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“Minister Chanthivong and his team have shown real leadership in replacing an outdated two-year bond with cover that matches the lifespan of the buildings people are buying into.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

<html><body>
GUEST OBSERVATION
While it can be tough to get the price you want for your house, especially in such an unpredictable market, you might find yourself not wanting—or not able—to wait for your appraised value to go up before moving.
If you’re having trouble making the finances work, renting out your house is one short-term solution to look into.
There are a few things to consider when you’re deciding if this might work for you.
<ul>
<li>Immediate financing</li>
</ul>
Even if you wouldn’t be able to sell your house for much, the amount you’d get from the sale is still something you might be counting on to help pay for your new house. If you’re going to rent out, make sure you can still come up with a decent deposit from somewhere else. In some cases you also might need to make different or more renovations than you would to sell, especially if you want to divide the place into apartments. 
<ul>
<li>Long-term cash flow</li>
</ul>
Consider how much you’ll realistically be able to get in rent. It needs to be enough to cover the mortgage, upkeep, and other expenses. Consider whether it would seem like a good investment if you were buying the same house as a rental property. You might want to talk to an accountant or other financial advisor about whether or not renting out this house is a good deal.
<ul>
<li>The rental market in your area</li>
</ul>
Like with sales prices, you’ll need to check comps in your area to see what kind of rent you’ll be able to get. While you might want a higher amount or be afraid of getting “low-end” tenants, you shouldn’t price yourself out of the market. Think about whether renters in your area will be expecting a furnished house or paid utilities. You’ll also need to figure out if your neighbourhood and your house are likely to attract people interested in renting as opposed to buying. 
<ul>
<li>Dealing with being a landlord</li>
</ul>
Unlike selling your house, you won’t be able to just walk away from a rental. You’ll need to worry about ongoing maintenance and upkeep, and the process of screening tenants can be a lot more work than finding a buyer, especially if you have high turnover. You’ll also need to make sure the lease paperwork is in order, which will be important for resolving some types of disputes that might come up. 
If you’re stuck with an extra house you can’t or shouldn’t sell right now, renting is often a good solution. If you look over all of these areas and the idea of renting your old house seems to pencil out well, it can be a good way to hold out for the best sales price you can get down the road.
TODD SCHULBERG is marketing engagement and digital strategy executive at <a href="https://www.homely.com.au/" target="_blank">Homely</a>.
</body></html>

ToddSchulberg-ooPiJQCUaR

Should you sell or rent it out? Four things to consider

<html><body>
Many Australian’s would like to live in the inner city areas of their capital city where the amenities are most abundant, but sadly the cost of housing is generally restrictive.
According to the RP Data Home Value Index results for July 2014, combined capital city home values increased by 10.2% over the 12 month period. The greatest annual increases in values have been recorded in Sydney (14.8%) and Melbourne (11.0%). In all other capital cities the total value growth over the past year has been less than 7%.
A familiar trend we are witnessing across most cities is that demand for housing is particularly strong across the inner city areas of the city. With mortgage rates low, buyers are battling it out to purchase those homes close to the city centre. Of course areas closer to the CBD tend to be much more expensive than those areas further away. Inner city suburbs are also generally better serviced by both essential and desirable amenities such as: schools, medical services, shopping centres, social amenity, roads and public transport infrastructure.
In certain capital cities the cost of housing is restrictive in these areas due to a high level of demand which has pushed housing costs out of the reach of many perspective buyers. Coupled with high demand is inherently low levels of supply; it is much more challenging to release new detached close to the city due to the limited availability of developable land. Of course there remain alternative options such as units however even units in certain cities have restrictive price points.
Looking at those suburbs with the most affordable median value within a 10 kilometre radius of the CBD across the cities we can see a large divergence in results. For example, in Sydney <a href="/news">Wolli Creek</a> has the lowest median house value at $710,303 (not very affordable) and in Melbourne the most affordable suburb is <a href="/news">Bellfield </a>at $533,252. In most other capital cities, except for Darwin the starting point for a house is significantly lower. Of course, in many cities these areas are less desirable than other inner city suburbs however, they remain close to the city and potentially have scope for urban renewal over the coming years.
Turning to the unit markets, home values are typically much more affordable closer to the city centre than they are for houses. Again, this doesn’t mean that they are affordable or practical for everyone. It is also interesting to note that the divergence in results from city-to-city. For example <a href="/news">Kilburn</a> is the fifth most affordable suburb for houses in Adelaide with a median of $349,925. The most affordable suburb for units in Sydney’s inner city is <a href="/news">Eastlakes </a>with a median of $452,776 which is significantly higher than the median house value of Kilburn. Nevertheless, the median value of units is much lower than the median house values across most cities. No wonder we are seeing such a rise in inner city unit construction with so much demand and a lower price point compared to comparable houses.
RP Data anticipates that home values in inner-city areas are likely to continue to increase, particularly as mortgage rates remain at such low levels. As a result more and more potential buyers are likely to be priced out of the inner city housing market. This creates some good opportunities for other areas of the city to see increased demand.
If buyers can’t afford to purchase a home within the inner city, they will most likely look to those locations that tick as many of the inner city boxes, just at a lower price point than the inner city areas. Given this, suburbs with features such as: quality public transport connections, abundant retail and social amenity, quality schools and medical amenity will likely see renewed interest as inner city buyers look to these more affordable alternatives.
<img src="https://image.e.rpdata.com/lib/fe591570776d03757d17/m/7/2014-08-15--most-affordable-inner-suburbs.jpg">
</body></html>

ckusher-ujnxiKuFQs

Australia's most affordable inner city suburbs

<html><body>
During our project management we find that there is quite a large variation in the amount of time required at each stage of the property development process.
I thought I'd share with you a brief overview of each phase of a development and indicate the time needed. 
<ul>
<li>
Site selection 
</li>
</ul>
This can be very time consuming looking at different sites and running feasibilities on each of them. Once you find a good site, then there is no time to waste in securing it and taking it off the market.
Firm and professional negotiation is needed and you should manage the agent during this stage. Make sure they've raised the sales advise quickly and contracts are received and reviewed by your solicitor.  Request terms such as a longer settlement period and permission to lodge your development application (DA) during this time. 
You may be able to purchase under an option agreement which can literally buy you time but discuss this in detail with your solicitor so you understand how it works. We don't normally use an option to buy as land developers and vendors mostly want to see a firm purchases.
Good sites will sell quickly to others and sometime more complicated purchasing strategies can kill a deal. Once you have an offer accepted, be ready to move to exchange on the land quickly.
<ul>
<li>Design and Development Application preparation</li>
</ul>
Again, time is of the essence as you want to get as much work done before you settle on the land and interest holding costs start kicking in. Work closely with your architect so that they can finalise designs fast.
<ul>
<li>DA processing </li>
</ul>
This is a chance to take a deep breath, regroup and begin to set your focus on the construction phase.  Whilst you'll have a few weeks up your sleeve here, you still need to stay in touch with the town planner assigned to your DA but don't be too pushy. Make sure that if council does request more details, you provide them very quickly as the processing 'clock' will stop while they are waiting on your response.
<ul>
<li>
Construction Certificate 
</li>
</ul>
Using a private certifier to approve construction certificate plans and issue occupation certificates can save you valuable time compared to leaving it all with council.
<ul>
<li>
Unconditional construction finance 
</li>
</ul>
Move like a speeding bullet to get the consents and stamped plans to your finance broker/bank along with the personal information and documents they will need to finalise your construction loan and give you unconditional approval.
Time can be wasted in this phase with banks waiting on necessary docs or not being given all the information they need. Chase the bank for the Letter to Commence construction that your builder needs before they can commence work.
<ul>
<li>
Building phase 
</li>
</ul>
An efficient builder, they will generally spend a couple of weeks after receiving the letter to commence from your bank, preparing your site file which involves placing orders with their suppliers and allocating resources for your project. This is important planning time for the builder so when construction starts, there is no waiting around for delivery of materials to site.  Ask for a date that your site will be cut and be available to attend.
The site preparation phase is where some issues can arise and you'll need to be aware and give direction to your builder.  As the build phase continues, work closely with the site supervisor and provide any details or deal with any issues as they arise.
Property Bloom spends a lot of time with our builder supporting them and to ensure a smooth process. We hold a weekly work-in-progress meeting and inspect each site once a week or more depending on the complexity of the stage we are in. 
<ul>
<li>
Final inspections and Occupation Certificate 
</li>
</ul>
It's important to spend the time here ensuring you are happy with the finishes, booking in the final certifier inspections and making sure they have all the documentation they require to issue final approvals.   
Manage your bank so that the builder's final account is paid quickly (after you are happy all works are complete).  We have a system where we are able to start our tenant procurement during the practical completion and Handover period so that as soon as the occupation certificates are issued, approved tenants can move in.
This phase can draw out with the bank needing to send a valuer to ensure the project is complete before they release funds. If the valuer cannot get access or in touch with he builder then there are delays. The builder will not handover the keys until the final payment is in their account.
It's really a full time job project managing the ebbs and flow of a development project.  It's not always a race against the clock but a balance between spending the right amount of time to ensure nothing is missed and of course, to enjoy the journey. 
As Gold Meir once said: "I must govern the clock, not be governed by it."
<a href="https://www.propertybloom.com.au" target="_blank">www.propertybloom.com.au</a>
</body></html>

jochivers-wq5Bp59R5a

The property development process: How much time does each stage take?

<html><body>
The new project from Salta Properties, Essence, in South Yarra will be launched to the public this weekend.
The site at 35 Wilson Street, South Yarra is located close to the famous Chapel Street retail strip. It will include a public thoroughfare parallel to the private lobby that will connect Wilson Street and Garden Lane.
<img src="/images/2014/09/04/south-yarra-sept-4-one.jpg" alt="">
Designed by <a href="https://www.rothelowman.com.au/" target="_blank">Rothelowman</a>, the development will contain a total 92 one and two bedroom apartments across eight floors. Prices start from $379,000, with construction set to begin later this year.
Sam Tarascio, managing director of Salta Properties, said that the company was focussed on providing a sustainable contribution to the area which captured the style of the area.
<img src="/images/2014/09/04/south-yarra-sept-4-two.jpg" alt="">
“As developers, it is important to create urban buildings that can strengthen and enrich people’s lives. Essence is a timeless and unique addition to the neighbourhood,” said Tarascio.
Speaking at a launch gala last night, Tarascio said that design features, such as moving the study into the bedroom and a floating kitchen bench, were designed to maximise space inside the units, while other building utilities will be hidden inside the walls.
<img src="/images/2014/09/04/south-yarra-sept-4-three.jpg" alt="">
<a href="https://www.essencesouthyarra.com.au/" target="_blank">Essence</a> will also include a rooftop terrace for communal entertaining and vertical gardens.
The display suite on Chapel Street (pictured in the gallery above) will be open to the public from Saturday.
</body></html>

jake-cSmGT7VXVf

Salta Properties' Essence, South Yarra to be launched this weekend

<html><body>
Finding a buyer's agent that fits your investment plan is tricky business. They're not all made equal.
If you're currently in the process of choosing a buyer's agent, then here are 15 questions that you should be asking:
<ol>
<li>What are your skills and experience as a buyer’s agent? 
</li>
<li>What is your fee? 
</li>
<li>How is your fee determined? 
</li>
<li>What services are included in your fee? 
</li>
<li>Are there any additional fees/charges? 
</li>
<li>Do you need my authority to incur additional fees/charges? 
</li>
<li>How frequently will you provide me with a list of suitable properties? 
</li>
<li>How thoroughly do you evaluate properties on the list? What research do you undertake before recommending a property to me? 
</li>
<li>How does the negotiation process work? 
</li>
<li>What strategies will you employ to achieve the best possible outcome for me? 
</li>
<li>Are you a member of a relevant industry body, such as the Real Estate Institute of WA (REIWA) or the Real EstateBuyers’ Agents Association of Australia? 
</li>
<li>Can you provide references from former clients? 
</li>
<li>Do you have Professional Indemnity insurance? 
</li>
<li>Do you have a conflict of interest? In other words, are you the selling agent for a property that you think I might be interested in purchasing? 
</li>
<li>What happens if I locate a property myself or inherit a property during the period of our contract?</li>
</ol>
Source: Government of Western Australian, Department of Commerce (for <a href="https://www.commerce.wa.gov.au/consumer-protection/buyers-agent" target="_blank">more of their tips, see here</a>).
You can also read Property Observer's <a href="/expert-insights/buying/select-your-buyers-agent-wisely-what-you-need-to-consider">guide to choosing a buyer's agent here</a>.
</body></html>

jduke-EHk3XBmHkn

15 questions to ask your buyer’s agent: WA Department of Commerce

<html><body>
The Australian Bureau of Statistics’ dwelling approvals figures recorded an increase in July for new dwellings, with the Housing Industry Association (HIA) noting that this is high by historical standards.
In July, 16,320 dwellings were approved, which was a 2.5% increase on June.
HIA senior economist Shane Garrett said that this is another record broken, with total seasonally adjusted new home approvals over the past 12 months at the highest since records began in 1984.
“Having broken through the 195,000 threshold for the first time, new home building approvals is now at an even higher level than during the 1994 building boom,” he said.
However, over the past six months there have been signs of a slowdown.
<blockquote>
Western Australia: 23.1% South Australia: -1.9% ACT: -9.3% Northern Territory: 16.7% New South Wales: -5.7% Victoria: -4.6% Tasmania: -7.7% Queensland: 0.9%
</blockquote>
“It is also worth bearing in mind that the bulk of the July increase was driven by an exceptional large expansion in Western Australia,” Garrett warned.
“The key is to ensure that a number of markets, like Sydney for example, achieve sustainably healthy levels of new home over the coming decade which far outweigh what has been built over the last ten years. Numerous government policies across all tiers stand in the way of this objective being achieved.”
The increase in Western Australia was 23.1% in seasonally adjusted terms, while a slight increase was also seen in Queensland at 0.9%. However, significant declines were seen for new dwelling approvals in Tasmania, with a 7.7% drop, New South Wales, down 5.7% and Victoria, which recorded a 4.6% slump.
Western Australia’s significant increase comes after a six month period of little growth.
South Australia’s 1.9% drop was mild in comparison, particularly compared to the ACT’s 9.3% decline. Meanwhile the Northern Territory recorded a 16.7% surge.
Master Builders Australia’s chief economist Peter Jones also called it an easing off of the “red hot upswing in approvals for apartments”.
Detached houses were noted as taking over as the key driver of growth, following some moderation in the recent upswing of approvals for units.
<blockquote>
Western Australia’s significant increase comes after a six month period of little growth.
</blockquote>
“In annual terms, approvals for private sector houses increased by 14% seasonally adjusted through to July while approvals for apartments were up by a more restrained 6.3% seasonally adjusted,” he said.
“Indeed residential building recovery appears on track for an extended upturn given the underlying favourable dynamics of low interest rates, strong population growth and a deficiency of stock due to previous underbuilding.”
</body></html>

Record breaking home approvals largely driven by Western Australia: HIA

<html><body>
Reserve Bank of Australia chief Glenn Stevens has acknowledged the "elevated level of housing prices", as record low interest rates continue for another month.
In a speech made in Adelaide on Wednesday, Stevens noted the prospect of fostering excessive risk-taking behaviour in the financial sector, warning that if people over-commit themselves financially, the economy could be vulnerable to "nasty shocks". 
"It is stating the obvious that at present, while we may desire to see a faster reduction in the rate of unemployment, further inflating an already elevated level of housing prices seems an unwise route to try to achieve that," said Stevens.
According to RP Data, home prices in Australia's capital cities rose by 4.2% in the quarter to August, the highest winter price gain since 2007. The growth was largely driven by Sydney and Melbourne, where median dwelling prices rose by 5.0% and 6.4% respectively.
Unemployment sits at a 12 year high of 6.4%. 
Economists from Australia's major lenders have declared that there is no housing market bubble, others, including AMP Capital chief economist Shane Oliver, also consider Australian housing <a href="/expert-insights/buying/overvalued-housing-price-problem-returns-with-vengeance-amp-capitals-shane-oliver">expensive on a long-term basis</a>. 
Oliver said that the low interest rate climate has been a major factor in recent property growth, and there is potential for interest rates to encourage people to take on an imprudent level of risk.
"There's no doubt that low interest rates are driving the upswing in property prices," said Oliver. "When interest rates are cut, one of the ways that helps the economy is that it forces investors to take their money out of low risk investments like bank deposits, and move it to higher risk investments like housing and shares." 
However, Oliver maintained that Australian's level of financial risk is "not excessive in aggregate".
"The rate of growth in credits in Australia is still quite modest, by the standards of the past," he said, noting the Reserve Bank's credit statistics for July. Overall credit grew by 5.1% in the year to July, with 6.5% growth in housing credit. 
"At a 6.5% year on year rate, it's much lower than the 20% plus growth we saw a decade ago," said Oliver.
The Reserve Bank has maintained a record low overnight cash rate of 2.5% since August 2013, a policy Stevens said "could perhaps be described as boring". 
"If so, I would regard that as a small success," said Stevens, who highlighted the "stability and predictability" of the current interest rate structure.
You may also like to read: <a href="/expert-insights/finance/standby-for-rba-jawboning-on-overheated-sydney-and-melbourne-auction-markets">Standby for RBA jawboning on overheated Sydney and Melbourne auction markets</a>
</body></html>

jrichardson-uRX5hFdKfN

Further inflating housing market "unwise": RBA's Glenn Stevens

<html><body>
There have been two thought provoking commentaries from prestige Melbourne buyers' agents this week on the issue of prestige home sale to buyers of Chinese descent.
There was some silly coverage on the front page AFR on Monday. Quite inflammatory and mostly unhelpful as the AFR didn't address the easy way of solving the concern, that is 100 point required residential identification details within all contracts. 
<img src="/images/2014/09/04/afr-sept-4-one.png" alt="">
The more insightful perspective commentary has been <a href="/expert-insights/fear-of-chinese-buyers-is-now-a-part-of-agents-scripts">published today on Property Observer</a> from Mal James.
Under the online AFR headline, Foreigners illegally buy trophy homes in Sydney and Melbourne, or the printed version, Agents cash in on "illegal" foreign buyers, the high profile buyers’ agent David Morrell claimed foreign investment in Melbourne residential real estate was "rampant", particularly from mainland China with "real large scale flaunting of the current laws".
He said the lack of "cheques (sic) or balances was undermining and damaging the existing residential real estate market".
 Particularly in the $10 million top end and in the $1.5 million to $3.5 million inner city Melbourne marketplace, said David Morrell.
But unfortunately he was very vague in actually assisting the parliamentary committee investigating foreign ownership with any documented examples.
He suggested there had been "many" transactions in the top end marketplace, in particular where a property has been on the market for 12 months and suddenly the Chinese national has purchased the property for a 20% premium to the relevant marketplace and local buyers.
"This of course causes a domino effect in the market where other vendors believe there properties are worth more and our prices local buyers."
His submission went onto say: "Clearly while there’s a law there’s no requirement in any contract that requires proof of residency to the person signing a document, we have seen on many occasions some distant relation actually sign a document that clearly has neither the ability or knowledge of what they’re actually doing. 
"To give you some scale of the problem at a recent Toorak auction where the reserve was exceed by 30%, there were three Chinese nationals competing, neither spoke English or understood the process and literally just kept their hands in the air. 
"This outrageousness is not only contained to an isolated incident," though his submission stopped at just this one unidentified example.
Meanwhile buyers agent Mal James wrote it was not just actual bidding that was "creating the near frenzied bidding response that we are seeing out there right now".
"Even when no Chinese Nationals are bidding, it’s the fear of Chinese nationals bidding that is also pushing prices up," he blogged.
"Ask any agent on an inner east home coming to auction and they will tell you we have some 'Chinese interest' –<a href="/expert-insights/fear-of-chinese-buyers-is-now-a-part-of-agents-scripts"> it is something firmly implanted in many agents’ “buyer scripts”</a>.
"In other words, buyers not only bid as they do against Chinese national bidders but also on the fear that Chinese nationals may bid."
James went onto note that in his last 10 purchases he had been directly involved in (Kew, Camberwell, East Melbourne, Elwood, Camberwell, Glen Iris, Camberwell, Kew, Camberwell and Kew) that Chinese Nationals were the direct underbidder on five. They were used in the selling agents negotiating scripts twice. There was no Chinese bidding or no mention of Chinese bidders by agents on the other three.
James concluded by noting that Chinese nationals are also affected by the bidding or fear the bidding of other Chinese nationals.
The committee chair Kelly O'Dwyer represents Higgins, located in Melbourne's south-eastern suburbs. 
It covers an area of approximately 40 sq km from Hughesdale in the south-east, South Yarra and Toorak in the north-west, Windsor in the south-west and Ashburton and Glen Iris in the east. The main suburbs include Armadale, Ashburton, Kooyong, Malvern, Malvern East, Prahran and Toorak along with parts of Carnegie, Glen Iris, Hughesdale, Murrumbeena, South Yarra and Windsor.
Getting up the 100 point identification initiative will require O'Dwyer to convince all the states and territories to adopt a uniform contract requirement which could coincide with the roll out of e-conveyancing which should allow greater transparency. 
Her committee ought also introduce a foreign buyers'  fee to assist in the compilation of better data on the occurrence, so that the authorities can monitor purchases and exit sales to ensure greater compliance, possibly even if the purchasing is via family members and companies.
Unfortunately until then we are left with mostly anecdotal snippets that don't always greatly assist our understanding amid the confusion between rightful local buyers of Chinese descent and those directly from mainland China who don't have any ownership entitlement.
Kelly O'Dwyer will deliver her findings by October 14.
</body></html>

jchancellor-FAypfDUnLy

Real and imagined - the overstated domino fear of top end Toorak Chinese buyers

<html><body>
The August quarter update from RP Data showed the strongest winter performance in Australian capital cities since 2007.
Sydney and Melbourne's housing <a href="/news/vic/melbourne-records-strongest-august-2014-quarterly-growth-rp-data">out-performed expectations</a>.
Sydney, which has the highest prices in the country, recorded a $650,000 median dwelling price for August after 16% annual growth.
Burrowing down with the price growth showed Sydney was much stronger when it came to house growth with the median at $740,000, up 17.2% annually. 
With greater supply of apartments, the price growth for units in Sydney was up 12.1% to $565,000.
The growth gap was more noticeable in Melbourne where there was 6.2% annual growth to a $460,000 median Melbourne unit price while house values rose 12.4% over the year to a $570,000 median.
RP Data national research director Tim Lawless said ongoing investor demand was one of the key drivers of market conditions, particularly in Sydney where ABS data showed investors account for more than half of all new mortgage commitments across Australia.
Lawless said investors are concentrated across Sydney and Melbourne, where the markets have proven strong capital gains but now lower yields. Yields are currently so low in Sydney that <a href="/expert-insights/buying/sydneys-16-2-year-on-year-growth-straining-yields-rp-data">they’re on track to race below Melbourne</a>.
“Potentially there are better investment returns to be had in the smaller capital cities where the growth trend is less mature and yields are also healthier,” he said.
There were several capitals where apartment price growth was stronger that house price growth including Perth, Darwin, Brisbane and Canberra.
Perth houses were up 3.2% to $530,000 over the year to August 31, while its apartment growth was up 7.2% to $440,000.
Darwin houses were up 4.3% to $550,000, while its apartment growth was up 10.3% to $450,000.
The latest RP Data Core Logic Home Value Index suggested that while yields are tracking down in the majority of areas, there are still opportunities for investors willing to look further afield than Sydney and Melbourne. HOUSE YIELDS   1.  DARWIN ------------ 5.9%   2.  HOBART ------------- 5.2%   3.  BRISBANE ----------- 4.5%   4.  ADELAIDE ---------- 4.2%   5.  PERTH -------------- 4.1%   6.  CANBERRA --------- 4.1%   7.  SYDNEY ------------ 3.6%   8.  MELBOURNE ------- 3.2% UNIT YIELDS   1.  DARWIN --------- 5.8%   2.  BRISBANE ------ 5.4%   3.  HOBART --------- 5.2%   4.  CANBERRA ----- 5.0%   5.  ADELAIDE ------ 4.8%   6.  PERTH ---------- 4.6%   7.  SYDNEY -------- 4.5%   8.  MELBOURNE -- 4.2%
</body></html>

House price growth stronger than apartments in Sydney and Melbourne

<html><body>
The six bedroom Brighton home which accommodated the recent batch of Masterchef contestants on the Channel Ten competition, has been sold.
It was designed at 323 St Kilda Street by Peter Carmichael, and then constructed by Everclear.
<a href="https://www.marshallwhite.com.au/sold/323-st-kilda-street-brighton-7027769/" target="_blank">It was offered through Marshall White agent Michael Paproth</a>.
It comes with home cinema, play room, cellar, swimming pool, spa and gymnasium, security surveillance and garaging for six cars on an allotment measuring some 1,883 square metres.
The beach and the bay are at the end of the street.
It has been listed with $5 million plus expectations.
Fairfax Media speculate that it sold to Chinese buyers.
</body></html>

Latest Expert Insights

The apartment feature many buyers don't think about, until their first missed delivery

Guides

Editor's Picks

Guides

Developments

New apartments

New townhouses

News

Latest Expert Insights

The apartment feature many buyers don't think about, until their first missed delivery

Guides

Editor's Picks

Receive the latest news stories to your inbox

Guides

Developments

New apartments

New townhouses

News