
<a href="https://www.rwm.com.au/files/2014/09/10-09-2014-1-31-59-PM.jpg"><img class="aligncenter size-full wp-image-143882" src="https://www.rwm.com.au/files/2014/09/10-09-2014-1-31-59-PM.jpg" alt="10-09-2014 1-31-59 PM" width="681" height="394"></a>
If we are to try and solve this Australian property Rubik’s Cube the next inquiry Mr Murray should be given is does Australia need middle and third tier governments? The problem here is the governments rely totally on the multitude of taxes which keeps them in jobs so that on retirement they can collect a handsome pension. Making such a decision like those contained within the Henry tax review would be committing some type of political treason.
You very simply can’t solve the problem when the politicians who make the decisions have a clear vested interest of self-preservation. This can’t be solved until such time as Canberra admits that we have a problem – despite reports confirming that change is needed, the preferred option is to then ignore it, which is confirmed when you see that the Abbott government does not even have a Housing Minister.
<a href="https://www.rwm.com.au/files/2014/09/8-09-2014-2-25-50-PM.jpg"><img class="aligncenter size-full wp-image-143883" src="https://www.rwm.com.au/files/2014/09/8-09-2014-2-25-50-PM.jpg" alt="8-09-2014 2-25-50 PM" width="632" height="278"></a>
So let’s just think about this and how we can possibly solve this dilemma? Imagine the Liberals and Labor offering bipartisan support for the creation of (let’s get creative and call it) the Australian Economic Master Plan (AEMP). So let’s appoint David Murray as the chairperson, then appoint another nine pre-eminent business people to join this committee to actually closely investigate and then recommend what such a AEMP should look like, what needs to be implemented and what needs to be removed, which let’s say may take 12 months to determine. That would leave twelve 12 to discuss, then it is presented at the next federal election by referendum.
The problem previously has been that these conversations were quickly placed in the too – hard basket (for political reasons). It’s clearly time now to remove the politics by listening to what a totally independent body recommend – that way we just may solve the Australian real estate Rubik’s Cube.
Whatever the case we at least need to start this conversation – as it’s long overdue.
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robertsimeon-hRNTwJyXkQ

Bubbles, booms and bonanza – Solving the Australian property Rubik's Cube

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As the ripple effect clicks into action, markets in our major cities are shifting.
A standard pattern in property cycles is that an upward movement starts in the Top End suburbs and gradually ripples out to the middle and outer ring suburbs.
We’re seeing this playing out in Sydney and Melbourne as 2014 winds on.
The pattern of activity in Sydney shows that sales levels in many of the millionaire suburbs have tapered off. In the Price Predictor Index, which tracks sales volumes in cities and towns across Australia, many of the Top End suburbs in Sydney have been downgraded.
But several markets in the middle and outer ring areas have been upgraded, because sales activity has picked up.
The Sydney precincts that still have strong growth momentum are mostly in the far west and south-west. The municipalities centred on Parramatta, Blacktown, Penrith, Liverpool, Campbelltown and Camden have numerous suburbs with rising activity levels.
The pattern is similar in Melbourne – where the market with the strongest growth pattern is the Mornington Peninsula.
In Brisbane and Adelaide, which are less advanced in the property cycle from the two biggest cities, we’re also seeing middle ring and outer ring suburbs putting their hands up.
Brisbane’s run, which started with the inner and middle-ring suburbs north of the CBD, as well as the inner-city apartment market, is starting to spread. The Moreton Bay municipality, which encompasses the northern growth corridor heading up towards the Sunshine Coast, has emerged strongly as a growth market.
So too has Logan City, which provides a suburban bridge between Brisbane City and the Gold Coast in the south. Ipswich, in the far south-west, is lagging a little, but starting to show signs of life.
Adelaide is being largely overlooked in discussions about property booms, but the South Australian capital is on a pronounced upward trajectory, with rising sales volumes evident since the start of the year.
Based on sales volumes in the June quarter, which point to price reactions later in the year, the growth markets in Adelaide are all bottom end and middle market. It’s the more affordable areas leading the city’s charge.
The Onkaparinga local government area in the far south, which has been one of the few population growth stars in South Australia, is once again a standout. This includes affordable seaside suburbs like Aldinga Beach and Seaford.
In fact, we have rated Aldinga Beach in the Price Predictor Index as one of the top five growth markets in the nation, with sales levels doubling in the past 15 months.
Another of the national top five is the much-maligned south-west Sydney suburb of Macquarie Fields, which is known to many for all the wrong reasons (including the 2005 riots). But sales rates have almost doubled in past year or so and that generated a 7% rise in its median house price in the June quarter.
Macquarie Fields is one of many suburbs in the Camden and Campbelltown LGAs where sales activity has risen, as the market momentum has switched from the silvertails to the fibro dwellers.
You can contact Terry via  <a href="https://mailto:ryder@hotspotting.com.au" target="_blank">email</a> or on <a href="https://www.twitter.com/hotspotting" target="_blank">Twitter</a>. 
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terryryder-YECXbqmri2

Which middle and outer ring suburbs will benefit from the market's ripple effect?

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Sydney vendors have done very well over the past year with 59.4% of houses selling above their list price.
Sydney was followed by Melbourne where 50.4% of private treaty vendors faring above expectation.
The two cities were head and shoulders above the rest of Australia’s capitals and the regions, according to the Aussie/RP Data report.
It also found that in the year to 30 June, some 37% of Sydney houses sold for less than their initial list prices.  
Some 52.6% of capital city vendors accepted below list price, and then across Australia, the majority of vendors are selling for less with 63.4% of house sales falling short of their list price.
 <img src="/images/2014/09/15/aussise-sept-15-one.png" alt="">
The Aussie executive chairman John Symond said the new report indicated that city markets were much stronger than regional areas.
"For those looking for capital growth, the theme clearly indicates that capital cities are the places to invest, while regional areas are more about lifestyle than returns”, Mr Symond suggested. 
The data was based on private treaty sales, listing the top suburbs securing sales above the list price, kicked off with a 100% success rate in <a href="/news">Middle Cove</a> on Sydney Harbour.
The report found that ­all 10 houses in Middle Cove sold at above list price, with<a href="/news"> Winston Hills</a> in second place.
Winston Hills was ­especially impressive, and busy, with 96.6% of its 174 houses sold over the year fetching more than advertised, also selling quickly in around 25 days.
 <img src="/images/2014/09/15/aussise-sept-15-three.png" alt="">
 The report also listed the suburbs securing sales at under the list price, kicked off by <a href="/news">Emu Park</a> in Queensland. 
"There’s still an opportunity for savvy home buyers to negotiate down in some areas," John Symond noted.
"Sellers and buyers should take list prices with a grain of salt as the results are working out to be quite different from original expectations,” Mr Symond said. 
 <img src="/images/2014/09/15/aussise-sept-15-five.png" alt="">
 
Properties selling above list price are being snapped up quickly, with the top 10 suburbs average time on market for homes selling in just 38 days against 147 days for homes selling below list price.
"Buyers should be prepared to think quickly and act smart, and go into their property search with their mortgage pre-approval sorted.
"Knowledge of the market and a strong will not to stretch themselves beyond their means is also critical, especially if interest rates rise as they’re tipped to do in 2015,” Mr Symond concluded.
Click through to <a href="https://www.aussie.com.au/mortgage-broker/lp/offer-property-discounting.htm" target="_blank">download the full Aussie/RP Data Property Discounting report</a>. 
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jchancellor-FAypfDUnLy

Capital city asking price sales' success leaves the regions in the dust: Aussie

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Chris and Jenna's apartment from The Block Glasshouse has appeared on listing websites, revealing their terraces, which haven't yet been shown on television.
The apartment at <a href="https://www.realestate.com.au/property-apartment-vic-prahran-117921143" target="_blank">2/121-127 High Street, Prahran</a>, is being marketed by Anton Wongtrakun of Dingle Partners. Wongtrakun was previously the agent for twins Alisa and Lysandra for The Block Fans v Faves and The Block Sky High, which they won.
Spaces yet to be revealed on the show are shown in the listing, which describes the couple's lower level entertaining terrace (pictured below): "Framed by towering double storey walls with climbing vines, it has bench seating, a barbeque area, an idyllic water feature, an alfresco bar and ample room for an outdoor setting."
<img src="/images/2014/09/15/prahran_0001_2.jpg.jpg" alt="">
The couple are the only team to have been given a rooftop terrace space due to their lack of external windows. It will have two tiers, with a barbecue area, Vergola roof and bar seating on the lower tier. The asto-turfed lemon and leucadendron lined upper tier is pictured below.
<img src="/images/2014/09/15/image10.jpg" alt="">
The listing describes Chris and Jenna's apartment as "a fusion of custom contemporary style and inspired cutting-edge design".
Marketing is also underway for Simon and Shannon's apartment at <a href="https://www.realestate.com.au/property-townhouse-vic-prahran-117915927" target="_blank">4/125 High Street</a> (pictured below). Jellis Craig Bennison MacKinnon agents Andrew McCann and Carla Fetta are the agents, while the boys have brought back Block regular Damien Cooley to auction the property.
<img src="/images/2014/09/15/main.jpg" alt="">
The brothers' apartment is described in the listing as one that "creates highly desirable spaces that succeed in the game of life". It has 249 square metres of floor space and overlooks High Street. <a href="https://www.realestate.com.au/property-apartment-vic-prahran-117902235" target="_blank"></a>
<a href="https://www.realestate.com.au/property-apartment-vic-prahran-117902235" target="_blank">Apartment 1</a>, renovated by Michael and Carlene, is being marketed by <a href="/expert-insights/building/michael-and-carlene-stick-with-ray-white-as-the-block-glasshouse-marketing-kicks-off">Matt White of Ray White</a>. The couple are enjoying a three-week winning streak on the show after the judges deemed their living and dining room (pictured below) the best of the bunch.
<img src="/images/2014/09/15/image3.jpg" alt="">
Young couple Max and Karstan have brought Buxton's <a href="https://www.realestateview.com.au/Real-Estate/3-121-127-high-street-prahran/Property-Details-buy-residential-7578426" target="_blank">Karl Gillon back to The Block</a>. The agent returns to the show for the third time this season, after auctioning Brad and Dale's apartment on The Block Fans v Faves.
Darren and Deanne, who have renovated apartment 5, have chosen Biggin &amp; Scott Richmond to market their apartment. Their apartment's listing is yet to appear online.
 
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jrichardson-uRX5hFdKfN

The Block Glasshouse: Chris and Jenna's apartment listed online

The vacancy rate, usually expressed as a percentage, is a very useful statistic that helps property investors to assess activity in an area. Most often, it is used to determine rental demand.

It is a statistic that is used as a measurement for the number of rental properties that are vacant, or empty. Another way of phrasing this is to say that it denotes how many properties are untenanted at the time of counting.

A number of different bodies supply vacancy rate data, including the Real Estate Institutes. The Real Estate Institutes’ data is usually calculated upon their members’ statistics.

Usually calculated by comparing properties that are listed as available for rent (or vacant) to those that are counted as investment properties, one of the leading providers of this data, SQM Research, explains that their series starts from January 2005.

Their statistics are based on all monitored unique online listings for the period of the calendar month, taken from monitoring the major listings site, at which point they only use properties with unique addresses or unique listing identifications, while excluding those with no address and then getting rid of repeat addresses.

They note that only “those listings that have been advertised for three weeks or more (and are still currently advertised as at the time of collation) are used”.

To then determine the statistic, they use the last census data’s number of total established dwellings as their base figure, as well as more recent estimates, and then multiply it by the number of renters per postcode.

A higher vacancy rate suggests a higher number of vacant properties compared to an area with a lower vacancy rate – which many investors use to suggest that their investment will find it harder to obtain a tenant due to a higher number of rentals available as competition.

Areas with very low vacancy rates, usually sub-2%, are often called “tight” rental markets. This type of market suggests one where rental competition is high, where rents are more likely to be increased and where landlords can have their pick of tenants. It may also be called a 'landlord's market'.

A 3% vacancy rate is the point at which a market is set to be evenly balance between landlords and renters. Above 3% and renters have greater power to negotiate cheaper rents and the market looks less enticing to property investors. It may be known as a 'renter's market'.

What are our capitals’ vacancy rates at present?

<ul>
	<li><a href="/new-apartments/sydney-nsw-2000">Sydney</a>: 1.8%</li>
	<li>Canberra: 2.1%</li>
	<li>Darwin: 1.4%</li>
	<li><a href="/new-apartments/brisbane-city-qld-4000">Brisbane</a>: 2.3%</li>
	<li><a href="/new-apartments/adelaide-sa-5000">Adelaide</a>: 1.5%</li>
	<li>Hobart: 1.7%</li>
	<li><a href="/new-apartments/melbourne-vic-3000">Melbourne</a>: 2.6%</li>
	<li><a href="/new-apartments/perth-wa-6000">Perth</a>: 2.5%</li>
</ul>

Source: SQM Research

Using these broader statistics can give a good understanding of the overall condition in each city, but bear in mind that each city’s “norm” tends to be different. Sydney’s low vacancy rate is a characteristic of the market that has been present for a long period of time.

However, vacancy rates needn’t only be considered on a city-wide basis, suburb-specific details are also available that can provide a greater insight into the locality you’re considering. Some are vastly different from their city’s figure, for instance, Sydney’s Mount Druitt is recording a 0.7% vacancy rate.

Individual vacancy rate statistics on their own are also not as powerful as considering the trends in an area. If the vacancy rate is tracking down, this could mean good things with demand heating up. Similarly, a vacancy rate that is heading up may suggest that there is a gradual tenant exodus out of the area, or it could mean that many investors have recently bought in or that a new development has been completed.

Abrupt changes can also be seen, and can alert to property market busts. For instance, mining town Moranbah currently sits at 6.9% vacancy rate, compared to sub-1.0% a couple of years ago. Ex-mining town Zeehan, in <a href="/new-apartments/tas">Tasmania</a>, is currently recording a 20.8% vacancy rate, a number that has been tracking up for some years, as well as significant median price drops. Looking at weekly rental changes in comparison to the vacancy rate change can also be illuminating.

As you can see, a vacancy rate can be the very first number that gets you delving closer into an area.

What these vacancy rates do not show, however, are the differences based on dwelling type. Individual investors would be wise to do some of their own research and question prominent local property managers about any specific types of rentals that sit vacant.

If tenants are desirous for well-renovated <a href="/new-apartments?beds=3">three bedroom</a> houses, then having a poorly presented studio on a busy road is going to bring you a result far worse than expected based on statistics alone. It’s also worth asking property managers for the vacancy rates on their own books – this will alert you to the real time performance of the individual real estate agencies that will potentially be managing your properties.

Investors should also be aware that small areas with very few rentals are also likely to be less statistically reliable and will require more individual research to determine what the true demand is.

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What is a ‘vacancy rate’? Investment terms explained

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The first sod has been turned at Spectrum Apartments, an affordable housing project in Brisbane’s north.
The $13 million <a href="https://spectrumbrisbane.com.au/apartments" target="_blank">Spectrum </a>apartment complex at 616-638 Lutwyche Road will be built on a 4,370 square metre block of state-owned land.
Housing provider BHC is developing the plot into 64 affordable and private apartments and retail spaces and was gifted the land by the government. The three levels include ground floor commercial/retail spaces, with 30 of the residential apartments for sale.
Architects Cottee Parker’s design will include roof overhangs, screens and sunhoods, as well as weather proof pedestrian access on the street frontage.
Major construction is to begin next year with completion scheduled for 2016.
BHC chief executive officer David Cant said that Spectrum will include offices for MS Queensland, with affordable accommodation offered to multiple sclerosis sufferers through a partnership with the charity.
“Spectrum Apartments will provide a path back to the inner city for those who haven’t been able to keep up with Brisbane’s rising rents,” Cant said.
Apartments will include secure under cover parking. Floor plan configurations on the two levels include one bedroom, one bathroom, and two different two bedroom, two bathroom layouts.
A communal recreation area with seating and a BBQ area will also be built.
 
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Construction begins at affordable housing complex in Brisbane’s Lutwyche

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The New South Wales government have acted upon many of the recent Samson report on local government, however further reform is needed to ensure an effective council structure, particularly in Sydney’s metropolitan areas, said Urban Taskforce CEO Chris Johnson.
The New South Wales government have announced its 'Fit for the Future' blueprint for local governments, which includes a package of financial incentives to encourage amalgamations across Sydney and joint organisations of councils in rural areas.
“The final report by the Independent Local Government Review Panel released in October 2013 proposed amalgamating councils in metropolitan Sydney to form between 12 and 18 new councils to replace the 41 smaller existing councils,” said Johnson.
“The government’s incentive package strongly encourages individual councils to fit into the review panel’s structure. The Urban Taskforce supports more efficient councils particularly if they relate to the state government’s regional structure for planning and other service delivery.”
This incentive package totals $1 billion, according to New South Wales Premier Mike Baird who launched the program. This is broken down into $258 million to assist councils who merge, cheaper finance for councils who need to build and maintain community facilities and up to $100 million in savings through cuts to red tape. Another $5.3 million has been set aside to establish regional joint organisations.
He noted that councils could acquire more planning powers with critical mass, with larger planning offices able to help Sydney’s growth – particularly when taking a regional approach.
“A number of large Western Sydney councils are already demonstrating a pro-growth professional attitude to planning and this needs to continue,” Johnson said.
“The proposal for regional councils to create new regional Joint Organisations where savings can be made through shared services is a good move and could also apply in Sydney if not enough councils want to amalgamate.”
At present, there are 41 councils in Greater Sydney. The blueprint notes that: “This means multiple licences, fees and approvals for small business and different development rules for people who want to build or renovate their homes.”
Councils are required to submit proposals on “how they plan to be Fit for the Future” by 30 June 2015 for an independent review.
The official timeline expectations see the changes taking place by September 2016, when new local government elections will occur. Mergers are expected to be complete, with a new Local Government Act in place, rural councils commencing and the regional joint organisations established.
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Council amalgamations key to Sydney’s planning growth: Urban Taskforce

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Greenland’s latest development to be launched is Leichhardt Green – a mix of terraces and apartments, with parking and views towards the city skyline.
Featuring one and two bedroom apartments, and three bedroom terraces with two bathrooms, <a href="https://www.leichardtgreen.com.au" target="_blank">Leichhardt Green</a> is marketed through CBRE as “like nothing else” in the area, with their first time offered emails now distributed.
The display suite for the Bates Smart-designed properties is yet to be opened.
The landscaping is from McGregor Coxall, who have included balcony planter boxes for top street facing apartments and extensive gardens for the development.
Artist impressions include an in-ground swimming pool.
The 22 George Street project has also been marketed on <a href="https://www.myfun.com/au-cn/apartment-leichhardt-117872575" target="_blank">REA Group’s Chinese portal My Fun</a>.
The George Street site covers 1.01 hectares and was called a “once in a lifetime” opportunity when sold through Colliers International. It came with an indicative architectural scheme of 244 apartments covering five buildings of three to eight storeys in height.
The DCP allowed for 21,780 square metres of building area including 1,400 square metres of mixed-use space.
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Greenland offers Leichhardt Green for the first time

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A new Australian website, calling itself a world first, has been launched that will help prospective property owners crowd source their mortgage and skip brokers.
The site, which began as an idea in 2010 and is now called Flongle, sees borrowers anonymously post what they want in an ideal mortgage. In response, banks, non-bank lenders and brokers “bid” to obtain the customer’s business. Flongle is presenting this as a mortgage “contest”, whereby the lender ‘wins’ the client.
Michael Lee, who is behind the website and comes from the mortgage industry, said that it provides an unbiased way to see out a deal before choosing the one that best meets their needs and at the lowest price.
The site notes that they include 2,500 plus mortgage deals “below retail” that are exclusively discounted. Each of the “Flongle deals” is noted as pre-approval insured as each bid is prepared by a human being. It comes with some hefty testimonials too, with Money Magazine and Barefoot Investor Scott Pape quoted on their site.
Flongle does not take commissions from lenders, with consumers instead paying. It costs $399 for a prospective borrower to undertake the service, or they can up their cost to $799 for a mortgage expert to guide you through the process. This comes with a money back guarantee that they’ll get the loan that fits their need at the best possible price or they will receive a refund.
Their ‘mortgage contests’ run for up to seven days, and they note that it can attract hundreds of bids. Currently registered are more than 50 lenders and mortgage brokers that have been verified by Flongle. Flongle will also rank the bids based on how they match the requirements noted by the borrower, and the costs (including hidden fees) using a proprietary technology.
“For too long, consumers have been baffled by choice, complexity in pricing, an array of similar, but not necessarily the same features and some outrageously dishonest advertising and promises, which, largely, go unchecked,” said Lee, who believes Flongle gives the power back to the borrower.
They note that as commissions and incentives are not required to be disclosed by brokers, which add up to $2.1 billion paid out annually to Australian brokers, this adds transparency to the process.
“The mortgage is without a doubt the biggest household expense for most Australians and yet too many people are on dud deals that leach away at their wealth and happiness,” Lee said. 
“Despite the massive impact their mortgage has on their wealth, most Australians just don’t have the time to learn what they need to know, let alone to apply it – which means they wind up handing their biggest and most important financial decision over to a salesperson.”
Lee said that the reality is that bias from brokers can cost consumers thousands if they pick based on commission rather than based on the genuine best deal for the borrower.
Those looking for new home loans, to health check or to refinance can use the service, with your mortgage call out taking less than two hours to make.
Lenders currently listed on the site include Commonwealth Bank, St George Bank, BankSA, ING Direct, Suncorp, Citibank, Heritage Bank, Westpac Bank, Bank of Melbourne, Newcastle Permanent, Homeside (NAB), ME Bank, The Rock Building Society, Plan Lending, National Australia Bank, ANZ Bank, BankWest, Resi, Macquarie Bank and Circle Credit Union.
The site is a wholly owned subsidiary of CQ Now Pty Ltd, and neither owns nor is owned by a lender or mortgage broker.
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